XML 45 R32.htm IDEA: XBRL DOCUMENT
v3.23.2

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Before Provision for Income Taxes | The components of income before provision for income taxes were as follows (in thousands):
|  | Year ended June 30,
|  | 2023 |  | 2022 |  | 2021
Domestic |  | $ | 102,930 |  |  | $ | 102,145 |  |  | $ | 225,224 |
Foreign |  | 383,412 |  |  | 342,304 |  |  | 502,430 |
|  | $ | 486,342 |  |  | $ | 444,449 |  |  | $ | 727,654 |
Schedule of Components of Provision for Income Taxes | The provision for income taxes consisted of the following (in thousands):
|  | Year ended June 30,
|  | 2023 |  | 2022 |  | 2021
Current |  |  |  |  |  |
Federal |  | $ | 78,774 |  |  | $ | 55,259 |  |  | $ | 93,639 |
State |  | 9,443 |  |  | 6,814 |  |  | 14,390 |
Foreign |  | 7,341 |  |  | 5,561 |  |  | 3,715 |
Current tax expense |  | 95,558 |  |  | 67,634 |  |  | 111,744 |
Deferred |  |  |  |  |  |
Federal |  | (15,338) |  |  | (882) |  |  | (1,465) |
State |  | (1,745) |  |  | (960) |  |  | 791 |
Foreign |  | 226 |  |  | — |  |  | — |
Deferred tax benefit (expense) |  | (16,857) |  |  | (1,842) |  |  | (674) |
Provision for income taxes |  | $ | 78,701 |  |  | $ | 65,792 |  |  | $ | 111,070 |
Schedule of Effective to Statutory Income Tax Rate Reconciliation | The reconciliation of federal statutory income tax to the Company’s provision for income taxes is as follows:
|  | Year ended June 30,
|  | 2023 |  | 2022 |  | 2021
Statutory rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Effect of foreign operations |  | (6.8) |  |  | (8.0) |  |  | (7.6) |
State tax expense |  | 1.3 |  |  | 1.0 |  |  | 1.7 |
Share-based compensation |  | 0.1 |  |  | (0.1) |  |  | — |
Subpart F income |  | 1.1 |  |  | 1.0 |  |  | 0.6 |
Other permanent items |  | (0.5) |  |  | (0.1) |  |  | (0.4) |
Effective tax rate |  | 16.2 | % |  | 14.8 | % |  | 15.3 | %
Schedule of Significant Components of Deferred Tax Assets and Liabilities | Significant components of the Company's deferred tax assets and liabilities as of June 30, 2023 are as follows (in thousands):
|  | June 30,
|  | 2023 |  | 2022
Deferred tax assets |  |  |  |
Reserves and allowances |  | $ | 11,041 |  |  | $ | 9,396 |
Share-based compensation |  | 380 |  |  | 329 |
Accrued expenses |  | 703 |  |  | 738 |
Capitalized research expenditures |  | 15,617 |  |  | — |
State tax |  | 1,504 |  |  | 1,260 |
Investments |  | 1,296 |  |  | 1,086 |
Lease liabilities |  | 5,581 |  |  | 5,873 |
Other |  | 11,945 |  |  | 3,755 |
Total deferred tax assets |  | 48,067 |  |  | 22,437 |
Deferred tax liabilities |  |  |  |
Property and equipment |  | (6,558) |  |  | (4,898) |
Right of use assets |  | (5,304) |  |  | (5,647) |
Other liabilities |  | (11,434) |  |  | (4,188) |
Total deferred tax liabilities |  | (23,296) |  |  | (14,733) |
Valuation allowance |  | (1,296) |  |  | (1,086) |
Net deferred tax assets |  | $ | 23,475 |  |  | $ | 6,618 |
Schedule of Reconciliation of Beginning and Ending Balances of Unrecognized Tax Benefits | A reconciliation of the beginning and ending balances of the unrecognized tax benefits during the years ended June 30, 2023, 2022, and 2021 consists of the following (in thousands):
|  | Year ended June 30,
|  | 2023 |  | 2022 |  | 2021
Unrecognized benefit—beginning of year |  | $ | 32,685 |  |  | $ | 32,092 |  |  | $ | 31,350 |
Gross increases—current year tax positions |  | 5,361 |  |  | 4,629 |  |  | 6,855 |
Gross decreases—prior year tax positions due to statute lapse |  | (5,664) |  |  | (4,036) |  |  | (6,113) |
Unrecognized benefit—end of year |  | $ | 32,382 |  |  | $ | 32,685 |  |  | $ | 32,092 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration