XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.24.3

LONG-TERM DEBT | 3 Months Ended
--- | ---
Sep. 30, 2024
Debt Disclosure [Abstract] |
LONG-TERM DEBT | NOTE 6: LONG-TERM DEBT The components of long-term debt are as follows:
|  |  |  | (in 000s)
As of |  | September 30, 2024 |  | June 30, 2024
Senior Notes, 5.250%, due October 2025 |  | $ | 350,000 |  |  | $ | 350,000 |
Senior Notes, 2.500%, due July 2028 |  | 500,000 |  |  | 500,000 |
Senior Notes, 3.875%, due August 2030 |  | 650,000 |  |  | 650,000 |
Debt issuance costs and discounts |  | (8,379) |  |  | (8,905) |
Total long-term debt |  | 1,491,621 |  |  | 1,491,095 |
Less: Current portion |  | — |  |  | — |
Long-term portion |  | $ | 1,491,621 |  |  | $ | 1,491,095 |
Estimated fair value of long-term debt |  | $ | 1,434,000 |  |  | $ | 1,391,000 |
Our unsecured committed line of credit (CLOC) provides for an unsecured senior revolving credit facility in the aggregate principal amount of $1.5 billion, which includes a $175.0 million sublimit for swingline loans and a $50.0 million sublimit for standby letters of credit. We may request increases in the aggregate principal amount of the revolving credit facility of up to $500.0 million, subject to obtaining commitments from lenders and meeting certain other conditions. The CLOC will mature on June 11, 2026, unless extended pursuant to the terms of the CLOC, at which time all outstanding amounts thereunder will be due and payable. Our CLOC includes an annual facility fee, which will vary depending on our then current credit ratings. The CLOC is subject to various conditions, triggers, events or occurrences that could result in earlier termination and contains customary representations, warranties, covenants and events of default, including, without limitation: (1) a covenant requiring the Company to maintain a debt-to-EBITDA ratio, as defined by the CLOC agreement, calculated on a consolidated basis of no greater than (a) 3.50 to 1.00 as of the last day of each fiscal quarter ending on March 31, June 30, and September 30 of each year and (b) 4.50 to 1.00 as of the last day of each fiscal quarter ending on December 31 of each year; (2) a covenant requiring us to maintain an interest coverage ratio (EBITDA-to-interest expense) calculated on a consolidated basis of not less than 2.50 to 1.00 as of the last date of any fiscal quarter; and (3) covenants restricting our ability to incur certain additional debt, incur liens, merge or consolidate with other companies, sell or dispose of assets (including equity interests), liquidate or dissolve, engage in certain transactions with affiliates or enter into certain restrictive agreements. The CLOC includes provisions for an equity cure which could potentially allow us to independently cure certain defaults. Proceeds under the CLOC may be used for working capital needs or for other general corporate purposes. We were in compliance with these requirements as of September 30, 2024. We had no outstanding balance under our CLOC and amounts available to borrow were not limited by the debt-to-EBITDA covenant as of September 30, 2024.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
Name: | us-gaap_LongTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration