v3.24.2.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:      
Net income $ 69,033 $ 156,769 $ 133,079
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation and amortization 11,397 12,525 27,300
Amortization of loan cost 2,447 2,113 2,651
Deferred income taxes (2,690) 1,585 (4,106)
Share-based compensation 1,923 2,176 2,140
Remeasurement gain on pre-existing equity interest (16,669) 0 0
Earnings from equity method investments (4,044) (12,576) (6,907)
Dividends and distributions received from equity method investees 642 978 1,678
Other (166) (155) 215
Changes in assets and liabilities:      
Receivables, net 16,754 61,797 (8,040)
Secured loans receivable 0 1,012 757
Secured loans made to affiliates 56 0 3,042
Derivative assets (36,243) 13,862 (47,207)
Precious metals held under financing arrangements 3,464 54,236 74,976
Inventories (52,758) (240,625) (282,999)
Prepaid expenses and other assets (1,168) (3,336) (649)
Account payable and other payables (16,285) 19,338 192
Deferred revenue and other advances 65,180 5,818 (18,871)
Derivative liabilities 18,265 (67,704) 68,241
Liabilities on borrowed metals 9,878 (37,775) (32,449)
Accrued liabilities (7,097) (937) 2,425
Income tax payable (985) 576 (4,634)
Net cash provided by (used in) operating activities 60,934 (30,323) (89,166)
Cash flows from investing activities:      
Capital expenditures for property, plant, and equipment (7,256) (4,783) (2,879)
Acquisition of businesses, net of cash acquired (31,871) 0  
Purchase of long-term investments (2,113) (7,950) (34,950)
Purchase of an option to acquire long-term investments 0 (340) (5,300)
Purchase of intangible assets (8,515) (5,000) 0
Secured loans receivable, net (12,489) 24,599 (17,034)
Other (1,353) 313 (400)
Net cash (used in) provided by investing activities (63,597) 6,839 (60,563)
Cash flows from financing activities:      
Product financing arrangements, net 157,541 53,160 81,643
Dividends paid (41,845) (37,468) (22,645)
Noncontrolling interest contributions (distributions) 2,051 (1,001)  
Net borrowings and repayments under lines of credit 10,000 20,000 30,000
Repayment of notes (95,000) 0 0
Proceeds from notes payable to related party 3,448 3,500 0
Repayments on notes payable to related party 0 (2,955) 0
Repurchases of common stock (22,307) (9,762) 0
Debt funding issuance costs (3,323) (485) (5,179)
Proceeds from the exercise of share-based awards 1,962 1,884 2,323
Payments for tax withholding related to net settlement of share-based awards (546) (1,854) (35)
Net cash provided by financing activities 11,981 25,019 86,107
Net increase (decrease) in cash 9,318 1,535 (63,622)
Cash, beginning of period 39,318 [1] 37,783 101,405
Cash, end of period 48,636 [1] 39,318 [1] 37,783
Supplemental disclosures of cash flow information:      
Interest paid 34,244 28,787 20,576
Income taxes paid 17,926 44,337 42,548
Income taxes refunded 520 124 122
Non-cash investing and financing activities:      
Declared distributions and unpaid dividends 121 90 0
Property, plant, and equipment acquired on account 0 76 0
Interest added to principal of secured loans 14 14 14
Common stock issued for acquisitions 3,514 0 0
Loss on reissuance of treasury stock 367 0 0
Fair value of shares exchanged for increase in long term investment 0 0 11,683
Addition of right of use assets under lease obligations $ 5,773 $ 0 $ 2,013
[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.

Source