Income Taxes (Tables)

12 Months Ended

Jun. 30, 2022

Schedule Of Components Of Income From Continuing Operations

The components of income (loss) from continuing operations upon which domestic and foreign income taxes have been provided are as follows:


(in 000s)
	Year Ended June 30, 2022		Two Months Ended June 30, 2021 (Transition Period)		Year Ended April 30, 2021		Year Ended April 30, 2020

Domestic	$	478,166	$	145,714	$	489,499	$	56,121
Foreign	180,903		(24,719)		179,237		(59,495)
	$	659,069	$	120,995	$	668,736	$	(3,374)

Schedule Of Effective Income Tax Rate Reconciliation

The reconciliation between the income tax provision and the amount computed by applying the statutory U.S. federal tax rate to income taxes for continuing operations is as follows:


	Year Ended June 30, 2022		Two Months Ended June 30, 2021 (Transition Period)		Year Ended April 30, 2021		Year Ended April 30, 2020

U.S. statutory tax rate	21.0	%	21.0	%	21.0	%	21.0	%
Change in tax rate resulting from:
State income taxes, net of federal income tax benefit	2.1	%	2.9	%	1.8	%	20.4	%
Earnings taxed in foreign jurisdictions	(2.4)	%	0.8	%	(1.2)	%	619.4	%
Permanent differences	0.9	%	0.4	%	0.5	%	(257.5)	%
Impairment of goodwill	—	%	—	%	—	%	(832.5)	%
Uncertain tax positions	(6.3)	%	2.9	%	7.5	%	508.3	%
U.S. tax on income from foreign affiliates	2.0	%	(1.6)	%	1.0	%	(247.4)	%
Remeasurement of deferred tax assets and liabilities	(0.2)	%	(1.0)	%	(0.1)	%	117.6	%
Changes in prior year estimates	0.1	%	—	%	(0.5)	%	55.5	%
Federal income tax credits	(2.6)	%	(0.5)	%	(0.9)	%	216.3	%

Tax impacts of stock-based compensation vesting	—	%	—	%	—	%	44.8	%

Tax benefit due to NOL carryback under CARES Act	(0.1)	%	—	%	(17.5)	%	—	%
Tax deductible write-down of foreign investment	0.6	%	(0.2)	%	(1.7)	%	—	%

Change in valuation allowance - domestic	0.2	%	—	%	(0.2)	%	37.1	%
Change in valuation allowance - foreign	(0.3)	%	0.3	%	1.7	%	20.6	%

Other	(0.1)	%	(0.3)	%	0.3	%	(41.2)	%
Effective tax rate	14.9	%	24.7	%	11.7	%	282.4	%

Schedule Of Components Of Income Tax Expense (Benefit) For Continuing Operations

The components of income tax expense (benefit) for continuing operations are as follows:


(in 000s)
	Year Ended June 30, 2022		Two Months Ended June 30, 2021 (Transition Period)		Year Ended April 30, 2021		Year Ended April 30, 2020

Current:
Federal	$	121,319	$	11,563	$	58,834	$	18,048
State	25,108		743		12,000		(16,614)
Foreign	8,956		(1,481)		26,032		1,991
	155,383		10,825		96,866		3,425
Deferred:
Federal	(58,487)		16,950		2,493		1,703
State	(2,016)		4,809		(11,368)		(1,516)
Foreign	3,543		(2,708)		(9,467)		(13,142)
	(56,960)		19,051		(18,342)		(12,955)
Total income taxes (benefit) for continuing operations	$	98,423	$	29,876	$	78,524	$	(9,530)

Schedule Of Deferred Tax Assets And Liabilities

The significant components of deferred tax assets and liabilities are reflected in the following table:


(in 000s)
As of	June 30, 2022		June 30, 2021		April 30, 2021
Deferred tax assets:
Accrued expenses	$	1,917	$	1,735	$	3,576
Deferred revenue	35,519		7,644		10,445
Allowance for credit losses and related reserves	30,565		34,411		33,027


Deferred and stock-based compensation	6,964		7,111		24,712
Net operating loss carry-forward	105,710		108,446		104,013
Lease liabilities	109,397		114,700		112,249
Federal tax benefits related to state unrecognized tax benefits	19,115		16,177		16,682
Property and equipment	9,846		35,712		40,138
Intangibles - intellectual property	77,123		85,374		86,711
Valuation allowance	(55,172)		(55,784)		(55,401)
Total deferred tax assets	340,984		355,526		376,152

Deferred tax liabilities:
Prepaid expenses and other	(4,723)		(9,033)		(11,927)
Lease right of use assets	(107,445)		(111,762)		(109,726)

Income tax method change	(5,892)		(56,249)		(56,257)
Intangibles	(59,424)		(71,941)		(72,650)
Total deferred tax liabilities	(177,484)		(248,985)		(250,560)

Net deferred tax assets	$	163,500	$	106,541	$	125,592

A reconciliation of the deferred tax assets and liabilities and the corresponding amounts reported in the consolidated balance sheets is as follows:


(in 000s)
As of	June 30, 2022		June 30, 2021		April 30, 2021
Deferred income tax assets	$	163,500	$	142,981	$	141,836
Deferred tax liabilities	—		(36,440)		(16,244)
Net deferred tax asset	$	163,500	$	106,541	$	125,592

Summary of Valuation Allowance

Changes in our valuation allowance for fiscal years ended June 30, 2022, April 30, 2021 and April 30, 2020 and for the Transition Period are as follows:


(in 000s)
	Year Ended June 30, 2022		Two Months Ended June 30, 2021 (Transition Period)		Year Ended April 30, 2021		Year Ended April 30, 2020

Balance, beginning of the period	$	55,784	$	55,401	$	45,124	$	47,070

Additions charged to costs and expenses	4,752		389		13,492		2,151

Deductions	(5,364)		(6)		(3,215)		(4,097)
Balance, end of the period	$	55,172	$	55,784	$	55,401	$	45,124

Schedule Of Reconciliation Of Unrecognized Tax Benefits

Changes in unrecognized tax benefits for fiscal years ended June 30, 2022, April 30, 2021 and April 30, 2020 and for the Transition Period are as follows:


(in 000s)
	Year Ended June 30, 2022		Two Months Ended June 30, 2021 (Transition Period)		Year Ended April 30, 2021		Year Ended April 30, 2020

Balance, beginning of the period	$	264,323	$	264,810	$	168,062	$	185,144
Additions based on tax positions related to prior years	2,499		485		121,364		1,501
Reductions based on tax positions related to prior years	(5,332)		(1,209)		(34,470)		(10,128)
Additions based on tax positions related to the current year	32,948		679		43,800		12,093
Reductions related to settlements with tax authorities	(9,800)		(442)		(29,362)		(980)
Expiration of statute of limitations	(52,634)		—		(4,584)		(19,568)


Balance, end of the period	$	232,004	$	264,323	$	264,810	$	168,062