Revenue Recognition (Tables)

9 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The Company has presented below its revenue disaggregated by product line and by revenue type within each of its Investor Communication Solutions and Global Technology and Operations reportable segments.

Fee revenues in the Investor Communication Solutions segment are derived from both recurring and event-driven activity. In addition, the level of recurring and event-driven activity the Company processes directly impacts distribution revenues. While event-driven activity is highly repeatable, it may not recur on an annual basis. Event-driven fee revenues are based on the number of special events and corporate transactions the Company processes. Event-driven activity is impacted by financial market conditions and changes in regulatory compliance requirements, resulting in fluctuations in the timing and levels of event-driven fee revenues. Distribution revenues primarily include revenues related to the physical mailing and distribution of proxy materials, interim communications, transaction reporting, customer communications and fulfillment services, as well as Matrix administrative services.

	Three Months Ended   March 31,				Nine Months Ended   March 31,
	2020		2019		2020		2019
	(In millions)				(In millions)
Investor Communication Solutions
Equity proxy	$	136.4	$	152.9	$	208.4	$	225.6
Mutual fund and exchange traded funds (“ETF”) interims	87.2		82.1		217.7		200.6
Customer communications and fulfillment	208.0		201.1		555.5		558.6
Other ICS	97.4		83.5		264.2		228.8
Total ICS Recurring fee revenues	529.0		519.6		1,245.8		1,213.6
Equity and other	22.1		35.4		54.9		79.0
Mutual funds	17.0		33.1		55.3		114.5
Total ICS Event-driven fee revenues	39.1		68.4		110.3		193.5
Distribution revenues	412.1		417.9		1,042.4		1,081.6
Total ICS Revenues	$	980.2	$	1,005.9	$	2,398.4	$	2,488.7
Global Technology and Operations
Equities and other	$	259.4	$	206.7	$	727.4	$	612.0
Fixed income	46.1		41.1		132.9		121.2
Total GTO Recurring fee revenues	305.5		247.8		860.3		733.2
Foreign currency exchange	(35.8)		(28.9)		(91.6)		(70.9)
Total Revenues	$	1,249.9	$	1,224.8	$	3,167.1	$	3,151.0
Revenues by Type
Recurring fee revenues	$	834.5	$	767.4	$	2,106.1	$	1,946.8
Event-driven fee revenues	39.1		68.4		110.3		193.5
Distribution revenues	412.1		417.9		1,042.4		1,081.6
Foreign currency exchange	(35.8)		(28.9)		(91.6)		(70.9)
Total Revenues	$	1,249.9	$	1,224.8	$	3,167.1	$	3,151.0

Contract Assets and Liabilities

The following table provides information about contract assets and liabilities:

	March 31, 2020		June 30, 2019
	(In millions)
Contract assets	$	77.5	$	47.5
Contract liabilities	$	277.7	$	251.6