Income Taxes (Tables)

12 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Income Tax From Continuing Operations Provision For Income Tax Components Disclosure

Earnings before income taxes shown below are based on the geographic location to which such earnings are attributable.

Years ended June 30,	2021		2020		2019
Earnings before income taxes:
United States	$	3,010.9	$	2,815.4	$	2,584.6
Foreign	350.3		367.2		421.0
	$	3,361.2	$	3,182.6	$	3,005.6

Schedule Of Components Of Provision (Benefit) For Income Taxes

The provision (benefit) for income taxes consists of the following components:

Years ended June 30,	2021		2020		2019
Current:
Federal	$	749.3	$	468.3	$	464.3
Foreign	121.9		119.5		129.1
State	142.6		102.3		110.1
Total current	1,013.8		690.1		703.5
Deferred:
Federal	(182.6)		23.7		7.9
Foreign	(19.1)		(5.4)		12.8
State	(49.4)		7.7		(11.4)
Total deferred	(251.1)		26.0		9.3
Total provision for income taxes	$	762.7	$	716.1	$	712.8

Reconciliation Between Federal Statutory Tax And Effective Tax Rate

A reconciliation between the Company's effective tax rate and the U.S. federal statutory rate is as follows:

Years ended June 30,	2021		%	2020		%	2019		%
Provision for taxes at U.S. statutory rate	$	705.9	21.0	$	668.4	21.0	$	631.2	21.0
Increase/(decrease) in provision from:
State taxes, net of federal tax benefit	67.2		2.0	85.6		2.7	80.7		2.7
Valuation allowance release on foreign tax credits	—		—	(20.3)		(0.6)	—		—
Foreign rate differential	34.0		1.0	44.9		1.4	46.9		1.6
Excess tax benefit - Stock-based compensation	(8.8)		(0.2)	(26.9)		(0.8)	(29.8)		(1.0)
Other	(35.6)		(1.1)	(35.6)		(1.2)	(16.2)		(0.6)
	$	762.7	22.7	$	716.1	22.5	$	712.8	23.7

Components Of Deferred Tax Assets And Liabilities

The significant components of deferred income tax assets and liabilities and their balance sheet classifications are as follows:

Years ended June 30,	2021		2020
Deferred tax assets:
Accrued expenses not currently deductible	$	244.2	$	203.0
Stock-based compensation expense	38.4		33.8
Foreign tax credits	21.3		20.1
Net operating losses	46.3		52.0
Retirement benefits	—		46.0
Other	34.7		25.9
	384.9		380.8
Less: valuation allowances	(13.4)		(12.0)
Deferred tax assets, net	$	371.5	$	368.8
Deferred tax liabilities:
Deferred revenue	$	494.5	$	475.0
Fixed and intangible assets	119.4		288.2
Prepaid expenses	27.9		82.3
Prepaid retirement benefits	37.7		—
Unrealized investment gains, net	101.7		187.9
Tax on unrepatriated earnings	11.4		22.2
Other	13.6		6.4
Deferred tax liabilities	806.2		1,062.0
Net deferred tax liabilities	$	434.7	$	693.2

Summary of Income Tax Contingencies

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:

	2021		2020		2019
Unrecognized tax benefits at beginning of the year	$	62.3	$	54.2	$	45.2
Additions for tax positions	18.8		13.2		9.5
Additions for tax positions of prior periods	32.5		6.3		18.3
Reductions for tax positions of prior periods	(11.0)		(4.3)		(7.7)
Settlement with tax authorities	(1.3)		(4.0)		(10.3)
Expiration of the statute of limitations	(1.5)		(2.8)		(0.6)
Impact of foreign exchange rate fluctuations	0.1		(0.3)		(0.2)
Unrecognized tax benefit at end of year	$	99.9	$	62.3	$	54.2

Summary of Income Tax Examinations

Examinations in progress in which the Company has significant business operations are as follows:

Taxing Jurisdiction	Fiscal Years under Examination
Illinois	2017 - 2018
Massachusetts	2013 - 2014, 2016 - 2018
Texas	2016 - 2018
Michigan	2012 - 2018
New York State	2016 - 2018
New York City	2016 - 2017
India	2004 - 2011, 2013 - 2018