Annual report pursuant to Section 13 and 15(d)

FINANCIAL STATEMENT COMPONENTS (Tables)

v3.20.2
FINANCIAL STATEMENT COMPONENTS (Tables)
12 Months Ended
Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Condensed Balance Sheet
Consolidated Balance Sheets
  As of June 30,
(In thousands) 2020 2019
Accounts receivable, net:
Accounts receivable, gross $ 1,119,235    $ 1,002,114   
Allowance for doubtful accounts (11,822)   (12,001)  
$ 1,107,413    $ 990,113   
Inventories:
Customer service parts $ 338,608    $ 328,515   
Raw materials 478,594    444,627   
Work-in-process 334,965    285,191   
Finished goods 158,818    204,167   
$ 1,310,985    $ 1,262,500   
Other current assets:
Contract assets $ 99,876    $ 94,015   
Deferred costs of revenue 77,219    70,721   
Prepaid expenses 74,955    88,387   
Prepaid income and other taxes 56,809    51,889   
Other current assets 15,816    18,065   
$ 324,675    $ 323,077   
Land, property and equipment, net:
Land $ 67,858    $ 67,883   
Buildings and leasehold improvements 405,238    402,678   
Machinery and equipment 677,627    669,316   
Office furniture and fixtures 29,964    28,282   
Construction-in-process 93,736    26,029   
1,274,423    1,194,188   
Less: accumulated depreciation (754,599)   (745,389)  
$ 519,824    $ 448,799   
Other non-current assets:
Executive Deferred Savings Plan $ 213,487    $ 207,581   
Operating lease right of use assets 100,790    —   
Other non-current assets 48,702    58,392   
$ 362,979    $ 265,973   
Other current liabilities:
Executive Deferred Savings Plan $ 215,167    $ 208,926   
Compensation and benefits 251,379    226,462   
Other accrued expenses 183,435    202,647   
Customer credits and advances 114,896    133,677   
Income taxes payable 35,640    23,350   
Interest payable 36,265    31,992   
Operating lease liabilities 28,994    —   
$ 865,776    $ 827,054   
Other non-current liabilities:
Pension liabilities $ 78,911    $ 79,622   
Income taxes payable 383,447    392,266   
Operating lease liabilities 70,885    —   
Other non-current liabilities 139,041    116,009   
$ 672,284    $ 587,897   
Schedule of 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, 2020 $ (43,957)   $ 3,683    $ (23,250)   $ (16,250)   $ (79,774)  
Balance as of June 30, 2019 $ (44,041)   $ (1,616)   $ (8,725)   $ (18,647)   $ (73,029)  
Reclassification out of Accumulated Other Comprehensive Income
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 2020 2019
Unrealized gains (losses) on cash flow hedges from foreign exchange and interest rate contracts(1)
Revenues $ 4,086    $ 4,329   
Costs of revenues and operating expenses (1,377)   (739)  
Interest expense (637)   424   
Other expense (income), net —     
Net gains reclassified from accumulated OCI $ 2,072    $ 4,018   
Unrealized gains (losses) on available-for-sale securities Other expense (income), net $ 297    $ (1,294)  
________________
(1)Reflects the adoption of the new accounting guidance for hedge accounting in the second quarter of fiscal year 2019. For additional details, refer to Note 17 “Derivative Instruments and Hedging Activities.”
Consolidated Statements of Operations
Consolidated Statements of Operations
The following table shows other expense (income), net for the indicated periods:
  Year ended June 30,
(In thousands) 2020 2019 2018
Other expense (income), net:
Interest income $ (21,646)   $ (40,367)   $ (36,869)  
Foreign exchange (gains) losses, net 4,236    (322)   708   
Net realized losses (gains) on sale of investments (297)   1,294    209   
Other 20,385    7,933    5,470   
$ 2,678    $ (31,462)   $ (30,482)