Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.22.4
Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net income $ 78,834,000 $ 58,063,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 6,444,000 16,529,000
Amortization of loan cost 1,140,000 1,559,000
Deferred income taxes 415,000 (3,183,000)
Interest added to principal of secured loans (6,000) (9,000)
Share-based compensation 1,069,000 1,055,000
Write-down of digital assets 12,000  
Earnings from equity method investments (7,346,000) (2,709,000)
Dividends received from equity method investees 551,000 0.0
Changes in assets and liabilities:    
Receivables (12,548,000) 4,006,000
Secured loans receivable 1,011,000 174,000
Secured loans made to affiliates   3,042,000
Derivative assets 49,955,000 19,808,000
Income tax receivable (2,525,000)  
Precious metals held under financing arrangements 22,479,000 66,122,000
Inventories (181,534,000) (100,325,000)
Prepaid expenses and other assets 371,000 (788,000)
Account payable and other payables 3,194,000 1,512,000
Deferred revenue and other advances (1,341,000) (36,051,000)
Derivative liabilities 27,154,000 40,212,000
Liabilities on borrowed metals (28,308,000) (24,432,000)
Accrued liabilities (7,157,000) (2,381,000)
Income tax payable (382,000) (3,673,000)
Net cash (used in) provided by operating activities (48,518,000) 38,531,000
Cash flows from investing activities:    
Capital expenditures for property, plant, and equipment (2,662,000) (1,627,000)
Purchase of long-term investments (500,000) (6,750,000)
Purchase of intangible assets (4,500,000)  
Secured loans receivable, net 22,742,000 (16,542,000)
Net cash provided by (used in) investing activities 15,080,000 (24,919,000)
Cash flows from financing activities:    
Product financing arrangements, net 64,589,000 (45,249,000)
Dividends paid (28,088,000) (22,639,000)
Distributions paid to noncontrolling interest (1,001,000)  
Borrowings and repayments under lines of credit, net 32,000,000 (25,000,000)
Repayments on notes payable to related party (2,135,000)  
Proceeds from issuance of related party note 3,887,000  
Debt funding issuance costs (219,000) (4,166,000)
Proceeds from the exercise of share-based awards 725,000 1,414,000
Payments for tax withholding related to net settlement of share-based awards (1,604,000) (25,000)
Net cash provided by (used in) financing activities 68,154,000 (95,665,000)
Net increase (decrease) in cash 34,716,000 (82,053,000)
Cash, beginning of period 37,783,000 [1] 101,405,000
Cash, end of period 72,499,000 [1] 19,352,000
Supplemental disclosures of cash flow information:    
Interest paid 14,015,000 10,670,000
Income taxes paid 24,931,000 22,277,000
Income taxes refunded (117,000)  
Non-cash investing and financing activities:    
Declared distributions and unpaid dividends 67,000  
Property, plant, and equipment acquired on account 71,000  
Interest added to principal of secured loans $ 6,000 9,000
Fair value of shares exchanged for increase in long-term investment   2,978,000
Addition of right of use assets under operating lease obligations   $ 2,013,000
[1] Includes amounts of the consolidated variable interest entity, which are presented separately in the table below.