FINANCIAL STATEMENT COMPONENTS

6 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidated Balance Sheets


	As of		As of
(In thousands)	December 31, 2021		June 30, 2021
Accounts receivable, net:
Accounts receivable, gross	$	1,747,734	$	1,323,515
Allowance for credit losses	(19,358)		(18,036)
	$	1,728,376	$	1,305,479
Inventories:
Customer service parts	$	371,341	$	349,743
Raw materials	786,744		595,151
Work-in-process	427,972		453,432
Finished goods	243,355		177,054
	$	1,829,412	$	1,575,380
Other current assets:
Contract assets	$	96,676	$	91,052
Deferred costs of revenues	83,153		59,953
Prepaid expenses	78,064		76,649
Prepaid income and other taxes	37,731		68,847
Other current assets	37,602		24,366
	$	333,226	$	320,867
Land, property and equipment, net:
Land	$	67,862	$	67,862
Buildings and leasehold improvements	469,025		458,605
Machinery and equipment	756,921		743,710
Office furniture and fixtures	33,067		32,856
Construction-in-process	236,543		182,320
	1,563,418		1,485,353
Less: accumulated depreciation	(846,240)		(822,326)
	$	717,178	$	663,027
Other non-current assets:
Executive Deferred Savings Plan(1)	$	274,529	$	266,199

Operating lease right of use assets	97,836		102,883
Other non-current assets	78,580		75,823
	$	450,945	$	444,905
Other current liabilities:
Compensation and benefits	$	500,301	$	305,445
Customer credits and advances	482,991		250,784
Executive Deferred Savings Plan(1)	274,508		268,028
Other accrued expenses	184,347		180,982

Income taxes payable	125,535		87,320
Interest payable	35,970		36,135
Operating lease liabilities	32,467		32,322
	$	1,636,119	$	1,161,016
Other non-current liabilities:
Income taxes payable	$	340,890	$	333,866
Pension liabilities	85,677		87,602
Operating lease liabilities	62,553		70,739
Other non-current liabilities	161,693		139,083
	$	650,813	$	631,290

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(1)We have a non-qualified deferred compensation plan (known as “Executive Deferred Savings Plan” or “EDSP”) under which certain employees and non-employee directors may defer a portion of their compensation. The expense associated with changes in the EDSP liability included in selling, general and administrative (“SG&A”) expense was $12.0 million and $22.1 million during the three months ended December 31, 2021 and 2020, respectively and was $11.0 million and $35.3 million during the six months ended December 31, 2021 and 2020, respectively. The amount of net gains associated with changes in the EDSP assets included in SG&A expense was $11.8 million and $22.2 million during the three months ended December 31, 2021 and 2020, respectively and was $10.7 million and $35.5 million during the six months ended December 31, 2021 and 2020, respectively. For additional details, refer to Note 1 “Description of Business and Summary of Significant Accounting Policies” to our Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2021.

Accumulated Other Comprehensive Income (Loss) (“AOCI”)

The components of AOCI 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 Derivatives		Unrealized Gains (Losses) on Defined Benefit Plans		Total
Balance as of December 31, 2021	$	(36,314)	$	(2,223)	$	(15,653)	$	(22,289)	$	(76,479)

Balance as of June 30, 2021	$	(32,563)	$	595	$	(20,092)	$	(23,497)	$	(75,557)

The effects on net income (loss) of amounts reclassified from AOCI to the Condensed Consolidated Statements of Operations for the indicated period were as follows (in thousands):


AOCI Components		Three Months Ended				Six Months Ended
	Location in the Condensed Consolidated	December 31,				December 31,
	Statement of Operations	2021		2020		2021		2020
Unrealized gains (losses) on cash flow hedges from foreign exchange and interest rate contracts	Revenues	$	1,539	$	(711)	$	3,268	$	(928)
	Costs of revenues and operating expenses	(348)		(125)		(580)		425
	Interest expense	(279)		(279)		(558)		(558)

	Net gains (losses) reclassified from AOCI	$	912	$	(1,115)	$	2,130	$	(1,061)
Unrealized gains (losses) on available-for-sale securities	Other expense (income), net	$	(3)	$	111	$	(2)	$	212

The amounts reclassified out of AOCI related to our defined benefit pension plans that were recognized as a component of net periodic cost for the three months ended December 31, 2021 and 2020 were $0.4 million and $0.3 million, respectively and for the six months ended December 31, 2021 and 2020 were $0.7 million and $0.5 million, respectively. For additional details, refer to Note 13 “Employee Benefit Plans” to our Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2021.