Acquisition (Tables)

6 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Estimated Purchase Price, Net of Cash Acquired

The following table reconciles the purchase price to the cash paid for the acquisition, net of cash acquired:

Purchase price	$	1,173.1
Less: cash acquired	(12.5)
Cash paid for acquisition of business, net of cash acquired	$	1,160.6

Schedule of Preliminary Purchase Price Allocation

The preliminary purchase price allocation for WorkForce Software is as follows:

Cash	$	12.5
Accounts receivable, net of allowance for doubtful accounts	20.0
Identifiable intangible assets (1)	417.0
Goodwill	846.4
All other assets	21.9
Total assets acquired	$	1,317.8
Deferred revenue	$	39.6
Deferred income taxes	46.6
All other liabilities	58.5
Total liabilities assumed	$	144.7
Total net assets acquired	$	1,173.1

(1) Intangible assets are recorded at estimated fair value, as determined by management based on available information which includes an estimated valuation by an independent third-party. The fair values assigned to identifiable intangible assets were determined through the use of the income approach, specifically the relief from royalty and the multi-period excess earnings methods. The major assumptions used in arriving at the estimated identifiable intangible asset values included management’s estimates of future cash flows, discounted at an appropriate rate of return which are based on the weighted average cost of capital for both the Company and other market participants, projected customer attrition rates, as well as applicable royalty rates for comparable assets. The useful lives for intangible assets were determined based upon the remaining useful economic lives of the intangible assets that are expected to contribute directly or indirectly to the future cash flows. The estimated fair value of intangible assets and related useful lives as included in the estimated purchase price allocation include:

	Estimated Fair Value		Estimated Useful Life (in years)
Technology	$	200.0	7
Customer/Partner relationships	$	210.0	8
Tradename	$	7.0	4

Schedule of Components of Finite-Lived Intangible Assets

The estimated fair value of intangible assets and related useful lives as included in the estimated purchase price allocation include:

	Estimated Fair Value		Estimated Useful Life (in years)
Technology	$	200.0	7
Customer/Partner relationships	$	210.0	8
Tradename	$	7.0	4

Components of intangible assets, net, are as follows:

	December 31,		June 30,
	2024		2024
Intangible assets:
Software and software licenses	$	4,098.6	$	3,803.7
Customer contracts and lists	1,420.0		1,181.6
Other intangibles	249.3		242.0
	5,767.9		5,227.3
Less accumulated amortization:
Software and software licenses	(2,743.5)		(2,642.6)
Customer contracts and lists	(1,042.9)		(1,007.6)
Other intangibles	(242.4)		(241.1)
	(4,028.8)		(3,891.3)
Intangible assets, net	$	1,739.1	$	1,336.0