Quarterly report pursuant to Section 13 or 15(d)

FINANCIAL STATEMENT COMPONENTS (Tables)

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FINANCIAL STATEMENT COMPONENTS (Tables)
 3 Months Ended
Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Balance Sheet Components
Condensed Consolidated Balance Sheets
As of As of
(In thousands) September 30, 2024 June 30, 2024
Accounts receivable, net:
Accounts receivable, gross $ 1,985,777  $ 1,865,823 
Allowance for credit losses (32,621) (32,782)
$ 1,953,156  $ 1,833,041 
Inventories:
Customer service parts $ 602,206  $ 589,751 
Raw materials 1,489,622  1,485,400 
Work-in-process 736,878  700,895 
Finished goods 281,131  258,735 
$ 3,109,837  $ 3,034,781 
Other current assets:
Deferred costs of revenues $ 215,370  $ 279,879 
Prepaid expenses 118,366  124,969 
Contract assets 71,407  69,259 
Prepaid income and other taxes 58,210  102,398 
Other current assets 72,377  82,822 
$ 535,730  $ 659,327 
Land, property and equipment, net:
Land $ 78,259  $ 78,260 
Buildings and leasehold improvements 925,296  919,919 
Machinery and equipment 1,139,003  1,116,793 
Office furniture and fixtures 64,416  64,480 
Construction-in-process 241,060  215,006 
2,448,034  2,394,458 
Less: accumulated depreciation (1,329,722) (1,284,490)
$ 1,118,312  $ 1,109,968 
Other non-current assets:
Executive Deferred Savings Plan(1)
$ 318,855  $ 303,365 
Operating lease right of use assets 250,460  231,812 
Other non-current assets 156,348  157,546 
$ 725,663  $ 692,723 
Other current liabilities:
Customer deposits $ 610,630  $ 645,893 
Compensation and benefits 479,471  371,713 
Income taxes payable 347,503  146,740 
Executive Deferred Savings Plan(1)
319,432  303,088 
Interest payable 77,504  128,727 
Operating lease liabilities 40,414  36,391 
Other liabilities and accrued expenses 407,094  431,017 
$ 2,282,048  $ 2,063,569 
Other non-current liabilities:
Income taxes payable $ 217,015  $ 291,106 
Operating lease liabilities 154,325  153,117 
Customer deposits 71,564  99,794 
Pension liabilities 56,924  51,778 
Other non-current liabilities 151,240  147,320 
$ 651,068  $ 743,115 
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(1)We have a non-qualified deferred compensation plan (known as the “Executive Deferred Savings Plan” or “EDSP”) under which certain employees and non-employee directors may defer a portion of their compensation. The expense (benefit) associated with changes in the EDSP liability included in selling, general and administrative (“SG&A”) was $18.0 million and $(9.3) million during the three months ended September 30, 2024 and 2023, respectively. The amount of net gains (losses) associated with changes in the EDSP assets included in SG&A expense was $17.9 million and $(9.5) million during the three months ended September 30, 2024 and 2023, respectively. For additional details, refer to Note 1 “Description of Business and Summary of Significant Accounting Policies” to our Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024.
Schedule of Components of Accumulated Other Comprehensive Income (Loss)
The components of Accumulated Other Comprehensive Income (Loss) (“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 September 30, 2024 $ (66,737) $ 9,237  $ 48,046  $ (16,050) $ (25,504)
Balance as of June 30, 2024 $ (75,846) $ (3,654) $ 46,243  $ (15,818) $ (49,075)
Schedule of Reclassification out of Accumulated Other Comprehensive Income
The effects on net income of amounts reclassified from AOCI to the Condensed Consolidated Statements of Operations for the indicated periods were as follows (in thousands; amounts in parentheses indicate debits or reductions to earnings):
AOCI Components Three Months Ended
Location in the Condensed Consolidated Statement of Operations September 30,
2024 2023
Unrealized gains on cash flow hedges from foreign exchange and interest rate contracts Revenues $ 2,535  $ 3,396 
Costs of revenues and operating expenses 26  2,775 
Interest expense 947  937 
Net gains reclassified from AOCI $ 3,508  $ 7,108 
Unrealized losses on available-for-sale securities Other expense (income), net $ (1) $ (12)