FINANCIAL STATEMENT COMPONENTS (Tables)

9 Months Ended

Mar. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidated Balance Sheets


	As of		As of
(In thousands)	March 31, 2022		June 30, 2021
Accounts receivable, net:
Accounts receivable, gross	$	1,637,904	$	1,323,515
Allowance for credit losses	(19,037)		(18,036)
	$	1,618,867	$	1,305,479
Inventories:
Customer service parts	$	393,215	$	349,743
Raw materials	900,069		595,151
Work-in-process	441,563		453,432
Finished goods	247,450		177,054
	$	1,982,297	$	1,575,380
Other current assets:
Contract assets	$	104,838	$	91,052
Deferred costs of revenues	90,584		59,953
Prepaid expenses	84,073		76,649
Prepaid income and other taxes	46,126		68,847
Other current assets	78,036		24,366
	$	403,657	$	320,867
Land, property and equipment, net:
Land	$	67,857	$	67,862
Buildings and leasehold improvements	631,467		458,605
Machinery and equipment	782,070		743,710
Office furniture and fixtures	42,617		32,856
Construction-in-process	156,315		182,320
	1,680,326		1,485,353
Less: accumulated depreciation	(871,452)		(822,326)
	$	808,874	$	663,027
Other non-current assets:
Executive Deferred Savings Plan(1)	$	260,634	$	266,199

Operating lease right of use assets	101,240		102,883
Other non-current assets	79,247		75,823
	$	441,121	$	444,905
Other current liabilities:
Customer credits and advances	$	558,487	$	250,784
Compensation and benefits	420,803		305,445
Executive Deferred Savings Plan(1)	262,907		268,028
Other accrued expenses	196,919		180,982

Income taxes payable	120,803		87,320
Interest payable	34,626		36,135
Operating lease liabilities	31,158		32,322
	$	1,625,703	$	1,161,016
Other non-current liabilities:
Income taxes payable	$	346,516	$	333,866
Pension liabilities	81,102		87,602
Operating lease liabilities	62,053		70,739
Other non-current liabilities	152,495		139,083
	$	642,166	$	631,290

________________

(1)We have a non-qualified deferred compensation plan (known as “Executive Deferred Savings Plan” or “EDSP”) under which certain employees and non-employee directors may defer a portion of their compensation. The expense (benefit) associated with changes in the EDSP liability included in selling, general and administrative (“SG&A”) expense was $(18.8) million and $5.7 million during the three months ended March 31, 2022 and 2021, respectively, and was $(7.8) million and $41.0 million during the nine months ended March 31, 2022 and 2021, respectively. The amount of net gains (losses) associated with changes in the EDSP assets included in SG&A expense was $(18.7) million and $5.8 million during the three months ended March 31, 2022 and 2021, respectively and was $(8.0) million and $41.3 million during the nine months ended March 31, 2022 and 2021, respectively. For additional details, refer to Note 1 “Description of Business and Summary of Significant Accounting Policies” to our Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2021.

Schedule of Components of Accumulated Other Comprehensive Income (Loss)

The components of Accumulated Other Comprehensive Income (Loss) (“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 Derivatives		Unrealized Gains (Losses) on Defined Benefit Plans		Total
Balance as of March 31, 2022	$	(35,031)	$	(11,789)	$	(2,891)	$	(21,822)	$	(71,533)

Balance as of June 30, 2021	$	(32,563)	$	595	$	(20,092)	$	(23,497)	$	(75,557)

Schedule of Reclassification out of Accumulated Other Comprehensive Income

The effects on net income (loss) of amounts reclassified from AOCI to the Condensed Consolidated Statements of Operations for the indicated period were as follows (in thousands; amounts in parentheses indicate debits or reductions to earnings):


AOCI Components		Three Months Ended				Nine Months Ended
	Location in the Condensed Consolidated	March 31,				March 31,
	Statement of Operations	2022		2021		2022		2021
Unrealized gains (losses) on cash flow hedges from foreign exchange and interest rate contracts	Revenues	$	1,600	$	(583)	$	4,868	$	(1,511)
	Costs of revenues and operating expenses	(329)		187		(909)		612
	Interest expense	(279)		(279)		(837)		(837)

	Net gains (losses) reclassified from AOCI	$	992	$	(675)	$	3,122	$	(1,736)
Unrealized gains (losses) on available-for-sale securities	Other expense (income), net	$	(88)	$	25	$	(90)	$	238