Premier (PINC) 10-Q 1 Feb 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Dec. 31, 2021	Jan. 27, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2021
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		119,082,893
Entity Central Index Key	0001577916
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021
Assets
Cash and cash equivalents	$ 86,161	$ 129,141
Accounts receivable (net of $1,312 and $1,174 allowance for credit losses, respectively)	137,902	142,557
Contract assets (net of $1,248 and $1,110 allowance for credit losses, respectively)	289,136	266,173
Inventory	148,415	176,376
Prepaid expenses and other current assets	66,499	68,049
Total current assets	728,113	782,296
Property and equipment (net of $559,269 and $518,332 accumulated depreciation, respectively)	225,470	224,271
Intangible assets (net of $311,650 and $289,912 accumulated amortization, respectively)	374,904	396,642
Goodwill	999,913	999,913
Deferred income tax assets	761,934	781,824
Deferred compensation plan assets	57,172	59,581
Investments in unconsolidated affiliates	192,398	153,224
Operating lease right-of-use assets	44,122	48,199
Other assets	67,436	76,948
Total assets	3,451,462	3,522,898
Liabilities and stockholders' equity
Accounts payable	70,510	85,413
Accrued expenses	53,728	48,144
Revenue share obligations	230,109	226,883
Accrued compensation and benefits	62,815	100,713
Deferred revenue	33,367	34,058
Current portion of notes payable to former limited partners	96,877	95,948
Line of credit and current portion of long-term debt	128,005	78,295
Other current liabilities	47,599	47,330
Total current liabilities	723,010	716,784
Long-term debt, less current portion	2,745	5,333
Notes payable to former limited partners, less current portion	250,324	298,995
Deferred compensation plan obligations	57,172	59,581
Deferred consideration, less current portion	57,444	56,809
Operating lease liabilities, less current portion	38,350	43,102
Other liabilities	43,615	112,401
Total liabilities	1,172,660	1,293,005
Commitments and contingencies
Stockholders' equity:
Treasury stock, at cost; 4,468,282 and 0 shares at December 31, 2021 and June 30, 2021, respectively	(176,024)	0
Additional paid-in capital	2,135,687	2,059,194
Retained earnings	317,896	169,474
Accumulated other comprehensive loss	(1)	0
Total stockholders' equity	2,278,802	2,229,893
Total liabilities and stockholders' equity	3,451,462	3,522,898
Class A Common Stock
Stockholders' equity:
Class A common stock, $0.01 par value, 500,000,000 shares authorized; 124,403,702 shares issued and 119,935,420 shares outstanding at December 31, 2021 and 122,533,051 shares issued and outstanding at June 30, 2021	$ 1,244	$ 1,225

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021
Allowance for doubtful accounts	$ 1,312	$ 1,174
Allowance for credit losses	1,248	1,110
Accumulated depreciation	559,269	518,332
Accumulated amortization	$ 311,650	$ 289,912
Treasury stock, shares (in shares)	4,468,282	0
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)	124,403,702	122,533,051
Common stock, shares outstanding (in shares)	119,935,420	122,533,051

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, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Net revenue:
Net revenue	$ 379,215	$ 422,827	$ 744,362	$ 769,714
Cost of revenue:
Cost of revenue	142,715	211,844	295,886	364,022
Gross profit	236,500	210,983	448,476	405,692
Operating expenses:
Selling, general and administrative	146,840	129,997	274,654	253,951
Research and development	846	722	1,840	1,298
Amortization of purchased intangible assets	10,850	10,260	21,739	23,464
Operating expenses	158,536	140,979	298,233	278,713
Operating income	77,964	70,004	150,243	126,979
Equity in net income of unconsolidated affiliates	6,116	4,572	13,174	10,499
Interest expense, net	(2,873)	(3,398)	(5,661)	(5,517)
(Loss) gain on FFF Put and Call Rights	0	(14,507)	64,110	(16,426)
Other income, net	2,392	4,890	2,072	8,573
Other income (expense), net	5,635	(8,443)	73,695	(2,871)
Income before income taxes	83,599	61,561	223,938	124,108
Income tax expense (benefit)	6,367	16,657	25,400	(78,324)
Net income	77,232	44,904	198,538	202,432
Net income attributable to non-controlling interest	(1,687)	(935)	(989)	(12,780)
Adjustment of redeemable limited partners' capital to redemption amount	0	0	0	(26,685)
Net income attributable to stockholders	75,545	43,969	197,549	162,967
Comprehensive income:
Net income	77,232	44,904	198,538	202,432
Comprehensive income attributable to non-controlling interest	(1,687)	(935)	(989)	(12,780)
Foreign currency translation loss	(1)	0	(1)	0
Comprehensive income attributable to stockholders	$ 75,544	$ 43,969	$ 197,548	$ 189,652
Weighted average shares outstanding:
Basic (in shares)	121,181	122,127	122,063	110,851
Diluted (in shares)	122,473	122,919	123,523	111,573
Earnings per share attributable to stockholders:
Basic earnings per share attributable to stockholders (in dollars per share)	$ 0.62	$ 0.36	$ 1.62	$ 1.47
Diluted earnings per share attributable to stockholders (in dollars per share)	$ 0.62	$ 0.36	$ 1.61	$ 1.46
Services
Net revenue:
Net revenue	$ 267,449	$ 243,157	$ 514,166	$ 474,629
Cost of revenue:
Cost of revenue	45,782	40,122	89,591	78,872
Net administrative fees
Net revenue:
Net revenue	150,403	145,339	299,865	277,984
Other services and support
Net revenue:
Net revenue	117,046	97,818	214,301	196,645
Products
Net revenue:
Net revenue	111,766	179,670	230,196	295,085
Cost of revenue:
Cost of revenue	$ 96,933	$ 171,722	$ 206,295	$ 285,150

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Impact of change in accounting principle	Adjusted balance	Common StockClass A Common Stock	Common StockClass B Common Stock	Common StockAdjusted balanceClass A Common Stock	Common StockAdjusted balanceClass B Common Stock	Treasury Stock	Treasury StockAdjusted balance	Additional Paid-In Capital	Additional Paid-In CapitalAdjusted balance	Accumulated Other Comprehensive Income	Retained Earnings	Retained EarningsImpact of change in accounting principle	Retained EarningsAdjusted balance
Beginning balance (in shares) at Jun. 30, 2020				71,627	50,213	71,627	50,213	0	0
Beginning balance at Jun. 30, 2020	$ 139,263	$ (1,228)	$ 138,035	$ 716	$ 0	$ 716	$ 0	$ 0	$ 0	$ 138,547	$ 138,547		$ 0	$ (1,228)	$ (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	157,528												157,528
Net (loss) income attributable to non-controlling interest	(11,845)												(11,845)
Adjustment of redeemable limited partners' capital to redemption amount	(26,685)												(26,685)
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 (in 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	(23,381)												(23,381)
Ending balance (in shares) at Sep. 30, 2020				122,081	0			0
Ending balance at Sep. 30, 2020	2,111,424			$ 1,221	$ 0			$ 0		2,012,047			98,156
Beginning balance (in shares) at Jun. 30, 2020				71,627	50,213	71,627	50,213	0	0
Beginning balance at Jun. 30, 2020	139,263	$ (1,228)	$ 138,035	$ 716	$ 0	$ 716	$ 0	$ 0	$ 0	138,547	$ 138,547		0	$ (1,228)	$ (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	202,432
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	2,149,259			$ 1,222	$ 0			$ 0		2,029,604			118,433
Beginning balance (in shares) at Sep. 30, 2020				122,081	0			0
Beginning balance at Sep. 30, 2020	2,111,424			$ 1,221	$ 0			$ 0		2,012,047			98,156
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									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 (loss) income attributable to non-controlling interest	0									935			(935)
Adjustment of redeemable limited partners' capital to redemption amount	0									318			(318)
Dividends	(23,374)												(23,374)
Non-controlling interest related to acquisition	3,690									3,690
Capital contributions	1,959									1,959
Ending balance (in shares) at Dec. 31, 2020				122,228	0			0
Ending balance at Dec. 31, 2020	2,149,259			$ 1,222	$ 0			$ 0		2,029,604			118,433
Beginning balance (in shares) at Jun. 30, 2021				122,533	0			0
Beginning balance at Jun. 30, 2021	2,229,893			$ 1,225	$ 0			$ 0		2,059,194		$ 0	169,474
Increase (Decrease) in Stockholders' Equity
Issuance of Class A common stock under equity incentive plan (in shares)				1,239
Issuance of Class A common stock under equity incentive plan	22,864			$ 13						22,851
Treasury stock (in shares)				(1,091)				(1,091)
Treasury stock	(42,628)							$ (42,628)
Stock-based compensation expense	7,554									7,554
Repurchase of vested restricted units for employee tax-withholding	(9,171)									(9,171)
Net income	121,306												121,306
Net (loss) income attributable to non-controlling interest	0									(698)			698
Dividends	(24,877)												(24,877)
Non-controlling interest related to acquisition	23,145									23,145
Ending balance (in shares) at Sep. 30, 2021				122,681	0			(1,091)
Ending balance at Sep. 30, 2021	2,328,086			$ 1,238	$ 0			$ (42,628)		2,102,875		0	266,601
Beginning balance (in shares) at Jun. 30, 2021				122,533	0			0
Beginning balance at Jun. 30, 2021	2,229,893			$ 1,225	$ 0			$ 0		2,059,194		0	169,474
Increase (Decrease) in Stockholders' Equity
Increase in additional paid-in capital related to final exchange by member owners, including TRA termination	0
Net income	198,538
Reclassification of redeemable limited partners' capital to permanent equity	0
Early termination payments to members	0
Ending balance (in shares) at Dec. 31, 2021				119,935	0			(4,468)
Ending balance at Dec. 31, 2021	2,278,802			$ 1,244	$ 0			$ (176,024)		2,135,687		(1)	317,896
Beginning balance (in shares) at Sep. 30, 2021				122,681	0			(1,091)
Beginning balance at Sep. 30, 2021	2,328,086			$ 1,238	$ 0			$ (42,628)		2,102,875		0	266,601
Increase (Decrease) in Stockholders' Equity
Issuance of Class A common stock under equity incentive plan (in shares)				579
Issuance of Class A common stock under equity incentive plan	14,403			$ 5						14,398
Issuance of Class A common stock under employee stock purchase plan (in shares)				52
Issuance of Class A common stock under employee stock purchase plan	1,977			$ 1						1,976
Treasury stock (in shares)				(3,377)				(3,377)
Treasury stock	(133,396)							$ (133,396)
Stock-based compensation expense	16,234									16,234
Repurchase of vested restricted units for employee tax-withholding	(1,495)									(1,495)
Net income	77,232												77,232
Net (loss) income attributable to non-controlling interest	0									1,687			(1,687)
Stockholders' Equity, Change in Reporting Entity	12									12
Dividends	(24,250)												(24,250)
Foreign currency translation loss	(1)											(1)
Ending balance (in shares) at Dec. 31, 2021				119,935	0			(4,468)
Ending balance at Dec. 31, 2021	$ 2,278,802			$ 1,244	$ 0			$ (176,024)		$ 2,135,687		$ (1)	$ 317,896

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - Class A Common Stock - $ / shares	Oct. 21, 2021	Dec. 31, 2021	Dec. 31, 2020
Per share amount of dividends (in dollars per share)		$ 0.20	$ 0.19
Dividends declared (in dollars per share	$ 0.20

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Net income	$ 198,538	$ 202,432
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	63,205	60,031
Equity in net income of unconsolidated affiliates	(13,174)	(10,499)
Deferred income taxes	19,890	(104,378)
Stock-based compensation	23,788	14,545
(Gain) loss on FFF call/put rights	(64,110)	16,426
Other	930	323
Changes in operating assets and liabilities, net of the effects of acquisitions:
Accounts receivable, inventories, prepaid expenses and other assets	50,164	(127,764)
Contract assets	(22,963)	(23,541)
Accounts payable, accrued expenses, deferred revenue, revenue share obligations and other liabilities	(58,741)	88,602
Net cash provided by operating activities	197,527	116,177
Investing activities
Purchases of property and equipment	(42,660)	(44,864)
Acquisition of businesses and equity method investments, net of cash acquired	(26,000)	(791)
Other	0	(1,228)
Net cash used in investing activities	(68,660)	(46,883)
Financing activities
Payments made on notes payable	(50,621)	(3,684)
Proceeds from credit facility	175,000	125,000
Payments on credit facility	(125,000)	(100,000)
Distributions to limited partners of Premier LP	0	(9,949)
Payments to limited partners of Premier LP related to tax receivable agreements	0	(24,218)
Cash dividends paid	(49,044)	(46,396)
Repurchase of Class A common stock (held as treasury stock)	(173,916)	0
Proceeds from exercise of stock options	37,267	2,416
Other	14,468	(2,754)
Net cash used in financing activities	(171,846)	(59,585)
Effect of exchange rate changes on cash flows	(1)	0
Net increase in cash and cash equivalents	(42,980)	9,709
Cash and cash equivalents at beginning of period	129,141	99,304
Cash and cash equivalents at end of period	$ 86,161	$ 109,013

ORGANIZATION

ORGANIZATION	6 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	(1) ORGANIZATION 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. Following an internal legal entity reorganization of the Company’s corporate subsidiaries in December 2021 to simplify the Company’s subsidiary reporting structure (the “Subsidiary Reorganization”), the Company’s primary asset is its equity interest in its wholly owned subsidiary Premier Healthcare Solutions, Inc., a Delaware corporation (“PHSI”). The Company conducts substantially all of its business operations through PHSI and its other consolidated subsidiaries, including Premier LP. 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 also provides services to other businesses including food service, schools and universities. 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 members 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 15 - 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 consists of three sub-brands: PINC AI TM , the Company’s technology and services platform with offerings that help optimize performance in three main areas – clinical intelligence, margin improvement and value-based care – using advanced analytics to identify improvement opportunities, consulting services for clinical and operational design, and workflow solutions to hardwire sustainable change in the provider, life sciences and payer markets; Contigo Health ® , the Company’s direct-to-employer business which provides third party administrator services and management of health benefit programs; and Remitra TM , the Company’s digital invoicing and payables business. December 2021 Subsidiary Reorganization On December 1, 2021, the Company completed the Subsidiary Reorganization, an internal legal entity reorganization of the Company’s corporate subsidiaries for the purpose of simplifying the Company’s subsidiary reporting structure. Pursuant to the Subsidiary Reorganization, (i) Premier Services, LLC (“Prior Premier GP”) merged with and into Premier, with Premier being the surviving entity; (ii) Premier LP distributed 99% of the equity interest of PHSI to Premier on a tax-free basis; (iii) Premier LP distributed 1% of the equity interest of PHSI to Premier Services II, LLC (“Premier Services”); (iv) Premier Services distributed the 1% of the equity interest of PHSI to Premier; and (v) Premier contributed (a) its membership interest in Premier Services and (b) its partnership interest in Premier LP to PHSI. As a result of the Subsidiary Reorganization, (i) the Company conducts substantially all of its business operations through PHSI and PHSI’s direct and indirect subsidiaries and (ii) PHSI became the sole general partner of Premier LP. 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, consisting of normal recurring adjustments unless otherwise disclosed. 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 2021 Annual Report. Supplementary Cash Flows Information The following table presents supplementary cash flows information for the six months ended December 31, 2021 and 2020 (in thousands): Six Months Ended December 31, 2021 2020 Supplementary non-cash investing and financing activities: Increase in treasury stock related to a payable as a result of applying trade date accounting when recording the repurchase of Class A common stock $ 2,108 $ — Non-cash additions to property and equipment 8 — Accrued dividend equivalents 244 363 Increase in redeemable limited partners' capital for adjustment to fair value, with offsetting decrease in stockholders' equity — 26,685 Decrease in redeemable limited partners' capital, with offsetting increase in stockholders' equity related to quarterly exchanges by member owners — (2,437) Net increase in deferred tax assets related to departures and quarterly exchanges by member owners and other adjustments — 331 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 former limited partners, net of discounts — 438,967 Net increase in additional paid-in capital related to departures and quarterly exchanges by member owners and other adjustments — 37,319 Increase in additional paid-in capital related to final exchange by member owners — 517,526 Use of Estimates in the Preparation of Financial Statements

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 31, 2021
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 2021 Annual Report, except as described below. Recently Issued Accounting Standards Not Yet Adopted In October 2021, the FASB issued ASU No. 2021-08 Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, (“ASU 2021-08”), which requires that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers. ASU 2021-08 will be effective for the Company for the fiscal year beginning July 1, 2023. Early adoption is permitted including adoption in interim periods. The Company is currently evaluating the impact of the adoption of the new standard on its consolidated financial statements and related disclosures.

BUSINESS ACQUISITIONS

BUSINESS ACQUISITIONS	6 Months Ended
	Dec. 31, 2021
Business Combinations [Abstract]
BUSINESS ACQUISITIONS	(3) BUSINESS ACQUISITIONS Acquisition of Invoice Delivery Services, LP Assets On March 1, 2021, the Company acquired, through its indirect, wholly-owned subsidiary Premier IDS, LLC, substantially all the assets and assumed certain liabilities of Invoice Delivery Services, LP (“IDS”) for an adjusted purchase price of $80.7 million, subject to certain adjustments, of which $80.0 million was paid at closing with borrowings under the Company’s Credit Facility (as defined in Note 8 - Debt and Notes Payable). The Company has accounted for the IDS acquisition as a business combination whereby the purchase price was allocated to tangible and intangible assets acquired and liabilities assumed based on their fair values. The total fair value assigned to intangible assets acquired was $22.4 million, consisting primarily of developed technology. The IDS acquisition resulted in the recognition of $57.7 million of goodwill based on the purchase price paid in the acquisition compared to the fair value of the tangible assets acquired. The IDS acquisition was considered an asset acquisition for income tax purposes. Accordingly, the Company expects tax goodwill to be deductible for tax purposes. The initial purchase price allocation for the IDS acquisition is preliminary and subject to changes in the valuation of the assets acquired and liabilities assumed. IDS is being integrated within Premier under the brand name Remitra TM and is reported as part of the Performance Services segment. Pro forma results of operations for the acquisition have not been presented because the effects on revenue and net income were not material to the Company’s historic consolidated financial statements.

INVESTMENTS

INVESTMENTS	6 Months Ended
	Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS	(4) 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, 2021 June 30, 2021 2021 2020 2021 2020 FFF $ 129,947 $ 120,548 $ 3,454 $ 3,007 $ 9,399 $ 7,581 Exela 27,003 — 1,003 — 1,003 — Prestige 16,815 14,478 1,579 1,594 2,337 2,646 Other investments 18,633 18,198 80 (29) 435 272 Total investments $ 192,398 $ 153,224 $ 6,116 $ 4,572 $ 13,174 $ 10,499 The Company, through Premier Supply Chain Improvement, Inc. (“PSCI”), held a 49% interest in FFF Enterprises, Inc. (“FFF”) through its ownership of stock of FFF at December 31, 2021 and June 30, 2021. On July 29, 2021, the FFF shareholders’ agreement was amended resulting in the termination of the FFF put right, which had previously provided the majority shareholder of FFF a right to require the Company to purchase such shareholder’s interest in FFF, on an all or nothing basis, on or after April 15, 2023 (“FFF Put Right”). The termination of the FFF Put Right resulted in the derecognition of the FFF Put Right liability and the recognition of a corresponding non-cash gain of $64.1 million in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income (see Note 5 - Fair Value Measurements for additional information). The Company, through its consolidated subsidiary, ExPre Holdings, LLC (“ExPre”), held an approximate 6% interest in Exela Holdings, Inc. (“Exela”), through its ownership of Exela Class A common stock at December 31, 2021. The Company owns approximately 15% of the membership interest of ExPre, with the remainder of the membership interests held by 11 member health systems or their affiliates. The Company, through its consolidated subsidiary, PRAM Holdings, LLC (“PRAM”), held an approximate 20% interest in Prestige Ameritech Ltd. (“Prestige”) through its ownership of Prestige limited partnership units at December 31, 2021. The Company owns approximately 26% of the membership interest of PRAM, with the remainder of the membership interests held by 16 member health systems or their affiliates.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	(5) FAIR VALUE MEASUREMENTS Recurring Fair Value Measurements The following table represents the Company’s financial assets and liabilities, which are measured at fair value on a recurring basis (in thousands): 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 December 31, 2021 Cash equivalents $ 75 $ 75 $ — $ — Deferred compensation plan assets 63,395 63,395 — — Total assets 63,470 63,470 — — Earn-out liabilities 24,139 — — 24,139 Total liabilities $ 24,139 $ — $ — $ 24,139 June 30, 2021 Cash equivalents $ 75 $ 75 $ — $ — Deferred compensation plan assets 65,051 65,051 — — Total assets 65,126 65,126 — — Earn-out liabilities 24,249 — — 24,249 FFF put right 64,110 — — 64,110 Total liabilities $ 88,359 $ — $ — $ 88,359 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 ($6.2 million and $5.5 million at December 31, 2021 and June 30, 2021, 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 On July 29, 2021, the FFF shareholders’ agreement was amended resulting in the termination of the FFF Put Right and the derecognition of the FFF Put Right liability. In the event of a Key Man Event (generally defined in the FFF 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 180 calendar days after the date of a Key Man Event (the “Call Right”, together with the FFF Put Right, the “Put and Call Rights”). As of December 31, 2021 and June 30, 2021, the Call Right had zero value. In the event that the Call Right is exercised, the purchase price for the additional interest in FFF will be at a per share price equal to FFF’s earnings before interest, taxes, depreciation and amortization (“FFF 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, divided by the number of shares of FFF common stock then outstanding (“Equity Value per Share”). At June 30, 2021, the fair values of the 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 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 FFF 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. The Company utilized the following assumptions to estimate the fair value of the Put and Call Rights at June 30, 2021: June 30, 2021 Annual FFF EBITDA growth rate 2.5-10.8% Annual revenue growth rate 2.5-6.3% Correlation 80.0 % Weighted average cost of capital 14.0 % Asset volatility 30.0 % Credit spread 0.8 % 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. At June 30, 2021, the Company recorded the 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 Put and Call Rights, including the gain recorded as a result of the termination of the FFF Put Right, were recorded within other income (expense), net in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income. Earn-out liabilities An earn-out liability was established in connection with the acquisition of substantially all of the assets and certain liabilities of Acurity, Inc. and Nexera, Inc. (the “Acurity and Nexera asset acquisition”) in February 2020. The earn-out liability was classified as Level 3 of the fair value hierarchy. The earn-out liability arising from expected earn-out payments related to the Acurity and Nexera asset acquisition was 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 transferred 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 acquisition agreement. The Acurity and Nexera earn-out liability utilized a credit spread of 0.9% at both December 31, 2021 and June 30, 2021. As of December 31, 2021 and June 30, 2021, 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, 2021 and June 30, 2021 was $24.1 million and $24.2 million, respectively. Acurity and Nexera Earn-out (a) Input assumptions As of December 31, 2021 As of June 30, 2021 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 0.9 % 0.9 % _________________________________ (a) The Acurity and Nexera earn-out liability was initially valued as of February 28, 2020. A reconciliation of the Company’s Put Right and earn-out liabilities is as follows (in thousands): Beginning Balance Purchases (Settlements) (a)(b) (Gain)/Loss (c) Ending Balance Three Months Ended December 31, 2021 Earn-out liabilities $ 24,368 $ — $ (229) $ 24,139 Total Level 3 liabilities $ 24,368 $ — $ (229) $ 24,139 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 Six Months Ended December 31, 2021 Earn-out liabilities $ 24,249 $ — $ (110) $ 24,139 FFF put right 64,110 (64,110) — — Total Level 3 liabilities $ 88,359 $ (64,110) $ (110) $ 24,139 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 _________________________________ (a) Purchases (Settlements) for the six months ended December 31, 2021 includes non-cash gain recognized as a result the termination of the FFF Put Right and the derecognition of the FFF Put Right liability. (b) Purchases (Settlements) for the three months ended December 31, 2020 includes the Medpricer earnout, which had been earned but not yet paid as of December 31, 2020. Purchases (Settlements) for the six months ended December 31, 2020 includes the Medpricer earnout and the Stanson earnout, which was paid in full as of December 31, 2020. (c) A gain on level 3 liability balances will decrease the liability ending balance whereas 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, 2021, the Company recorded notes payable to former limited partners as a result of the August 2020 Restructuring. Although these notes are non-interest bearing, they include a Level 2 input associated with the implied interest rate of 1.8% and are calculated as of August 11, 2020. (see Note 8 - Debt and Notes Payable). During the six months ended December 31, 2021, no non-recurring fair value measurements were required relating to the measurement of goodwill and intangible assets for impairment. 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 $0.1 million at both December 31, 2021 and June 30, 2021 based on assumed market interest rates of 1.6% for both periods. Other Financial Instruments

CONTRACT BALANCES

CONTRACT BALANCES	6 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
CONTRACT BALANCES	(6) CONTRACT BALANCES Deferred Revenue Revenue recognized during the six months ended December 31, 2021 that was included in the opening balance of deferred revenue at June 30, 2021 was $13.0 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 of $8.1 million and $3.7 million was recognized during the three and six months ended December 31, 2021, respectively, from performance obligations that were satisfied or partially satisfied in prior periods. The net revenue recognized was driven by an increase of $7.3 million and $3.1 million, respectively, in net administrative fees revenue related to under-forecasted cash receipts received in the current period. There was also an increase of $0.8 million and $0.6 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. Net revenue of $3.1 million was recognized during the three months ended December 31, 2020 from performance obligations that were satisfied or partially satisfied in prior periods. 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. A decrease to net revenue of $3.2 million was recognized during the six months ended December 31, 2020 from performance obligations that were partially satisfied in prior periods. The decrease in net revenue recognized 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. Remaining performance obligations represent the portion of the transaction price that has not yet been satisfied or achieved. As of December 31, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was $654.1 million. The Company expects to recognize approximately 44% of the remaining performance obligations over the next 12 months and an additional 26% over the following 12 months, with the remainder recognized thereafter.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	(7) GOODWILL AND INTANGIBLE ASSETS Goodwill At December 31, 2021 and June 30, 2021, we had goodwill balances recorded at Supply Chain Services and Performance Services of $388.5 million and $611.4 million, respectively. Intangible Assets, Net Intangible assets, net consisted of the following (in thousands): Useful Life December 31, 2021 June 30, 2021 Member relationships 14.7 years $ 386,100 $ 386,100 Technology 6.1 years 186,017 186,017 Customer relationships 9.6 years 70,830 70,830 Trade names 7.4 years 24,610 24,610 Non-compete agreements 5.3 years 11,315 11,315 Other (a) 10.2 years 7,682 7,682 Total intangible assets 686,554 686,554 Accumulated amortization (311,650) (289,912) Total intangible assets, net $ 374,904 $ 396,642 _________________________________ (a) Includes a $1.0 million indefinite-lived asset. Intangible asset amortization was $21.7 million and $23.5 million for the six months ended December 31, 2021 and 2020, respectively.

DEBT AND NOTES PAYABLE

DEBT AND NOTES PAYABLE	6 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
DEBT AND NOTES PAYABLE	(8) DEBT AND NOTES PAYABLE Long-term debt and notes payable consisted of the following (in thousands): December 31, 2021 June 30, 2021 Credit facility $ 125,000 $ 75,000 Notes payable to members, net of discount 347,201 394,943 Other notes payable 5,750 8,628 Total debt and notes payable 477,951 478,571 Less: current portion (224,882) (174,243) Total long-term debt and notes payable $ 253,069 $ 304,328 Credit Facility PHSI, along with its consolidated subsidiaries, Premier LP and PSCI, as Co-Borrowers, Prior Premier GP and certain domestic subsidiaries of the Co-Borrowers, as guarantors, entered into an unsecured Credit Facility, dated as of November 9, 2018 (the “Credit Facility”). On December 1, 2021, in connection with the Subsidiary Reorganization, the Credit Facility was amended to remove Prior Premier GP as a guarantor. 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 rangin g 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, 2021, the weighted average interest rate on outstanding borrowings under the Credit Facility was 1.110% and the annual commitment fee, based on the actual daily unused amount of commitments under the Credit Facility, was 0.100%. The Credit Facility contains customary representations and warranties as well as customary affirmative and negative covenants, including, among others, limitations on liens, indebtedness, fundamental changes, dispositions, restricted payments and investments. The Company was in compliance with all such covenants at December 31, 2021. 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. The Company had $125.0 million in outstanding borrowings under the Credit Facility at December 31, 2021 with $874.9 million of available borrowing capacity after reductions for outstanding borrowings and outstanding letters of credit. For the six months ended December 31, 2021, the Company borrowed $175.0 million and repaid $125.0 million of outstanding borrowings under the Credit Facility. Notes Payable Notes Payable to Former Limited Partners At December 31, 2021, the Company had $347.2 million of notes payable to former LPs, net of discounts on notes payable of $12.2 million, of which $96.9 million was recorded to current portion of notes payable to former limited partners in the accompanying Condensed Consolidated Balance Sheets. At June 30, 2021, the Company had $394.9 million of notes payable to former LPs, net of discounts on notes payable of $15.8 million, of which $95.9 million was recorded to current portion of notes payable to former limited partners in the accompanying Condensed Consolidated Balance Sheets. The notes payable to former LPs were issued in connection with the early termination of the TRA as part of the August 2020 Restructuring. Although the notes payable to former LPs are non-interest bearing, pursuant to GAAP requirements, they were recorded net of imputed interest at a fixed annual rate of 1.8%. Other At December 31, 2021 and June 30, 2021, the Company had $5.8 million and $8.6 million in other notes payable, respectively, of which $3.0 million and $3.3 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

REDEEMABLE LIMITED PARTNERS' CA

REDEEMABLE LIMITED PARTNERS' CAPITAL	6 Months Ended
	Dec. 31, 2021
Temporary Equity Disclosure [Abstract]
REDEEMABLE LIMITED PARTNERS' CAPITAL	(9) REDEEMABLE LIMITED PARTNERS' CAPITAL The fair value of redeemable limited partners’ capital 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 at July 31, 2020. As a result, there were no adjustments to the fair value of redeemable limited partners’ capital for the six months ended December 31, 2021. For the six months ended December 31, 2020, the Company recorded an adjustment of $(26.7) million 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. Subsequent to July 31, 2020, there were no adjustments to the fair value of redeemable limited partners’ capital as an adjustment of redeemable limited partners’ capital to redemption amount were recorded in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income. The tables below provide a summary of the changes in redeemable limited partners’ capital from June 30, 2020 to September 30, 2020 (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 $ — $ — $ —

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Dec. 31, 2021
Equity [Abstract]
STOCKHOLDERS' EQUITY	(10) STOCKHOLDERS' EQUITY As of December 31, 2021, there were 119,935,420 shares of the Company's Class A common stock, par value $0.01 per share, outstanding. On August 5, 2021, the Company’s Board of Directors authorized the repurchase of up to $250.0 million of our outstanding Class A common stock during fiscal year 2022 through open market purchases or privately negotiated transactions. As of December 31, 2021, the Company had purchased approximately 4.5 million shares of Class A common stock at an average price of $39.37 per share for a total purchase price of $176.0 million. There can be no assurances regarding the timing or number of shares of Class A common stock purchased under this authorization. The repurchase authorization may be suspended, delayed or discontinued at any time at the discretion of the Company’s Board of Directors. During the six months ended December 31, 2021, the Company paid cash dividends of $0.20 per share on outstanding shares of Class A common stock to stockholders on each of September 15, 2021 and December 15, 2021. On January 20, 2022, the Board of Directors declared a cash dividend of $0.20 per share, payable on March 15, 2022 to stockholders of record on March 1, 2022.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	(11) 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 was due to the exchange benefit obtained by limited partners through the ownership of Class B common units, which were canceled in conjunction with the August 2020 Restructuring. Except when the effect would be anti-dilutive, the diluted earnings per share calculation, which is calculated using the treasury stock method, includes the impact of all potentially issuable dilutive shares of Class A common stock. The following table provides a reconciliation of the numerator and denominator used for basic and diluted earnings per share (in thousands, except per share amounts): Three Months Ended December 31, Six Months Ended December 31, 2021 2020 2021 2020 Numerator for basic earnings per share: Net income attributable to stockholders (a) $ 75,545 $ 43,969 $ 197,549 $ 162,967 Numerator for diluted earnings per share: Net income attributable to stockholders (a) $ 75,545 $ 43,969 $ 197,549 $ 162,967 Net income attributable to non-controlling interest — — 989 — Net income for diluted earnings per share $ 75,545 $ 43,969 $ 198,538 $ 162,967 Denominator for earnings per share: Basic weighted average shares outstanding (b) 121,181 122,127 122,063 110,851 Effect of dilutive securities: (c) Stock options 267 321 288 287 Restricted stock 540 333 516 318 Performance share awards 485 138 656 117 Diluted weighted average shares and assumed conversions 122,473 122,919 123,523 111,573 Earnings per share attributable to stockholders: Basic $ 0.62 $ 0.36 $ 1.62 $ 1.47 Diluted $ 0.62 $ 0.36 $ 1.61 $ 1.46 _________________________________ (a) Net income attributable to stockholders was calculated as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2021 2020 2021 2020 Net income $ 77,232 $ 44,904 $ 198,538 $ 202,432 Net income attributable to non-controlling interest (1,687) (935) (989) (12,780) Adjustment of redeemable limited partners’ capital to redemption amount — — — (26,685) Net income attributable to stockholders $ 75,545 $ 43,969 $ 197,549 $ 162,967 (b) Weighted average number of common shares used for basic earnings per share excludes the impact of all potentially issuable dilutive shares of Class A common stock for the six months ended December 31, 2021 and 2020. (c) For the six months ended December 31, 2021, the effect of 0.3 million restricted stock units was excluded from diluted weighted average shares outstanding as it had an anti-dilutive effect. Additionally, the effect of 0.2 million and 0.4 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 and six months ended December 31, 2020, the effect of 0.4 million and 1.1 million stock options and restricted stock units, respectively, was excluded from diluted weighted average shares outstanding as it had an anti-dilutive effect. Additionally, 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.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	(12) 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 six months ended December 31, 2021 and 2020, 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. See Note 13 - 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, 2021 2020 2021 2020 Pre-tax stock-based compensation expense $ 16,234 $ 7,316 $ 23,788 $ 14,545 Deferred tax benefit (a) 3,650 1,011 4,725 2,120 Total stock-based compensation expense, net of tax $ 12,584 $ 6,305 $ 19,063 $ 12,425 _________________________________ (a) For the three and six months ended December 31, 2021, the deferred tax benefit was reduced by $0.8 million and $1.5 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, 2021, there were 4.6 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, 2021: 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, 2021 990,301 $ 35.27 1,731,002 $ 35.56 2,163,006 $ 30.32 Granted 617,505 $ 37.79 651,392 $ 37.18 — $ — Vested/exercised (281,142) $ 40.41 (588,142) $ 43.74 (1,236,015) $ 30.17 Forfeited (117,122) $ 33.57 (168,127) $ 31.87 (12,025) $ 36.54 Outstanding at December 31, 2021 1,209,542 $ 35.53 1,626,125 $ 33.63 914,966 $ 30.45 Stock options outstanding and exercisable at December 31, 2021 914,966 $ 30.45 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 generally expire either twelve months after an employee’s termination with the Company or 90 days after an employee’s termination with the Company, depending on the termination circumstances. Stock options generally vest in equal annual installments over three years. Unrecognized stock-based compensation expense at December 31, 2021 was as follows (in thousands). At December 31, 2021, there was no unrecognized stock-based compensation expense for outstanding stock options. Unrecognized Stock-Based Compensation Expense Weighted Average Amortization Period Restricted stock $ 28,795 2.2 years Performance share awards 29,291 1.9 years Total unrecognized stock-based compensation expense $ 58,086 2.1 years The aggregate intrinsic value of stock options at December 31, 2021 was as follows (in thousands): Intrinsic Value of Stock Options Outstanding and exercisable $ 9,810 Exercised during the year ended December 31, 2021 $ 9,697

INCOME TAXES

INCOME TAXES	6 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	(13) INCOME TAXES Income tax expense for the three months ended December 31, 2021, and 2020 was $6.4 million and $16.7 million, respectively, which reflects effective tax rates of 8% and 27%, respectively. The change in the effective tax rate for the three months ended December 31, 2021 is primarily attributable to the Subsidiary Reorganization which was completed on December 1, 2021. Income tax expense for the six months ended December 31, 2021 was $25.4 million, which reflects an effective tax rate of 11% compared to an income tax benefit of $78.3 million for the six months ended December 31, 2020 which reflects an effective tax rate of (63)%. The change in the effective tax rate for the six months ended December 31, 2021 is primarily driven by the prior year deferred tax remeasurement due to the change in the state statutory rate and valuation allowance release resulting from the Company and its subsidiaries forming one consolidated filing group for tax purposes at the consummation of the August 2020 Restructuring. Excluding the one-time deferred tax benefit, the effective tax rate would have been 24% for the six months ended December 31, 2020.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	(14) COMMITMENTS AND CONTINGENCIES Operating Leases Operating lease expense for the three months ended December 31, 2021 and 2020 was $2.5 million and $2.7 million, respectively. Operating lease expense for the six months ended December 31, 2021 and 2020 was $5.1 million and $5.6 million, respectively. As of December 31, 2021, the weighted average remaining lease term was 4.3 years and the weighted average discount rate was 4%. Future minimum lease payments under noncancellable operating leases with initial lease terms in excess of one year were as follows (in thousands): December 31, 2021 June 30, 2021 2022 (a) $ 6,003 $ 11,738 2023 12,131 12,012 2024 12,267 12,145 2025 12,301 12,177 2026 9,005 8,878 Thereafter 1,324 1,293 Total future minimum lease payments 53,031 58,243 Less: imputed interest 4,351 5,289 Total operating lease liabilities (b) $ 48,680 $ 52,954 _________________________________ (a) As of December 31, 2021, future minimum lease payments are for the period from January 1, 2022 to June 30, 2022. (b) As of December 31, 2021, total operating lease liabilities included $10.3 million within other current liabilities 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. Furthermore, as a public company, the Company may become subject to stockholder derivative or other similar litigation. If current or future government regulations, including but not limited to 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 regulatory inquiries or investigations, 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, 2021
Segment Reporting [Abstract]
SEGMENTS	(15) 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 consists of three sub-brands: PINC AI TM , the Company’s technology and services platform; Contigo Health ® , the Company’s direct-to-employer business; and Remitra TM , the Company’s digital invoicing and payables business. The following table presents disaggregated revenue by business segment and underlying source (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2021 2020 2021 2020 Net revenue: Segment net revenue Supply Chain Services Net administrative fees $ 150,403 $ 145,339 $ 299,865 $ 277,984 Other services and support 9,326 4,086 18,251 9,677 Services 159,729 149,425 318,116 287,661 Products 111,766 179,670 230,196 295,085 Total Supply Chain Services (a) 271,495 329,095 548,312 582,746 Performance Services (a) 107,729 93,732 196,059 186,968 Total segment net revenue 379,224 422,827 744,371 769,714 Eliminations (a) (9) — (9) — Net revenue $ 379,215 $ 422,827 $ 744,362 $ 769,714 _________________________________ (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, 2021 2020 2021 2020 Depreciation and amortization expense (a) : Supply Chain Services $ 13,452 $ 9,417 $ 26,596 $ 18,219 Performance Services 16,076 17,810 32,186 37,567 Corporate 2,192 2,126 4,423 4,245 Total depreciation and amortization expense $ 31,720 $ 29,353 $ 63,205 $ 60,031 Capital expenditures: Supply Chain Services $ 7,315 $ 2,699 $ 15,472 $ 5,575 Performance Services 12,363 16,912 23,386 35,283 Corporate 1,932 271 3,802 4,006 Total capital expenditures $ 21,610 $ 19,882 $ 42,660 $ 44,864 December 31, 2021 June 30, 2021 Total assets: Supply Chain Services $ 1,475,941 $ 1,550,300 Performance Services 1,034,427 1,043,608 Corporate 941,097 928,939 Total assets 3,451,465 3,522,847 Eliminations (b) (3) 51 Total assets, net $ 3,451,462 $ 3,522,898 _________________________________ (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 less cost of revenue and 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, and including equity in net income of unconsolidated affiliates. 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 unaudited Segment Adjusted EBITDA, a Non-GAAP financial measure, is as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2021 2020 2021 2020 Income before income taxes $ 83,599 $ 61,561 $ 223,938 $ 124,108 Equity in net income of unconsolidated affiliates (a) (6,116) (4,572) (13,174) (10,499) Interest and investment loss, net 2,873 3,398 5,661 5,517 Loss (gain) on FFF Put and Call Rights (b) — 14,507 (64,110) 16,426 Other (income) expense (2,392) (4,890) (2,072) (8,573) Operating income 77,964 70,004 150,243 126,979 Depreciation and amortization 20,870 19,093 41,466 36,567 Amortization of purchased intangible assets 10,850 10,260 21,739 23,464 Stock-based compensation (c) 16,330 7,415 24,081 14,790 Acquisition and disposition related expenses 3,746 7,918 7,167 10,763 Equity in net income of unconsolidated affiliates (a) 6,116 4,572 13,174 10,499 Deferred compensation plan income (d) 2,389 4,803 2,071 7,710 Other expense, net 3,751 753 3,778 4,789 Non-GAAP Adjusted EBITDA $ 142,016 $ 124,818 $ 263,719 $ 235,561 Segment Non-GAAP Adjusted EBITDA: Supply Chain Services (e) $ 134,280 $ 118,939 $ 263,549 $ 221,590 Performance Services (e) 39,010 36,609 62,725 73,724 Corporate (31,274) (30,730) (62,555) (59,753) Non-GAAP Adjusted EBITDA $ 142,016 $ 124,818 $ 263,719 $ 235,561 _________________________________ (a) Refer to Note 4 - Investments for more information. (b) Refer to Note 5 - Fair Value Measurements for more information. (c) Includes non-cash employee stock-based compensation expense and stock purchase plan expense of $0.1 million for both the three months ended December 31, 2021 and 2020 and $0.3 million and $0.2 million for the six months ended December 31, 2021 and 2020, respectively. (d) Represents realized and unrealized gains and losses and dividend income on deferred compensation plan assets. (e) Includes intersegment revenue which is eliminated in consolidation.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
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, consisting of normal recurring adjustments unless otherwise disclosed. 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 2021 Annual Report.
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 credit losses, 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.
Recently Issued Accounting Standards Not Yet Adopted	Recently Issued Accounting Standards Not Yet Adopted In October 2021, the FASB issued ASU No. 2021-08 Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, (“ASU 2021-08”), which requires that an acquirer recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers. ASU 2021-08 will be effective for the Company for the fiscal year beginning July 1, 2023. Early adoption is permitted including adoption in interim periods. The Company is currently evaluating the impact of the adoption of the new standard on its consolidated financial statements and related disclosures.

ORGANIZATION (Tables)

ORGANIZATION (Tables)	6 Months Ended
	Dec. 31, 2021
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, 2021 and 2020 (in thousands): Six Months Ended December 31, 2021 2020 Supplementary non-cash investing and financing activities: Increase in treasury stock related to a payable as a result of applying trade date accounting when recording the repurchase of Class A common stock $ 2,108 $ — Non-cash additions to property and equipment 8 — Accrued dividend equivalents 244 363 Increase in redeemable limited partners' capital for adjustment to fair value, with offsetting decrease in stockholders' equity — 26,685 Decrease in redeemable limited partners' capital, with offsetting increase in stockholders' equity related to quarterly exchanges by member owners — (2,437) Net increase in deferred tax assets related to departures and quarterly exchanges by member owners and other adjustments — 331 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 former limited partners, net of discounts — 438,967 Net increase in additional paid-in capital related to departures and quarterly exchanges by member owners and other adjustments — 37,319 Increase in additional paid-in capital related to final exchange by member owners — 517,526

INVESTMENTS (Tables)

INVESTMENTS (Tables)	6 Months Ended
	Dec. 31, 2021
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, 2021 June 30, 2021 2021 2020 2021 2020 FFF $ 129,947 $ 120,548 $ 3,454 $ 3,007 $ 9,399 $ 7,581 Exela 27,003 — 1,003 — 1,003 — Prestige 16,815 14,478 1,579 1,594 2,337 2,646 Other investments 18,633 18,198 80 (29) 435 272 Total investments $ 192,398 $ 153,224 $ 6,116 $ 4,572 $ 13,174 $ 10,499

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities	The following table represents the Company’s financial assets and liabilities, which are measured at fair value on a recurring basis (in thousands): 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 December 31, 2021 Cash equivalents $ 75 $ 75 $ — $ — Deferred compensation plan assets 63,395 63,395 — — Total assets 63,470 63,470 — — Earn-out liabilities 24,139 — — 24,139 Total liabilities $ 24,139 $ — $ — $ 24,139 June 30, 2021 Cash equivalents $ 75 $ 75 $ — $ — Deferred compensation plan assets 65,051 65,051 — — Total assets 65,126 65,126 — — Earn-out liabilities 24,249 — — 24,249 FFF put right 64,110 — — 64,110 Total liabilities $ 88,359 $ — $ — $ 88,359
Fair Value Measurement Inputs and Valuation Assumptions	The Company utilized the following assumptions to estimate the fair value of the Put and Call Rights at June 30, 2021: June 30, 2021 Annual FFF EBITDA growth rate 2.5-10.8% Annual revenue growth rate 2.5-6.3% Correlation 80.0 % Weighted average cost of capital 14.0 % Asset volatility 30.0 % Credit spread 0.8 % Acurity and Nexera Earn-out (a) Input assumptions As of December 31, 2021 As of June 30, 2021 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 0.9 % 0.9 % _________________________________ (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 Put Right and earn-out liabilities is as follows (in thousands): Beginning Balance Purchases (Settlements) (a)(b) (Gain)/Loss (c) Ending Balance Three Months Ended December 31, 2021 Earn-out liabilities $ 24,368 $ — $ (229) $ 24,139 Total Level 3 liabilities $ 24,368 $ — $ (229) $ 24,139 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 Six Months Ended December 31, 2021 Earn-out liabilities $ 24,249 $ — $ (110) $ 24,139 FFF put right 64,110 (64,110) — — Total Level 3 liabilities $ 88,359 $ (64,110) $ (110) $ 24,139 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 _________________________________ (a) Purchases (Settlements) for the six months ended December 31, 2021 includes non-cash gain recognized as a result the termination of the FFF Put Right and the derecognition of the FFF Put Right liability. (b) Purchases (Settlements) for the three months ended December 31, 2020 includes the Medpricer earnout, which had been earned but not yet paid as of December 31, 2020. Purchases (Settlements) for the six months ended December 31, 2020 includes the Medpricer earnout 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 Put Right and earn-out liabilities is as follows (in thousands): Beginning Balance Purchases (Settlements) (a)(b) (Gain)/Loss (c) Ending Balance Three Months Ended December 31, 2021 Earn-out liabilities $ 24,368 $ — $ (229) $ 24,139 Total Level 3 liabilities $ 24,368 $ — $ (229) $ 24,139 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 Six Months Ended December 31, 2021 Earn-out liabilities $ 24,249 $ — $ (110) $ 24,139 FFF put right 64,110 (64,110) — — Total Level 3 liabilities $ 88,359 $ (64,110) $ (110) $ 24,139 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 _________________________________ (a) Purchases (Settlements) for the six months ended December 31, 2021 includes non-cash gain recognized as a result the termination of the FFF Put Right and the derecognition of the FFF Put Right liability. (b) Purchases (Settlements) for the three months ended December 31, 2020 includes the Medpricer earnout, which had been earned but not yet paid as of December 31, 2020. Purchases (Settlements) for the six months ended December 31, 2020 includes the Medpricer earnout 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, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets, net consisted of the following (in thousands): Useful Life December 31, 2021 June 30, 2021 Member relationships 14.7 years $ 386,100 $ 386,100 Technology 6.1 years 186,017 186,017 Customer relationships 9.6 years 70,830 70,830 Trade names 7.4 years 24,610 24,610 Non-compete agreements 5.3 years 11,315 11,315 Other (a) 10.2 years 7,682 7,682 Total intangible assets 686,554 686,554 Accumulated amortization (311,650) (289,912) Total intangible assets, net $ 374,904 $ 396,642 _________________________________ (a) Includes a $1.0 million indefinite-lived asset.

DEBT AND NOTES PAYABLE (Tables)

DEBT AND NOTES PAYABLE (Tables)	6 Months Ended
	Dec. 31, 2021
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, 2021 June 30, 2021 Credit facility $ 125,000 $ 75,000 Notes payable to members, net of discount 347,201 394,943 Other notes payable 5,750 8,628 Total debt and notes payable 477,951 478,571 Less: current portion (224,882) (174,243) Total long-term debt and notes payable $ 253,069 $ 304,328

REDEEMABLE LIMITED PARTNERS' _2

REDEEMABLE LIMITED PARTNERS' CAPITAL (Tables)	6 Months Ended
	Dec. 31, 2021
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 (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 $ — $ — $ —

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Reconciliation of the Numerator and Denominator Used for Basic and Diluted Earnings Per Share	The following table provides a reconciliation of the numerator and denominator used for basic and diluted earnings per share (in thousands, except per share amounts): Three Months Ended December 31, Six Months Ended December 31, 2021 2020 2021 2020 Numerator for basic earnings per share: Net income attributable to stockholders (a) $ 75,545 $ 43,969 $ 197,549 $ 162,967 Numerator for diluted earnings per share: Net income attributable to stockholders (a) $ 75,545 $ 43,969 $ 197,549 $ 162,967 Net income attributable to non-controlling interest — — 989 — Net income for diluted earnings per share $ 75,545 $ 43,969 $ 198,538 $ 162,967 Denominator for earnings per share: Basic weighted average shares outstanding (b) 121,181 122,127 122,063 110,851 Effect of dilutive securities: (c) Stock options 267 321 288 287 Restricted stock 540 333 516 318 Performance share awards 485 138 656 117 Diluted weighted average shares and assumed conversions 122,473 122,919 123,523 111,573 Earnings per share attributable to stockholders: Basic $ 0.62 $ 0.36 $ 1.62 $ 1.47 Diluted $ 0.62 $ 0.36 $ 1.61 $ 1.46 _________________________________ (a) Net income attributable to stockholders was calculated as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2021 2020 2021 2020 Net income $ 77,232 $ 44,904 $ 198,538 $ 202,432 Net income attributable to non-controlling interest (1,687) (935) (989) (12,780) Adjustment of redeemable limited partners’ capital to redemption amount — — — (26,685) Net income attributable to stockholders $ 75,545 $ 43,969 $ 197,549 $ 162,967 (b) Weighted average number of common shares used for basic earnings per share excludes the impact of all potentially issuable dilutive shares of Class A common stock for the six months ended December 31, 2021 and 2020. (c) For the six months ended December 31, 2021, the effect of 0.3 million restricted stock units was excluded from diluted weighted average shares outstanding as it had an anti-dilutive effect. Additionally, the effect of 0.2 million and 0.4 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 and six months ended December 31, 2020, the effect of 0.4 million and 1.1 million stock options and restricted stock units, respectively, was excluded from diluted weighted average shares outstanding as it had an anti-dilutive effect. Additionally, 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.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Dec. 31, 2021
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, 2021 2020 2021 2020 Pre-tax stock-based compensation expense $ 16,234 $ 7,316 $ 23,788 $ 14,545 Deferred tax benefit (a) 3,650 1,011 4,725 2,120 Total stock-based compensation expense, net of tax $ 12,584 $ 6,305 $ 19,063 $ 12,425 _________________________________ (a) For the three and six months ended December 31, 2021, the deferred tax benefit was reduced by $0.8 million and $1.5 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, 2021: 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, 2021 990,301 $ 35.27 1,731,002 $ 35.56 2,163,006 $ 30.32 Granted 617,505 $ 37.79 651,392 $ 37.18 — $ — Vested/exercised (281,142) $ 40.41 (588,142) $ 43.74 (1,236,015) $ 30.17 Forfeited (117,122) $ 33.57 (168,127) $ 31.87 (12,025) $ 36.54 Outstanding at December 31, 2021 1,209,542 $ 35.53 1,626,125 $ 33.63 914,966 $ 30.45 Stock options outstanding and exercisable at December 31, 2021 914,966 $ 30.45
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, 2021: 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, 2021 990,301 $ 35.27 1,731,002 $ 35.56 2,163,006 $ 30.32 Granted 617,505 $ 37.79 651,392 $ 37.18 — $ — Vested/exercised (281,142) $ 40.41 (588,142) $ 43.74 (1,236,015) $ 30.17 Forfeited (117,122) $ 33.57 (168,127) $ 31.87 (12,025) $ 36.54 Outstanding at December 31, 2021 1,209,542 $ 35.53 1,626,125 $ 33.63 914,966 $ 30.45 Stock options outstanding and exercisable at December 31, 2021 914,966 $ 30.45
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, 2021: 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, 2021 990,301 $ 35.27 1,731,002 $ 35.56 2,163,006 $ 30.32 Granted 617,505 $ 37.79 651,392 $ 37.18 — $ — Vested/exercised (281,142) $ 40.41 (588,142) $ 43.74 (1,236,015) $ 30.17 Forfeited (117,122) $ 33.57 (168,127) $ 31.87 (12,025) $ 36.54 Outstanding at December 31, 2021 1,209,542 $ 35.53 1,626,125 $ 33.63 914,966 $ 30.45 Stock options outstanding and exercisable at December 31, 2021 914,966 $ 30.45
Schedule of Unrecognized Stock-Based Compensation Expense	Unrecognized stock-based compensation expense at December 31, 2021 was as follows (in thousands). At December 31, 2021, there was no unrecognized stock-based compensation expense for outstanding stock options. Unrecognized Stock-Based Compensation Expense Weighted Average Amortization Period Restricted stock $ 28,795 2.2 years Performance share awards 29,291 1.9 years Total unrecognized stock-based compensation expense $ 58,086 2.1 years
Schedule of Aggregate Intrinsic Value of Stock Options	The aggregate intrinsic value of stock options at December 31, 2021 was as follows (in thousands): Intrinsic Value of Stock Options Outstanding and exercisable $ 9,810 Exercised during the year ended December 31, 2021 $ 9,697

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum lease payments under noncancellable operating leases with initial lease terms in excess of one year were as follows (in thousands): December 31, 2021 June 30, 2021 2022 (a) $ 6,003 $ 11,738 2023 12,131 12,012 2024 12,267 12,145 2025 12,301 12,177 2026 9,005 8,878 Thereafter 1,324 1,293 Total future minimum lease payments 53,031 58,243 Less: imputed interest 4,351 5,289 Total operating lease liabilities (b) $ 48,680 $ 52,954 _________________________________ (a) As of December 31, 2021, future minimum lease payments are for the period from January 1, 2022 to June 30, 2022. (b) As of December 31, 2021, total operating lease liabilities included $10.3 million within other current liabilities in the Condensed Consolidated Balance Sheets.

SEGMENTS (Tables)

SEGMENTS (Tables)	6 Months Ended
	Dec. 31, 2021
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, 2021 2020 2021 2020 Net revenue: Segment net revenue Supply Chain Services Net administrative fees $ 150,403 $ 145,339 $ 299,865 $ 277,984 Other services and support 9,326 4,086 18,251 9,677 Services 159,729 149,425 318,116 287,661 Products 111,766 179,670 230,196 295,085 Total Supply Chain Services (a) 271,495 329,095 548,312 582,746 Performance Services (a) 107,729 93,732 196,059 186,968 Total segment net revenue 379,224 422,827 744,371 769,714 Eliminations (a) (9) — (9) — Net revenue $ 379,215 $ 422,827 $ 744,362 $ 769,714 _________________________________ (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, 2021 2020 2021 2020 Depreciation and amortization expense (a) : Supply Chain Services $ 13,452 $ 9,417 $ 26,596 $ 18,219 Performance Services 16,076 17,810 32,186 37,567 Corporate 2,192 2,126 4,423 4,245 Total depreciation and amortization expense $ 31,720 $ 29,353 $ 63,205 $ 60,031 Capital expenditures: Supply Chain Services $ 7,315 $ 2,699 $ 15,472 $ 5,575 Performance Services 12,363 16,912 23,386 35,283 Corporate 1,932 271 3,802 4,006 Total capital expenditures $ 21,610 $ 19,882 $ 42,660 $ 44,864 December 31, 2021 June 30, 2021 Total assets: Supply Chain Services $ 1,475,941 $ 1,550,300 Performance Services 1,034,427 1,043,608 Corporate 941,097 928,939 Total assets 3,451,465 3,522,847 Eliminations (b) (3) 51 Total assets, net $ 3,451,462 $ 3,522,898 _________________________________ (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 unaudited Segment Adjusted EBITDA, a Non-GAAP financial measure, is as follows (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2021 2020 2021 2020 Income before income taxes $ 83,599 $ 61,561 $ 223,938 $ 124,108 Equity in net income of unconsolidated affiliates (a) (6,116) (4,572) (13,174) (10,499) Interest and investment loss, net 2,873 3,398 5,661 5,517 Loss (gain) on FFF Put and Call Rights (b) — 14,507 (64,110) 16,426 Other (income) expense (2,392) (4,890) (2,072) (8,573) Operating income 77,964 70,004 150,243 126,979 Depreciation and amortization 20,870 19,093 41,466 36,567 Amortization of purchased intangible assets 10,850 10,260 21,739 23,464 Stock-based compensation (c) 16,330 7,415 24,081 14,790 Acquisition and disposition related expenses 3,746 7,918 7,167 10,763 Equity in net income of unconsolidated affiliates (a) 6,116 4,572 13,174 10,499 Deferred compensation plan income (d) 2,389 4,803 2,071 7,710 Other expense, net 3,751 753 3,778 4,789 Non-GAAP Adjusted EBITDA $ 142,016 $ 124,818 $ 263,719 $ 235,561 Segment Non-GAAP Adjusted EBITDA: Supply Chain Services (e) $ 134,280 $ 118,939 $ 263,549 $ 221,590 Performance Services (e) 39,010 36,609 62,725 73,724 Corporate (31,274) (30,730) (62,555) (59,753) Non-GAAP Adjusted EBITDA $ 142,016 $ 124,818 $ 263,719 $ 235,561 _________________________________ (a) Refer to Note 4 - Investments for more information. (b) Refer to Note 5 - Fair Value Measurements for more information. (c) Includes non-cash employee stock-based compensation expense and stock purchase plan expense of $0.1 million for both the three months ended December 31, 2021 and 2020 and $0.3 million and $0.2 million for the six months ended December 31, 2021 and 2020, respectively. (d) Represents realized and unrealized gains and losses and dividend income on deferred compensation plan assets. (e) Includes intersegment revenue which is eliminated in consolidation.

ORGANIZATION - Narrative (Detai

ORGANIZATION - Narrative (Details)	6 Months Ended
	Dec. 31, 2021health_systemsegment	Dec. 01, 2021
Segment Reporting Information [Line Items]
Number of business segments | segment	2
Premier LP | Premier, Inc.
Segment Reporting Information [Line Items]
Subsidiary reorganization, equity interest distribution, percentage		99.00%
Premier LP | Premier Services II, LLC
Segment Reporting Information [Line Items]
Subsidiary reorganization, equity interest distribution, percentage		1.00%
Premier Services II, LLC | Premier, Inc.
Segment Reporting Information [Line Items]
Subsidiary reorganization, equity interest distribution, percentage		1.00%
Performance Services
Segment Reporting Information [Line Items]
Number of sub-brands | health_system	3

ORGANIZATION - Supplementary Ca

ORGANIZATION - Supplementary Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Supplementary non-cash investing and financing activities:
Increase in treasury stock related to a payable as a result of applying trade date accounting when recording the repurchase of Class A common stock		$ 2,108	$ 0
Non-cash additions to property and equipment		8	0
Accrued dividend equivalents		244	363
Increase in redeemable limited partners' capital for adjustment to fair value, with offsetting decrease in stockholders' equity		0	26,685
Decrease in redeemable limited partners' capital, with offsetting increase in stockholders' equity related to quarterly exchanges by member owners		0	(2,437)
Net increase in deferred tax assets related to departures and quarterly exchanges by member owners and other adjustments		0	331
Net increase in deferred tax assets related to final exchange by member owners		0	284,852
Reclassification of redeemable limited partners' capital to additional paid in capital	$ 1,754,607	0	1,754,607
Decrease in additional paid-in capital related to notes payable to former limited partners, net of discounts	438,967	0	438,967
Net increase in additional paid-in capital related to departures and quarterly exchanges by member owners and other adjustments		0	37,319
Increase in additional paid-in capital related to final exchange by member owners	$ 517,526	$ 0	$ 517,526

BUSINESS ACQUISITIONS (Details)

BUSINESS ACQUISITIONS (Details) - USD ($) $ in Thousands	Mar. 01, 2021	Dec. 31, 2021	Jun. 30, 2021
Business Acquisition [Line Items]
Goodwill		$ 999,913	$ 999,913
Invoice Delivery Services, LP Assets
Business Acquisition [Line Items]
Aggregate amount to be paid	$ 80,700
Credit facility borrowings used to pay for the acquisition	80,000
Fair value of intangible assets acquired	22,400
Goodwill	$ 57,700

INVESTMENTS - Schedule of Inves

INVESTMENTS - Schedule of Investments in Unconsolidated Affiliates (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 192,398		$ 192,398		$ 153,224
Equity in Net Income	6,116	$ 4,572	13,174	$ 10,499
FFF
Schedule of Equity Method Investments [Line Items]
Carrying Value	129,947		129,947		120,548
Equity in Net Income	3,454	3,007	9,399	7,581
Exela
Schedule of Equity Method Investments [Line Items]
Carrying Value	27,003		27,003		0
Equity in Net Income	1,003	0	1,003	0
Prestige
Schedule of Equity Method Investments [Line Items]
Carrying Value	16,815		16,815		14,478
Equity in Net Income	1,579	1,594	2,337	2,646
Other investments
Schedule of Equity Method Investments [Line Items]
Carrying Value	18,633		18,633		$ 18,198
Equity in Net Income	$ 80	$ (29)	$ 435	$ 272

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) $ in Thousands	Jul. 29, 2021USD ($)	Dec. 31, 2021USD ($)health_system	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)health_system	Dec. 31, 2020USD ($)	Jun. 30, 2021
Schedule of Equity Method Investments [Line Items]
(Loss) gain on FFF Put and Call Rights | $		$ 0	$ (14,507)	$ 64,110	$ (16,426)
ExPre Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)		15.00%		15.00%
Number of health systems with ownership interest | health_system		11		11
PRAM Holdings, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)		26.00%		26.00%
Number of health systems with ownership interest | health_system		16		16
PSCI | FFF
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)		49.00%		49.00%		49.00%
(Loss) gain on FFF Put and Call Rights | $	$ 64,100
ExPre Holdings, LLC | Exela
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)		6.00%		6.00%
PRAM Holdings, LLC | Prestige
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)		20.00%		20.00%

FAIR VALUE MEASUREMENTS - Sched

FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Liabilities (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021
Assets
Cash equivalents	$ 75	$ 75
Deferred compensation plan assets	63,395	65,051
Total assets	63,470	65,126
Liabilities
Earn-out liabilities	24,139	24,249
FFF put right		64,110
Total liabilities	24,139	88,359
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Cash equivalents	75	75
Deferred compensation plan assets	63,395	65,051
Total assets	63,470	65,126
Liabilities
Earn-out liabilities	0	0
FFF put right		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
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	24,139	24,249
FFF put right		64,110
Total liabilities	$ 24,139	$ 88,359

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details)	6 Months Ended
	Dec. 31, 2021USD ($)	Jun. 30, 2021USD ($)	Aug. 11, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assumed market interest rate (percent)	1.60%	1.60%
Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liabilities	$ 24,100,000	$ 24,200,000
Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”) | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liabilities	$ 0	$ 30,000,000
Annual FFF EBITDA growth rate | Valuation Technique, Equity Value per Share Calculation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FFF Put Rights input assumptions (in years)	6 years	6 years
Annual revenue growth rate | Valuation Technique, Equity Value per Share Calculation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FFF Put Rights input assumptions (in years)	6 years	6 years
Credit spread | Valuation Technique, Estimated Future Earnings | Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out input assumptions (percent)	0.009	0.009
FFF Call Right
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Call right, exercisable term, key event (in days)	180 days
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
FFF call right	$ 0	$ 0
Earn-out liabilities	24,139,000	24,249,000
Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of deferred compensation plan assets	6,200,000	5,500,000
Earn-out liabilities	0	0
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	100,000	100,000
Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out liabilities	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value Measurement Input Assumptions (Details)	Dec. 31, 2021	Jun. 30, 2021
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
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
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
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)	0.008	0.008
Valuation Technique, Estimated Future Earnings | Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”) | 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
Valuation Technique, Estimated Future Earnings | Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”) | 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
Valuation Technique, Estimated Future Earnings | Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”) | 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
Valuation Technique, Estimated Future Earnings | Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”) | Probability of transferred member renewal percentage greater than 80%
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out input assumptions (percent)	0.600	0.600
Valuation Technique, Estimated Future Earnings | Acurity, Inc. (“Acurity”) and Nexera, Inc. (“Nexera”) | Credit spread
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Earn-out input assumptions (percent)	0.009	0.009
Minimum | Valuation Technique, Equity Value per Share Calculation | Annual FFF EBITDA growth rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions for FFF Put Rights (percent)		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
Maximum | Valuation Technique, Equity Value per Share Calculation | Annual FFF EBITDA growth rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value assumptions for FFF Put Rights (percent)		0.108
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

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, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 24,368	$ 61,694	$ 88,359	$ 69,909
Purchases (Settlements)	0	(4,660)	(64,110)	(13,733)
(Gain) Loss	(229)	18,850	(110)	19,708
Ending Balance	$ 24,139	$ 75,884	$ 24,139	$ 75,884
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Nonoperating Income (Expense)	Nonoperating Income (Expense)	Nonoperating Income (Expense)	Nonoperating Income (Expense)
Earn-out liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 24,368	$ 23,017	$ 24,249	$ 33,151
Purchases (Settlements)	0	(4,660)	0	(13,733)
(Gain) Loss	(229)	4,343	(110)	3,282
Ending Balance	24,139	22,700	24,139	22,700
FFF put right
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance		38,677	64,110	36,758
Purchases (Settlements)		0	(64,110)	0
(Gain) Loss		14,507	0	16,426
Ending Balance	$ 0	$ 53,184	$ 0	$ 53,184

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, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue recognized from performance obligations satisfied in previous periods	$ 8.1		$ 3.7
Revenue recognized associated with a change in net administration fee revenue		$ (1.8)		$ (0.7)
Revenue recognized		3.1	13	(3.2)
Revenue recognized associated with revised forecasts underlying contracts with variable consideration components	0.8		0.6
Net administrative fees
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue recognized associated with a change in net administration fee revenue	$ 7.3		$ 3.1
Revenue recognized associated with revised forecasts underlying contracts with variable consideration components		$ 4.9		$ (2.5)

CONTRACT BALANCES - Remaining P

CONTRACT BALANCES - Remaining Performance Obligation (Details) $ in Millions	Dec. 31, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Transaction price allocated to remaining performance obligation	$ 654.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Transaction price allocated to remaining performance obligation	$ 654.1
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)	44.00%
Remaining performance obligation satisfaction period (in months)	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation to be satisfied (percent)	26.00%
Remaining performance obligation satisfaction period (in months)	12 months

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021
Goodwill [Line Items]
Goodwill	$ 999,913		$ 999,913		$ 999,913
Intangible asset amortization	10,850	$ 10,260	21,739	$ 23,464
Supply Chain Services
Goodwill [Line Items]
Goodwill	$ 388,500		$ 388,500
Performance Services
Goodwill [Line Items]
Goodwill					$ 611,400

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2021	Jun. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 686,554	$ 686,554
Accumulated amortization	(311,650)	(289,912)
Total intangible assets, net	374,904	396,642
Other
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible asset	$ 1,000
Member relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life	14 years 8 months 12 days
Total intangible assets	$ 386,100	386,100
Technology
Finite-Lived Intangible Assets [Line Items]
Useful Life	6 years 1 month 6 days
Total intangible assets	$ 186,017	186,017
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life	9 years 7 months 6 days
Total intangible assets	$ 70,830	70,830
Trade names
Finite-Lived Intangible Assets [Line Items]
Useful Life	7 years 4 months 24 days
Total intangible assets	$ 24,610	24,610
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Useful Life	5 years 3 months 18 days
Total intangible assets	$ 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

DEBT AND NOTES PAYABLE - Schedu

DEBT AND NOTES PAYABLE - Schedule of Long-Term Debt and Notes Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021
Debt Instrument [Line Items]
Total debt and notes payable	$ 477,951	$ 478,571
Less: current portion	(224,882)	(174,243)
Total long-term debt and notes payable	253,069	304,328
Credit facility
Debt Instrument [Line Items]
Total debt and notes payable	125,000	75,000
Notes Payable | Notes payable to members, net of discount
Debt Instrument [Line Items]
Total debt and notes payable	347,201	394,943
Notes Payable | Other notes payable
Debt Instrument [Line Items]
Total debt and notes payable	$ 5,750	$ 8,628

DEBT AND NOTES PAYABLE - Credit

DEBT AND NOTES PAYABLE - Credit Facility (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021
Line of Credit Facility [Line Items]
Outstanding borrowings	$ 477,951		$ 478,571
Proceeds from credit facility	175,000	$ 125,000
Payments on credit facility	$ 125,000	$ 100,000
Credit facility
Line of Credit Facility [Line Items]
Interest rate (percent)	1.11%
Credit facility, unused capacity commitment fee (percent)	0.10%
Indebtedness or guarantee threshold	$ 75,000
Outstanding borrowings	125,000
Available borrowing capacity	874,900
Proceeds from credit facility	175,000
Payments on credit facility	$ 125,000
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%

DEBT AND NOTES PAYABLE - Notes

DEBT AND NOTES PAYABLE - Notes Payable (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Aug. 11, 2020
Debt Instrument [Line Items]
Payments on credit facility	$ 125,000	$ 100,000
Credit facility
Debt Instrument [Line Items]
Payments on credit facility	$ 125,000
Level 2
Debt Instrument [Line Items]
Imputed interest (percent)				1.80%
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
Notes payable to members, net of discount | Notes Payable
Debt Instrument [Line Items]
Notes payable	$ 347,200		$ 394,900
Imputed interest	(12,200)		(15,800)
Notes payable included in current portion of long-term debt	96,900		95,900
Other notes payable | Notes Payable
Debt Instrument [Line Items]
Notes payable	5,800		8,600
Notes payable included in current portion of long-term debt	$ 3,000		$ 3,300

REDEEMABLE LIMITED PARTNERS' _3

REDEEMABLE LIMITED PARTNERS' CAPITAL - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Temporary Equity [Line Items]
Adjustment of redeemable limited partners' capital to redemption amount	$ 0	$ 0		$ 0	$ (26,685)
Limited Partner
Temporary Equity [Line Items]
Adjustment of redeemable limited partners’ capital to redemption amount	$ 0	$ 0	$ 0	$ 0	$ 26,685

REDEEMABLE LIMITED PARTNERS' _4

REDEEMABLE LIMITED PARTNERS' CAPITAL - Changes in Redeemable Limited Partners' Capital (Details) - USD ($) $ in Thousands	3 Months Ended			5 Months Ended	6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Increase (Decrease) in Temporary Equity
Exchange of Class B common units for Class A common stock by member owners			$ (2,437)
Limited Partner
Increase (Decrease) in Temporary Equity
Redeemable limited partners' capital, beginning balance			1,720,309			$ 1,720,309
Distributions applied to receivables from limited partners						141
Net income attributable to non-controlling interest in Premier LP						11,845
Distributions to limited partners						(1,936)
Exchange of Class B common units for Class A common stock by member owners						(2,437)
Adjustment of redeemable limited partners’ capital to redemption amount	$ 0	$ 0		$ 0	$ 0	26,685
Reclassification to permanent equity						(1,754,607)
Redeemable limited partners' capital, ending balance		0		0		0
Limited Partner | Receivables From Limited Partners
Increase (Decrease) in Temporary Equity
Redeemable limited partners' capital, beginning balance			(995)			(995)
Distributions applied to receivables from limited partners						141
Reclassification to permanent equity						854
Redeemable limited partners' capital, ending balance		0		0		0
Limited Partner | Redeemable Limited Partners' Capital
Increase (Decrease) in Temporary Equity
Redeemable limited partners' capital, beginning balance			$ 1,721,304			1,721,304
Net income attributable to non-controlling interest in Premier LP						11,845
Distributions to limited partners						(1,936)
Exchange of Class B common units for Class A common stock by member owners						(2,437)
Adjustment of redeemable limited partners’ capital to redemption amount						26,685
Reclassification to permanent equity						(1,755,461)
Redeemable limited partners' capital, ending balance		$ 0		$ 0		$ 0

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 20, 2022	Oct. 21, 2021	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Aug. 05, 2021	Jun. 30, 2021
Class of Stock [Line Items]
Stock repurchase, average price (in dollars per share					$ 39.37
Stock repurchase, total purchase price			$ 133,396	$ 42,628	$ 176,000
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)			119,935,420		119,935,420	119,935,420			122,533,051
Common stock, par value (in dollars per share)			$ 0.01		$ 0.01	$ 0.01			$ 0.01
Stock repurchase, authorized amount								$ 250,000
Stock repurchased during period (in shares)					4,500,000
Per share amount of dividends (in dollars per share)						$ 0.20	$ 0.19
Dividends declared (in dollars per share		$ 0.20
Class A Common Stock | Subsequent Event
Class of Stock [Line Items]
Dividends declared (in dollars per share	$ 0.20

EARNINGS PER SHARE - Reconcilia

EARNINGS PER SHARE - Reconciliation of the Numerator and Denominator Used for Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				5 Months Ended	6 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Numerator for basic earnings per share:
Net income attributable to stockholders	$ 75,545		$ 43,969			$ 197,549	$ 162,967
Numerator for diluted earnings per share:
Net income attributable to stockholders	75,545		43,969			197,549	162,967
Net income attributable to non-controlling interest	0		0			989	0
Net income for diluted earnings per share	$ 75,545		$ 43,969			$ 198,538	$ 162,967
Denominator for earnings per share:
Basic weighted average shares outstanding (in shares)	121,181		122,127			122,063	110,851
Effect of dilutive securities:
Diluted weighted average shares and assumed conversions (in shares)	122,473		122,919			123,523	111,573
Earnings per share attributable to stockholders:
Basic earnings per share attributable to stockholders (in dollars per share)	$ 0.62		$ 0.36			$ 1.62	$ 1.47
Diluted earnings per share attributable to stockholders (in dollars per share)	$ 0.62		$ 0.36			$ 1.61	$ 1.46
Net income	$ 77,232	$ 121,306	$ 44,904	$ 157,528		$ 198,538	$ 202,432
Net income attributable to non-controlling interest	(1,687)		(935)			(989)	(12,780)
Net income attributable to stockholders	$ 75,545		$ 43,969			$ 197,549	$ 162,967
Common Class B Unit
Earnings per share attributable to stockholders:
Antidilutive securities excluded from computation of earnings per share (in shares)							11,200
Stock options
Effect of dilutive securities:
Effect of dilutive securities (in shares)	267		321			288	287
Earnings per share attributable to stockholders:
Antidilutive securities excluded from computation of earnings per share (in shares)			400				1,100
Restricted Stock
Effect of dilutive securities:
Effect of dilutive securities (in shares)	540		333			516	318
Earnings per share attributable to stockholders:
Antidilutive securities excluded from computation of earnings per share (in shares)						300
Performance share awards
Effect of dilutive securities:
Effect of dilutive securities (in shares)	485		138			656	117
Earnings per share attributable to stockholders:
Antidilutive securities excluded from computation of earnings per share (in shares)	200		600			400
Limited Partner
Earnings per share attributable to stockholders:
Adjustment of redeemable limited partners’ capital to redemption amount	$ 0		$ 0		$ 0	$ 0	$ (26,685)

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - shares shares in Millions	6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected effective income tax rate (percent)	26.00%	26.00%
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
Number of shares available for grant (shares)	4.6
Performance share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Stock options | 2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Award term (in years)	10 years
Options, expiration period (in months)	12 months
Employee | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Director | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	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, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Pre-tax stock-based compensation expense	$ 16,234	$ 7,316	$ 23,788	$ 14,545
Deferred tax benefit	3,650	1,011	4,725	2,120
Share-based Payment Arrangement, Expense, after Tax	12,584	$ 6,305	19,063	$ 12,425
Stock-based compensation expense not deductible for tax purposes	$ 800		$ 1,500

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, 2021$ / sharesshares
Restricted Stock
Number of Awards
Outstanding, beginning balance (in shares) | shares	990,301
Granted (in shares) | shares	617,505
Vested/exercised (in shares) | shares	(281,142)
Forfeited (in shares) | shares	(117,122)
Outstanding, ending balance (in shares) | shares	1,209,542
Weighted Average Fair Value at Grant Date
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 35.27
Granted (in dollars per share) | $ / shares	37.79
Vested/exercised (in dollars per share) | $ / shares	40.41
Forfeited (in dollars per share) | $ / shares	33.57
Outstanding, ending balance (in dollars per share) | $ / shares	$ 35.53
Performance Share Awards
Number of Awards
Outstanding, beginning balance (in shares) | shares	1,731,002
Granted (in shares) | shares	651,392
Vested/exercised (in shares) | shares	(588,142)
Forfeited (in shares) | shares	(168,127)
Outstanding, ending balance (in shares) | shares	1,626,125
Weighted Average Fair Value at Grant Date
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 35.56
Granted (in dollars per share) | $ / shares	37.18
Vested/exercised (in dollars per share) | $ / shares	43.74
Forfeited (in dollars per share) | $ / shares	31.87
Outstanding, ending balance (in dollars per share) | $ / shares	$ 33.63
Stock options
Number of Options
Outstanding, beginning balance (in shares) | shares	2,163,006
Granted (in shares) | shares	0
Vested/exercised (in shares) | shares	(1,236,015)
Forfeited (in shares) | shares	(12,025)
Outstanding, ending balance (in shares) | shares	914,966
Stock options outstanding and exercisable (in shares) | shares	914,966
Weighted Average Exercise Price
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 30.32
Granted (in dollars per share) | $ / shares	0
Vested/exercised (in dollars per share) | $ / shares	30.17
Forfeited (in dollars per share) | $ / shares	36.54
Outstanding, ending balance (in dollars per share) | $ / shares	30.45
Stock options outstanding and exercisable (in dollars per share) | $ / shares	$ 30.45

STOCK-BASED COMPENSATION - Sc_3

STOCK-BASED COMPENSATION - Schedule of Unrecognized Stock-Based Compensation Expense (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2021USD ($)
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 0
2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 58,086
Weighted Average Amortization Period	2 years 1 month 6 days
2013 Equity Incentive Plan | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 28,795
Weighted Average Amortization Period	2 years 2 months 12 days
2013 Equity Incentive Plan | Performance share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 29,291
Weighted Average Amortization Period	1 year 10 months 24 days

STOCK-BASED COMPENSATION - Sc_4

STOCK-BASED COMPENSATION - Schedule of Aggregate Intrinsic Value of Stock Options (Details) - 2013 Equity Incentive Plan $ in Thousands	6 Months Ended
	Dec. 31, 2021USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding and exercisable	$ 9,810
Exercised during the year ended December 31, 2021	$ 9,697

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2022
Income Tax Contingency [Line Items]
Income tax expense (benefit)	$ 6,367	$ 16,657	$ 25,400	$ (78,324)
Effective tax rate (percent)	8.00%	27.00%	11.00%	(63.00%)
Effective ta rate after excluding effect of one-time deferred tax benefit (percent)				24.00%
Tax credit carryforward, valuation allowance			$ 25,900
Forecast
Income Tax Contingency [Line Items]
Deferred tax asset valuation allowance					$ 32,300
Income tax benefit					$ 6,400

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating lease expense	$ 2,500	$ 2,700	$ 5,100	$ 5,600
Weighted average remaining lease term (in years)	4 years 3 months 18 days		4 years 3 months 18 days
Weighted average discount rate (percent)	4.00%		4.00%
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remainder of the year	$ 6,003		$ 6,003
Year one	12,131		12,131		$ 11,738
Year two	12,267		12,267		12,012
Year three	12,301		12,301		12,145
Year four	9,005		9,005		12,177
Year five					8,878
Thereafter	1,324		1,324
Thereafter					1,293
Total future minimum lease payments	53,031		53,031		58,243
Less: imputed interest	4,351		4,351		5,289
Total operating lease liabilities	$ 48,680		$ 48,680		$ 52,954
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities		Other current liabilities
Operating lease liability included in other liabilities, current	$ 10,300		$ 10,300

SEGMENTS - Narrative (Details)

SEGMENTS - Narrative (Details)	6 Months Ended
	Dec. 31, 2021segment
Segment Reporting [Abstract]
Number of reportable business segments	2

SEGMENTS - Schedule of Segment

SEGMENTS - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021
Segment Reporting Information [Line Items]
Net revenue	$ 379,215	$ 422,827	$ 744,362	$ 769,714
Total depreciation and amortization expense	31,720	29,353	63,205	60,031
Total capital expenditures	21,610	19,882	42,660	44,864
Total assets	3,451,462		3,451,462		$ 3,522,898
Operating Segments
Segment Reporting Information [Line Items]
Net revenue	379,224	422,827	744,371	769,714
Eliminations
Segment Reporting Information [Line Items]
Net revenue	(9)	0	(9)	0
Corporate
Segment Reporting Information [Line Items]
Total depreciation and amortization expense	2,192	2,126	4,423	4,245
Total capital expenditures	1,932	271	3,802	4,006
Total assets	941,097		941,097		928,939
Eliminations
Segment Reporting Information [Line Items]
Total assets	(3)		(3)		51
Supply Chain Services | Operating Segments
Segment Reporting Information [Line Items]
Net revenue	271,495	329,095	548,312	582,746
Total depreciation and amortization expense	13,452	9,417	26,596	18,219
Total capital expenditures	7,315	2,699	15,472	5,575
Total assets	1,475,941		1,475,941		1,550,300
Performance Services | Operating Segments
Segment Reporting Information [Line Items]
Net revenue	107,729	93,732	196,059	186,968
Total depreciation and amortization expense	16,076	17,810	32,186	37,567
Total capital expenditures	12,363	16,912	23,386	35,283
Total assets	1,034,427		1,034,427		1,043,608
Operating Segments and Corporate Non-Segment
Segment Reporting Information [Line Items]
Total assets	3,451,465		3,451,465		$ 3,522,847
Net administrative fees
Segment Reporting Information [Line Items]
Net revenue	150,403	145,339	299,865	277,984
Net administrative fees | Supply Chain Services | Operating Segments
Segment Reporting Information [Line Items]
Net revenue	150,403	145,339	299,865	277,984
Other services and support
Segment Reporting Information [Line Items]
Net revenue	117,046	97,818	214,301	196,645
Other services and support | Supply Chain Services | Operating Segments
Segment Reporting Information [Line Items]
Net revenue	9,326	4,086	18,251	9,677
Services
Segment Reporting Information [Line Items]
Net revenue	267,449	243,157	514,166	474,629
Services | Supply Chain Services | Operating Segments
Segment Reporting Information [Line Items]
Net revenue	159,729	149,425	318,116	287,661
Products
Segment Reporting Information [Line Items]
Net revenue	111,766	179,670	230,196	295,085
Products | Supply Chain Services | Operating Segments
Segment Reporting Information [Line Items]
Net revenue	$ 111,766	$ 179,670	$ 230,196	$ 295,085

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, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Income before income taxes	$ 83,599	$ 61,561	$ 223,938	$ 124,108
Equity in net income of unconsolidated affiliates	(6,116)	(4,572)	(13,174)	(10,499)
Interest and investment loss, net	2,873	3,398	5,661	5,517
Loss (gain) on FFF Put and Call Rights	0	14,507	(64,110)	16,426
Other (income) expense	(2,392)	(4,890)	(2,072)	(8,573)
Operating income	77,964	70,004	150,243	126,979
Depreciation and amortization	20,870	19,093	41,466	36,567
Amortization of purchased intangible assets	10,850	10,260	21,739	23,464
Stock-based compensation	16,330	7,415	24,081	14,790
Acquisition and disposition related expenses	3,746	7,918	7,167	10,763
Equity in net income of unconsolidated affiliates	6,116	4,572	13,174	10,499
Deferred compensation plan income	2,389	4,803	2,071	7,710
Other expense, net	3,751	753	3,778	4,789
Non-GAAP Adjusted EBITDA	142,016	124,818	263,719	235,561
Employee Stock Purchase Plan (ESPP)
Segment Reporting Information [Line Items]
Stock-based compensation	100	100	300	200
Operating Segments | Supply Chain Services
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	134,280	118,939	263,549	221,590
Operating Segments | Performance Services
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	39,010	36,609	62,725	73,724
Corporate
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	$ (31,274)	$ (30,730)	$ (62,555)	$ (59,753)