Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.7.0.1
Debt (Tables)
 9 Months Ended
Mar. 31, 2017
Debt Disclosure [Abstract]  
Schedule of Debt
The following table summarizes the debt of the Company as of March 31, 2017 and June 30, 2016:
 
As of March 31, 2017
 
As of June 30, 2016
 
Amount
(In thousands)
 
Effective
Interest Rate
 
Amount
(In thousands)
 
Effective
Interest Rate
Fixed-rate 2.375% Senior notes due on November 1, 2017
$
250,000

 
2.396
%
 
$
250,000

 
2.396
%
Fixed-rate 3.375% Senior notes due on November 1, 2019
250,000

 
3.377
%
 
250,000

 
3.377
%
Fixed-rate 4.125% Senior notes due on November 1, 2021
500,000

 
4.128
%
 
500,000

 
4.128
%
Fixed-rate 4.650% Senior notes due on November 1, 2024(1)
1,250,000

 
4.682
%
 
1,250,000

 
4.682
%
Fixed-rate 5.650% Senior notes due on November 1, 2034
250,000

 
5.670
%
 
250,000

 
5.670
%
Term loans
471,250

 
2.069
%
 
576,250

 
1.714
%
Total debt
2,971,250

 
 
 
3,076,250

 
 
Unamortized discount
(3,004
)
 
 
 
(3,312
)
 
 
Unamortized debt issuance costs
(13,419
)
 
 
 
(15,002
)
 
 
Total long-term debt
$
2,954,827

 
 
 
$
3,057,936

 
 
Reported as:
 
 
 
 
 
 
 
Current portion of long-term debt
$
249,971

 
 
 
$
—

 
 
Long-term debt
2,704,856

 
 
 
3,057,936

 
 
 Total debt
$
2,954,827

 
 
 
$
3,057,936

 
 
__________________ 
(1)
The effective interest rate disclosed above for this series of Senior Notes excludes the impact of the treasury rate lock hedge discussed below. The effective interest rate including the impact of the treasury rate lock hedge was 4.626%.
Schedule of Maturities of Term Loans
As of March 31, 2017, future principal payments for the long-term debt are summarized as follows:
Fiscal year ending June 30:
Amount
(In thousands)
2017 (remaining 3 months)
$
—

2018
250,000

2019
—

2020
721,250

2021
—

Thereafter
2,000,000

Total payments
$
2,971,250

Schedule of Debt Covenants
In addition, the Company is required to maintain the maximum leverage ratio as described in the Credit Agreement, on a quarterly basis, covering the trailing four consecutive fiscal quarters for the fiscal quarters as described below.
Fiscal Quarters Ending
 
Maximum Leverage Ratio
March 31, 2017
 
3.50:1.00
Thereafter
 
3.00:1.00