v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 26,124 $ 23,706
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 8,271 501
Amortization of loan cost 569 396
Deferred income taxes (1,423)  
Interest added to principal of secured loans (5) (4)
Share-based compensation 473 178
Earnings from equity method investments (1,489) (4,126)
Changes in assets and liabilities:    
Receivables (15,522) (26,526)
Secured loans receivable 25 (358)
Secured loans made to affiliates 3,032 4,642
Derivative assets (25,249) (67,275)
Precious metals held under financing arrangements 24,124 19,821
Inventories (107,686) (91,900)
Prepaid expenses and other assets (689) (292)
Accounts payable and other current liabilities (21,553) 69,992
Derivative liabilities 62,809 (11,917)
Liabilities on borrowed metals (17,248) (14,454)
Accrued liabilities (6,420) (1,227)
Income tax payable 2,124 771
Net cash used in operating activities (69,733) (98,072)
Cash flows from investing activities:    
Capital expenditures for property, plant, and equipment (709) (476)
Purchase of long-term investments (6,250)  
Secured loans receivable, net (407) (24,793)
Net cash used in investing activities (7,366) (25,269)
Cash flows from financing activities:    
Product financing arrangements, net 18,392 26,921
Dividends paid (22,639) (10,553)
Borrowings and repayments under lines of credit, net 9,000 79,000
Debt funding issuance costs (199) (398)
Net settlement on issuance of common shares on exercise of options 749 416
Net cash provided by financing activities 5,303 95,386
Net decrease in cash, cash equivalents, and restricted cash (71,796) (27,955)
Cash, cash equivalents, and restricted cash, beginning of period 101,405 [1] 52,325
Cash, cash equivalents, and restricted cash, end of period 29,609 [1] 24,370
Supplemental disclosures of cash flow information:    
Interest paid 5,839 3,737
Income taxes paid 5,967 6,726
Income taxes refunded   (1,044)
Non-cash investing and financing activities:    
Interest added to principal of secured loans 5 $ 4
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 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