Annual report pursuant to Section 13 and 15(d)

Financial Statement Components

v3.7.0.1
Financial Statement Components
12 Months Ended
Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
FINANCIAL STATEMENT COMPONENTS
NOTE 3 — FINANCIAL STATEMENT COMPONENTS
Consolidated Balance Sheets
 
As of June 30,
(In thousands)
2017
 
2016
Accounts receivable, net:
 
 
 
Accounts receivable, gross
$
592,753

 
$
634,905

Allowance for doubtful accounts
(21,636
)
 
(21,672
)
 
$
571,117

 
$
613,233

Inventories:
 
 
 
Customer service parts
$
245,172

 
$
234,712

Raw materials
240,389

 
208,689

Work-in-process
193,026

 
187,733

Finished goods
54,401

 
67,501

 
$
732,988

 
$
698,635

Other current assets:
 
 
 
Prepaid expenses
$
36,146

 
$
37,127

Income tax related receivables
22,071

 
18,190

Other current assets
13,004

 
9,553

 
$
71,221

 
$
64,870

Land, property and equipment, net:
 
 
 
Land
$
40,617

 
$
40,603

Buildings and leasehold improvements
319,306

 
313,239

Machinery and equipment
551,277

 
507,378

Office furniture and fixtures
21,328

 
21,737

Construction-in-process
4,597

 
5,286

 
937,125

 
888,243

Less: accumulated depreciation and amortization
(653,150
)
 
(610,229
)
 
$
283,975

 
$
278,014

Other non-current assets:
 
 
 
Executive Deferred Savings Plan
$
182,150

 
$
162,160

Other non-current assets
13,526

 
12,499

 
$
195,676

 
$
174,659

Other current liabilities:
 
 
 
Executive Deferred Savings Plan
$
183,603

 
$
162,289

Compensation and benefits
172,707

 
224,496

Customer credits and advances
95,188

 
81,994

Interest payable
19,396

 
19,395

Warranty
45,458

 
34,773

Income taxes payable
17,040

 
27,964

Other accrued expenses
116,039

 
111,297

 
$
649,431

 
$
662,208

Other non-current liabilities:
 
 
 
Pension liabilities
$
72,801

 
$
69,418

Income taxes payable
68,439

 
50,365

Other non-current liabilities
31,167

 
36,840

 
$
172,407

 
$
156,623




Accumulated Other Comprehensive Income (Loss)
The components of accumulated other comprehensive income (loss) (“OCI”) as of the dates indicated below were as follows:
(In thousands)
Currency Translation Adjustments
 
Unrealized Gains (Losses) on Available-for-Sale Securities
 
Unrealized Gains (Losses) on Cash Flow Hedges
 
Unrealized Gains (Losses) on Defined Benefit Plans
 
Total
Balance as of June 30, 2017
$
(30,654
)
 
$
(3,869
)
 
$
5,221

 
$
(22,021
)
 
$
(51,323
)
 
 
 
 
 
 
 
 
 
 
Balance as of June 30, 2016
$
(32,424
)
 
$
3,451

 
$
775

 
$
(20,487
)
 
$
(48,685
)
 
 
 
 
 
 
 
 
 
 

The effects on net income of amounts reclassified from accumulated OCI to the Consolidated Statements of Operations for the indicated periods were as follows (in thousands):
 
 
Location in the Consolidated Statements of Operations
 
Year ended June 30,
Accumulated OCI Components
 
 
2017
 
2016
Unrealized gains (losses) on cash flow hedges from foreign exchange and interest rate contracts
 
Revenues
 
$
2,846

 
$
(2,926
)
 
 
Costs of revenues
 
(378
)
 
(1,551
)
 
 
Interest expense
 
754

 
755

 
 
Net gains reclassified from accumulated OCI
 
$
3,222

 
$
(3,722
)
 
 
 
 
 
 
 
Unrealized gains (losses) on available-for-sale securities
 
Other expense (income), net
 
$
191

 
$
312


The amounts reclassified out of accumulated OCI related to the Company’s defined benefit pension plans, which were recognized as a component of net periodic cost for the fiscal years ended June 30, 2017 and 2016 were $1.9 million and $1.4 million, respectively. For additional details, refer to Note 11, “Employee Benefit Plans.”
Consolidated Statements of Operations
 
Year ended June 30,
(In thousands)
2017
 
2016
 
2015
Other expense (income), net:
 
 
 
 
 
Interest income
$
(23,270
)
 
$
(14,507
)
 
$
(12,545
)
Foreign exchange losses, net
641

 
1,235

 
1,764

Net realized gains on sale of investments
(191
)
 
(311
)
 
(2,119
)
Other
3,359

 
(7,051
)
 
2,431

 
$
(19,461
)
 
$
(20,634
)
 
$
(10,469
)