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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
Net revenue $ 1,116,898 $ 864,500 $ 3,100,936 $ 2,663,390
Cost of sales (exclusive of amortization shown separately below) 490,824 362,321 1,340,660 1,128,314
Amortization of acquired intangible assets 8,322 10,982 22,001 33,271
Total cost of sales 499,146 373,303 1,362,661 1,161,585
Gross profit 617,752 491,197 1,738,275 1,501,805
Operating Expenses        
Selling, general, and administrative 228,457 182,401 633,317 544,483
Research and development 76,436 66,801 209,498 189,258
Amortization of acquired intangible assets 12,188 7,730 29,701 23,175
Acquisition related expenses 0 0 9,157 0
Total operating expenses 317,081 256,932 881,673 756,916
Income from operations 300,671 234,265 856,602 744,889
Other income (loss), net:        
Interest (expense) income, net (14,964) (5,462) (32,436) (16,770)
Loss attributable to equity method investments (note 5) (183) (2,627) (5,037) (5,927)
Gain (loss) on equity investments (note 5) 6,418 (1,735) 11,506 (527)
Other, net (2,564) 1,878 (5,773) 729
Total other income (loss), net (11,293) (7,946) (31,740) (22,495)
Income before income taxes 289,378 226,319 824,862 722,394
Income taxes 56,878 47,307 156,970 138,018
Net income $ 232,500 $ 179,012 $ 667,892 $ 584,376
Basic earnings per share (dollars per share) $ 1.58 $ 1.22 $ 4.55 $ 4.00
Diluted earnings per share (dollars per share) 1.58 1.22 4.53 3.97
Dividend declared per share (dollars per share) $ 0.44 $ 0.42 $ 1.32 $ 1.26
Basic shares outstanding (000's) (shares) 146,914 146,240 146,681 145,969
Diluted shares outstanding (000's) (shares) 147,395 146,962 147,400 147,034
Total Sleep and Respiratory Care        
Net revenue $ 980,116 $ 763,358 $ 2,741,541 $ 2,365,697
Cost of sales (exclusive of amortization shown separately below) 443,925 324,618 1,214,072 1,017,494
Amortization of acquired intangible assets 1,367 1,071 3,939 3,043
Software as a Service        
Net revenue 136,782 101,142 359,395 297,693
Cost of sales (exclusive of amortization shown separately below) 46,899 37,703 126,588 110,820
Amortization of acquired intangible assets $ 6,955 $ 9,911 $ 18,062 $ 30,228