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Business Combinations | 12 Months Ended
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Jun. 30, 2021
Business Combinations [Abstract] |
Business Combinations | (18) Business Combinations Fiscal years ended June 30, 2021 and June 30, 2020 During the years ended June 30, 2021 and 2020 we did no t complete any material business combinations or record material acquisition-related expenses. Fiscal year ended June 30, 2019 MatrixCare On November 13, 2018, we completed the acquisition of 100% of the shares in MatrixCare, Inc. and its subsidiaries (“MatrixCare”), a provider of software solutions for skilled nursing, life plan communities, senior living and private duty, for base purchase consideration paid of $750.0 million. This acquisition has been accounted for as a business combination using purchase accounting and included in our consolidated financial statements from November 13, 2018. The acquisition was paid for using borrowings under our revolving credit facility. During the year ended June 30, 2019, revenues of $79.2 million and losses from operations of $9.1 million related to MatrixCare were included in the consolidated statement of comprehensive income. The losses from operations for the year ended June 30, 2019 was negatively impacted by $19.0 million of amortization of acquired intangible assets and fair value purchase price adjustments relating to deferred revenue of $5.3 million. Excluding the impact of these items, revenue for the year ended June 30, 2019 was $84.6 million and income from operations was $15.3 million. The acquisition is considered a material business combination and accordingly unaudited pro forma information is presented below for the year ended June 30, 2019. The pro forma results were prepared using the acquisition method of accounting and combine our historical results and MatrixCare’s for the year ended June 30, 2019, including the effects of the business combination, primarily amortization expense related to the fair value of identifiable intangible assets acquired, interest expense associated with the financing obtained by us in connection with the acquisition, and the elimination of incurred acquisition-related costs. The pro forma financial information presented below is not necessarily indicative of the results of operations that would have been achieved if the acquisition occurred at the beginning of the earliest period presented, nor is it intended to be a projection of future results. The following table summarized unaudited pro forma consolidated results for the year ended June 30, 2019 (in thousands, except per share information):
|  |  |  | 2019
Revenue |  |  |  |  | $ | 2,652,059
Net income |  |  |  |  | $ | 446,721
Basic earnings per share |  |  |  |  | $ | 3.12
Diluted earnings per share |  |  |  |  | $ | 3.09
The unaudited pro forma consolidated results for the year ended June 30, 2019 reflects primarily the following pro forma pre-tax adjustments: Net amortization expense related to the fair value of identifiable intangible assets acquired of $0.6 million. Net interest expense associated with debt that was issued to finance the acquisition of $2.6 million. Elimination of pre-tax acquisition-related costs incurred by ResMed and MatrixCare of $3.7 million and $16.7 million, respectively. Net income tax expense of $1.8 million.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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