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FINANCIAL STATEMENT COMPONENTS | 12 Months Ended
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Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
FINANCIAL STATEMENT COMPONENTS | FINANCIAL STATEMENT COMPONENTS Consolidated Balance Sheets
| As of June 30,
(In thousands) | 2023 |  | 2022
Accounts receivable, net: |  |  |
Accounts receivable, gross | $ | 1,786,993 |  |  | $ | 1,832,508 |
Allowance for credit losses | (33,632) |  |  | (20,631) |
| $ | 1,753,361 |  |  | $ | 1,811,877 |
Inventories: |  |  |
Customer service parts | $ | 524,096 |  |  | $ | 402,121 |
Raw materials | 1,559,202 |  |  | 1,042,916 |
Work-in-process | 578,864 |  |  | 451,782 |
Finished goods | 214,622 |  |  | 250,070 |
| $ | 2,876,784 |  |  | $ | 2,146,889 |
Other current assets: |  |  |
Deferred costs of revenue | $ | 133,067 |  |  | $ | 124,487 |
Contract assets | 117,137 |  |  | 114,747 |
Prepaid expenses | 121,204 |  |  | 108,942 |
Prepaid income and other taxes | 64,901 |  |  | 89,713 |
Other current assets | 62,419 |  |  | 64,248 |
| $ | 498,728 |  |  | $ | 502,137 |
Land, property and equipment, net: |  |  |
Land | $ | 72,287 |  |  | $ | 67,846 |
Buildings and leasehold improvements | 825,975 |  |  | 712,751 |
Machinery and equipment | 1,016,713 |  |  | 819,191 |
Office furniture and fixtures | 58,036 |  |  | 44,957 |
Construction-in-process | 168,817 |  |  | 110,079 |
| 2,141,828 |  |  | 1,754,824 |
Less: accumulated depreciation | (1,109,987) |  |  | (904,895) |
| $ | 1,031,841 |  |  | $ | 849,929 |
Other non-current assets: |  |  |
EDSP | $ | 256,846 |  |  | $ | 224,188 |
Operating lease ROU assets | 208,706 |  |  | 126,444 |
Other non-current assets | 171,910 |  |  | 133,980 |
| $ | 637,462 |  |  | $ | 484,612 |
Other current liabilities: |  |  |
Customer deposits | $ | 769,000 |  |  | $ | 394,016 |
Compensation and benefits | 370,536 |  |  | 351,924 |
EDSP | 258,223 |  |  | 225,867 |
Income taxes payable | 383,012 |  |  | 126,964 |
Interest payable | 105,270 |  |  | 39,683 |
Operating lease liabilities | 34,042 |  |  | 32,218 |
Other liabilities and accrued expenses | 383,407 |  |  | 374,367 |
| $ | 2,303,490 |  |  | $ | 1,545,039 |
Other non-current liabilities: |  |  |
Income taxes payable | $ | 322,113 |  |  | $ | 367,052 |
Customer deposits | 156,874 |  |  | 204,914 |
Operating lease liabilities | 138,354 |  |  | 81,369 |
Pension liabilities | 63,672 |  |  | 78,525 |
Other non-current liabilities | 132,045 |  |  | 150,782 |
| $ | 813,058 |  |  | $ | 882,642 |
Accumulated Other Comprehensive Income (Loss) The components of AOCI as of the dates indicated below were as follows:
(In thousands) | Currency Translation Adjustments |  | Unrealized Gains (Losses) on Available-for-Sale Securities |  | Unrealized Gains (Losses) on Derivatives |  | Unrealized Gains (Losses) on Defined Benefit Plans |  | Total
Balance as of June 30, 2023 | $ | (64,627) |  |  | $ | (12,797) |  |  | $ | 59,944 |  |  | $ | (18,861) |  |  | $ | (36,341) |
Balance as of June 30, 2022 | $ | (43,886) |  |  | $ | (15,486) |  |  | $ | 56,836 |  |  | $ | (24,935) |  |  | $ | (27,471) |
The effects on net income of amounts reclassified from AOCI to the Consolidated Statements of Operations for the indicated periods were as follows (in thousands, amounts in parentheses indicate debits or reductions to earnings):
|  | Location in the Consolidated Statements of Operations |  | Year Ended June 30,
AOCI Components |  |  | 2023 |  | 2022 |  | 2021
Unrealized gains (losses) on cash flow hedges from foreign exchange and interest rate contracts |  | Revenues |  | $ | 31,837 |  |  | $ | 10,688 |  |  | $ | 384 |
|  | Costs of revenues and operating expenses |  | (6,526) |  |  | (3,762) |  |  | 551 |
|  | Interest expense |  | 3,747 |  |  | (1,007) |  |  | (1,116) |
|  | Net gains (losses) reclassified from AOCI |  | $ | 29,058 |  |  | $ | 5,919 |  |  | $ | (181) |
Unrealized gains (losses) on available-for-sale securities |  | Other expense (income), net |  | $ | (986) |  |  | $ | (306) |  |  | $ | 253 |
The amounts reclassified out of AOCI related to our defined benefit pension plans, which were recognized as a component of net periodic cost for the fiscal years ended June 30, 2023, 2022 and 2021 were $1.7 million, $1.4 million and $1.2 million, respectively. For additional details, refer to Note 13 “Employee Benefit Plans.” Consolidated Statements of Operations The following table shows Other expense (income), net for the indicated periods:
| Year Ended June 30,
(In thousands) | 2023 |  | 2022 |  | 2021
Other expense (income), net: |  |  |  |  |
Interest income | $ | (74,095) |  |  | $ | (8,695) |  |  | $ | (8,929) |
Foreign exchange losses, net | 233 |  |  | 3,925 |  |  | 5,005 |
Net realized losses (gains) on sale of investments | 986 |  |  | 306 |  |  | (253) |
Other | (31,844) |  |  | 9,069 |  |  | (25,125) |
| $ | (104,720) |  |  | $ | 4,605 |  |  | $ | (29,302) |

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