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ACQUISITIONS (Tables)
 12 Months Ended
Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The recognized amounts of identifiable assets acquired and liabilities assumed, based on their fair values as of January 31, 2023, are set forth below:
Cash and cash equivalents$541,582 
Accounts receivable, net of allowance for credit losses (1)
407,379 
Other current assets290,324 
Non-current tangible assets444,618 
Goodwill (2)
3,417,635 
Intangible customer assets2,162,400 
Intangible technology assets1,392,300 
Accounts payable and accrued liabilities(505,737)
Deferred revenues(1,107,021)
Other liabilities(796,498)
Net Assets Acquired$6,246,982 
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(1)The gross amount receivable was $418.2 million of which $10.8 million of this receivable was expected to be uncollectible.
(2)The goodwill of $3.4 billion is primarily attributable to the synergies expected to arise after the acquisition. There is $67.3 million of goodwill that is deductible for tax purposes.
The recognized amounts of identifiable assets acquired, and liabilities assumed, based on their preliminary fair values as of December 23, 2021, are set forth below:
Current assets (inclusive of cash acquired of $38.3 million)
$71,527 
Non-current tangible assets13,450 
Intangible customer assets212,400 
Intangible technology assets92,650 
Liabilities assumed(81,476)
Total identifiable net assets308,551 
Goodwill585,910 
Net assets acquired$894,461 
Schedule of Micro Focus’ Revenues and Net Loss
The amount of Micro Focus’ revenues and net loss included in our Consolidated Statements of Income for the year ended June 30, 2023 is set forth below:
February 1, 2023 – June 30, 2023
Revenues$976,537 
Net Loss (1)
$(94,741)
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(1)Net loss for the year ended includes one-time fees of approximately $82.9 million on account of special charges and $202.4 million of amortization charges relating to intangible assets.
Schedule of Unaudited Pro Forma Information
The unaudited pro forma revenues and net income of the combined entity for the year ended June 30, 2023 and 2022, respectively, had the Micro Focus Acquisition been consummated on July 1, 2021, are set forth below:
Year Ended June 30,
Supplemental Unaudited Pro Forma Information20232022
Revenues$5,933,106 $6,248,335 
Net income (loss) (1)
(500,105)206,985 
Net income (loss) attributable to OpenText (1)
(500,292)206,816 
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(1)Included in the pro forma net loss for the year ended June 30, 2023, is a $448.2 million goodwill impairment recorded by Micro Focus in its pre-acquisition historical results as a result of the Company’s offer to acquire Micro Focus at a price of 532 pence per share.