Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2019
Sep. 30, 2018
Mar. 31, 2018
Sep. 30, 2017
Mar. 31, 2019
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:              
Net income $ 192,645 $ 395,944 $ 306,881 $ 280,936   $ 957,689 $ 453,498
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation and amortization           105,338 47,695
Loss (gains) on unrealized foreign exchange and other           4,863 (1,221)
Stock-based compensation expense           66,026 43,980
Changes in assets and liabilities, net of assets acquired and liabilities assumed in business acquisitions:              
Accounts receivable         $ (322,143) (92,586) (78,128)
Inventories           (72,740) (104,921)
Other assets           15,057 16,276
Accounts payable           (17,795) 21,375
Deferred system revenue           (67,428) 0
Deferred service revenue           (16,485) 0
Deferred system profit           0 79,147
Other liabilities           (54,768) 377,906
Net cash provided by operating activities           827,171 855,607
Cash flows from investing activities:              
Acquisition of non-marketable securities           (630) (3,377)
Business acquisitions, net of cash acquired           (1,818,283) (5,490)
Capital expenditures           (74,652) (44,119)
Purchases of available-for-sale securities           (2,686) (438,673)
Proceeds from sale of available-for-sale securities           239,528 165,030
Proceeds from maturity of available-for-sale securities           443,107 489,569
Purchases of trading securities           (62,428) (65,160)
Proceeds from sale of trading securities           64,623 67,063
Net cash (used in) provided by investing activities           (1,211,421) 164,843
Cash flows from financing activities:              
Proceeds from issuance of debt, net of issuance costs           1,186,263 0
Proceeds from revolving credit facility, net of debt issuance costs           900,000 248,693
Repayment of debt           (902,474) (721,250)
Common stock repurchases           (750,216) (165,078)
Payment of dividends to stockholders           (350,900) (285,030)
Issuance of common stock           20,556 20,571
Tax withholding payments related to vested and released restricted stock units           (30,575) (26,623)
Payment of contingent consideration payable           (513) 0
Net cash provided by (used in) financing activities           72,141 (928,717)
Effect of exchange rate changes on cash and cash equivalents           (110) 10,898
Net (decrease) increase in cash and cash equivalents           (312,219) 102,631
Cash and cash equivalents at beginning of period   $ 1,404,382   $ 1,153,051   1,404,382 1,153,051
Cash and cash equivalents at end of period 1,092,163   1,255,682   1,092,163 1,092,163 1,255,682
Supplemental cash flow disclosures:              
Income taxes paid           164,701 221,797
Interest paid           55,529 61,028
Non-cash activities:              
Issuance of common stock for the acquisition of Orbotech Ltd. - financing activities           1,330,786 0
Contingent consideration payable - financing activities           6,740 0
Dividends payable - financing activities $ 6,494   $ 8,408   $ 6,494 6,494 8,408
Unsettled common stock repurchase - financing activities           5,988 0
Accrued debt issuance costs - financing activities           2,530 0
Accrued purchases of land, property and equipment - investing activities           $ 6,370 $ 9,728