Funds Held for Customers (Tables)

3 Months Ended

Sep. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Summary of Funds Held For Customers

Funds held for customers consisted of the following as of the dates presented (in thousands):

	September 30,			June 30,
	2021			2021
Restricted cash and other receivables	$	1,357,620		$	1,208,598
Restricted cash equivalents		57,964			86,322
Corporate bonds		575,327			516,350
Certificates of deposit		385,097			326,927
Municipal bonds		14,726			42,957
Asset backed securities		35,712			25,085
U.S. treasury securities		6,113			3,009
Total funds held for customers		2,432,559			2,209,248
Less - income earned by the Company    included in other current assets		(38	)		(650	)
Total funds held for customers, net    of income earned by the Company	$	2,432,521		$	2,208,598

Summary of Fair Value of Funds Held For Customers Invested In Short Term Marketable Debt Securities

Below is a summary of the fair value of funds held for customers that were invested in short-term marketable debt securities as of the dates presented (in thousands):

	September 30, 2021
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
Corporate bonds	$	575,354	$	23	$	(50	)	$	575,327
Certificates of deposit		385,097		—		—			385,097
Municipal bonds		14,724		2		—			14,726
Asset backed securities		35,709		5		(2	)		35,712
U.S. treasury securities		6,113		—		—			6,113
Total	$	1,016,997	$	30	$	(52	)	$	1,016,975

	June 30, 2021
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
Corporate bonds	$	516,364	$	24	$	(38	)	$	516,350
Certificates of deposit		326,927		—		—			326,927
Municipal bonds		42,952		5		—			42,957
Asset backed securities		25,081		4		—			25,085
U.S. treasury securities		3,010		—		(1	)		3,009
Total	$	914,334	$	33	$	(39	)	$	914,328

Summary of Gross Unrealized Losses And Fair Values

As of September 30, 2021, approximately 90 of the more than 300 investment positions were in an unrealized loss position. The following tables present gross unrealized losses and fair values for those investments that were in an unrealized loss position as of the dates presented (in thousands):

	September 30, 2021
	Fair value		Unrealized losses
Corporate bonds	$	113,924	$	(50	)
Asset backed securities		15,335		(2	)
Total	$	129,259	$	(52	)

	June 30, 2021
	Fair value		Unrealized losses
Corporate bonds	$	79,359	$	(38	)
U.S. treasury securities		2,501		(1	)
Total	$	81,860	$	(39	)