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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

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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.

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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.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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