FINANCIAL STATEMENT COMPONENTS

12 Months Ended

Jun. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Consolidated Balance Sheets


	As of June 30,
(In thousands)	2020		2019
Accounts receivable, net:
Accounts receivable, gross	$	1,119,235	$	1,002,114
Allowance for doubtful accounts	(11,822)		(12,001)
	$	1,107,413	$	990,113
Inventories:
Customer service parts	$	338,608	$	328,515
Raw materials	478,594		444,627
Work-in-process	334,965		285,191
Finished goods	158,818		204,167
	$	1,310,985	$	1,262,500
Other current assets:
Contract assets	$	99,876	$	94,015
Deferred costs of revenue	77,219		70,721
Prepaid expenses	74,955		88,387
Prepaid income and other taxes	56,809		51,889
Other current assets	15,816		18,065
	$	324,675	$	323,077
Land, property and equipment, net:
Land	$	67,858	$	67,883
Buildings and leasehold improvements	405,238		402,678
Machinery and equipment	677,627		669,316
Office furniture and fixtures	29,964		28,282
Construction-in-process	93,736		26,029
	1,274,423		1,194,188
Less: accumulated depreciation	(754,599)		(745,389)
	$	519,824	$	448,799
Other non-current assets:
Executive Deferred Savings Plan	$	213,487	$	207,581
Operating lease right of use assets	100,790		—
Other non-current assets	48,702		58,392
	$	362,979	$	265,973
Other current liabilities:
Executive Deferred Savings Plan	$	215,167	$	208,926
Compensation and benefits	251,379		226,462
Other accrued expenses	183,435		202,647
Customer credits and advances	114,896		133,677
Income taxes payable	35,640		23,350
Interest payable	36,265		31,992
Operating lease liabilities	28,994		—
	$	865,776	$	827,054
Other non-current liabilities:
Pension liabilities	$	78,911	$	79,622
Income taxes payable	383,447		392,266
Operating lease liabilities	70,885		—
Other non-current liabilities	139,041		116,009
	$	672,284	$	587,897

Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) (“OCI”) as of the dates indicated below were as follows:


(In thousands)	Currency Translation Adjustments		Unrealized Gains (Losses) on Available-for-Sale Securities		Unrealized Gains (Losses) on Cash Flow Hedges		Unrealized Gains (Losses) on Defined Benefit Plans		Total
Balance as of June 30, 2020	$	(43,957)	$	3,683	$	(23,250)	$	(16,250)	$	(79,774)

Balance as of June 30, 2019	$	(44,041)	$	(1,616)	$	(8,725)	$	(18,647)	$	(73,029)

The effects on net income of amounts reclassified from accumulated OCI to the Consolidated Statements of Operations for the indicated periods were as follows (in thousands):


	Location in the Consolidated Statements of Operations	Year ended June 30,
Accumulated OCI Components				2020			2019
Unrealized gains (losses) on cash flow hedges from foreign exchange and interest rate contracts⁽¹⁾	Revenues	$	4,086		$	4,329
	Costs of revenues and operating expenses	(1,377)			(739)
	Interest expense	(637)			424
	Other expense (income), net	—			4
	Net gains reclassified from accumulated OCI	$	2,072		$	4,018

Unrealized gains (losses) on available-for-sale securities	Other expense (income), net	$	297		$	(1,294)

________________

(1)Reflects the adoption of the new accounting guidance for hedge accounting in the second quarter of fiscal year 2019. For additional details, refer to Note 17 “Derivative Instruments and Hedging Activities.”

The amounts reclassified out of accumulated OCI related to our defined benefit pension plans, which were recognized as a component of net periodic cost for the fiscal years ended June 30, 2020 and 2019 were $1.2 million and $1.1 million, respectively. For additional details, refer to Note 13 “Employee Benefit Plans.”

Consolidated Statements of Operations

The following table shows other expense (income), net for the indicated periods:


	Year ended June 30,
(In thousands)	2020		2019		2018
Other expense (income), net:
Interest income	$	(21,646)	$	(40,367)	$	(36,869)
Foreign exchange (gains) losses, net	4,236		(322)		708
Net realized losses (gains) on sale of investments	(297)		1,294		209
Other	20,385		7,933		5,470
	$	2,678	$	(31,462)	$	(30,482)