XML 35 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:      
Net income (loss) $ 85,783 $ 45,262 $ (13,808)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 5,215 5,229 5,278
Net foreign currency loss (gain) 1,934 (952) 953
Stock-based compensation 14,056 14,637 12,406
Deferred income taxes 34,596 5,127 (4,827)
Provision for bad debts 1,793 489 22
Excess tax benefits from stock-based compensation (727) (478) 0
Other non-cash operating activities 1,847 818 (1,695)
Changes in assets and liabilities:      
Accounts receivable (3,179) (6,094) (4,285)
Unbilled services 301 (380) 734
Prepaid expenses, prepaid income taxes, and other assets 947 3,827 (3,918)
Installments and collateralized receivables 13,607 39,419 57,003
Accounts payable, accrued expenses and other liabilities 1,633 (4,947) (1,583)
Deferred revenue 42,325 44,605 58,357
Net cash provided by operating activities 200,131 146,562 104,637
Cash flows from investing activities:      
Purchase of marketable securities (68,356) (97,597) 0
Maturities of marketable securities 60,265 4,549 0
Purchase of property, equipment and leasehold improvements (4,011) (4,507) (4,241)
Insurance proceeds 0 2,222 0
Purchase of technology intangibles (400) (902) 0
Payments for acquisitions, net of cash acquired 0 0 (2,617)
Capitalized computer software development costs (685) (1,156) (511)
Net cash used in investing activities (13,187) (97,391) (7,369)
Cash flows from financing activities:      
Exercise of stock options 8,710 21,143 8,913
Proceeds from secured borrowings 0 0 4,982
Repayments of secured borrowings 0 (11,010) (44,892)
Repurchases of common stock (121,776) (84,677) (46,105)
Payment of tax withholding obligations related to restricted stock (7,831) (7,705) (4,597)
Excess tax benefits from stock-based compensation 727 478 0
Net cash used in financing activities (120,170) (81,771) (81,699)
Effect of exchange rate changes on cash and cash equivalents 320 (210) (312)
Increase (decrease) in cash and cash equivalents 67,094 (32,810) 15,257
Cash and cash equivalents, beginning of year 132,432 165,242 149,985
Cash and cash equivalents, end of year 199,526 132,432 165,242
Supplemental disclosure of cash flow information:      
Income tax paid, net 7,157 4,645 2,707
Interest paid $ 37 $ 424 $ 4,206