Income Taxes (Tables)

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Tax From Continuing Operations Provision for Income Tax Components Disclosure

Earnings before income taxes shown below are based on the geographic location to which such earnings are attributable.

Years ended June 30,	2024		2023		2022
Earnings before income taxes:
United States	$	4,408.0	$	4,091.4	$	3,461.8
Foreign	464.3		346.2		342.3
	$	4,872.3	$	4,437.6	$	3,804.1

Schedule of Components of Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes consists of the following components:

Years ended June 30,	2024		2023		2022
Current:
Federal	$	847.4	$	840.0	$	620.7
Foreign	132.8		104.6		97.5
State	177.5		161.1		100.4
Total current	1,157.7		1,105.7		818.6
Deferred:
Federal	(18.7)		(77.4)		20.7
Foreign	(6.6)		4.3		(12.9)
State	(12.1)		(7.0)		28.8
Total deferred	(37.4)		(80.1)		36.6
Total provision for income taxes	$	1,120.3	$	1,025.6	$	855.2

Reconciliation Between Federal Statutory Tax and Effective Tax Rate

A reconciliation between the Company's effective tax rate and the U.S. federal statutory rate is as follows:

Years ended June 30,	2024		%	2023		%	2022		%
Provision for taxes at U.S. statutory rate	$	1,023.2	21.0	$	931.9	21.0	$	798.9	21.0
Increase/(decrease) in provision from:
State taxes, net of federal tax benefit	120.6		2.5	111.2		2.5	91.8		2.4
Foreign rate differential	41.0		0.9	33.1		0.7	41.3		1.1
Excess tax benefit - Stock-based compensation	(17.1)		(0.4)	(19.0)		(0.4)	(19.9)		(0.5)
Other	(47.4)		(1.0)	(31.6)		(0.7)	(56.9)		(1.5)
	$	1,120.3	23.0	$	1,025.6	23.1	$	855.2	22.5

Components of Deferred Tax Assets and Liabilities

The significant components of deferred income tax assets and liabilities and their balance sheet classifications are as follows:

Years ended June 30,	2024		2023
Deferred tax assets:
Accrued expenses not currently deductible	$	237.4	$	209.5
Stock-based compensation expense	51.3		48.8
Foreign tax credits	12.0		13.3
Fixed and intangible assets	194.9		108.2
Net operating losses	41.7		37.5
Prepaid royalty	—		18.0
Unrealized investment losses, net	351.4		519.5
Other	39.1		39.9
	927.8		994.7
Less: valuation allowances	(11.1)		(18.6)
Deferred tax assets, net	$	916.7	$	976.1
Deferred tax liabilities:
Deferred contract costs	$	620.7	$	578.1
Prepaid expenses	88.8		78.9
Prepaid retirement benefits	40.3		30.8
Tax on unrepatriated earnings	10.2		10.1
Other	20.8		20.7
Deferred tax liabilities	780.8		718.6
Net deferred tax assets	$	135.9	$	257.5

Summary of Income Tax Contingencies

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:

	2024		2023		2022
Unrecognized tax benefits at beginning of the year	$	116.9	$	98.1	$	99.9
Additions for tax positions	17.2		11.3		8.0
Additions for tax positions of prior periods	17.8		16.8		11.6
Reductions for tax positions of prior periods	(12.8)		(5.0)		(8.5)
Settlement with tax authorities	(9.0)		(1.8)		(2.0)
Expiration of the statute of limitations	(2.9)		(1.0)		(9.2)
Impact of foreign exchange rate fluctuations	(0.3)		(1.5)		(1.7)
Unrecognized tax benefit at end of year	$	126.9	$	116.9	$	98.1

Summary of Income Tax Examinations

Examinations in progress in which the Company has significant business operations are as follows:

Taxing Jurisdiction	Fiscal Years under Examination
U.S. (IRS)	2023 - 2024
Arizona	2016 - 2020
Massachusetts	2016 - 2020
New York City	2016 - 2021
New York State	2019 - 2021
India	2014 - 2018, 2020 - 2022