XML 78 R64.htm IDEA: XBRL DOCUMENT
v3.20.2

Debt (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended
--- | --- | ---
Apr. 30, 2020 | Jul. 31, 2019 | Jun. 30, 2020
Debt |  |  |
Amount drawn on revolving line of credit |  |  | $ 100,000
Five-year revolving credit agreement | Senior secured debt |  |  |
Debt |  |  |
Term of credit agreement |  | 5 years |
Maximum borrowing capacity |  | $ 250,000 |
Maximum borrowing capacity, subject to additional lender commitments and satisfaction of other requirements |  | $ 375,000 |
Amount drawn on revolving line of credit | $ 100,000 |  |
Average interest rate |  | 1.38% |
Five-year revolving credit agreement | Senior secured debt | Minimum |  |  |
Debt |  |  |
Interest coverage ratio |  | 3.00 |
Five-year revolving credit agreement | Senior secured debt | Maximum |  |  |
Debt |  |  |
Net total leverage ratio |  | 4.00 |
Senior secured leverage ratio |  | 3.50 |
Five-year revolving credit agreement | Senior secured debt | LIBOR | Minimum |  |  |
Debt |  |  |
Margin on base rate |  | 0.875% |
Five-year revolving credit agreement | Senior secured debt | LIBOR | Maximum |  |  |
Debt |  |  |
Margin on base rate |  | 1.375% |
Five-year revolving credit agreement | Senior secured debt | Adjusted base rate | Minimum |  |  |
Debt |  |  |
Margin on base rate |  | 0.00% |
Five-year revolving credit agreement | Senior secured debt | Adjusted base rate | Maximum |  |  |
Debt |  |  |
Margin on base rate |  | 0.375% |

X
- Definition Represents the ratio of consolidated adjusted earnings before interest, taxes, depreciation and amortization to interest expense, which is necessary to be maintained under the terms of the senior credit facilities' covenants. + References No definition available. + Details
Name: | pcty_CreditFacilityCovenantConsolidatedInterestCoverageRatio
Namespace Prefix: | pcty_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the ratio of consolidated total debt to consolidated adjusted earnings before, interest, taxes, depreciation and amortization allowed under the terms of the senior credit facilities' covenants. + References No definition available. + Details
Name: | pcty_CreditFacilityCovenantConsolidatedLeverageRatio
Namespace Prefix: | pcty_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the ratio of Senior debt to adjusted earnings before, interest, taxes, depreciation and amortization allowed under the terms of the senior credit facilities' covenants. + References No definition available. + Details
Name: | pcty_CreditFacilityCovenantSeniorSecuredLeverageRatio
Namespace Prefix: | pcty_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition The aggregate borrowing capacity under the credit facility, consisting of the maximum borrowing capacity plus the contingent increase, if any one or more of the existing banks or new banks agree to provide such increased commitment amount. + References No definition available. + Details
Name: | pcty_LineOfCreditFacilityContingentIncreaseAggregateMaximumBorrowingCapacity
Namespace Prefix: | pcty_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Weighted average interest rate of debt outstanding. + References No definition available. + Details
Name: | us-gaap_DebtWeightedAverageInterestRate
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Period between issuance and maturity of long-term debt, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_LongTermDebtTerm
Namespace Prefix: | us-gaap_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3255-108585 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ProceedsFromLinesOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Details
Name: | us-gaap_CreditFacilityAxis=us-gaap_RevolvingCreditFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_SecuredDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_BaseRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |