Quarterly report [Sections 13 or 15(d)]

FINANCIAL STATEMENT COMPONENTS (Tables)

v3.25.1
FINANCIAL STATEMENT COMPONENTS (Tables)
 9 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Balance Sheet Components
Condensed Consolidated Balance Sheets
As of As of
(In thousands) March 31, 2025 June 30, 2024
Accounts receivable, net:
Accounts receivable, gross $ 2,191,412  $ 1,865,823 
Allowance for credit losses (31,515) (32,782)
$ 2,159,897  $ 1,833,041 
Inventories:
Customer service parts $ 585,938  $ 589,751 
Raw materials 1,461,138  1,485,400 
Work-in-process 808,562  700,895 
Finished goods 300,139  258,735 
$ 3,155,777  $ 3,034,781 
Other current assets:
Deferred costs of revenues $ 206,708  $ 279,879 
Prepaid expenses 179,226  124,969 
Contract assets 98,987  69,259 
Prepaid income and other taxes 52,854  102,398 
Other current assets 62,948  82,822 
$ 600,723  $ 659,327 
Land, property and equipment, net:
Land $ 86,677  $ 78,260 
Buildings and leasehold improvements 999,652  919,919 
Machinery and equipment 1,191,997  1,116,793 
Office furniture and fixtures 68,684  64,480 
Construction-in-process 287,290  215,006 
2,634,300  2,394,458 
Less: accumulated depreciation (1,435,998) (1,284,490)
$ 1,198,302  $ 1,109,968 
Other non-current assets:
Executive Deferred Savings Plan(1)
$ 320,206  $ 303,365 
Operating lease right of use assets 268,405  231,812 
Other non-current assets 149,979  157,546 
$ 738,590  $ 692,723 
Other current liabilities:
Customer deposits $ 529,124  $ 645,893 
Compensation and benefits 456,482  371,713 
Executive Deferred Savings Plan(1)
322,697  303,088 
Income taxes payable 200,869  146,740 
Interest payable 61,172  128,727 
Operating lease liabilities 43,468  36,391 
Other liabilities and accrued expenses 489,379  431,017 
$ 2,103,191  $ 2,063,569 
Other non-current liabilities:
Income taxes payable $ 226,545  $ 291,106 
Operating lease liabilities 162,383  153,117 
Pension liabilities 54,284  51,778 
Customer deposits 27,851  99,794 
Other non-current liabilities 161,411  147,320 
$ 632,474  $ 743,115 
________________
(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 $(7.9) million and $17.4 million in the three months ended March 31, 2025 and 2024, respectively, and was $13.4 million and $33.9 million during the nine months ended March 31, 2025 and 2024, respectively. The amount of net gains (losses) associated with changes in the EDSP assets included in SG&A expense was $(9.1) million and $17.1 million in the three months ended March 31, 2025 and 2024, respectively, and was $12.3 million and $33.3 million during the nine months ended March 31, 2025 and 2024, 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 March 31, 2025 $ (75,861) $ 4,638  $ 44,042  $ (15,452) $ (42,633)
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 Nine Months Ended
Location in the Condensed Consolidated Statement of Operations March 31, March 31,
2025 2024 2025 2024
Unrealized gains (losses) on cash flow hedges from foreign exchange and interest rate contracts Revenues $ 2,680  $ 4,439  $ 6,226  $ 15,871 
Costs of revenues and operating expenses (2,146) 2,221  (1,692) 4,976 
Interest expense 758  944  2,526  2,818 
Net gains reclassified from AOCI $ 1,292  $ 7,604  $ 7,060  $ 23,665 
Unrealized gains (losses) on available-for-sale securities Other expense (income), net $ 9  $ 54  $ 9  $ (19)