FINANCIAL STATEMENT COMPONENTS

6 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidated Balance Sheets


	As of		As of
(In thousands)	December 31, 2025		June 30, 2025
Accounts receivable, net:
Accounts receivable, gross	$	2,107,540	$	2,297,930
Allowance for credit losses	(33,959)		(34,015)
	$	2,073,581	$	2,263,915
Inventories:
Customer service parts	$	625,503	$	600,769
Raw materials	1,568,734		1,491,786
Work-in-process	836,166		833,933
Finished goods	252,202		285,661
	$	3,282,605	$	3,212,149
Other current assets:
Deferred costs of revenues	$	230,611	$	223,829
Prepaid expenses	154,399		201,053
Contract assets	93,117		105,081
Prepaid income and other taxes	60,370		64,704
Other current assets	161,658		133,435
	$	700,155	$	728,102
Land, property and equipment, net:
Land	$	86,665	$	86,677
Buildings and leasehold improvements	1,221,595		1,132,176
Machinery and equipment	1,337,606		1,238,599
Office furniture and fixtures	77,227		73,993
Construction-in-process	210,611		207,807
	2,933,704		2,739,252
Less: accumulated depreciation	(1,588,936)		(1,486,477)
	$	1,344,768	$	1,252,775
Other non-current assets:
Executive Deferred Savings Plan(1)	$	369,933	$	349,530
Operating lease right of use assets	294,427		269,714
Other non-current assets	164,567		154,370
	$	828,927	$	773,614
Other current liabilities:
Compensation and benefits	$	550,870	$	418,515
Executive Deferred Savings Plan(1)	371,201		350,426
Customer deposits	363,121		636,369
Interest payable	110,058		110,056
Income taxes payable	159,410		167,262
Operating lease liabilities	50,987		45,192
Other liabilities and accrued expenses	494,294		534,621
	$	2,099,941	$	2,262,441
Other non-current liabilities:
Income taxes payable	$	252,145	$	221,808
Operating lease liabilities	172,363		158,833
Pension liabilities	48,767		51,750
Customer deposits	7,467		6,823
Other non-current liabilities	181,928		170,418
	$	662,670	$	609,632

________________

(1)We have a non-qualified deferred compensation plan (known as the “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”) was $6.4 million and $3.3 million in the three months ended December 31, 2025 and 2024, respectively, and was $24.6 million and $21.3 million during the six months ended December 31, 2025 and 2024, respectively. The amount of net gains associated with changes in the EDSP assets included in SG&A expense was $6.2 million and $3.5 million in the three months ended December 31, 2025 and 2024, respectively, and was $24.4 million and $21.4 million during the six months ended December 31, 2025 and 2024, 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, 2025.

Accumulated Other Comprehensive Income (Loss)

The components of Accumulated Other Comprehensive Income (Loss) (“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, 2025	$	(53,978)	$	8,331	$	58,441	$	(11,834)	$	960

Balance as of June 30, 2025	$	(57,277)	$	5,792	$	64,798	$	(12,112)	$	1,201

The effects on net income of amounts reclassified from AOCI to the Condensed Consolidated Statements of Operations for the indicated periods were as follows (in thousands; amounts in parentheses indicate debits or reductions to earnings):


AOCI Components		Three Months Ended				Six Months Ended
	Location in the Condensed Consolidated Statement of Operations	December 31,				December 31,
		2025		2024		2025		2024
Unrealized gains on cash flow hedges from foreign exchange and interest rate contracts	Revenues	$	2,193	$	1,011	$	2,403	$	3,546
	Costs of revenues and operating expenses	9,216		428		20,460		454
	Interest expense	759		821		1,517		1,768

	Net gains reclassified from AOCI	$	12,168	$	2,260	$	24,380	$	5,768
Unrealized gains on available-for-sale securities	Other expense (income), net	$	215	$	1	$	312	$	—