Broadridge Financial Solutions (BR) 10-Q 8 Nov 17 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Fag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	BR
Entity Registrant Name	BROADRIDGE FINANCIAL SOLUTIONS, INC.
Entity Central Index Key	1,383,312
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		116,552,497

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Revenues	$ 924.8	$ 895.3
Operating expenses:
Cost of revenues	726.6	717.9
Selling, general and administrative expenses	113.8	111.3
Total operating expenses	840.3	829.3
Operating income	84.4	66
Interest expense, net	9.4	10.4
Other non-operating (income) expenses, net	0.7	4.2
Earnings before income taxes	74.3	51.5
Provision for income taxes	24.4	17.9
Net earnings	$ 49.9	$ 33.7
Basic earnings per share (in dollars per share)	$ 0.43	$ 0.28
Diluted earnings per share (in dollars per share)	$ 0.42	$ 0.28
Weighted-average shares outstanding:
Basic (in shares)	116.5	118.5
Diluted (in shares)	119.8	121.6
Dividends declared per common share (in dollars per share)	$ 0.365	$ 0.33

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net earnings	$ 49.9	$ 33.7
Other comprehensive income (loss), net:
Foreign currency translation adjustments	18.3	(11.3)
Net unrealized gains (losses) on available-for-sale securities, net of taxes of $(0.2) and $(0.3) for the three months ended September 30, 2017 and 2016, respectively	0.3	0.5
Pension and post-retirement liability adjustment, net of taxes of $(0.1) and $(0.1) for the three months ended September 30, 2017 and 2016, respectively	0.2	0.1
Total other comprehensive income (loss), net	18.8	(10.7)
Comprehensive income	$ 68.7	$ 23

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Unrealized gains (loss) on available-for-sale securities, tax	$ (0.2)	$ (0.3)
Pension and post-retirement liability adjustments, tax	$ (0.1)	$ (0.1)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2017	Jun. 30, 2017
Current assets:
Cash and cash equivalents	$ 288.8	$ 271.1
Accounts receivable, net of allowance for doubtful accounts of $4.8 and $3.7, respectively	624.4	589.5
Other current assets	121.2	129
Total current assets	1,034.3	989.6
Property, plant and equipment, net	207.6	198.1
Goodwill	1,177.3	1,159.3
Intangible assets, net	469.9	486.4
Other non-current assets	335.5	316.4
Total assets	3,224.5	3,149.8
Current liabilities:
Accounts payable	157.3	167.2
Accrued expenses and other current liabilities	331	495.3
Deferred revenues	121.1	82.4
Total current liabilities	609.4	744.9
Long-term debt	1,292.4	1,102.1
Deferred taxes	58.2
Deferred taxes		82
Deferred revenues	75.4	74.3
Other non-current liabilities	151.1	142.7
Total liabilities	2,186.6	2,146
Commitments and contingencies
Stockholders’ equity:
Preferred stock: Authorized, 25.0 shares; issued and outstanding, none	0	0
Common stock, $0.01 par value: 650.0 shares authorized; 154.5 and 154.5 shares issued, respectively; and 116.5 and 116.5 shares outstanding, respectively	1.6	1.6
Additional paid-in capital	995.7	987.6
Retained earnings	1,477	1,469.4
Treasury stock, at cost: 37.9 and 38.0 shares, respectively	(1,399.3)	(1,398.9)
Accumulated other comprehensive loss	(37.1)	(55.8)
Total stockholders’ equity	1,037.9	1,003.8
Total liabilities and stockholders’ equity	$ 3,224.5	$ 3,149.8

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2017	Jun. 30, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 4.8	$ 3.7
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	650,000,000	650,000,000
Common stock, shares issued (in shares)	154,500,000	154,500,000
Common stock, shares outstanding (in shares)	116,500,000	116,500,000
Treasury stock, shares (in shares)	37,900,000	38,000,000

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows From Operating Activities
Net earnings	$ 49.9	$ 33.7
Adjustments to reconcile Net earnings to Net cash flows provided by operating activities:
Depreciation and amortization	19.4	17.5
Amortization of acquired intangibles and purchased intellectual property	19.4	12.8
Amortization of other assets	11.1	9.5
Stock-based compensation expense	8.5	8.8
Deferred income taxes	(5.1)	(7.8)
Excess tax benefits from stock-based compensation awards		(20.9)
Other	(2.1)	0.2
Current assets and liabilities:
Decrease (increase) in Accounts receivable, net	(32.1)	44.4
Increase in Other current assets	(18)	(27.5)
Decrease in Accounts payable	(3)	(7.9)
Decrease in Accrued expenses and other current liabilities	(162.5)	(118.5)
Increase (decrease) in Deferred revenues	37.7	(11.7)
Non-current assets and liabilities:
Increase in Other non-current assets	(24.6)	(27.1)
Increase in Other non-current liabilities	8.1	7.3
Net cash flows used in operating activities	(93.3)	(87.4)
Cash Flows From Investing Activities
Capital expenditures	(29.7)	(7.2)
Software purchases and capitalized internal use software	(6.3)	(7.6)
Acquisitions, net of cash acquired	(3.7)	(402)
Purchase of intellectual property	0	(90)
Equity method investment	(1.5)	(1.6)
Net cash flows used in investing activities	(41.2)	(508.4)
Cash Flows From Financing Activities
Proceeds from Long-term debt	190	110
Excess tax benefits from stock-based compensation awards		20.9
Dividends paid	(37.9)	(35.5)
Purchases of Treasury stock	(2.3)	(40)
Proceeds from exercise of stock options	1.8	41.4
Costs related to issuance of bonds	0	(0.7)
Other financing activities	(5.5)	0
Net cash flows provided by financing activities	146.1	96.1
Effect of exchange rate changes on Cash and cash equivalents	6	(0.7)
Net change in Cash and cash equivalents	17.7	(500.3)
Cash and cash equivalents, beginning of period	271.1	727.7
Cash and cash equivalents, end of period	288.8	227.4
Supplemental disclosure of cash flow information:
Cash payments made for interest	9.3	8
Cash payments made for income taxes, net of refunds	78.4	55
Non-cash investing and financing activities:
Accrual of unpaid property, plant and equipment and software	1.4	0.6
Increase in acquisition related obligations	2.2	0
Obligations related to the purchase of intellectual property	$ 0	$ 5

Basis of Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Business Description and Basis of Presentation	BASIS OF PRESENTATION A. Description of Business . Broadridge Financial Solutions, Inc. (“Broadridge” or the “Company”), a Delaware corporation, is a global fintech leader providing investor communications and technology-driven solutions to banks, broker-dealers, mutual funds and corporate issuers. Our services include investor and customer communications, securities processing, and data and analytics solutions. In short, we provide the infrastructure that helps the financial services industry operate. With over 50 years of experience, including 10 years as an independent public company, we provide financial services firms with advanced, dependable, scalable and cost-effective integrated systems. Our systems help reduce the need for clients to make significant capital investments in operations infrastructure, thereby allowing them to increase their focus on core business activities. We deliver a broad range of solutions that help our clients better serve their retail and institutional customers across the entire investment lifecycle, including pre-trade, trade, and post-trade processing functionality. The Company operates in two reportable segments: Investor Communication Solutions and Global Technology and Operations. Broadridge serves a large and diverse client base across four client groups: capital markets, asset management, wealth management and corporations. • Investor Communication Solutions —Broadridge offers Bank/Broker-Dealer Investor Communication Solutions, Customer Communication Solutions, Corporate Issuer Solutions, Advisor Solutions and Mutual Fund and Retirement Solutions in this segment. A large portion of Broadridge’s Investor Communication Solutions business involves the processing and distribution of proxy materials to investors in equity securities and mutual funds, as well as the facilitation of related vote processing. ProxyEdge ® , Broadridge’s innovative electronic proxy delivery and voting solution for institutional investors and financial advisors, helps ensure the participation of the largest stockholders of many companies. In addition, Broadridge provides corporations with registered proxy services as well as registrar, stock transfer and record-keeping services. Broadridge also provides the distribution of regulatory reports and corporate action/reorganization event information, as well as tax reporting solutions that help our clients meet their regulatory compliance needs. Broadridge provides customer communication solutions to companies in the financial services, healthcare, insurance, consumer finance, telecommunications, utilities, retail banking and other service industries. The Broadridge Communications Cloud SM , launched in 2016, provides multi-channel communications delivery, communications management, information management and control and administration capabilities that enable and enhance our clients’ communications with their customers. Broadridge processes and distributes our clients’ essential communications including transactional (e.g., bills and statements), regulatory (e.g., explanations of benefits, notices, and trade confirmations) and marketing (e.g., direct mail) communications through print and digital channels. Broadridge’s advisor solutions enable firms, financial advisors, wealth managers, and insurance agents to better engage with customers through cloud-based marketing and customer communication tools. Broadridge’s marketing ecosystem integrates data, content and technology to drive new client acquisition and cross-sell opportunities through the creation of sales and educational content, including seminars and a library of financial planning topics as well as customizable advisor websites, search engine marketing and electronic and print newsletters. Broadridge’s advisor solutions also help advisors optimize their practice management through customer and account data aggregation and reporting. Broadridge’s mutual fund and retirement solutions are a full range of tools for mutual funds, exchange traded fund (“ETF”) providers, and asset management firms. They include data-driven technology solutions for data management, analytics, investment accounting, marketing and customer communications. In addition, Broadridge provides mutual fund trade processing services for retirement providers, third party administrators, financial advisors, banks and wealth management professionals through its subsidiary, Matrix Financial Solutions, Inc. (“Matrix”). • Global Technology and Operations —Broadridge offers a suite of advanced computerized real-time transaction processing services that automate the securities transaction lifecycle, from desktop productivity tools, data aggregation, performance reporting, and portfolio management to order capture and execution, trade confirmation, settlement, reference data, reconciliations and accounting. Broadridge’s services help financial institutions and investment managers efficiently and cost-effectively consolidate their books and records, gather and service assets under management and manage risk, thereby enabling them to focus on their core business activities. Broadridge’s multi-currency solutions support real-time global trading of equity, fixed income, mutual fund, foreign exchange and exchange traded derivative securities in established and emerging markets. In addition, Broadridge’s Managed Services solution supports the operations of our clients’ businesses including their securities clearing, record-keeping, and custody-related functions. B. Consolidation and Basis of Presentation . The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States of America (“U.S.”) and in accordance with the U.S. Securities and Exchange Commission (“SEC”) requirements for Quarterly Reports on Form 10-Q. These financial statements present the condensed consolidated position of the Company and include the entities in which the Company directly or indirectly has a controlling financial interest as well as various entities in which the Company has investments recorded under either the cost or equity methods of accounting. Intercompany balances and transactions have been eliminated. Amounts presented may not sum due to rounding. The results of operations reported for interim periods are not necessarily indicative of the results of operations for the entire year or any subsequent interim period. These Condensed Consolidated Financial Statements should be read in conjunction with the Company’s Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2017 (the “ 2017 Annual Report”) filed on August 10, 2017 with the SEC. These Condensed Consolidated Financial Statements include all normal and recurring adjustments necessary for a fair presentation in accordance with GAAP of the Company’s financial position at September 30, 2017 and June 30, 2017 , the results of its operations for the three months ended September 30, 2017 and 2016 , and its cash flows for the three months ended September 30, 2017 and 2016 . In the first quarter of fiscal year 2018, the Company adopted ASU No. 2016-09, “Improvements to Employee Share-Based Payment Accounting” (“ASU No. 2016-09”). Please refer to Note 2, “New Accounting Pronouncements,” for a discussion of the impact of ASU No. 2016-09. In the first quarter of fiscal year 2018, the Company adopted ASU No. 2015-17, “Balance Sheet Classification of Deferred Taxes” (“ASU No. 2015-17”). Please refer to Note 2, “New Accounting Pronouncements,” for a discussion of the impact of ASU No. 2015-17. C. Use of Estimates . The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes thereto. These estimates are based on management’s best knowledge of current events, historical experience, actions that the Company may undertake in the future and on various other assumptions and judgment that are believed to be reasonable under the circumstances. Accordingly, actual results could differ from those estimates. D. Subsequent Events . In preparing the accompanying Condensed Consolidated Financial Statements, the Company has reviewed events that have occurred after September 30, 2017 , through the date of issuance of the Condensed Consolidated Financial Statements. Please refer to Note 16, “Subsequent Event,” for a description of the Company’s subsequent event.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Sep. 30, 2017
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS In the first quarter of fiscal year 2018, the Company adopted ASU No. 2016-09. ASU No. 2016-09 identifies areas for simplification involving several aspects of accounting for share-based payment transactions, including presenting the excess tax benefit or deficit from the exercise or vesting of share-based payments in the income statement, classifying the excess tax benefit or deficit as an operating activity in the Condensed Consolidated Statements of Cash Flows rather than as a financing activity, a revision to the criteria for classifying an award as equity or liability and an option to recognize gross stock compensation expense with actual forfeitures recognized as they occur. In addition, ASU No. 2016-09 eliminates the excess tax benefit from the assumed proceeds calculation under the treasury stock method for purposes of calculating diluted shares. As a result of this adoption, the Company recorded excess tax benefits related to share-based compensation awards of $1.5 million during the three months ended September 30, 2017 in the income tax provision on a prospective basis, whereas such benefits were previously recognized in equity. The Company also excluded the excess tax benefits from the assumed proceeds available to repurchase shares in the computation of diluted earnings per share for the quarter ended September 30, 2017. The Company has not adjusted prior periods presented for the change in accounting for excess tax benefits in the Condensed Consolidated Financial Statements. The Company also elected to apply the change in presentation of excess tax benefits in the Condensed Consolidated Statement of Cash Flows prospectively, and as a result, excess tax benefits are classified as operating activities when realized through reductions to subsequent tax payments. This adoption resulted in a decrease to both net cash used in operating activities and net cash provided by financing activities of $1.5 million for the three months ended September 30, 2017. The Company has not adjusted prior periods presented for the change in classification of excess tax benefits on the Condensed Consolidated Statement of Cash Flows. The Company also elected to continue its current practice of estimating expected forfeitures as permitted by ASU No. 2016-09. In the first quarter of fiscal year 2018, the Company adopted ASU No. 2015-17 on a prospective basis to all deferred tax liabilities and assets. The amendments in ASU No. 2015-17 require entities that present a classified balance sheet to classify all deferred tax liabilities and assets as a noncurrent amount. The Company’s fiscal year 2017 Condensed Consolidated Balance Sheet has not been retrospectively adjusted for the adoption of ASU No. 2015-17. In January 2017, the FASB issued ASU No. 2017-04, “Simplifying the Accounting for Goodwill Impairment” (“ASU No. 2017-04”). ASU No. 2017-04 removes Step 2 of the current goodwill impairment test, which currently requires a hypothetical purchase price allocation if the fair value of a reporting unit were to be less than its book value, for purposes of determining the amount of goodwill impaired. Under ASU No. 2017-04, the Company would now recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds the fair value of the reporting unit; however, the loss recognized would not exceed the total amount of goodwill allocated to that reporting unit. ASU No. 2017-04 will be effective for the Company beginning in the first quarter of fiscal 2021, to be applied on a prospective basis. The pending adoption of this guidance is not expected to have a material impact on the Company’s Condensed Consolidated Financial Statements. In January 2017, the FASB issued ASU No. 2017-01, “Clarifying the Definition of a Business” (“ASU No. 2017-01”). ASU No. 2017-01 narrows the definition of a business, in part by concluding that an integrated set of assets and activities (referred to as a “set”) is not a business when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or group of similar identifiable assets. ASU No. 2017-01 is effective for the Company beginning in the first quarter of fiscal year 2019, to be applied on a prospective basis. The pending adoption of this guidance is not expected to have a material impact on the Company’s Condensed Consolidated Financial Statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases” (“ASU No. 2016-02”). Under ASU No. 2016-02, all lease arrangements, with certain limited exceptions, exceeding a twelve month term must now be recognized as assets and liabilities on the balance sheet of the lessee by recording a right-of-use asset and corresponding lease obligation generally equal to the present value of the future lease payments over the lease term. Further, the income statement will reflect lease expense for leases classified as operating and amortization/interest expense for leases classified as financing, determined using classification criteria substantially similar to the current lease guidance for distinguishing between an operating and capital lease. ASU No. 2016-02 also contains certain additional qualitative and quantitative disclosures to supplement the amounts recorded in the financial statements so that users can understand more about the nature of an entity’s leasing activities, including significant judgments and changes in judgments. ASU No. 2016-02 is effective for the Company in the first quarter of fiscal year 2020 and will be adopted on a modified retrospective basis, which will require adjustment to all comparative periods presented in the consolidated financial statements. The Company is currently evaluating the impact of the pending adoption of ASU No. 2016-02 on the Company’s Condensed Consolidated Financial Statements. In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU No. 2016-01”), which provides guidance for the recognition, measurement, presentation, and disclosure of financial assets and liabilities. Under ASU No. 2016-01, changes in the fair value of publicly traded equity securities for which the Company does not have significant influence would be recorded as part of Net earnings rather than as Other comprehensive income (loss), net. In addition, equity investments that do not have a readily determinable fair value will be recorded at cost less impairment as further adjusted for observable price changes in orderly transactions for identical or similar investments of the issuer. ASU No. 2016-01 is effective for the Company beginning in the first quarter of fiscal year 2019. The guidance in ASU No. 2016-01 related to changes in fair value of publicly traded equity securities will be adopted by means of a cumulative-effect adjustment to the balance sheet as of the beginning of fiscal year 2019, while the guidance related to equity securities without readily determinable fair values will be adopted prospectively to equity investments that exist as of the beginning of fiscal year 2019. The pending adoption of ASU No. 2016-01 is not expected to have a material impact on the Company’s Condensed Consolidated Financial Statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” (“ASU No. 2014-09”), to supersede nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU No. 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. ASU No. 2014-09 defines a five step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU No. 2014-09 also requires certain enhanced disclosures, including disclosures on the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers. In August 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers - Deferral of the Effective Date,” which defers the effective date of ASU No. 2014-09 by one year, with an option that would permit companies to adopt the standard as early as the original effective date. As a result, ASU No. 2014-09 will be effective for the Company as of the first quarter of fiscal year 2019 using either of two methods: (i) retrospective to each prior reporting period presented with the option to elect certain practical expedients as defined within ASU No. 2014-09; or (ii) retrospective with the cumulative effect of initially applying ASU No. 2014-09 recognized at the date of initial application and providing certain additional disclosures as defined per ASU No. 2014-09. In March 2016, the FASB issued ASU No. 2016-08, “Principal versus Agent Considerations (Reporting Revenue Gross versus Net)” (“ASU No. 2016-08”), which provides clarifying implementation guidance to the principal versus agent provisions of ASU No. 2014-09. In April 2016, the FASB issued ASU No. 2016-10 “Identifying Performance Obligations and Licensing” (“ASU No. 2016-10”), which provides clarifying implementation guidance for applying ASU No. 2014-09 with respect to identifying performance obligations and the accounting for licensing arrangements. In May 2016, the FASB issued ASU No. 2016-12 “Narrow-Scope Improvements and Practical Expedients” (“ASU No. 2016-12”), which provides certain clarifying guidance for ASU No. 2014-09 relative to treatment of sales taxes, noncash consideration, collectibility and certain aspects of transitional guidance. In December 2016, the FASB issued ASU No. 2016-20 “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers,” which provides certain technical corrections for ASU No. 2014-09 including the impairment testing of capitalized contract costs, disclosure of remaining performance obligations, and certain other matters. Each of ASU No. 2016-08, ASU No. 2016-10, ASU No. 2016-12 and ASU No. 2016-20 have the same effective date as ASU No. 2014-09. The Company has not yet elected a transition method. While the Company is still in the process of evaluating the full impact of the pending adoption of ASU No. 2014-09 and related amendments on its Consolidated Financial Statements and related disclosures, including assessing the need for system or process changes or enhancements, the Company has identified certain expected impacts of the new standard on its Consolidated Financial Statements. Specifically, the Company expects to capitalize certain sales commissions, as well as capitalize certain additional costs that are part of setting up or converting a client’s systems to function with the Company’s technology, both of which are currently expensed. Additionally, the Company expects to recognize proxy revenue predominantly at the time of proxy distribution to the client’s shareholders rather than on the date of the client’s shareholder meeting, which is typically 30 days after the proxy distribution. Other expected changes to the timing of revenue recognition include deferral of revenue from certain transaction processing platform enhancements as well as acceleration of revenue from certain multi-year software license arrangements that are currently recognized over the term of the software subscription.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE Basic earnings per share (“EPS”) is calculated by dividing the Company’s Net earnings by the basic Weighted-average shares outstanding for the periods presented. The Company calculates diluted EPS using the treasury stock method, which reflects the potential dilution that could occur if outstanding stock options at the presented date are exercised and restricted stock unit awards have vested. For the three months ended September 30, 2017 , the computation of diluted EPS did not include 0.3 million options to purchase Broadridge common stock as the effect of their inclusion would have been anti-dilutive. For the three months ended September 30, 2016 , there were no options to purchase Broadridge common stock that would have been anti-dilutive to exclude from the computation of diluted EPS. The following table sets forth the denominators of the basic and diluted EPS computations (in millions): Three Months Ended 2017 2016 Weighted-average shares outstanding: Basic 116.5 118.5 Common stock equivalents 3.3 3.1 Diluted (1) 119.8 121.6 (1) On July 1, 2017, the Company adopted ASU No. 2016-09. See Note 2, “New Accounting Pronouncements,” for additional information related to adoption of this standard.

Interest Expense, Net

Interest Expense, Net	3 Months Ended
	Sep. 30, 2017
Other Income and Expenses [Abstract]
Interest Expense, Net	INTEREST EXPENSE, NET Interest expense, net consisted of the following: Three Months Ended September 30, 2017 2016 (in millions) Interest expense on borrowings $ 10.0 $ 10.7 Interest income (0.6 ) (0.4 ) Interest expense, net $ 9.4 $ 10.4

Other Non-Operating (Income) Ex

Other Non-Operating (Income) Expenses, Net	3 Months Ended
	Sep. 30, 2017
Other Income and Expenses [Abstract]
Other Non-Operating (Income) Expenses, Net	OTHER NON-OPERATING (INCOME) EXPENSES, NET Other non-operating (income) expenses, net consisted of the following: Three Months Ended September 30, 2017 2016 (in millions) Losses from equity method investments $ 1.0 $ 1.9 Foreign currency exchange (gain) loss (0.3 ) 2.3 Other non-operating (income) expenses, net $ 0.7 $ 4.2

Acquisitions

Acquisitions	3 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS BUSINESS COMBINATIONS Assets acquired and liabilities assumed in business combinations are recorded on the Company’s Condensed Consolidated Balance Sheets as of the respective acquisition date based upon the estimated fair values at such date. The results of operations of the business acquired by the Company are included in the Company’s Condensed Consolidated Statements of Earnings since the respective date of acquisition. The excess of the purchase price over the estimated fair values of the underlying assets acquired and liabilities assumed is allocated to Goodwill. Certain of our acquisitions may contain contingent consideration liabilities based upon the achievement of certain individual defined financial targets of the acquired business. These contingent consideration liabilities are measured at fair value based upon management’s expectations of future achievement by the acquired business of these individual financial targets. During the first quarter of fiscal year 2018, there were no material acquisitions. ASSET ACQUISITIONS Purchase of Intellectual Property In September 2016, the Company’s Investor Communication Solutions segment acquired intellectual property assets from Inveshare and concurrently entered into a development agreement with an affiliate of Inveshare to use these assets to develop blockchain technology applications for Broadridge’s proxy business. The purchase price was $95.0 million , which consisted of a $90.0 million cash payment upon closing of the acquisition and a $5.0 million obligation which the Company paid during the three months ended September 30, 2017. The Company also expects to pay a deferred payment of $40.0 million to an affiliate of Inveshare upon delivery of the new blockchain technology applications by September 2018.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS Accounting guidance on fair value measurements for certain financial assets and liabilities requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: Level 1 Quoted market prices in active markets for identical assets and liabilities. Level 2 Observable market-based inputs other than quoted prices in active markets for identical assets and liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. In valuing assets and liabilities, the Company is required to maximize the use of quoted market prices and minimize the use of unobservable inputs. The Company calculates the fair value of its Level 1 and Level 2 instruments based on the exchange traded price of similar or identical instruments where available or based on other observable instruments. These calculations take into consideration the credit risk of both the Company and its counterparties. The Company has not changed its valuation techniques in measuring the fair value of any financial assets and liabilities during the period. The Company holds available-for-sale securities issued by a non-public entity for which the lowest level of significant inputs is unobservable. On a recurring basis, the Company uses pricing models and similar techniques for which the determination of fair value requires significant judgment by management. Accordingly, the Company classifies the available-for-sale securities as Level 3 in the table below. The fair values of the contingent consideration obligations are based on a probability weighted approach derived from the estimates of earn-out criteria and the probability assessment with respect to the likelihood of achieving those criteria. The measurement is based on significant inputs that are not observable in the market, therefore, the Company classifies this liability as Level 3 in the table below. The following tables set forth the Company’s financial assets and liabilities at September 30, 2017 and June 30, 2017 , respectively, that are measured at fair value on a recurring basis during the period, segregated by level within the fair value hierarchy: Level 1 Level 2 Level 3 Total (in millions) Assets: Cash and cash equivalents: Money market funds (1) $ 86.5 $ — $ — $ 86.5 Other current assets: Available-for-sale securities 0.1 — — 0.1 Other non-current assets: Available-for-sale securities 60.1 — 1.1 61.2 Total assets as of September 30, 2017 $ 146.8 $ — $ 1.1 $ 147.9 Liabilities: Contingent consideration obligations: — — 8.4 8.4 Total liabilities as of September 30, 2017 $ — $ — $ 8.4 $ 8.4 Level 1 Level 2 Level 3 Total (in millions) Assets: Cash and cash equivalents: Money market funds (1) $ 37.9 $ — $ — $ 37.9 Other current assets: Available-for-sale securities 0.1 — — 0.1 Other non-current assets: Available-for-sale securities 50.6 — 1.1 51.7 Total assets as of June 30, 2017 $ 88.6 $ — $ 1.1 $ 89.8 Liabilities: Contingent consideration obligations: — — 6.7 6.7 Total liabilities as of June 30, 2017 $ — $ — $ 6.7 $ 6.7 _____________ (1) Money market funds include money market deposit account balances of $38.8 million and less than $0.1 million as of September 30, 2017 and June 30, 2017 , respectively. The following table sets forth an analysis of changes during the three months ended September 30, 2017 and 2016 , in Level 3 financial liabilities of the Company: September 30, September 30, (in millions) Beginning balance $ 6.7 $ 5.5 Additional contingent consideration incurred 1.7 — Increase in contingent consideration liability — 1.1 Foreign currency impact on contingent consideration liability (a) — (0.2 ) Payments — — Ending balance $ 8.4 $ 6.4 _____________ (a) The Foreign currency impact on contingent consideration liabilities was less than $0.1 million as of September 30, 2017 . The Company did not incur any Level 3 fair value asset impairments during the three months ended September 30, 2017 and 2016 . Changes in economic conditions or model based valuation techniques may require the transfer of financial instruments between levels. The Company’s policy is to record transfers between levels if any, as of the beginning of the fiscal year.

Other Non-Current Assets

Other Non-Current Assets	3 Months Ended
	Sep. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Non-Current Assets	OTHER NON-CURRENT ASSETS Other non-current assets consisted of the following: September 30, June 30, (in millions) Deferred client conversion and start-up costs $ 168.5 $ 162.4 Deferred data center costs (a) 39.2 40.1 Long-term investments 73.2 63.4 Long-term broker fees 25.9 24.2 Other 28.6 26.4 Total $ 335.5 $ 316.4 (a) Represents deferred data center costs associated with the Company’s information technology services agreements with International Business Machines Corporation (“IBM”). Please refer to Note 13, “Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements” for a further discussion.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	3 Months Ended
	Sep. 30, 2017
Other Liabilities Disclosure [Abstract]
Accrued Expenses and Other Current Liabilities	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consisted of the following: September 30, June 30, (in millions) Employee compensation and benefits $ 140.9 $ 221.2 Accrued broker fees 53.3 79.5 Accrued taxes 31.4 80.2 Accrued dividend payable 42.5 37.9 Customer deposits 35.1 39.5 Other 27.8 37.1 Total $ 331.0 $ 495.3

Borrowings

Borrowings	3 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Borrowings	BORROWINGS Outstanding borrowings and available capacity under the Company’s borrowing arrangements were as follows: Expiration Date Principal amount outstanding at September 30, 2017 Carrying value at September 30, 2017 Carrying value at June 30, 2017 Unused Available Capacity Fair Value at September 30, 2017 (in millions) Long-term debt Fiscal 2017 Revolving Credit Facility February 2022 $ 400.0 $ 400.0 $ 210.0 $ 600.0 $ 400.0 Fiscal 2014 Senior Notes September 2020 400.0 398.0 397.9 — 420.2 Fiscal 2016 Senior Notes June 2026 500.0 494.4 494.1 — 496.8 Total debt $ 1,300.0 $ 1,292.4 $ 1,102.1 $ 600.0 $ 1,317.0 Future principal payments on the Company’s outstanding debt are as follows: Years ending June 30, 2018 2019 2020 2021 2022 Thereafter Total (in millions) $ — $ — $ — $ 400.0 $ 400.0 $ 500.0 $ 1,300.0 Fiscal 2017 Revolving Credit Facility: On February 6, 2017, the Company entered into an amended and restated $1.0 billion five -year revolving credit facility (the “Fiscal 2017 Revolving Credit Facility”), which replaced the $750.0 million five -year revolving credit facility entered into during August 2014 (the “Fiscal 2015 Revolving Credit Facility”) (together the “Revolving Credit Facilities”). The Fiscal 2017 Revolving Credit Facility is comprised of a $900.0 million U.S. dollar tranche and a $100.0 million multicurrency tranche. At September 30, 2017, the Company had $400.0 million in outstanding borrowings and had unused available capacity of $600.0 million under the Fiscal 2017 Revolving Credit Facility. The weighted-average interest rate on the Revolving Credit Facilities was 2.20% and 1.46% for the three months ended September 30, 2017 and 2016, respectively. The fair value of the variable-rate Fiscal 2017 Revolving Credit Facility borrowings at September 30, 2017 approximates carrying value and has been classified as a Level 2 financial liability (as defined in Note 7, “Fair Value of Financial Instruments”). Borrowings under the Fiscal 2017 Revolving Credit Facility can be made in tranches up to 360 days and bear interest at LIBOR plus 100 basis points . In addition, the Fiscal 2017 Revolving Credit Facility has an annual facility fee equal to 12.5 basis points on the entire facility, similar to the previous Fiscal 2015 Revolving Credit Facility. The annual facility fees for the Revolving Credit Facilities totaled $0.3 million and $0.2 million for the three months ended September 30, 2017 and 2016 , respectively. The Company incurred $1.8 million in costs to establish the Fiscal 2017 Revolving Credit Facility. As of September 30, 2017, $2.6 million of these costs remain to be amortized (including $0.2 million and $0.8 million of issuance costs from the Fiscal 2012 Revolving Credit Facility and Fiscal 2015 Revolving Credit Facility, respectively). Such costs are capitalized in Other non-current assets in the Condensed Consolidated Balance Sheets and are being amortized to Interest expense, net on a straight-line basis, which approximates the effective interest method, over the term of this facility. The Company may voluntarily prepay, in whole or in part and without premium or penalty, borrowings under the Fiscal 2017 Revolving Credit Facility in accordance with individual drawn loan maturities. The Fiscal 2017 Revolving Credit Facility is subject to certain covenants, including a leverage ratio. At September 30, 2017, the Company is in compliance with all covenants of the Fiscal 2017 Revolving Credit Facility. Fiscal 2014 Senior Notes : In August 2013, the Company completed an offering of $400.0 million in aggregate principal amount of senior notes (the “Fiscal 2014 Senior Notes”). The Fiscal 2014 Senior Notes will mature on September 1, 2020 and bear interest at a rate of 3.95% per annum. Interest on the Fiscal 2014 Senior Notes is payable semi-annually in arrears on March 1st and September 1st each year. The Fiscal 2014 Senior Notes were issued at a price of 99.871% (effective yield to maturity of 3.971% ). The indenture governing the Fiscal 2014 Senior Notes contains certain covenants including covenants restricting the Company’s ability to create or incur liens securing indebtedness for borrowed money and to enter into certain sale-leaseback transactions. At September 30, 2017 , the Company is in compliance with the covenants of the indenture governing the Fiscal 2014 Senior Notes. The indenture also contains covenants regarding the purchase of the Fiscal 2014 Senior Notes upon a change of control triggering event. The Company may redeem the Fiscal 2014 Senior Notes in whole or in part at any time before their maturity. The Company incurred $4.3 million in debt issuance costs to establish the Fiscal 2014 Senior Notes. These costs have been capitalized and are being amortized to Interest expense, net on a straight-line basis, over the seven -year term. As of September 30, 2017 and June 30, 2017 , $1.7 million and $1.9 million , respectively, of debt issuance costs remain to be amortized and have been presented as a direct deduction from the carrying value of the Fiscal 2014 Senior Notes. The fair value of the fixed-rate Fiscal 2014 Senior Notes at September 30, 2017 and June 30, 2017 was $420.2 million and $419.1 million , respectively, based on quoted market prices and has been classified as a Level 1 financial liability (as defined in Note 7, “Fair Value of Financial Instruments”). Fiscal 2016 Senior Notes: In June 2016, the Company completed an offering of $500.0 million in aggregate principal amount of senior notes (the “Fiscal 2016 Senior Notes”). The Fiscal 2016 Senior Notes will mature on June 27, 2026 and bear interest at a rate of 3.40% per annum. Interest on the Fiscal 2016 Senior Notes is payable semi-annually in arrears on June 27 and December 27 of each year. The Fiscal 2016 Senior Notes were issued at a price of 99.589% (effective yield to maturity of 3.449% ). The indenture governing the Fiscal 2016 Senior Notes contains certain covenants including covenants restricting the Company’s ability to create or incur liens securing indebtedness for borrowed money, to enter into certain sale-leaseback transactions, and to engage in mergers or consolidations and transfer or lease all or substantially all of our assets. At September 30, 2017 , the Company is in compliance with the covenants of the indenture governing the Fiscal 2016 Senior Notes. The indenture also contains covenants regarding the purchase of the Fiscal 2016 Senior Notes upon a change of control triggering event. The Fiscal 2016 Senior Notes are senior unsecured obligations of the Company and rank equally with the Company’s other senior indebtedness. The Company may redeem the Fiscal 2016 Senior Notes in whole or in part at any time before their maturity. The Company incurred $4.5 million in debt issuance costs to establish the Fiscal 2016 Senior Notes. These costs have been capitalized and are being amortized to Interest expense, net on a straight-line basis, which approximates the effective interest method, over the ten -year term. As of September 30, 2017 and June 30, 2017 , $3.8 million and $4.0 million , respectively, of debt issuance costs remain to be amortized and have been presented as a direct deduction from the carrying value of the Fiscal 2016 Senior Notes. The fair value of the fixed-rate Fiscal 2016 Senior Notes at September 30, 2017 and June 30, 2017 was $496.8 million and $494.6 million , respectively, based on quoted market prices and has been classified as a Level 1 financial liability (as defined in Note 7, “Fair Value of Financial Instruments”). The Fiscal 2017 Revolving Credit Facility, Fiscal 2014 Senior Notes, and Fiscal 2016 Senior Notes are senior unsecured obligations of the Company and are ranked equally in right of payment. In addition, certain of the Company’s subsidiaries established unsecured, uncommitted lines of credit with banks. As of September 30, 2017 and June 30, 2017 , there were no outstanding borrowings under these lines of credit.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION The activity related to the Company’s incentive equity awards for the three months ended September 30, 2017 consisted of the following: Stock Options Time-based Restricted Stock Units Performance-based Restricted Stock Units Number of Options Weighted- Average Exercise Price Number of Shares Weighted- Average Grant Date Fair Value Number of Shares Weighted- Average Grant Date Fair Value Balances at July 1, 2017 5,137,641 $ 39.63 1,074,593 $ 55.98 470,862 $ 58.26 Granted — — 8,464 73.32 — — Exercise of stock options (a) (86,608 ) 21.63 — — — — Vesting of restricted stock units — — (838 ) 52.50 (15,033 ) 54.36 Expired/forfeited (72,642 ) 37.65 (41,954 ) 51.71 (52,863 ) 34.50 Balances at September 30, 2017 (b), (c) 4,978,391 $ 39.97 1,040,265 $ 56.30 402,966 $ 61.52 ____________ (a) Stock options exercised during the period of July 1, 2017 through September 30, 2017 had an aggregate intrinsic value of $4.8 million . (b) As of September 30, 2017 , the Company’s outstanding vested and currently exercisable stock options using the September 30, 2017 closing stock price of $80.82 (approximately 2.7 million shares) had an aggregate intrinsic value of $131.0 million with a weighted-average exercise price of $31.50 and a weighted-average remaining contractual life of 5.4 years. The total of all stock options outstanding as of September 30, 2017 have a weighted-average remaining contractual life of 6.4 years. (c) As of September 30, 2017 , time-based restricted stock units and performance-based restricted stock units expected to vest using the September 30, 2017 closing stock price of $80.82 (approximately 1.0 million and 0.4 million shares, respectively) had an aggregate intrinsic value of $79.9 million and $31.3 million , respectively. The Company has stock-based compensation plans under which the Company annually grants stock option and restricted stock unit awards. Stock options are granted to employees at exercise prices equal to the fair market value of the Company’s common stock on the dates of grant, with the measurement of stock-based compensation expense recognized in Net earnings based on the fair value of the award on the date of grant. Stock-based compensation expense of $8.5 million and $8.8 million , as well as related tax benefits of $3.0 million and $3.0 million were recognized for the three months ended September 30, 2017 and 2016 , respectively. As of September 30, 2017 , the total remaining unrecognized compensation cost related to non-vested stock options and restricted stock unit awards amounted to $7.6 million and $33.8 million , respectively, which will be amortized over the weighted-average remaining requisite service periods of 2.1 years and 1.3 years , respectively. For stock options issued, the fair value of each stock option was estimated on the date of grant using a binomial option pricing model. The binomial model considers a range of assumptions related to volatility, risk-free interest rate and employee exercise behavior. Expected volatilities utilized in the binomial model are based on a combination of implied market volatilities, historical volatility of the Company’s stock price and other factors. Similarly, the dividend yield is based on historical experience and expected future changes. The risk-free rate is derived from the U.S. Treasury yield curve in effect at the time of grant. The binomial model also incorporates exercise and forfeiture assumptions based on an analysis of historical data. The expected life of the stock option grants is derived from the output of the binomial model and represents the period of time that options granted are expected to be outstanding.

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The provision for income taxes for the three months ended September 30, 2017 was $24.4 million compared to $17.9 million for the three months ended September 30, 2016 . The effective tax rate for the three months ended September 30, 2017 was 32.8% compared to 34.8% for the three months ended September 30, 2016 . The decrease in the effective tax rate for the three months ended September 30, 2017 , compared to the comparable prior year period is primarily attributable to the recognition of excess tax benefits associated with stock compensation and a more favorable geographic mix of income resulting in a higher percentage of lower taxed income in non-U.S. jurisdictions.

Contractual Commitments, Contin

Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements	3 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements	CONTRACTUAL COMMITMENTS, CONTINGENCIES AND OFF-BALANCE SHEET ARRANGEMENTS Data Center Agreements In March 2010, the Company and IBM entered into an Information Technology Services Agreement (the “IT Services Agreement”), under which IBM provides certain aspects of the Company’s information technology infrastructure. Under the IT Services Agreement, IBM provides a broad range of technology services to the Company including supporting its mainframe, midrange, open systems, network and data center operations, as well as providing disaster recovery services. The Company has the option of incorporating additional services into the agreement over time. The migration of data center processing to IBM was completed in August 2012. The IT Services Agreement would have expired on June 30, 2022. In March 2015, the Company signed a two -year extension to the IT Services Agreement which expires on June 30, 2024 . The Company has the right to renew the term of the IT Services Agreement for up to one additional 12 -month term. Commitments remaining under this agreement at September 30, 2017 are $376.3 million through fiscal year 2024, the final year of the contract. In March 2014, the Company and IBM United Kingdom Limited (“IBM UK”) entered into an Information Technology Services Agreement (the “EU IT Services Agreement”), under which IBM UK provides data center services supporting the Company’s technology outsourcing services for certain clients in Europe and Asia. The EU IT Services Agreement expires in October 2023. The Company has the right to renew the initial term of the EU IT Services Agreement for up to one additional 12 -month term or one additional 24 -month term. Commitments remaining under this agreement at September 30, 2017 are $27.7 million through fiscal year 2024, the final year of the contract. Equity Method Investment The Company contributed $1.5 million to an equity method investment during the three months ended September 30, 2017 , and has a remaining commitment of $1.3 million to fund this investment at September 30, 2017 . Purchase of Intellectual Property As discussed in Note 6, “Acquisitions,” the Company expects to pay $40.0 million to an affiliate of Inveshare by September 2018 upon delivery of certain new blockchain technology applications. Other In the normal course of business, the Company is subject to various claims and litigation. While the outcome of any claim or litigation is inherently unpredictable, the Company believes that the ultimate resolution of these matters will not, individually or in the aggregate, result in a material impact on its financial condition, results of operations or cash flows. It is not the Company’s business practice to enter into off-balance sheet arrangements. However, the Company is exposed to market risk from changes in foreign currency exchange rates that could impact its financial position, results of operations, and cash flows. The Company manages its exposure to these market risks through its regular operating and financing activities and, when deemed appropriate, through the use of derivative financial instruments. The Company may use derivative financial instruments as risk management tools and not for trading purposes. The Company was not a party to any derivative financial instruments at September 30, 2017 or at June 30, 2017 . In the normal course of business, the Company also enters into contracts in which it makes representations and warranties that relate to the performance of the Company’s products and services. The Company does not expect any material losses related to such representations and warranties, or collateral arrangements. Our business process outsourcing and mutual fund processing services are performed by Broadridge Business Process Outsourcing, LLC (“BBPO”), a wholly-owned indirect subsidiary, which is a broker-dealer registered with the Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority, Inc. (“FINRA”). Although BBPO’s FINRA membership agreement allows it to engage in clearing and the retailing of corporate securities in addition to mutual fund retailing on a wire order basis, BBPO does not clear customer transactions or carry customer accounts. As a registered broker-dealer and member of FINRA, BBPO is subject to the Uniform Net Capital Rule 15c3-1 of the Securities Exchange Act of 1934, as amended (“Rule 15c3-1”), which requires BBPO to maintain a minimum amount of net capital. At September 30, 2017, BBPO was in compliance with this capital requirement. BBPO, as a “Managing Clearing Member” of the Options Clearing Corporation (the “OCC”), is also subject to OCC Rule 309(b) with respect to the business process outsourcing services that it provides to other OCC “Managed Clearing Member” broker-dealers. OCC Rule 309(b) requires that BBPO maintain a minimum amount of net capital. At September 30, 2017, BBPO was in compliance with this capital requirement. In addition, Matrix Trust Company, a wholly-owned indirect subsidiary, is a Colorado State non-depository trust company and National Securities Clearing Corporation trust member, whose primary business is to provide cash agent, custodial and directed or non-discretionary trust services to institutional customers. As a result, Matrix Trust Company is subject to various regulatory capital requirements administered by the Colorado Division of Banking and the Arizona Department of Financial Institutions, as well as the National Securities Clearing Corporation. Specific capital requirements that involve quantitative measures of assets, liabilities, and certain off-balance sheet items, when applicable, must be met. At September 30, 2017, Matrix Trust Company was in compliance with its capital requirements.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income/(Loss) by Component	3 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Changes in Accumulated Other Comprehensive Income/(Loss) by Component	CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) BY COMPONENT The following tables summarize the changes in the accumulated balances for each component of accumulated other comprehensive income/(loss) for the three months ended September 30, 2017 , and 2016 , respectively: Foreign Currency Translation Available- for-Sale Securities Pension and Post- Retirement Liabilities Total (in millions) Balances at July 1, 2017 $ (48.9 ) $ 2.3 $ (9.2 ) $ (55.8 ) Other comprehensive income/(loss) before reclassifications 18.3 0.3 — 18.6 Amounts reclassified from accumulated other comprehensive income/(loss) — — 0.2 0.2 Balances at September 30, 2017 $ (30.6 ) $ 2.6 $ (9.0 ) $ (37.1 ) Foreign Currency Translation Available- for-Sale Securities Pension and Post- Retirement Liabilities Total (in millions) Balances at July 1, 2016 $ (31.9 ) $ 1.3 $ (7.6 ) $ (38.2 ) Other comprehensive income/(loss) before reclassifications (11.3 ) 0.5 — (10.8 ) Amounts reclassified from accumulated other comprehensive income/(loss) — — 0.1 0.1 Balances at September 30, 2016 $ (43.2 ) $ 1.7 $ (7.5 ) $ (48.9 )

Interim Financial Data by Segme

Interim Financial Data by Segment	3 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Interim Financial Data by Segment	INTERIM FINANCIAL DATA BY SEGMENT The Company operates in two reportable segments: Investor Communication Solutions and Global Technology and Operations. See Note 1, “Basis of Presentation” for a further description of the Company’s reportable segments. The primary components of “Other” are certain gains, losses, corporate overhead expenses and non-operating expenses that have not been allocated to the reportable segments, such as interest expense. Foreign currency exchange is a reconciling item between the actual foreign currency exchange rates and the constant foreign currency exchange rates used for internal management reporting. Certain corporate expenses, as well as certain centrally managed expenses, are allocated based upon budgeted amounts in a reasonable manner. Because the Company compensates the management of its various businesses on, among other factors, segment profit, the Company may elect to record certain segment-related operating and non-operating expense items in Other rather than reflect such items in segment profit. Segment results: Revenues Three Months Ended 2017 2016 (in millions) Investor Communication Solutions $ 733.5 $ 723.3 Global Technology and Operations 207.9 187.8 Foreign currency exchange (16.5 ) (15.9 ) Total $ 924.8 $ 895.3 Earnings (Loss) before Income Taxes Three Months Ended 2017 2016 (in millions) Investor Communication Solutions $ 44.5 $ 32.9 Global Technology and Operations 46.2 38.3 Other (21.5 ) (22.8 ) Foreign currency exchange 5.2 3.2 Total $ 74.3 $ 51.5

Subsequent Event

Subsequent Event	3 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Event	SUBSEQUENT EVENT In October 2017, the Company completed the acquisition of Summit Financial Disclosure, LLC (“Summit”). Summit is a full service financial document management solutions provider, including document composition and regulatory filing services. The aggregate purchase price was $29.0 million in cash, consisting of $27.5 million in cash payments and a $1.5 million holdback for indemnity claims that may arise under the purchase agreement which will be settled with the seller in October 2018, as well as a contingent consideration arrangement with a potential maximum pay-out of $11.0 million upon the achievement in full of the defined financial targets by the acquired business. As of the date of the acquisition, the acquired net assets will be recorded at fair value in accordance with the purchase method of accounting and the results of operations of the acquired business will be included in the results of operations of the Investor Communication Solutions segment. As of the date of this filing, the preliminary purchase price allocation and fair value calculation of the contingent consideration arrangement has not been finalized.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Consolidation and Basis of Presentation Policy	Consolidation and Basis of Presentation . The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States of America (“U.S.”) and in accordance with the U.S. Securities and Exchange Commission (“SEC”) requirements for Quarterly Reports on Form 10-Q. These financial statements present the condensed consolidated position of the Company and include the entities in which the Company directly or indirectly has a controlling financial interest as well as various entities in which the Company has investments recorded under either the cost or equity methods of accounting. Intercompany balances and transactions have been eliminated.
Use of Estimates Policy	Use of Estimates . The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes thereto. These estimates are based on management’s best knowledge of current events, historical experience, actions that the Company may undertake in the future and on various other assumptions and judgment that are believed to be reasonable under the circumstances.
Subsequent Events Policy	Subsequent Events . In preparing the accompanying Condensed Consolidated Financial Statements, the Company has reviewed events that have occurred after September 30, 2017 , through the date of issuance of the Condensed Consolidated Financial Statements.
New Accounting Pronouncements Policy	In the first quarter of fiscal year 2018, the Company adopted ASU No. 2016-09. ASU No. 2016-09 identifies areas for simplification involving several aspects of accounting for share-based payment transactions, including presenting the excess tax benefit or deficit from the exercise or vesting of share-based payments in the income statement, classifying the excess tax benefit or deficit as an operating activity in the Condensed Consolidated Statements of Cash Flows rather than as a financing activity, a revision to the criteria for classifying an award as equity or liability and an option to recognize gross stock compensation expense with actual forfeitures recognized as they occur. In addition, ASU No. 2016-09 eliminates the excess tax benefit from the assumed proceeds calculation under the treasury stock method for purposes of calculating diluted shares. As a result of this adoption, the Company recorded excess tax benefits related to share-based compensation awards of $1.5 million during the three months ended September 30, 2017 in the income tax provision on a prospective basis, whereas such benefits were previously recognized in equity. The Company also excluded the excess tax benefits from the assumed proceeds available to repurchase shares in the computation of diluted earnings per share for the quarter ended September 30, 2017. The Company has not adjusted prior periods presented for the change in accounting for excess tax benefits in the Condensed Consolidated Financial Statements. The Company also elected to apply the change in presentation of excess tax benefits in the Condensed Consolidated Statement of Cash Flows prospectively, and as a result, excess tax benefits are classified as operating activities when realized through reductions to subsequent tax payments. This adoption resulted in a decrease to both net cash used in operating activities and net cash provided by financing activities of $1.5 million for the three months ended September 30, 2017. The Company has not adjusted prior periods presented for the change in classification of excess tax benefits on the Condensed Consolidated Statement of Cash Flows. The Company also elected to continue its current practice of estimating expected forfeitures as permitted by ASU No. 2016-09. In the first quarter of fiscal year 2018, the Company adopted ASU No. 2015-17 on a prospective basis to all deferred tax liabilities and assets. The amendments in ASU No. 2015-17 require entities that present a classified balance sheet to classify all deferred tax liabilities and assets as a noncurrent amount. The Company’s fiscal year 2017 Condensed Consolidated Balance Sheet has not been retrospectively adjusted for the adoption of ASU No. 2015-17. In January 2017, the FASB issued ASU No. 2017-04, “Simplifying the Accounting for Goodwill Impairment” (“ASU No. 2017-04”). ASU No. 2017-04 removes Step 2 of the current goodwill impairment test, which currently requires a hypothetical purchase price allocation if the fair value of a reporting unit were to be less than its book value, for purposes of determining the amount of goodwill impaired. Under ASU No. 2017-04, the Company would now recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds the fair value of the reporting unit; however, the loss recognized would not exceed the total amount of goodwill allocated to that reporting unit. ASU No. 2017-04 will be effective for the Company beginning in the first quarter of fiscal 2021, to be applied on a prospective basis. The pending adoption of this guidance is not expected to have a material impact on the Company’s Condensed Consolidated Financial Statements. In January 2017, the FASB issued ASU No. 2017-01, “Clarifying the Definition of a Business” (“ASU No. 2017-01”). ASU No. 2017-01 narrows the definition of a business, in part by concluding that an integrated set of assets and activities (referred to as a “set”) is not a business when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or group of similar identifiable assets. ASU No. 2017-01 is effective for the Company beginning in the first quarter of fiscal year 2019, to be applied on a prospective basis. The pending adoption of this guidance is not expected to have a material impact on the Company’s Condensed Consolidated Financial Statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases” (“ASU No. 2016-02”). Under ASU No. 2016-02, all lease arrangements, with certain limited exceptions, exceeding a twelve month term must now be recognized as assets and liabilities on the balance sheet of the lessee by recording a right-of-use asset and corresponding lease obligation generally equal to the present value of the future lease payments over the lease term. Further, the income statement will reflect lease expense for leases classified as operating and amortization/interest expense for leases classified as financing, determined using classification criteria substantially similar to the current lease guidance for distinguishing between an operating and capital lease. ASU No. 2016-02 also contains certain additional qualitative and quantitative disclosures to supplement the amounts recorded in the financial statements so that users can understand more about the nature of an entity’s leasing activities, including significant judgments and changes in judgments. ASU No. 2016-02 is effective for the Company in the first quarter of fiscal year 2020 and will be adopted on a modified retrospective basis, which will require adjustment to all comparative periods presented in the consolidated financial statements. The Company is currently evaluating the impact of the pending adoption of ASU No. 2016-02 on the Company’s Condensed Consolidated Financial Statements. In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU No. 2016-01”), which provides guidance for the recognition, measurement, presentation, and disclosure of financial assets and liabilities. Under ASU No. 2016-01, changes in the fair value of publicly traded equity securities for which the Company does not have significant influence would be recorded as part of Net earnings rather than as Other comprehensive income (loss), net. In addition, equity investments that do not have a readily determinable fair value will be recorded at cost less impairment as further adjusted for observable price changes in orderly transactions for identical or similar investments of the issuer. ASU No. 2016-01 is effective for the Company beginning in the first quarter of fiscal year 2019. The guidance in ASU No. 2016-01 related to changes in fair value of publicly traded equity securities will be adopted by means of a cumulative-effect adjustment to the balance sheet as of the beginning of fiscal year 2019, while the guidance related to equity securities without readily determinable fair values will be adopted prospectively to equity investments that exist as of the beginning of fiscal year 2019. The pending adoption of ASU No. 2016-01 is not expected to have a material impact on the Company’s Condensed Consolidated Financial Statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” (“ASU No. 2014-09”), to supersede nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU No. 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. ASU No. 2014-09 defines a five step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. ASU No. 2014-09 also requires certain enhanced disclosures, including disclosures on the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers. In August 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers - Deferral of the Effective Date,” which defers the effective date of ASU No. 2014-09 by one year, with an option that would permit companies to adopt the standard as early as the original effective date. As a result, ASU No. 2014-09 will be effective for the Company as of the first quarter of fiscal year 2019 using either of two methods: (i) retrospective to each prior reporting period presented with the option to elect certain practical expedients as defined within ASU No. 2014-09; or (ii) retrospective with the cumulative effect of initially applying ASU No. 2014-09 recognized at the date of initial application and providing certain additional disclosures as defined per ASU No. 2014-09. In March 2016, the FASB issued ASU No. 2016-08, “Principal versus Agent Considerations (Reporting Revenue Gross versus Net)” (“ASU No. 2016-08”), which provides clarifying implementation guidance to the principal versus agent provisions of ASU No. 2014-09. In April 2016, the FASB issued ASU No. 2016-10 “Identifying Performance Obligations and Licensing” (“ASU No. 2016-10”), which provides clarifying implementation guidance for applying ASU No. 2014-09 with respect to identifying performance obligations and the accounting for licensing arrangements. In May 2016, the FASB issued ASU No. 2016-12 “Narrow-Scope Improvements and Practical Expedients” (“ASU No. 2016-12”), which provides certain clarifying guidance for ASU No. 2014-09 relative to treatment of sales taxes, noncash consideration, collectibility and certain aspects of transitional guidance. In December 2016, the FASB issued ASU No. 2016-20 “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers,” which provides certain technical corrections for ASU No. 2014-09 including the impairment testing of capitalized contract costs, disclosure of remaining performance obligations, and certain other matters. Each of ASU No. 2016-08, ASU No. 2016-10, ASU No. 2016-12 and ASU No. 2016-20 have the same effective date as ASU No. 2014-09. The Company has not yet elected a transition method. While the Company is still in the process of evaluating the full impact of the pending adoption of ASU No. 2014-09 and related amendments on its Consolidated Financial Statements and related disclosures, including assessing the need for system or process changes or enhancements, the Company has identified certain expected impacts of the new standard on its Consolidated Financial Statements. Specifically, the Company expects to capitalize certain sales commissions, as well as capitalize certain additional costs that are part of setting up or converting a client’s systems to function with the Company’s technology, both of which are currently expensed. Additionally, the Company expects to recognize proxy revenue predominantly at the time of proxy distribution to the client’s shareholders rather than on the date of the client’s shareholder meeting, which is typically 30 days after the proxy distribution. Other expected changes to the timing of revenue recognition include deferral of revenue from certain transaction processing platform enhancements as well as acceleration of revenue from certain multi-year software license arrangements that are currently recognized over the term of the software subscription.
Business Combinations Policy	Assets acquired and liabilities assumed in business combinations are recorded on the Company’s Condensed Consolidated Balance Sheets as of the respective acquisition date based upon the estimated fair values at such date. The results of operations of the business acquired by the Company are included in the Company’s Condensed Consolidated Statements of Earnings since the respective date of acquisition. The excess of the purchase price over the estimated fair values of the underlying assets acquired and liabilities assumed is allocated to Goodwill.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Denominators of Basic and Diluted EPS Computations	The following table sets forth the denominators of the basic and diluted EPS computations (in millions): Three Months Ended 2017 2016 Weighted-average shares outstanding: Basic 116.5 118.5 Common stock equivalents 3.3 3.1 Diluted (1) 119.8 121.6 (1) On July 1, 2017, the Company adopted ASU No. 2016-09. See Note 2, “New Accounting Pronouncements,” for additional information related to adoption of this standard.

Interest Expense, Net (Tables)

Interest Expense, Net (Tables)	3 Months Ended
	Sep. 30, 2017
Other Income and Expenses [Abstract]
Schedule of Interest Expense, Net	Interest expense, net consisted of the following: Three Months Ended September 30, 2017 2016 (in millions) Interest expense on borrowings $ 10.0 $ 10.7 Interest income (0.6 ) (0.4 ) Interest expense, net $ 9.4 $ 10.4

Other Non-Operating (Income) 27

Other Non-Operating (Income) Expenses, Net (Tables)	3 Months Ended
	Sep. 30, 2017
Other Income and Expenses [Abstract]
Schedule of Other Non-Operating (Income) Expenses, Net	Other non-operating (income) expenses, net consisted of the following: Three Months Ended September 30, 2017 2016 (in millions) Losses from equity method investments $ 1.0 $ 1.9 Foreign currency exchange (gain) loss (0.3 ) 2.3 Other non-operating (income) expenses, net $ 0.7 $ 4.2

Fair Value of Financial Instr28

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables set forth the Company’s financial assets and liabilities at September 30, 2017 and June 30, 2017 , respectively, that are measured at fair value on a recurring basis during the period, segregated by level within the fair value hierarchy: Level 1 Level 2 Level 3 Total (in millions) Assets: Cash and cash equivalents: Money market funds (1) $ 86.5 $ — $ — $ 86.5 Other current assets: Available-for-sale securities 0.1 — — 0.1 Other non-current assets: Available-for-sale securities 60.1 — 1.1 61.2 Total assets as of September 30, 2017 $ 146.8 $ — $ 1.1 $ 147.9 Liabilities: Contingent consideration obligations: — — 8.4 8.4 Total liabilities as of September 30, 2017 $ — $ — $ 8.4 $ 8.4 Level 1 Level 2 Level 3 Total (in millions) Assets: Cash and cash equivalents: Money market funds (1) $ 37.9 $ — $ — $ 37.9 Other current assets: Available-for-sale securities 0.1 — — 0.1 Other non-current assets: Available-for-sale securities 50.6 — 1.1 51.7 Total assets as of June 30, 2017 $ 88.6 $ — $ 1.1 $ 89.8 Liabilities: Contingent consideration obligations: — — 6.7 6.7 Total liabilities as of June 30, 2017 $ — $ — $ 6.7 $ 6.7 _____________ (1) Money market funds include money market deposit account balances of $38.8 million and less than $0.1 million as of September 30, 2017 and June 30, 2017 , respectively.
Schedule of Changes in Level 3 Financial Liabilities	The following table sets forth an analysis of changes during the three months ended September 30, 2017 and 2016 , in Level 3 financial liabilities of the Company: September 30, September 30, (in millions) Beginning balance $ 6.7 $ 5.5 Additional contingent consideration incurred 1.7 — Increase in contingent consideration liability — 1.1 Foreign currency impact on contingent consideration liability (a) — (0.2 ) Payments — — Ending balance $ 8.4 $ 6.4 _____________ (a) The Foreign currency impact on contingent consideration liabilities was less than $0.1 million as of September 30, 2017 .

Other Non-Current Assets (Table

Other Non-Current Assets (Tables)	3 Months Ended
	Sep. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Non-Current Assets	Other non-current assets consisted of the following: September 30, June 30, (in millions) Deferred client conversion and start-up costs $ 168.5 $ 162.4 Deferred data center costs (a) 39.2 40.1 Long-term investments 73.2 63.4 Long-term broker fees 25.9 24.2 Other 28.6 26.4 Total $ 335.5 $ 316.4 (a) Represents deferred data center costs associated with the Company’s information technology services agreements with International Business Machines Corporation (“IBM”). Please refer to Note 13, “Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements” for a further discussion.

Accrued Expenses and Other Cu30

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Sep. 30, 2017
Other Liabilities Disclosure [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following: September 30, June 30, (in millions) Employee compensation and benefits $ 140.9 $ 221.2 Accrued broker fees 53.3 79.5 Accrued taxes 31.4 80.2 Accrued dividend payable 42.5 37.9 Customer deposits 35.1 39.5 Other 27.8 37.1 Total $ 331.0 $ 495.3

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Outstanding Borrowings	Outstanding borrowings and available capacity under the Company’s borrowing arrangements were as follows: Expiration Date Principal amount outstanding at September 30, 2017 Carrying value at September 30, 2017 Carrying value at June 30, 2017 Unused Available Capacity Fair Value at September 30, 2017 (in millions) Long-term debt Fiscal 2017 Revolving Credit Facility February 2022 $ 400.0 $ 400.0 $ 210.0 $ 600.0 $ 400.0 Fiscal 2014 Senior Notes September 2020 400.0 398.0 397.9 — 420.2 Fiscal 2016 Senior Notes June 2026 500.0 494.4 494.1 — 496.8 Total debt $ 1,300.0 $ 1,292.4 $ 1,102.1 $ 600.0 $ 1,317.0
Schedule of Future Principal Payments on Outstanding Debt	Future principal payments on the Company’s outstanding debt are as follows: Years ending June 30, 2018 2019 2020 2021 2022 Thereafter Total (in millions) $ — $ — $ — $ 400.0 $ 400.0 $ 500.0 $ 1,300.0

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Incentive Equity Awards	The activity related to the Company’s incentive equity awards for the three months ended September 30, 2017 consisted of the following: Stock Options Time-based Restricted Stock Units Performance-based Restricted Stock Units Number of Options Weighted- Average Exercise Price Number of Shares Weighted- Average Grant Date Fair Value Number of Shares Weighted- Average Grant Date Fair Value Balances at July 1, 2017 5,137,641 $ 39.63 1,074,593 $ 55.98 470,862 $ 58.26 Granted — — 8,464 73.32 — — Exercise of stock options (a) (86,608 ) 21.63 — — — — Vesting of restricted stock units — — (838 ) 52.50 (15,033 ) 54.36 Expired/forfeited (72,642 ) 37.65 (41,954 ) 51.71 (52,863 ) 34.50 Balances at September 30, 2017 (b), (c) 4,978,391 $ 39.97 1,040,265 $ 56.30 402,966 $ 61.52 ____________ (a) Stock options exercised during the period of July 1, 2017 through September 30, 2017 had an aggregate intrinsic value of $4.8 million . (b) As of September 30, 2017 , the Company’s outstanding vested and currently exercisable stock options using the September 30, 2017 closing stock price of $80.82 (approximately 2.7 million shares) had an aggregate intrinsic value of $131.0 million with a weighted-average exercise price of $31.50 and a weighted-average remaining contractual life of 5.4 years. The total of all stock options outstanding as of September 30, 2017 have a weighted-average remaining contractual life of 6.4 years. (c) As of September 30, 2017 , time-based restricted stock units and performance-based restricted stock units expected to vest using the September 30, 2017 closing stock price of $80.82 (approximately 1.0 million and 0.4 million shares, respectively) had an aggregate intrinsic value of $79.9 million and $31.3 million , respectively.

Changes in Accumulated Other 33

Changes in Accumulated Other Comprehensive Income/(Loss) by Component (Tables)	3 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Summary of Changes in Accumulated Balances for Each Component of Accumulated Other Comprehensive Income/(Loss)	The following tables summarize the changes in the accumulated balances for each component of accumulated other comprehensive income/(loss) for the three months ended September 30, 2017 , and 2016 , respectively: Foreign Currency Translation Available- for-Sale Securities Pension and Post- Retirement Liabilities Total (in millions) Balances at July 1, 2017 $ (48.9 ) $ 2.3 $ (9.2 ) $ (55.8 ) Other comprehensive income/(loss) before reclassifications 18.3 0.3 — 18.6 Amounts reclassified from accumulated other comprehensive income/(loss) — — 0.2 0.2 Balances at September 30, 2017 $ (30.6 ) $ 2.6 $ (9.0 ) $ (37.1 ) Foreign Currency Translation Available- for-Sale Securities Pension and Post- Retirement Liabilities Total (in millions) Balances at July 1, 2016 $ (31.9 ) $ 1.3 $ (7.6 ) $ (38.2 ) Other comprehensive income/(loss) before reclassifications (11.3 ) 0.5 — (10.8 ) Amounts reclassified from accumulated other comprehensive income/(loss) — — 0.1 0.1 Balances at September 30, 2016 $ (43.2 ) $ 1.7 $ (7.5 ) $ (48.9 )

Interim Financial Data by Seg34

Interim Financial Data by Segment (Tables)	3 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Results	Segment results: Revenues Three Months Ended 2017 2016 (in millions) Investor Communication Solutions $ 733.5 $ 723.3 Global Technology and Operations 207.9 187.8 Foreign currency exchange (16.5 ) (15.9 ) Total $ 924.8 $ 895.3 Earnings (Loss) before Income Taxes Three Months Ended 2017 2016 (in millions) Investor Communication Solutions $ 44.5 $ 32.9 Global Technology and Operations 46.2 38.3 Other (21.5 ) (22.8 ) Foreign currency exchange 5.2 3.2 Total $ 74.3 $ 51.5

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details)	3 Months Ended
	Sep. 30, 2017Segmentgroup
Accounting Policies [Abstract]
Number of reportable segments | Segment	2
Number of client groups | group	4

New Accounting Pronouncements N

New Accounting Pronouncements New Accounting Pronouncements (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reduction in net cash used in operating activities	$ (93.3)	$ (87.4)
Reduction in net cash provided by financing activities	(146.1)	$ (96.1)
ASU 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefits related to share-based compensation awards	1.5
Reduction in net cash used in operating activities	1.5
Reduction in net cash provided by financing activities	$ 1.5

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-diluted options related to the purchase of common stock	0.3	0

Earnings Per Share - Denominato

Earnings Per Share - Denominators of Basic and Diluted EPS Computations (Details) - shares shares in Millions	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Weighted-average shares outstanding:
Basic (in shares)	116.5	118.5
Common stock equivalents (in shares)	3.3	3.1
Diluted (in shares)	119.8	121.6

Interest Expense, Net - Compone

Interest Expense, Net - Components of Interest Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Other Income and Expenses [Abstract]
Interest expense on borrowings	$ 10	$ 10.7
Interest income	(0.6)	(0.4)
Interest expense, net	$ 9.4	$ 10.4

Other Non-Operating (Income) 40

Other Non-Operating (Income) Expenses, Net - Components of Other Non-Operating (Income) Expenses, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Other Income and Expenses [Abstract]
Losses from equity method investments	$ 1	$ 1.9
Foreign currency exchange (gain) loss	(0.3)	2.3
Other non-operating (income) expenses, net	$ 0.7	$ 4.2

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2018
Business Acquisition [Line Items]
Cash payment upon closing of acquisition		$ 0	$ 90
Obligation payable		0	5
Inveshare
Business Acquisition [Line Items]
Purchase price of acquisition	$ 95		$ 95
Cash payment upon closing of acquisition	$ 90
Obligation payable		$ 5
Scenario, Forecast | Inveshare
Business Acquisition [Line Items]
Deferred payment				$ 40

Fair Value of Financial Instr42

Fair Value of Financial Instruments - Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2017	Jun. 30, 2017
Cash and cash equivalents:
Money market funds	$ 86.5	$ 37.9
Other current assets:
Available-for-sale securities	0.1	0.1
Other non-current assets:
Available-for-sale securities	61.2	51.7
Total assets as of period end	147.9	89.8
Liabilities:
Contingent consideration obligations:	8.4	6.7
Total liabilities as of period end	8.4	6.7
Level 1
Cash and cash equivalents:
Money market funds	86.5	37.9
Other current assets:
Available-for-sale securities	0.1	0.1
Other non-current assets:
Available-for-sale securities	60.1	50.6
Total assets as of period end	146.8	88.6
Liabilities:
Contingent consideration obligations:	0	0
Total liabilities as of period end	0	0
Level 2
Cash and cash equivalents:
Money market funds	0	0
Other current assets:
Available-for-sale securities	0	0
Other non-current assets:
Available-for-sale securities	0	0
Total assets as of period end	0	0
Liabilities:
Contingent consideration obligations:	0	0
Total liabilities as of period end	0	0
Level 3
Cash and cash equivalents:
Money market funds	0	0
Other current assets:
Available-for-sale securities	0	0
Other non-current assets:
Available-for-sale securities	1.1	1.1
Total assets as of period end	1.1	1.1
Liabilities:
Contingent consideration obligations:	8.4	6.7
Total liabilities as of period end	$ 8.4	$ 6.7

Fair Value of Financial Instr43

Fair Value of Financial Instruments - Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2017	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Money market deposit account	$ 38.8	$ 0.1

Fair Value of Financial Instr44

Fair Value of Financial Instruments - Schedule of Changes in Level 3 Financial Liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 6.7	$ 5.5
Additional contingent consideration incurred	1.7	0
Increase in contingent consideration liability	0	1.1
Foreign currency impact on contingent consideration liability	0	(0.2)
Payments	0	0
Ending balance	8.4	$ 6.4
Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Foreign currency impact on contingent consideration liability	$ 0.1

Other Non-Current Assets - Sche

Other Non-Current Assets - Schedule of Other Non-Current Assets (Details) - USD ($) $ in Millions	Sep. 30, 2017	Jun. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred client conversion and start-up costs	$ 168.5	$ 162.4
Deferred data center costs	39.2	40.1
Long-term investments	73.2	63.4
Long-term broker fees	25.9	24.2
Other	28.6	26.4
Total	$ 335.5	$ 316.4

Accrued Expenses and Other Cu46

Accrued Expenses and Other Current Liabilities - Components of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2017	Jun. 30, 2017
Payables and Accruals [Abstract]
Employee compensation and benefits	$ 140.9	$ 221.2
Accrued broker fees	53.3	79.5
Accrued taxes	31.4	80.2
Accrued dividend payable	42.5	37.9
Customer deposits	35.1	39.5
Other	27.8	37.1
Total	$ 331	$ 495.3

Borrowings - Schedule of Outsta

Borrowings - Schedule of Outstanding Borrowings (Details) - USD ($)	Sep. 30, 2017	Jun. 30, 2017
Debt Instrument [Line Items]
Principal amount outstanding at September 30, 2017	$ 1,300,000,000
Long-term debt	1,292,400,000	$ 1,102,100,000
Unused Available Capacity	600,000,000
Fair Value at September 30, 2017	1,317,000,000
Fiscal 2017 Revolving Credit Facility | Revolving Credit Facility | Long-term debt
Debt Instrument [Line Items]
Principal amount outstanding at September 30, 2017	400,000,000
Long-term debt	400,000,000	210,000,000
Unused Available Capacity	600,000,000
Fair Value at September 30, 2017	400,000,000
Fiscal 2014 Senior Notes | Senior Notes | Long-term debt
Debt Instrument [Line Items]
Principal amount outstanding at September 30, 2017	400,000,000
Long-term debt	398,000,000	397,900,000
Fair Value at September 30, 2017	420,200,000
Fiscal 2016 Senior Notes | Senior Notes | Long-term debt
Debt Instrument [Line Items]
Principal amount outstanding at September 30, 2017	500,000,000
Long-term debt	494,400,000	$ 494,100,000
Fair Value at September 30, 2017	$ 496,800,000

Borrowings Borrowings - Future

Borrowings Borrowings - Future Principal Payments on the Company’s Outstanding Debt (Details)	Sep. 30, 2017USD ($)
Debt Disclosure [Abstract]
2,018	$ 0
2,019	0
2,020	0
2,021	400,000,000
2,022	400,000,000
Thereafter	500,000,000
Total	$ 1,300,000,000

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($)	Feb. 06, 2017	Aug. 14, 2014	Jun. 30, 2016	Aug. 31, 2014	Aug. 31, 2013	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017
Debt Instrument [Line Items]
Principal amount outstanding at September 30, 2017						$ 1,300,000,000
Unused available capacity						600,000,000
Outstanding borrowings						1,292,400,000		$ 1,102,100,000
Fair value, senior notes						1,317,000,000
Outstanding amount of line of credit						0		0
Revolving Credit Facility
Debt Instrument [Line Items]
Debt issuance costs remaining to be amortized, revolving credit facilities						2,600,000
Fiscal 2015 Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility maximum borrowing capacity		$ 750,000,000
Term				5 years
Debt issuance costs remaining to be amortized, revolving credit facilities						800,000
Fiscal 2012 Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Debt issuance costs remaining to be amortized, revolving credit facilities						200,000
Fiscal 2014 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal amount, senior notes					$ 400,000,000
Interest rate, senior notes					3.95%
Percentage of principal amount					99.871%
Effective interest rate, senior notes					3.971%
Debt issuance costs incurred, senior notes					$ 4,300,000
Debt issuance cost, amortization period, senior notes					7 years
Debt issuance costs remaining to be amortized, senior notes						1,700,000		1,900,000
Fiscal 2014 Senior Notes | Senior Notes | Level 1
Debt Instrument [Line Items]
Fair value, senior notes								419,100,000
Fiscal 2014 Senior Notes | Senior Notes | Long-term debt
Debt Instrument [Line Items]
Principal amount outstanding at September 30, 2017						400,000,000
Outstanding borrowings						398,000,000		397,900,000
Fair value, senior notes						$ 420,200,000
Fiscal 2017 Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility maximum borrowing capacity	$ 1,000,000,000
Term	5 years
Tranche borrowing period						360 days
Annual facility fee (as basis points)		0.125%
Annual facility fee						$ 300,000	$ 200,000
Debt issuance costs, total incurred	$ 1,800,000
Fiscal 2017 Revolving Credit Facility | Revolving Credit Facility | Long-term debt
Debt Instrument [Line Items]
Principal amount outstanding at September 30, 2017						400,000,000
Unused available capacity						600,000,000
Outstanding borrowings						400,000,000		210,000,000
Fair value, senior notes						$ 400,000,000
Fiscal 2017 Revolving Credit Facility U.S. Dollar Tranche | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility maximum borrowing capacity	900,000,000
Fiscal 2017 Revolving Credit Facility Multicurrency Tranche | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility maximum borrowing capacity	$ 100,000,000
Revolving Credit Facilities | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted-average interest rate, fiscal 2017 revolving credit facility						2.20%	1.46%
Fiscal 2016 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal amount, senior notes			$ 500,000,000
Interest rate, senior notes			3.40%
Percentage of principal amount			99.589%
Effective interest rate, senior notes			3.449%
Debt issuance costs incurred, senior notes			$ 4,500,000
Debt issuance cost, amortization period, senior notes			10 years
Debt issuance costs remaining to be amortized, senior notes						$ 3,800,000		4,000,000
Fiscal 2016 Senior Notes | Senior Notes | Level 1
Debt Instrument [Line Items]
Fair value, senior notes								494,600,000
Fiscal 2016 Senior Notes | Senior Notes | Long-term debt
Debt Instrument [Line Items]
Principal amount outstanding at September 30, 2017						500,000,000
Outstanding borrowings						494,400,000		$ 494,100,000
Fair value, senior notes						$ 496,800,000
London Interbank Offered Rate (LIBOR) | Fiscal 2017 Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Variable interest rate		1.00%

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Incentive Equity Awards (Details)	3 Months Ended
	Sep. 30, 2017$ / sharesshares
Stock Options
Number of Options
Number of Options, Beginning balance (in shares) | shares	5,137,641
Number of Options, Granted (in shares) | shares	0
Number of Options, Exercise of stock options (in shares) | shares	(86,608)
Number of Options, Expired/forfeited (in shares) | shares	(72,642)
Number of Options, Ending balance (in shares) | shares	4,978,391
Weighted-Average Exercise Price
Weighted-Average Exercise Price, Beginning balance (in dollars per share) | $ / shares	$ 39.63
Weighted-Average Exercise Price, Granted (in dollars per share) | $ / shares	0
Weighted-Average Exercise Price, Exercise of stock options (in dollars per share) | $ / shares	21.63
Weighted-Average Exercise Price, Expired/forfeited (in dollars per share) | $ / shares	37.65
Weighted-Average Exercise Price, Ending balance (in dollars per share) | $ / shares	$ 39.97
Time-based Restricted Stock Units
Number of Options
Number of Options, Beginning balance (in shares) | shares	1,074,593
Number of Options, Granted (in shares) | shares	8,464
Number of Options, Vesting of Restricted Stock Units (in shares) | shares	(838)
Number of Options, Expired/forfeited (in shares) | shares	(41,954)
Number of Options, Ending balance (in shares) | shares	1,040,265
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning balance (in dollars per share) | $ / shares	$ 55.98
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	73.32
Weighted-Average Grant Date Fair Value, Vesting of Restricted Stock Units (in dollars per share) | $ / shares	52.50
Weighted-Average Grant Date Fair Value, Expired/forfeited (in dollars per share) | $ / shares	51.71
Weighted-Average Grant Date Fair Value, Ending balance (in dollars per share) | $ / shares	$ 56.30
Performance-based Restricted Stock Units
Number of Options
Number of Options, Beginning balance (in shares) | shares	470,862
Number of Options, Granted (in shares) | shares	0
Number of Options, Vesting of Restricted Stock Units (in shares) | shares	(15,033)
Number of Options, Expired/forfeited (in shares) | shares	(52,863)
Number of Options, Ending balance (in shares) | shares	402,966
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning balance (in dollars per share) | $ / shares	$ 58.26
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	0
Weighted-Average Grant Date Fair Value, Vesting of Restricted Stock Units (in dollars per share) | $ / shares	54.36
Weighted-Average Grant Date Fair Value, Expired/forfeited (in dollars per share) | $ / shares	34.50
Weighted-Average Grant Date Fair Value, Ending balance (in dollars per share) | $ / shares	$ 61.52

Stock-Based Compensation - Su51

Stock-Based Compensation - Summary of Incentive Equity Awards - Additional Information (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Sep. 30, 2017USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic values of stock options exercised	$ 4.8
Closing stock price (in dollars per share) | $ / shares	$ 80.82
Shares, outstanding | shares	2.7
Aggregate intrinsic value	$ 131
Exercisable stock options weighted average exercise price (in dollars per share) | $ / shares	$ 31.50
Exercisable stock options, weighted average remaining contractual life	5 years 4 months 24 days
Stock options outstanding, weighted-average remaining contractual life	6 years 4 months 24 days
Time-based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price (in dollars per share) | $ / shares	$ 80.82
Shares | shares	1
Aggregate intrinsic value	$ 79.9
Performance-based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares | shares	0.4
Aggregate intrinsic value	$ 31.3

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation expense	$ 8.5	$ 8.8
Related tax benefits	3	$ 3
Unrecognized compensation cost related to non-vested stock options	7.6
Unrecognized compensation cost of restricted stock awards	$ 33.8
Amortization period of unrecognized compensation cost for non-vested stock options	2 years 26 days
Amortization period of unrecognized compensation cost for restricted stock awards		1 year 3 months 22 days

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 24.4	$ 17.9
Effective income tax rate	32.80%	34.80%

Contractual Commitments, Cont54

Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements - Additional Information (Details) $ in Millions	1 Months Ended		3 Months Ended
	Mar. 31, 2015term	Mar. 31, 2014term	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2018USD ($)
Contractual Commitments Contingencies And Off- Balance Sheet Arrangements [Line Items]
Payment to acquire equity method investment			$ 1.5	$ 1.6
Remaining capital commitment			1.3
IT Services Agreement
Contractual Commitments Contingencies And Off- Balance Sheet Arrangements [Line Items]
IT service agreement extension term	2 years
Number of renewal terms option one | term	1
Renewal term option one (in months)	12 months
Commitments under agreement			376.3
EU IT Services Agreement
Contractual Commitments Contingencies And Off- Balance Sheet Arrangements [Line Items]
Number of renewal terms option one | term		1
Renewal term option one (in months)		12 months
Commitments under agreement			$ 27.7
Number of renewal terms option two | term		1
Renewal term option two (in months)		24 months
Inveshare | Scenario, Forecast
Contractual Commitments Contingencies And Off- Balance Sheet Arrangements [Line Items]
Deferred payment					$ 40

Changes in Accumulated Other 55

Changes in Accumulated Other Comprehensive Income/(Loss) by Component - Summary of Changes in Accumulated Balances for Each Component of Accumulated Other Comprehensive Income/(Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Changes In Accumulated Other Comprehensive Income [Roll Forward]
Stockholders' equity at beginning of period	$ 1,003.8
Stockholders' equity at end of period	1,037.9
Foreign Currency Translation
Changes In Accumulated Other Comprehensive Income [Roll Forward]
Stockholders' equity at beginning of period	(48.9)	$ (31.9)
Other comprehensive income/(loss) before reclassifications	18.3	(11.3)
Amounts reclassified from accumulated other comprehensive income/(loss)	0	0
Stockholders' equity at end of period	(30.6)	(43.2)
Available- for-Sale Securities
Changes In Accumulated Other Comprehensive Income [Roll Forward]
Stockholders' equity at beginning of period	2.3	1.3
Other comprehensive income/(loss) before reclassifications	0.3	0.5
Amounts reclassified from accumulated other comprehensive income/(loss)	0	0
Stockholders' equity at end of period	2.6	1.7
Pension and Post- Retirement Liabilities
Changes In Accumulated Other Comprehensive Income [Roll Forward]
Stockholders' equity at beginning of period	(9.2)	(7.6)
Other comprehensive income/(loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income/(loss)	0.2	0.1
Stockholders' equity at end of period	(9)	(7.5)
AOCI Attributable to Parent
Changes In Accumulated Other Comprehensive Income [Roll Forward]
Stockholders' equity at beginning of period	(55.8)	(38.2)
Other comprehensive income/(loss) before reclassifications	18.6	(10.8)
Amounts reclassified from accumulated other comprehensive income/(loss)	(0.2)	0.1
Stockholders' equity at end of period	$ (37.1)	$ (48.9)

Interim Financial Data by Seg56

Interim Financial Data by Segment - Additional Information (Details)	3 Months Ended
	Sep. 30, 2017Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Interim Financial Data by Seg57

Interim Financial Data by Segment - Segment Results (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Revenues	$ 924.8	$ 895.3
Earnings (Loss) before Income Taxes	74.3	51.5
Operating Segments | Investor Communication Solutions
Segment Reporting Information [Line Items]
Revenues	733.5	723.3
Earnings (Loss) before Income Taxes	44.5	32.9
Operating Segments | Global Technology and Operations
Segment Reporting Information [Line Items]
Revenues	207.9	187.8
Earnings (Loss) before Income Taxes	46.2	38.3
Other
Segment Reporting Information [Line Items]
Earnings (Loss) before Income Taxes	(21.5)	(22.8)
Foreign currency exchange
Segment Reporting Information [Line Items]
Revenues	(16.5)	(15.9)
Earnings (Loss) before Income Taxes	$ 5.2	$ 3.2

Subsequent Event - Additional I

Subsequent Event - Additional Information (Details) - Summit - Subsequent Event $ in Millions	1 Months Ended
	Oct. 31, 2017USD ($)
Subsequent Event [Line Items]
Aggregate purchase price	$ 29
Cash payments	27.5
Holdback for indemnity claims	1.5
Potential maximum pay-out	$ 11