REDEEMABLE LIMITED PARTNERS' CAPITAL

12 Months Ended

Jun. 30, 2022

Temporary Equity Disclosure [Abstract]

(11) REDEEMABLE LIMITED PARTNERS' CAPITAL

The fair value of redeemable limited partners’ capital was reclassified from temporary equity in the mezzanine section of the Consolidated Balance Sheets to additional paid in capital as a component of permanent equity at July 31, 2020. As a result, there were no adjustments to the fair value of redeemable limited partners’ capital for the year ended June 30, 2022.

For the years ended June 30, 2021 and 2020, the Company recorded adjustments of $(26.7) million and $468.3 million, respectively, to the fair value of redeemable limited partners’ capital as an adjustment of redeemable limited partners’ capital to redemption amount in the accompanying Consolidated Statements of Income and Comprehensive Income. Subsequent to July 31, 2020, there were no adjustments to the fair value of redeemable limited partners’ capital recorded in the accompanying Consolidated Statements of Income and Comprehensive Income.

The table below provides a summary of the changes in the redeemable limited partners’ capital for the years ended June 30, 2021 and 2020 (in thousands). There were no changes in redeemable limited partners’ capital for the year ended June 30, 2022.


	Receivables From Limited Partners		Redeemable Limited Partners’ Capital		Total Redeemable Limited Partners’ Capital
June 30, 2019	$	(1,204)	$	2,524,474	$	2,523,270
Distributions applied to receivables from limited partners	209		—		209
Redemption of limited partners	—		(1,372)		(1,372)
Net income attributable to non-controlling interest in Premier LP	—		161,816		161,816
Non-controlling interest due to acquisition	—		9,004		9,004
Distributions to limited partners	—		(43,714)		(43,714)
Exchange of Class B common units for Class A common stock by member owners	—		(460,593)		(460,593)
Adjustment of redeemable limited partners' capital to redemption amount	—		(468,311)		(468,311)
June 30, 2020	(995)		1,721,304		1,720,309
Distributions applied to receivables from limited partners	141		—		141
Net income attributable to non-controlling interest in Premier LP	—		11,845		11,845
Distributions to limited partners	—		(1,936)		(1,936)
Exchange of Class B common units for Class A common stock by member owners	—		(2,437)		(2,437)
Adjustment of redeemable limited partners' capital to redemption amount	—		26,685		26,685
Reclassification to permanent equity	854		(1,755,461)		(1,754,607)
June 30, 2021	$	—	$	—	$	—