FINANCIAL STATEMENT COMPONENTS (Tables)

6 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidated Balance Sheets


	As of		As of
(In thousands)	December 31, 2024		June 30, 2024
Accounts receivable, net:
Accounts receivable, gross	$	2,365,480	$	1,865,823
Allowance for credit losses	(30,503)		(32,782)
	$	2,334,977	$	1,833,041
Inventories:
Customer service parts	$	585,981	$	589,751
Raw materials	1,409,128		1,485,400
Work-in-process	768,134		700,895
Finished goods	283,097		258,735
	$	3,046,340	$	3,034,781
Other current assets:
Deferred costs of revenues	$	250,035	$	279,879
Prepaid expenses	143,956		124,969
Contract assets	82,292		69,259
Prepaid income and other taxes	69,755		102,398
Other current assets	64,844		82,822
	$	610,882	$	659,327
Land, property and equipment, net:
Land	$	86,670	$	78,260
Buildings and leasehold improvements	986,859		919,919
Machinery and equipment	1,164,974		1,116,793
Office furniture and fixtures	67,582		64,480
Construction-in-process	255,852		215,006
	2,561,937		2,394,458
Less: accumulated depreciation	(1,388,009)		(1,284,490)
	$	1,173,928	$	1,109,968
Other non-current assets:
Executive Deferred Savings Plan(1)	$	320,295	$	303,365
Operating lease right of use assets	249,036		231,812
Other non-current assets	149,722		157,546
	$	719,053	$	692,723
Other current liabilities:
Compensation and benefits	$	547,845	$	371,713
Customer deposits	486,322		645,893
Executive Deferred Savings Plan(1)	321,464		303,088
Income taxes payable	185,191		146,740
Interest payable	122,783		128,727
Operating lease liabilities	40,578		36,391
Other liabilities and accrued expenses	407,195		431,017
	$	2,111,378	$	2,063,569
Other non-current liabilities:
Income taxes payable	$	224,208	$	291,106
Operating lease liabilities	149,648		153,117
Customer deposits	56,535		99,794
Pension liabilities	53,094		51,778
Other non-current liabilities	155,633		147,320
	$	639,118	$	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 associated with changes in the EDSP liability included in selling, general and administrative (“SG&A”) was $3.3 million and $25.8 million in the three months ended December 31, 2024 and 2023, respectively, and was $21.3 million and $16.5 million during the six months ended December 31, 2024 and 2023, respectively. The amount of net gains associated with changes in the EDSP assets included in SG&A expense was $3.5 million and $25.7 million in the three months ended December 31, 2024 and 2023, respectively, and $21.4 million and $16.2 million during the six months ended December 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, 2024.

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 December 31, 2024	$	(80,016)	$	2,316	$	46,557	$	(15,243)	$	(46,386)

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

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				Six Months Ended
	Location in the Condensed Consolidated Statement of Operations	December 31,				December 31,
		2024		2023		2024		2023
Unrealized gains on cash flow hedges from foreign exchange and interest rate contracts	Revenues	$	1,011	$	8,036	$	3,546	$	11,432
	Costs of revenues and operating expenses	428		(20)		454		2,755
	Interest expense	821		937		1,768		1,874

	Net gains reclassified from AOCI	$	2,260	$	8,953	$	5,768	$	16,061
Unrealized gains (losses) on available-for-sale securities	Other expense (income), net	$	1	$	(61)	$	—	$	(73)