v3.22.4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net income $ 49,776 $ 45,325
Net income from discontinued operations 0 100
Net income from continuing operations 49,776 45,225
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 14,285 14,879
Amortization of debt issue costs 385 209
Provision for doubtful accounts 33 921
Share-based compensation 5,679 6,032
Deferred income taxes 932 (109)
Finance lease interest 24 26
Changes in operating assets and liabilities:    
Accounts receivable (49,541) (54,370)
Inventories (146,826) (95,531)
Prepaid expenses and other assets 30,487 (11,236)
Other non-current assets (7,168) (1,561)
Accounts payable 33,820 25,444
Accrued expenses and other liabilities (13,268) (5,130)
Income taxes payable 6,036 (177)
Net cash used in operating activities (75,346) (75,378)
Cash flows from investing activities:    
Capital expenditures (4,262) (2,645)
Proceeds from the sale of discontinued operations 0 3,125
Net cash (used in) provided by investing activities (4,262) 480
Cash flows from financing activities:    
Borrowings on revolving credit, net of expenses 1,232,058 1,115,161
Repayments on revolving credit, net of expenses (1,137,897) (1,057,376)
Borrowings (repayments) on long-term debt, net 17,465 (4,093)
Repayments on finance lease obligation (492) (624)
Debt issuance costs (1,407) 0
Exercise of stock options 634 1,114
Taxes paid on settlement of equity awards (2,332) (2,634)
Common stock repurchased 0 (183)
Net cash provided by financing activities 108,029 51,365
Effect of exchange rate changes on cash and cash equivalents 37 (5,062)
Increase (decrease) in cash and cash equivalents 28,458 (28,595)
Cash and cash equivalents at beginning of period 37,987 62,718
Cash and cash equivalents at end of period $ 66,445 $ 34,123