Annual report pursuant to Section 13 and 15(d)

FINANCIAL STATEMENT COMPONENTS

v3.23.2
FINANCIAL STATEMENT COMPONENTS
 12 Months Ended
Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
FINANCIAL STATEMENT COMPONENTS FINANCIAL STATEMENT COMPONENTS
Consolidated Balance Sheets
  As of June 30,
(In thousands) 2023 2022
Accounts receivable, net:
Accounts receivable, gross $ 1,786,993  $ 1,832,508 
Allowance for credit losses (33,632) (20,631)
$ 1,753,361  $ 1,811,877 
Inventories:
Customer service parts $ 524,096  $ 402,121 
Raw materials 1,559,202  1,042,916 
Work-in-process 578,864  451,782 
Finished goods 214,622  250,070 
$ 2,876,784  $ 2,146,889 
Other current assets:
Deferred costs of revenue $ 133,067  $ 124,487 
Contract assets 117,137  114,747 
Prepaid expenses 121,204  108,942 
Prepaid income and other taxes 64,901  89,713 
Other current assets 62,419  64,248 
$ 498,728  $ 502,137 
Land, property and equipment, net:
Land $ 72,287  $ 67,846 
Buildings and leasehold improvements 825,975  712,751 
Machinery and equipment 1,016,713  819,191 
Office furniture and fixtures 58,036  44,957 
Construction-in-process 168,817  110,079 
2,141,828  1,754,824 
Less: accumulated depreciation (1,109,987) (904,895)
$ 1,031,841  $ 849,929 
Other non-current assets:
EDSP $ 256,846  $ 224,188 
Operating lease ROU assets 208,706  126,444 
Other non-current assets 171,910  133,980 
$ 637,462  $ 484,612 
Other current liabilities:
Customer deposits $ 769,000  $ 394,016 
Compensation and benefits 370,536  351,924 
EDSP 258,223  225,867 
Income taxes payable 383,012  126,964 
Interest payable 105,270  39,683 
Operating lease liabilities 34,042  32,218 
Other liabilities and accrued expenses 383,407  374,367 
$ 2,303,490  $ 1,545,039 
Other non-current liabilities:
Income taxes payable $ 322,113  $ 367,052 
Customer deposits 156,874  204,914 
Operating lease liabilities 138,354  81,369 
Pension liabilities 63,672  78,525 
Other non-current liabilities 132,045  150,782 
$ 813,058  $ 882,642 

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 Derivatives Unrealized Gains (Losses) on Defined Benefit Plans Total
Balance as of June 30, 2023 $ (64,627) $ (12,797) $ 59,944  $ (18,861) $ (36,341)
Balance as of June 30, 2022 $ (43,886) $ (15,486) $ 56,836  $ (24,935) $ (27,471)
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, amounts in parentheses indicate debits or reductions to earnings):
Location in the Consolidated Statements of Operations Year Ended June 30,
AOCI Components 2023 2022 2021
Unrealized gains (losses) on cash flow hedges from foreign exchange and interest rate contracts Revenues $ 31,837  $ 10,688  $ 384 
Costs of revenues and operating expenses (6,526) (3,762) 551 
Interest expense 3,747  (1,007) (1,116)
Net gains (losses) reclassified from AOCI $ 29,058  $ 5,919  $ (181)
Unrealized gains (losses) on available-for-sale securities Other expense (income), net $ (986) $ (306) $ 253 
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, 2023, 2022 and 2021 were $1.7 million, $1.4 million and $1.2 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) 2023 2022 2021
Other expense (income), net:
Interest income $ (74,095) $ (8,695) $ (8,929)
Foreign exchange losses, net 233  3,925  5,005 
Net realized losses (gains) on sale of investments 986  306  (253)
Other (31,844) 9,069  (25,125)
$ (104,720) $ 4,605  $ (29,302)