Accounts Receivable

12 Months Ended

Jun. 30, 2022

Accounts Receivable

Accounts Receivable

Note 4. Accounts Receivable

Accounts receivable consisted of the following components at June 30, 2022 and 2021:

	June 30,		June 30,
(In thousands)	2022		2021
Gross accounts receivable	$	199,242	$	239,271
Less: Chargebacks reserve		(54,501)		(69,564)
Less: Rebates reserve		(26,921)		(16,272)
Less: Returns reserve		(46,478)		(38,395)
Less: Other deductions		(14,117)		(15,505)
Less: Allowance for doubtful accounts		(984)		(701)
Accounts receivable, net	$	56,241	$	98,834

For the fiscal year ended June 30, 2022, the Company recorded a provision for chargebacks, rebates, returns and other deductions of $437.7 million, $98.4 million, $33.3 million and $45.2 million, respectively. For the fiscal year ended June 30, 2021, the Company recorded a provision for chargebacks, rebates, returns and other deductions of $650.3 million, $133.9 million, $20.3 million and $68.2 million, respectively. For the fiscal year ended June 30, 2020, the Company recorded a provision for chargebacks, rebates, returns and other deductions of $761.8 million, $223.9 million, $16.9 million and $88.5 million, respectively.

The following table identifies the activity and ending balances of each major category of revenue-related reserve for fiscal years 2022, 2021 and 2020:

Reserve Category
(In thousands)	Chargebacks		Rebates		Returns		Other		Total
Balance at June 30, 2019	$	89,567		78,274		55,554		18,128		241,523
Current period provision		761,787		223,932		16,863		88,468		1,091,050
Credits issued during the period		(789,477)		(239,495)		(31,621)		(89,039)		(1,149,632)
Balance at June 30, 2020		61,877		62,711		40,796		17,557		182,941
Current period provision		650,317		133,898		20,280		68,177		872,672
Credits issued during the period		(642,630)		(161,312)		(22,681)		(70,229)		(896,852)
Balance at June 30, 2021		69,564		35,297		38,395		15,505		158,761
Current period provision		437,680		98,379		33,258		45,200		614,517
Credits issued during the period		(452,743)		(85,187)		(25,175)		(46,588)		(609,693)
Balance at June 30, 2022	$	54,501	$	48,489	$	46,478	$	14,117	$	163,585

For the fiscal years ended June 30, 2022, 2021 and 2020, as a percentage of gross sales the provision for chargebacks was 46.4%, 48.9% and 47.2%, respectively, the provision for rebates was 10.4%, 10.1% and 13.9%, respectively, the provision for returns was 3.5%, 1.5% and 1.0%, respectively and the provision for other adjustments was 4.8%, 5.1% and 5.5%, respectively.

Overall reserves increased primarily as a result of the timing of rebate payments as well as higher than average returns in recent periods for certain products in the endocrinology medical indication category. The increase was partially offset by lower net sales in the three months ended June 30, 2022 as compared to the three months ended June 30, 2021.