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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments, Location, Designated and Non-Designated, Gains (Losses)

The gains (losses) on derivatives in cash flow and net investment hedging relationships recognized in other comprehensive income for the indicated periods were as follows:

			Three Months Ended March 31,												Nine Months Ended March 31,
(In thousands)			2024						2023						2024						2023
Derivatives Designated as Cash Flow Hedging Instruments:
Rate lock agreements:
Amounts included in the assessment of effectiveness			$	3,800					$	—					$	415					$	—
Foreign exchange contracts:
Amounts included in the assessment of effectiveness			$	(790)					$	6,008					$	10,861					$	16,720
Amounts excluded from the assessment of effectiveness			$	(7)					$	652					$	52					$	(53)
Derivatives Designated as Net Investment Hedging Instruments:
Foreign exchange contracts(1):			$	8,150					$	154					$	1,080					$	1,986

    __________________ 

(1)No amounts were reclassified from AOCI into earnings related to the sale of a subsidiary, as there were no such sales during the periods presented.

The locations and amounts of designated and non-designated derivatives’ gains and losses reported in the Condensed Consolidated Statements of Operations for the indicated periods were as follows:

			Three Months Ended March 31,																								Three Months Ended March 31,
			2024																								2023
(In thousands)			Revenues						Costs of Revenues and Operating Expenses						Interest Expense						Other Expense (Income), Net						Revenues						Costs of Revenues and Operating Expenses						Interest Expense						Other Expense (Income), Net
Total amounts presented in the Condensed Consolidated Statements of Operations in which the effects of cash flow hedges are recorded			$	2,359,830					$	1,623,463					$	79,981					$	(45,622)					$	2,432,608					$	1,572,015					$	74,774					$	(14,864)
Gains (Losses) on Derivatives Designated as Hedging Instruments:
Rate lock agreements:
Amount of gains (losses) reclassified from AOCI to earnings			$	—					$	—					$	944					$	—					$	—					$	—					$	936					$	—
Foreign exchange contracts:
Amount of gains (losses) reclassified from AOCI to earnings			$	4,688					$	2,221					$	—					$	—					$	1,748					$	467					$	—					$	—
Amount excluded from the assessment of effectiveness recognized in earnings			$	(249)					$	—					$	—					$	(7)					$	(327)					$	—					$	—					$	765
Gains (Losses) on Derivatives Not Designated as Hedging Instruments:
Amount of gains (losses) recognized in earnings			$	—					$	—					$	—					$	5,762					$	—					$	—					$	—					$	(9,066)

			Nine Months Ended March 31,																								Nine Months Ended March 31,
			2024																								2023
(In thousands)			Revenues						Costs of Revenues and Operating Expenses						Interest Expense						Other Expense (Income), Net						Revenues						Costs of Revenues and Operating Expenses						Interest Expense						Other Expense (Income), Net
Total amounts presented in the Condensed Consolidated Statements of Operations in which the effects of cash flow hedges are recorded			$	7,243,512					$	4,874,621					$	228,417					$	(104,515)					$	8,140,919					$	4,970,444					$	223,449					$	(79,944)
Gains (Losses) on Derivatives Designated as Hedging Instruments:
Rate lock agreements:
Amount of gains (losses) reclassified from AOCI to earnings			$	—					$	—					$	2,818					$	—					$	—					$	—					$	2,810					$	—
Foreign exchange contracts:
Amount of gains (losses) reclassified from AOCI to earnings			$	16,633					$	4,976					$	—					$	—					$	33,024					$	(8,804)					$	—					$	—
Amount excluded from the assessment of effectiveness recognized in earnings			$	(762)					$	—					$	—					$	52					$	(1,070)					$	—					$	—					$	1,675
Gains (Losses) on Derivatives Not Designated as Hedging Instruments:
Amount of gains (losses) recognized in earnings			$	—					$	—					$	—					$	7,427					$	—					$	—					$	—					$	(2,773)

Schedule of Notional Amounts of Derivatives Outstanding

The U.S. dollar equivalent of all outstanding notional amounts of foreign currency hedge contracts and rate lock agreements, with maximum remaining maturities of approximately 12 months as of the dates indicated below, were as follows:

			As of						As of
(In thousands)			March 31, 2024						June 30, 2023
Cash flow hedge contracts - foreign currency
Purchase			$	472,467					$	218,315
Sell			$	81,828					$	123,951
Net investment hedge contracts - foreign currency
Sell			$	210,918					$	87,157
Other foreign currency hedge contracts
Purchase			$	589,764					$	527,349
Sell			$	368,664					$	204,902

Schedule of Derivative Instruments, Fair Value

The locations and fair value of our derivatives reported in our Condensed Consolidated Balance Sheets as of the dates indicated below were as follows:

			Asset Derivatives																		Liability Derivatives
			Balance Sheet						As of						As of						Balance Sheet						As of						As of
			Location						March 31, 2024						June 30, 2023						Location						March 31, 2024						June 30, 2023
(In thousands)									Fair Value																		Fair Value
Derivatives designated as hedging instruments
Foreign exchange contracts			Other current assets						$	9,967					$	24,498					Other current liabilities						$	(2,329)					$	(442)
Total derivatives designated as hedging instruments									9,967						24,498												(2,329)						(442)
Derivatives not designated as hedging instruments
Foreign exchange contracts			Other current assets						25,871						11,214						Other current liabilities						(14,387)						(11,664)
Total derivatives not designated as hedging instruments									25,871						11,214												(14,387)						(11,664)
Total derivatives									$	35,838					$	35,712											$	(16,716)					$	(12,106)

Schedule of Balances and Changes in Accumulated Other Comprehensive Income Related to Derivative Instruments

The changes in AOCI, before taxes, related to derivatives for the indicated periods were as follows:

			Three Months Ended March 31,												Nine Months Ended March 31,
(In thousands)			2024						2023						2024						2023
Beginning AOCI			$	66,805					$	65,721					$	81,611					$	77,018
Amount reclassified to earnings as net gains			(7,604)						(2,824)						(23,665)						(25,960)
Net change in unrealized gains			11,153						6,814						12,408						18,653
Ending AOCI			$	70,354					$	69,711					$	70,354					$	69,711

Schedule of Offsetting Derivative Assets

The information related to the offsetting arrangements for the periods indicated was as follows:

As of March 31, 2024																								Gross Amounts of Derivatives Not Offset in the Condensed Consolidated Balance Sheets
(In thousands)						Gross Amounts of Derivatives						Gross Amounts of Derivatives Offset in the Condensed Consolidated Balance Sheets						Net Amount of Derivatives Presented in the Condensed Consolidated Balance Sheets						Financial Instruments						Cash Collateral Received						Net Amount
Derivatives - assets						$	35,838					$	—					$	35,838					$	(14,809)					$	—					$	21,029
Derivatives - liabilities						$	(16,716)					$	—					$	(16,716)					$	14,809					$	—					$	(1,907)

As of June 30, 2023																								Gross Amounts of Derivatives Not Offset in the Condensed Consolidated Balance Sheets
(In thousands)						Gross Amounts of Derivatives						Gross Amounts of Derivatives Offset in the Condensed Consolidated Balance Sheets						Net Amount of Derivatives Presented in the Condensed Consolidated Balance Sheets						Financial Instruments						Cash Collateral Received						Net Amount
Derivatives - assets						$	35,712					$	—					$	35,712					$	(8,968)					$	—					$	26,744
Derivatives - liabilities						$	(12,106)					$	—					$	(12,106)					$	8,968					$	—					$	(3,138)

Schedule of Offsetting Derivative Liabilities

The information related to the offsetting arrangements for the periods indicated was as follows:

As of March 31, 2024																								Gross Amounts of Derivatives Not Offset in the Condensed Consolidated Balance Sheets
(In thousands)						Gross Amounts of Derivatives						Gross Amounts of Derivatives Offset in the Condensed Consolidated Balance Sheets						Net Amount of Derivatives Presented in the Condensed Consolidated Balance Sheets						Financial Instruments						Cash Collateral Received						Net Amount
Derivatives - assets						$	35,838					$	—					$	35,838					$	(14,809)					$	—					$	21,029
Derivatives - liabilities						$	(16,716)					$	—					$	(16,716)					$	14,809					$	—					$	(1,907)

As of June 30, 2023																								Gross Amounts of Derivatives Not Offset in the Condensed Consolidated Balance Sheets
(In thousands)						Gross Amounts of Derivatives						Gross Amounts of Derivatives Offset in the Condensed Consolidated Balance Sheets						Net Amount of Derivatives Presented in the Condensed Consolidated Balance Sheets						Financial Instruments						Cash Collateral Received						Net Amount
Derivatives - assets						$	35,712					$	—					$	35,712					$	(8,968)					$	—					$	26,744
Derivatives - liabilities						$	(12,106)					$	—					$	(12,106)					$	8,968					$	—					$	(3,138)

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