| FINANCIAL STATEMENT COMPONENTS |
FINANCIAL STATEMENT COMPONENTS Consolidated Balance Sheets
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As of June 30, |
| (In thousands) |
2024 |
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2023 |
| Accounts receivable, net: |
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| Accounts receivable, gross |
$ |
1,865,823 |
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$ |
1,786,993 |
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| Allowance for credit losses |
(32,782) |
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(33,632) |
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$ |
1,833,041 |
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$ |
1,753,361 |
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| Inventories: |
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| Customer service parts |
$ |
589,751 |
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$ |
524,096 |
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| Raw materials |
1,485,400 |
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1,559,202 |
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| Work-in-process |
700,895 |
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578,864 |
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| Finished goods |
258,735 |
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214,622 |
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$ |
3,034,781 |
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$ |
2,876,784 |
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| Other current assets: |
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| Deferred costs of revenue |
$ |
279,879 |
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$ |
133,067 |
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| Prepaid expenses |
124,969 |
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121,204 |
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| Prepaid income and other taxes |
102,398 |
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64,901 |
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| Contract assets |
69,259 |
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117,137 |
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| Other current assets |
82,822 |
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62,419 |
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$ |
659,327 |
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$ |
498,728 |
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| Land, property and equipment, net: |
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| Land |
$ |
78,260 |
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$ |
72,287 |
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| Buildings and leasehold improvements |
919,919 |
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825,975 |
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| Machinery and equipment |
1,116,793 |
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1,016,713 |
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| Office furniture and fixtures |
64,480 |
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58,036 |
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| Construction-in-process |
215,006 |
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168,817 |
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2,394,458 |
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2,141,828 |
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| Less: accumulated depreciation |
(1,284,490) |
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(1,109,987) |
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$ |
1,109,968 |
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$ |
1,031,841 |
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| Other non-current assets: |
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| EDSP |
$ |
303,365 |
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$ |
256,846 |
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| Operating lease ROU assets |
231,812 |
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208,706 |
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| Other non-current assets |
157,546 |
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171,910 |
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$ |
692,723 |
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$ |
637,462 |
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| Other current liabilities: |
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| Customer deposits |
$ |
645,893 |
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$ |
769,000 |
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| Compensation and benefits |
371,713 |
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|
370,536 |
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| EDSP |
303,088 |
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|
258,223 |
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| Income taxes payable |
146,740 |
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|
383,012 |
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| Interest payable |
128,727 |
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105,270 |
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| Operating lease liabilities |
36,391 |
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|
34,042 |
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| Other liabilities and accrued expenses |
431,017 |
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383,407 |
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$ |
2,063,569 |
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$ |
2,303,490 |
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| Other non-current liabilities: |
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| Income taxes payable |
$ |
291,106 |
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$ |
322,113 |
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| Operating lease liabilities |
153,117 |
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138,354 |
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| Customer deposits |
99,794 |
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156,874 |
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| Pension liabilities |
51,778 |
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63,672 |
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| Other non-current liabilities |
147,320 |
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|
132,045 |
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$ |
743,115 |
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$ |
813,058 |
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Accumulated Other Comprehensive Income (Loss)
The components of AOCI as of the dates indicated below were as follows:
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| (In thousands) |
Currency Translation Adjustments |
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Unrealized Gains (Losses) on Available-for-Sale Securities |
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Unrealized Gains (Losses) on Derivatives |
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Unrealized Gains (Losses) on Defined Benefit Plans |
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Total |
| Balance as of June 30, 2024 |
$ |
(75,846) |
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$ |
(3,654) |
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$ |
46,243 |
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$ |
(15,818) |
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$ |
(49,075) |
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| Balance as of June 30, 2023 |
$ |
(64,627) |
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$ |
(12,797) |
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$ |
59,944 |
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$ |
(18,861) |
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$ |
(36,341) |
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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):
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Location in the Consolidated Statements of Operations |
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Year Ended June 30, |
| AOCI Components |
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2024 |
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2023 |
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2022 |
| Unrealized gains (losses) on cash flow hedges from foreign exchange and interest rate contracts |
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Revenues |
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$ |
18,374 |
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$ |
31,837 |
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$ |
10,688 |
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Costs of revenues and operating expenses |
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3,766 |
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(6,526) |
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(3,762) |
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Interest expense |
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3,764 |
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3,747 |
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(1,007) |
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Net gains (losses) reclassified from AOCI |
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$ |
25,904 |
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$ |
29,058 |
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$ |
5,919 |
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| Unrealized gains (losses) on available-for-sale securities |
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Other expense (income), net |
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$ |
(103) |
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$ |
(986) |
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$ |
(306) |
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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, 2024, 2023 and 2022 were $1.1 million, $1.7 million and $1.4 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:
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Year Ended June 30, |
| (In thousands) |
2024 |
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2023 |
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2022 |
| Other expense (income), net: |
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| Interest income |
$ |
(160,688) |
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$ |
(74,095) |
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$ |
(8,695) |
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| Foreign exchange (gains) losses, net |
(7,268) |
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233 |
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3,925 |
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| Net realized losses on sale of investments |
103 |
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986 |
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306 |
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| Other |
12,778 |
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(31,844) |
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9,069 |
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$ |
(155,075) |
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$ |
(104,720) |
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$ |
4,605 |
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