Broadridge Financial Solutions (BR) 10-Q 30 Oct 20 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Sep. 30, 2020	Oct. 26, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-33220
Entity Registrant Name	BROADRIDGE FINANCIAL SOLUTIONS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	33-1151291
Entity Address, Address Line One	5 Dakota Drive
Entity Address, City or Town	Lake Success
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11042
City Area Code	516
Local Phone Number	472-5400
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		115,619,479
Amendment Fag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001383312
Current Fiscal Year End Date	--06-30

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenues	$ 1,017.4	$ 948.6
Operating expenses:
Cost of revenues	787.1	727.5
Selling, general and administrative expenses	151.7	148
Total operating expenses	938.8	875.4
Operating income	78.6	73.1
Interest expense, net	(14.4)	(13.1)
Other non-operating income (expenses), net	9.5	3.8
Earnings before income taxes	73.6	63.8
Provision for income taxes	7.8	7.9
Net earnings	$ 65.8	$ 55.9
Basic earnings per share (in dollars per share)	$ 0.57	$ 0.49
Diluted earnings per share (in dollars per share)	$ 0.56	$ 0.48
Weighted-average shares outstanding:
Basic (in shares)	115.3	114.4
Diluted (in shares)	117.4	117.1

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net earnings	$ 65.8	$ 55.9
Other comprehensive income (loss), net:
Foreign currency translation adjustments	37	(8.7)
Pension and post-retirement liability adjustment, net of taxes of $(0.2) and $(0.1) for the three months ended September 30, 2020 and 2019, respectively	0.6	0.4
Total other comprehensive income (loss), net	37.6	(8.3)
Comprehensive income	$ 103.4	$ 47.6

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Pension and post-retirement liability adjustments, tax	$ (0.2)	$ (0.1)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Current assets:
Cash and cash equivalents	$ 356.6	$ 476.6
Accounts receivable, net of allowance for doubtful accounts of $7.5 and $9.8, respectively	619.1	711.3
Other current assets	144.4	140.1
Total current assets	1,120	1,328
Property, plant and equipment, net	161.7	161.6
Goodwill	1,701.4	1,674.5
Intangible assets, net	560.5	583.8
Other non-current assets	1,206.1	1,141.9
Total assets	4,749.7	4,889.8
Current liabilities:
Current portion of long-term debt	0	399.9
Payables and accrued expenses	632.3	829.9
Contract liabilities	111.6	111.2
Total current liabilities	743.9	1,341
Long-term debt	1,776.1	1,387.6
Deferred taxes	134.8	126.8
Contract liabilities	172.5	175.4
Other non-current liabilities	508.6	512.4
Total liabilities	3,335.9	3,543.2
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 115.6 and 115.1 shares outstanding, respectively	1.6	1.6
Additional paid-in capital	1,198.5	1,178.5
Retained earnings	2,302.1	2,302.6
Treasury stock, at cost: 38.8 and 39.3 shares, respectively	(2,025.5)	(2,035.7)
Accumulated other comprehensive loss	(62.9)	(100.4)
Total stockholders’ equity	1,413.8	1,346.5
Total liabilities and stockholders’ equity	$ 4,749.7	$ 4,889.8

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 7.5	$ 9.8
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)	115,600,000	115,100,000
Treasury stock, shares (in shares)	38,800,000	39,300,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash Flows From Operating Activities
Net earnings	$ 65.8	$ 55.9
Adjustments to reconcile net earnings to net cash flows used in by operating activities:
Depreciation and amortization	15.4	20.5
Amortization of acquired intangibles and purchased intellectual property	32.3	28.1
Amortization of other assets	26.3	22.8
Write-down of long-lived assets and related charges	31.7	0
Stock-based compensation expense	10.4	11.8
Deferred income taxes	4.7	7.5
Other	(16.1)	(11)
Current assets and liabilities:
Decrease in Accounts receivable, net	101.1	63.8
Increase in Other current assets	(22.2)	(33.4)
Decrease in Payables and accrued expenses	(220.6)	(190.5)
Increase (decrease) in Contract liabilities	(1.6)	3.1
Non-current assets and liabilities:
Increase in Other non-current assets	(94.6)	(74.4)
Increase in Other non-current liabilities	23.2	9.4
Net cash flows used in operating activities	(44.2)	(86.4)
Cash Flows From Investing Activities
Capital expenditures	(14.3)	(14.1)
Software purchases and capitalized internal use software	(9.7)	(6.2)
Proceeds from asset sales	18	0
Acquisitions, net of cash acquired	0	(48.1)
Other investing activities	(2.7)	(17.9)
Net cash flows used in investing activities	(8.7)	(86.3)
Cash Flows From Financing Activities
Debt proceeds	530	337.5
Debt repayments	(550)	(40)
Dividends paid	(62.2)	(55.4)
Purchases of Treasury stock	(0.8)	0
Proceeds from exercise of stock options	21.1	18.5
Other financing activities	(10.9)	(2.5)
Net cash flows provided by (used in) financing activities	(72.7)	258.1
Effect of exchange rate changes on Cash and cash equivalents	5.5	(0.2)
Net change in Cash and cash equivalents	(120)	85.1
Cash and cash equivalents, beginning of period	476.6	273.2
Cash and cash equivalents, end of period	356.6	358.3
Supplemental disclosure of cash flow information:
Cash payments made for interest	9.9	13.6
Cash payments made for income taxes, net of refunds	45.8	41.5
Non-cash investing and financing activities:
Accrual of unpaid property, plant and equipment and software	$ 6.4	$ 8.7

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) shares in Millions, $ in Millions	Total	Cumulative effect of changes in accounting principles		Common Stock	Additional Paid-In Capital	Retained Earnings	Retained EarningsCumulative effect of changes in accounting principles	[1]	Treasury Stock	Accumulated Other Comprehensive Income (Loss)
Balance (in shares) at Jun. 30, 2019				154.5
Balance at Jun. 30, 2019	$ 1,127.5	$ 0.2	[1]	$ 1.6	$ 1,109.3	$ 2,087.7	$ 0.2		$ (1,999.8)	$ (71.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	47.6					55.9				(8.3)
Stock option exercises	18.2				18.2
Stock-based compensation	11.7				11.7
Treasury stock acquired	0
Treasury stock reissued	0				(8.2)				8.2
Common stock dividends	(61.8)					(61.8)
Balance (in shares) at Sep. 30, 2019				154.5
Balance at Sep. 30, 2019	$ 1,143.4			$ 1.6	1,131.1	2,082			(1,991.6)	(79.5)
Balance (in shares) at Jun. 30, 2020	154.5			154.5
Balance at Jun. 30, 2020	$ 1,346.5	$ 0.2		$ 1.6	1,178.5	2,302.6			(2,035.7)	(100.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)	103.4					65.8				37.6
Stock option exercises	20.7				20.7
Stock-based compensation	10.3				10.3
Treasury stock acquired	(0.8)								(0.8)
Treasury stock reissued	0				(11)				11
Common stock dividends	$ (66.4)					(66.4)
Balance (in shares) at Sep. 30, 2020	154.5			154.5
Balance at Sep. 30, 2020	$ 1,413.8			$ 1.6	$ 1,198.5	$ 2,302.1			$ (2,025.5)	$ (62.9)
[1]	Primarily reflects the adoption of accounting standards as described in Note 2, “New Accounting Pronouncements.”

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Stockholders’ Equity (Parenthetical) - $ / shares shares in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Statement of Stockholders' Equity [Abstract]
Treasury stock acquired (less than) (in shares)	0.1	0.1
Treasury stock reissued (in shares)	0.5	0.4
Common stock dividends (in dollars per share)	$ 0.575	$ 0.54

Basis of Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	BASIS OF PRESENTATION A. Description of Business . Broadridge Financial Solutions, Inc. (“Broadridge” or the “Company”), a Delaware corporation and a part of the S&P 500 ® Index, is a global financial technology leader providing investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers and corporate issuers. Broadridge’s services include investor communications, securities processing, data and analytics, and customer communications solutions. Broadridge serves a large and diverse client base across four client groups: banks/broker-dealers, asset management firms/mutual funds, wealth management firms, and corporate issuers. For capital markets firms, Broadridge helps clients lower costs and improve the effectiveness of their trade and account processing operations with support for their operational technologies, and their administration, finance, risk and compliance requirements. Broadridge serves asset management firms by meeting their critical needs for shareholder communications and by providing investment operations technology to support their investment decisions. For wealth management clients, Broadridge provides an integrated platform with tools that optimize advisor productivity, enhance client experience and digitize enterprise operations. For corporate issuer clients, Broadridge helps manage every aspect of their shareholder communications, including registered and beneficial proxy processing, annual meeting support, transfer agency services and financial disclosure document creation, management and United States of America (“U.S.”) Securities and Exchange Commission (the “SEC”) filing services. The Company operates in two reportable segments: Investor Communication Solutions (“ICS”) and Global Technology and Operations (“GTO”). • Investor Communication Solutions —Broadridge provides governance and communications solutions through its Investor Communication Solutions business segment to the following financial services clients: banks/broker-dealers, asset management firms/mutual funds, wealth management firms and corporate issuers. In addition to financial services firms, Broadridge’s Customer Communications business also serves companies in the healthcare, insurance, consumer finance, telecommunications, utilities, and other service industries. A large portion of Broadridge’s ICS 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 ® (“ProxyEdge”) is Broadridge’s innovative electronic proxy delivery and voting solution for institutional investors and financial advisors that helps ensure the voting participation of the largest stockholders of many companies. Broadridge also provides the distribution of regulatory reports and corporate action/reorganization event information, as well as tax reporting solutions that help its clients meet their regulatory compliance needs. For asset managers and retirement service providers, Broadridge offers data-driven solutions and an end-to-end platform for content management, composition, and multi-channel distribution of regulatory, marketing, and transactional information. Broadridge’s data and analytics solutions provide investment product distribution data, analytical tools, insights, and research to enable asset managers to optimize product distribution across retail and institutional channels globally. Through Matrix Financial Solutions, Inc. (“Matrix”), Broadridge provides mutual fund trade processing services for retirement service providers, third-party administrators, financial advisors, banks and wealth management professionals. In addition, Broadridge provides public corporations and mutual funds with a full suite of solutions to help manage their annual meeting process, including registered and beneficial proxy distribution and processing services, proxy and annual report document management solutions, virtual shareholder meeting services and solutions that help them gain insight into their shareholder base through Broadridge’s shareholder data services. Broadridge also offers financial reporting document composition and management solutions, SEC disclosure and filing services, and registrar, stock transfer and record-keeping services through Broadridge Corporate Issuer Solutions. We provide customer communications solutions which include print and digital solutions, content management, postal optimization, and fulfillment services. These services include customer communications management capabilities through the Broadridge Communications Cloud SM platform (the “Communications Cloud”). Through one point of integration, the Communications Cloud helps companies create, deliver, and manage multi-channel communications and customer engagement. The platform includes data-driven composition tools, identity and preference management, multi-channel optimization and digital communication experience, archive and information management, digital and print delivery, and analytics and reporting tools. • Global Technology and Operations —Broadridge is a leading global provider of securities processing solutions for capital markets, wealth management, and asset management firms. Broadridge offers advanced solutions that automate the securities transaction lifecycle, from desktop productivity tools, data aggregation, performance reporting, and portfolio management to order capture and execution, trade confirmation, margin, cash management, clearance and settlement, asset servicing, reference data management, reconciliations, securities financing and collateral optimization, compliance and regulatory reporting, and portfolio accounting and custody-related services. Broadridge’s core post-trade services help financial institutions 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-asset, multi-market, multi-entity and multi-currency solutions support real-time global trade processing of equity, fixed income, mutual fund, foreign exchange, and exchange traded derivatives. Broadridge’s comprehensive wealth management platform offers capabilities across the entire wealth management lifecycle and streamlines all aspects of wealth management services, including account management, fee management and client on-boarding. The wealth management platform enables full-service, regional and independent broker-dealers and investment advisors to better engage with customers through digital marketing and customer communications tools. Broadridge also integrates data, content and technology to drive new customer acquisition, support holistic advice and cross-sell opportunities through the creation of sales and educational content, including seminars as well as customizable advisor websites, search engine marketing and electronic and print newsletters. Broadridge’s advisor solutions help advisors optimize their practice management through customer and account data aggregation and reporting. Broadridge offers buy-side technology solutions for the global investment management industry, including portfolio management, compliance and operational workflow solutions for hedge funds, family offices, investment managers and the providers that service this space. Through Broadridge’s Managed Services, Broadridge provides business process outsourcing services that support the entire trade lifecycle operations of its buy- and sell-side clients’ businesses through a combination of its technology and operations expertise. Broadridge also provides support for advisor, investor and compliance workflow. 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 U.S. and in accordance with 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 the equity method of accounting as well as certain marketable and non-marketable securities. 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, 2020 filed on August 11, 2020 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, 2020 and June 30, 2020, the results of its operations for the three months ended September 30, 2020 and 2019, its cash flows for the three months ended September 30, 2020 and 2019, and its changes in stockholders’ equity for the three months ended September 30, 2020 and 2019. Certain prior period amounts have been reclassified to conform to the current year presentation where applicable. C. Securities . Securities are non-derivatives that are reflected in Other non-current assets in the Condensed Consolidated Balance Sheets, unless management intends to dispose of the investment within twelve months of the end of the reporting period, in which case they are reflected in Other current assets in the Condensed Consolidated Balance Sheets. These investments are in entities over which the Company does not have control, joint control, or significant influence. Securities that have a readily determinable fair value are carried at fair value. Securities without a readily determinable fair value are initially recognized at cost and subsequently carried at cost minus impairment, if any, plus or minus changes resulting from observable price changes in transactions for an identical or similar investment of the same issuer, such as subsequent capital raising transactions. Changes in the value of securities with or without a readily determinable fair value are recorded in the Condensed Consolidated Statements of Earnings. In determining whether a security without a readily determinable fair value is impaired, management considers qualitative factors to identify an impairment including the financial condition and near-term prospects of the issuer. D. 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. The use of estimates in specific accounting policies is described further in the notes to the Condensed Consolidated Financial Statements, as appropriate.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Sep. 30, 2020
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	NEW ACCOUNTING PRONOUNCEMENTS Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, as subsequently amended by ASU No. 2018-10, “Codification Improvements to Topic 842, Leases,” ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements,” and ASU No. 2018-20, “Leases (Topic 842): Narrow Scope Improvements for Lessors” (collectively referred to herein as “ASU No. 2016-02, as amended”). Under ASU No. 2016-02, as amended, 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 ROU 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, as amended, 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, as amended, was effective for the Company in the first quarter of fiscal year 2020 and could have been adopted using either a modified retrospective basis which required adjustment to all comparative periods presented in the consolidated financial statements, or by recognizing a cumulative-effect adjustment to the opening balance of retained earnings at the date of initial application. Accordingly, in the first quarter of fiscal year 2020, the Company adopted ASU No. 2016-02, as amended, by recognizing a ROU asset and corresponding lease liability, along with a cumulative-effect adjustment to the opening balance of retained earnings, in the period of adoption. Under this method of adoption, the Company has not restated the prior period Condensed Consolidated Financial Statements presented to the current period presentation. The Company elected the transition package of three practical expedients permitted under the transition guidance in ASU No. 2016-02, as amended, to not reassess prior conclusions related to whether (i) a contract contains a lease, (ii) the classification of an existing lease, and (iii) the accounting for initial direct costs. The Company also elected accounting policies to (i) not separate the non-lease components of a contract from the lease component to which they relate, and (ii) not recognize assets or liabilities for leases with a term of twelve months or less and no purchase option that the Company is reasonably certain of exercising. On the Condensed Consolidated Balance Sheet as of July 1, 2019, the adoption of ASU No. 2016-02, as amended, resulted in the recognition of lease liabilities of $252.0 million and ROU assets of $235.4 million, which include the impact of existing deferred rents and tenant improvement allowances for operating leases, as well as a cumulative-effect adjustment to the opening balance of retained earnings of $0.2 million. The adoption of ASU No. 2016-02, as amended, did not have a material impact on the Condensed Consolidated Statements of Earnings, the Condensed Consolidated Statements of Comprehensive Income, the Condensed Consolidated Statements of Cash Flows, or the Condensed Consolidated Statements of Stockholders’ Equity. In August 2018, the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract” (“ASU No. 2018-15”), which aligns the requirements for capitalizing implementation costs incurred in a cloud computing hosting arrangement that is a service contract with the requirements under GAAP for capitalizing implementation costs incurred to develop or obtain internal-use software. ASU No. 2018-15 became effective for the Company beginning in the first quarter of fiscal year 2021. Entities are permitted to apply either a retrospective or prospective transition approach to adopt the guidance, for which the Company elected to adopt ASU No. 2018-15 on a prospective basis. The adoption of ASU No. 2018-15 did not have a material impact on the Company's Condensed Consolidated Financial Statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION ASU No. 2014-09, “Revenue from Contracts with Customers” (“ASU No. 2014-09”) outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers. The core principle is that an entity recognizes revenue to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company’s revenues from clients are primarily generated from fees for providing investor communications and technology-enabled services and solutions. Revenues are recognized for the two reportable segments as follows: • Investor Communication Solutions —Revenues are generated primarily from processing and distributing investor communications and other related services as well as vote processing and tabulation. The Company typically enters into agreements with clients to provide services on a fee for service basis. Fees received for processing and distributing investor communications are generally variably priced and recognized as revenue over time as the Company provides the services to clients based on the number of units processed, which coincides with the pattern of value transfer to the client. Broadridge works directly with corporate issuers (“Issuers”) and mutual funds to ensure that the account holders of the Company’s bank and broker clients, who are also the shareholders of Issuers and mutual funds, receive the appropriate investor communications materials and the services are fulfilled in accordance with each Issuer’s and mutual fund’s requirements. Broadridge works directly with the Issuers and mutual funds to resolve any issues that may arise. As such, Issuers and mutual funds are viewed as the customer of the Company’s services. As a result, revenues for distribution services as well as proxy materials fulfillment services are recorded in Revenue on a gross basis with corresponding costs including amounts remitted to the broker-dealers and banks (referred to as “Nominees”) recorded in Cost of revenues. Fees for the Company’s investor communications services arrangements are typically billed and paid on a monthly basis following the delivery of the services. The Company also offers certain hosted service arrangements that can be priced on a fixed and/or variable basis for which revenue is recognized over time as the Company satisfies its performance obligation by delivering services to the client on a monthly basis based on the number of transactions processed or units delivered, in the case of variable priced arrangements, or a fixed monthly fee in the case of fixed price arrangements, in each case which coincides with the pattern of value transfer to the client. These services may be billed in a variety of payment frequencies depending on the specific arrangement. • Global Technology and Operations —Revenues are generated primarily from fees for trade processing and related services. Revenue is recognized over time as the Company satisfies its performance obligation by delivering services to the client. The Company’s arrangements for processing and related services typically consist of an obligation to provide specific services to its clients on a when and if needed basis (a stand ready obligation) with revenue recognized from the satisfaction of the performance obligations on a monthly basis generally in the amount billable to the client. These services are generally provided under variable priced arrangements based on volume of service and can include minimum monthly usage fees. Client service agreements often include up-front consideration in addition to the recurring fee for trade processing. Up-front implementation fees, as well as certain enhancements to existing technology platforms, are deferred and recognized on a straight-line basis over the service term of the contract which corresponds to the timing of transfer of value to the client that commences after client acceptance when the processing term begins. In addition, revenue is also generated from the fulfillment of professional services engagements which are generally priced on a time and materials or fixed price basis, and are recognized as the services are provided to the client which corresponds to the timing of transfer of value to the client. Finally, the Company recognizes license revenues from software term licenses installed on clients’ premises upon delivery and acceptance of the software license, assuming a contract is deemed to exist. Software term license revenue is not a significant portion of the Company’s revenues. The Company uses the following methods, inputs, and assumptions in determining amounts of revenue to recognize: Transaction Price The Company allocates transaction price to the individual performance obligations within a contract. If the contracted prices reflect the relative standalone selling prices for the individual performance obligations, no allocations are made. Otherwise, the Company uses the relative selling price method to allocate the transaction price, obtained from sources such as the observable price of a good or service when the Company sells that good or service separately in similar circumstances and to similar clients. If such evidence is unavailable, the Company uses the best estimate of the selling price, which includes various internal factors such as pricing strategy and market factors. A significant portion of the Company’s performance obligations are generated from transactions with volume based fees and includes services that are delivered at the same time. The Company recognizes revenue related to these arrangements over time as the services are provided to the client. While many of the Company’s contracts contain some component of variable consideration, the Company only recognizes variable consideration that is not expected to reverse. The Company allocates variable payments to distinct services in an overall contract when the variable payment relates specifically to that particular service and for which the variable payment reflects what the Company expects to receive in exchange for that particular service. As a result, the Company generally allocates and recognizes variable consideration in the period it has the contractual right to invoice the client. As described above, our most significant performance obligations involve variable consideration which constitutes the majority of our revenue streams. The Company’s variable consideration components meet the criteria in ASU No. 2014-09 for exclusion from disclosure of the remaining transaction price allocated to unsatisfied performance obligations as does any contracts with clients with an original duration of one year or less. The Company has contracts with clients that vary in length depending on the nature of the services and contractual terms negotiated with the client, and they generally extend over a multi-year period. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a client, are excluded from revenue. Distribution revenues associated with shipping and handling activities are accounted for as a fulfillment activity and recognized as the related services or products are transferred to the client. As a practical expedient, the Company does not adjust the transaction price for the effects of a significant financing component if, at contract inception, the period between client payment and the transfer of goods or services is expected to be one year or less. Disaggregation of Revenue The Company has presented below its revenue disaggregated by product line and by revenue type within each of its Investor Communication Solutions and Global Technology and Operations reportable segments. Fee revenues in the Investor Communication Solutions segment are derived from both recurring and event-driven activity. In addition, the level of recurring and event-driven activity the Company processes directly impacts distribution revenues. While event-driven activity is highly repeatable, it may not recur on an annual basis. Event-driven fee revenues are based on the number of special events and corporate transactions the Company processes. Event-driven activity is impacted by financial market conditions and changes in regulatory compliance requirements, resulting in fluctuations in the timing and levels of event-driven fee revenues. Distribution revenues primarily include revenues related to the physical mailing and distribution of proxy materials, interim communications, transaction reporting, customer communications and fulfillment services, as well as Matrix administrative services. Three Months Ended 2020 2019 (In millions) Investor Communication Solutions Equity proxy $ 40.1 $ 29.8 Mutual fund and exchange traded funds (“ETF”) interims 73.6 65.3 Customer communications and fulfillment 173.5 170.9 Other ICS 88.0 83.2 Total ICS Recurring fee revenues 375.2 349.2 Equity and other 18.3 17.5 Mutual funds 27.2 22.6 Total ICS Event-driven fee revenues 45.5 40.1 Distribution revenues 332.2 313.3 Total ICS Revenues $ 752.9 $ 702.6 Global Technology and Operations Equities and other $ 252.4 $ 230.9 Fixed income 43.6 43.1 Total GTO Recurring fee revenues 296.0 273.9 Foreign currency exchange (31.5) (28.0) Total Revenues $ 1,017.4 $ 948.6 Revenues by Type Recurring fee revenues $ 671.2 $ 623.2 Event-driven fee revenues 45.5 40.1 Distribution revenues 332.2 313.3 Foreign currency exchange (31.5) (28.0) Total Revenues $ 1,017.4 $ 948.6 Contract Balances The following table provides information about contract assets and liabilities: September 30, 2020 June 30, 2020 (In millions) Contract assets $ 85.8 $ 81.9 Contract liabilities $ 284.1 $ 286.6 Contract assets result from revenue already recognized but not yet invoiced, including certain future amounts to be collected under software term licenses and certain other client contracts. Contract liabilities represent consideration received or receivable from clients before the transfer of control occurs (deferred revenue). Contract balances are reported in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period. During the three months ended September 30, 2020, contract assets increased primarily due to an increase in software term license revenues recognized but not yet invoiced, while contract liabilities decreased due to the timing of client payments vis-a-vis the timing of revenue recognized. The Company recognized $85.1 million of revenue during the three months ended September 30, 2020 that was included in the contract liability balance as of June 30, 2020.

Weighted-Average Shares Outstan

Weighted-Average Shares Outstanding	3 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Weighted-Average Shares Outstanding	WEIGHTED-AVERAGE SHARES OUTSTANDING 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. The computation of diluted EPS excluded less than 0.1 million options to purchase Broadridge common stock for the three months ended September 30, 2020, as the effect of their inclusion would have been anti-dilutive. For the three months ended September 30, 2019, 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 2020 2019 Weighted-average shares outstanding: Basic 115.3 114.4 Common stock equivalents 2.1 2.7 Diluted 117.4 117.1

Interest Expense, Net

Interest Expense, Net	3 Months Ended
	Sep. 30, 2020
Other Income and Expenses [Abstract]
Interest Expense, Net	INTEREST EXPENSE, NET Interest expense, net consisted of the following: Three Months Ended 2020 2019 (In millions) Interest expense on borrowings $ (15.0) $ (14.2) Interest income 0.6 1.0 Interest expense, net $ (14.4) $ (13.1)

Acquisitions

Acquisitions	3 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS 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. Pro forma supplemental financial information for all acquisitions is not provided as the impact of these acquisitions on the Company’s operating results was not material for any acquisition individually or in the aggregate. During the three months ended September 30, 2020, there were no acquisitions. The following represents the fiscal year 2020 acquisitions: Fiscal Year 2020 Acquisitions: BUSINESS COMBINATIONS Financial information on each transaction is as follows: Shadow Financial Fi360 Clear-Structure Funds-Library Total (In millions) Cash payments, net of cash acquired $ 35.6 $ 116.0 $ 59.1 $ 69.6 $ 280.3 Deferred payments, net 2.9 3.5 2.6 — 9.0 Contingent consideration liability — — 7.0 — 7.0 Aggregate purchase price $ 38.5 $ 119.5 $ 68.7 $ 69.6 $ 296.3 Net tangible assets acquired / (liabilities assumed) $ (0.2) $ (7.9) $ 0.6 $ (3.2) $ (10.7) Goodwill 17.6 84.4 44.2 39.0 185.2 Intangible assets 21.1 43.1 23.9 33.8 121.8 Aggregate purchase price $ 38.5 $ 119.5 $ 68.7 $ 69.6 $ 296.3 Shadow Financial Systems, Inc. ( “ Shadow Financial ” ) In October 2019, the Company acquired Shadow Financial, a provider of multi-asset class post-trade solutions for the capital markets industry. The acquisition built upon Broadridge ’ s post-trade processing capabilities by adding a market-ready solution for exchanges, inter-dealer brokers and proprietary trading firms. In addition, the acquisition has added capabilities across exchange traded derivatives and cryptocurrency. Shadow Financial is included in our GTO reportable segment. • Goodwill is tax deductible. • Intangible assets acquired consist primarily of customer relationships and software technology, which are being amortized over a seven five Fi360, Inc. ( “ Fi360 ” ) In November 2019, the Company acquired Fi360, a provider of fiduciary and Regulation Best Interest solutions for the wealth and retirement industry, including the accreditation and continuing education for the Accredited Investment Fiduciary ® Designation, the leading designation focused on fiduciary responsibility. The acquisition has enhanced Broadridge’s retirement solutions by providing wealth and retirement advisors with fiduciary tools that complement its Matrix trust and trading platform. The acquisition has also further strengthened Broadridge’s data and analytics tools and solutions suite that enable asset managers to grow their businesses by providing greater transparency into the retirement market. Fi360 is included in our ICS reportable segment. • Goodwill is not tax deductible. • Intangible assets acquired consist primarily of customer relationships and software technology, which are being amortized over a seven five The allocation of the purchase price will be finalized upon completion of the analysis of the fair values of the acquired business' assets and liabilities. ClearStructure Financial Technology, LLC ( “ ClearStructure ” ) In November 2019, the Company acquired ClearStructure, a global provider of portfolio management solutions for the private debt markets. ClearStructure’s component services has enhanced Broadridge’s existing multi-asset class, front-to-back office asset management technology suite, providing Broadridge clients with a capability to access the public and private markets. ClearStructure is included in our GTO reportable segment. • The contingent consideration liability is payable through fiscal year 2023 upon the achievement by the acquired business of certain revenue targets, and has a maximum potential pay-out of $12.5 million upon the achievement in full of the defined financial targets by the acquired business. • The fair value of the contingent consideration liability at September 30, 2020 is $7.0 million. • Goodwill is primarily tax deductible. • Intangible assets acquired consist primarily of customer relationships and software technology, which are being amortized over a seven five The allocation of the purchase price will be finalized upon completion of the analysis of the fair values of the acquired business’ assets and liabilities, and is still subject to a working capital adjustment. FundsLibrary Limited (“FundsLibrary”) In February 2020, the Company acquired FundsLibrary, a provider of fund document and data dissemination in the European market. FundsLibrary's solutions enable fund managers to increase distribution opportunities and help them comply with regulations such as Solvency II and MiFID II. The business was combined with FundAssist, Broadridge's existing European funds regulatory communications business. The combination of FundsLibrary's data platform and technology with Broadridge's existing fund calculation, document creation and translation capabilities, creates an end-to-end solution for fund managers and distributors, enabling them to respond to demanding regulatory requirements across multiple jurisdictions. FundsLibrary is included in our ICS reportable segment. • Goodwill is not tax deductible. • Intangible assets acquired consist primarily of customer relationships and software technology, which are being amortized over a seven three The allocation of the purchase price will be finalized upon completion of the analysis of the fair values of the acquired business’ assets and liabilities, and is still subject to a working capital adjustment.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Sep. 30, 2020
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, as applicable, 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 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, 2020 and June 30, 2020, respectively, that are recorded at fair value, segregated by level within the fair value hierarchy: September 30, 2020 Level 1 Level 2 Level 3 Total (In millions) Assets: Cash and cash equivalents: Money market funds (a) $ 120.0 $ — $ — $ 120.0 Other current assets: Securities 0.4 — — 0.4 Other non-current assets: Securities 108.5 — — 108.5 Total assets as of September 30, 2020 $ 229.0 $ — $ — $ 229.0 Liabilities: Contingent consideration obligations — — 23.7 23.7 Total liabilities as of September 30, 2020 $ — $ — $ 23.7 $ 23.7 June 30, 2020 Level 1 Level 2 Level 3 Total (In millions) Assets: Cash and cash equivalents: Money market funds (a) $ 150.1 $ — $ — $ 150.1 Other current assets: Securities 0.5 — — 0.5 Other non-current assets: Securities 102.0 — — 102.0 Total assets as of June 30, 2020 $ 252.7 $ — $ — $ 252.7 Liabilities: Contingent consideration obligations — — 33.1 33.1 Total liabilities as of June 30, 2020 $ — $ — $ 33.1 $ 33.1 _________ (a) Money market funds include money market deposit account balances of $120.0 million and $150.1 million as of September 30, 2020 and June 30, 2020, respectively. In addition, the Company has non-marketable securities with a carrying amount of $44.8 million and $33.3 million as of September 30, 2020 and June 30, 2020, respectively, that are classified as Level 2 financial assets and included as part of Other non-current assets on the Condensed Consolidated Balance Sheets. The following table sets forth an analysis of changes during the three months ended September 30, 2020 and 2019, respectively, in Level 3 financial liabilities of the Company: Three Months Ended September 30, 2020 2019 (In millions) Beginning balance $ 33.1 $ 28.4 Foreign currency impact on contingent consideration liability 1.4 (0.4) Payments (10.7) (1.5) Ending balance $ 23.7 $ 26.5

Other Non-Current Assets

Other Non-Current Assets	3 Months Ended
	Sep. 30, 2020
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, 2020 June 30, 2020 (In millions) Deferred client conversion and start-up costs $ 499.4 $ 433.8 ROU assets (a) 264.5 292.6 Long-term investments 159.4 141.6 Deferred sales commissions costs 100.1 104.4 Contract assets (b) 85.8 81.9 Long-term broker fees 43.5 32.8 Deferred data center costs (c) 24.4 24.5 Other 28.9 30.2 Total $ 1,206.1 $ 1,141.9 _________ (a) ROU assets represent the Company’s right to use an underlying asset for the lease term. (b) Contract assets result from revenue already recognized but not yet invoiced, including certain future amounts to be collected under software term licenses and certain other client contracts. (c) Represents deferred data center costs associated with the Company’s information technology services agreements with International Business Machines Corporation (“IBM”). Please refer to Note 14, “Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements” for a further discussion. The total amount of deferred client conversion and start-up costs and deferred sales commission costs amortized in Operating expenses during the three months ended September 30, 2020 and 2019, were $18.7 million and $17.3 million, respectively.

Payables and Accrued Expenses

Payables and Accrued Expenses	3 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Payables and Accrued Expenses	PAYABLES AND ACCRUED EXPENSES Payables and accrued expenses consisted of the following: September 30, 2020 June 30, 2020 (In millions) Accounts payable $ 120.0 $ 151.8 Employee compensation and benefits 156.6 260.4 Accrued dividend payable 66.4 62.2 Accrued broker fees 65.2 109.5 Managed services administration fees 56.0 59.4 Operating lease liabilities 40.7 35.3 Customer deposits 36.7 44.5 Accrued taxes 22.5 38.5 Other 68.3 68.6 Total $ 632.3 $ 829.9

Borrowings

Borrowings	3 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Borrowings	BORROWINGS Outstanding borrowings and available capacity under the Company’s borrowing arrangements were as follows: Expiration Principal amount outstanding at September 30, 2020 Carrying value at September 30, 2020 Carrying value at June 30, 2020 Unused Fair Value at September 30, 2020 (In millions) Current portion of long-term debt Fiscal 2014 Senior Notes (a) September 2020 $ — $ — $ 399.9 $ — $ — Total $ — $ — $ 399.9 $ — $ — Long-term debt, excluding current portion Fiscal 2019 Revolving Credit Facility: U.S. dollar tranche March 2024 $ 380.0 $ 380.0 $ — $ 720.0 $ 380.0 Multicurrency tranche March 2024 157.9 157.9 149.8 242.1 157.9 Total Revolving Credit Facility 537.9 537.9 149.8 962.1 537.9 Fiscal 2016 Senior Notes June 2026 500.0 496.3 496.1 — 558.5 Fiscal 2020 Senior Notes December 2029 750.0 741.9 741.7 — 815.7 Total Senior Notes 1,250.0 1,238.2 1,237.8 — 1,374.2 Total long-term debt $ 1,787.9 $ 1,776.1 $ 1,387.6 $ 962.1 $ 1,912.2 Total debt $ 1,787.9 $ 1,776.1 $ 1,787.5 $ 962.1 $ 1,912.2 _________ (a) On September 1, 2020, the Company repaid in full the $400.0 million in Fiscal 2014 Senior Notes that were outstanding at their maturity date. Future principal payments on the Company’s outstanding debt are as follows: Years ending June 30, 2021 2022 2023 2024 2025 Thereafter Total (in millions) $ — $ — $ — $ 537.9 $ — $ 1,250.0 $ 1,787.9 Fiscal 2019 Revolving Credit Facility: On March 18, 2019, the Company entered into an amended and restated $1.5 billion five five The weighted-average interest rate on the Revolving Credit Facilities was 1.22% for the three months ended September 30, 2020 and 3.12% for the three months ended September 30, 2019. The fair value of the variable-rate Fiscal 2019 Revolving Credit Facility borrowings at September 30, 2020 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 2019 Revolving Credit Facility can be made in tranches up to 360 days and bear interest at LIBOR plus 101.5 basis points. In addition, the Fiscal 2019 Revolving Credit Facility has an annual facility fee equal to 11.0 basis points on the entire facility. The Company may voluntarily prepay, in whole or in part and without premium or penalty, borrowings under the Fiscal 2019 Revolving Credit Facility in accordance with individual drawn loan maturities. The Fiscal 2019 Revolving Credit Facility is subject to certain covenants, including a leverage ratio. At September 30, 2020, the Company is in compliance with all covenants of the Fiscal 2019 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”). On September 1, 2020, the Company repaid in full the $400.0 million in Fiscal 2014 Senior Notes that were outstanding at their maturity date. 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, 2020, 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 Company may redeem the Fiscal 2016 Senior Notes in whole or in part at any time before their maturity. The fair value of the fixed-rate Fiscal 2016 Senior Notes at September 30, 2020 and June 30, 2020 was $558.5 million and $554.3 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 2020 Senior Notes: In December 2019, the Company completed an offering of $750.0 million in aggregate principal amount of senior notes (the “Fiscal 2020 Senior Notes”). The Fiscal 2020 Senior Notes will mature on December 1, 2029 and bear interest at a rate of 2.90% per annum. Interest on the Fiscal 2020 Senior Notes is payable semi-annually in arrears on June 1 and December 1 of each year. The Fiscal 2020 Senior Notes were issued at a price of 99.717% (effective yield to maturity of 2.933%). The indenture governing the Fiscal 2020 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, 2020, the Company is in compliance with the covenants of the indenture governing the Fiscal 2020 Senior Notes. The indenture also contains covenants regarding the purchase of the Fiscal 2020 Senior Notes upon a change of control triggering event. The Company may redeem the Fiscal 2020 Senior Notes in whole or in part at any time before their maturity. The fair value of the fixed-rate Fiscal 2020 Senior Notes at September 30, 2020 was $815.7 million, 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 2019 Revolving Credit Facility, Fiscal 2016 Senior Notes and Fiscal 2020 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, 2020 and June 30, 2020, there were no outstanding borrowings under these lines of credit.

Other Non-Current Liabilities

Other Non-Current Liabilities	3 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Other Non-Current Liabilities	OTHER NON-CURRENT LIABILITIES Other non-current liabilities consisted of the following: September 30, 2020 June 30, 2020 (In millions) Operating lease liabilities $ 268.7 $ 288.3 Post-employment retirement obligations 150.7 144.3 Non-current income taxes 38.3 37.4 Acquisition related contingencies 15.3 17.6 Other 35.7 24.8 Total $ 508.6 $ 512.4 The Company sponsors a Supplemental Officer Retirement Plan (the “Broadridge SORP”). The Broadridge SORP is a nonqualified ERISA defined benefit plan pursuant to which the Company will pay supplemental pension benefits to certain key officers upon retirement based upon the officers’ years of service and compensation. The Broadridge SORP was closed to new participants beginning in fiscal year 2015. The Company also sponsors a Supplemental Executive Retirement Plan (the “Broadridge SERP”). The Broadridge SERP is also a nonqualified ERISA defined benefit plan pursuant to which the Company will pay supplemental pension benefits to certain key executives upon retirement based upon the executives’ years of service and compensation. The Broadridge SERP was closed to new participants beginning in fiscal year 2015. The SORP and SERP are effectively funded with assets held in a Rabbi Trust. The assets invested in the Rabbi Trust are to be used in part to fund benefit payments to participants under the terms of the plans. The Rabbi Trust is irrevocable and no portion of the trust funds may be used for any purpose other than the delivery of those assets to the participants, except that assets held in the Rabbi Trust would be subject to the claims of the Company’s general creditors in the event of bankruptcy or insolvency of the Company. The Broadridge SORP and SERP are nonqualified plans for federal tax purposes and for purposes of Title I of ERISA. The Rabbi Trust assets had a value of $56.5 million at September 30, 2020 and $54.5 million at June 30, 2020 and are included in Other non-current assets in the accompanying Condensed Consolidated Balance Sheets. The SORP and the SERP had a total benefit obligation of $60.5 million at September 30, 2020 and $59.8 million at June 30, 2020 and are included in Other non-current liabilities in the accompanying Condensed Consolidated Balance Sheets.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION The activity related to the Company’s incentive equity awards for the three months ended September 30, 2020 consisted of the following: Stock Options Time-based Performance-based Number of Weighted- Number Weighted- Number Weighted- Balances at July 1, 2020 3,770,787 $ 74.97 699,998 $ 111.37 251,596 $ 122.11 Granted — — 45,103 133.55 23,964 121.58 Exercise of stock options (a) (474,356) 43.69 — — — — Vesting of restricted stock units — — (903) 122.83 (11,837) 75.82 Expired/forfeited (106,874) 101.71 (15,254) 119.41 (17,378) 122.64 Balances at September 30, 2020 (b),(c) 3,189,557 $ 78.73 728,944 $ 112.56 246,345 $ 124.24 ____________ (a) Stock options exercised during the period of July 1, 2020 through September 30, 2020 had an aggregate intrinsic value of $43.2 million. (b) As of September 30, 2020, the Company’s outstanding vested and currently exercisable stock options using the September 30, 2020 closing stock price of $132.00 (approximately 1.5 million shares) had an aggregate intrinsic value of $115.7 million with a weighted-average exercise price of $57.35 and a weighted-average remaining contractual life of 4.9 years. The total of all stock options outstanding as of September 30, 2020 have a weighted-average remaining contractual life of 6.5 years. (c) As of September 30, 2020, time-based restricted stock units and performance-based restricted stock units expected to vest using the September 30, 2020 closing stock price of $132.00 (approximately 0.7 million and 0.2 million shares, respectively) had an aggregate intrinsic value of $91.8 million and $31.0 million, respectively. Performance-based restricted stock units granted in the table above represent initial target awards, and performance adjustments for (i) change in shares issued based upon attainment of performance goals determined in the period, and (ii) estimated change in shares issued resulting from attainment of performance goals to be determined at the end of the prospective performance period. 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 $10.4 million and $11.8 million, as well as related expected tax benefits of $2.3 million and $2.6 million were recognized for the three months ended September 30, 2020 and 2019, respectively. As of September 30, 2020, the total remaining unrecognized compensation cost related to non-vested stock options and restricted stock unit awards amounted to $11.2 million and $42.4 million, respectively, which will be amortized over the weighted-average remaining requisite service periods of 1.7 years and 1.5 years, respectively.

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The provision for income taxes for the three months ended September 30, 2020 was $7.8 million compared to $7.9 million for the three months ended September 30, 2019. The effective tax rate for the three months ended September 30, 2020 was 10.6% compared to 12.4% for the three months ended September 30, 2019. The decrease in the effective tax rate for the three months ended September 30, 2020 was driven by excess tax benefits of $9.3 million for the three months ended September 30, 2020 compared to $5.7 million for the three months ended September 30, 2019.

Contractual Commitments, Contin

Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements	3 Months Ended
	Sep. 30, 2020
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 provided certain aspects of the Company’s information technology infrastructure. Under the IT Services Agreement, IBM provided a broad range of technology services to the Company including supporting its mainframe, midrange, network and data center operations, as well as providing disaster recovery services. The migration of data center processing to IBM was completed in August 2012. The IT Services Agreement would have expired on June 30, 2022, but a two In December 2019, the Company and IBM entered into an information technology agreement for private cloud services (the “IBM Private Cloud Agreement”) under which IBM will operate, manage and support the Company’s private cloud global distributed platforms and products, and operate and manage certain Company networks. The IBM Private Cloud Agreement has an initial term of approximately 10 years and three months, expiring on March 31, 2030. As a result of the IBM Private Cloud Agreement, the Company transferred certain of its employees in April 2020 to IBM and its affiliates, and that such transferred employees are expected to continue providing services to the Company on behalf of IBM under the IBM Private Cloud Agreement. Pursuant to the IBM Private Cloud Agreement, the Company agreed to transfer the ownership of certain Company-owned hardware (the “Hardware”) located at Company facilities worldwide to IBM. The transfer of the Hardware to IBM closed on September 30, 2020 for a selling price of $18.0 million. Fixed minimum commitments remaining under the IBM Private Cloud Agreement at September 30, 2020 are $226.5 million through March 31, 2030, 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 would have expired in October 2023. In December 2019, the Company amended the existing EU IT Services Agreement whereby the Company will migrate from the existing dedicated on-premise solution to a managed Broadridge private cloud environment provided by IBM, as well as extended the term of the EU IT Services Agreement to June 2029 (the “Amended EU IT Services Agreement”). The Company has the right to renew the term of the Amended EU IT Services Agreement for up to one additional 12-month period or one additional 24-month period. Fixed minimum commitments remaining under the Amended EU IT Services Agreement at September 30, 2020 are $29.0 million through fiscal year 2029, the final year of the contract. Investments As of September 30, 2020, the Company has a future commitment to fund $3.1 million to one of the Company’s investees. Software License Agreements The Company has incurred the following expenses under software license agreements: Three Months Ended 2020 2019 (In millions) Software License Agreements $ 18.2 $ 10.9 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, 2020 or at June 30, 2020. 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. The Company’s business process outsourcing and mutual fund processing services are performed by Broadridge Business Process Outsourcing, LLC (“BBPO”), an indirect wholly-owned subsidiary, which is a broker-dealer registered with the SEC 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, process any retail business 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, which requires BBPO to maintain a minimum net capital amount. At September 30, 2020, BBPO was in compliance with this net 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 BBPO to maintain a minimum net capital amount. At September 30, 2020, BBPO was in compliance with this net capital requirement. In addition, Matrix Trust Company, a subsidiary of the Company, 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 trustee services to institutional customers, and investment management services to collective trust funds. 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, 2020, 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, 2020
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, 2020, and 2019, respectively: Foreign Pension Total (In millions) Balances at July 1, 2020 $ (84.7) $ (15.7) $ (100.4) Other comprehensive income/(loss) before reclassifications 37.0 — 37.0 Amounts reclassified from accumulated other comprehensive income/(loss) — 0.6 0.6 Balances at September 30, 2020 $ (47.7) $ (15.1) $ (62.9) Foreign Pension Total (In millions) Balances at July 1, 2019 $ (58.3) $ (12.9) $ (71.2) Other comprehensive income/(loss) before reclassifications (8.7) — (8.7) Amounts reclassified from accumulated other comprehensive income/(loss) — 0.4 0.4 Balances at September 30, 2019 $ (66.9) $ (12.6) $ (79.5)

Interim Financial Data by Segme

Interim Financial Data by Segment	3 Months Ended
	Sep. 30, 2020
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 2020 2019 (In millions) Investor Communication Solutions $ 752.9 $ 702.6 Global Technology and Operations 296.0 273.9 Foreign currency exchange (31.5) (28.0) Total $ 1,017.4 $ 948.6 Earnings (Loss) before Income Three Months Ended 2020 2019 (In millions) Investor Communication Solutions $ 52.8 $ 23.0 Global Technology and Operations 75.3 56.4 Other (60.5) (21.1) Foreign currency exchange 6.0 5.6 Total $ 73.6 $ 63.8

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Segments	The Company operates in two reportable segments: Investor Communication Solutions (“ICS”) and Global Technology and Operations (“GTO”). • Investor Communication Solutions —Broadridge provides governance and communications solutions through its Investor Communication Solutions business segment to the following financial services clients: banks/broker-dealers, asset management firms/mutual funds, wealth management firms and corporate issuers. In addition to financial services firms, Broadridge’s Customer Communications business also serves companies in the healthcare, insurance, consumer finance, telecommunications, utilities, and other service industries. A large portion of Broadridge’s ICS 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 ® (“ProxyEdge”) is Broadridge’s innovative electronic proxy delivery and voting solution for institutional investors and financial advisors that helps ensure the voting participation of the largest stockholders of many companies. Broadridge also provides the distribution of regulatory reports and corporate action/reorganization event information, as well as tax reporting solutions that help its clients meet their regulatory compliance needs. For asset managers and retirement service providers, Broadridge offers data-driven solutions and an end-to-end platform for content management, composition, and multi-channel distribution of regulatory, marketing, and transactional information. Broadridge’s data and analytics solutions provide investment product distribution data, analytical tools, insights, and research to enable asset managers to optimize product distribution across retail and institutional channels globally. Through Matrix Financial Solutions, Inc. (“Matrix”), Broadridge provides mutual fund trade processing services for retirement service providers, third-party administrators, financial advisors, banks and wealth management professionals. In addition, Broadridge provides public corporations and mutual funds with a full suite of solutions to help manage their annual meeting process, including registered and beneficial proxy distribution and processing services, proxy and annual report document management solutions, virtual shareholder meeting services and solutions that help them gain insight into their shareholder base through Broadridge’s shareholder data services. Broadridge also offers financial reporting document composition and management solutions, SEC disclosure and filing services, and registrar, stock transfer and record-keeping services through Broadridge Corporate Issuer Solutions. We provide customer communications solutions which include print and digital solutions, content management, postal optimization, and fulfillment services. These services include customer communications management capabilities through the Broadridge Communications Cloud SM platform (the “Communications Cloud”). Through one point of integration, the Communications Cloud helps companies create, deliver, and manage multi-channel communications and customer engagement. The platform includes data-driven composition tools, identity and preference management, multi-channel optimization and digital communication experience, archive and information management, digital and print delivery, and analytics and reporting tools. • Global Technology and Operations —Broadridge is a leading global provider of securities processing solutions for capital markets, wealth management, and asset management firms. Broadridge offers advanced solutions that automate the securities transaction lifecycle, from desktop productivity tools, data aggregation, performance reporting, and portfolio management to order capture and execution, trade confirmation, margin, cash management, clearance and settlement, asset servicing, reference data management, reconciliations, securities financing and collateral optimization, compliance and regulatory reporting, and portfolio accounting and custody-related services. Broadridge’s core post-trade services help financial institutions 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-asset, multi-market, multi-entity and multi-currency solutions support real-time global trade processing of equity, fixed income, mutual fund, foreign exchange, and exchange traded derivatives. Broadridge’s comprehensive wealth management platform offers capabilities across the entire wealth management lifecycle and streamlines all aspects of wealth management services, including account management, fee management and client on-boarding. The wealth management platform enables full-service, regional and independent broker-dealers and investment advisors to better engage with customers through digital marketing and customer communications tools. Broadridge also integrates data, content and technology to drive new customer acquisition, support holistic advice and cross-sell opportunities through the creation of sales and educational content, including seminars as well as customizable advisor websites, search engine marketing and electronic and print newsletters. Broadridge’s advisor solutions help advisors optimize their practice management through customer and account data aggregation and reporting. Broadridge offers buy-side technology solutions for the global investment management industry, including portfolio management, compliance and operational workflow solutions for hedge funds, family offices, investment managers and the providers that service this space. Through Broadridge’s Managed Services, Broadridge provides business process outsourcing services that support the entire trade lifecycle operations of its buy- and sell-side clients’ businesses through a combination of its technology and operations expertise. Broadridge also provides support for advisor, investor and compliance workflow.
Consolidation and Basis of Presentation	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 U.S. and in accordance with 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 the equity method of accounting as well as certain marketable and non-marketable securities. Intercompany balances and transactions have been eliminated.
Securities	Securities . Securities are non-derivatives that are reflected in Other non-current assets in the Condensed Consolidated Balance Sheets, unless management intends to dispose of the investment within twelve months of the end of the reporting period, in which case they are reflected in Other current assets in the Condensed Consolidated Balance Sheets. These investments are in entities over which the Company does not have control, joint control, or significant influence. Securities that have a readily determinable fair value are carried at fair value. Securities without a readily determinable fair value are initially recognized at cost and subsequently carried at cost minus impairment, if any, plus or minus changes resulting from observable price changes in transactions for an identical or similar investment of the same issuer, such as subsequent capital raising transactions. Changes in the value of securities with or without a readily determinable fair value are recorded in the Condensed Consolidated Statements of Earnings. In determining whether a security without a readily determinable fair value is impaired, management considers qualitative factors to identify an impairment including the financial condition and near-term prospects of the issuer.
Use of Estimates	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. The use of estimates in specific accounting policies is described further in the notes to the Condensed Consolidated Financial Statements, as appropriate.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, as subsequently amended by ASU No. 2018-10, “Codification Improvements to Topic 842, Leases,” ASU No. 2018-11, “Leases (Topic 842): Targeted Improvements,” and ASU No. 2018-20, “Leases (Topic 842): Narrow Scope Improvements for Lessors” (collectively referred to herein as “ASU No. 2016-02, as amended”). Under ASU No. 2016-02, as amended, 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 ROU 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, as amended, 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, as amended, was effective for the Company in the first quarter of fiscal year 2020 and could have been adopted using either a modified retrospective basis which required adjustment to all comparative periods presented in the consolidated financial statements, or by recognizing a cumulative-effect adjustment to the opening balance of retained earnings at the date of initial application. Accordingly, in the first quarter of fiscal year 2020, the Company adopted ASU No. 2016-02, as amended, by recognizing a ROU asset and corresponding lease liability, along with a cumulative-effect adjustment to the opening balance of retained earnings, in the period of adoption. Under this method of adoption, the Company has not restated the prior period Condensed Consolidated Financial Statements presented to the current period presentation. The Company elected the transition package of three practical expedients permitted under the transition guidance in ASU No. 2016-02, as amended, to not reassess prior conclusions related to whether (i) a contract contains a lease, (ii) the classification of an existing lease, and (iii) the accounting for initial direct costs. The Company also elected accounting policies to (i) not separate the non-lease components of a contract from the lease component to which they relate, and (ii) not recognize assets or liabilities for leases with a term of twelve months or less and no purchase option that the Company is reasonably certain of exercising. On the Condensed Consolidated Balance Sheet as of July 1, 2019, the adoption of ASU No. 2016-02, as amended, resulted in the recognition of lease liabilities of $252.0 million and ROU assets of $235.4 million, which include the impact of existing deferred rents and tenant improvement allowances for operating leases, as well as a cumulative-effect adjustment to the opening balance of retained earnings of $0.2 million. The adoption of ASU No. 2016-02, as amended, did not have a material impact on the Condensed Consolidated Statements of Earnings, the Condensed Consolidated Statements of Comprehensive Income, the Condensed Consolidated Statements of Cash Flows, or the Condensed Consolidated Statements of Stockholders’ Equity. In August 2018, the FASB issued ASU No. 2018-15, “Intangibles - Goodwill and Other - Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract” (“ASU No. 2018-15”), which aligns the requirements for capitalizing implementation costs incurred in a cloud computing hosting arrangement that is a service contract with the requirements under GAAP for capitalizing implementation costs incurred to develop or obtain internal-use software. ASU No. 2018-15 became effective for the Company beginning in the first quarter of fiscal year 2021. Entities are permitted to apply either a retrospective or prospective transition approach to adopt the guidance, for which the Company elected to adopt ASU No. 2018-15 on a prospective basis. The adoption of ASU No. 2018-15 did not have a material impact on the Company's Condensed Consolidated Financial Statements.
Revenue Recognition	ASU No. 2014-09, “Revenue from Contracts with Customers” (“ASU No. 2014-09”) outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers. The core principle is that an entity recognizes revenue to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company’s revenues from clients are primarily generated from fees for providing investor communications and technology-enabled services and solutions. Revenues are recognized for the two reportable segments as follows: • Investor Communication Solutions —Revenues are generated primarily from processing and distributing investor communications and other related services as well as vote processing and tabulation. The Company typically enters into agreements with clients to provide services on a fee for service basis. Fees received for processing and distributing investor communications are generally variably priced and recognized as revenue over time as the Company provides the services to clients based on the number of units processed, which coincides with the pattern of value transfer to the client. Broadridge works directly with corporate issuers (“Issuers”) and mutual funds to ensure that the account holders of the Company’s bank and broker clients, who are also the shareholders of Issuers and mutual funds, receive the appropriate investor communications materials and the services are fulfilled in accordance with each Issuer’s and mutual fund’s requirements. Broadridge works directly with the Issuers and mutual funds to resolve any issues that may arise. As such, Issuers and mutual funds are viewed as the customer of the Company’s services. As a result, revenues for distribution services as well as proxy materials fulfillment services are recorded in Revenue on a gross basis with corresponding costs including amounts remitted to the broker-dealers and banks (referred to as “Nominees”) recorded in Cost of revenues. Fees for the Company’s investor communications services arrangements are typically billed and paid on a monthly basis following the delivery of the services. The Company also offers certain hosted service arrangements that can be priced on a fixed and/or variable basis for which revenue is recognized over time as the Company satisfies its performance obligation by delivering services to the client on a monthly basis based on the number of transactions processed or units delivered, in the case of variable priced arrangements, or a fixed monthly fee in the case of fixed price arrangements, in each case which coincides with the pattern of value transfer to the client. These services may be billed in a variety of payment frequencies depending on the specific arrangement. • Global Technology and Operations —Revenues are generated primarily from fees for trade processing and related services. Revenue is recognized over time as the Company satisfies its performance obligation by delivering services to the client. The Company’s arrangements for processing and related services typically consist of an obligation to provide specific services to its clients on a when and if needed basis (a stand ready obligation) with revenue recognized from the satisfaction of the performance obligations on a monthly basis generally in the amount billable to the client. These services are generally provided under variable priced arrangements based on volume of service and can include minimum monthly usage fees. Client service agreements often include up-front consideration in addition to the recurring fee for trade processing. Up-front implementation fees, as well as certain enhancements to existing technology platforms, are deferred and recognized on a straight-line basis over the service term of the contract which corresponds to the timing of transfer of value to the client that commences after client acceptance when the processing term begins. In addition, revenue is also generated from the fulfillment of professional services engagements which are generally priced on a time and materials or fixed price basis, and are recognized as the services are provided to the client which corresponds to the timing of transfer of value to the client. Finally, the Company recognizes license revenues from software term licenses installed on clients’ premises upon delivery and acceptance of the software license, assuming a contract is deemed to exist. Software term license revenue is not a significant portion of the Company’s revenues.
Acquisitions	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.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Three Months Ended 2020 2019 (In millions) Investor Communication Solutions Equity proxy $ 40.1 $ 29.8 Mutual fund and exchange traded funds (“ETF”) interims 73.6 65.3 Customer communications and fulfillment 173.5 170.9 Other ICS 88.0 83.2 Total ICS Recurring fee revenues 375.2 349.2 Equity and other 18.3 17.5 Mutual funds 27.2 22.6 Total ICS Event-driven fee revenues 45.5 40.1 Distribution revenues 332.2 313.3 Total ICS Revenues $ 752.9 $ 702.6 Global Technology and Operations Equities and other $ 252.4 $ 230.9 Fixed income 43.6 43.1 Total GTO Recurring fee revenues 296.0 273.9 Foreign currency exchange (31.5) (28.0) Total Revenues $ 1,017.4 $ 948.6 Revenues by Type Recurring fee revenues $ 671.2 $ 623.2 Event-driven fee revenues 45.5 40.1 Distribution revenues 332.2 313.3 Foreign currency exchange (31.5) (28.0) Total Revenues $ 1,017.4 $ 948.6
Contract Assets and Liabilities	The following table provides information about contract assets and liabilities: September 30, 2020 June 30, 2020 (In millions) Contract assets $ 85.8 $ 81.9 Contract liabilities $ 284.1 $ 286.6

Weighted-Average Shares Outst_2

Weighted-Average Shares Outstanding (Tables)	3 Months Ended
	Sep. 30, 2020
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 2020 2019 Weighted-average shares outstanding: Basic 115.3 114.4 Common stock equivalents 2.1 2.7 Diluted 117.4 117.1

Interest Expense, Net (Tables)

Interest Expense, Net (Tables)	3 Months Ended
	Sep. 30, 2020
Other Income and Expenses [Abstract]
Schedule of Interest Expense, Net	Interest expense, net consisted of the following: Three Months Ended 2020 2019 (In millions) Interest expense on borrowings $ (15.0) $ (14.2) Interest income 0.6 1.0 Interest expense, net $ (14.4) $ (13.1)

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	Financial information on each transaction is as follows: Shadow Financial Fi360 Clear-Structure Funds-Library Total (In millions) Cash payments, net of cash acquired $ 35.6 $ 116.0 $ 59.1 $ 69.6 $ 280.3 Deferred payments, net 2.9 3.5 2.6 — 9.0 Contingent consideration liability — — 7.0 — 7.0 Aggregate purchase price $ 38.5 $ 119.5 $ 68.7 $ 69.6 $ 296.3 Net tangible assets acquired / (liabilities assumed) $ (0.2) $ (7.9) $ 0.6 $ (3.2) $ (10.7) Goodwill 17.6 84.4 44.2 39.0 185.2 Intangible assets 21.1 43.1 23.9 33.8 121.8 Aggregate purchase price $ 38.5 $ 119.5 $ 68.7 $ 69.6 $ 296.3

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Sep. 30, 2020
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, 2020 and June 30, 2020, respectively, that are recorded at fair value, segregated by level within the fair value hierarchy: September 30, 2020 Level 1 Level 2 Level 3 Total (In millions) Assets: Cash and cash equivalents: Money market funds (a) $ 120.0 $ — $ — $ 120.0 Other current assets: Securities 0.4 — — 0.4 Other non-current assets: Securities 108.5 — — 108.5 Total assets as of September 30, 2020 $ 229.0 $ — $ — $ 229.0 Liabilities: Contingent consideration obligations — — 23.7 23.7 Total liabilities as of September 30, 2020 $ — $ — $ 23.7 $ 23.7 June 30, 2020 Level 1 Level 2 Level 3 Total (In millions) Assets: Cash and cash equivalents: Money market funds (a) $ 150.1 $ — $ — $ 150.1 Other current assets: Securities 0.5 — — 0.5 Other non-current assets: Securities 102.0 — — 102.0 Total assets as of June 30, 2020 $ 252.7 $ — $ — $ 252.7 Liabilities: Contingent consideration obligations — — 33.1 33.1 Total liabilities as of June 30, 2020 $ — $ — $ 33.1 $ 33.1 _________ (a) Money market funds include money market deposit account balances of $120.0 million and $150.1 million as of September 30, 2020 and June 30, 2020, 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, 2020 and 2019, respectively, in Level 3 financial liabilities of the Company: Three Months Ended September 30, 2020 2019 (In millions) Beginning balance $ 33.1 $ 28.4 Foreign currency impact on contingent consideration liability 1.4 (0.4) Payments (10.7) (1.5) Ending balance $ 23.7 $ 26.5

Other Non-Current Assets (Table

Other Non-Current Assets (Tables)	3 Months Ended
	Sep. 30, 2020
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, 2020 June 30, 2020 (In millions) Deferred client conversion and start-up costs $ 499.4 $ 433.8 ROU assets (a) 264.5 292.6 Long-term investments 159.4 141.6 Deferred sales commissions costs 100.1 104.4 Contract assets (b) 85.8 81.9 Long-term broker fees 43.5 32.8 Deferred data center costs (c) 24.4 24.5 Other 28.9 30.2 Total $ 1,206.1 $ 1,141.9 _________ (a) ROU assets represent the Company’s right to use an underlying asset for the lease term. (b) Contract assets result from revenue already recognized but not yet invoiced, including certain future amounts to be collected under software term licenses and certain other client contracts. (c) Represents deferred data center costs associated with the Company’s information technology services agreements with International Business Machines Corporation (“IBM”). Please refer to Note 14, “Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements” for a further discussion.

Payables and Accrued Expenses (

Payables and Accrued Expenses (Tables)	3 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Payables and accrued expenses consisted of the following: September 30, 2020 June 30, 2020 (In millions) Accounts payable $ 120.0 $ 151.8 Employee compensation and benefits 156.6 260.4 Accrued dividend payable 66.4 62.2 Accrued broker fees 65.2 109.5 Managed services administration fees 56.0 59.4 Operating lease liabilities 40.7 35.3 Customer deposits 36.7 44.5 Accrued taxes 22.5 38.5 Other 68.3 68.6 Total $ 632.3 $ 829.9

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Outstanding Borrowings	Outstanding borrowings and available capacity under the Company’s borrowing arrangements were as follows: Expiration Principal amount outstanding at September 30, 2020 Carrying value at September 30, 2020 Carrying value at June 30, 2020 Unused Fair Value at September 30, 2020 (In millions) Current portion of long-term debt Fiscal 2014 Senior Notes (a) September 2020 $ — $ — $ 399.9 $ — $ — Total $ — $ — $ 399.9 $ — $ — Long-term debt, excluding current portion Fiscal 2019 Revolving Credit Facility: U.S. dollar tranche March 2024 $ 380.0 $ 380.0 $ — $ 720.0 $ 380.0 Multicurrency tranche March 2024 157.9 157.9 149.8 242.1 157.9 Total Revolving Credit Facility 537.9 537.9 149.8 962.1 537.9 Fiscal 2016 Senior Notes June 2026 500.0 496.3 496.1 — 558.5 Fiscal 2020 Senior Notes December 2029 750.0 741.9 741.7 — 815.7 Total Senior Notes 1,250.0 1,238.2 1,237.8 — 1,374.2 Total long-term debt $ 1,787.9 $ 1,776.1 $ 1,387.6 $ 962.1 $ 1,912.2 Total debt $ 1,787.9 $ 1,776.1 $ 1,787.5 $ 962.1 $ 1,912.2 _________ (a) On September 1, 2020, the Company repaid in full the $400.0 million in Fiscal 2014 Senior Notes that were outstanding at their maturity date.
Schedule of Future Principal Payments on Outstanding Debt	Future principal payments on the Company’s outstanding debt are as follows: Years ending June 30, 2021 2022 2023 2024 2025 Thereafter Total (in millions) $ — $ — $ — $ 537.9 $ — $ 1,250.0 $ 1,787.9

Other Non-Current Liabilities (

Other Non-Current Liabilities (Tables)	3 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Other Noncurrent Liabilities	Other non-current liabilities consisted of the following: September 30, 2020 June 30, 2020 (In millions) Operating lease liabilities $ 268.7 $ 288.3 Post-employment retirement obligations 150.7 144.3 Non-current income taxes 38.3 37.4 Acquisition related contingencies 15.3 17.6 Other 35.7 24.8 Total $ 508.6 $ 512.4

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Summary of Incentive Awards	The activity related to the Company’s incentive equity awards for the three months ended September 30, 2020 consisted of the following: Stock Options Time-based Performance-based Number of Weighted- Number Weighted- Number Weighted- Balances at July 1, 2020 3,770,787 $ 74.97 699,998 $ 111.37 251,596 $ 122.11 Granted — — 45,103 133.55 23,964 121.58 Exercise of stock options (a) (474,356) 43.69 — — — — Vesting of restricted stock units — — (903) 122.83 (11,837) 75.82 Expired/forfeited (106,874) 101.71 (15,254) 119.41 (17,378) 122.64 Balances at September 30, 2020 (b),(c) 3,189,557 $ 78.73 728,944 $ 112.56 246,345 $ 124.24 ____________ (a) Stock options exercised during the period of July 1, 2020 through September 30, 2020 had an aggregate intrinsic value of $43.2 million. (b) As of September 30, 2020, the Company’s outstanding vested and currently exercisable stock options using the September 30, 2020 closing stock price of $132.00 (approximately 1.5 million shares) had an aggregate intrinsic value of $115.7 million with a weighted-average exercise price of $57.35 and a weighted-average remaining contractual life of 4.9 years. The total of all stock options outstanding as of September 30, 2020 have a weighted-average remaining contractual life of 6.5 years. (c) As of September 30, 2020, time-based restricted stock units and performance-based restricted stock units expected to vest using the September 30, 2020 closing stock price of $132.00 (approximately 0.7 million and 0.2 million shares, respectively) had an aggregate intrinsic value of $91.8 million and $31.0 million, respectively. Performance-based restricted stock units granted in the table above represent initial target awards, and performance adjustments for (i) change in shares issued based upon attainment of performance goals determined in the period, and (ii) estimated change in shares issued resulting from attainment of performance goals to be determined at the end of the prospective performance period.

Contractual Commitments, Cont_2

Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements (Tables)	3 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Summary of Software License Agreements	The Company has incurred the following expenses under software license agreements: Three Months Ended 2020 2019 (In millions) Software License Agreements $ 18.2 $ 10.9

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Income/(Loss) by Component (Tables)	3 Months Ended
	Sep. 30, 2020
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, 2020, and 2019, respectively: Foreign Pension Total (In millions) Balances at July 1, 2020 $ (84.7) $ (15.7) $ (100.4) Other comprehensive income/(loss) before reclassifications 37.0 — 37.0 Amounts reclassified from accumulated other comprehensive income/(loss) — 0.6 0.6 Balances at September 30, 2020 $ (47.7) $ (15.1) $ (62.9) Foreign Pension Total (In millions) Balances at July 1, 2019 $ (58.3) $ (12.9) $ (71.2) Other comprehensive income/(loss) before reclassifications (8.7) — (8.7) Amounts reclassified from accumulated other comprehensive income/(loss) — 0.4 0.4 Balances at September 30, 2019 $ (66.9) $ (12.6) $ (79.5)

Interim Financial Data by Seg_2

Interim Financial Data by Segment (Tables)	3 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Results	Segment results: Revenues Three Months Ended 2020 2019 (In millions) Investor Communication Solutions $ 752.9 $ 702.6 Global Technology and Operations 296.0 273.9 Foreign currency exchange (31.5) (28.0) Total $ 1,017.4 $ 948.6 Earnings (Loss) before Income Three Months Ended 2020 2019 (In millions) Investor Communication Solutions $ 52.8 $ 23.0 Global Technology and Operations 75.3 56.4 Other (60.5) (21.1) Foreign currency exchange 6.0 5.6 Total $ 73.6 $ 63.8

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details)	3 Months Ended
	Sep. 30, 2020Segment
Accounting Policies [Abstract]
Number of client groups	4
Number of reportable segments	2

New Accounting Pronouncements (

New Accounting Pronouncements (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Jul. 01, 2019	Jun. 30, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity	$ 1,413.8	$ 1,346.5	$ 1,143.4		$ 1,127.5
2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liability recognized upon adoption				$ 252
Operating lease right-of-use assets recognized upon adoption				$ 235.4

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) $ in Millions	3 Months Ended
	Sep. 30, 2020USD ($)Segment
Revenue from Contract with Customer [Abstract]
Number of reportable segments | Segment	2
Amount of revenue recognized | $	$ 85.1

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 1,017.4	$ 948.6
Distribution revenues
Disaggregation of Revenue [Line Items]
Revenues	332.2	313.3
Foreign currency exchange
Disaggregation of Revenue [Line Items]
Revenues	31.5	28
Recurring fee revenues
Disaggregation of Revenue [Line Items]
Revenues	671.2	623.2
Event-driven fee revenues
Disaggregation of Revenue [Line Items]
Revenues	45.5	40.1
Investor Communication Solutions
Disaggregation of Revenue [Line Items]
Revenues	752.9	702.6
Investor Communication Solutions | Total ICS Recurring fee revenues
Disaggregation of Revenue [Line Items]
Revenues	375.2	349.2
Investor Communication Solutions | Equity proxy
Disaggregation of Revenue [Line Items]
Revenues	40.1	29.8
Investor Communication Solutions | Mutual fund and exchange traded funds (“ETF”) interims
Disaggregation of Revenue [Line Items]
Revenues	73.6	65.3
Investor Communication Solutions | Customer communications and fulfillment
Disaggregation of Revenue [Line Items]
Revenues	173.5	170.9
Investor Communication Solutions | Other ICS
Disaggregation of Revenue [Line Items]
Revenues	88	83.2
Investor Communication Solutions | Total ICS Event-driven fee revenues
Disaggregation of Revenue [Line Items]
Revenues	45.5	40.1
Investor Communication Solutions | Equity and other
Disaggregation of Revenue [Line Items]
Revenues	18.3	17.5
Investor Communication Solutions | Mutual funds
Disaggregation of Revenue [Line Items]
Revenues	27.2	22.6
Investor Communication Solutions | Distribution revenues
Disaggregation of Revenue [Line Items]
Revenues	332.2	313.3
Global Technology and Operations | Total GTO Recurring fee revenues
Disaggregation of Revenue [Line Items]
Revenues	296	273.9
Global Technology and Operations | Equities and other
Disaggregation of Revenue [Line Items]
Revenues	252.4	230.9
Global Technology and Operations | Fixed income
Disaggregation of Revenue [Line Items]
Revenues	$ 43.6	$ 43.1

Revenue Recognition - Contract

Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Contract assets	$ 85.8	$ 81.9
Contract liabilities	$ 284.1	$ 286.6

Weighted-Average Shares Outst_3

Weighted-Average Shares Outstanding - Additional Information (Details) - shares	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-diluted options related to the purchase of common stock, less than (in shares)	100,000	0

Weighted-Average Shares Outst_4

Weighted-Average Shares Outstanding - Denominators of Basic and Diluted EPS Computations (Details) - shares shares in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Weighted-average shares outstanding:
Basic (in shares)	115.3	114.4
Common stock equivalents (in shares)	2.1	2.7
Diluted (in shares)	117.4	117.1

Interest Expense, Net - Compone

Interest Expense, Net - Components of Interest Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Other Income and Expenses [Abstract]
Interest expense on borrowings	$ (15)	$ (14.2)
Interest income	0.6	1
Interest expense, net	$ (14.4)	$ (13.1)

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended
	Feb. 29, 2020	Nov. 30, 2019	Oct. 31, 2019	Sep. 30, 2020
Shadow Financial | Customer Relationships
Business Acquisition [Line Items]
Useful life of intangible assets acquired			7 years
Shadow Financial | Software Technology
Business Acquisition [Line Items]
Useful life of intangible assets acquired			5 years
Fi360 | Customer Relationships
Business Acquisition [Line Items]
Useful life of intangible assets acquired		7 years
Fi360 | Software Technology
Business Acquisition [Line Items]
Useful life of intangible assets acquired		5 years
Clear-Structure
Business Acquisition [Line Items]
Potential maximum pay-out		$ 12.5
Fair value of contingent consideration liability				$ 7
Clear-Structure | Customer Relationships
Business Acquisition [Line Items]
Useful life of intangible assets acquired		7 years
Clear-Structure | Software Technology
Business Acquisition [Line Items]
Useful life of intangible assets acquired		5 years
Funds-Library | Customer Relationships
Business Acquisition [Line Items]
Useful life of intangible assets acquired	7 years
Funds-Library | Software Technology
Business Acquisition [Line Items]
Useful life of intangible assets acquired	3 years

Acquisitions - Schedule of Busi

Acquisitions - Schedule of Business Combinations (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Business Acquisition [Line Items]
Cash payments, net of cash acquired	$ 0	$ 48.1
Goodwill	1,701.4		$ 1,674.5
Fiscal 2020 Acquisitions
Business Acquisition [Line Items]
Cash payments, net of cash acquired	280.3
Deferred payments, net	9
Contingent consideration liability	7
Aggregate purchase price	296.3
Net tangible assets acquired / (liabilities assumed)	(10.7)
Goodwill	185.2
Intangible assets	121.8
Shadow Financial
Business Acquisition [Line Items]
Cash payments, net of cash acquired	35.6
Deferred payments, net	2.9
Contingent consideration liability	0
Aggregate purchase price	38.5
Net tangible assets acquired / (liabilities assumed)	(0.2)
Goodwill	17.6
Intangible assets	21.1
Fi360
Business Acquisition [Line Items]
Cash payments, net of cash acquired	116
Deferred payments, net	3.5
Contingent consideration liability	0
Aggregate purchase price	119.5
Net tangible assets acquired / (liabilities assumed)	(7.9)
Goodwill	84.4
Intangible assets	43.1
Clear-Structure
Business Acquisition [Line Items]
Cash payments, net of cash acquired	59.1
Deferred payments, net	2.6
Contingent consideration liability	7
Aggregate purchase price	68.7
Net tangible assets acquired / (liabilities assumed)	0.6
Goodwill	44.2
Intangible assets	23.9
Funds-Library
Business Acquisition [Line Items]
Cash payments, net of cash acquired	69.6
Deferred payments, net	0
Contingent consideration liability	0
Aggregate purchase price	69.6
Net tangible assets acquired / (liabilities assumed)	(3.2)
Goodwill	39
Intangible assets	$ 33.8

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Cash and cash equivalents:
Money market funds	$ 120	$ 150.1
Other current assets:
Securities	0.4	0.5
Other non-current assets:
Securities	108.5	102
Total assets as of period end	229	252.7
Liabilities:
Contingent consideration obligations	23.7	33.1
Total liabilities as of period end	23.7	33.1
Level 1
Cash and cash equivalents:
Money market funds	120	150.1
Other current assets:
Securities	0.4	0.5
Other non-current assets:
Securities	108.5	102
Total assets as of period end	229	252.7
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:
Securities	0	0
Other non-current assets:
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:
Securities	0	0
Other non-current assets:
Securities	0	0
Total assets as of period end	0	0
Liabilities:
Contingent consideration obligations	23.7	33.1
Total liabilities as of period end	23.7	33.1
Money Market Deposit Accounts
Cash and cash equivalents:
Money market funds	$ 120	$ 150.1

Fair Value of Financial Instr_4

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, 2020	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Non-marketable securities	$ 44.8	$ 33.3

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Schedule of Changes in Level 3 Financial Liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 33.1	$ 28.4
Foreign currency impact on contingent consideration liability	1.4	(0.4)
Payments	(10.7)	(1.5)
Ending balance	$ 23.7	$ 26.5

Other Non-Current Assets - Sche

Other Non-Current Assets - Schedule of Other Non-Current Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred client conversion and start-up costs	$ 499.4		$ 433.8
ROU assets	264.5		292.6
Long-term investments	159.4		141.6
Deferred sales commissions costs	100.1		104.4
Contract assets	85.8		81.9
Long-term broker fees	43.5		32.8
Deferred data center costs	24.4		24.5
Other	28.9		30.2
Total	1,206.1		$ 1,141.9
Amortization of deferred sales commissions and set-up costs	$ 18.7	$ 17.3

Payables and Accrued Expensess

Payables and Accrued Expensess - Components of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Payables and Accruals [Abstract]
Accounts payable	$ 120	$ 151.8
Employee compensation and benefits	156.6	260.4
Accrued dividend payable	66.4	62.2
Accrued broker fees	65.2	109.5
Managed services administration fees	56	59.4
Operating lease liabilities	40.7	35.3
Customer deposits	36.7	44.5
Accrued taxes	22.5	38.5
Other	68.3	68.6
Total	$ 632.3	$ 829.9

Borrowings - Schedule of Outsta

Borrowings - Schedule of Outstanding Borrowings (Details) - USD ($)	Sep. 30, 2020	Sep. 01, 2020	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2016	Aug. 31, 2013
Debt Instrument [Line Items]
Principal amount	$ 1,787,900,000
Current portion of long-term debt	0		$ 399,900,000
Long-term debt	1,776,100,000		1,387,600,000
Unused Available Capacity	962,100,000
Fair Value at September 30, 2020	1,912,200,000
Total debt	1,776,100,000		1,787,500,000
Long-term debt, excluding current portion
Debt Instrument [Line Items]
Principal amount	1,787,900,000
Long-term debt	1,776,100,000		1,387,600,000
Fair Value at September 30, 2020	1,912,200,000
Senior Notes
Debt Instrument [Line Items]
Principal amount	1,250,000,000
Long-term debt	1,238,200,000		1,237,800,000
Senior Notes | Long-term debt, excluding current portion
Debt Instrument [Line Items]
Fair Value at September 30, 2020	1,374,200,000
Fiscal 2019 Revolving Credit Facility: | Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount	537,900,000
Long-term debt	537,900,000		149,800,000
Unused Available Capacity	962,100,000
Fair Value at September 30, 2020	537,900,000
Fiscal 2019 Revolving Credit Facility, U.S. Dollar Tranche | Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount	380,000,000
Long-term debt	380,000,000		0
Unused Available Capacity	720,000,000
Fair Value at September 30, 2020	380,000,000
Fiscal 2019 Revolving Credit Facility, Multicurrency Tranche | Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount	157,900,000
Long-term debt	157,900,000		149,800,000
Unused Available Capacity	242,100,000
Fair Value at September 30, 2020	157,900,000
Fiscal 2014 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal amount	0					$ 400,000,000
Current portion of long-term debt	0
Fair Value at September 30, 2020	0
Repayment of debt		$ 400,000,000
Fiscal 2014 Senior Notes | Senior Notes | Long-term debt, excluding current portion
Debt Instrument [Line Items]
Long-term debt			399,900,000
Fiscal 2016 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal amount	500,000,000				$ 500,000,000
Long-term debt	496,300,000
Fiscal 2016 Senior Notes | Senior Notes | Long-term debt, excluding current portion
Debt Instrument [Line Items]
Long-term debt			496,100,000
Fair Value at September 30, 2020	558,500,000
Fiscal 2020 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal amount	750,000,000			$ 750,000,000
Long-term debt	741,900,000
Fiscal 2020 Senior Notes | Senior Notes | Long-term debt, excluding current portion
Debt Instrument [Line Items]
Long-term debt			$ 741,700,000
Fair Value at September 30, 2020	$ 815,700,000

Borrowings - Future Principal P

Borrowings - Future Principal Payments on the Company’s Outstanding Debt (Details) $ in Millions	Sep. 30, 2020USD ($)
Debt Disclosure [Abstract]
2021	$ 0
2022	0
2023	0
2024	537.9
2025	0
Thereafter	1,250
Total	$ 1,787.9

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($)	Mar. 18, 2019	Feb. 06, 2017	Sep. 30, 2020	Sep. 30, 2019	Sep. 01, 2020	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2016	Aug. 31, 2013
Debt Instrument [Line Items]
Principal amount			$ 1,787,900,000
Fair value, senior notes			1,912,200,000
Outstanding amount of line of credit			0			$ 0
Long-term debt, excluding current portion
Debt Instrument [Line Items]
Principal amount			1,787,900,000
Fair value, senior notes			1,912,200,000
Senior Notes
Debt Instrument [Line Items]
Principal amount			1,250,000,000
Senior Notes | Long-term debt, excluding current portion
Debt Instrument [Line Items]
Fair value, senior notes			1,374,200,000
Fiscal 2019 Revolving Credit Facility: | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility maximum borrowing capacity	$ 1,500,000,000
Term	5 years
Tranche borrowing period	360 days
Annual facility fee (as basis points)	0.11%
Principal amount			537,900,000
Fair value, senior notes			537,900,000
Fiscal 2019 Revolving Credit Facility, U.S. Dollar Tranche | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility maximum borrowing capacity	$ 1,100,000,000
Principal amount			380,000,000
Fair value, senior notes			380,000,000
Fiscal 2019 Revolving Credit Facility, Multicurrency Tranche | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility maximum borrowing capacity	$ 400,000,000
Principal amount			157,900,000
Fair value, senior notes			$ 157,900,000
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
Revolving Credit Facilities | Revolving Credit Facility
Debt Instrument [Line Items]
Weighted-average interest rate of revolving credit facilities			1.22%	3.12%
Fiscal 2014 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal amount			$ 0						$ 400,000,000
Repayment of debt					$ 400,000,000
Fair value, senior notes			0
Fiscal 2016 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal amount			500,000,000					$ 500,000,000
Interest rate, senior notes								3.40%
Percentage of principal amount								99.589%
Effective interest rate, senior notes								3.449%
Fiscal 2016 Senior Notes | Senior Notes | Level 1
Debt Instrument [Line Items]
Fair value, senior notes						$ 554,300,000
Fiscal 2016 Senior Notes | Senior Notes | Long-term debt, excluding current portion
Debt Instrument [Line Items]
Fair value, senior notes			558,500,000
Fiscal 2020 Senior Notes | Senior Notes
Debt Instrument [Line Items]
Principal amount			750,000,000				$ 750,000,000
Interest rate, senior notes							2.90%
Percentage of principal amount							99.717%
Effective interest rate, senior notes							2.933%
Fiscal 2020 Senior Notes | Senior Notes | Long-term debt, excluding current portion
Debt Instrument [Line Items]
Fair value, senior notes			$ 815,700,000
London Interbank Offered Rate (LIBOR) | Fiscal 2019 Revolving Credit Facility: | Revolving Credit Facility
Debt Instrument [Line Items]
Variable interest rate	1.015%

Other Non-Current Liabilities_2

Other Non-Current Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Payables and Accruals [Abstract]
Operating lease liabilities	$ 268.7	$ 288.3
Post-employment retirement obligations	150.7	144.3
Non-current income taxes	38.3	37.4
Acquisition related contingencies	15.3	17.6
Other	35.7	24.8
Total	$ 508.6	$ 512.4

Other Non-Current Liabilities -

Other Non-Current Liabilities - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020
Other Liabilities Disclosure [Abstract]
Plan assets	$ 56.5	$ 54.5
Benefit obligation	$ 60.5	$ 59.8

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Incentive Equity Awards (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares
Weighted-Average Grant Date Fair Value
Stock options exercised during period, aggregate intrinsic value | $	$ 43.2
Closing stock price (in dollars per share) | $ / shares	$ 132
Outstanding vested and currently exercisable stock options (in shares)	1,500,000
Exercisable stock options, aggregate intrinsic value | $	$ 115.7
Exercisable stock options, weighted average exercise price (in dollars per share) | $ / shares	$ 57.35
Exercisable stock options, weighted average remaining contractual life	4 years 10 months 24 days
Stock options outstanding, weighted-average remaining contractual life	6 years 6 months
Stock Options
Number of Options
Number of Options, Beginning balance (in shares)	3,770,787
Number of Options, Granted (in shares)	0
Number of Options, Exercise of stock options (in shares)	(474,356)
Number of Options, Expired/forfeited (in shares)	(106,874)
Number of Options, Ending balance (in shares)	3,189,557
Weighted-Average Exercise Price
Weighted-Average Exercise Price, Beginning balance (in dollars per share) | $ / shares	$ 74.97
Weighted-Average Exercise Price, Granted (in dollars per share) | $ / shares	0
Weighted-Average Exercise Price, Exercise of stock options (in dollars per share) | $ / shares	43.69
Weighted-Average Exercise Price, Expired/forfeited (in dollars per share) | $ / shares	101.71
Weighted-Average Exercise Price, Ending balance (in dollars per share) | $ / shares	$ 78.73
Time-based Restricted Stock Units
Number of Options
Number of Options, Beginning balance (in shares)	699,998
Number of Options, Granted (in shares)	45,103
Number of Shares, Vesting of restricted stock units (in shares)	(903)
Number of Options, Expired/forfeited (in shares)	(15,254)
Number of Options, Ending balance (in shares)	728,944
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning balance (in dollars per share) | $ / shares	$ 111.37
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	133.55
Weighted-Average Grant Date Fair Value, Vesting of Restricted Stock Units (in dollars per share) | $ / shares	122.83
Weighted-Average Grant Date Fair Value, Expired/forfeited (in dollars per share) | $ / shares	119.41
Weighted-Average Grant Date Fair Value, Ending balance (in dollars per share) | $ / shares	$ 112.56
Restricted stock units expected to vest (in shares)	700,000
Restricted stock units, aggregate intrinsic value | $	$ 91.8
Performance-based Restricted Stock Units
Number of Options
Number of Options, Beginning balance (in shares)	251,596
Number of Options, Granted (in shares)	23,964
Number of Shares, Vesting of restricted stock units (in shares)	(11,837)
Number of Options, Expired/forfeited (in shares)	(17,378)
Number of Options, Ending balance (in shares)	246,345
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning balance (in dollars per share) | $ / shares	$ 122.11
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	121.58
Weighted-Average Grant Date Fair Value, Vesting of Restricted Stock Units (in dollars per share) | $ / shares	75.82
Weighted-Average Grant Date Fair Value, Expired/forfeited (in dollars per share) | $ / shares	122.64
Weighted-Average Grant Date Fair Value, Ending balance (in dollars per share) | $ / shares	$ 124.24
Restricted stock units expected to vest (in shares)	200,000
Restricted stock units, aggregate intrinsic value | $	$ 31

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 10.4	$ 11.8
Related tax benefits	2.3	$ 2.6
Unrecognized compensation cost related to non-vested stock options	11.2
Unrecognized compensation cost related to restricted stock unit awards	$ 42.4
Amortization period of unrecognized compensation cost for non-vested stock options	1 year 8 months 12 days
Amortization period of unrecognized compensation cost for restricted stock awards	1 year 6 months

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 7.8	$ 7.9
Effective income tax rate	10.60%	12.40%
Excess tax benefits	$ 9.3	$ 5.7

Contractual Commitments, Cont_3

Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements - Additional Information (Details) $ in Millions	1 Months Ended			3 Months Ended
	Dec. 31, 2019	Mar. 31, 2015term	Mar. 31, 2014term	Sep. 30, 2020USD ($)
Contractual Commitments Contingencies And Off- Balance Sheet Arrangements [Line Items]
Future capital commitment				$ 3.1
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
Remaining commitment amount				235.7
IBM Private Cloud Agreement
Contractual Commitments Contingencies And Off- Balance Sheet Arrangements [Line Items]
Remaining commitment amount				226.5
Agreement term	10 years 3 months
Assets held-for-sale				18
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
Remaining commitment amount				$ 29
Number of renewal terms option two | term			1
Renewal term option two (in months)			24 months

Contractual Commitments, Cont_4

Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements - Software License Agreements (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Software License Agreements	$ 18.2	$ 10.9

Changes in Accumulated Other _3

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, 2020	Sep. 30, 2019
Changes In Accumulated Other Comprehensive Income [Roll Forward]
Balance	$ 1,346.5	$ 1,127.5
Other comprehensive income/(loss) before reclassifications	37	(8.7)
Amounts reclassified from accumulated other comprehensive income/(loss)	0.6	0.4
Balance	1,413.8	1,143.4
Foreign Currency Translation
Changes In Accumulated Other Comprehensive Income [Roll Forward]
Balance	(84.7)	(58.3)
Other comprehensive income/(loss) before reclassifications	37	(8.7)
Amounts reclassified from accumulated other comprehensive income/(loss)	0	0
Balance	(47.7)	(66.9)
Pension and Post- Retirement Liabilities
Changes In Accumulated Other Comprehensive Income [Roll Forward]
Balance	(15.7)	(12.9)
Other comprehensive income/(loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive income/(loss)	0.6	0.4
Balance	(15.1)	(12.6)
Accumulated Other Comprehensive Income (Loss)
Changes In Accumulated Other Comprehensive Income [Roll Forward]
Balance	(100.4)	(71.2)
Balance	$ (62.9)	$ (79.5)

Interim Financial Data by Seg_3

Interim Financial Data by Segment - Additional Information (Details)	3 Months Ended
	Sep. 30, 2020Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Interim Financial Data by Seg_4

Interim Financial Data by Segment - Segment Results (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Revenues	$ 1,017.4	$ 948.6
Earnings (Loss) before Income Taxes	73.6	63.8
Other
Segment Reporting Information [Line Items]
Earnings (Loss) before Income Taxes	(60.5)	(21.1)
Foreign currency exchange
Segment Reporting Information [Line Items]
Revenues	(31.5)	(28)
Earnings (Loss) before Income Taxes	6	5.6
Investor Communication Solutions
Segment Reporting Information [Line Items]
Revenues	752.9	702.6
Investor Communication Solutions | Operating Segments
Segment Reporting Information [Line Items]
Revenues	752.9	702.6
Earnings (Loss) before Income Taxes	52.8	23
Global Technology and Operations | Operating Segments
Segment Reporting Information [Line Items]
Revenues	296	273.9
Earnings (Loss) before Income Taxes	$ 75.3	$ 56.4