Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net income $ 32,920,000 $ 1,558,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 1,006,000 1,334,000
Amortization of loan cost 968,000 730,000
Deferred income taxes   474,000
Interest added to principal of secured loans (4,000) (10,000)
Share-based compensation 388,000 410,000
Earnings from equity method investments (6,488,000) (114,000)
Changes in assets and liabilities:    
Receivables (52,722,000) 2,297,000
Secured loans receivable (309,000) 2,131,000
Secured loans made to affiliates 8,662,000 5,108,000
Derivative assets (11,524,000) (2,931,000)
Income tax receivable   7,000
Precious metals held under financing arrangements 18,322,000 11,820,000
Inventories (196,401,000) 29,930,000
Prepaid expenses and other assets (532,000) 359,000
Accounts payable and other current liabilities 1,442,000 174,000
Derivative liabilities 25,395,000 (923,000)
Liabilities on borrowed metals (26,410,000) (8,255,000)
Accrued liabilities (1,068,000) (743,000)
Income tax payable (1,420,000)  
Net cash (used in) provided by operating activities (207,775,000) 43,356,000
Cash flows from investing activities:    
Capital expenditures for property, plant, and equipment (937,000) (455,000)
Purchase of long-term investments (6,763,000)  
Purchase of intangible assets   (150,000)
Secured loans receivable, net (40,456,000) (34,274,000)
Other secured loans, net 1,000,000 (3,500,000)
Net cash used in investing activities (47,156,000) (38,379,000)
Cash flows from financing activities:    
Product financing arrangements, net 197,853,000 (14,739,000)
Dividends paid (21,191,000)  
Borrowings and repayments under lines of credit, net 40,000,000 13,000,000
Debt funding issuance costs (551,000)  
Net settlement on issuance of common shares on exercise of options 1,417,000  
Net cash provided by (used in) financing activities 217,528,000 (1,739,000)
Net (decrease) increase in cash, cash equivalents, and restricted cash (37,403,000) 3,238,000
Cash, cash equivalents, and restricted cash, beginning of period 52,325,000 [1] 8,320,000
Cash, cash equivalents, and restricted cash, end of period 14,922,000 [1] 11,558,000
Supplemental disclosures of cash flow information:    
Interest paid 7,721,000 10,026,000
Income taxes paid 11,561,000 50,000
Income taxes refunded (1,044,000)  
Non-cash investing and financing activities:    
Interest added to principal of secured loans $ 4,000 $ 10,000
[1] Includes amounts of the consolidated variable interest entity, which is presented separately in the table below.