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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value | The following table summarizes the valuation of the Company’s remaining assets and liabilities measured at fair value on a recurring basis at December 31, 2024:
| Total |  | Quoted prices in active markets (Level 1) |  | Significant other observable inputs (Level 2) |  | Significant unobservable inputs (Level 3)
| (in thousands)
Assets: |  |  |  |  |  |  |
Deferred compensation plan investments, current and non-current | $ | 31,852 |  |  | $ | 31,852 |  |  | $ | — |  |  | $ | — |
Interest rate swap agreement | 1,658 |  |  | — |  |  | 1,658 |  |  | — |
Foreign currency hedge | 30 |  |  | — |  |  | 30 |  |  | — |
Total assets at fair value | $ | 33,540 |  |  | $ | 31,852 |  |  | $ | 1,688 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Deferred compensation plan investments, current and non-current | $ | 31,793 |  |  | $ | 31,793 |  |  | $ | — |  |  | $ | — |
Forward foreign currency exchange contracts | 24 |  |  | — |  |  | 24 |  |  | — |
Liability for contingent consideration, current and non-current | 18,343 |  |  | — |  |  | — |  |  | 18,343 |
Total liabilities at fair value | $ | 50,160 |  |  | $ | 31,793 |  |  | $ | 24 |  |  | $ | 18,343 |
The following table summarizes the valuation of the Company’s remaining assets and liabilities measured at fair value on a recurring basis at June 30, 2024:
| Total |  | Quoted prices in active markets (Level 1) |  | Significant other observable inputs (Level 2) |  | Significant unobservable inputs (Level 3)
| (in thousands)
Assets: |  |  |  |  |  |  |
Deferred compensation plan investments, current and non-current | $ | 31,014 |  |  | $ | 31,014 |  |  | $ | — |  |  | $ | — |
Foreign currency hedge | 345 |  |  | — |  |  | 345 |  |  | — |
Interest rate swap agreement | 2,698 |  |  | — |  |  | 2,698 |  |  | — |
Total assets at fair value | $ | 34,057 |  |  | $ | 31,014 |  |  | $ | 3,043 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Deferred compensation plan investments, current and non-current | $ | 31,014 |  |  | $ | 31,014 |  |  | $ | — |  |  | $ | — |
Forward foreign currency exchange contracts | 12 |  |  | — |  |  | 12 |  |  | — |
Total liabilities at fair value | $ | 31,026 |  |  | $ | 31,014 |  |  | $ | 12 |  |  | $ | — |
Schedule of Changes in Fair Value of Contingent Considerations | The following tables represent the Company's contingent consideration liabilities at fair value at December 31, 2024:
| Quarter ended December 31, 2024 |  |
| Specialty Technology Solutions |  | Intelisys & Advisory |  | Total |  |  |  |  |  |
| (in thousands)
Fair value at beginning of period | $ | 7,500 |  |  | $ | 9,700 |  |  | $ | 17,200 |  |  |  |  |  |  |
Change in fair value of contingent consideration | 473 |  |  | 670 |  |  | 1,143 |  |  |  |  |  |  |
Fair value at end of period | $ | 7,973 |  |  | $ | 10,370 |  |  | $ | 18,343 |  |  |  |  |  |  |
| Six months ended December 31, 2024 |  |  |  |  |  |
| Specialty Technology Solutions |  | Intelisys & Advisory |  | Total |  |  |  |  |  |
| (in thousands)
Fair value at beginning of period | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |
Issuance of contingent consideration | 7,500 |  |  | 9,700 |  |  | 17,200 |  |  |  |  |  |  |
Change in fair value of contingent consideration | 473 |  |  | 670 |  |  | 1,143 |  |  |  |  |  |  |
Fair value at end of period | $ | 7,973 |  |  | $ | 10,370 |  |  | $ | 18,343 |  |  |  |  |  |  |
Valuation techniques and significant observable inputs used in recurring Level 3 fair value measurements for the Company's contingent consideration liabilities related to Advantix and Resourcive at December 31, 2024 were as follows.
Acquisition |  | Reporting Period |  | Valuation Technique |  | Significant Unobservable Inputs |  | Weighted Average Rates
Advantix |  | December 31, 2024 |  | Discounted cash flow |  | Adjusted EBITDA risk premium |  | 15.7 | %
|  |  |  |  |  | Adjusted EBITDA growth rate |  | 19.8 | %
Resourcive |  | December 31, 2024 |  | Monte Carlo |  | Adjusted EBITDA risk premium |  | 13.7 | %
|  |  |  |  |  | Simulated commission growth percentage |  | 23.0 | %

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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