v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 45,237 $ 26,124
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 3,184 8,271
Amortization of loan cost 554 569
Deferred income taxes (36) (1,423)
Interest added to principal of secured loans (4) (5)
Share-based compensation 535 473
Earnings from equity method investments (2,677) (1,489)
Dividends received from equity method investees 551 0
Changes in assets and liabilities:    
Receivables (13,808) (15,522)
Secured loans receivable 368 25
Secured loans made to affiliates   3,032
Derivative assets 59,236 (25,249)
Precious metals held under financing arrangements 30,439 24,124
Inventories 115,522 (107,686)
Prepaid expenses and other assets (1,738) (689)
Account payable and other payables 22,447 22,691
Deferred revenue and other advances 7,638 (44,244)
Derivative liabilities 14,119 62,809
Liabilities on borrowed metals (3,508) (17,248)
Accrued liabilities (8,282) (6,420)
Income tax payable 9,845 2,124
Net cash provided by (used in) operating activities 279,622 (69,733)
Cash flows from investing activities:    
Capital expenditures for property, plant, and equipment (927) (709)
Purchase of long-term investments (500) (6,250)
Secured loans receivable, net 38,540 (407)
Net cash provided by (used in) investing activities 37,113 (7,366)
Cash flows from financing activities:    
Product financing arrangements, net (115,662) 18,392
Dividends paid (23,394) (22,639)
Distributions paid to noncontrolling interest (1,001)  
Borrowings and repayments under lines of credit, net (152,000) 9,000
Proceeds from issuance of related party note 3,887  
Debt funding issuance costs (170) (199)
Proceeds from the exercise of share-based awards 63 762
Payments for tax withholding related to net settlement of share-based awards (1,606) (13)
Net cash (used in) provided by financing activities (289,883) 5,303
Net increase (decrease) in cash 26,852 (71,796)
Cash, beginning of period 37,783 [1] 101,405
Cash, end of period 64,635 [1] 29,609
Supplemental disclosures of cash flow information:    
Interest paid 5,768 5,839
Income taxes paid 2,968 5,967
Non-cash investing and financing activities:    
Declared distributions and unpaid dividends 4,690  
Property, plant, and equipment acquired on account 178  
Interest added to principal of secured loans $ 4 5
Fair value of shares exchanged for increase in long-term investment   2,978
Addition of right of use assets under operating lease obligations   $ 2,013
[1] Includes amounts of the condensed consolidated variable interest entity, which is presented separately in the table below.

These figures exclude the impact of the JMB acquisition that closed on March 19, 2021.

Source