Income Taxes (Tables)

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Earnings (Losses) Before Income Taxes

The components of earnings (loss) before income taxes by jurisdiction were as follows ($000):

Year Ended June 30,	2024		2023		2022
U.S. loss	$	(540,048)	$	(450,370)	$	(62,721)
Non-U.S. income	392,401		94,812		344,528
Earnings (loss) before income taxes	$	(147,647)	$	(355,558)	$	281,807

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax expense (benefit) were as follows ($000):

Year Ended June 30,	2024		2023		2022
Current:
Federal	$	10,119	$	5	$	1,569
State	181		3,867		768
Foreign	103,640		106,850		52,865
Total Current	113,940		110,722		55,202
Deferred:
Federal	(68,955)		(106,044)		(7,185)
State	(186)		(7,151)		(1,215)
Foreign	(33,682)		(93,627)		246
Total Deferred	(102,823)		(206,822)		(8,154)
Total Income Tax Expense (Benefit)	$	11,117	$	(96,100)	$	47,048

Schedule of Principal Items Comprising Deferred Income Tax Assets and Liabilities

Principal items comprising deferred tax assets and liabilities were as follows ($000):

June 30,	2024		2023
Deferred income tax assets
Inventory capitalization	$	62,242	$	60,232
Non-deductible accruals	16,770		18,423
Accrued employee benefits	38,460		40,292
Net-operating loss and credit carryforwards	268,735		234,546
Share-based compensation expense	15,947		16,729
Other	1,346		9,256
Research and development capitalization	128,291		85,473
Deferred revenue	14,839		11,415
Right of use asset	47,712		42,688
Valuation allowances	(154,830)		(97,180)
Total deferred income tax assets	439,512		421,874
Deferred income tax liabilities
Tax over book accumulated depreciation	(29,065)		(56,742)
Intangible assets	(905,435)		(988,580)
Interest rate swap	(4,104)		(8,522)
Interest rate cap	(11,465)		(10,734)
Tax on unremitted earnings	(61,719)		(51,672)
Outside basis differences	(122,423)		—
Lease liability	(46,198)		(41,426)
Other	(2,511)		(6,757)
Total deferred income tax liabilities	(1,182,920)		(1,164,433)
Net deferred income taxes	$	(743,408)	$	(742,559)

Schedule of Reconciliation of Income Tax Expense

The reconciliation of income tax expense at the statutory U.S. federal rate to the reported income tax expense (benefit) is as follows ($000):

Year Ended June 30,	2024		%	2023		%	2022		%
Taxes at statutory rate	$	(31,006)	21	$	(74,667)	21	$	59,179	21
Increase (decrease) in taxes resulting from:
State income taxes-net of federal benefit	(22)		—	(2,548)		1	(339)		—
Taxes on non U.S. earnings	16,601		(11)	191		—	(2,704)		(1)
Valuation allowance	43,866		(30)	3,836		(1)	(1,513)		(1)
U.S. Branch Income	3,226		(2)	2,037		(1)	1,230		1
Noncontrolling interest	1,002		(1)	—		—	—		—
Research and manufacturing incentive deductions and credits	(41,387)		28	(29,416)		8	(24,341)		(9)
Stock compensation	13,294		(9)	18,661		(5)	2,095		1
GILTI and FDII	(629)		—	(7,195)		2	4,866		2
Other	6,172		(4)	(6,999)		2	8,575		3
	$	11,117	(8)	$	(96,100)	27	$	47,048	17

Schedule of Gross Operating Loss Carryforwards and Tax Credit Carryforwards

The Company has the following gross operating loss carryforwards and tax credit carryforwards as of June 30, 2024 ($000):

Type	Amount		Expiration Date
Tax credit carryforwards:
Federal research and development credits	$	138,723	June 2029-June 2044
Foreign tax credits	—
State tax credits	21,420		June 2025-June 2039
State tax credits (indefinite)	79,179		Indefinite
Operating loss carryforwards:
Loss carryforwards - federal	$	36,014	June 2025-June 2036
Loss carryforwards - federal (indefinite)	1,968		Indefinite
Loss carryforwards - state	324,702		June 2025-June 2044
Loss carryforwards - state (indefinite)	36,719		Indefinite
Loss carryforwards - foreign	70,666		June 2025-June 2033
Loss carryforwards - foreign (indefinite)	152,336		Indefinite

Schedule of Changes in Liability for Unrecognized Tax Benefits

Changes in the liability for unrecognized tax benefits for the fiscal years ended June 30, 2024, 2023 and 2022 were as follows ($000):

Year Ended June 30,	2024		2023		2022
Beginning balance	$	115,180	$	37,411	$	38,025
Increases in current year tax positions	5,168		110		1,803
Acquired business	—		86,077		—
Settlements	(2,970)		—		—
Expiration of statute of limitations	(681)		(8,418)		(2,417)
Ending balance	$	116,697	$	115,180	$	37,411