Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.23.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 18,983 $ 45,237
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 2,792 3,184
Amortization of loan cost 522 554
Share-based compensation 664 535
Earnings from equity method investments (2,709) (2,677)
Dividends and distributions received from equity method investees 269 551
Other 344 (40)
Changes in assets and liabilities:    
Receivables, net 928 (13,808)
Secured loans receivable 0 368
Derivative assets (9,692) 59,236
Precious metals held under financing arrangements 6,251 30,439
Inventories (19,166) 115,522
Prepaid expenses and other assets (878) (1,738)
Account payable and other payables (16,665) 22,447
Deferred revenue and other advances (30,194) 7,638
Derivative liabilities 12,341 14,119
Liabilities on borrowed metals 85 (3,508)
Accrued liabilities (10,686) (8,282)
Income tax payable 2,549 9,845
Net cash used in operating activities (44,262) 279,622
Cash flows from investing activities:    
Capital expenditures for property, plant, and equipment (1,886) (927)
Purchase of long-term investments 0 (500)
Secured loans receivable, net 1,458 38,540
Net cash used in investing activities (428) 37,113
Cash flows from financing activities:    
Product financing arrangements, net 53,784 (115,662)
Dividends paid (28,034) (23,394)
Distributions paid to noncontrolling interest 0 (1,001)
Net borrowings and repayments under lines of credit 35,000 (152,000)
Proceeds from issuance of related party note 0 3,887
Repayments on notes payable to related party (257) 0
Repurchases of common stock (4,904) 0
Debt funding issuance costs (2,625) (170)
Proceeds from the exercise of share-based awards 960 63
Payments for tax withholding related to net settlement of share-based awards (307) (1,606)
Net cash provided by financing activities 53,617 (289,883)
Net increase in cash 8,927 26,852
Cash, beginning of period 39,318 [1] 37,783
Cash, end of period 48,245 [1] 64,635
Supplemental disclosures of cash flow information:    
Interest paid 8,494 5,768
Income taxes paid 2,757 2,968
Income taxes refunded 363 0
Non-cash investing and financing activities:    
Declared distributions and unpaid dividends 4,745 4,690
Property, plant, and equipment acquired on account 0 178
Interest added to principal of secured loans 5 $ 4
Repurchases of common stock on account $ 112  
[1] Includes amounts of the consolidated variable interest entity, which are presented separately in the table below.