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INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Taxes, Domestic and Foreign

The components of income before income taxes were as follows: 

			Year Ended June 30,
(In thousands)			2021						2020						2019
Domestic income before income taxes			$	1,251,820					$	752,844					$	545,401
Foreign income before income taxes			1,108,634						563,867						750,830
Total income before income taxes			$	2,360,454					$	1,316,711					$	1,296,231

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes was comprised of the following: 

(In thousands)			Year Ended June 30,
			2021						2020						2019
Current:
Federal			$	201,413					$	108,136					$	82,460
State			6,164						518						5,665
Foreign			121,146						86,374						59,274
			328,723						195,028						147,399
Deferred:
Federal			(31,989)						(26,743)						1,636
State			(1,155)						(1,174)						2,118
Foreign			(12,478)						(65,425)						(29,939)
			(45,622)						(93,342)						(26,185)
Provision for income taxes			$	283,101					$	101,686					$	121,214

Schedule of Deferred Tax Assets and Liabilities

The significant components of deferred income tax assets and liabilities were as follows:

(In thousands)			As of June 30,
			2021						2020
Deferred tax assets:
Tax credits and net operating losses			$	237,480					$	214,305
Employee benefits accrual			82,055						67,729
Stock-based compensation			7,284						8,871
Inventory reserves			81,224						73,939
Non-deductible reserves			36,267						20,526
Unearned revenue			15,712						15,786
Unrealized loss on investments			5,384						5,345
Other			54,615						66,667
Gross deferred tax assets			520,021						473,168
Valuation allowance			(204,433)						(181,846)
Net deferred tax assets			$	315,588					$	291,322
Deferred tax liabilities:
Unremitted earnings of foreign subsidiaries not indefinitely reinvested			$	(278,014)					$	(257,757)
Deferred profit			(10,044)						(18,111)
Depreciation and amortization			(407,692)						(439,685)
Total deferred tax liabilities			(695,750)						(715,553)
Total net deferred tax assets (liabilities)			$	(380,162)					$	(424,231)

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of the U.S. federal statutory income tax rate to our effective income tax rate was as follows: 

			Year ended June 30,
			2021						2020						2019
Federal statutory rate			21.0		%				21.0		%				21.0		%
State income taxes, net of federal benefit			0.2		%				0.2		%				0.5		%
Effect of foreign operations taxed at various rates			(6.6)		%				(12.1)		%				(10.5)		%
Tax rate change on deferred tax liability on purchased intangibles			1.7		%				—		%				—		%
Tax Cuts and Jobs Act of 2017 - Transition tax and deferred tax effects			—		%				—		%				(1.5)		%
Global intangible low-taxed income			2.6		%				3.0		%				3.5		%
Foreign derived intangible income			(4.3)		%				(5.0)		%				(4.0)		%
Research and development tax credit			(1.1)		%				(1.8)		%				(1.8)		%
Net change in tax reserves			(1.1)		%				1.5		%				1.4		%
Non-deductible impairment of goodwill			—		%				4.1		%				—		%
Effect of stock-based compensation			(0.3)		%				(0.3)		%				0.4		%
Restructuring			—		%				(2.6)		%				—		%
Other			(0.1)		%				(0.3)		%				0.4		%
Effective income tax rate			12.0		%				7.7		%				9.4		%

Schedule of Income Tax Contingencies

A reconciliation of gross unrecognized tax benefits was as follows: 

			Year Ended June 30,
(In thousands)			2021						2020						2019
Unrecognized tax benefits at the beginning of the year			$	172,443					$	146,426					$	63,994
Increases for tax positions from acquisitions			—						—						60,753
Increases for tax positions taken in prior years			6,557						6,826						13,001
Decreases for tax positions taken in prior years			(19,360)						(518)						(1,304)
Increases for tax positions taken in current year			31,113						34,278						26,178
Decreases for settlements with taxing authorities			(28,651)						—						—
Decreases for lapsing of statutes of limitations			(12,460)						(14,569)						(16,196)
Unrecognized tax benefits at the end of the year			$	149,642					$	172,443					$	146,426

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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