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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:    
Net income $ 73,454 $ 59,432
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,020 2,858
Net foreign currency gains (1,444) (1,379)
Stock-based compensation 7,935 7,666
Deferred income taxes (benefit) (133) 21,773
Provision for bad debts 176 338
Tax benefits from stock-based compensation 1,831 7,684
Excess tax benefits from stock-based compensation (1,831) (7,684)
Other non-cash operating activities 271 782
Changes in assets and liabilities:    
Accounts receivable 15,720 18,519
Unbilled services 423 990
Prepaid expenses, prepaid income taxes, and other assets 231 2,914
Installments receivable 1,339 980
Accounts payable, accrued expenses, and other liabilities (3,307) (5,254)
Deferred revenue (58,513) (35,844)
Net cash provided by operating activities 39,172 73,775
Cash flows from investing activities:    
Purchases of marketable securities 0 (39,048)
Maturities of marketable securities 32,049 39,012
Purchases of property, equipment and leasehold improvements (1,781) (4,328)
Capitalized computer software development costs 0 (137)
Net cash provided by (used in) investing activities 30,268 (4,501)
Cash flows from financing activities:    
Exercises of stock options 2,445 1,515
Repurchases of common stock (56,790) (115,905)
Payments of tax withholding obligations related to restricted stock (2,188) (2,574)
Excess tax benefits from stock-based compensation 1,831 7,684
Net cash used in financing activities (54,702) (109,280)
Effect of exchange rate changes on cash and cash equivalents (364) (1,077)
Increase (decrease) in cash and cash equivalents 14,374 (41,083)
Cash and cash equivalents, beginning of period 156,249 199,526
Cash and cash equivalents, end of period 170,623 158,443
Supplemental disclosure of cash flow information:    
Income taxes paid, net 34,497 2,621
Supplemental disclosure of non-cash investing and financing activities:    
Change in landlord improvement allowance included in leasehold improvements and deferred rent liability 0 6,064
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses (295) 2,184
Change in common stock repurchases included in accrued expenses $ (1,724) $ 1,712