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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 379,058 $ 341,975
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 167,104 139,264
Amortization of deferred financing costs 3,826 2,134
Stock-based compensation expense 53,361 44,108
Deferred income taxes 72,121 (7,813)
Changes in operating assets and liabilities, net of effect of business acquisitions:    
Accounts receivable, net 10,137 (90,185)
Prepaid expenses and other assets (61,343) 359
Accounts payable and other accrued expenses (90,256) (3,759)
Accrued compensation and benefits (2,912) (44,238)
Income taxes (28,083) 6,685
Operating lease liabilities, net 4,986 389
Long-term liabilities 445 2,108
Net cash provided by operating activities 508,444 391,027
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (59,876) (37,640)
Acquisitions of businesses, net of cash acquired (2,625,424) (1,642,075)
Other 158 2,410
Net cash used in investing activities (2,685,142) (1,677,305)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from borrowings 5,069,751 5,833,500
Principal payments on borrowings (2,781,486) (4,257,835)
Deferred financing costs (21,752) (9,803)
Proceeds from employee stock purchase plans 10,523 9,668
Repurchases of common stock (12,714) (163,998)
Payment of taxes for equity transactions (31,231) (37,058)
Other (2,772) 0
Net cash provided by financing activities 2,230,319 1,374,474
Effect of exchange rate changes on cash and cash equivalents (1,806) 1,740
Net change in cash and cash equivalents 51,815 89,936
Cash and cash equivalents, beginning of period 106,181 133,961
Cash and cash equivalents, end of period 157,996 223,897
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid during the period for income taxes, net of refunds 78,868 91,774
Cash paid during the period for interest 136,541 94,541
Non-cash financing and investing activities:    
Accrued capital expenditures (245) 3,099
Landlord sponsored tenant incentives $ 7,385 $ 6,870