Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 133,079 $ 160,924
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 27,300 10,789
Amortization of loan cost 2,651 2,162
Deferred income taxes (4,106) (2,034)
Interest added to principal of secured loans (14) (13)
Share-based compensation 2,140 1,173
Write-down of digital assets 229  
Remeasurement gain on pre-existing equity method investment (26,306)
Earnings from equity method investments (6,907) (15,547)
Dividends received from equity method investees 1,678 343
Changes in assets and liabilities:    
Receivables (8,040) (20,880)
Secured loans receivable 757 1,932
Secured loans made to affiliates 3,042 5,755
Derivative assets (47,207) 7,447
Precious metals held under financing arrangements 74,976 23,835
Inventories (282,999) (79,031)
Prepaid expenses and other assets (649) (7)
Account payable and other payables 192 (86,097)
Deferred revenue and other advances (18,871) 58,651
Derivative liabilities 68,241 (20,194)
Liabilities on borrowed metals (32,449) (76,340)
Accrued liabilities 2,425 5,686
Income tax payable (4,634) (4,902)
Net cash used in operating activities (89,166) (52,654)
Cash flows from investing activities:    
Capital expenditures for property, plant, and equipment (2,879) (2,113)
Purchase of long-term investments (34,950) (7,996)
Purchase of an option to acquire long-term investments (5,300)  
Secured loans receivable, net (17,034) (56,932)
Acquisition of remaining noncontrolling equity interest in joint venture (1,950)
Purchase of digital assets (400)  
Redemption associated with acquisition of pre-existing equity method investment 17,457
Incremental acquisition of pre-existing equity method investment, net of cash (78,859)
Net cash used in investing activities (60,563) (130,393)
Cash flows from financing activities:    
Product financing arrangements, net 81,643 126,350
Dividends paid (22,645) (21,191)
Borrowings and repayments under lines of credit, net 30,000 50,000
Debt funding issuance costs (5,179) (1,861)
Net proceeds from the issuance of common stock 75,344
Net settlement on issuance of common shares on exercise of options 2,288 3,485
Net cash provided by financing activities 86,107 232,127
Net (decrease) increase in cash, cash equivalents, and restricted cash (63,622) 49,080
Cash, cash equivalents, and restricted cash, beginning of period 101,405 [1] 52,325
Cash, cash equivalents, and restricted cash, end of period [1] 37,783 101,405
Supplemental disclosures of cash flow information:    
Interest paid 20,576 17,933
Income taxes paid 42,548 42,426
Income taxes refunded 122 3,887
Non-cash investing and financing activities:    
Interest added to principal of secured loans 14 13
Fair value of shares exchanged for increase in long-term investment 11,683 $ 41,608
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.