XML 60 R44.htm IDEA: XBRL DOCUMENT
v3.25.2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2025
Income Tax Disclosure [Abstract] |
Schedule of Income Loss Before Income Tax Expense | The domestic and foreign components of income before provision for income taxes are as follows (dollars in thousands):
| Year Ended June 30,
| 2025 |  | 2024 |  | 2023
Domestic | $ | 534,394 |  |  | $ | 480,145 |  |  | $ | 447,975 |
Foreign | 70,947 |  |  | 64,504 |  |  | 35,664 |
Income before income taxes | $ | 605,341 |  |  | $ | 544,649 |  |  | $ | 483,639 |
Schedule of Components of Income Tax Expense | The components of income tax expense are as follows (dollars in thousands):
| Year Ended June 30,
| 2025 |  | 2024 |  | 2023
Current: |  |  |  |  |
Federal | $ | 82,647 |  |  | $ | 130,621 |  |  | $ | 184,040 |
State and local | 32,174 |  |  | 26,268 |  |  | 49,824 |
Foreign | 17,750 |  |  | 17,599 |  |  | 11,053 |
Total current | 132,571 |  |  | 174,488 |  |  | 244,917 |
Deferred: |  |  |  |  |
Federal | (18,829) |  |  | (42,322) |  |  | (109,894) |
State and local | (6,167) |  |  | (6,827) |  |  | (36,717) |
Foreign | (2,064) |  |  | (614) |  |  | 598 |
Total deferred | (27,060) |  |  | (49,763) |  |  | (146,013) |
Total income tax expense | $ | 105,511 |  |  | $ | 124,725 |  |  | $ | 98,904 |
Schedule of Effective Income Tax Rate Reconciliation | Income tax expense differs from the amounts computed by applying the U.S. federal statutory income tax rate of 21.0% as a result of the following (dollars in thousands):
| Year Ended June 30,
| 2025 |  | 2024 |  | 2023
Expected tax expense computed at federal statutory rate | $ | 127,122 |  |  | $ | 114,376 |  |  | $ | 101,564 |
State and local taxes, net of federal benefit | 20,362 |  |  | 16,508 |  |  | 15,900 |
R&D tax credit, net | (14,073) |  |  | (12,604) |  |  | (14,205) |
Stock-based compensation | (6,221) |  |  | (2,385) |  |  | (930) |
Nonincludible and nondeductible items, net | 3,426 |  |  | 4,368 |  |  | 1,105 |
Remeasurement of deferred taxes | — |  |  | (1,150) |  |  | (5,546) |
Changes in unrecognized tax benefits | (23,161) |  |  | — |  |  | — |
Other | (1,944) |  |  | 5,612 |  |  | 1,016 |
Total income tax expense | $ | 105,511 |  |  | $ | 124,725 |  |  | $ | 98,904 |
Effective income tax rate | 17.4 | % |  | 22.9 | % |  | 20.4 | %
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to deferred taxes are presented below (dollars in thousands):
| June 30,
| 2025 |  | 2024
Deferred tax assets: |  |  |
Operating lease liabilities | $ | 110,068 |  |  | $ | 97,911 |
Reserves and accruals | 18,782 |  |  | 22,172 |
Capitalized research and development | 211,035 |  |  | 170,086 |
Credits and net operating loss carryovers | 11,191 |  |  | 9,407 |
Deferred compensation and post-retirement obligations | 34,650 |  |  | 34,315 |
Stock-based compensation | 13,076 |  |  | 12,362 |
Valuation allowance | (4,781) |  |  | (2,887) |
Total deferred tax assets | $ | 394,021 |  |  | $ | 343,366 |
Deferred tax liabilities: |  |  |
Goodwill and other intangible assets | $ | (384,600) |  |  | $ | (357,150) |
Property, plant, and equipment | (26,091) |  |  | (27,578) |
Operating lease right-of-use assets | (82,747) |  |  | (74,769) |
Deferred revenue | (21,967) |  |  | (23,591) |
Prepaid expenses | (11,209) |  |  | (12,084) |
Interest rate swaps | (2,063) |  |  | (8,322) |
Other | (7,062) |  |  | (9,680) |
Total deferred tax liabilities | $ | (535,739) |  |  | $ | (513,174) |
Net deferred tax liability | $ | (141,718) |  |  | $ | (169,808) |
Schedule of Unrecognized Tax Benefits | Changes in the Company’s liability for unrecognized tax benefits is shown in the table below (dollars in thousands):
| Year Ended June 30,
| 2025 |  | 2024 |  | 2023
Beginning of year | $ | 73,044 |  |  | $ | 153,860 |  |  | $ | 42,810 |
Additions based on prior year tax positions | — |  |  | 3,592 |  |  | 3,829 |
Additions based on current year tax positions | 6,974 |  |  | 11,703 |  |  | 107,221 |
Reductions based on prior year tax positions | (15,183) |  |  | (96,111) |  |  | — |
Settlement with taxing authorities | (34,150) |  |  | — |  |  | — |
Lapse of statute of limitations | (522) |  |  | — |  |  | — |
End of year | $ | 30,163 |  |  | $ | 73,044 |  |  | $ | 153,860 |
Unrecognized tax benefits that, if recognized, would affect the effective tax rate | $ | 30,163 |  |  | $ | 73,044 |  |  | $ | 56,944 |

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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -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 S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1 Reference 2: 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/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -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