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Long-Term Debt | 12 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Long-Term Debt | NOTE 7: LONG-TERM DEBT The components of long-term debt are as follows:
(in 000s) |  |
As of |  | June 30, 2025 |  | June 30, 2024 |  |  |  |
Senior Notes, 5.250%, due October 2025 (1) |  | $ | 350,000 |  |  | $ | 350,000 |  |  |  |  |
Senior Notes, 2.500%, due July 2028 (1) |  | 500,000 |  |  | 500,000 |  |  |  |  |
Senior Notes, 3.875%, due August 2030 (1) |  | 650,000 |  |  | 650,000 |  |  |  |  |
Debt issuance costs and discounts |  | (6,802) |  |  | (8,905) |  |  |  |  |
Total long-term debt |  | 1,493,198 |  |  | 1,491,095 |  |  |  |  |
Less: Current portion |  | (349,893) |  |  | — |  |  |  |  |
Long-term portion |  | $ | 1,143,305 |  |  | $ | 1,491,095 |  |  |  |  |
Estimated fair value of long-term debt |  | $ | 1,437,000 |  |  | $ | 1,391,000 |  |  |  |  |
(1) The Senior Notes are not redeemable by the bondholders prior to maturity, although we have the right to redeem some or all of these notes at any time, at specified redemption prices. The interest rates on our Senior Notes are subject to adjustment based upon our credit ratings. 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. Our CLOC includes an annual facility fee, which will vary depending on our then current credit ratings and was scheduled to expire on June 11, 2026. On July 11, 2025, we entered into a Fifth Amended and Restated Credit and Guarantee Agreement, which amended and restated our existing CLOC, extended the maturity date to July 11, 2030, maintained the aggregate principal amount of $1.5 billion, and revised the interest rate table. Other material terms remain substantially unchanged from our existing CLOC. 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 June 30, 2025. We had no outstanding balance under our CLOC as of June 30, 2025 and amounts available to borrow were not limited by the debt-to-EBITDA covenant as of June 30, 2025. OTHER INFORMATION – The aggregate payments required to retire long-term debt are $350.0 million in fiscal year 2026, $500.0 million in fiscal year 2029 and $650.0 million in fiscal year 2031.

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