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Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended
--- | ---
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2022
Net revenue | $ 4,685,297 | $ 4,222,993 | $ 3,578,127
Cost of sales (exclusive of amortization shown separately below) | 1,997,031 | 1,836,935 | 1,514,166
Amortization of acquired intangible assets | 32,963 | 30,396 | 39,650
Total cost of sales | 2,029,994 | 1,867,331 | 1,553,816
Gross profit | 2,655,303 | 2,355,662 | 2,024,311
Operating Expenses [Abstract] |  |  |
Selling, general, and administrative | 917,136 | 874,003 | 737,508
Research and development | 307,525 | 287,642 | 253,575
Amortization of acquired intangible assets | 46,521 | 42,020 | 31,078
Restructuring expenses (note 18) | 64,228 | 9,177 | 0
Acquisition related expenses | 0 | 10,949 | 1,864
Total operating expenses | 1,335,410 | 1,223,791 | 1,024,025
Income from operations | 1,319,893 | 1,131,871 | 1,000,286
Other income (loss), net: |  |  |
Interest expense, net | (45,708) | (47,379) | (22,312)
Loss attributable to equity method investments (note 6) | (1,848) | (7,265) | (8,486)
(Loss) gain on equity investments (note 6) | (4,045) | 9,922 | (12,202)
Gain on insurance recoveries | 0 | 20,227 | 0
Other, net | (3,494) | (5,712) | 3,197
Total other income (loss), net | (55,095) | (30,207) | (39,803)
Income before income taxes | 1,264,798 | 1,101,664 | 960,483
Income taxes (note 12) | 243,847 | 204,108 | 181,046
Net income | $ 1,020,951 | $ 897,556 | $ 779,437
Basic earnings per share (note 11) (in dollars per share) | $ 6.94 | $ 6.12 | $ 5.34
Diluted earnings per share (note 11) (in dollars per share) | 6.92 | 6.09 | 5.30
Dividend declared per share (in dollars per share) | $ 1.92 | $ 1.76 | $ 1.68
Basic shares outstanding (000's) (in shares) | 147,021 | 146,765 | 146,066
Diluted shares outstanding (000's) (in shares) | 147,550 | 147,455 | 147,043
Sleep and Respiratory Care |  |  |
Net revenue | $ 4,101,172 | $ 3,725,017 | $ 3,177,298
Cost of sales (exclusive of amortization shown separately below) | 1,806,845 | 1,662,957 | 1,365,421
Amortization of acquired intangible assets | 5,515 | 5,340 | 4,105
Software as a Service |  |  |
Net revenue | 584,125 | 497,976 | 400,829
Cost of sales (exclusive of amortization shown separately below) | 190,186 | 173,978 | 148,745
Amortization of acquired intangible assets | $ 27,448 | $ 25,056 | $ 35,545

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