PAYABLES AND ACCRUED EXPENSES

12 Months Ended

Jun. 30, 2025

Payables and accrued expenses consisted of the following:


	June 30,
	2025		2024
	(in millions)
Accounts payable	$	220.3	$	314.0
Employee compensation and benefits	372.8		354.4
Accrued broker fees	137.0		126.3
Accrued dividend payable	103.1		93.4
Customer deposits	84.4		52.7
Accrued taxes	60.1		112.5
Business process outsourcing administration fees	52.6		59.9
Operating lease liabilities	37.2		38.0
Other	45.4		43.3
Total	$	1,112.8	$	1,194.4

Restructuring Charges

The total Employee compensation and benefits liability within the table above of $372.8 million and $354.4 million, respectively, includes a restructuring liability of $22.7 million and $38.9 million as of June 30, 2025 and 2024, respectively.

During the fourth quarter of fiscal year 2024, Broadridge completed a corporate restructuring initiative to exit and realign some of its businesses, streamline the Company’s management structure, reallocate work to lower cost locations, and reduce headcount in deprioritized areas (the “Corporate Restructuring Initiative”), which was initiated in the fourth quarter of fiscal year 2023. For fiscal years 2024, this restructuring resulted in total severance costs of $45.2 million recorded in Operating expenses. These costs were not reflected in segment profit and are recorded within Corporate and Other.