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Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2024
Income Tax Disclosure [Abstract] |
Schedule Of Components Of Income From Continuing Operations | The components of income from continuing operations upon which domestic and foreign income taxes have been provided are as follows:
(in 000s)
Year ended June 30, |  | 2024 |  | 2023 |  | 2022
Domestic |  | $ | 489,912 |  |  | $ | 447,900 |  |  | $ | 478,166 |
Foreign |  | 272,410 |  |  | 263,312 |  |  | 180,903 |
|  | $ | 762,322 |  |  | $ | 711,212 |  |  | $ | 659,069 |
Schedule Of Effective Income Tax Rate Reconciliation | The reconciliation between the statutory U.S. federal tax rate and our effective tax rate from continuing operations is as follows:
Year ended June 30, |  | 2024 |  | 2023 |  | 2022
U.S. statutory tax rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Change in tax rate resulting from: |  |  |  |  |  |
State income taxes, net of federal income tax benefit |  | 1.4 | % |  | 1.6 | % |  | 2.1 | %
Earnings taxed in foreign jurisdictions |  | (1.9) | % |  | (2.9) | % |  | (2.4) | %
Permanent differences |  | 0.7 | % |  | 0.6 | % |  | 0.9 | %
Uncertain tax positions |  | (0.4) | % |  | (0.9) | % |  | (6.3) | %
U.S. tax on income from foreign affiliates |  | 4.1 | % |  | 3.1 | % |  | 2.0 | %
Federal income tax credits |  | (2.4) | % |  | (1.3) | % |  | (2.6) | %
Foreign investment recapture |  | 2.6 | % |  | — | % |  | 0.6 | %
Change in valuation allowance - domestic |  | — | % |  | (0.4) | % |  | 0.2 | %
Change in valuation allowance - foreign |  | (2.8) | % |  | 0.7 | % |  | (0.3) | %
Other |  | (0.7) | % |  | (0.5) | % |  | (0.3) | %
Effective tax rate |  | 21.6 | % |  | 21.0 | % |  | 14.9 | %
Schedule Of Components Of Income Tax Expense (Benefit) For Continuing Operations | The components of income tax expense for continuing operations are as follows:
(in 000s) |  |
Year ended June 30, |  | 2024 |  | 2023 |  | 2022 |  |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | 191,664 |  |  | $ | 97,430 |  |  | $ | 121,319 |  |  |
State |  | 9,695 |  |  | 19,023 |  |  | 25,108 |  |  |
Foreign |  | 18,240 |  |  | 18,214 |  |  | 8,956 |  |  |
|  | 219,599 |  |  | 134,667 |  |  | 155,383 |  |  |
Deferred: |  |  |  |  |  |  |  |
Federal |  | (59,441) |  |  | 23,367 |  |  | (58,487) |  |  |
State |  | (11,749) |  |  | 1,860 |  |  | (2,016) |  |  |
Foreign |  | 15,950 |  |  | (10,482) |  |  | 3,543 |  |  |
|  | (55,240) |  |  | 14,745 |  |  | (56,960) |  |  |
Total income taxes for continuing operations |  | $ | 164,359 |  |  | $ | 149,412 |  |  | $ | 98,423 |  |  |
Schedule Of Deferred Tax Assets And Liabilities | The significant components of deferred tax assets and liabilities are reflected in the following table:
(in 000s)
As of |  | June 30, 2024 |  | June 30, 2023
Deferred tax assets: |  |  |  |
Accrued expenses |  | $ | 3,796 |  |  | $ | 2,540 |
Deferred revenue |  | 50,944 |  |  | 17,702 |
Allowance for credit losses |  | 30,581 |  |  | 22,715 |
Deferred and stock-based compensation |  | 8,060 |  |  | 6,629 |
Net operating loss carry-forward |  | 63,398 |  |  | 116,956 |
Lease liabilities |  | 117,483 |  |  | 111,721 |
Federal tax benefits related to state unrecognized tax benefits |  | 26,841 |  |  | 22,037 |
Property and equipment |  | 2,260 |  |  | — |
Internally developed software |  | 15,063 |  |  | — |
Intangibles - intellectual property |  | 71,367 |  |  | 80,879 |
Valuation allowance |  | (16,569) |  |  | (57,566) |
Total deferred tax assets |  | 373,224 |  |  | 323,613 |
Deferred tax liabilities: |  |  |  |
Prepaid expenses and other |  | (3,001) |  |  | (5,954) |
Lease right of use assets |  | (115,128) |  |  | (109,814) |
Property and equipment |  | — |  |  | (1,421) |
Income tax method change |  | — |  |  | (1,018) |
Intangibles |  | (51,398) |  |  | (56,651) |
Total deferred tax liabilities |  | (169,527) |  |  | (174,858) |
Net deferred tax assets |  | $ | 203,697 |  |  | $ | 148,755 |
A reconciliation of the deferred tax assets and liabilities and the corresponding amounts reported in the consolidated balance sheets is as follows:
(in 000s)
As of |  | June 30, 2024 |  | June 30, 2023
Deferred income tax assets |  | $ | 203,697 |  |  | $ | 152,699 |
Deferred tax liabilities |  | — |  |  | (3,944) |
Net deferred tax asset |  | $ | 203,697 |  |  | $ | 148,755 |
Summary of Valuation Allowance | Changes in our valuation allowance for fiscal years 2024, 2023 and 2022 are as follows:
(in 000s)
Year ended June 30, |  | 2024 |  | 2023 |  | 2022
Balance, beginning of the year |  | $ | 57,566 |  |  | $ | 55,172 |  |  | $ | 55,784 |
Additions charged to costs and expenses |  | 4,584 |  |  | 6,438 |  |  | 4,752 |
Deductions |  | (45,581) |  |  | (4,044) |  |  | (5,364) |
Balance, end of the year |  | $ | 16,569 |  |  | $ | 57,566 |  |  | $ | 55,172 |
Schedule Of Reconciliation Of Unrecognized Tax Benefits | Changes in unrecognized tax benefits for fiscal years 2024, 2023 and 2022 are as follows:
(in 000s)
Year ended June 30, |  | 2024 |  | 2023 |  | 2022
Balance, beginning of the year |  | $ | 240,063 |  |  | $ | 232,004 |  |  | $ | 264,323 |
Additions based on tax positions related to prior years |  | 1,232 |  |  | 1,252 |  |  | 2,499 |
Reductions based on tax positions related to prior years |  | (4,604) |  |  | — |  |  | (5,332) |
Additions based on tax positions related to the current year |  | 37,063 |  |  | 33,330 |  |  | 32,948 |
Reductions related to settlements with tax authorities |  | (4,472) |  |  | (661) |  |  | (9,800) |
Expiration of statute of limitations |  | (17,495) |  |  | (25,862) |  |  | (52,634) |
Balance, end of the year |  | $ | 251,787 |  |  | $ | 240,063 |  |  | $ | 232,004 |

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