Income Taxes (Tables)

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Schedule Of Components Of Income From Continuing Operations

The components of income from continuing operations upon which domestic and foreign income taxes have been provided are as follows:

(in 000s)
Year ended June 30,	2024		2023		2022
Domestic	$	489,912	$	447,900	$	478,166
Foreign	272,410		263,312		180,903
	$	762,322	$	711,212	$	659,069

Schedule Of Effective Income Tax Rate Reconciliation

The reconciliation between the statutory U.S. federal tax rate and our effective tax rate from continuing operations is as follows:

Year ended June 30,	2024		2023		2022
U.S. statutory tax rate	21.0	%	21.0	%	21.0	%
Change in tax rate resulting from:
State income taxes, net of federal income tax benefit	1.4	%	1.6	%	2.1	%
Earnings taxed in foreign jurisdictions	(1.9)	%	(2.9)	%	(2.4)	%
Permanent differences	0.7	%	0.6	%	0.9	%
Uncertain tax positions	(0.4)	%	(0.9)	%	(6.3)	%
U.S. tax on income from foreign affiliates	4.1	%	3.1	%	2.0	%
Federal income tax credits	(2.4)	%	(1.3)	%	(2.6)	%
Foreign investment recapture	2.6	%	—	%	0.6	%
Change in valuation allowance - domestic	—	%	(0.4)	%	0.2	%
Change in valuation allowance - foreign	(2.8)	%	0.7	%	(0.3)	%
Other	(0.7)	%	(0.5)	%	(0.3)	%
Effective tax rate	21.6	%	21.0	%	14.9	%

Schedule Of Components Of Income Tax Expense (Benefit) For Continuing Operations

The components of income tax expense for continuing operations are as follows:

(in 000s)
Year ended June 30,	2024		2023		2022
Current:
Federal	$	191,664	$	97,430	$	121,319
State	9,695		19,023		25,108
Foreign	18,240		18,214		8,956
	219,599		134,667		155,383
Deferred:
Federal	(59,441)		23,367		(58,487)
State	(11,749)		1,860		(2,016)
Foreign	15,950		(10,482)		3,543
	(55,240)		14,745		(56,960)
Total income taxes for continuing operations	$	164,359	$	149,412	$	98,423

Schedule Of Deferred Tax Assets And Liabilities

The significant components of deferred tax assets and liabilities are reflected in the following table:

(in 000s)
As of	June 30, 2024		June 30, 2023
Deferred tax assets:
Accrued expenses	$	3,796	$	2,540
Deferred revenue	50,944		17,702
Allowance for credit losses	30,581		22,715
Deferred and stock-based compensation	8,060		6,629
Net operating loss carry-forward	63,398		116,956
Lease liabilities	117,483		111,721
Federal tax benefits related to state unrecognized tax benefits	26,841		22,037
Property and equipment	2,260		—
Internally developed software	15,063		—
Intangibles - intellectual property	71,367		80,879
Valuation allowance	(16,569)		(57,566)
Total deferred tax assets	373,224		323,613
Deferred tax liabilities:
Prepaid expenses and other	(3,001)		(5,954)
Lease right of use assets	(115,128)		(109,814)
Property and equipment	—		(1,421)
Income tax method change	—		(1,018)
Intangibles	(51,398)		(56,651)
Total deferred tax liabilities	(169,527)		(174,858)
Net deferred tax assets	$	203,697	$	148,755

A reconciliation of the deferred tax assets and liabilities and the corresponding amounts reported in the consolidated balance sheets is as follows:

(in 000s)
As of	June 30, 2024		June 30, 2023
Deferred income tax assets	$	203,697	$	152,699
Deferred tax liabilities	—		(3,944)
Net deferred tax asset	$	203,697	$	148,755

Summary of Valuation Allowance

Changes in our valuation allowance for fiscal years 2024, 2023 and 2022 are as follows:

(in 000s)
Year ended June 30,	2024		2023		2022
Balance, beginning of the year	$	57,566	$	55,172	$	55,784
Additions charged to costs and expenses	4,584		6,438		4,752
Deductions	(45,581)		(4,044)		(5,364)
Balance, end of the year	$	16,569	$	57,566	$	55,172

Schedule Of Reconciliation Of Unrecognized Tax Benefits

Changes in unrecognized tax benefits for fiscal years 2024, 2023 and 2022 are as follows:

(in 000s)
Year ended June 30,	2024		2023		2022
Balance, beginning of the year	$	240,063	$	232,004	$	264,323
Additions based on tax positions related to prior years	1,232		1,252		2,499
Reductions based on tax positions related to prior years	(4,604)		—		(5,332)
Additions based on tax positions related to the current year	37,063		33,330		32,948
Reductions related to settlements with tax authorities	(4,472)		(661)		(9,800)
Expiration of statute of limitations	(17,495)		(25,862)		(52,634)
Balance, end of the year	$	251,787	$	240,063	$	232,004