FINANCIAL STATEMENT COMPONENTS

3 Months Ended

Sep. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidated Balance Sheets


	As of		As of
(In thousands)	September 30, 2022		June 30, 2022
Accounts receivable, net:
Accounts receivable, gross	$	1,884,328	$	1,832,508
Allowance for credit losses	(27,008)		(20,631)
	$	1,857,320	$	1,811,877
Inventories:
Customer service parts	$	422,983	$	402,121
Raw materials	1,183,244		1,042,916
Work-in-process	527,359		451,782
Finished goods	274,739		250,070
	$	2,408,325	$	2,146,889
Other current assets:
Deferred costs of revenues	$	117,341	$	124,487
Contract assets	114,086		114,747
Prepaid expenses	100,027		108,942
Prepaid income and other taxes	31,009		89,713
Other current assets	62,311		64,248
	$	424,774	$	502,137
Land, property and equipment, net:
Land	$	72,288	$	67,846
Buildings and leasehold improvements	728,948		712,751
Machinery and equipment	805,466		819,191
Office furniture and fixtures	46,213		44,957
Construction-in-process	150,974		110,079
	1,803,889		1,754,824
Less: accumulated depreciation	(890,887)		(904,895)
	$	913,002	$	849,929
Other non-current assets:
Executive Deferred Savings Plan(1)	$	213,824	$	224,188

Operating lease right of use assets	125,986		126,444
Other non-current assets	154,221		133,980
	$	494,031	$	484,612
Other current liabilities:
Customer credits and advances	$	579,767	$	515,118
Compensation and benefits	441,671		351,924
Income taxes payable	278,400		126,964
Other accrued expenses	245,476		253,265

Executive Deferred Savings Plan(1)	215,193		225,867
Interest payable	65,140		39,683
Operating lease liabilities	30,701		32,218
	$	1,856,348	$	1,545,039
Other non-current liabilities:
Customer credits and advances	$	304,396	$	204,914
Income taxes payable	300,461		367,052
Operating lease liabilities	79,789		81,369
Pension liabilities	73,426		78,525
Other non-current liabilities	123,700		150,782
	$	881,772	$	882,642

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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 benefit associated with changes in the EDSP liability included in selling, general and administrative (“SG&A”) expense was $10.3 million and $1.0 million during the three months ended September 30, 2022 and 2021, respectively. The amount of net losses associated with changes in the EDSP assets included in SG&A expense was $10.3 million and $1.1 million during the three months ended September 30, 2022 and 2021, 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, 2022.

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 September 30, 2022	$	(63,598)	$	(20,816)	$	49,617	$	(24,044)	$	(58,841)

Balance as of June 30, 2022	$	(43,886)	$	(15,486)	$	56,836	$	(24,935)	$	(27,471)

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
		September 30,
	Location in the Condensed Consolidated Statement of Operations	2022		2021
Unrealized gains (losses) on cash flow hedges from foreign exchange and interest rate contracts	Revenues	$	14,605	$	1,729
	Costs of revenues and operating expenses	(5,367)		(232)
	Interest expense	937		(279)

	Net gains reclassified from AOCI	$	10,175	$	1,218
Unrealized gains (losses) on available-for-sale securities	Other expense (income), net	$	(174)	$	1

The amount reclassified out of AOCI related to our defined benefit pension plans that was recognized as a component of net periodic cost for the three months ended September 30, 2022 and 2021 was $0.4 million in both periods. 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, 2022.