v3.23.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net income $ 428,222 $ 435,392
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 89,718 74,040
Amortization of right-of-use assets 17,094 15,533
Stock-based compensation costs 38,350 33,383
Loss attributable to equity method investments (note 5) 3,156 4,853
(Gain) loss on equity investments (note 5) 2,491 (5,088)
Non-cash restructuring expenses (note 11) 33,239 0
Changes in operating assets and liabilities:    
Accounts receivable (20,269) (75,823)
Inventories 77,095 (233,116)
Prepaid expenses, net deferred income taxes and other current assets (74,590) (66,646)
Accounts payable, accrued expenses, income taxes payable and other (35,391) (9,230)
Net cash provided by operating activities 559,115 173,298
Cash flows from investing activities:    
Purchases of property, plant and equipment (53,388) (56,406)
Patent registration and acquisition costs (12,036) (7,636)
Business acquisitions, net of cash acquired (110,688) (1,011,225)
Purchases of investments (note 5) (7,305) (17,132)
Proceeds from exits of investments (note 5) 250 0
Proceeds / (payments) on maturity of foreign currency contracts (6,956) 7,181
Net cash used in investing activities (190,123) (1,085,218)
Cash flows from financing activities:    
Proceeds from issuance of common stock, net 20,507 24,666
Purchases of treasury stock (50,007) 0
Taxes paid related to net share settlement of equity awards (8,022) (29,713)
Payments of business combination contingent consideration (1,293) 0
Proceeds from borrowings, net of borrowing costs 105,000 1,070,000
Repayment of borrowings (315,000) (45,000)
Dividends paid (141,275) (128,931)
Net cash (used in) provided by financing activities (390,090) 891,022
Effect of exchange rate changes on cash 3,454 387
Net decrease in cash and cash equivalents (17,644) (20,511)
Cash and cash equivalents at beginning of period 227,891 273,710
Cash and cash equivalents at end of period 210,247 253,199
Supplemental disclosure of cash flow information:    
Income taxes paid, net of refunds 173,437 107,985
Interest paid 28,762 17,472
Fair value of assets acquired, excluding cash 38,520 359,730
Liabilities assumed (5,401) (144,778)
Goodwill on acquisition 77,712 800,003
Deferred payments (143) (874)
Fair value of contingent consideration 1,293 (2,856)
Cash paid for acquisitions $ 111,981 $ 1,011,225

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