FINANCIAL STATEMENT COMPONENTS

12 Months Ended

Jun. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Consolidated Balance Sheets


	As of June 30,
(In thousands)	2021		2020
Accounts receivable, net:
Accounts receivable, gross	$	1,323,515	$	1,119,235
Allowance for credit losses	(18,036)		(11,822)
	$	1,305,479	$	1,107,413
Inventories:
Customer service parts	$	349,743	$	338,608
Raw materials	595,151		478,594
Work-in-process	453,432		334,965
Finished goods	177,054		158,818
	$	1,575,380	$	1,310,985
Other current assets:
Contract assets	$	91,052	$	99,876
Deferred costs of revenue	59,953		77,219
Prepaid expenses	76,649		74,955
Prepaid income and other taxes	68,847		56,809
Other current assets	24,366		15,816
	$	320,867	$	324,675
Land, property and equipment, net:
Land	$	67,862	$	67,858
Buildings and leasehold improvements	458,605		405,238
Machinery and equipment	743,710		677,627
Office furniture and fixtures	32,856		29,964
Construction-in-process	182,320		93,736
	1,485,353		1,274,423
Less: accumulated depreciation	(822,326)		(754,599)
	$	663,027	$	519,824
Other non-current assets:
Executive Deferred Savings Plan	$	266,199	$	213,487
Operating lease right of use assets	102,883		100,790
Other non-current assets	75,823		48,702
	$	444,905	$	362,979
Other current liabilities:
Executive Deferred Savings Plan	$	268,028	$	215,167
Compensation and benefits	305,445		251,379
Other accrued expenses	180,982		183,435
Customer credits and advances	250,784		114,896
Income taxes payable	87,320		35,640
Interest payable	36,135		36,265
Operating lease liabilities	32,322		28,994
	$	1,161,016	$	865,776
Other non-current liabilities:
Pension liabilities	$	87,602	$	78,911
Income taxes payable	333,866		383,447
Operating lease liabilities	70,739		70,885
Other non-current liabilities	139,083		139,041
	$	631,290	$	672,284

Accumulated Other Comprehensive Income (Loss)

The components of AOCI as of the dates indicated below were as follows:


(In thousands)	Currency Translation Adjustments		Unrealized Gains (Losses) on Available-for-Sale Securities		Unrealized Gains (Losses) on Cash Flow Hedges		Unrealized Gains (Losses) on Defined Benefit Plans		Total
Balance as of June 30, 2021	$	(32,563)	$	595	$	(20,092)	$	(23,497)	$	(75,557)

Balance as of June 30, 2020	$	(43,957)	$	3,683	$	(23,250)	$	(16,250)	$	(79,774)

The effects on net income of amounts reclassified from AOCI to the Consolidated Statements of Operations for the indicated periods were as follows (in thousands):


	Location in the Consolidated Statements of Operations	Year Ended June 30,
AOCI Components		2021		2020		2019
Unrealized gains (losses) on cash flow hedges from foreign exchange and interest rate contracts(1)	Revenues	$	384	$	4,086	$	4,329
	Costs of revenues and operating expenses	551		(1,377)		(739)
	Interest expense	(1,116)		(637)		424
	Other expense (income), net	—		—		4
	Net gains (losses) reclassified from AOCI	$	(181)	$	2,072	$	4,018

Unrealized gains (losses) on available-for-sale securities	Other expense (income), net	$	253	$	297	$	(1,294)

________________

(1)Reflects the adoption of the new accounting guidance for hedge accounting in the second quarter of fiscal year 2019. For additional details, refer to Note 17 “Derivative Instruments and Hedging Activities.”

The amounts reclassified out of AOCI related to our defined benefit pension plans, which were recognized as a component of net periodic cost for the fiscal years ended June 30, 2021, 2020 and 2019 were $1.2 million, $1.2 million and $1.1 million, respectively. For additional details, refer to Note 13 “Employee Benefit Plans.”

Consolidated Statements of Operations

The following table shows other expense (income), net for the indicated periods:


	Year Ended June 30,
(In thousands)	2021		2020		2019
Other expense (income), net:
Interest income	$	(8,929)	$	(21,646)	$	(40,367)
Foreign exchange (gains) losses, net	5,005		4,236		(322)
Net realized losses (gains) on sale of investments	(253)		(297)		1,294
Other	(25,125)		20,385		7,933
	$	(29,302)	$	2,678	$	(31,462)