Premier (PINC) 10-Q 2 Feb 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Dec. 31, 2020	Jan. 28, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-36092
Entity Registrant Name	Premier, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	35-2477140
Entity Address, Address Line One	13034 Ballantyne Corporate Place
Entity Address, City or Town	Charlotte,
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28277
City Area Code	704
Local Phone Number	357-0022
Title of 12(b) Security	Class A Common Stock, $0.01 Par Value
Trading Symbol	PINC
Security Exchange Name	NASDAQ
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		122,238,737
Entity Central Index Key	0001577916
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Assets
Cash and cash equivalents	$ 109,013	$ 99,304
Accounts receivable (net of $1,843 and $731 allowance for doubtful accounts, respectively)	166,438	135,063
Contract assets	239,139	215,660
Inventory	178,346	70,997
Prepaid expenses and other current assets	93,402	97,338
Total current assets	786,338	618,362
Property and equipment (net of $486,689 and $452,609 accumulated depreciation, respectively)	220,569	206,728
Intangible assets (net of $268,623 and $245,160 accumulated amortization, respectively)	395,581	417,422
Goodwill	942,263	941,965
Deferred income tax assets	825,668	430,025
Deferred compensation plan assets	55,035	49,175
Investments in unconsolidated affiliates	148,245	133,335
Operating lease right-of-use assets	52,890	57,823
Other assets	84,210	93,680
Total assets	3,510,799	2,948,515
Liabilities, redeemable limited partners' capital and stockholders' equity
Accounts payable	94,523	54,841
Accrued expenses	53,176	53,500
Revenue share obligations	203,763	145,777
Limited partners' distribution payable	0	8,012
Accrued compensation and benefits	59,120	73,262
Deferred revenue	32,491	35,446
Current portion of tax receivable agreements	0	13,689
Current portion of notes payable to members	95,069	0
Line of credit and current portion of long-term debt	105,798	79,560
Other liabilities	60,932	31,987
Total current liabilities	704,872	496,074
Long-term debt, less current portion	5,749	4,640
Tax receivable agreements, less current portion	0	279,981
Notes payable to members, less current portion	347,201	0
Deferred compensation plan obligations	55,035	49,175
Deferred tax liabilities	0	17,508
Deferred consideration, less current portion	83,700	112,917
Operating lease liabilities, less current portion	48,151	52,990
Other liabilities	93,675	75,658
Total liabilities	1,338,383	1,088,943
Commitments and contingencies
Redeemable limited partners' capital	0	1,720,309
Stockholders' equity:
Additional paid-in-capital	2,029,604	138,547
Retained earnings	141,590	0
Total stockholders' equity	2,172,416	139,263
Total liabilities, redeemable limited partners' capital and stockholders' equity	3,510,799	2,948,515
Class A Common Stock
Stockholders' equity:
Common stock	1,222	716
Class B Common Stock
Stockholders' equity:
Common stock	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Allowance for doubtful accounts	$ 1,843	$ 731
Accumulated depreciation	486,689	452,609
Accumulated amortization	$ 268,623	$ 245,160
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	122,228,635	71,627,462
Common stock, shares outstanding (in shares)	122,228,635	71,627,462
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.000001	$ 0.000001
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares issued (in shares)	0	50,213,098
Common stock, shares outstanding (in shares)	0	50,213,098

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Revenues [Abstract]
Net revenue	$ 422,827	$ 319,606	$ 769,714	$ 622,016
Cost of revenue:
Cost of revenue	211,844	100,241	364,022	191,252
Gross profit	210,983	219,365	405,692	430,764
Operating expenses:
Selling, general and administrative	129,997	86,093	253,951	200,022
Research and development	722	801	1,298	1,180
Amortization of purchased intangible assets	10,260	11,938	23,464	24,982
Operating expenses	140,979	98,832	278,713	226,184
Operating income	70,004	120,533	126,979	204,580
Equity in net income of unconsolidated affiliates	4,572	2,989	10,499	6,596
Interest and investment (loss) income, net	(3,398)	(359)	(5,517)	117
(Loss) gain on FFF put and call rights	(14,507)	30,222	(16,426)	22,383
Other income	4,890	2,747	8,573	3,009
Other (expense) income, net	(8,443)	35,599	(2,871)	32,105
Income before income taxes	61,561	156,132	124,108	236,685
Income tax expense (benefit)	16,657	64,557	(101,481)	74,171
Net income from continuing operations	44,904	91,575	225,589	162,514
Income from discontinued operations, net of tax	0	614	0	1,004
Net income	44,904	92,189	225,589	163,518
Net income from continuing operations attributable to non-controlling interest	(935)	(55,424)	(12,780)	(97,134)
Net income from discontinued operations attributable to non-controlling interest	0	(280)	0	(477)
Net income attributable to non-controlling interest	(935)	(55,704)	(12,780)	(97,611)
Adjustment of redeemable limited partners' capital to redemption amount	0	(480,153)	(26,685)	214,156
Net income attributable to stockholders	43,969	(443,668)	186,124	280,063
Comprehensive income:
Net income	44,904	92,189	225,589	163,518
Less: comprehensive income attributable to non-controlling interest	(935)	(55,704)	(12,780)	(97,611)
Comprehensive income attributable to stockholders	$ 43,969	$ 36,485	$ 212,809	$ 65,907
Weighted average shares outstanding:
Basic (in shares)	122,127	64,552	110,851	63,668
Diluted (in shares)	122,919	64,552	111,573	124,831
Earnings per share attributable to stockholders:
Basic earnings per share attributable to stockholders (in usd per share)	$ 0.36	$ (6.87)	$ 1.68	$ 4.40
Diluted earnings per share attributable to stockholders (in usd per share)	$ 0.36	$ (6.87)	$ 1.67	$ 1.13
Net administrative fees
Revenues [Abstract]
Net revenue	$ 145,339	$ 172,114	$ 277,984	$ 344,517
Other services and support
Revenues [Abstract]
Net revenue	97,818	89,452	196,645	171,338
Services
Revenues [Abstract]
Net revenue	243,157	261,566	474,629	515,855
Cost of revenue:
Cost of revenue	40,122	47,422	78,872	94,958
Products
Revenues [Abstract]
Net revenue	179,670	58,040	295,085	106,161
Cost of revenue:
Cost of revenue	$ 171,722	$ 52,819	$ 285,150	$ 96,294

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Stockholders' Equity (Deficit) - USD ($) shares in Thousands, $ in Thousands	Total	Common StockClass A Common Stock	Common StockClass B Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings / (Accumulated Deficit)	Impact of change in accounting principle	Impact of change in accounting principleRetained Earnings / (Accumulated Deficit)	Adjusted balance	Adjusted balanceCommon StockClass A Common Stock	Adjusted balanceCommon StockClass B Common Stock	Adjusted balanceTreasury Stock	Adjusted balanceAdditional Paid-In Capital	Adjusted balanceRetained Earnings / (Accumulated Deficit)
Beginning Balance (in shares) at Jun. 30, 2019		61,938	64,548	(2,419)						61,938	64,548	(2,419)
Beginning Balance at Jun. 30, 2019	$ (862,250)	$ 644	$ 0	$ (87,220)	$ 0	$ (775,674)	$ (899)	$ (899)	$ (863,149)	$ 644	$ 0	$ (87,220)	$ 0	$ (776,573)
Increase (Decrease) in Stockholders' Equity
Exchange of Class B common units for Class A common stock by member owners (in shares)		1,311	(1,311)	(1,311)
Exchange of Class B common units for Class A common stock by member owners	50,792			$ 47,258	3,534
Redemption of limited partners (in shares)			(782)
Redemption of limited partners	0
Increase in additional paid-in capital related to quarterly exchange by member owners, including associated TRA revaluation	12,272				12,272
Issuance of Class A common stock under equity incentive plan (in shares)		485
Issuance of Class A common stock under equity incentive plan	1,754	$ 5			1,749
Treasury stock (in shares)		1,055		(1,055)
Treasury stock	(35,649)			$ (35,649)
Stock-based compensation expense	3,704				3,704
Repurchase of vested restricted units for employee tax-withholding	(8,311)				(8,311)
Net income	71,329					71,329
Net income attributable to non-controlling interest	(41,907)					(41,907)
Adjustment of redeemable limited partners' capital to redemption amount	694,309				(12,948)	707,257
Ending Balance (in shares) at Sep. 30, 2019		62,679	62,455	(2,163)
Ending Balance at Sep. 30, 2019	(114,856)	$ 649	$ 0	$ (75,611)	0	(39,894)
Beginning Balance (in shares) at Jun. 30, 2019		61,938	64,548	(2,419)						61,938	64,548	(2,419)
Beginning Balance at Jun. 30, 2019	(862,250)	$ 644	$ 0	$ (87,220)	0	(775,674)	(899)	(899)	(863,149)	$ 644	$ 0	$ (87,220)	0	(776,573)
Increase (Decrease) in Stockholders' Equity
Increase in additional paid-in capital related to final exchange by member owners, including TRA termination	0
Net income	163,518
Reclassification of redeemable limited partners' capital to permanent equity	0
Early Termination Payments to members	0
Ending Balance (in shares) at Dec. 31, 2019		66,189	55,582	(681)
Ending Balance at Dec. 31, 2019	(432,880)	$ 669	$ 0	$ (23,718)	0	(409,831)
Beginning Balance (in shares) at Jun. 30, 2019		61,938	64,548	(2,419)						61,938	64,548	(2,419)
Beginning Balance at Jun. 30, 2019	(862,250)	$ 644	$ 0	$ (87,220)	0	(775,674)	(899)	(899)	(863,149)	$ 644	$ 0	$ (87,220)	0	(776,573)
Ending Balance (in shares) at Jun. 30, 2020		71,627	50,213	0						71,627	50,213	0
Ending Balance at Jun. 30, 2020	$ 139,263	$ 716	$ 0	$ 0	138,547	0	(1,228)	(1,228)	138,035	$ 716	$ 0	$ 0	138,547	(1,228)
Increase (Decrease) in Stockholders' Equity
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Beginning Balance (in shares) at Sep. 30, 2019		62,679	62,455	(2,163)
Beginning Balance at Sep. 30, 2019	$ (114,856)	$ 649	$ 0	$ (75,611)	0	(39,894)
Increase (Decrease) in Stockholders' Equity
Exchange of Class B common units for Class A common stock by member owners (in shares)		6,873	(6,873)	(5,031)
Exchange of Class B common units for Class A common stock by member owners	223,946	$ 19		$ 164,810	59,117
Increase in additional paid-in capital related to quarterly exchange by member owners, including associated TRA revaluation	1,103				1,103
Issuance of Class A common stock under equity incentive plan (in shares)		146
Issuance of Class A common stock under equity incentive plan	4,244	$ 1			4,243
Issuance of Class A common stock under employee stock purchase plan (in shares)		40
Issuance of Class A common stock under employee stock purchase plan	1,540	$ 0			1,540
Treasury stock (in shares)		3,549		(3,549)
Treasury stock	(112,917)			$ (112,917)
Stock-based compensation expense	7,775				7,775
Repurchase of vested restricted units for employee tax-withholding	(47)				(47)
Net income	92,189					92,189
Net income attributable to non-controlling interest	(55,704)					(55,704)
Adjustment of redeemable limited partners' capital to redemption amount	(480,153)				(73,731)	(406,422)
Ending Balance (in shares) at Dec. 31, 2019		66,189	55,582	(681)
Ending Balance at Dec. 31, 2019	(432,880)	$ 669	$ 0	$ (23,718)	0	(409,831)
Beginning Balance (in shares) at Jun. 30, 2020		71,627	50,213	0						71,627	50,213	0
Beginning Balance at Jun. 30, 2020	139,263	$ 716	$ 0	$ 0	138,547	0	(1,228)	(1,228)	138,035	$ 716	$ 0	$ 0	138,547	(1,228)
Increase (Decrease) in Stockholders' Equity
Exchange of Class B common units for Class A common stock by member owners (in shares)		70	(70)
Exchange of Class B common units for Class A common stock by member owners	2,437	$ 1			2,436
Increase in additional paid-in capital related to quarterly exchange by member owners, including associated TRA revaluation	37,319				37,319
Increase in additional paid-in capital related to final exchange by member owners, including TRA termination	517,526				517,526
Issuance of Class A common stock under equity incentive plan (in shares)		241
Issuance of Class A common stock under equity incentive plan	644	$ 2			642
Stock-based compensation expense	7,229				7,229
Repurchase of vested restricted units for employee tax-withholding	(3,023)				(3,023)
Net income	180,685					180,685
Net income attributable to non-controlling interest	(11,845)					(11,845)
Reclassification of redeemable limited partners' capital to permanent equity	1,754,607				1,750,840	3,767
Final exchange of Class B common units for Class A common stock by member owners (shares)		50,143	(50,143)
Final exchange of Class B common units for Class A common stock by member owners	0	$ 502			(502)
Early Termination Payments to members	(438,967)				(438,967)
Dividends ($0.19 per share)	(23,381)					(23,381)
Adjustment of redeemable limited partners' capital to redemption amount	(26,685)					(26,685)
Ending Balance (in shares) at Sep. 30, 2020		122,081	0	0
Ending Balance at Sep. 30, 2020	2,134,581	$ 1,221	$ 0	$ 0	2,012,047	121,313
Beginning Balance (in shares) at Jun. 30, 2020		71,627	50,213	0						71,627	50,213	0
Beginning Balance at Jun. 30, 2020	139,263	$ 716	$ 0	$ 0	138,547	0	$ (1,228)	$ (1,228)	$ 138,035	$ 716	$ 0	$ 0	$ 138,547	$ (1,228)
Increase (Decrease) in Stockholders' Equity
Increase in additional paid-in capital related to final exchange by member owners, including TRA termination	517,526
Net income	225,589
Reclassification of redeemable limited partners' capital to permanent equity	1,754,607
Early Termination Payments to members	(438,967)
Ending Balance (in shares) at Dec. 31, 2020		122,228	0	0
Ending Balance at Dec. 31, 2020	2,172,416	$ 1,222	$ 0	$ 0	2,029,604	141,590
Beginning Balance (in shares) at Sep. 30, 2020		122,081	0	0
Beginning Balance at Sep. 30, 2020	2,134,581	$ 1,221	$ 0	$ 0	2,012,047	121,313
Increase (Decrease) in Stockholders' Equity
Issuance of Class A common stock under equity incentive plan (in shares)		102
Issuance of Class A common stock under equity incentive plan	1,771	$ 1			1,770
Issuance of Class A common stock under employee stock purchase plan (in shares)		45
Issuance of Class A common stock under employee stock purchase plan	1,597	$ 0			1,597
Stock-based compensation expense	7,316				7,316
Repurchase of vested restricted units for employee tax-withholding	(28)				(28)
Net income	44,904					44,904
Net income attributable to non-controlling interest	0				935	(935)
Dividends ($0.19 per share)	(23,374)					(23,374)
Adjustment of redeemable limited partners' capital to redemption amount	0				318	(318)
Capital Contributions	1,959				1,959
Non-controlling interest in consolidated investments	3,690				3,690
Ending Balance (in shares) at Dec. 31, 2020		122,228	0	0
Ending Balance at Dec. 31, 2020	$ 2,172,416	$ 1,222	$ 0	$ 0	$ 2,029,604	$ 141,590

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Stockholders' Equity (Deficit) (Parenthetical) - $ / shares	3 Months Ended
	Dec. 31, 2020	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Per share amount of dividends (in usd per share)	$ 0.19	$ 0.19

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating activities
Net income	$ 225,589	$ 163,518
Adjustments to reconcile net income to net cash provided by operating activities:
Income from discontinued operations, net of tax	0	(1,004)
Depreciation and amortization	60,031	74,895
Equity in net income of unconsolidated affiliates	(10,499)	(6,596)
Deferred income taxes	(127,535)	53,368
Stock-based compensation	14,545	11,479
Remeasurement of tax receivable agreement liabilities	0	(23,682)
Loss (gain) on FFF put and call rights	16,426	(22,383)
Other	323	2,971
Changes in operating assets and liabilities, net of the effects of acquisitions:
Accounts receivable, inventories, prepaid expenses and other assets	(127,764)	(5,752)
Contract assets	(23,541)	(9,346)
Accounts payable, accrued expenses, deferred revenue, revenue share obligations and other liabilities	88,602	(20,447)
Net cash provided by operating activities from continuing operations	116,177	217,021
Net cash provided by operating activities from discontinued operations	0	10,028
Net cash provided by operating activities from continuing operations	116,177	227,049
Investing activities
Purchases of property and equipment	(44,864)	(44,768)
Acquisition of businesses, net of cash acquired	(791)	(34,727)
Investments in unconsolidated affiliates	0	(10,165)
Proceeds from sale of assets	0	3,632
Other	(1,228)	251
Net cash used in investing activities	(46,883)	(85,777)
Financing activities
Payments made on notes payable	(3,684)	(2,045)
Proceeds from credit facility	125,000	125,000
Payments on credit facility	(100,000)	(100,000)
Distributions to limited partners of Premier LP	(9,949)	(26,901)
Payments to limited partners of Premier LP related to tax receivable agreements	(24,218)	(17,425)
Cash dividends paid	(46,396)	0
Repurchase of Class A common stock (held as treasury stock)	0	(148,566)
Other	(338)	(820)
Net cash used in financing activities	(59,585)	(170,757)
Net increase (decrease) in cash and cash equivalents	9,709	(29,485)
Cash and cash equivalents at beginning of year	99,304	141,055
Cash and cash equivalents at end of period	$ 109,013	$ 111,570

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	6 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	(1) ORGANIZATION AND BASIS OF PRESENTATION Organization Premier, Inc. (“Premier” or the “Company”) is a publicly held, for-profit Delaware corporation located in the United States. The Company is a holding company with no material business operations of its own. The Company’s primary asset is its equity interest in its wholly owned subsidiary Premier Services, LLC, a Delaware limited liability company (“Premier GP”). Premier GP is the sole general partner of Premier Healthcare Alliance, L.P. (“Premier LP”), a California limited partnership. The Company conducts substantially all of its business operations through Premier LP and its other consolidated subsidiaries. The Company, together with its subsidiaries and affiliates, is a leading healthcare performance improvement company that unites hospitals, health systems, physicians and other healthcare providers to improve and innovate in the clinical, financial and operational areas of their businesses to meet the demands of a rapidly evolving healthcare industry. The Company’s business model and solutions are designed to provide its members and other customers access to scale efficiencies, spread the cost of their development, provide actionable intelligence derived from anonymized data in the Company’s enterprise data warehouse, mitigate the risk of innovation and disseminate best practices to help the Company’s member organizations and other customers succeed in their transformation to higher quality and more cost-effective healthcare. The Company, together with its subsidiaries and affiliates, delivers its integrated platform of solutions through two business segments: Supply Chain Services and Performance Services. See Note 17 - Segments for further information related to the Company’s reportable business segments. The Supply Chain Services segment includes one of the largest healthcare group purchasing organization (“GPO”) programs in the United States, supply chain co-management and direct sourcing activities. The Performance Services segment, through its development, integration and delivery of technology with wrap-around service offerings, includes one of the largest clinical analytics and consulting services businesses in the United States focused on healthcare providers. The Company is also expanding its capabilities to more fully address and coordinate care improvement and standardization in the employer, payor and life sciences markets. The Company’s software as a service (“SaaS”) and licensed-based clinical analytics products utilize the Company’s comprehensive data set to provide actionable intelligence to its members and other customers, enabling them to benchmark, analyze and identify areas of improvement across the three main categories of cost management, quality and safety, and value-based care. While leveraging these tools, the Company also combines its consulting services and technology-enabled performance improvement collaboratives to provide a more comprehensive and holistic customer value proposition and overall experience. The Performance Services segment also includes the Company’s direct to employer initiative and insurance management services. Company Structure and Restructuring The Company, through Premier GP and Premier Services II, LLC, a Delaware limited liability company, wholly owned subsidiary of the Company and the sole limited partner of Premier LP, held 100% interest in Premier LP at December 31, 2020. At June 30, 2020, the Company held a 59% sole general partner interest in Premier LP. At December 31, 2020 and June 30, 2020, members held a 0% and 41% limited partner interest in Premier LP, respectively. On July 31, 2020, after the resignation of three directors affiliated with the Company’s members, the Board of Directors consisted of fifteen (15) directors, comprised of eight (8) independent directors, six (6) member-directors and the Company’s Chief Executive Officer, thus having a majority of independent directors on the Board of Directors. Since the member-directors no longer comprised a majority of the Board of Directors, as of July 31, 2020, the limited partner’s redemption feature was under the control of the Company (not the holders of Class B common units). As a result, $1.8 billion representing the fair value of redeemable limited partners’ capital at July 31, 2020 was reclassified from temporary equity in the mezzanine section of the Condensed Consolidated Balance Sheets to additional paid in capital as a component of permanent equity. On August 11, 2020, the Company entered into an Agreement and Plan of Merger dated as of August 11, 2020 (the “Merger Agreement”), by and among the Company, Premier LP and BridgeCo, LLC (“BridgeCo”), a wholly owned subsidiary of Premier Services, LLC formed for the sole purpose of merging with and into Premier LP. Pursuant to the Merger Agreement, effective August 11, 2020, (i) BridgeCo merged with and into Premier LP, with Premier LP being the surviving entity (the “Merger”), and (ii) each of the issued and outstanding Class B common units was canceled and converted automatically into a right to receive one share of the Company’s Class A common stock. In conjunction with the Merger, all of the issued and outstanding shares of Class B common stock of the Company beneficially held by the former limited partners of Premier LP (individually a “LP” and collectively, the “LPs”) were canceled in accordance with the Company’s Certificate of Incorporation. The exchange agreement (“Exchange Agreement”), which allowed the Company to redeem Class B common units for cash or Class A common stock at its discretion, was terminated in connection with the restructuring activity discussed above. Furthermore, on August 10, 2020, the Company exercised its right to terminate the Tax Receivable Agreement (“TRA”). See Note 9 - Debt and Notes Payable and Note 14 - Income Taxes for further information. Basis of Presentation and Consolidation Basis of Presentation At December 31, 2020, the Company was wholly owned by public investors, which included member owners that received shares of Class A Stock in connection with the aforementioned restructuring as well as previous exchanges of Class B common units and associated Class B common stock. At June 30, 2020, the member owners’ interest in Premier LP was reflected as redeemable limited partners’ capital in the Company’s accompanying Condensed Consolidated Balance Sheets, and the limited partners’ proportionate share of income in Premier LP was reflected within net income attributable to non-controlling interest and within comprehensive income attributable to non-controlling interest in the Company’s accompanying Condensed Consolidated Statements of Income and Comprehensive Income. At June 30, 2020, public investors, which included member owners that received shares of Class A common stock in connection with previous exchanges of their Class B common units and associated Class B common shares, owned 59% of the Company’s outstanding common stock through their ownership of Class A common stock. The member owners owned 41% of the Company’s combined Class A and Class B common stock through their ownership of Class B common stock. Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC and in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and include the assets, liabilities, revenues and expenses of all majority-owned subsidiaries over which the Company exercised control and when applicable, entities for which the Company had a controlling financial interest or was the primary beneficiary. All intercompany transactions have been eliminated upon consolidation. Accordingly, certain information and disclosures normally included in annual financial statements have been condensed or omitted. The accompanying condensed consolidated financial statements reflect all adjustments that, in the opinion of management, are necessary for a fair presentation of results of operations and financial condition for the interim periods shown, including normal recurring adjustments. The Company believes that the disclosures are adequate to make the information presented not misleading and should be read in conjunction with the audited consolidated financial statements and related footnotes contained in the 2020 Annual Report. Supplementary Cash Flows Information The following table presents supplementary cash flows information for the six months ended December 31, 2020 and 2019 (in thousands): Six Months Ended December 31, 2020 2019 Supplemental schedule of non-cash investing and financing activities: Increase (decrease) in redeemable limited partners' capital for adjustment to fair value, with offsetting decrease (increase) in stockholders' equity $ 26,685 $ (214,156) Decrease in redeemable limited partners' capital, with offsetting increase in stockholders' equity related to quarterly exchanges by member owners (2,437) (274,738) Net increase in deferred tax assets related to departures and quarterly exchanges by member owners and other adjustments 331 49,631 Net increase in deferred tax assets related to final exchange by member owners 284,852 — Reclassification of redeemable limited partners' capital to additional paid in capital 1,754,607 — Decrease in additional paid-in capital related to notes payable to members, net of discounts 438,967 — Increase in additional paid-in capital related to departures and quarterly exchanges by member owners and other adjustments 37,319 13,375 Increase in additional paid-in capital related to final exchange by member owners 517,526 — Accrued dividend equivalents 363 — Variable Interest Entities At December 31, 2020, as a result of the aforementioned restructuring, Premier LP no longer meets the definition of a variable interest entity (“VIE”), as defined in Accounting Standards Codification (“ASC”) Topic 810. The results of operations of Premier LP are included in the condensed consolidated financial statements. At June 30, 2020, Premier LP was a VIE as the limited partners did not have the ability to exercise a substantive removal right with respect to the general partner. The Company, through Premier GP, had the exclusive power and authority to manage the business and affairs of Premier LP, to make all decisions with respect to driving the economic performance of Premier LP, and had both an obligation to absorb losses and a right to receive benefits. As such, the Company was the primary beneficiary of the VIE and consolidated the operations of Premier LP under the Variable Interest Model. The assets and liabilities of Premier LP at June 30, 2020, including assets and liabilities of discontinued operations, consisted of the following (in thousands): June 30, 2020 Assets Current $ 610,990 Noncurrent 1,900,137 Total assets of Premier LP $ 2,511,127 Liabilities Current $ 580,430 Noncurrent 296,801 Total liabilities of Premier LP $ 877,231 Net income attributable to Premier LP, including income and expense that has been classified as discontinued operations, during the three and six months ended December 31, 2019 was as follows (in thousands): Three Months Ended December 31, 2019 Six Months Ended December 31, 2019 Premier LP net income $ 122,105 $ 206,245 Premier LP’s cash flows, including cash flows attributable to discontinued operations, for the six months ended December 31, 2019 consisted of the following (in thousands): Six Months Ended December 31, 2019 Net cash provided by (used in): Operating activities $ 220,864 Investing activities (85,777) Financing activities (160,872) Net decrease in cash and cash equivalents (25,785) Cash and cash equivalents at beginning of year 131,210 Cash and cash equivalents at end of period $ 105,425 Use of Estimates in the Preparation of Financial Statements

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	(2) SIGNIFICANT ACCOUNTING POLICIES There have been no material changes to the Company’s significant accounting policies as described in the 2020 Annual Report, except as described below. Accounts Receivable Financial instruments, other than marketable securities, that subject the Company to potential concentrations of credit risk consist primarily of the Company's receivables. Receivables consist primarily of amounts due from hospital and healthcare system members for services and products. The Company maintains an allowance for expected credit losses. This allowance is an estimate and is regularly evaluated by the Company for adequacy by taking into consideration factors such as past experience, credit quality of the member and other customer base and age of the receivable balances, both individually and in the aggregate. As receivables are generally due within one year, changes to economic conditions are not expected to have a significant impact on our estimate of expected credit losses. However, we will monitor economic conditions on a quarterly basis to determine if any adjustments are deemed necessary. Provisions for the allowance for expected credit losses attributable to bad debt are recorded in selling, general and administrative expenses in the accompanying Consolidated Statements of Income and Comprehensive Income. Accounts deemed uncollectible are written off, net of actual recoveries. If circumstances related to specific customers change, the Company's estimate of the recoverability of receivables could be further adjusted. Contract Assets Supply Chain Services contract assets represents estimated member and other customer purchases on supplier contracts for which administrative fees have been earned, but not collected. Performance Services contract assets represents revenue earned for services provided but which the company is not contractually able to bill as of the end of the respective reporting period. Historically, we have not recognized a provision for contract assets. Under ASC Topic 326, we include Performance Services’ contract assets in our reserving process and assess the risk of loss similar to our methodology of the Company’s receivables, since the contract assets are reclassified to receivables when we become entitled to payment. Accordingly, a reserve is applied upon recognition of the contract asset. Recently Adopted Accounting Standards In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , (“ASU 2016-13”), which modifies the measurement of expected credit losses on certain financial instruments and the timing of when such losses are recorded. The Company adopted ASU 2016-13 effective July 1, 2020 on a modified retrospective basis which resulted in a reduction to retained earnings of $1.2 million. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement , (“ASU 2018-13”), which improves the effectiveness of fair value measurement disclosures by eliminating, adding and modifying certain disclosure requirements for fair value measurements as part of its disclosure framework project. Entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but public companies will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The Company adopted ASU 2018-13 effective July 1, 2020 and has updated the financial statements accordingly to reflect the updates in the disclosure requirements (see Note 6 - Fair Value Measurements). The implementation of ASU 2018-13 did not have a material effect on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles- Goodwill and Other-Internal Use Software (Topic 350): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract , (“ASU 2018-15”), which requires customers in a cloud computing arrangement (i.e., hosting arrangement) that is a service contract to follow the internal use software guidance in ASC 350-40 to determine which implementation costs to capitalize or expense. The Company adopted ASU 2018-15 effective July 1, 2020 on a prospective basis. The implementation of ASU 2018-15 did not have a material effect on the Company’s condensed consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , (“ASU 2020-04”), which provides optional expedients for contract modification that replace a reference rate affected by reference rate reform and contemporaneous modifications of other contract terms related to the replacement of the reference rate. Additionally, ASU 2020-04 allows companies to make a one-time election to sell, transfer, or both sell and transfer debt securities classified as held to maturity at any time between March 12, 2020 and December 21, 2022. The amendments are effective during the period of March 12, 2020 through December 31, 2022. The Company does not expect the adoption of ASU 2020-04 to have a material impact on the Company’s condensed consolidated financial statements and related disclosures.

BUSINESS ACQUISITIONS

BUSINESS ACQUISITIONS	6 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
BUSINESS ACQUISITIONS	(3) BUSINESS ACQUISITIONS Acquisition of Health Design Plus, LLC On May 4, 2020, the Company, through its consolidated subsidiary Premier Healthcare Solutions, Inc. (“PHSI”), acquired 97% of the equity of Health Design Plus, LLC (“HDP”) for an adjusted purchase price of $23.8 million, giving effect to certain purchase price adjustments provided for in the purchase agreement. The transaction was funded with borrowings under the Company’s Credit Facility (as defined below). The purchase price allocation was finalized during the three months ended December 31, 2020. Acquisition of Acurity and Nexera Assets On February 28, 2020, the Company acquired substantially all of the assets and certain liabilities of Acurity, Inc. and Nexera, Inc. (the “Acurity and Nexera asset acquisition”). The Company agreed to pay an aggregate amount of $291.5 million, of which $166.1 million was paid at closing with borrowings under the Credit Facility. An additional $120.0 million will be paid in four equal annual installments of $30.0 million on or about June 30, 2021, 2022, 2023 and 2024. An additional $4.7 million was paid to GNYHA during the three months ended September 30, 2020. In addition, the asset purchase agreement provides an earn-out opportunity for Acurity, Inc. of up to $30.0 million based upon the Company’s achievement of a range of member renewals on terms to be agreed to by the Company and GNYHA based on prevailing market conditions in December 2023. As of December 31, 2020, the fair value of the earn-out liability was $22.7 million (see Note 6 - Fair Value Measurements). Prior to entering into the purchase agreement, Acurity, Inc. agreed to provide one-time rebates of $93.8 million to certain of its then members based on their pre-closing purchasing volume. The Company concluded that these one-time rebates should be excluded from the purchase price and capitalized as prepaid contract administrative fee share at closing. As a result, the total fair value of consideration paid as part of the acquisition totaled $202.6 million. The purchase price allocation was finalized during the three months ended September 30, 2020. Acquisition of Medpricer On October 28, 2019, the Company, through its consolidated subsidiary Premier Supply Chain Improvement, Inc. (“PSCI”), acquired all of the outstanding capital stock in Medpricer.com, Inc. (“Medpricer”) for an adjusted purchase price of $38.5 million. The transaction was funded with borrowings under the Credit Facility. The acquisition provides the sellers an earn-out opportunity of up to $5.0 million based on Medpricer’s achievement of a revenue target for the calendar year ended December 31, 2020. As of December 31, 2020, the value of the earn-out liability was $4.7 million. The purchase price allocation was finalized during the three months ended September 30, 2020.

DISCONTINUED OPERATIONS AND EXI

DISCONTINUED OPERATIONS AND EXIT ACTIVITIES	6 Months Ended
	Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS AND EXIT ACTIVITIES	(4) DISCONTINUED OPERATIONS AND EXIT ACTIVITIES In connection with the sale of certain assets and wind down and exit from the specialty pharmacy business, the Company met the criteria for classifying certain assets and liabilities of its specialty pharmacy business as a discontinued operation as of June 30, 2019. Prior to its classification as a discontinued operation, the specialty pharmacy business was included as part of the Supply Chain Services segment. As of June 30, 2020, the Company had completed the wind down and exit from the specialty pharmacy business and had no net income or loss from discontinued operations for the three and six months ended December 31, 2020. The following table summarizes the major components of net income from discontinued operations (in thousands): Three Months Ended December 31, 2019 Six Months Ended December 31, 2019 Selling, general and administrative expense (79) 1,857 Operating expenses (79) 1,857 Operating gain (loss) from discontinued operations 79 (1,857) Net gain on disposal of assets 822 3,231 Income from discontinued operations before income taxes 901 1,374 Income tax expense 287 370 Income from discontinued operations, net of tax 614 1,004 Net income from discontinued operations attributable to non-controlling interest in Premier LP (280) (477) Net income from discontinued operations attributable to stockholders $ 334 $ 527

INVESTMENTS

INVESTMENTS	6 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS	(5) INVESTMENTS Investments in Unconsolidated Affiliates The Company’s investments in unconsolidated affiliates consisted of the following (in thousands): Carrying Value Equity in Net Income Three Months Ended Six Months Ended December 31, December 31, December 31, 2020 June 30, 2020 2020 2019 2020 2019 FFF $ 116,785 $ 109,204 $ 3,007 $ 2,885 $ 7,581 $ 6,490 Prestige 13,840 11,194 1,594 — 2,646 — Other investments 17,620 12,937 (29) 104 272 106 Total investments $ 148,245 $ 133,335 $ 4,572 $ 2,989 $ 10,499 $ 6,596 The Company, through PSCI, held a 49% interest in FFF Enterprises, Inc. (“FFF”) through its ownership of stock of FFF at December 31, 2020 and June 30, 2020. The Company records the fair value of the FFF put and call rights in the accompanying Condensed Consolidated Balance Sheets (see Note 6 - Fair Value Measurements for additional information). The Company accounts for its investment in FFF using the equity method of accounting and includes the investment as part of the Supply Chain Services segment.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	(6) FAIR VALUE MEASUREMENTS Recurring Fair Value Measurements The following tables provide for the periods presented a summary of the Company’s financial assets and liabilities measured at fair value on a recurring basis (in thousands): December 31, 2020 Fair Value of Financial Assets and Liabilities Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Cash equivalents $ 75 $ 75 $ — $ — Deferred compensation plan assets 59,228 59,228 — — Total assets 59,303 59,303 — — Earn-out liabilities 22,700 — — 22,700 FFF put right 53,184 — — 53,184 Total liabilities $ 75,884 $ — $ — $ 75,884 June 30, 2020 Fair Value of Financial Assets and Liabilities Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Cash equivalents $ 13,272 $ 13,272 $ — $ — Deferred compensation plan assets 52,538 52,538 — — Total assets 65,810 65,810 — — Earn-out liability 33,151 — — 33,151 FFF put right 36,758 — — 36,758 Total liabilities $ 69,909 $ — $ — $ 69,909 Deferred compensation plan assets consisted of highly liquid mutual fund investments, which were classified as Level 1. The current portion of deferred compensation plan assets ($4.2 million and $3.4 million at December 31, 2020 and June 30, 2020, respectively) was included in prepaid expenses and other current assets in the accompanying Condensed Consolidated Balance Sheets. Financial Instruments Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) FFF put and call rights In connection with the Company’s equity investment in FFF, the Company entered into a shareholders’ agreement that provides, among other things, that the majority shareholder of FFF holds a put right that requires the Company to purchase the majority shareholder’s interest in FFF, on an all or nothing basis, on or after April 15, 2023. Any required purchase by the Company upon exercise of the put right by FFF’s majority shareholder must be made at a per share price equal to FFF’s earnings before interest, taxes, depreciation and amortization (“EBITDA”) over the twelve calendar months prior to the purchase date multiplied by a market adjusted multiple, adjusted for any outstanding debt and cash and cash equivalents (“Equity Value per Share”). In addition, in the event of a Key Man Event (generally defined in the shareholders’ agreement as the resignation, termination for cause, death or disability of the majority shareholder), the Company has a call right that requires the majority shareholder to sell its remaining interest in FFF to the Company, and is exercisable at any time within the later of 180 calendar days after (i) the date of a Key Man Event or (ii) January 30, 2021. As of December 31, 2020 and June 30, 2020, the call right had zero value. In the event that either of these rights are exercised, the purchase price for the additional interest in FFF will be at a per share price equal to the Equity Value per Share. The fair values of the FFF put and call rights were determined using a Monte Carlo simulation in a risk-neutral framework based on the Equity Value per Share calculation using unobservable inputs, which included the estimated FFF put and call rights’ expiration dates, the forecast of FFF’s EBITDA and enterprise value over the option period, forecasted movements in the overall market and the likelihood of a Key Man Event. FFF’s enterprise value over the option period was valued utilizing expected annual EBITDA and Revenue growth rates, among other assumptions. The resulting FFF enterprise value was an assumption utilized in the valuation of the put and call rights. Significant increases to weighted average cost of capital, business enterprise value, correlation and credit spread could significantly decrease the liability while a significant increase to asset volatility, EBITDA growth rate and revenue growth rate could significantly increase the liability. The Company utilized the following assumptions to estimate the fair value of FFF Put and Call Rights: December 31, 2020 June 30, 2020 Annual EBITDA growth rate 2.5-10.8% 2.5-26.5% Annual revenue growth rate 2.5-6.3% 1.4-14.4% Correlation 80.0 % 80.0 % Weighted average cost of capital 14.0 % 14.5 % Asset volatility 30.0 % 28.0 % Credit spread 1.0 % 1.7 % The significant assumptions using the Monte Carlo simulation approach for valuation of the Put and Call Rights are: (i) Annual EBITDA Growth Rate: The forecasted EBITDA growth range over six years; (ii) Annual Revenue Growth Rate: The forecasted Revenue growth range over six years; (iii) Correlation: The estimated correlation between future Business Enterprise Value and EBITDA of FFF; (iv) Weighted Average Cost of Capital: The expected rate paid to security holders to finance debt and equity; (v) Asset volatility: Based on the asset volatility of guideline public companies in the healthcare industry; and (vi) Credit Spread: Based on term-matched BBB yield curve. The Company recorded the FFF put and call rights within long-term other liabilities and long-term other assets, respectively, within the accompanying Condensed Consolidated Balance Sheets. Net changes in the fair values of the FFF put and call rights were recorded within other (expense) income, net in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income. Earn-out liabilities Earn-out liabilities were established in connection with the Acurity and Nexera asset acquisition as well as the Stanson Health, Inc. (“Stanson”) and Medpricer acquisitions. The earn-out liability associated with the Acurity and Nexera asset acquisition was classified as Level 3 of the fair value hierarchy. The earn-out liability associated with the Medpricer acquisition is no longer measured at fair value as of December 31, 2020, given the Company’s anticipation of Medpricer achieving a portion of the earn-out. The full earn-out associated with the Stanson acquisition was paid to former employees and shareholders as of December 31, 2020. The earn-out liability arising from expected earn-out payments related to the Acurity and Nexera asset acquisition were measured on the acquisition date using a probability-weighted expected payment model and are remeasured periodically due to changes in management’s estimates of the number of member renewals and market conditions. In determining the fair value of the contingent liabilities, management reviews the current results of the acquired business, along with projected results for the remaining earn-out period, to calculate the expected earn-out payment to be made based on the contractual terms set out in the respective acquisition agreement. The Acurity and Nexera earn-out liability utilized a credit spread of 1.0% at December 31, 2020 and June 30, 2020. As of December 31, 2020 and June 30, 2020, the undiscounted range of outcomes is between $0 and $30.0 million. A significant decrease in the probability could result in a significant decrease in the value of the earn-out liability. The fair value of the Acurity and Nexera earn-out liability at December 31, 2020 and June 30, 2020 was $22.7 million. Acurity and Nexera Earn-out (a) Input assumptions As of December 31, 2020 As of June 30, 2020 Probability of transferred member renewal percentage < 50% 5.0 % 5.0 % Probability of transferred member renewal percentage between 50% and 65% 10.0 % 10.0 % Probability of transferred member renewal percentage between 65% and 80% 25.0 % 25.0 % Probability of transferred member renewal percentage > 80% 60.0 % 60.0 % Credit spread 1.0 % 1.0 % (a) The Acurity and Nexera earn-out liability was initially valued as of February 28, 2020. A reconciliation of the Company’s FFF put and call rights and earn-out liabilities is as follows (in thousands): Beginning Balance Purchases (Settlements) (a) Gain (Loss) (b) Ending Balance Three Months Ended December 31, 2020 Earn-out liabilities 23,017 (4,660) (4,343) 22,700 FFF put right 38,677 — (14,507) 53,184 Total Level 3 liabilities $ 61,694 $ (4,660) $ (18,850) $ 75,884 Three Months Ended December 31, 2019 FFF call right $ 52 $ — $ (52) $ — Total Level 3 assets 52 — (52) — Earn-out liabilities 9,390 3,781 (249) 13,420 FFF put right 49,339 — 30,274 19,065 Total Level 3 liabilities $ 58,729 $ 3,781 $ 30,025 $ 32,485 Six Months Ended December 31, 2020 Earn-out liabilities 33,151 (13,733) (3,282) 22,700 FFF put right 36,758 — (16,426) 53,184 Total Level 3 liabilities $ 69,909 $ (13,733) $ (19,708) $ 75,884 Six Months Ended December 31, 2019 FFF call right $ 204 $ — $ (204) $ — Total Level 3 assets 204 — (204) — Earn-out liabilities 6,816 3,781 (2,823) 13,420 FFF put right 41,652 — 22,587 19,065 Total Level 3 liabilities $ 48,468 $ 3,781 $ 19,764 $ 32,485 (a) Purchases (Settlements) for the three months ended December 31, 2020 includes the Medpricer earnout, which has been earned in part but not yet paid as of December 31, 2020. Purchases (Settlements) for the six months ended December 31, 2020 includes the Medpricer earnout, which has been earned in part but not yet paid as of December 31, 2020 and the Stanson earnout, which was paid in full as of December 31, 2020. (b) A gain on level 3 asset balances will increase the asset ending balance whereby a gain on level 3 liability balances will decrease the liability ending balance. A loss on level 3 asset balances will decrease the asset ending balance whereby a loss on level 3 liability balance will increase the liability ending balance. Non-Recurring Fair Value Measurements During the six months ended December 31, 2020, the Company recorded notes payable to members resulting from the deferral of the early termination payments associated with the termination of the TRA as part of the August 2020 restructuring. These notes include a Level 2 input associated with the implied interest rate of 1.8% and are calculated as of August 11, 2020. (see Note 9 - Debt and Notes Payable). Financial Instruments For Which Fair Value Only is Disclosed The fair values of non-interest bearing notes payable, classified as Level 2, were less than their carrying value by $0.2 million at December 31, 2020 and June 30, 2020, based on assumed market interest rates of 1.6% for both periods. Other Financial Instruments

CONTRACT BALANCES

CONTRACT BALANCES	6 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
CONTRACT BALANCES	(7) CONTRACT BALANCES Deferred Revenue Revenue recognized during the six months ended December 31, 2020 that was included in the opening balance of deferred revenue at June 30, 2020 was $14.8 million, which is a result of satisfying performance obligations. Performance Obligations A performance obligation is a promise to transfer a distinct good or service to a customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Contracts may have a single performance obligation as the promise to transfer individual goods or services is not separately identifiable from other promises and, therefore, not distinct, while other contracts may have multiple performance obligations, most commonly due to the contract covering multiple phases or deliverable arrangements (licensing fees, implementation fees, maintenance and support fees, professional fees for consulting services), including certain performance guarantees. Net revenue recognized during the three months ended December 31, 2020 from performance obligations that were satisfied or partially satisfied in prior periods was $3.1 million. The net revenue recognized was driven by a $4.9 million increase in net administrative fees revenue related to under-forecasted cash receipts received in the current period partially offset by a reduction of $1.8 million associated with revised forecasts from underlying contracts that include variable consideration components as well as additional fluctuations due to input method contracts which occur in the normal course of business. The reduction to net revenue recognized during the six months ended December 31, 2020 from performance obligations that were satisfied or partially satisfied in prior periods was $3.2 million. The reduction was driven by a $2.5 million decrease in net administrative fees revenue related to over-forecasted cash receipts received in the current period and a reduction of $0.7 million associated with revised forecasts from underlying contracts that include variable consideration components as well as additional fluctuations due to input method contracts which occur in the normal course of business. Reduction in net revenue recognized during the three and six months ended December 31, 2019 from performance obligations that were satisfied or partially satisfied in prior periods was $1.9 million and $0.7 million, respectively. The reduction was driven by $3.0 million and $4.5 million, respectively, associated with revised forecasts from underlying contracts that include variable consideration components as well as additional fluctuations due to input method contracts which occur in the normal course of business. This was offset by $1.1 million and $3.8 million, respectively, of net administrative fees revenue related to under-forecasted cash receipts received in the current period. Remaining performance obligations represent the portion of the transaction price that has not yet been satisfied or achieved. As of December 31, 2020, the aggregate amount of the transaction price allocated to remaining performance obligations was $600.0 million. The Company expects to recognize approximately 44% of the remaining performance obligations over the next 12 months and an additional 27% over the following 12 months, with the remainder recognized thereafter.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	(8) GOODWILL AND INTANGIBLE ASSETS Goodwill Goodwill consisted of the following (in thousands): Supply Chain Services Performance Services Total June 30, 2020 $ 387,722 $ 554,243 $ 941,965 Adjustments to acquisition purchase price 780 (482) 298 December 31, 2020 $ 388,502 $ 553,761 $ 942,263 The change in goodwill since June 30, 2020 is a result of measurement period adjustments from the Acurity and Nexera asset acquisition and the HDP acquisition. See Note 3 - Business Acquisitions for more information. Intangible Assets, Net Intangible assets, net consisted of the following (in thousands): Useful Life December 31, 2020 June 30, 2020 Member relationships 14.7 years $ 386,100 $ 386,100 Technology 5.6 years 164,117 164,117 Customer relationships 9.6 years 70,830 70,830 Trade names 7.5 years 24,160 24,160 Non-compete agreements 5.3 years 11,315 11,315 Other (a) 10.2 years 7,682 6,060 Total intangible assets 664,204 662,582 Accumulated amortization (268,623) (245,160) Total intangible assets, net $ 395,581 $ 417,422 (a) Includes a $1.0 million indefinite-lived asset that was acquired through the HDP acquisition.

DEBT AND NOTES PAYABLE

DEBT AND NOTES PAYABLE	6 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
DEBT AND NOTES PAYABLE	(9) DEBT AND NOTES PAYABLE Long-term debt and notes payable consisted of the following (in thousands): December 31, 2020 June 30, 2020 Credit Facility $ 100,000 $ 75,000 Notes payable to members 442,270 — Other notes payable 11,547 9,200 Total debt and notes payable 553,817 84,200 Less: current portion (200,867) (79,560) Total long-term debt and notes payable $ 352,950 $ 4,640 Credit Facility Premier LP, along with its consolidated subsidiaries, PSCI and PHSI, as Co-Borrowers, Premier GP and certain domestic subsidiaries of Premier GP, as guarantors, entered into an unsecured Credit Facility, dated as of November 9, 2018 (the “Credit Facility”). The Credit Facility has a maturity date of November 9, 2023, subject to up to two one-year extensions at the request of the Co-Borrowers and approval of a majority of the lenders under the Credit Facility. The Credit Facility provides for borrowings of up to $1.0 billion with (i) a $50.0 million sub-facility for standby letters of credit and (ii) a $100.0 million sub-facility for swingline loans. The Credit Facility also provides that Co-Borrowers may from time to time (i) incur incremental term loans and (ii) request an increase in the revolving commitments under the Credit Facility, together up to an aggregate of $350.0 million, subject to the approval of the lenders providing such term loans or revolving commitment increases. The Credit Facility includes an unconditional and irrevocable guaranty of all obligations under the Credit Facility by Premier GP, certain domestic subsidiaries of Premier GP and future guarantors, if any. Premier, Inc. is not a guarantor under the Credit Facility. Outstanding borrowings under the Credit Facility bear interest on a variable rate structure with borrowings bearing interest at either London Interbank Offered Rate (“LIBOR”) plus an applicable margin ranging from 1.000% to 1.500% or the prime lending rate plus an applicable margin ranging from 0.000% to 0.500%. At December 31, 2020, the interest rate on outstanding borrowings under the Credit Facility was 1.150%. The Credit Facility contains customary representations and warranties as well as customary affirmative and negative covenants. Premier GP was in compliance with all such covenants at December 31, 2020. The Credit Facility also contains customary events of default, including a cross-default of any indebtedness or guarantees in excess of $75.0 million. If any event of default occurs and is continuing, the administrative agent under the Credit Facility may, with the consent, or shall, at the request of a majority of the lenders under the Credit Facility, terminate the commitments and declare all of the amounts owed under the Credit Facility to be immediately due and payable. Proceeds from borrowings under the Credit Facility may generally be used to finance ongoing working capital requirements, including permitted acquisitions, repurchases of Class A common stock pursuant to stock repurchase programs, dividend payments, if and when declared, and other general corporate activities. During the six months ended December 31, 2020, the Company borrowed $125.0 million and repaid $100.0 million of borrowings under the Credit Facility. The Company had $100.0 million in outstanding borrowings under the Credit Facility at December 31, 2020 with $899.9 million of available borrowing capacity after reductions for outstanding borrowings and outstanding letters of credit. Notes Payable Notes Payable to Members On August 10, 2020, the Company exercised its right to terminate the TRA by and among the Company and the former limited partners of Premier LP by providing all former LPs a notice of the termination and the amount of the expected payment to be made to each LP pursuant to the early termination provisions of the TRA (each such amount an “Early Termination Payment”) with a determination date of August 10, 2020 (the “Determination Date”). The valuation of the Early Termination Payment is based on the average of the closing prices of a share of Class A Stock on the stock exchange over the 20 trading days ending three days prior to the Determination Date. Certain LPs elected to execute a Unit Exchange and Tax Receivable Acceleration Agreement (“Unit Exchange Agreement”) in connection with the Company’s August 2020 restructuring, which deferred the Early Termination Payments, without interest, over 18 quarterly installments commencing during the quarter ended March 31, 2021 and ending in the quarter ending June 30, 2025. While non-interest bearing, pursuant to GAAP requirements, the notes payable to members were recorded net of imputed interest of 1.8%. At December 31, 2020, the Company had $442.3 million of notes payable to members, net of discounts on notes payable of $19.8 million, of which $95.1 million was recorded to current portion of notes payable to members in the accompanying Condensed Consolidated Balance Sheets. Other At December 31, 2020 and June 30, 2020, the Company had $11.5 million and $9.2 million in other notes payable, respectively, of which $5.8 million and $4.6 million, respectively, were included in current portion of long-term debt in the accompanying Condensed Consolidated Balance Sheets. Other notes payable do not bear interest and generally have stated maturities of three Future minimum principal payments on total outstanding notes payable as of December 31, 2020 are as follows (in thousands): 2021 (a) $ 57,140 2022 105,211 2023 103,629 2024 104,231 2025 103,419 Total principal payments $ 473,630 (a) For the period from January 1, 2021 to June 30, 2021.

REDEEMABLE LIMITED PARTNERS' CA

REDEEMABLE LIMITED PARTNERS' CAPITAL	6 Months Ended
	Dec. 31, 2020
Temporary Equity Disclosure [Abstract]
REDEEMABLE LIMITED PARTNERS' CAPITAL	(10) REDEEMABLE LIMITED PARTNERS' CAPITAL On July 31, 2020, after the resignation of three directors affiliated with the Company’s members, the Board of Directors consisted of fifteen (15) directors, comprised of eight (8) independent directors, six (6) member-directors and the Company’s Chief Executive Officer, thus having a majority of independent directors on the Board of Directors. Since the member-directors no longer comprised a majority of the Board of Directors, as of July 31, 2020, the limited partner’s redemption feature was under the control of the Company (not the holders of Class B common units). As a result, $1.8 billion representing the fair value of redeemable limited partners’ capital at July 31, 2020 was reclassified from temporary equity in the mezzanine section of the Condensed Consolidated Balance Sheets to additional paid in capital as a component of permanent equity. For the six months ended December 31, 2020 and 2019, the Company recorded adjustments to the fair value of redeemable limited partners’ capital as an adjustment of redeemable limited partners’ capital to redemption amount in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income in the amounts of $(26.7) million and $214.2 million, respectively. With respect to the six months ended December 31, 2020, no adjustments to the fair value of redeemable limited partners’ capital as an adjustment of redeemable limited partners’ capital to redemption amount were recorded subsequent to July 31, 2020 in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income. Refer to “Company Structure and Restructuring” in Note 1 - Organization and Basis of Presentation. The tables below provide a summary of the changes in redeemable limited partners’ capital from June 30, 2020 to September 30, 2020 and June 30, 2019 to December 31, 2019 (in thousands). There were no changes in redeemable limited partner’s capital from September 30, 2020 to December 31, 2020. Receivables From Limited Partners Redeemable Limited Partners' Capital Total Redeemable Limited Partners' Capital June 30, 2020 $ (995) $ 1,721,304 $ 1,720,309 Distributions applied to receivables from limited partners 141 — 141 Net income attributable to non-controlling interest in Premier LP — 11,845 11,845 Distributions to limited partners — (1,936) (1,936) Exchange of Class B common units for Class A common stock by member owners — (2,437) (2,437) Adjustment of redeemable limited partners' capital to redemption amount — 26,685 26,685 Reclassification to permanent equity 854 (1,755,461) (1,754,607) September 30, 2020 $ — $ — $ — Receivables From Limited Partners Redeemable Limited Partners’ Capital Total Redeemable Limited Partners’ Capital June 30, 2019 $ (1,204) $ 2,524,474 $ 2,523,270 Distributions applied to receivables from limited partners 69 — 69 Redemption of limited partners — (1,371) (1,371) Net income attributable to non-controlling interest in Premier LP — 41,907 41,907 Distributions to limited partners — (13,699) (13,699) Exchange of Class B common units for Class A common stock by member owners — (50,792) (50,792) Adjustment of redeemable limited partners' capital to redemption amount — (694,309) (694,309) September 30, 2019 (1,135) 1,806,210 1,805,075 Distributions applied to receivables from limited partners 70 — 70 Net income attributable to non-controlling interest in Premier LP — 55,704 55,704 Distributions to limited partners — (12,689) (12,689) Exchange of Class B common units for Class A common stock by member owners — (223,946) (223,946) Adjustment of redeemable limited partners' capital to redemption amount — 480,153 480,153 December 31, 2019 $ (1,065) $ 2,105,432 $ 2,104,367 Pursuant to the Exchange Agreement in place prior to the August 2020 restructuring, each limited partner had the cumulative right to exchange up to one-seventh of its initial allocation of Class B common units for shares of Class A common stock, cash or a combination of both, the form of consideration to be at the discretion of the Company's independent Audit and Compliance Committee of the Board of Directors. During the six months ended December 31, 2020, the Company recorded total reductions of $2.4 million to redeemable limited partners' capital prior to the August 2020 restructuring to reflect the exchange of 0.1 million Class B common units and surrender and retirement of a corresponding number of shares of Class B common stock by member owners for a like number of shares of the Company's Class A common stock (see Note 12 - Earnings Per Share for more information). On August 11, 2020, the Exchange Agreement was terminated in connection with the restructuring as discussed in Note 1 - Organization and Basis of Presentation. Quarterly exchanges during the six months ended December 31, 2020 were as follows (in thousands, except Class B common units): Date of Quarterly Exchange Number of Class B Common Units Exchanged Reduction in Redeemable Limited Partners' Capital July 31, 2020 69,684 $ 2,437

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Dec. 31, 2020
Equity [Abstract]
STOCKHOLDERS' EQUITY	(11) STOCKHOLDERS' EQUITY As of December 31, 2020, there were 122,228,635 shares of the Company's Class A common stock, par value $0.01 per share, outstanding. Holders of Class A common stock are entitled to (i) one vote for each share held of record on all matters submitted to a vote of stockholders, (ii) receive dividends, when and if declared by the Board of Directors out of funds legally available, subject to any statutory or contractual restrictions on the payment of dividends and subject to any restrictions on the payment of dividends imposed by the terms of any outstanding preferred stock or any class of series of stock having a preference over or the right to participate with the Class A common stock with respect to the payment of dividends or other distributions and (iii) receive pro rata, based on the number of shares of Class A common stock held, the remaining assets available for distribution upon the dissolution or liquidation of Premier, after payment in full of all amounts required to be paid to creditors and to the holders of preferred stock having liquidation preferences, if any. On July 31, 2020, $1.8 billion representing the fair value of redeemable limited partners capital on July 31, 2020 was reclassified from temporary equity in the mezzanine section of the Condensed Consolidated Balance Sheets to additional paid in capital as a component of permanent equity. Refer to Note 10 - Redeemable Limited Partners' Capital for further discussion. On September 15, 2020 and December 15, 2020, the Company paid a cash dividend of $0.19 per share on outstanding shares of Class A common stock to stockholders of record on September 1, 2020 and December 1, 2020, respectively. On January 21, 2021, the Board of Directors declared a cash dividend of $0.19 per share, payable on March 15, 2021 to stockholders of record on March 1, 2021. On August 11, 2020, pursuant to the Merger Agreement, each of the issued and outstanding Class B common units was canceled and converted automatically into a right to receive one share of the Company’s Class A common stock. In conjunction with the Merger, all of the issued and outstanding shares of Class B common stock of the Company beneficially held by the LPs were canceled in accordance with the Company’s Certificate of Incorporation. On August 11, 2020, the Company issued 50,143,414 shares of Class A common stock pursuant to the Merger.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE	(12) EARNINGS PER SHARE Basic earnings per share is computed by dividing net income attributable to stockholders by the weighted average number of shares of common stock outstanding for the period. Net income attributable to stockholders includes the adjustment recorded in the period to reflect redeemable limited partners’ capital at the redemption amount, which is due to the exchange benefit obtained by limited partners through the ownership of Class B common units. Except when the effect would be anti-dilutive, the diluted earnings (loss) per share calculation, which is calculated using the treasury stock method, includes the impact of shares that could be issued under the outstanding stock options, non-vested restricted stock units and awards, shares of non-vested performance share awards and the effect of the assumed redemption of Class B common units through the issuance of Class A common shares. On August 11, 2020, pursuant to the Merger Agreement, each of the issued and outstanding Class B common units (and corresponding shares of the Company’s Class B common stock) was canceled and converted automatically into a right to receive one share of the Company’s Class A common stock, and the Company issued an aggregate of 50,143,414 shares of Class A common stock. Refer to Note 1 - Organization and Basis of Presentation for further discussion. The following table provides a reconciliation of the numerator and denominator used for basic and diluted (loss) earnings per share (in thousands, except per share amounts): Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 Numerator for basic earnings per share: Net income from continuing operations attributable to stockholders (a) $ 43,969 $ (444,002) $ 186,124 $ 279,536 Net income from discontinued operations attributable to stockholders — 334 — 527 Net income attributable to stockholders $ 43,969 $ (443,668) $ 186,124 $ 280,063 Numerator for diluted earnings per share: Net income from continuing operations attributable to stockholders (a) $ 43,969 $ (444,002) $ 186,124 $ 279,536 Adjustment of redeemable limited partners’ capital to redemption amount — — — (214,156) Net income from continuing operations attributable to non-controlling interest in Premier LP — — — 97,134 Net income from continuing operations 43,969 (444,002) 186,124 162,514 Tax effect on Premier, Inc. net income (b)(c) — — — (22,941) Adjusted net income from continuing operations $ 43,969 $ (444,002) $ 186,124 $ 139,573 Net income from discontinued operations attributable to stockholders $ — $ 334 $ — $ 527 Net income from discontinued operations attributable to non-controlling interest in Premier LP — — — 477 Adjusted net income from discontinued operations $ — $ 334 $ — $ 1,004 Adjusted net income $ 43,969 $ (443,668) $ 186,124 $ 140,577 Denominator for earnings per share: Basic weighted average shares outstanding (d) 122,127 64,552 110,851 63,668 Effect of dilutive securities: (e) Stock options 321 — 287 420 Restricted stock 333 — 318 250 Performance share awards 138 — 117 — Class B shares outstanding — — — 60,493 Diluted weighted average shares and assumed conversions 122,919 64,552 111,573 124,831 Earnings per share attributable to stockholders: Basic earnings per share attributable to stockholders $ 0.36 $ (6.87) $ 1.68 $ 4.40 Diluted earnings per share attributable to stockholders $ 0.36 $ (6.87) $ 1.67 $ 1.13 (a) Net income from continuing operations attributable to stockholders was calculated as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 Net income from continuing operations $ 44,904 $ 91,575 $ 225,589 $ 162,514 Net income from continuing operations attributable to non-controlling interest (935) (55,424) (12,780) (97,134) Adjustment of redeemable limited partners’ capital to redemption amount — (480,153) (26,685) 214,156 Net income from continuing operations attributable to stockholders $ 43,969 $ (444,002) $ 186,124 $ 279,536 (b) For the three and six months ended December 31, 2020, the tax expense related to Premier, Inc. retaining the portion of net income from continuing operations attributable to income from non-controlling interest in Premier, LP was calculated as a component of the income tax provision for the three and six months ended December 31, 2020. (c) For the three and six months ended December 31, 2019, represents income tax expense related to Premier, Inc. retaining the portion of net income from continuing operations attributable to income from non-controlling interest in Premier, LP for the purpose of diluted (loss) earnings per share. (d) Weighted average number of common shares used for basic earnings per share excludes weighted average shares of non-vested stock options, non-vested restricted stock, non-vested performance share awards and Class B shares outstanding for the three and six months ended December 31, 2020 and 2019. (e) For the three months ended December 31, 2020, the effect of 0.4 million stock options and restricted stock units were excluded from diluted weighted average shares outstanding as they had an anti-dilutive effect. For the six months ended December 31, 2020, the effect of 1.1 million stock options and restricted stock units and 11.2 million Class B common units were excluded from diluted weighted average shares outstanding as they had an anti-dilutive effect. For the three and six months ended December 31, 2020, the effect of 0.6 million performance share awards was excluded from diluted weighted average shares outstanding as the awards had not satisfied the applicable performance criteria at the end of the period. For the three months ended December 31, 2019, the effect of 57.9 million class B common units exchangeable for Class A common shares and 0.6 million stock options and restricted units was excluded from diluted weighted average shares outstanding due to the net loss from continuing operations attributable to stockholders sustained for the period and as including them would have an anti-dilutive effect for the period. For the three and six months ended December 31, 2019, the effect of 0.5 million performance share awards was excluded from diluted weighted average shares outstanding as the awards had not satisfied the applicable performance criteria at the end of the period. Pursuant to the Exchange Agreement in place prior to the August 2020 restructuring, on a quarterly basis, the Company had the option, as determined by the Audit and Compliance Committee, to settle the exchange of Class B common units of Premier LP by member owners for cash, an equal number of Class A common shares of Premier, Inc. or a combination of cash and shares of Class A common stock. In connection with the exchange of Class B common units by member owners, regardless of the consideration used to settle the exchange, an equal number of shares of Premier's Class B common stock were surrendered by member owners and retired (see Note 10 - Redeemable Limited Partners' Capital). On August 11, 2020, the Exchange Agreement was terminated in connection with the restructuring as discussed in Note 1 - Organization and Basis of Presentation. The following table presents certain information regarding the exchange of Class B common units and associated Class B common stock for Premier's Class A common stock and/or cash in connection with the quarterly exchange pursuant to the terms of the Exchange Agreement, including activity related to the Class A and Class B common units and Class A and Class B common stock through the date of the applicable quarterly exchange: Quarterly Exchange by Member Owners Class B Common Shares Retired Upon Exchange (a) Class B Common Shares Outstanding After Exchange (a) Class A Common Shares Outstanding After Exchange (b) Percentage of Combined Voting Power Class B/Class A Common Stock July 31, 2020 69,684 50,143,414 71,724,149 41%/59% (a) The number of Class B common shares retired or outstanding is equivalent to the number of Class B common units retired upon exchange or outstanding after the exchange, as applicable. (b) The number of Class A common shares outstanding after exchange also includes activity related to the Company's share repurchase program equity incentive plan (see Note 13 - Stock-Based Compensation).

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	(13) STOCK-BASED COMPENSATION Stock-based compensation expense is recognized over the requisite service period, which generally equals the stated vesting period. The associated deferred tax benefit was calculated at a rate of 26% for the three months ended December 31, 2020 and 25% for the three months ended December 31, 2019, which represents the expected effective income tax rate at the time of the compensation expense deduction and differs from the Company’s current effective income tax rate which includes the impact of the Merger. See Note 14 - Income Taxes for further information. Stock-based compensation expense and the resulting deferred tax benefits were as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 Pre-tax stock-based compensation expense $ 7,316 $ 7,775 $ 14,545 $ 11,479 Deferred tax benefit (a) 1,011 1,959 2,120 2,893 Total stock-based compensation expense, net of tax $ 6,305 $ 5,816 $ 12,425 $ 8,586 (a) For the three and six months ended December 31, 2020, the deferred tax benefit was reduced by $0.9 million and 1.7 million, respectively, attributable to stock-based compensation expense that is nondeductible for tax purposes pursuant to Section 162(m) as amended by the Tax Cuts and Jobs Act of 2017. Premier 2013 Equity Incentive Plan The Premier 2013 Equity Incentive Plan, as amended and restated (and including any further amendments thereto, the “2013 Equity Incentive Plan”) provides for grants of up to 14.8 million shares of Class A common stock, all of which are eligible to be issued as non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units or performance share awards. As of December 31, 2020, there were 5.3 million shares available for grant under the 2013 Equity Incentive Plan. The following table includes information related to restricted stock, performance share awards and stock options for the six months ended December 31, 2020: Restricted Stock Performance Share Awards Stock Options Number of Awards Weighted Average Fair Value at Grant Date Number of Awards Weighted Average Fair Value at Grant Date Number of Options Weighted Average Exercise Price Outstanding at June 30, 2020 681,538 $ 37.91 1,606,309 $ 37.58 2,544,137 $ 30.17 Granted 511,609 $ 31.84 685,238 $ 29.17 — $ — Vested/exercised (196,178) $ 34.36 (161,544) $ 32.77 (84,427) $ 31.48 Forfeited (45,864) $ 36.67 (381,177) $ 33.65 (28,869) $ 35.09 Outstanding at December 31, 2020 951,105 $ 35.43 1,748,826 $ 35.57 2,430,841 $ 30.06 Stock options outstanding and exercisable at December 31, 2020 2,428,417 $ 30.06 Restricted stock units and restricted stock awards issued and outstanding generally vest over a three-year period for employees and a one-year period for directors. Performance share awards issued and outstanding generally vest over a three-year period if performance targets are met. Stock options have a term of ten years from the date of grant. Vested stock options will expire either twelve months after an employee’s termination with Premier or immediately upon an employee’s termination with Premier, depending on the termination circumstances. Stock options generally vest in equal annual installments over three years. Unrecognized stock-based compensation expense at December 31, 2020 was as follows (in thousands): Unrecognized Stock-Based Compensation Expense Weighted Average Amortization Period Restricted stock $ 21,413 2.1 years Performance share awards 32,709 1.9 years Stock options 4 0.2 years Total unrecognized stock-based compensation expense $ 54,126 2.0 years The aggregate intrinsic value of stock options at December 31, 2020 was as follows (in thousands): Intrinsic Value of Stock Options Outstanding and exercisable $ 12,484 Expected to vest 7 Total outstanding $ 12,491 Exercised during the year ended December 31, 2020 302

INCOME TAXES

INCOME TAXES	6 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	(14) INCOME TAXES On August 11, 2020, the Company entered into the Merger Agreement and pursuant to the Merger Agreement, each of the issued and outstanding Class B common units was canceled and converted automatically into a right to receive one share of the Company’s Class A common stock. In conjunction with the Merger, all the issued and outstanding shares of Class B common stock of the Company beneficially held by the LPs were canceled in accordance with the Company’s Certificate of Incorporation. At the consummation of the Merger, the Company simplified its tax structure, resulting in the Company and its subsidiaries forming one consolidated filing group for tax purposes. As a result, the Company recorded a one-time deferred tax benefit of $132.0 million, primarily driven by deferred tax remeasurement due to the change in the state statutory rate and valuation allowance release. Income tax expense for the three months ended December 31, 2020 and 2019 was $16.7 million and $64.6 million, respectively, which reflects effective tax rates of 27% and 41%, respectively. The change in the effective tax rate for the three months ended December 31, 2020 is primarily attributable to the remeasurement of deferred tax balances related to the change in state income tax law in November 2019. Income tax (benefit) expense for the six months ended December 31, 2020 and 2019 was $(101.5) million and $74.2 million, respectively, which reflects effective tax rates of (82)% and 31%, respectively. The change in the effective tax rate for the six months ended December 31, 2020 is primarily driven by the aforementioned one-time deferred tax remeasurement and valuation allowance release as a result of the Merger. Absent of the one-time deferred tax benefit, the effective tax rate is 24% for the six months ended December 31, 2020. Net deferred tax assets increased by $413.2 million to $825.7 million at December 31, 2020 from $412.5 million at June 30, 2020. The increase in net deferred tax assets was largely driven by an increase of $285.0 million in deferred tax assets related to the final exchange of all outstanding Class B common units for the Company’s Class A common stock on August 11, 2020 and $132.0 million deferred tax remeasurement and valuation allowance release as a result of the Merger.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	(15) RELATED PARTY TRANSACTIONS The Company’s 49% ownership share of net income of FFF, which was acquired on July 26, 2016, included in equity in net income of unconsolidated affiliates in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income was $3.0 million and $2.9 million for the three months ended December 31, 2020 and 2019, respectively, and $7.6 million and $6.5 million for the six months ended December 31, 2020 and 2019, respectively. The Company maintains group purchasing agreements with FFF and receives administrative fees for purchases made by the Company’s members and other customers pursuant to those agreements. Net administrative fees revenue recorded from purchases under those agreements was $1.7 million and $2.4 million during the three months ended December 31, 2020 and 2019, respectively, and $3.5 million and $4.6 million for the six months ended December 31, 2020 and 2019.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	(16) COMMITMENTS AND CONTINGENCIES Operating Leases Operating lease expense for the three months ended December 31, 2020 and 2019 was $2.7 million and $2.6 million, respectively. Operating lease expense for the six months ended December 31, 2020 and 2019 was $5.6 million and $5.5 million, respectively. As of December 31, 2020, the weighted average remaining lease term was 5.3 years and the weighted average discount rate was 4%. Future minimum lease payments under noncancelable operating leases with initial lease terms in excess of one year were as follows (in thousands): December 31, 2020 June 30, 2020 2021 (a) $ 5,960 $ 12,171 2022 11,738 11,738 2023 12,012 12,012 2024 12,145 12,145 2025 12,177 12,177 Thereafter 10,171 10,171 Total future minimum lease payments 64,203 70,414 Less: imputed interest 6,375 7,567 Total operating lease liabilities (b) $ 57,828 $ 62,847 (a) As of December 31, 2020, future minimum lease payments are for the period from January 1, 2021 to June 30, 2021. (b) As of December 31, 2020, total operating lease liabilities included $9.7 million within other liabilities, current in the Condensed Consolidated Balance Sheets. Other Matters The Company is not currently involved in any litigation it believes to be material. The Company is periodically involved in litigation, arising in the ordinary course of business or otherwise, which from time to time may include claims relating to commercial, product liability, tort and personal injury, employment, antitrust, intellectual property, or other regulatory matters. If current or future government regulations, specifically, those with respect to antitrust or healthcare laws, are interpreted or enforced in a manner adverse to the Company or its business, the Company may be subject to enforcement actions, penalties and other material limitations which could have a material adverse effect on the Company’s business, financial condition and results of operations.

SEGMENTS

SEGMENTS	6 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
SEGMENTS	(17) SEGMENTS The Company delivers its solutions and manages its business through two reportable business segments, the Supply Chain Services segment and the Performance Services segment. The Supply Chain Services segment includes the Company’s GPO, supply chain co-management and direct sourcing activities. The Performance Services segment includes the Company’s informatics, collaborative, consulting services, direct to employer initiative and insurance management services businesses. The following table presents disaggregated revenue by business segment and underlying source (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 Net revenue: Supply Chain Services Net administrative fees $ 145,339 $ 172,114 $ 277,984 $ 344,517 Other services and support 4,086 2,482 9,677 5,043 Services 149,425 174,596 287,661 349,560 Products 179,670 58,040 295,085 106,161 Total Supply Chain Services (a) 329,095 232,636 582,746 455,721 Performance Services (a) 93,732 86,970 186,968 166,295 Net revenue $ 422,827 $ 319,606 $ 769,714 $ 622,016 (a) Includes intersegment revenue that is eliminated in consolidation. Intersegment revenue is not separately identified in Segments as the amounts are not material. Additional segment information related to depreciation and amortization expense, capital expenditures and total assets was as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 Depreciation and amortization expense (a) : Supply Chain Services $ 9,417 $ 4,869 $ 18,219 $ 9,694 Performance Services 17,810 30,293 37,567 60,913 Corporate 2,126 2,154 4,245 4,288 Total depreciation and amortization expense $ 29,353 $ 37,316 $ 60,031 $ 74,895 Capital expenditures: Supply Chain Services $ 2,699 $ 609 $ 5,575 $ 2,086 Performance Services 16,912 18,612 35,283 37,116 Corporate 271 3,564 4,006 5,566 Total capital expenditures $ 19,882 $ 22,785 $ 44,864 $ 44,768 December 31, 2020 June 30, 2020 Total assets: Supply Chain Services $ 1,612,334 $ 1,483,751 Performance Services 948,760 930,968 Corporate 949,709 538,248 Total assets 3,510,803 2,952,967 Eliminations (b) (4) (4,452) Total assets, net $ 3,510,799 $ 2,948,515 (a) Includes amortization of purchased intangible assets. (b) Includes eliminations of intersegment transactions which occur during the ordinary course of business. The Company uses Segment Adjusted EBITDA (a financial measure not determined in accordance with generally accepted accounting principles (“Non-GAAP”)) as its primary measure of profit or loss to assess segment performance and to determine the allocation of resources. The Company also uses Segment Adjusted EBITDA to facilitate the comparison of the segment operating performance on a consistent basis from period to period. The Company defines Segment Adjusted EBITDA as the segment’s net revenue and equity in net income of unconsolidated affiliates less operating expenses directly attributable to the segment excluding depreciation and amortization, amortization of purchased intangible assets, merger and acquisition related expenses and non-recurring or non-cash items. Operating expenses directly attributable to the segment include expenses associated with sales and marketing, general and administrative and product development activities specific to the operation of each segment. Non-recurring items are income or expenses and other items that have not been earned or incurred within the prior two years and are not expected to recur within the next two years. General and administrative corporate expenses that are not specific to a particular segment are not included in the calculation of Segment Adjusted EBITDA. Segment Adjusted EBITDA also excludes any income and expense that has been classified as discontinued operations. For more information on Segment Adjusted EBITDA and the use of Non-GAAP financial measures, see “Our Use of Non-GAAP Financial Measures” within Item 2 - Management’s Discussion and Analysis of Financial Condition and Results of Operations. A reconciliation of income before income taxes to Segment Adjusted EBITDA is as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 Income before income taxes $ 61,561 $ 156,132 $ 124,108 $ 236,685 Equity in net income of unconsolidated affiliates (a) (4,572) (2,989) (10,499) (6,596) Interest and investment loss (income), net 3,398 359 5,517 (117) Loss on FFF put and call rights (b) 14,507 (30,222) 16,426 (22,383) Other income (4,890) (2,747) (8,573) (3,009) Operating income 70,004 120,533 126,979 204,580 Depreciation and amortization 19,093 25,378 36,567 49,913 Amortization of purchased intangible assets 10,260 11,938 23,464 24,982 Stock-based compensation (c) 7,415 7,838 14,790 11,690 Acquisition and disposition related expenses 7,918 2,835 10,763 8,976 Remeasurement of tax receivable agreement liabilities (d) — (28,356) — (23,682) Equity in net income of unconsolidated affiliates (a) 4,572 2,989 10,499 6,596 Deferred compensation plan income (e) 4,803 2,751 7,710 2,992 Other expense, net 753 2,499 4,789 2,614 Non-GAAP Adjusted EBITDA $ 124,818 $ 148,405 $ 235,561 $ 288,661 Segment Non-GAAP Adjusted EBITDA: Supply Chain Services (f) $ 118,939 $ 147,959 $ 221,590 $ 297,870 Performance Services (f) 36,609 29,967 73,724 50,343 Corporate (30,730) (29,521) (59,753) (59,552) Non-GAAP Adjusted EBITDA $ 124,818 $ 148,405 $ 235,561 $ 288,661 (a) Refer to Note 5 - Investments for more information. (b) Refer to Note 6 - Fair Value Measurements for more information. (c) Includes non-cash employee stock-based compensation expense and stock purchase plan expense of $0.1 million during both of the three months ended December 31, 2020 and 2019 and $0.2 million during both of the six months ended December 31, 2020 and 2019. (d) The adjustments to TRA liabilities for the three and six months ended December 31, 2020 is primarily attributable to decreases in the Premier, Inc. effective tax rate related to state tax liabilities. (e) Represents realized and unrealized gains and losses and dividend income on deferred compensation plan assets. (f) Includes intersegment revenue which is eliminated in consolidation.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation At December 31, 2020, the Company was wholly owned by public investors, which included member owners that received shares of Class A Stock in connection with the aforementioned restructuring as well as previous exchanges of Class B common units and associated Class B common stock.
Principles of Consolidation	Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC and in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and include the assets, liabilities, revenues and expenses of all majority-owned subsidiaries over which the Company exercised control and when applicable, entities for which the Company had a controlling financial interest or was the primary beneficiary. All intercompany transactions have been eliminated upon consolidation. Accordingly, certain information and disclosures normally included in annual financial statements have been condensed or omitted. The accompanying condensed consolidated financial statements reflect all adjustments that, in the opinion of management, are necessary for a fair presentation of results of operations and financial condition for the interim periods shown, including normal recurring adjustments. The Company believes that the disclosures are adequate to make the information presented not misleading and should be read in conjunction with the audited consolidated financial statements and related footnotes contained in the 2020 Annual Report.
Variable Interest Entities	Variable Interest Entities At December 31, 2020, as a result of the aforementioned restructuring, Premier LP no longer meets the definition of a variable interest entity (“VIE”), as defined in Accounting Standards Codification (“ASC”) Topic 810. The results of operations of Premier LP are included in the condensed consolidated financial statements.
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial StatementsThe preparation of the Company’s condensed consolidated financial statements in accordance with GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosure of contingent assets and liabilities. Significant estimates are evaluated on an ongoing basis, including estimates for net administrative fees revenue, other services and support revenue, contract assets, deferred revenue, contract costs, allowances for doubtful accounts, useful lives of property and equipment, stock-based compensation, deferred tax balances including valuation allowances on deferred tax assets, uncertain tax positions, values of investments not publicly traded, projected future cash flows used in the evaluation of asset impairments, values of put and call rights, values of earn-out liabilities and the allocation of purchase prices. These estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.
Accounts Receivable	Accounts ReceivableFinancial instruments, other than marketable securities, that subject the Company to potential concentrations of credit risk consist primarily of the Company's receivables. Receivables consist primarily of amounts due from hospital and healthcare system members for services and products. The Company maintains an allowance for expected credit losses. This allowance is an estimate and is regularly evaluated by the Company for adequacy by taking into consideration factors such as past experience, credit quality of the member and other customer base and age of the receivable balances, both individually and in the aggregate. As receivables are generally due within one year, changes to economic conditions are not expected to have a significant impact on our estimate of expected credit losses. However, we will monitor economic conditions on a quarterly basis to determine if any adjustments are deemed necessary. Provisions for the allowance for expected credit losses attributable to bad debt are recorded in selling, general and administrative expenses in the accompanying Consolidated Statements of Income and Comprehensive Income. Accounts deemed uncollectible are written off, net of actual recoveries. If circumstances related to specific customers change, the Company's estimate of the recoverability of receivables could be further adjusted.
Contract Assets	Contract Assets Supply Chain Services contract assets represents estimated member and other customer purchases on supplier contracts for which administrative fees have been earned, but not collected. Performance Services contract assets represents revenue earned for services provided but which the company is not contractually able to bill as of the end of the respective reporting period. Historically, we have not recognized a provision for contract assets. Under ASC Topic 326, we include Performance Services’ contract assets in our reserving process and assess the risk of loss similar to our methodology of the Company’s receivables, since the contract assets are reclassified to receivables when we become entitled to payment. Accordingly, a reserve is applied upon recognition of the contract asset.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted	Recently Adopted Accounting Standards In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , (“ASU 2016-13”), which modifies the measurement of expected credit losses on certain financial instruments and the timing of when such losses are recorded. The Company adopted ASU 2016-13 effective July 1, 2020 on a modified retrospective basis which resulted in a reduction to retained earnings of $1.2 million. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement , (“ASU 2018-13”), which improves the effectiveness of fair value measurement disclosures by eliminating, adding and modifying certain disclosure requirements for fair value measurements as part of its disclosure framework project. Entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but public companies will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. The Company adopted ASU 2018-13 effective July 1, 2020 and has updated the financial statements accordingly to reflect the updates in the disclosure requirements (see Note 6 - Fair Value Measurements). The implementation of ASU 2018-13 did not have a material effect on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles- Goodwill and Other-Internal Use Software (Topic 350): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract , (“ASU 2018-15”), which requires customers in a cloud computing arrangement (i.e., hosting arrangement) that is a service contract to follow the internal use software guidance in ASC 350-40 to determine which implementation costs to capitalize or expense. The Company adopted ASU 2018-15 effective July 1, 2020 on a prospective basis. The implementation of ASU 2018-15 did not have a material effect on the Company’s condensed consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , (“ASU 2020-04”), which provides optional expedients for contract modification that replace a reference rate affected by reference rate reform and contemporaneous modifications of other contract terms related to the replacement of the reference rate. Additionally, ASU 2020-04 allows companies to make a one-time election to sell, transfer, or both sell and transfer debt securities classified as held to maturity at any time between March 12, 2020 and December 21, 2022. The amendments are effective during the period of March 12, 2020 through December 31, 2022. The Company does not expect the adoption of ASU 2020-04 to have a material impact on the Company’s condensed consolidated financial statements and related disclosures.

ORGANIZATION AND BASIS OF PRE_2

ORGANIZATION AND BASIS OF PRESENTATION (Tables)	6 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Supplemental Cash Flow Information	The following table presents supplementary cash flows information for the six months ended December 31, 2020 and 2019 (in thousands): Six Months Ended December 31, 2020 2019 Supplemental schedule of non-cash investing and financing activities: Increase (decrease) in redeemable limited partners' capital for adjustment to fair value, with offsetting decrease (increase) in stockholders' equity $ 26,685 $ (214,156) Decrease in redeemable limited partners' capital, with offsetting increase in stockholders' equity related to quarterly exchanges by member owners (2,437) (274,738) Net increase in deferred tax assets related to departures and quarterly exchanges by member owners and other adjustments 331 49,631 Net increase in deferred tax assets related to final exchange by member owners 284,852 — Reclassification of redeemable limited partners' capital to additional paid in capital 1,754,607 — Decrease in additional paid-in capital related to notes payable to members, net of discounts 438,967 — Increase in additional paid-in capital related to departures and quarterly exchanges by member owners and other adjustments 37,319 13,375 Increase in additional paid-in capital related to final exchange by member owners 517,526 — Accrued dividend equivalents 363 —
Schedule of Financial Information of Premier LP	The assets and liabilities of Premier LP at June 30, 2020, including assets and liabilities of discontinued operations, consisted of the following (in thousands): June 30, 2020 Assets Current $ 610,990 Noncurrent 1,900,137 Total assets of Premier LP $ 2,511,127 Liabilities Current $ 580,430 Noncurrent 296,801 Total liabilities of Premier LP $ 877,231 Net income attributable to Premier LP, including income and expense that has been classified as discontinued operations, during the three and six months ended December 31, 2019 was as follows (in thousands): Three Months Ended December 31, 2019 Six Months Ended December 31, 2019 Premier LP net income $ 122,105 $ 206,245 Premier LP’s cash flows, including cash flows attributable to discontinued operations, for the six months ended December 31, 2019 consisted of the following (in thousands): Six Months Ended December 31, 2019 Net cash provided by (used in): Operating activities $ 220,864 Investing activities (85,777) Financing activities (160,872) Net decrease in cash and cash equivalents (25,785) Cash and cash equivalents at beginning of year 131,210 Cash and cash equivalents at end of period $ 105,425

DISCONTINUED OPERATIONS AND E_2

DISCONTINUED OPERATIONS AND EXIT ACTIVITIES (Tables)	6 Months Ended
	Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Major Classes of Assets and Liabilities and Major Components of Net Income (Loss) From Discontinued Operations	The following table summarizes the major components of net income from discontinued operations (in thousands): Three Months Ended December 31, 2019 Six Months Ended December 31, 2019 Selling, general and administrative expense (79) 1,857 Operating expenses (79) 1,857 Operating gain (loss) from discontinued operations 79 (1,857) Net gain on disposal of assets 822 3,231 Income from discontinued operations before income taxes 901 1,374 Income tax expense 287 370 Income from discontinued operations, net of tax 614 1,004 Net income from discontinued operations attributable to non-controlling interest in Premier LP (280) (477) Net income from discontinued operations attributable to stockholders $ 334 $ 527

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Investments in Unconsolidated Affiliates	The Company’s investments in unconsolidated affiliates consisted of the following (in thousands): Carrying Value Equity in Net Income Three Months Ended Six Months Ended December 31, December 31, December 31, 2020 June 30, 2020 2020 2019 2020 2019 FFF $ 116,785 $ 109,204 $ 3,007 $ 2,885 $ 7,581 $ 6,490 Prestige 13,840 11,194 1,594 — 2,646 — Other investments 17,620 12,937 (29) 104 272 106 Total investments $ 148,245 $ 133,335 $ 4,572 $ 2,989 $ 10,499 $ 6,596

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities	The following tables provide for the periods presented a summary of the Company’s financial assets and liabilities measured at fair value on a recurring basis (in thousands): December 31, 2020 Fair Value of Financial Assets and Liabilities Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Cash equivalents $ 75 $ 75 $ — $ — Deferred compensation plan assets 59,228 59,228 — — Total assets 59,303 59,303 — — Earn-out liabilities 22,700 — — 22,700 FFF put right 53,184 — — 53,184 Total liabilities $ 75,884 $ — $ — $ 75,884 June 30, 2020 Fair Value of Financial Assets and Liabilities Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Cash equivalents $ 13,272 $ 13,272 $ — $ — Deferred compensation plan assets 52,538 52,538 — — Total assets 65,810 65,810 — — Earn-out liability 33,151 — — 33,151 FFF put right 36,758 — — 36,758 Total liabilities $ 69,909 $ — $ — $ 69,909
Fair Value Measurement Inputs and Valuation Assumptions	The Company utilized the following assumptions to estimate the fair value of FFF Put and Call Rights: December 31, 2020 June 30, 2020 Annual EBITDA growth rate 2.5-10.8% 2.5-26.5% Annual revenue growth rate 2.5-6.3% 1.4-14.4% Correlation 80.0 % 80.0 % Weighted average cost of capital 14.0 % 14.5 % Asset volatility 30.0 % 28.0 % Credit spread 1.0 % 1.7 % Acurity and Nexera Earn-out (a) Input assumptions As of December 31, 2020 As of June 30, 2020 Probability of transferred member renewal percentage < 50% 5.0 % 5.0 % Probability of transferred member renewal percentage between 50% and 65% 10.0 % 10.0 % Probability of transferred member renewal percentage between 65% and 80% 25.0 % 25.0 % Probability of transferred member renewal percentage > 80% 60.0 % 60.0 % Credit spread 1.0 % 1.0 % (a) The Acurity and Nexera earn-out liability was initially valued as of February 28, 2020.
Reconciliation of Earn-Out Liabilities and FFF Put Rights	A reconciliation of the Company’s FFF put and call rights and earn-out liabilities is as follows (in thousands): Beginning Balance Purchases (Settlements) (a) Gain (Loss) (b) Ending Balance Three Months Ended December 31, 2020 Earn-out liabilities 23,017 (4,660) (4,343) 22,700 FFF put right 38,677 — (14,507) 53,184 Total Level 3 liabilities $ 61,694 $ (4,660) $ (18,850) $ 75,884 Three Months Ended December 31, 2019 FFF call right $ 52 $ — $ (52) $ — Total Level 3 assets 52 — (52) — Earn-out liabilities 9,390 3,781 (249) 13,420 FFF put right 49,339 — 30,274 19,065 Total Level 3 liabilities $ 58,729 $ 3,781 $ 30,025 $ 32,485 Six Months Ended December 31, 2020 Earn-out liabilities 33,151 (13,733) (3,282) 22,700 FFF put right 36,758 — (16,426) 53,184 Total Level 3 liabilities $ 69,909 $ (13,733) $ (19,708) $ 75,884 Six Months Ended December 31, 2019 FFF call right $ 204 $ — $ (204) $ — Total Level 3 assets 204 — (204) — Earn-out liabilities 6,816 3,781 (2,823) 13,420 FFF put right 41,652 — 22,587 19,065 Total Level 3 liabilities $ 48,468 $ 3,781 $ 19,764 $ 32,485 (a) Purchases (Settlements) for the three months ended December 31, 2020 includes the Medpricer earnout, which has been earned in part but not yet paid as of December 31, 2020. Purchases (Settlements) for the six months ended December 31, 2020 includes the Medpricer earnout, which has been earned in part but not yet paid as of December 31, 2020 and the Stanson earnout, which was paid in full as of December 31, 2020.
Reconciliation of FFF Call Rights	A reconciliation of the Company’s FFF put and call rights and earn-out liabilities is as follows (in thousands): Beginning Balance Purchases (Settlements) (a) Gain (Loss) (b) Ending Balance Three Months Ended December 31, 2020 Earn-out liabilities 23,017 (4,660) (4,343) 22,700 FFF put right 38,677 — (14,507) 53,184 Total Level 3 liabilities $ 61,694 $ (4,660) $ (18,850) $ 75,884 Three Months Ended December 31, 2019 FFF call right $ 52 $ — $ (52) $ — Total Level 3 assets 52 — (52) — Earn-out liabilities 9,390 3,781 (249) 13,420 FFF put right 49,339 — 30,274 19,065 Total Level 3 liabilities $ 58,729 $ 3,781 $ 30,025 $ 32,485 Six Months Ended December 31, 2020 Earn-out liabilities 33,151 (13,733) (3,282) 22,700 FFF put right 36,758 — (16,426) 53,184 Total Level 3 liabilities $ 69,909 $ (13,733) $ (19,708) $ 75,884 Six Months Ended December 31, 2019 FFF call right $ 204 $ — $ (204) $ — Total Level 3 assets 204 — (204) — Earn-out liabilities 6,816 3,781 (2,823) 13,420 FFF put right 41,652 — 22,587 19,065 Total Level 3 liabilities $ 48,468 $ 3,781 $ 19,764 $ 32,485 (a) Purchases (Settlements) for the three months ended December 31, 2020 includes the Medpricer earnout, which has been earned in part but not yet paid as of December 31, 2020. Purchases (Settlements) for the six months ended December 31, 2020 includes the Medpricer earnout, which has been earned in part but not yet paid as of December 31, 2020 and the Stanson earnout, which was paid in full as of December 31, 2020.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill consisted of the following (in thousands): Supply Chain Services Performance Services Total June 30, 2020 $ 387,722 $ 554,243 $ 941,965 Adjustments to acquisition purchase price 780 (482) 298 December 31, 2020 $ 388,502 $ 553,761 $ 942,263
Schedule of Intangible Assets	Intangible assets, net consisted of the following (in thousands): Useful Life December 31, 2020 June 30, 2020 Member relationships 14.7 years $ 386,100 $ 386,100 Technology 5.6 years 164,117 164,117 Customer relationships 9.6 years 70,830 70,830 Trade names 7.5 years 24,160 24,160 Non-compete agreements 5.3 years 11,315 11,315 Other (a) 10.2 years 7,682 6,060 Total intangible assets 664,204 662,582 Accumulated amortization (268,623) (245,160) Total intangible assets, net $ 395,581 $ 417,422 (a) Includes a $1.0 million indefinite-lived asset that was acquired through the HDP acquisition.

DEBT AND NOTES PAYABLE (Tables)

DEBT AND NOTES PAYABLE (Tables)	6 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Long-Term Debt and Notes Payable	Long-term debt and notes payable consisted of the following (in thousands): December 31, 2020 June 30, 2020 Credit Facility $ 100,000 $ 75,000 Notes payable to members 442,270 — Other notes payable 11,547 9,200 Total debt and notes payable 553,817 84,200 Less: current portion (200,867) (79,560) Total long-term debt and notes payable $ 352,950 $ 4,640
Schedule of Future Minimum Principal Payments	Future minimum principal payments on total outstanding notes payable as of December 31, 2020 are as follows (in thousands): 2021 (a) $ 57,140 2022 105,211 2023 103,629 2024 104,231 2025 103,419 Total principal payments $ 473,630 (a) For the period from January 1, 2021 to June 30, 2021.

REDEEMABLE LIMITED PARTNERS' _2

REDEEMABLE LIMITED PARTNERS' CAPITAL (Tables)	6 Months Ended
	Dec. 31, 2020
Temporary Equity Disclosure [Abstract]
Changes in Redeemable Limited Partners' Capital	The tables below provide a summary of the changes in redeemable limited partners’ capital from June 30, 2020 to September 30, 2020 and June 30, 2019 to December 31, 2019 (in thousands). There were no changes in redeemable limited partner’s capital from September 30, 2020 to December 31, 2020. Receivables From Limited Partners Redeemable Limited Partners' Capital Total Redeemable Limited Partners' Capital June 30, 2020 $ (995) $ 1,721,304 $ 1,720,309 Distributions applied to receivables from limited partners 141 — 141 Net income attributable to non-controlling interest in Premier LP — 11,845 11,845 Distributions to limited partners — (1,936) (1,936) Exchange of Class B common units for Class A common stock by member owners — (2,437) (2,437) Adjustment of redeemable limited partners' capital to redemption amount — 26,685 26,685 Reclassification to permanent equity 854 (1,755,461) (1,754,607) September 30, 2020 $ — $ — $ — Receivables From Limited Partners Redeemable Limited Partners’ Capital Total Redeemable Limited Partners’ Capital June 30, 2019 $ (1,204) $ 2,524,474 $ 2,523,270 Distributions applied to receivables from limited partners 69 — 69 Redemption of limited partners — (1,371) (1,371) Net income attributable to non-controlling interest in Premier LP — 41,907 41,907 Distributions to limited partners — (13,699) (13,699) Exchange of Class B common units for Class A common stock by member owners — (50,792) (50,792) Adjustment of redeemable limited partners' capital to redemption amount — (694,309) (694,309) September 30, 2019 (1,135) 1,806,210 1,805,075 Distributions applied to receivables from limited partners 70 — 70 Net income attributable to non-controlling interest in Premier LP — 55,704 55,704 Distributions to limited partners — (12,689) (12,689) Exchange of Class B common units for Class A common stock by member owners — (223,946) (223,946) Adjustment of redeemable limited partners' capital to redemption amount — 480,153 480,153 December 31, 2019 $ (1,065) $ 2,105,432 $ 2,104,367
Schedule of Quarterly Exchanges	Quarterly exchanges during the six months ended December 31, 2020 were as follows (in thousands, except Class B common units): Date of Quarterly Exchange Number of Class B Common Units Exchanged Reduction in Redeemable Limited Partners' Capital July 31, 2020 69,684 $ 2,437

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Reconciliation of the Numerator and Denominator Used for Basic and Diluted Earnings (Loss) Per Share	The following table provides a reconciliation of the numerator and denominator used for basic and diluted (loss) earnings per share (in thousands, except per share amounts): Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 Numerator for basic earnings per share: Net income from continuing operations attributable to stockholders (a) $ 43,969 $ (444,002) $ 186,124 $ 279,536 Net income from discontinued operations attributable to stockholders — 334 — 527 Net income attributable to stockholders $ 43,969 $ (443,668) $ 186,124 $ 280,063 Numerator for diluted earnings per share: Net income from continuing operations attributable to stockholders (a) $ 43,969 $ (444,002) $ 186,124 $ 279,536 Adjustment of redeemable limited partners’ capital to redemption amount — — — (214,156) Net income from continuing operations attributable to non-controlling interest in Premier LP — — — 97,134 Net income from continuing operations 43,969 (444,002) 186,124 162,514 Tax effect on Premier, Inc. net income (b)(c) — — — (22,941) Adjusted net income from continuing operations $ 43,969 $ (444,002) $ 186,124 $ 139,573 Net income from discontinued operations attributable to stockholders $ — $ 334 $ — $ 527 Net income from discontinued operations attributable to non-controlling interest in Premier LP — — — 477 Adjusted net income from discontinued operations $ — $ 334 $ — $ 1,004 Adjusted net income $ 43,969 $ (443,668) $ 186,124 $ 140,577 Denominator for earnings per share: Basic weighted average shares outstanding (d) 122,127 64,552 110,851 63,668 Effect of dilutive securities: (e) Stock options 321 — 287 420 Restricted stock 333 — 318 250 Performance share awards 138 — 117 — Class B shares outstanding — — — 60,493 Diluted weighted average shares and assumed conversions 122,919 64,552 111,573 124,831 Earnings per share attributable to stockholders: Basic earnings per share attributable to stockholders $ 0.36 $ (6.87) $ 1.68 $ 4.40 Diluted earnings per share attributable to stockholders $ 0.36 $ (6.87) $ 1.67 $ 1.13 (a) Net income from continuing operations attributable to stockholders was calculated as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 Net income from continuing operations $ 44,904 $ 91,575 $ 225,589 $ 162,514 Net income from continuing operations attributable to non-controlling interest (935) (55,424) (12,780) (97,134) Adjustment of redeemable limited partners’ capital to redemption amount — (480,153) (26,685) 214,156 Net income from continuing operations attributable to stockholders $ 43,969 $ (444,002) $ 186,124 $ 279,536 (b) For the three and six months ended December 31, 2020, the tax expense related to Premier, Inc. retaining the portion of net income from continuing operations attributable to income from non-controlling interest in Premier, LP was calculated as a component of the income tax provision for the three and six months ended December 31, 2020. (c) For the three and six months ended December 31, 2019, represents income tax expense related to Premier, Inc. retaining the portion of net income from continuing operations attributable to income from non-controlling interest in Premier, LP for the purpose of diluted (loss) earnings per share. (d) Weighted average number of common shares used for basic earnings per share excludes weighted average shares of non-vested stock options, non-vested restricted stock, non-vested performance share awards and Class B shares outstanding for the three and six months ended December 31, 2020 and 2019. (e) For the three months ended December 31, 2020, the effect of 0.4 million stock options and restricted stock units were excluded from diluted weighted average shares outstanding as they had an anti-dilutive effect. For the six months ended December 31, 2020, the effect of 1.1 million stock options and restricted stock units and 11.2 million Class B common units were excluded from diluted weighted average shares outstanding as they had an anti-dilutive effect. For the three and six months ended December 31, 2020, the effect of 0.6 million performance share awards was excluded from diluted weighted average shares outstanding as the awards had not satisfied the applicable performance criteria at the end of the period. For the three months ended December 31, 2019, the effect of 57.9 million class B common units exchangeable for Class A common shares and 0.6 million stock options and restricted units was excluded from diluted weighted average shares outstanding due to the net loss from continuing operations attributable to stockholders sustained for the period and as including them would have an anti-dilutive effect for the period. For the three and six months ended December 31, 2019, the effect of 0.5 million performance share awards was excluded from diluted weighted average shares outstanding as the awards had not satisfied the applicable performance criteria at the end of the period.
Schedule of Exchange Agreement	The following table presents certain information regarding the exchange of Class B common units and associated Class B common stock for Premier's Class A common stock and/or cash in connection with the quarterly exchange pursuant to the terms of the Exchange Agreement, including activity related to the Class A and Class B common units and Class A and Class B common stock through the date of the applicable quarterly exchange: Quarterly Exchange by Member Owners Class B Common Shares Retired Upon Exchange (a) Class B Common Shares Outstanding After Exchange (a) Class A Common Shares Outstanding After Exchange (b) Percentage of Combined Voting Power Class B/Class A Common Stock July 31, 2020 69,684 50,143,414 71,724,149 41%/59% (a) The number of Class B common shares retired or outstanding is equivalent to the number of Class B common units retired upon exchange or outstanding after the exchange, as applicable. (b) The number of Class A common shares outstanding after exchange also includes activity related to the Company's share repurchase program equity incentive plan (see Note 13 - Stock-Based Compensation).

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense and Resulting Tax Benefits	Stock-based compensation expense and the resulting deferred tax benefits were as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 Pre-tax stock-based compensation expense $ 7,316 $ 7,775 $ 14,545 $ 11,479 Deferred tax benefit (a) 1,011 1,959 2,120 2,893 Total stock-based compensation expense, net of tax $ 6,305 $ 5,816 $ 12,425 $ 8,586 (a) For the three and six months ended December 31, 2020, the deferred tax benefit was reduced by $0.9 million and 1.7 million, respectively, attributable to stock-based compensation expense that is nondeductible for tax purposes pursuant to Section 162(m) as amended by the Tax Cuts and Jobs Act of 2017.
Schedule of Information Related to Restricted Stock	The following table includes information related to restricted stock, performance share awards and stock options for the six months ended December 31, 2020: Restricted Stock Performance Share Awards Stock Options Number of Awards Weighted Average Fair Value at Grant Date Number of Awards Weighted Average Fair Value at Grant Date Number of Options Weighted Average Exercise Price Outstanding at June 30, 2020 681,538 $ 37.91 1,606,309 $ 37.58 2,544,137 $ 30.17 Granted 511,609 $ 31.84 685,238 $ 29.17 — $ — Vested/exercised (196,178) $ 34.36 (161,544) $ 32.77 (84,427) $ 31.48 Forfeited (45,864) $ 36.67 (381,177) $ 33.65 (28,869) $ 35.09 Outstanding at December 31, 2020 951,105 $ 35.43 1,748,826 $ 35.57 2,430,841 $ 30.06 Stock options outstanding and exercisable at December 31, 2020 2,428,417 $ 30.06
Schedule of Information Related to Performance Share Awards	The following table includes information related to restricted stock, performance share awards and stock options for the six months ended December 31, 2020: Restricted Stock Performance Share Awards Stock Options Number of Awards Weighted Average Fair Value at Grant Date Number of Awards Weighted Average Fair Value at Grant Date Number of Options Weighted Average Exercise Price Outstanding at June 30, 2020 681,538 $ 37.91 1,606,309 $ 37.58 2,544,137 $ 30.17 Granted 511,609 $ 31.84 685,238 $ 29.17 — $ — Vested/exercised (196,178) $ 34.36 (161,544) $ 32.77 (84,427) $ 31.48 Forfeited (45,864) $ 36.67 (381,177) $ 33.65 (28,869) $ 35.09 Outstanding at December 31, 2020 951,105 $ 35.43 1,748,826 $ 35.57 2,430,841 $ 30.06 Stock options outstanding and exercisable at December 31, 2020 2,428,417 $ 30.06
Schedule of Information Related to Stock Options	The following table includes information related to restricted stock, performance share awards and stock options for the six months ended December 31, 2020: Restricted Stock Performance Share Awards Stock Options Number of Awards Weighted Average Fair Value at Grant Date Number of Awards Weighted Average Fair Value at Grant Date Number of Options Weighted Average Exercise Price Outstanding at June 30, 2020 681,538 $ 37.91 1,606,309 $ 37.58 2,544,137 $ 30.17 Granted 511,609 $ 31.84 685,238 $ 29.17 — $ — Vested/exercised (196,178) $ 34.36 (161,544) $ 32.77 (84,427) $ 31.48 Forfeited (45,864) $ 36.67 (381,177) $ 33.65 (28,869) $ 35.09 Outstanding at December 31, 2020 951,105 $ 35.43 1,748,826 $ 35.57 2,430,841 $ 30.06 Stock options outstanding and exercisable at December 31, 2020 2,428,417 $ 30.06
Schedule of Unrecognized Stock-Based Compensation Expense	Unrecognized stock-based compensation expense at December 31, 2020 was as follows (in thousands): Unrecognized Stock-Based Compensation Expense Weighted Average Amortization Period Restricted stock $ 21,413 2.1 years Performance share awards 32,709 1.9 years Stock options 4 0.2 years Total unrecognized stock-based compensation expense $ 54,126 2.0 years
Schedule of Aggregate Intrinsic Value of Stock Options	The aggregate intrinsic value of stock options at December 31, 2020 was as follows (in thousands): Intrinsic Value of Stock Options Outstanding and exercisable $ 12,484 Expected to vest 7 Total outstanding $ 12,491 Exercised during the year ended December 31, 2020 302

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum lease payments under noncancelable operating leases with initial lease terms in excess of one year were as follows (in thousands): December 31, 2020 June 30, 2020 2021 (a) $ 5,960 $ 12,171 2022 11,738 11,738 2023 12,012 12,012 2024 12,145 12,145 2025 12,177 12,177 Thereafter 10,171 10,171 Total future minimum lease payments 64,203 70,414 Less: imputed interest 6,375 7,567 Total operating lease liabilities (b) $ 57,828 $ 62,847 (a) As of December 31, 2020, future minimum lease payments are for the period from January 1, 2021 to June 30, 2021. (b) As of December 31, 2020, total operating lease liabilities included $9.7 million within other liabilities, current in the Condensed Consolidated Balance Sheets.

SEGMENTS (Tables)

SEGMENTS (Tables)	6 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of Segment Information	The following table presents disaggregated revenue by business segment and underlying source (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 Net revenue: Supply Chain Services Net administrative fees $ 145,339 $ 172,114 $ 277,984 $ 344,517 Other services and support 4,086 2,482 9,677 5,043 Services 149,425 174,596 287,661 349,560 Products 179,670 58,040 295,085 106,161 Total Supply Chain Services (a) 329,095 232,636 582,746 455,721 Performance Services (a) 93,732 86,970 186,968 166,295 Net revenue $ 422,827 $ 319,606 $ 769,714 $ 622,016 (a) Includes intersegment revenue that is eliminated in consolidation. Intersegment revenue is not separately identified in Segments as the amounts are not material. Additional segment information related to depreciation and amortization expense, capital expenditures and total assets was as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 Depreciation and amortization expense (a) : Supply Chain Services $ 9,417 $ 4,869 $ 18,219 $ 9,694 Performance Services 17,810 30,293 37,567 60,913 Corporate 2,126 2,154 4,245 4,288 Total depreciation and amortization expense $ 29,353 $ 37,316 $ 60,031 $ 74,895 Capital expenditures: Supply Chain Services $ 2,699 $ 609 $ 5,575 $ 2,086 Performance Services 16,912 18,612 35,283 37,116 Corporate 271 3,564 4,006 5,566 Total capital expenditures $ 19,882 $ 22,785 $ 44,864 $ 44,768 December 31, 2020 June 30, 2020 Total assets: Supply Chain Services $ 1,612,334 $ 1,483,751 Performance Services 948,760 930,968 Corporate 949,709 538,248 Total assets 3,510,803 2,952,967 Eliminations (b) (4) (4,452) Total assets, net $ 3,510,799 $ 2,948,515 (a) Includes amortization of purchased intangible assets.
Reconciliation of Income Before Income Taxes to Segment Adjusted EBITDA	A reconciliation of income before income taxes to Segment Adjusted EBITDA is as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2020 2019 2020 2019 Income before income taxes $ 61,561 $ 156,132 $ 124,108 $ 236,685 Equity in net income of unconsolidated affiliates (a) (4,572) (2,989) (10,499) (6,596) Interest and investment loss (income), net 3,398 359 5,517 (117) Loss on FFF put and call rights (b) 14,507 (30,222) 16,426 (22,383) Other income (4,890) (2,747) (8,573) (3,009) Operating income 70,004 120,533 126,979 204,580 Depreciation and amortization 19,093 25,378 36,567 49,913 Amortization of purchased intangible assets 10,260 11,938 23,464 24,982 Stock-based compensation (c) 7,415 7,838 14,790 11,690 Acquisition and disposition related expenses 7,918 2,835 10,763 8,976 Remeasurement of tax receivable agreement liabilities (d) — (28,356) — (23,682) Equity in net income of unconsolidated affiliates (a) 4,572 2,989 10,499 6,596 Deferred compensation plan income (e) 4,803 2,751 7,710 2,992 Other expense, net 753 2,499 4,789 2,614 Non-GAAP Adjusted EBITDA $ 124,818 $ 148,405 $ 235,561 $ 288,661 Segment Non-GAAP Adjusted EBITDA: Supply Chain Services (f) $ 118,939 $ 147,959 $ 221,590 $ 297,870 Performance Services (f) 36,609 29,967 73,724 50,343 Corporate (30,730) (29,521) (59,753) (59,552) Non-GAAP Adjusted EBITDA $ 124,818 $ 148,405 $ 235,561 $ 288,661 (a) Refer to Note 5 - Investments for more information. (b) Refer to Note 6 - Fair Value Measurements for more information. (c) Includes non-cash employee stock-based compensation expense and stock purchase plan expense of $0.1 million during both of the three months ended December 31, 2020 and 2019 and $0.2 million during both of the six months ended December 31, 2020 and 2019. (d) The adjustments to TRA liabilities for the three and six months ended December 31, 2020 is primarily attributable to decreases in the Premier, Inc. effective tax rate related to state tax liabilities. (e) Represents realized and unrealized gains and losses and dividend income on deferred compensation plan assets. (f) Includes intersegment revenue which is eliminated in consolidation.

ORGANIZATION AND BASIS OF PRE_3

ORGANIZATION AND BASIS OF PRESENTATION - Organization (Narrative) (Details)	6 Months Ended
	Dec. 31, 2020segmentbenchmarkCategory
Segment Reporting Information [Line Items]
Number of business segments | segment	2
Performance services segment
Segment Reporting Information [Line Items]
Number of main categories | benchmarkCategory	3

ORGANIZATION AND BASIS OF PRE_4

ORGANIZATION AND BASIS OF PRESENTATION - Company Structure and Restructuring (Details) $ in Thousands	Jul. 31, 2020USD ($)director	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2020	Aug. 11, 2020
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
General partner interest (as a percent)			100.00%		59.00%
Number of directors that resigned	3
Number of directors on board	15
Reclassification of redeemable limited partners' capital to permanent equity | $	$ 1,800,000	$ 1,754,607	$ 1,754,607	$ 0
Premier LP
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Limited partners ownership interest (as a percent)			0.00%		41.00%
Independent director
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of directors on board	8
Member-director
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Number of directors on board	6
BridgeCo, LLC (BridgeCo) | Class A Common Stock
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Unit of partnership, conversion ratio						1

ORGANIZATION AND BASIS OF PRE_5

ORGANIZATION AND BASIS OF PRESENTATION - Basis of Presentation (Narrative) (Details)	6 Months Ended	12 Months Ended
	Dec. 31, 2020	Jun. 30, 2020
Noncontrolling Interest [Line Items]
General partner interest (as a percent)	100.00%	59.00%
Premier LP
Noncontrolling Interest [Line Items]
Limited partners ownership interest (as a percent)	0.00%	41.00%

ORGANIZATION AND BASIS OF PRE_6

ORGANIZATION AND BASIS OF PRESENTATION - Supplementary Cash Flow Information (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Increase (decrease) in redeemable limited partners' capital for adjustment to fair value, with offsetting decrease (increase) in stockholders' equity			$ 26,685	$ (214,156)
Decrease in redeemable limited partners' capital, with offsetting increase in stockholders' equity related to quarterly exchanges by member owners			(2,437)	(274,738)
Net increase in deferred tax assets related to departures and quarterly exchanges by member owners and other adjustments			331	49,631
Net increase in deferred tax assets related to final exchange by member owners			284,852	0
Reclassification of redeemable limited partners' capital to additional paid in capital	$ 1,800,000	$ 1,754,607	1,754,607	0
Decrease in additional paid-in capital related to notes payable to members, net of discounts		438,967	438,967	0
Increase in additional paid-in capital related to departures and quarterly exchanges by member owners and other adjustments			37,319	13,375
Increase in additional paid-in capital related to final exchange by member owners		$ 517,526	517,526	0
Accrued dividend equivalents			$ 363	$ 0

ORGANIZATION AND BASIS OF PRE_7

ORGANIZATION AND BASIS OF PRESENTATION - Schedule of Assets and Liabilities of Premier LP (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Assets
Current	$ 786,338	$ 618,362
Total assets	3,510,799	2,948,515
Liabilities
Current	704,872	496,074
Total liabilities	$ 1,338,383	1,088,943
Premier LP
Assets
Current		610,990
Noncurrent		1,900,137
Total assets		2,511,127
Liabilities
Current		580,430
Noncurrent		296,801
Total liabilities		$ 877,231

ORGANIZATION AND BASIS OF PRE_8

ORGANIZATION AND BASIS OF PRESENTATION - Schedule of Net Income Attributable to Premier LP (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Premier LP net income	$ 44,904	$ 180,685	$ 92,189	$ 71,329	$ 225,589	$ 163,518
Premier LP
Variable Interest Entity [Line Items]
Premier LP net income			$ 122,105			$ 206,245

ORGANIZATION AND BASIS OF PRE_9

ORGANIZATION AND BASIS OF PRESENTATION - Schedule of Premier LP's Cash Flows (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Net cash provided by (used in):
Operating activities	$ 116,177	$ 227,049
Investing activities	(46,883)	(85,777)
Financing activities	(59,585)	(170,757)
Net increase (decrease) in cash and cash equivalents	$ 9,709	(29,485)
Premier LP
Net cash provided by (used in):
Operating activities		220,864
Investing activities		(85,777)
Financing activities		(160,872)
Net increase (decrease) in cash and cash equivalents		(25,785)
Cash and cash equivalents at beginning of year		131,210
Cash and cash equivalents at end of period		$ 105,425

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Negative adjustment to retained earnings	$ (2,172,416)	$ (2,134,581)	$ (139,263)	$ 432,880	$ 114,856	$ 862,250
Retained Earnings / (Accumulated Deficit)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Negative adjustment to retained earnings	$ (141,590)	$ (121,313)	0	$ 409,831	$ 39,894	775,674
Impact of change in accounting principle
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Negative adjustment to retained earnings			1,228			899
Impact of change in accounting principle | Retained Earnings / (Accumulated Deficit)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Negative adjustment to retained earnings			$ 1,228			$ 899

BUSINESS ACQUISITIONS (Details)

BUSINESS ACQUISITIONS (Details) $ in Millions	May 04, 2020USD ($)	Feb. 28, 2020USD ($)installment	Oct. 28, 2019USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Jun. 30, 2020USD ($)	Feb. 27, 2020USD ($)
Health Design Plus, LLC
Business Acquisition [Line Items]
Interest acquired (percent)	97.00%
Adjusted purchase price	$ 23.8
Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”)
Business Acquisition [Line Items]
Aggregate amount to be paid		$ 291.5
Payment made at closing		166.1		$ 4.7
Total of additional amount payable in annual installments		$ 120
Number of equal annual installments | installment		4
Annual installment amount		$ 30
Earn-out liabilities		30			$ 22.7	$ 22.7
Fair value of consideration paid		$ 202.6
MedPricer
Business Acquisition [Line Items]
Adjusted purchase price			$ 38.5
Earn-out liabilities					$ 4.7
Earn-out opportunity (up to)			$ 5
Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”)
Business Acquisition [Line Items]
One-time rebates							$ 93.8

DISCONTINUED OPERATIONS AND E_3

DISCONTINUED OPERATIONS AND EXIT ACTIVITIES - Schedule of Major Components of Net Income (Loss) From Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations, net of tax	$ 0	$ 614	$ 0	$ 1,004
Net income from discontinued operations attributable to non-controlling interest	0	(280)	0	(477)
Net income from discontinued operations attributable to stockholders	$ 0	334	$ 0	527
Specialty Pharmacy Business | Discontinued Operation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Selling, general and administrative expense		(79)		1,857
Operating expenses		(79)		1,857
Operating gain (loss) from discontinued operations		79		(1,857)
Net gain on disposal of assets		822		3,231
Income from discontinued operations before income taxes		901		1,374
Income tax expense		287		370
Income from discontinued operations, net of tax		614		1,004
Net income from discontinued operations attributable to non-controlling interest		(280)		(477)
Net income from discontinued operations attributable to stockholders		$ 334		$ 527

INVESTMENTS - Schedule of Inves

INVESTMENTS - Schedule of Investments in Unconsolidated Affiliates (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 148,245		$ 148,245		$ 133,335
Equity in Net Income	4,572	$ 2,989	10,499	$ 6,596
FFF
Schedule of Equity Method Investments [Line Items]
Carrying Value	116,785		116,785		109,204
Equity in Net Income	3,007	2,885	7,581	6,490
Prestige
Schedule of Equity Method Investments [Line Items]
Carrying Value	13,840		13,840		11,194
Equity in Net Income	1,594	0	2,646	0
Other investments
Schedule of Equity Method Investments [Line Items]
Carrying Value	17,620		17,620		$ 12,937
Equity in Net Income	$ (29)	$ 104	$ 272	$ 106

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details)	Dec. 31, 2020healthSystem
FFF
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)	49.00%
Prestige
Schedule of Equity Method Investments [Line Items]
Number of health systems with ownership interest	16
PRAM Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)	26.00%
PSCI | FFF
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)	49.00%
PRAM Holdings, LLC | Prestige
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)	20.00%

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Liabilities (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Assets
Cash equivalents	$ 75	$ 13,272
Deferred compensation plan assets	59,228	52,538
Total assets	59,303	65,810
Liabilities
Earn-out liabilities	22,700	33,151
FFF put right	53,184	36,758
Total liabilities	75,884	69,909
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Cash equivalents	75	13,272
Deferred compensation plan assets	59,228	52,538
Total assets	59,303	65,810
Liabilities
Earn-out liabilities	0	0
FFF put right	0	0
Total liabilities	0	0
Significant Other Observable Inputs (Level 2)
Assets
Cash equivalents	0	0
Deferred compensation plan assets	0	0
Total assets	0	0
Liabilities
Earn-out liabilities	0	0
FFF put right	0	0
Total liabilities	0	0
Significant Unobservable Inputs (Level 3)
Assets
Cash equivalents	0	0
Deferred compensation plan assets	0	0
Total assets	0	0
Liabilities
Earn-out liabilities	22,700	33,151
FFF put right	53,184	36,758
Total liabilities	$ 75,884	$ 69,909

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($)	6 Months Ended
	Dec. 31, 2020	Aug. 11, 2020	Jun. 30, 2020	Feb. 28, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assumed market interest rate (percent)	1.60%		1.60%
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Imputed interest (percent)		1.80%
Notes payable, difference between fair value and carrying value	$ 200,000		$ 200,000
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FFF call right	0		0
Earn-out liabilities	22,700,000		33,151,000
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of deferred compensation plan assets	4,200,000		3,400,000
Earn-out liabilities	0		0
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liabilities	$ 0		0
FFF call right
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Call right, exercisable term, key event	180 days
Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liabilities	$ 22,700,000		$ 22,700,000	$ 30,000,000

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value Measurement Input Assumptions (Details)	Dec. 31, 2020USD ($)	Jun. 30, 2020USD ($)	Feb. 28, 2020USD ($)
Valuation Technique, Equity Value per Share Calculation | Annual EBITDA growth rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FFF Put Rights input assumptions	6 years	6 years
Valuation Technique, Equity Value per Share Calculation | Annual revenue growth rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
FFF Put Rights input assumptions	6 years	6 years
Valuation Technique, Equity Value per Share Calculation | Correlation
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions for FFF Put Rights (percent)	0.800	0.800
Valuation Technique, Equity Value per Share Calculation | Weighted average cost of capital
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions for FFF Put Rights (percent)	0.140	0.145
Valuation Technique, Equity Value per Share Calculation | Asset volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions for FFF Put Rights (percent)	0.300	0.280
Valuation Technique, Equity Value per Share Calculation | Credit spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions for FFF Put Rights (percent)	0.010	0.017
Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liabilities	$ 22,700,000	$ 22,700,000	$ 30,000,000
Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”) | Valuation Technique, Estimated Future Earnings | Credit spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out input assumptions (percent)	0.010	0.010
Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”) | Valuation Technique, Estimated Future Earnings | Probability of transferred member renewal percentage less than 50%
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out input assumptions (percent)	0.050	0.050
Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”) | Valuation Technique, Estimated Future Earnings | Probability of transferred member renewal percentage between 50% and 65%
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out input assumptions (percent)	0.100	0.100
Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”) | Valuation Technique, Estimated Future Earnings | Probability of transferred member renewal percentage between 65% and 80%
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out input assumptions (percent)	0.250	0.250
Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”) | Valuation Technique, Estimated Future Earnings | Probability of transferred member renewal percentage > 80%
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out input assumptions (percent)	0.600	0.600
Minimum | Valuation Technique, Equity Value per Share Calculation | Annual EBITDA growth rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions for FFF Put Rights (percent)	0.025	0.025
Minimum | Valuation Technique, Equity Value per Share Calculation | Annual revenue growth rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions for FFF Put Rights (percent)	0.025	0.014
Minimum | Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liabilities	$ 0	$ 0
Maximum | Valuation Technique, Equity Value per Share Calculation | Annual EBITDA growth rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions for FFF Put Rights (percent)	0.108	0.265
Maximum | Valuation Technique, Equity Value per Share Calculation | Annual revenue growth rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions for FFF Put Rights (percent)	0.063	0.144
Maximum | Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out liabilities	$ 30,000,000	$ 30,000,000

FAIR VALUE MEASUREMENTS - Recon

FAIR VALUE MEASUREMENTS - Reconciliation of Earn-Out Liabilities and FFF Put and Call Rights (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance		$ 52		$ 204
Purchases (Settlements)		0		0
Gain (Loss)		(52)		(204)
Ending Balance		0		0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 61,694	58,729	$ 69,909	48,468
Purchases (Settlements)	(4,660)	3,781	(13,733)	3,781
Gain (Loss)	(18,850)	30,025	(19,708)	19,764
Ending Balance	75,884	32,485	75,884	32,485
Earn-out liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	23,017	9,390	33,151	6,816
Purchases (Settlements)	(4,660)	3,781	(13,733)	3,781
Gain (Loss)	(4,343)	(249)	(3,282)	(2,823)
Ending Balance	22,700	13,420	22,700	13,420
FFF put right
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	38,677	49,339	36,758	41,652
Purchases (Settlements)	0	0	0	0
Gain (Loss)	(14,507)	30,274	(16,426)	22,587
Ending Balance	$ 53,184	19,065	$ 53,184	19,065
FFF call right
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance		52		204
Purchases (Settlements)		0		0
Gain (Loss)		(52)		(204)
Ending Balance		$ 0		$ 0

CONTRACT BALANCES - Contract As

CONTRACT BALANCES - Contract Assets, Deferred Revenue and Capitalized Contract Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue recognized		$ (1.9)	$ 14.8	$ (0.7)
Revenue recognized from performance obligations satisfied in previous periods	$ 3.1		(3.2)
License and Service
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue recognized associated with revised forecasts underlying contracts with variable consideration components	(1.8)	(3)	(0.7)	(4.5)
Net administrative fees
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue recognized associated with a change in net administration fee revenue	$ 4.9	$ 1.1	$ (2.5)	$ 3.8

CONTRACT BALANCES - Remaining P

CONTRACT BALANCES - Remaining Performance Obligation (Details) $ in Millions	Dec. 31, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Transaction price allocated to remaining performance obligation	$ 600
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation to be satisfied (percent)	44.00%
Remaining performance obligation satisfaction period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation to be satisfied (percent)	27.00%
Remaining performance obligation satisfaction period	12 months

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2020USD ($)
Goodwill [Roll Forward]
Goodwill beginning balance	$ 941,965
Adjustments to acquisition purchase price	298
Goodwill ending balance	942,263
Supply Chain Services
Goodwill [Roll Forward]
Goodwill beginning balance	387,722
Adjustments to acquisition purchase price	780
Goodwill ending balance	388,502
Performance Services
Goodwill [Roll Forward]
Goodwill beginning balance	554,243
Adjustments to acquisition purchase price	(482)
Goodwill ending balance	$ 553,761

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 664,204		$ 664,204		$ 662,582
Accumulated amortization	(268,623)		(268,623)		(245,160)
Total intangible assets, net	395,581		395,581		417,422
Intangible asset amortization	10,260	$ 11,938	$ 23,464	$ 24,982
Member relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life			14 years 8 months 12 days
Total intangible assets	386,100		$ 386,100		386,100
Technology
Finite-Lived Intangible Assets [Line Items]
Useful Life			5 years 7 months 6 days
Total intangible assets	164,117		$ 164,117		164,117
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life			9 years 7 months 6 days
Total intangible assets	70,830		$ 70,830		70,830
Trade names
Finite-Lived Intangible Assets [Line Items]
Useful Life			7 years 6 months
Total intangible assets	24,160		$ 24,160		24,160
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Useful Life			5 years 3 months 18 days
Total intangible assets	11,315		$ 11,315		11,315
Other
Finite-Lived Intangible Assets [Line Items]
Useful Life			10 years 2 months 12 days
Total intangible assets	$ 7,682		$ 7,682		$ 6,060

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) $ in Millions	Dec. 31, 2020USD ($)
Other
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible asset	$ 1

DEBT AND NOTES PAYABLE - Schedu

DEBT AND NOTES PAYABLE - Schedule of Long-Term Debt and Notes Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Debt Instrument [Line Items]
Total debt and notes payable	$ 553,817	$ 84,200
Less: current portion	(200,867)	(79,560)
Total long-term debt and notes payable	352,950	4,640
Credit Facility
Debt Instrument [Line Items]
Total debt and notes payable	100,000	75,000
Notes payable to members | Notes payable
Debt Instrument [Line Items]
Total debt and notes payable	442,270	0
Other notes payable | Notes payable
Debt Instrument [Line Items]
Total debt and notes payable	$ 11,547	$ 9,200

DEBT AND NOTES PAYABLE - Credit

DEBT AND NOTES PAYABLE - Credit Facility (Narrative) (Details)	Nov. 09, 2018USD ($)extension	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2020USD ($)
Line of Credit Facility [Line Items]
Proceeds from credit facility		$ 125,000,000	$ 125,000,000
Payments on credit facility		100,000,000	$ 100,000,000
Outstanding borrowings		$ 553,817,000		$ 84,200,000
Credit Facility
Line of Credit Facility [Line Items]
Number of available extensions | extension	2
Duration of each available extension	1 year
Maximum borrowing capacity	$ 1,000,000,000
Additional borrowing capacity	350,000,000
Interest rate (percent)		1.15%
Indebtedness or guarantee threshold	$ 75,000,000
Proceeds from credit facility		$ 125,000,000
Payments on credit facility		100,000,000
Outstanding borrowings		100,000,000
Available borrowing capacity		$ 899,900,000
Credit Facility | LIBOR | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Credit Facility | LIBOR | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
Credit Facility | Prime rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.00%
Credit Facility | Prime rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Letters of credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 50,000,000
Swing-line loans
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 100,000,000

DEBT AND NOTES PAYABLE - Notes

DEBT AND NOTES PAYABLE - Notes Payable (Narrative) (Details) $ in Millions	Aug. 10, 2020dayloanInstallment	Dec. 31, 2020USD ($)	Aug. 11, 2020	Jun. 30, 2020USD ($)
Notes payable | Minimum
Debt Instrument [Line Items]
Notes payable, stated maturity period		3 years
Notes payable | Maximum
Debt Instrument [Line Items]
Notes payable, stated maturity period		5 years
Tax Receivable Agreement | BridgeCo, LLC (BridgeCo)
Debt Instrument [Line Items]
Number of applicable trading days | day	20
Notes payable to members | Notes payable
Debt Instrument [Line Items]
Number of quarterly installments | loanInstallment	18
Notes payable		$ 442.3
Imputed interest		(19.8)
Other notes payable | Notes payable
Debt Instrument [Line Items]
Notes payable		11.5		$ 9.2
Current portion of tax receivable agreements		5.8		$ 4.6
Current portion of Notes payable | Notes payable to members | Notes payable
Debt Instrument [Line Items]
Notes payable		$ 95.1
Level 2
Debt Instrument [Line Items]
Imputed interest (percent)			1.80%

DEBT AND NOTES PAYABLE - Sche_2

DEBT AND NOTES PAYABLE - Schedule of Future Minimum Principal Payments (Details) - Notes payable - Notes Payable to Members and Other Notes Payable $ in Thousands	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
2021	$ 57,140
2022	105,211
2023	103,629
2024	104,231
2025	103,419
Total principal payments	$ 473,630

REDEEMABLE LIMITED PARTNERS' _3

REDEEMABLE LIMITED PARTNERS' CAPITAL - Narrative (Details) $ in Thousands	Jul. 31, 2020USD ($)directorshares	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)shares	Dec. 31, 2019USD ($)shares	Sep. 30, 2019USD ($)shares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Temporary Equity [Line Items]
Number of directors that resigned | director	3
Number of directors on board | director	15
Reclassification of redeemable limited partners' capital to permanent equity | $	$ 1,800,000		$ 1,754,607			$ 1,754,607	$ 0
Adjustment of redeemable limited partners' capital to redemption amount | $		$ 0		$ (480,153)		$ (26,685)	$ 214,156
Exchange of Class B common units for Class A common stock by member owners | $			$ 2,437	$ 223,946	$ 50,792
Exchange of Class B common units for Class A common stock by member owners (in shares) | shares	69,684
Class B Common Stock | Common Stock
Temporary Equity [Line Items]
Exchange of Class B common units for Class A common stock by member owners (in shares) | shares	69,684		(70,000)	(6,873,000)	(1,311,000)
Independent director
Temporary Equity [Line Items]
Number of directors on board | director	8
Member-director
Temporary Equity [Line Items]
Number of directors on board | director	6
Limited Partner
Temporary Equity [Line Items]
Cumulative right to exchange initial allocation of common units		0.14285714				0.14285714
Exchange of Class B common units for Class A common stock by member owners | $			$ 2,437	$ 223,946	$ 50,792	$ 2,400

REDEEMABLE LIMITED PARTNERS' _4

REDEEMABLE LIMITED PARTNERS' CAPITAL - Changes in Redeemable Limited Partners' Capital (Details) - USD ($)	3 Months Ended				5 Months Ended	6 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2020
Increase (Decrease) in Temporary Equity
Redeemable limited partners' capital, beginning balance		$ 1,720,309,000				$ 1,720,309,000
Exchange of Class B common units for Class A common stock by member owners		(2,437,000)	$ (223,946,000)	$ (50,792,000)
Redeemable limited partners' capital, ending balance	$ 0				$ 0	0
Limited Partner
Increase (Decrease) in Temporary Equity
Redeemable limited partners' capital, beginning balance	0	1,720,309,000	1,805,075,000	2,523,270,000		1,720,309,000
Distributions applied to receivables from limited partners		141,000	70,000	69,000
Redemption of limited partners				(1,371,000)
Net income attributable to non-controlling interest in Premier LP		11,845,000	55,704,000	41,907,000
Distributions to limited partners		(1,936,000)	(12,689,000)	(13,699,000)
Exchange of Class B common units for Class A common stock by member owners		(2,437,000)	(223,946,000)	(50,792,000)		(2,400,000)
Adjustment of redeemable limited partners' capital to redemption amount	0	26,685,000	480,153,000	(694,309,000)
Reclassification to permanent equity		(1,754,607,000)
Redeemable limited partners' capital, ending balance		0	2,104,367,000	1,805,075,000
Limited Partner | Receivables From Limited Partners
Increase (Decrease) in Temporary Equity
Redeemable limited partners' capital, beginning balance	0	(995,000)	(1,135,000)	(1,204,000)		(995,000)
Distributions applied to receivables from limited partners		141,000	70,000	69,000
Reclassification to permanent equity		854,000
Redeemable limited partners' capital, ending balance		0	(1,065,000)	(1,135,000)
Limited Partner | Redeemable Limited Partners' Capital
Increase (Decrease) in Temporary Equity
Redeemable limited partners' capital, beginning balance	0	1,721,304,000	1,806,210,000	2,524,474,000		1,721,304,000
Redemption of limited partners				(1,371,000)
Net income attributable to non-controlling interest in Premier LP		11,845,000	55,704,000	41,907,000
Distributions to limited partners		(1,936,000)	(12,689,000)	(13,699,000)
Exchange of Class B common units for Class A common stock by member owners		(2,437,000)	(223,946,000)	(50,792,000)	0
Adjustment of redeemable limited partners' capital to redemption amount		26,685,000	480,153,000	(694,309,000)
Reclassification to permanent equity		(1,755,461,000)
Redeemable limited partners' capital, ending balance	$ 0	$ 0	$ 2,105,432,000	$ 1,806,210,000	$ 0	$ 0

REDEEMABLE LIMITED PARTNERS' _5

REDEEMABLE LIMITED PARTNERS' CAPITAL - Schedule Of Common Stock Units Quarterly Exchanges (Details) - USD ($) $ in Thousands	Jul. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Limited Partners' Capital Account [Line Items]
Class B common units and associated Class B common shares exchanged (in shares)	69,684
Reduction in Redeemable Limited Partners’ Capital	$ 2,437
Common Stock | Class B Common Stock
Limited Partners' Capital Account [Line Items]
Class B common units and associated Class B common shares exchanged (in shares)	69,684	(70,000)	(6,873,000)	(1,311,000)

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) $ / shares in Units, $ in Thousands	Jan. 21, 2021$ / shares	Dec. 15, 2020$ / shares	Sep. 15, 2020$ / shares	Aug. 11, 2020shares	Jul. 31, 2020USD ($)	Dec. 31, 2020$ / sharesshares	Sep. 30, 2020USD ($)$ / shares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)	Jun. 30, 2020$ / sharesshares
Class of Stock [Line Items]
Reclassification of redeemable limited partners' capital to permanent equity | $					$ 1,800,000		$ 1,754,607	$ 1,754,607	$ 0
Per share amount of dividends (in usd per share)						$ 0.19	$ 0.19
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares outstanding (in shares) | shares						122,228,635		122,228,635		71,627,462
Common stock, par value (in dollars per share)						$ 0.01		$ 0.01		$ 0.01
Voting rights, ratio of votes to shares held								1
Per share amount of dividends (in usd per share)		$ 0.19	$ 0.19
Common stock, shares issued (in shares) | shares						122,228,635		122,228,635		71,627,462
Antidilutive securities excluded from computation of earnings per share (in shares) | shares				50,143,414
Subsequent event | Class A Common Stock
Class of Stock [Line Items]
Dividends declared (in usd per share)	$ 0.19

EARNINGS PER SHARE - Reconcilia

EARNINGS PER SHARE - Reconciliation of the Numerator and Denominator Used for Basic and Diluted Earnings (Loss) Per Share (Details) $ / shares in Units, $ in Thousands	Aug. 11, 2020shares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares
Numerator for basic earnings per share:
Net income from continuing operations attributable to stockholders		$ 43,969	$ (444,002)	$ 186,124	$ 279,536
Net income from discontinued operations attributable to stockholders		0	334	0	527
Net income attributable to stockholders		43,969	(443,668)	186,124	280,063
Numerator for diluted earnings per share:
Net income from continuing operations attributable to stockholders		43,969	(444,002)	186,124	279,536
Adjustment of redeemable limited partners’ capital to redemption amount		0	0	0	(214,156)
Net income from continuing operations attributable to non-controlling interest in Premier LP		0	0	0	97,134
Net income from continuing operations		43,969	(444,002)	186,124	162,514
Tax effect on Premier, Inc. net income		0	0	0	(22,941)
Adjusted net income from continuing operations		43,969	(444,002)	186,124	139,573
Net income from discontinued operations attributable to stockholders		0	334	0	527
Net income from discontinued operations attributable to non-controlling interest in Premier LP		0	0	0	477
Adjusted net income from discontinued operations		0	334	0	1,004
Adjusted net income		$ 43,969	$ (443,668)	$ 186,124	$ 140,577
Denominator for basic earnings (loss) per share:
Basic weighted average shares (in shares) | shares		122,127,000	64,552,000	110,851,000	63,668,000
Effect of dilutive securities:
Diluted weighted average shares and assumed conversions (in shares) | shares		122,919,000	64,552,000	111,573,000	124,831,000
Earnings per share attributable to stockholders:
Basic (loss) earnings per share attributable to stockholders (in usd per share) | $ / shares		$ 0.36	$ (6.87)	$ 1.68	$ 4.40
Diluted earnings (loss) per share:
Diluted (loss) earnings per share attributable to stockholders (in usd per share) | $ / shares		$ 0.36	$ (6.87)	$ 1.67	$ 1.13
Class A Common Stock
Diluted earnings (loss) per share:
Antidilutive securities excluded from computation of earnings per share (in shares) | shares	50,143,414
Class B Common Stock
Effect of dilutive securities:
Effect of dilutive securities (in shares) | shares		0	0	0	60,493,000
Diluted earnings (loss) per share:
Antidilutive securities excluded from computation of earnings per share (in shares) | shares			57,900,000	11,200,000
Stock options
Effect of dilutive securities:
Effect of dilutive securities (in shares) | shares		321,000	0	287,000	420,000
Diluted earnings (loss) per share:
Antidilutive securities excluded from computation of earnings per share (in shares) | shares			600,000
Restricted Stock
Effect of dilutive securities:
Effect of dilutive securities (in shares) | shares		333,000	0	318,000	250,000
Performance share awards
Effect of dilutive securities:
Effect of dilutive securities (in shares) | shares		138,000	0	117,000	0
Diluted earnings (loss) per share:
Antidilutive securities excluded from computation of earnings per share (in shares) | shares		600,000	500,000	600,000	500,000
Stock options and restricted stock units
Diluted earnings (loss) per share:
Antidilutive securities excluded from computation of earnings per share (in shares) | shares		400,000		1,100,000
BridgeCo, LLC (BridgeCo) | Class A Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Unit of partnership, conversion ratio	1

EARNINGS PER SHARE - Calculatio

EARNINGS PER SHARE - Calculation of Net Income From Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net income from continuing operations	$ 44,904	$ 91,575	$ 225,589	$ 162,514
Net income from continuing operations attributable to non-controlling interest	(935)	(55,424)	(12,780)	(97,134)
Adjustment of redeemable limited partners' capital to redemption amount	0	(480,153)	(26,685)	214,156
Net income (loss) from continuing operations attributable to stockholders	$ 43,969	$ (444,002)	$ 186,124	$ 279,536

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Exchange Agreement (Details)	Jul. 31, 2020shares
Conversion of Stock [Line Items]
Class B common units and associated Class B common shares exchanged (in shares)	69,684
Class B Common Shares
Conversion of Stock [Line Items]
Shares outstanding after exchange (in shares)	50,143,414
Percentage of combined voting power (percent)	41.00%
Class A Common Shares
Conversion of Stock [Line Items]
Shares outstanding after exchange (in shares)	71,724,149
Percentage of combined voting power (percent)	59.00%

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected effective income tax rate (percent)	26.00%	25.00%
Stock-based compensation expense not deductible for tax purposes	$ 0.9		$ 1.7
2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards authorized for grant (up to) (in shares)	14.8		14.8
Number of shares available for grant (shares)	5.3		5.3
Performance share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Stock options | 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Award term			10 years
Options, expiration period			12 months
Year 1 | Stock options | 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting (percent)			33.33%
Year 2 | Stock options | 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting (percent)			33.33%
Year 3 | Stock options | 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting (percent)			33.33%
Employee | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Director | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			1 year

STOCK-BASED COMPENSATION - Sche

STOCK-BASED COMPENSATION - Schedule of Stock-based Compensation Expense and Resulting Tax Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Pre-tax stock-based compensation expense	$ 7,316	$ 7,775	$ 14,545	$ 11,479
Deferred tax benefit	1,011	1,959	2,120	2,893
Total stock-based compensation expense, net of tax	$ 6,305	$ 5,816	$ 12,425	$ 8,586

STOCK-BASED COMPENSATION - Sc_2

STOCK-BASED COMPENSATION - Schedule of Information Related to Restricted Stock, Performance Share Awards and Stock Options (Details) - 2013 Equity Incentive Plan	6 Months Ended
	Dec. 31, 2020$ / sharesshares
Restricted Stock
Number of Awards
Outstanding, beginning balance (in shares) | shares	681,538
Granted (in shares) | shares	511,609
Vested/exercised (in shares) | shares	(196,178)
Forfeited (in shares) | shares	(45,864)
Outstanding, ending balance (in shares) | shares	951,105
Weighted Average Fair Value at Grant Date
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 37.91
Granted (in dollars per share) | $ / shares	31.84
Vested/exercised (in dollars per share) | $ / shares	34.36
Forfeited (in dollars per share) | $ / shares	36.67
Outstanding, ending balance (in dollars per share) | $ / shares	$ 35.43
Performance Share Awards
Number of Awards
Outstanding, beginning balance (in shares) | shares	1,606,309
Granted (in shares) | shares	685,238
Vested/exercised (in shares) | shares	(161,544)
Forfeited (in shares) | shares	(381,177)
Outstanding, ending balance (in shares) | shares	1,748,826
Weighted Average Fair Value at Grant Date
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 37.58
Granted (in dollars per share) | $ / shares	29.17
Vested/exercised (in dollars per share) | $ / shares	32.77
Forfeited (in dollars per share) | $ / shares	33.65
Outstanding, ending balance (in dollars per share) | $ / shares	$ 35.57
Stock options
Number of Options
Outstanding, beginning balance (in shares) | shares	2,544,137
Granted (in shares) | shares	0
Vested/exercised (in shares) | shares	(84,427)
Forfeited (in shares) | shares	(28,869)
Outstanding, ending balance (in shares) | shares	2,430,841
Stock options outstanding and exercisable (in shares) | shares	2,428,417
Weighted Average Exercise Price
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 30.17
Granted (in dollars per share) | $ / shares	0
Vested/exercised (in dollars per share) | $ / shares	31.48
Forfeited (in dollars per share) | $ / shares	35.09
Outstanding, ending balance (in dollars per share) | $ / shares	30.06
Stock options outstanding and exercisable (in dollars per share) | $ / shares	$ 30.06

STOCK-BASED COMPENSATION - Sc_3

STOCK-BASED COMPENSATION - Schedule of Unrecognized Stock-Based Compensation Expense (Details) - 2013 Equity Incentive Plan $ in Thousands	6 Months Ended
	Dec. 31, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 54,126
Weighted Average Amortization Period	2 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 21,413
Weighted Average Amortization Period	2 years 1 month 6 days
Performance share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 32,709
Weighted Average Amortization Period	1 year 10 months 24 days
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 4
Weighted Average Amortization Period	2 months 12 days

STOCK-BASED COMPENSATION - Sc_4

STOCK-BASED COMPENSATION - Schedule of Aggregate Intrinsic Value of Stock Options (Details) - 2013 Equity Incentive Plan $ in Thousands	Dec. 31, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding and exercisable	$ 12,484
Expected to vest	7
Total outstanding	12,491
Exercised during the year ended December 31, 2020	$ 302

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Thousands	Aug. 11, 2020USD ($)	Aug. 10, 2020USD ($)day	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2020USD ($)
Related Party Transaction [Line Items]
One-time deferred tax benefit	$ 132,000
Income tax expense (benefit)			$ 16,657	$ 64,557	$ (101,481)	$ 74,171
Effective tax rate (percent)			27.00%	41.00%	(82.00%)	31.00%
Effective ta rate after excluding effect of one-time deferred tax benefit (percent)					24.00%
Increase in net deferred tax assets					$ 413,200
Current deferred tax assets at Premier, Inc.			$ 825,700		825,700		$ 412,500
Increase in deferred tax asset related to final exchange of outstanding Class B units					$ 285,000
TRA liabilities							$ 293,700
Tax Receivable Agreement | BridgeCo, LLC (BridgeCo)
Related Party Transaction [Line Items]
Number of applicable trading days | day		20
Number of days prior to Determination Date		3 days
Early termination payments		$ 472,600
Early termination fees payable within three business days		10,500
Early termination fee payable after three business days		$ 462,100

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Equity in net income of unconsolidated affiliates	$ 4,572	$ 2,989	$ 10,499	$ 6,596
Administrative Fee Revenue
Related Party Transaction [Line Items]
Net administrative fee revenue	$ 1,700	2,400	$ 3,500	4,600
FFF
Related Party Transaction [Line Items]
Ownership share of net income of FFF (as a percent)	49.00%		49.00%
Equity in net income of unconsolidated affiliates	$ 3,007	2,885	$ 7,581	6,490
FFF | Investee
Related Party Transaction [Line Items]
Equity in net income of unconsolidated affiliates	$ 3,000	$ 2,900	$ 7,600	$ 6,500

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Operating lease expense	$ 2,700	$ 2,600	$ 5,600	$ 5,500
Weighted average remaining lease term	5 years 3 months 18 days		5 years 3 months 18 days
Weighted average discount rate (percent)	4.00%		4.00%
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021	$ 5,960		$ 5,960
Year 1	11,738		11,738		$ 12,171
Year 2	12,012		12,012		11,738
Year 3	12,145		12,145		12,012
Year 4	12,177		12,177		12,145
Year 5					12,177
Thereafter	10,171		10,171
Thereafter					10,171
Total future minimum lease payments	64,203		64,203		70,414
Less: imputed interest	6,375		6,375		7,567
Total operating lease liabilities	57,828		57,828		$ 62,847
Operating lease liability included in other liabilities, current	$ 9,700		$ 9,700
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent		us-gaap:OtherLiabilitiesCurrent

SEGMENTS - Narrative (Details)

SEGMENTS - Narrative (Details)	6 Months Ended
	Dec. 31, 2020segment
Segment Reporting [Abstract]
Number of reportable business segments	2
Threshold to classify expenses as non-recurring (period)	2 years
Threshold to classify expenses as non-recurring, not expected to occur within (period)	2 years

SEGMENTS - Schedule of Segment

SEGMENTS - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Segment Reporting Information [Line Items]
Net revenue	$ 422,827	$ 319,606	$ 769,714	$ 622,016
Depreciation and amortization expense	29,353	37,316	60,031	74,895
Total capital expenditures	19,882	22,785	44,864	44,768
Total assets	3,510,799		3,510,799		$ 2,948,515
Corporate
Segment Reporting Information [Line Items]
Depreciation and amortization expense	2,126	2,154	4,245	4,288
Total capital expenditures	271	3,564	4,006	5,566
Total assets	949,709		949,709		538,248
Eliminations
Segment Reporting Information [Line Items]
Total assets	(4)		(4)		(4,452)
Supply Chain Services
Segment Reporting Information [Line Items]
Net revenue	329,095	232,636	582,746	455,721
Supply Chain Services | Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization expense	9,417	4,869	18,219	9,694
Total capital expenditures	2,699	609	5,575	2,086
Total assets	1,612,334		1,612,334		1,483,751
Performance Services
Segment Reporting Information [Line Items]
Net revenue	93,732	86,970	186,968	166,295
Performance Services | Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization expense	17,810	30,293	37,567	60,913
Total capital expenditures	16,912	18,612	35,283	37,116
Total assets	948,760		948,760		930,968
Operating Segments and Corporate Non-Segment
Segment Reporting Information [Line Items]
Total assets	3,510,803		3,510,803		$ 2,952,967
Net administrative fees
Segment Reporting Information [Line Items]
Net revenue	145,339	172,114	277,984	344,517
Net administrative fees | Supply Chain Services
Segment Reporting Information [Line Items]
Net revenue	145,339	172,114	277,984	344,517
Other services and support
Segment Reporting Information [Line Items]
Net revenue	97,818	89,452	196,645	171,338
Other services and support | Supply Chain Services
Segment Reporting Information [Line Items]
Net revenue	4,086	2,482	9,677	5,043
Services
Segment Reporting Information [Line Items]
Net revenue	243,157	261,566	474,629	515,855
Services | Supply Chain Services
Segment Reporting Information [Line Items]
Net revenue	149,425	174,596	287,661	349,560
Products
Segment Reporting Information [Line Items]
Net revenue	179,670	58,040	295,085	106,161
Products | Supply Chain Services
Segment Reporting Information [Line Items]
Net revenue	$ 179,670	$ 58,040	$ 295,085	$ 106,161

SEGMENTS - Reconciliation of In

SEGMENTS - Reconciliation of Income Before Income Taxes to Segment Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Income before income taxes	$ 61,561	$ 156,132	$ 124,108	$ 236,685
Equity in net income of unconsolidated affiliates	(4,572)	(2,989)	(10,499)	(6,596)
Interest and investment loss (income), net	3,398	359	5,517	(117)
Loss (gain) on FFF put and call rights	14,507	(30,222)	16,426	(22,383)
Other income	(4,890)	(2,747)	(8,573)	(3,009)
Operating income	70,004	120,533	126,979	204,580
Depreciation and amortization	19,093	25,378	36,567	49,913
Amortization of purchased intangible assets	10,260	11,938	23,464	24,982
Stock-based compensation	7,415	7,838	14,790	11,690
Acquisition and disposition related expenses	7,918	2,835	10,763	8,976
Remeasurement of tax receivable agreement liabilities	0	(28,356)	0	(23,682)
Equity in net income of unconsolidated affiliates	4,572	2,989	10,499	6,596
Deferred compensation plan (expense) income	4,803	2,751	7,710	2,992
Other expense, net	753	2,499	4,789	2,614
Non-GAAP Adjusted EBITDA	124,818	148,405	235,561	288,661
Employee Stock Purchase Plan (ESPP)
Segment Reporting Information [Line Items]
Stock-based compensation	100	100	200	200
Operating Segments | Supply Chain Services
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	118,939	147,959	221,590	297,870
Operating Segments | Performance Services
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	36,609	29,967	73,724	50,343
Corporate
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	$ (30,730)	$ (29,521)	$ (59,753)	$ (59,552)