Debt (Tables)

12 Months Ended

Jun. 30, 2016

Debt Disclosure [Abstract]

Schedule of Long-Term Debt and Current Portion of Long-Term Debt

At June 30, 2016 and 2015, long-term debt and current portion of long-term debt consisted of the following:

	Fair Value at June 30, 2016  (1)			Book Value at June 30, 2016			Fair Value at June 30, 2015  (1)			Book Value at June 30, 2015
4.150 Percent Senior Notes	$	417,440		$	400,000		$	393,160		$	400,000
2.000 Percent Senior Notes		390,654			388,710			379,200			389,883
Borrowings under revolving credit facility		523,000			523,000			283,125			283,125
Term facility		-			-			-			-
IS Obligation (2)		82,805			82,805			-			-
Capital lease obligations		12,322			12,322			16,325			16,325
Total debt		1,426,221			1,406,837			1,071,810			1,089,333
Current portion of long-term debt (2)		(86,641	)		(86,641	)		(4,550	)		(4,550	)
Unamortized debt discount on 4.150 Percent Senior Notes		(2,407	)		(2,407	)		(2,626	)		(2,626	)
Unamortized debt discount on 2.000 Percent Senior Notes		(1,283	)		(1,283	)		(1,490	)		(1,490	)
Total long-term debt	$	1,335,890		$	1,316,506		$	1,063,144		$	1,080,667

⁽¹⁾ The estimated fair value of the 2.000 Percent Senior Notes and the 4.150 Senior Notes were based on a broker quotation (Level 2). Under fair value accounting guidance Level 2 is based on inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument.

⁽²⁾ Amounts due under the IS Obligation have been recorded at their present value and will be accreted to the ultimate settlement amount of $85.3 million through the effective-interest method (Level 2).  We are required to make a lump-sum payment of $13.3 million in July 2016 as well as five payments of $14.4 million due every July 1^st from 2016 through 2020.  Because the IS Obligation has an option, which if, exercised requires us to make selected installment payments on demand, it has been included as Current portion of long-term debt.  Refer to Note 8-Goodwill and Intangible Assets, Net for more information.

Long-Term Debt, Maturities in Years

At June 30, 2016, long-term debt maturing in each of the next five fiscal years and thereafter is as follows:

2017	$	86,641
2018		2,963
2019		2,064
2020		524,599
2021		1,446
Thereafter		789,124
Total	$	1,406,837