INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of Income Loss Before Income Tax Expense

The domestic and foreign components of income before provision for income taxes are as follows (in thousands):

	Year Ended June 30,
	2021		2020		2019
Domestic	$	471,711	$	379,414	$	308,922
Foreign		27,904		22,223		18,987
Income before income taxes	$	499,615	$	401,637	$	327,909

Schedule of Components of Income Tax Expense

The components of income tax expense are as follows (in thousands):

	Year Ended June 30,
	2021			2020			2019
Current:
Federal	$	(94,143	)	$	42,268		$	41,675
State and local		19,958			14,744			17,606
Foreign		7,384			5,271			4,033
Total current		(66,801	)		62,283			63,314
Deferred:
Federal		109,157			12,940			(27	)
State and local		185			5,465			(877	)
Foreign		(369	)		(531	)		(105	)
Total deferred		108,973			17,874			(1,009	)
Total income tax expense	$	42,172		$	80,157		$	62,305

Schedule of Effective Income Tax Rate Reconciliation

Income tax expense differs from the amounts computed by applying the U.S. federal statutory income tax rate of 21.0 percent as a result of the following (in thousands):

	Year Ended June 30,
	2021			2020			2019
Expected tax expense computed at federal statutory rate	$	104,919		$	84,344		$	68,861
State and local taxes, net of federal benefit		21,252			15,965			13,216
Remeasurement of current year NOL		(56,192	)		—			—
Nonincludible and nondeductible items, net		(2,269	)		3,133			1,971
Remeasurement of deferred taxes and transition tax		—			—			(2,182	)
Effect of foreign tax rates		(687	)		(377	)		(380	)
R&D tax credit, net		(18,173	)		(10,700	)		(6,755	)
Other tax credits		(648	)		(1,183	)		(2,138	)
Stock-based compensation		(5,525	)		(10,900	)		(7,493	)
Other		(505	)		(125	)		(2,795	)
Total income tax expense	$	42,172		$	80,157		$	62,305
Effective income tax rate		8.4	%		20.0	%		19.0	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to deferred taxes are presented below (in thousands):

	June 30,
	2021			2020
Deferred tax assets:
Deferred compensation and post-retirement obligations	$	36,183		$	33,094
Reserves and accruals		58,900			41,137
Stock-based compensation		11,767			9,860
NOL carryforward		39,123			—
Lease liability		110,282			99,539
Interest rate swaps		6,800			11,349
Other assets		2,757			6,786
Total deferred tax assets		265,812			201,765
Deferred tax liabilities:
Goodwill and other intangible assets		(291,282	)		(273,088	)
Unbilled revenue		(35,115	)		(17,429	)
Prepaid expenses		(8,932	)		(6,444	)
Right of use assets		(90,186	)		(85,275	)
Property and equipment		(167,527	)		(32,625	)
Total deferred tax liabilities		(593,042	)		(414,861	)
Net deferred tax liability	$	(327,230	)	$	(213,096	)

Schedule of Unrecognized Tax Benefits

Changes in the Company’s liability for unrecognized tax benefits is shown in the table below (in thousands):

	Year Ended June 30,
	2021			2020		2019
Beginning of year	$	8,826		$	1,530	$	4,122
Additions based on current year tax positions		5,702			2,293		676
Lapse of statute of limitations		—			—		(164	)
Additions based on prior year tax positions		20,025			5,003		—
Reductions based on prior tax year positions		—			—		(3,104	)
Settlement with taxing authorities		(3,048	)		—		—
End of year	$	31,505		$	8,826	$	1,530