REVENUE RECOGNITION

9 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

NOTE 2: REVENUE RECOGNITION

The majority of our revenues are from our United States (U.S.) tax services business. The following table disaggregates our U.S. revenues by major service line, with revenues from our international tax services businesses and from Wave included as separate lines:

							(in 000s)
	Three months ended March 31,				Nine months ended March 31,
	2024		2023		2024		2023
Revenues:
U.S. assisted tax preparation	$	1,534,825	$	1,453,049	$	1,622,430	$	1,530,577
U.S. royalties	141,915		150,163		153,070		161,337
U.S. DIY tax preparation	198,570		167,022		215,529		182,330
Refund Transfers	118,937		117,384		120,892		120,210
Peace of Mind® Extended Service Plan	16,813		16,750		59,100		58,840
Tax Identity Shield®	7,536		8,720		16,810		19,237
Emerald Card® and SpruceSM	41,160		44,358		61,493		68,448
Interest and fee income on Emerald Advance®	21,169		33,750		36,702		47,267
International	68,264		69,417		158,398		156,297
Wave	23,580		22,064		70,656		66,651
Other	12,065		10,972		32,637		28,845
Total revenues	$	2,184,834	$	2,093,649	$	2,547,717	$	2,440,039

Changes in the balances of deferred revenue and wages for our Peace of Mind® Extended Service Plan (POM) are as follows:

							(in 000s)
POM	Deferred Revenue				Deferred Wages
Nine months ended March 31,	2024		2023		2024		2023
Balance, beginning of the period	$	167,257	$	173,486	$	21,828	$	19,495
Amounts deferred	72,369		76,231		8,324		8,451
Amounts recognized on previous deferrals	(68,445)		(67,276)		(8,324)		(7,084)
Balance, end of the period	$	171,181	$	182,441	$	21,828	$	20,862

As of March 31, 2024, deferred revenue related to POM was $171.2 million. We expect that $96.4 million will be recognized over the next twelve months, while the remaining balance will be recognized over the following five years.

As of March 31, 2024 and 2023, Tax Identity Shield® (TIS) deferred revenue was $31.6 million and $33.3 million, respectively. Deferred revenue related to TIS was $25.2 million and $25.8 million as of June 30, 2023 and 2022, respectively. All deferred revenue related to TIS will be recognized by April 2025.