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Sales of Receivables (Tables) | 3 Months Ended
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Sep. 30, 2024
Transfers and Servicing of Financial Assets [Abstract] |
Schedule of MARPA Activity | MARPA activity consisted of the following (in thousands):
|  | As of and for the Three Months Ended September 30,
|  | 2024 |  | 2023
Beginning balance: |  | $ | 250,000 |  |  | $ | 200,000 |
Sales of receivables |  | 959,019 |  |  | 695,260 |
Cash collections |  | (985,229) |  |  | (718,427) |
Outstanding balance sold to Purchaser: (1) |  | 223,790 |  |  | 176,833 |
Cash collected, not remitted to Purchaser (2) |  | (96,953) |  |  | (80,542) |
Remaining sold receivables |  | $ | 126,837 |  |  | $ | 96,291 |
__________________________________________________ (1)For the three months ended September 30, 2024 and 2023, the Company recorded a net cash outflow of $26.2 million and a net cash outflow of $23.2 million in its cash flows from operating activities, respectively, from sold receivables. MARPA cash flows are calculated as the change in the outstanding balance during the fiscal year. (2)Includes the cash collected on behalf of but not yet remitted to Purchaser as of September 30, 2024 and 2023. This balance is included in other accrued expenses and current liabilities as of the balance sheet date.

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- Definition Tabular disclosure of derecognized financial assets from transactions which comprise an initial transfer and an agreement entered into in contemplation of the initial transfer resulting in retention of substantially all of the exposure to the economic return throughout the term of the transaction. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 4D -SubTopic 20 -Topic 860 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481326/860-20-50-4D + Details
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- References No definition available. + Details
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