FINANCIAL STATEMENT COMPONENTS (Tables)

9 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidated Balance Sheets


	As of		As of
(In thousands)	March 31, 2024		June 30, 2023
Accounts receivable, net:
Accounts receivable, gross	$	1,658,872	$	1,786,993
Allowance for credit losses	(33,615)		(33,632)
	$	1,625,257	$	1,753,361
Inventories:
Customer service parts	$	594,953	$	524,096
Raw materials	1,513,119		1,559,202
Work-in-process	674,193		578,864
Finished goods	224,788		214,622
	$	3,007,053	$	2,876,784
Other current assets:
Deferred costs of revenues	$	242,520	$	133,067
Prepaid expenses	115,377		121,204
Contract assets	87,621		117,137
Prepaid income and other taxes	76,900		64,901
Other current assets	79,052		62,419
	$	601,470	$	498,728
Land, property and equipment, net:
Land	$	78,260	$	72,287
Buildings and leasehold improvements	923,347		825,975
Machinery and equipment	1,095,517		1,016,713
Office furniture and fixtures	64,142		58,036
Construction-in-process	186,090		168,817
	2,347,356		2,141,828
Less: accumulated depreciation	(1,241,078)		(1,109,987)
	$	1,106,278	$	1,031,841
Other non-current assets:
Executive Deferred Savings Plan(1)	$	297,915	$	256,846
Operating lease right of use assets	241,163		208,706
Other non-current assets	161,143		171,910
	$	700,221	$	637,462
Other current liabilities:
Customer deposits	$	553,703	$	769,000
Compensation and benefits	447,294		370,536

Executive Deferred Savings Plan(1)	300,180		258,223
Income taxes payable	84,355		383,012
Interest payable	76,226		105,270
Operating lease liabilities	36,396		34,042
Other liabilities and accrued expenses	410,373		383,407
	$	1,908,527	$	2,303,490
Other non-current liabilities:
Income taxes payable	$	288,162	$	322,113
Customer deposits	123,315		156,874
Operating lease liabilities	158,376		138,354
Pension liabilities	58,198		63,672
Other non-current liabilities	145,155		132,045
	$	773,206	$	813,058

________________

(1)We have a non-qualified deferred compensation plan (known as the “Executive Deferred Savings Plan” or “EDSP”) under which certain employees and non-employee directors may defer a portion of their compensation. The expense associated with changes in the EDSP liability included in selling, general and administrative (“SG&A”) expense was $17.4 million and $13.1 million in the three months ended March 31, 2024 and 2023, respectively, and was $33.9 million and $14.7 million during the nine months ended March 31, 2024 and 2023, respectively. The amount of net gains associated with changes in the EDSP assets included in SG&A expense was $17.1 million and $13.1 million in the three months ended March 31, 2024 and 2023, respectively, and was $33.3 million and $14.7 million during the nine months ended March 31, 2024 and 2023, respectively. For additional details, refer to Note 1 “Description of Business and Summary of Significant Accounting Policies” to our Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023.

Schedule of Components of Accumulated Other Comprehensive Income (Loss)

The components of Accumulated Other Comprehensive Income (Loss) (“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 March 31, 2024	$	(70,421)	$	(3,255)	$	50,356	$	(18,200)	$	(41,520)

Balance as of June 30, 2023	$	(64,627)	$	(12,797)	$	59,944	$	(18,861)	$	(36,341)

Schedule of Reclassification out of Accumulated Other Comprehensive Income

The effects on net income of amounts reclassified from AOCI to the Condensed Consolidated Statements of Operations for the indicated periods were as follows (in thousands; amounts in parentheses indicate debits or reductions to earnings):


AOCI Components		Three Months Ended				Nine Months Ended
	Location in the Condensed Consolidated Statement of Operations	March 31,				March 31,
		2024		2023		2024		2023
Unrealized gains on cash flow hedges from foreign exchange and interest rate contracts	Revenues	$	4,439	$	1,421	$	15,871	$	31,954
	Costs of revenues and operating expenses	2,221		467		4,976		(8,804)
	Interest expense	944		936		2,818		2,810

	Net gains reclassified from AOCI	$	7,604	$	2,824	$	23,665	$	25,960
Unrealized gains (losses) on available-for-sale securities	Other expense (income), net	$	54	$	(250)	$	(19)	$	(831)