Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

v3.5.0.2
Debt (Tables)
12 Months Ended
Jun. 30, 2016
Debt Disclosure [Abstract]  
Schedule of Debt Long-term and Short-term Instruments
The following table summarizes the debt of the Company as of June 30, 2016 and June 30, 2015:
 
As of June 30, 2016
 
As of June 30, 2015
 
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
576,250

 
1.714
%
 
711,250

 
1.498
%
Total debt
3,076,250

 
 
 
3,211,250

 
 
Unamortized discount
(3,312
)
 
 
 
(3,723
)
 
 
Unamortized debt issuance costs
(15,002
)
 
 
 
(17,111
)
 
 
Total debt
$
3,057,936

 
 
 
$
3,190,416

 
 
 
 
 
 
 
 
 
 
Reported as:
 
 
 
 
 
 
 
Current portion of long-term debt
$

 
 
 
$
16,981

 
 
Long-term debt
3,057,936

 
 
 
3,173,435

 
 
Total debt
$
3,057,936

 
 
 
$
3,190,416

 
 
__________________ 
(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 Principal Payments and Maturities of Long-term Debt
Future principal payments for the Company’s term loans (without giving effect to $117.5 million of principal prepayments as of June 30, 2016 that shall be applied to the future schedule quarterly payments) as of June 30, 2016, are as follows:
Fiscal Quarters Ending
 
Quarterly Payment
(in thousands)
September 30, 2016 through December 31, 2016
 
$
9,375

March 31, 2017 through December 31, 2017
 
$
14,063

March 31, 2018 through September 30, 2019
 
$
18,750

December 31, 2019
 
$
487,500

As of June 30, 2016, future principal payments for the long-term debt are summarized as follows. There are no scheduled payments for the term loans for the fiscal years ending June 30, 2017 and 2018 since the Company made $117.5 million of principal prepayments as of June 30, 2016.
Fiscal year ending June 30,
Amount
(In thousands)
2017
$

2018
250,000

2019
70,000

2020
756,250

2021

Thereafter
2,000,000

Total payments
$
3,076,250

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
June 30, 2016 through September 30, 2016
 
3.75:1.00
December 31, 2016 and March 31, 2017
 
3.50:1.00
Thereafter
 
3.00:1.00