FINANCIAL STATEMENT COMPONENTS

3 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidated Balance Sheets


	As of		As of
(In thousands)	September 30, 2024		June 30, 2024
Accounts receivable, net:
Accounts receivable, gross	$	1,985,777	$	1,865,823
Allowance for credit losses	(32,621)		(32,782)
	$	1,953,156	$	1,833,041
Inventories:
Customer service parts	$	602,206	$	589,751
Raw materials	1,489,622		1,485,400
Work-in-process	736,878		700,895
Finished goods	281,131		258,735
	$	3,109,837	$	3,034,781
Other current assets:
Deferred costs of revenues	$	215,370	$	279,879
Prepaid expenses	118,366		124,969
Contract assets	71,407		69,259
Prepaid income and other taxes	58,210		102,398
Other current assets	72,377		82,822
	$	535,730	$	659,327
Land, property and equipment, net:
Land	$	78,259	$	78,260
Buildings and leasehold improvements	925,296		919,919
Machinery and equipment	1,139,003		1,116,793
Office furniture and fixtures	64,416		64,480
Construction-in-process	241,060		215,006
	2,448,034		2,394,458
Less: accumulated depreciation	(1,329,722)		(1,284,490)
	$	1,118,312	$	1,109,968
Other non-current assets:
Executive Deferred Savings Plan(1)	$	318,855	$	303,365
Operating lease right of use assets	250,460		231,812
Other non-current assets	156,348		157,546
	$	725,663	$	692,723
Other current liabilities:
Customer deposits	$	610,630	$	645,893
Compensation and benefits	479,471		371,713
Income taxes payable	347,503		146,740
Executive Deferred Savings Plan(1)	319,432		303,088
Interest payable	77,504		128,727
Operating lease liabilities	40,414		36,391
Other liabilities and accrued expenses	407,094		431,017
	$	2,282,048	$	2,063,569
Other non-current liabilities:
Income taxes payable	$	217,015	$	291,106
Operating lease liabilities	154,325		153,117
Customer deposits	71,564		99,794
Pension liabilities	56,924		51,778
Other non-current liabilities	151,240		147,320
	$	651,068	$	743,115

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(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 (benefit) associated with changes in the EDSP liability included in selling, general and administrative (“SG&A”) was $18.0 million and $(9.3) million during the three months ended September 30, 2024 and 2023, respectively. The amount of net gains (losses) associated with changes in the EDSP assets included in SG&A expense was $17.9 million and $(9.5) million during the three months ended September 30, 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, 2024.

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 September 30, 2024	$	(66,737)	$	9,237	$	48,046	$	(16,050)	$	(25,504)

Balance as of June 30, 2024	$	(75,846)	$	(3,654)	$	46,243	$	(15,818)	$	(49,075)

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
	Location in the Condensed Consolidated Statement of Operations	September 30,
		2024		2023
Unrealized gains on cash flow hedges from foreign exchange and interest rate contracts	Revenues	$	2,535	$	3,396
	Costs of revenues and operating expenses	26		2,775
	Interest expense	947		937

	Net gains reclassified from AOCI	$	3,508	$	7,108
Unrealized losses on available-for-sale securities	Other expense (income), net	$	(1)	$	(12)

The amount reclassified out of AOCI related to our defined benefit pension plans that was recognized as a component of net periodic cost for the three months ended September 30, 2024 and 2023 was $0.2 million and $0.3 million, respectively. For additional details, refer to Note 13 “Employee Benefit Plans” to our Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024.