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CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY)
 12 Months Ended
Jun. 30, 2022
Condensed Financial Information Disclosure [Abstract]  
CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY) CONDENSED FINANCIAL INFORMATION OF REGISTRANT (PARENT COMPANY ONLY):
Paycor HCM, Inc. and Subsidiaries
Parent Company Only
Condensed Balance Sheets
(in thousands)
June 30,
2022		June 30,
2021
Assets
Cash and cash equivalents$5,000 $— 
Investment in subsidiary1,279,731 878,639 
Total assets
$1,284,731 $878,639 
Liabilities and Stockholders’ Equity
Total liabilities$— $— 
Total stockholders’ equity1,284,731 878,639 
Total liabilities and stockholders’ equity
$1,284,731 $878,639 

Paycor HCM, Inc. and Subsidiaries
Parent Company Only
Condensed Statements of Operations and Comprehensive Loss
(in thousands)
Fiscal Year Ended June 30,
202220212020
Equity in net loss of subsidiary$(119,638)$(96,920)$(90,193)
Net loss attributable to Paycor HCM, Inc.
$(119,638)$(96,920)$(90,193)
Other comprehensive (loss) income, net of tax:
Subsidiaries’ other comprehensive (loss) income$(2,980)$382 $104 
Total other comprehensive (loss) income(2,980)382 104 
Comprehensive loss attributable to Paycor HCM, Inc.
$(122,618)$(96,538)$(90,089)
Paycor HCM, Inc. and Subsidiaries
Parent Company Only
Condensed Statements of Cash Flows
(in thousands)
Fiscal Year Ended June 30,
June 30,
2022		June 30,
2021		June 30,
2020
Operating Activities:
  Net loss attributable to Paycor HCM, Inc.$(119,638)$(96,920)$(90,193)
  Adjustments to reconcile net loss to net cash provided by operating activities:
    Equity in net loss of subsidiaries119,638 96,920 90,193 
       Net cash provided by operating activities— — — 
Investing Activities:
       Net cash provided by investing activities— — — 
Financing Activities:
    Proceeds from issuance of preferred stock, net of offering costs— 262,772 — 
    Purchase of treasury stock at cost— (245,074)— 
    Proceeds from the issuance of common stock sold in IPO, net of offering costs and underwriting discount454,915 — — 
    Contributions to subsidiaries(453,102)(17,698)— 
    Proceeds from employee stock purchase plan3,187 — — 
       Net cash provided by financing activities5,000 — — 
Net increase in cash and cash equivalents5,000 — — 
Cash and cash equivalents-beginning of period— — — 
Cash and cash equivalents-end of period$5,000 $— $— 

 Description of Business
Paycor HCM, which is controlled by Pride Aggregator L.P., is the indirect controlling shareholder of Paycor. Pride Aggregator L.P. is controlled by a syndication led by Apax.
Paycor HCM was incorporated in Delaware in 2018 and became the ultimate parent of Paycor through the Apax Acquisition. Paycor HCM is a holding company and conducts substantially all of its activities through its subsidiaries and has no operations or significant assets or liabilities other than its investment in its subsidiaries, including Paycor. Accordingly, Paycor HCM is dependent upon distributions from Paycor and other subsidiaries to fund its limited, non-significant activities. However, Paycor’s ability to pay dividends or lend to Paycor HCM is limited under the terms of its 2021 Credit Agreement. All obligations under the 2021 Credit Agreement are guaranteed by Pride Guarantor, Inc. and by Paycor. The 2021 Credit Agreement contains covenants limiting Pride Guarantor, Inc.’s and its subsidiaries’, including Paycor, ability to, among other things: incur additional indebtedness or other contingent obligations; create liens; make investments, acquisitions, loans and advances; consolidate, merge, liquidate or dissolve; sell, transfer or otherwise dispose of its assets, including capital stock of its subsidiaries; pay dividends on its equity interests or make other payments in respect of capital stock; engage in transactions with affiliates; make payments in respect of subordinated debt; modify organizational documents in a manner that is materially adverse to the lenders under the applicable 2021 Credit Agreement; enter into certain agreements with negative pledge clauses. These covenants are subject to certain customary exceptions and qualifications as described in the 2021 Credit Agreement. For a discussion of the 2021 Credit Agreement, see Note 9 - “Debt Agreements and Letters of Credit.”
Basis of Presentation
These condensed financial statements have been presented on a “parent-only” basis. Under a parent-only presentation, Paycor HCM’s investments in subsidiaries are presented under the equity method of accounting. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. As such, these parent-only statements should be read in conjunction with the accompanying consolidated financial statements for the Company.