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Other Balance Sheet Accounts
 12 Months Ended
Jun. 30, 2022
Subclassifications of assets, liabilities and equities [abstract]  
Other Balance Sheet Accounts Other Balance Sheet Accounts
Cash and cash equivalents
Cash and cash equivalents consisted of the following:
As of June 30,
 20222021
 (U.S. $ in thousands)
Cash and bank deposits$820,959 $739,042 
Amounts due from third-party credit card processors9,059 5,272 
Money market funds555,247 20,966 
Commercial paper— 149,347 
Agency securities— 4,600 
Total cash and cash equivalents$1,385,265 $919,227 
The majority of the Group’s cash and cash equivalents are held in bank deposits, money market funds and short-term investments which have a maturity of three months or less to enable us to meet our short-term liquidity requirements. Money market funds are quoted in active markets and are subject to insignificant risk of changes in value. The Group only purchases investment grade securities rated A- and above, which are highly liquid and subject to insignificant risk of changes in value.
Prepaid expenses and other current assets
Prepaid expenses and other current assets consisted of the following:
As of June 30,
 20222021
 (U.S. $ in thousands)
Prepaid expenses$40,384 $33,923 
Deferred commission8,806 3,226 
Accrued interest income on short-term investments621 1,411 
Other receivables3,746 6,149 
Other current assets4,520 3,613 
Total prepaid expenses and other current assets$58,077 $48,322 
Assets held for sale
During the fourth quarter of the fiscal year ended June 30, 2021, the Group committed to a plan to sell a controlling interest of our subsidiary, Vertical First Trust (“VFT”), which was established for the construction project associated with the Australian HQ Property. In July 2021, the Group entered into a term sheet with a buyer to effect the sale. The term sheet provides a framework for the buyer to invest in and develop the Australian HQ Property. In March 2022, the Group entered into a series of agreements with the buyer, including the Agreement for Lease. As part of the contemplated transactions and subject to certain contingencies, the buyer was to take control of VFT and construct the Australian HQ Property. The Group will retain a minority equity interest in Vertical First Trust. On July 20, 2022, the Group completed a non-cash sale of a controlling interest of VFT to the buyer as part of the contemplated transactions, please refer to Note 23, “Events after the reporting period,” for details.
The assets were presented as held for sale in the consolidated statements of financial position as of June 30, 2022 and 2021 measured at the lower of carrying value or fair value less cost to sell.
The major assets classified as held for sale at June 30, 2022 and 2021 and were as follows:
As of
June 30, 2022June 30, 2021
(U.S. $ in thousands)
Cash and cash equivalents$2,701 $9,317 
Property and equipment, net$57,482 $34,092 
The following table sets forth the carrying amounts of property and equipment, net in assets held for sale and the movements during the fiscal year ended June 30, 2022:
Fiscal Year Ended June 30, 2022
(U.S. $ in thousands)
Balance at the beginning of period$34,092 
Additions26,899 
Effect of change in exchange rates(3,509)
Balance at the end of period$57,482 
Other non-current assets
Other non-current assets consisted of the following:
As of June 30,
 20222021
 (U.S. $ in thousands)
Security deposits$948 $4,267 
Restricted cash1,422 11,795 
Derivative assets30,367 3,147 
Deferred commission18,335 5,785 
Other9,668 12,642 
Total other non-current assets$60,740 $37,636 
As of June 30, 2022 and 2021, the Group’s restricted cash was primarily used for the benefit of employees through a deferred compensation plan and for commitments of standby letters of credit related to facility leases and was not available for the Group’s use in its operations, respectively. As of June 30, 2021, the Group had certificates of deposit and time deposits totaling $2.6 million, which were classified as long-term and were included in security deposits.
Trade and other payables
Trade and other payables consisted of the following:
As of June 30,
 20222021
 (U.S. $ in thousands)
Trade payables$67,355 $40,366 
Accrued expenses161,599 101,940 
Accrued bonus126,687 91,894 
Value-added tax payables14,887 10,152 
Current portion of contingent consideration1,500 6,896 
Customer deposits9,718 8,832 
Liabilities held for sale17,564 949 
Other payables5,598 5,468 
Total trade and other payables$404,908 $266,497 
Current provisions
Current provisions consisted of the following:
As of June 30,
 20222021
 (U.S. $ in thousands)
Employee benefits$32,796 $24,690 
Dilapidation provision— 458 
Total current provisions$32,796 $25,148 
Current provisions for employee benefits include accrued annual leave, long service leave and retention benefits. Long service leave covers all unconditional entitlements where employees have completed the required period of service and those where employees are entitled to pro rata payments.
The dilapidation provision relates to certain lease arrangements for office space entered into by the Group. These lease arrangements require the Group to restore each premises to its original condition upon lease termination. Accordingly, the Group records a provision for the present value of the estimated future costs to retire lease related assets at the expiration of these leases.
Non-current provisions
Non-current provisions consisted of the following:
As of June 30,
 20222021
 (U.S. $ in thousands)
Employee benefits$8,630 $7,255 
Dilapidation provision5,174 5,180 
Total non-current provisions$13,804 $12,435 
The non-current provision for employee benefits includes long service leave and retention benefits as described above. The dilapidation provision relates to certain lease arrangements for office space entered into by the Group as described above.