v3.19.2

Revenue Recognition (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2019
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue |
| Fiscal Year Ended June 30, 2019
| (in millions)
Investor Communication Solutions |
Equity proxy | $ | 437.0 |
Mutual fund and exchange traded funds (“ETF”) interims | 265.9 |
Customer communications and fulfillment | 736.4 |
Other ICS | 366.5 |
Total ICS Recurring fee revenues | 1,805.8 |
Equity and other | 107.3 |
Mutual funds | 137.2 |
Total ICS Event-driven fee revenues | 244.5 |
Distribution revenues | 1,460.8 |
Total ICS Revenues | $ | 3,511.1 |
Global Technology and Operations |
Equities and other | $ | 788.9 |
Fixed income | 164.6 |
Total GTO Recurring fee revenues | 953.5 |
Foreign currency exchange | (102.4 | )
Total Revenues | $ | 4,362.2 |
Revenues by Type |
Recurring fee revenues | $ | 2,759.3 |
Event-driven fee revenues | 244.5 |
Distribution revenues | 1,460.8 |
Foreign currency exchange | (102.4 | )
Total Revenues | $ | 4,362.2 |
Contract Assets and Liabilities | The following table provides information about contract assets and liabilities:
| June 30, 2019 |  | July 1, 2018
| (in millions)
Contract assets | $ | 47.5 |  |  | $ | 35.5 |
Contract liabilities | $ | 251.6 |  |  | $ | 162.8 |
Summary of the Impact of ASU No. 2014-09 on Financial Statements | The following tables summarize the impact of ASU No. 2014-09 adoption on the Company’s Consolidated Statement of Earnings for the fiscal year ended June 30, 2019.
| Fiscal Year Ended June 30, 2019
| As reported |  | Effects of ASU 2014-09 |  | Without Effects of ASU No. 2014-09
| (in millions)
Consolidated Statement of Earnings |  |  |  |  |
Revenues (1) | $ | 4,362.2 |  |  | $ | 101.1 |  |  | $ | 4,463.3 |
Cost of revenues | 3,131.9 |  |  | 15.8 |  |  | 3,147.8 |
Selling, general and administrative expenses | 577.5 |  |  | 8.0 |  |  | 585.5 |
Operating income | 652.7 |  |  | 77.4 |  |  | 730.0 |
Earnings before income taxes | 607.3 |  |  | 77.4 |  |  | 684.6 |
Provision for income taxes | 125.2 |  |  | 19.1 |  |  | 144.3 |
Net earnings | $ | 482.1 |  |  | $ | 58.2 |  |  | $ | 540.3 |
Basic earnings per share | $ | 4.16 |  |  | $ | 0.50 |  |  | $ | 4.66 |
Diluted earnings per share | $ | 4.06 |  |  | $ | 0.49 |  |  | $ | 4.55 |
(1) The effects of ASU No. 2014-09 on revenues includes contract modifications. The following table summarizes the impact of ASU No. 2014-09 adoption on the Company’s Consolidated Balance Sheet as of June 30, 2019.
| As reported |  | Effects of ASU 2014-09 |  | Without Effects of ASU No. 2014-09
| (in millions)
Consolidated Balance Sheet |  |  |  |  |
Assets: |  |  |  |  |
Current assets | $ | 1,042.3 |  |  | $ | 1.2 |  |  | $ | 1,043.5 |
Total assets | $ | 3,880.7 |  |  | $ | (127.8 | ) |  | $ | 3,752.9 |
Liabilities: |  |  |  |  |
Current liabilities | $ | 802.6 |  |  | $ | (3.4 | ) |  | $ | 799.2 |
Total liabilities | $ | 2,753.2 |  |  | $ | (82.6 | ) |  | $ | 2,670.6 |
Stockholders’ equity: |  |  |  |  |
Total stockholders’ equity | $ | 1,127.5 |  |  | $ | (45.2 | ) |  | $ | 1,082.3 |

X
- Definition Tabular disclosure of contract balances and changes in contract balances. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130551-203045 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e765-108305 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01.(b)(6)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e725-108305 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794 + Details
Name: | us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration