Quarterly report pursuant to Section 13 or 15(d)

FINANCIAL STATEMENT COMPONENTS (Tables)

v3.22.2.2
FINANCIAL STATEMENT COMPONENTS (Tables)
 3 Months Ended
Sep. 30, 2022
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, 2022 June 30, 2022
Accounts receivable, net:
Accounts receivable, gross $ 1,884,328  $ 1,832,508 
Allowance for credit losses (27,008) (20,631)
$ 1,857,320  $ 1,811,877 
Inventories:
Customer service parts $ 422,983  $ 402,121 
Raw materials 1,183,244  1,042,916 
Work-in-process 527,359  451,782 
Finished goods 274,739  250,070 
$ 2,408,325  $ 2,146,889 
Other current assets:
Deferred costs of revenues $ 117,341  $ 124,487 
Contract assets 114,086  114,747 
Prepaid expenses 100,027  108,942 
Prepaid income and other taxes 31,009  89,713 
Other current assets 62,311  64,248 
$ 424,774  $ 502,137 
Land, property and equipment, net:
Land $ 72,288  $ 67,846 
Buildings and leasehold improvements 728,948  712,751 
Machinery and equipment 805,466  819,191 
Office furniture and fixtures 46,213  44,957 
Construction-in-process 150,974  110,079 
1,803,889  1,754,824 
Less: accumulated depreciation (890,887) (904,895)
$ 913,002  $ 849,929 
Other non-current assets:
Executive Deferred Savings Plan(1)
$ 213,824  $ 224,188 
Operating lease right of use assets 125,986  126,444 
Other non-current assets 154,221  133,980 
$ 494,031  $ 484,612 
Other current liabilities:
Customer credits and advances $ 579,767  $ 515,118 
Compensation and benefits 441,671  351,924 
Income taxes payable 278,400  126,964 
Other accrued expenses 245,476  253,265 
Executive Deferred Savings Plan(1)
215,193  225,867 
Interest payable 65,140  39,683 
Operating lease liabilities 30,701  32,218 
$ 1,856,348  $ 1,545,039 
Other non-current liabilities:
Customer credits and advances $ 304,396  $ 204,914 
Income taxes payable 300,461  367,052 
Operating lease liabilities 79,789  81,369 
Pension liabilities 73,426  78,525 
Other non-current liabilities 123,700  150,782 
$ 881,772  $ 882,642 
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(1)We have a non-qualified deferred compensation plan (known as “Executive Deferred Savings Plan” or “EDSP”) under which certain employees and non-employee directors may defer a portion of their compensation. The benefit associated with changes in the EDSP liability included in selling, general and administrative (“SG&A”) expense was $10.3 million and $1.0 million during the three months ended September 30, 2022 and 2021, respectively. The amount of net losses associated with changes in the EDSP assets included in SG&A expense was $10.3 million and $1.1 million during the three months ended September 30, 2022 and 2021, 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, 2022.
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, 2022 $ (63,598) $ (20,816) $ 49,617  $ (24,044) $ (58,841)
Balance as of June 30, 2022 $ (43,886) $ (15,486) $ 56,836  $ (24,935) $ (27,471)
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
September 30,
Location in the Condensed Consolidated Statement of Operations 2022 2021
Unrealized gains (losses) on cash flow hedges from foreign exchange and interest rate contracts Revenues $ 14,605  $ 1,729 
Costs of revenues and operating expenses (5,367) (232)
Interest expense 937  (279)
Net gains reclassified from AOCI $ 10,175  $ 1,218 
Unrealized gains (losses) on available-for-sale securities Other expense (income), net $ (174) $ 1