Sales of Receivables (Tables)

3 Months Ended

Sep. 30, 2024

Transfers and Servicing of Financial Assets [Abstract]

Schedule of MARPA Activity

MARPA activity consisted of the following (in thousands):

	As of and for the Three Months Ended September 30,
	2024		2023
Beginning balance:	$	250,000	$	200,000
Sales of receivables	959,019		695,260
Cash collections	(985,229)		(718,427)
Outstanding balance sold to Purchaser: (1)	223,790		176,833
Cash collected, not remitted to Purchaser (2)	(96,953)		(80,542)
Remaining sold receivables	$	126,837	$	96,291

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(1)For the three months ended September 30, 2024 and 2023, the Company recorded a net cash outflow of $26.2 million and a net cash outflow of $23.2 million in its cash flows from operating activities, respectively, from sold receivables. MARPA cash flows are calculated as the change in the outstanding balance during the fiscal year.

(2)Includes the cash collected on behalf of but not yet remitted to Purchaser as of September 30, 2024 and 2023. This balance is included in other accrued expenses and current liabilities as of the balance sheet date.