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INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Significant components of consolidated income tax expense (benefit) are as follows (in thousands):

			Year Ended June 30,
			2022						2021						2020
Current:
Federal			$	864					$	22,356					$	11,394
State			926						7,393						12,545
Total current tax expense			1,790						29,749						23,939
Deferred:
Federal			49,335						22,165						35,768
State			7,457						(105,857)						32,854
Total deferred tax expense (benefit)			56,792						(83,692)						68,622
Total income tax expense (benefit)			$	58,582					$	(53,943)					$	92,561

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between the Company’s income tax expense (benefit) and taxes computed at the federal statutory tax rate of 21.0% for fiscal years ended June 30, 2022, 2021 and 2020, is as follows (in thousands):

			Year Ended June 30,
			2022						2021						2020
Tax at federal statutory rate			$	68,649					$	52,635					$	80,814
Partnership income not subject to tax			(701)						(4,375)						(40,154)
State taxes (net of federal benefit)			14,138						9,880						7,072
Remeasurement adjustments and other permanent items			8,118						7,124						(1,570)
Change in valuation allowance			(31,361)						(25,328)						12,472
Deferred tax remeasurement			(242)						(113,213)						34,447
Uncertain tax position			842						1,293						7,472
Change in tax status			—						19,514						—
Other			(861)						(1,473)						(7,992)
Total income tax expense (benefit)			$	58,582					$	(53,943)					$	92,561
Effective tax rate			17.9		%				(21.5)		%				24.1		%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of June 30, 2022 and 2021 are presented below (in thousands):

			June 30,
			2022						2021
Deferred tax asset
Purchased intangible assets and depreciation			$	631,415					$	689,810
Stock compensation			15,125						16,943
Accrued expenses			49,161						41,474
Net operating losses and credits			50,742						66,782
Other			5,787						22,513
Total deferred tax assets			752,230						837,522
Valuation allowance for deferred tax assets			(4,552)						(35,913)
Net deferred tax assets			747,678						801,609
Deferred tax liability
Other liabilities			(22,646)						(19,785)
Net deferred tax asset			$	725,032					$	781,824

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending gross amounts of the Company’s uncertain tax position reserves for the years ended June 30, 2022, 2021 and 2020 are as follows (in thousands):

			Year Ended June 30,
			2022						2021						2020
Beginning of year balance			$	16,704					$	15,596					$	8,266
Increases in prior period tax positions			120						111						7,734
Decreases in prior period tax positions			(63)						—						(48)
Reductions on settlements and lapse in statute of limitations			(21)						(27)						(2,276)
Increases in current period tax positions			384						1,024						1,920
End of year balance			$	17,124					$	16,704					$	15,596

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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