v3.24.1.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 38,098 $ 114,832
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 8,552 9,784
Amortization of loan cost 1,828 1,628
Share-based compensation 1,602 1,607
Earnings from equity method investments (3,280) (7,276)
Dividends and distributions received from equity method investees 361 551
Other (74) (249)
Changes in assets and liabilities:    
Receivables, net (8,503) 6,964
Secured loans receivable 0 1,012
Secured loans made to affiliates (5,024) 0
Derivative assets 47,048 33,287
Income tax receivable (4,332) (861)
Precious metals held under financing arrangements 12,758 55,752
Inventories (91,185) (226,500)
Prepaid expenses and other assets (1,443) (1,488)
Account payable and other payables (16,325) 4,037
Deferred revenue and other advances (42,049) 78,143
Derivative liabilities 42,951 7,550
Liabilities on borrowed metals 4,525 (33,687)
Accrued liabilities (6,066) (1,455)
Income tax payable (1,358) (382)
Net cash (used in) provided by investing activities (21,916) 43,249
Cash flows from investing activities:    
Capital expenditures for property, plant, and equipment (4,518) (3,227)
Acquisition of a business, net of cash acquired (32,888) 0
Purchase of long-term investments (2,113) (5,540)
Purchase of intangible assets (8,515) (4,500)
Secured loans receivable, net (9,987) 28,359
Other (487) 0
Net cash (used in) provided by investing activities (58,508) 15,092
Cash flows from financing activities:    
Product financing arrangements, net 174,406 9,433
Dividends paid (37,265) (32,794)
Distributions paid to noncontrolling interest 0 (1,001)
Net borrowings and repayments under lines of credit 55,000 15,000
Repayment of notes (95,000) 0
Proceeds from notes payable to related party 3,448 3,887
Repayments on notes payable to related party 0 (2,135)
Repurchases of common stock (22,307) (9,762)
Debt funding issuance costs (2,975) (471)
Proceeds from the exercise of share-based awards 1,298 1,425
Payments for tax withholding related to net settlement of share-based awards (332) (1,605)
Net cash provided by (used in) financing activities 76,273 (18,023)
Net (decrease) increase in cash (4,151) 40,318
Cash, beginning of period 39,318 [1] 37,783
Cash, end of period 35,167 [1] 78,101
Supplemental disclosures of cash flow information:    
Interest paid 25,233 20,829
Income taxes paid 16,388 33,725
Income taxes refunded 413 117
Non-cash investing and financing activities:    
Declared distributions and unpaid dividends 111 98
Common stock issued for acquisitions 3,514 0
Loss on reissuance of treasury stock 367 0
Addition of right of use assets under lease obligations 957 $ 0
Consideration payable for acquisition of business $ 2,800  
[1] Includes amounts of the consolidated variable interest entity as of June 30, 2023, which are presented separately in the table below.

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

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