Premier (PINC) 10-Q 3 May 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2022	Apr. 28, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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		117,986,674
Entity Central Index Key	0001577916
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Jun. 30, 2021
Assets
Cash and cash equivalents	$ 179,503	$ 129,141
Accounts receivable (net of $852 and $1,174 allowance for credit losses, respectively)	125,632	142,557
Contract assets (net of $1,251 and $1,110 allowance for credit losses, respectively)	255,693	266,173
Inventory	130,275	176,376
Prepaid expenses and other current assets	64,897	68,049
Total current assets	756,000	782,296
Property and equipment (net of $574,185 and $518,332 accumulated depreciation, respectively)	222,583	224,271
Intangible assets (net of $322,802 and $289,912 accumulated amortization, respectively)	373,752	396,642
Goodwill	999,913	999,913
Deferred income tax assets	744,899	781,824
Deferred compensation plan assets	53,914	59,581
Investments in unconsolidated affiliates	209,205	153,224
Operating lease right-of-use assets	41,764	48,199
Other assets	113,429	76,948
Total assets	3,515,459	3,522,898
Liabilities and stockholders' equity
Accounts payable	53,720	85,413
Accrued expenses	58,129	48,144
Revenue share obligations	240,152	226,883
Accrued compensation and benefits	79,621	100,713
Deferred revenue	33,755	34,058
Current portion of notes payable to former limited partners	97,342	95,948
Line of credit and current portion of long-term debt	253,053	78,295
Other current liabilities	47,403	47,330
Total current liabilities	863,175	716,784
Long-term debt, less current portion	2,280	5,333
Notes payable to former limited partners, less current portion	225,814	298,995
Deferred compensation plan obligations	53,914	59,581
Deferred consideration, less current portion	57,762	56,809
Operating lease liabilities, less current portion	35,678	43,102
Other liabilities	43,234	112,401
Total liabilities	1,281,857	1,293,005
Commitments and contingencies
Stockholders' equity:
Treasury stock, at cost; 6,429,375 and 0 shares at March 31, 2022 and June 30, 2021, respectively	(250,129)	0
Additional paid-in capital	2,150,313	2,059,194
Retained earnings	332,171	169,474
Accumulated other comprehensive income	3	0
Total stockholders' equity	2,233,602	2,229,893
Total liabilities and stockholders' equity	3,515,459	3,522,898
Class A Common Stock
Stockholders' equity:
Class A common stock, $0.01 par value, 500,000,000 shares authorized; 124,415,319 shares issued and 117,985,944 shares outstanding at March 31, 2022 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	Mar. 31, 2022	Jun. 30, 2021
Allowance for doubtful accounts	$ 852	$ 1,174
Allowance for credit losses	1,251	1,110
Accumulated depreciation	574,185	518,332
Accumulated amortization	$ 322,802	$ 289,912
Treasury stock, shares (in shares)	6,429,375	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)	124,415,319	122,533,051
Common stock, shares outstanding (in shares)	117,985,944	122,533,051

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Net revenue:
Net revenue	$ 347,833	$ 469,923	$ 1,092,195	$ 1,239,637
Cost of revenue:
Cost of revenue	135,356	258,116	431,242	622,138
Gross profit	212,477	211,807	660,953	617,499
Operating expenses:
Selling, general and administrative	143,676	134,502	418,330	388,453
Research and development	826	715	2,666	2,013
Amortization of purchased intangible assets	11,151	10,400	32,890	33,864
Operating expenses	155,653	145,617	453,886	424,330
Operating income	56,824	66,190	207,067	193,169
Equity in net income of unconsolidated affiliates	3,991	5,524	17,165	16,023
Interest expense, net	(2,804)	(3,225)	(8,465)	(8,742)
(Loss) gain on FFF Put and Call Rights	0	(5,195)	64,110	(21,621)
Other (expense) income, net	(4,248)	1,594	(2,176)	10,167
Other (expense) income, net	(3,061)	(1,302)	70,634	(4,173)
Income before income taxes	53,763	64,888	277,701	188,996
Income tax expense (benefit)	14,694	13,444	40,094	(64,880)
Net income	39,069	51,444	237,607	253,876
Net income attributable to non-controlling interest	(654)	(3,123)	(1,643)	(15,903)
Adjustment of redeemable limited partners' capital to redemption amount	0	0	0	(26,685)
Net income attributable to stockholders	38,415	48,321	235,964	211,288
Comprehensive income:
Net income	39,069	51,444	237,607	253,876
Comprehensive income attributable to non-controlling interest	(654)	(3,123)	(1,643)	(15,903)
Foreign currency translation gain	4	0	3	0
Comprehensive income attributable to stockholders	$ 38,419	$ 48,321	$ 235,967	$ 237,973
Weighted average shares outstanding:
Basic (in shares)	118,697	122,254	120,957	114,596
Diluted (in shares)	119,813	123,116	122,302	115,365
Earnings per share attributable to stockholders:
Basic (in dollars per share)	$ 0.32	$ 0.40	$ 1.95	$ 1.84
Diluted (in dollars per share)	$ 0.32	$ 0.39	$ 1.94	$ 1.83
Services
Net revenue:
Net revenue	$ 254,204	$ 253,928	$ 768,370	$ 728,557
Cost of revenue:
Cost of revenue	46,735	46,980	136,326	125,852
Net administrative fees
Net revenue:
Net revenue	148,396	146,553	448,261	424,537
Other services and support
Net revenue:
Net revenue	105,808	107,375	320,109	304,020
Products
Net revenue:
Net revenue	93,629	215,995	323,825	511,080
Cost of revenue:
Cost of revenue	$ 88,621	$ 211,136	$ 294,916	$ 496,286

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	Additional Paid-In Capital	Additional Paid-In CapitalAdjusted balance	Accumulated Other Comprehensive Income (Loss)	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
Beginning balance at Jun. 30, 2020	$ 139,263	$ (1,228)	$ 138,035	$ 716	$ 0	$ 716	$ 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
Ending balance at Sep. 30, 2020	2,111,424			$ 1,221	$ 0				2,012,047			98,156
Beginning balance (in shares) at Jun. 30, 2020				71,627	50,213	71,627	50,213
Beginning balance at Jun. 30, 2020	139,263	$ (1,228)	$ 138,035	$ 716	$ 0	$ 716	$ 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	253,876
Reclassification of redeemable limited partners' capital to permanent equity	1,754,607
Early termination payments to members	(438,967)
Ending balance (in shares) at Mar. 31, 2021				122,268	0
Ending balance at Mar. 31, 2021	2,191,410			$ 1,223	$ 0				2,046,836			143,351
Beginning balance (in shares) at Sep. 30, 2020				122,081	0
Beginning balance at Sep. 30, 2020	2,111,424			$ 1,221	$ 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)
Capital contributions	1,959								1,959
Non-controlling interest related to acquisition	3,690								3,690
Ending balance (in shares) at Dec. 31, 2020				122,228	0
Ending balance at Dec. 31, 2020	2,149,259			$ 1,222	$ 0				2,029,604			118,433
Increase (Decrease) in Stockholders' Equity
Issuance of Class A common stock under equity incentive plan (in shares)				40
Issuance of Class A common stock under equity incentive plan	1,102			$ 1					1,101
Stock-based compensation expense	13,056								13,056
Repurchase of vested restricted units for employee tax-withholding	(48)								(48)
Net income	51,444								0			51,444
Net (loss) income attributable to non-controlling interest	0								3,123			(3,123)
Dividends	(23,403)											(23,403)
Ending balance (in shares) at Mar. 31, 2021				122,268	0
Ending balance at Mar. 31, 2021	2,191,410			$ 1,223	$ 0				2,046,836			143,351
Beginning balance (in shares) at Jun. 30, 2021				122,533				0
Beginning balance at Jun. 30, 2021	2,229,893			$ 1,225				$ 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				(1,091)
Ending balance at Sep. 30, 2021	2,328,086			$ 1,238				$ (42,628)	2,102,875		0	266,601
Beginning balance (in shares) at Jun. 30, 2021				122,533				0
Beginning balance at Jun. 30, 2021	2,229,893			$ 1,225				$ 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	237,607
Reclassification of redeemable limited partners' capital to permanent equity	0
Early termination payments to members	0
Ending balance (in shares) at Mar. 31, 2022				117,986				6,429
Ending balance at Mar. 31, 2022	2,233,602			$ 1,244				$ (250,129)	2,150,313		3	332,171
Beginning balance (in shares) at Sep. 30, 2021				122,681				(1,091)
Beginning balance at Sep. 30, 2021	2,328,086			$ 1,238				$ (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)
Change in ownership of consolidated entity	12								12
Dividends	(24,250)											(24,250)
Foreign currency translation loss (gain)	(1)										(1)
Ending balance (in shares) at Dec. 31, 2021				119,935				(4,468)
Ending balance at Dec. 31, 2021	2,278,802			$ 1,244				$ (176,024)	2,135,687		(1)	317,896
Increase (Decrease) in Stockholders' Equity
Issuance of Class A common stock under equity incentive plan (in shares)				12
Issuance of Class A common stock under equity incentive plan	118								118
Treasury stock (in shares)				(1,961)				(1,961)
Treasury stock	(74,105)							$ (74,105)
Stock-based compensation expense	14,004								14,004
Repurchase of vested restricted units for employee tax-withholding	(174)								(174)
Net income	39,069											39,069
Net (loss) income attributable to non-controlling interest	0								654			(654)
Change in ownership of consolidated entity	24								24
Dividends	(24,140)											(24,140)
Foreign currency translation loss (gain)	4										4
Ending balance (in shares) at Mar. 31, 2022				117,986				6,429
Ending balance at Mar. 31, 2022	$ 2,233,602			$ 1,244				$ (250,129)	$ 2,150,313		$ 3	$ 332,171

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - Class A Common Stock - $ / shares	Mar. 15, 2022	Dec. 15, 2021	Sep. 15, 2021	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2020
Dividends declared (in dollars per share				$ 0.20	$ 0.20
Per share amount of dividends (in dollars per share)	$ 0.20	$ 0.20	$ 0.20			$ 0.19	$ 0.19

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating activities
Net income	$ 237,607	$ 253,876
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	95,764	89,768
Equity in net income of unconsolidated affiliates	(17,165)	(16,023)
Deferred income taxes	36,926	(100,150)
Stock-based compensation	37,792	27,601
(Gain) loss on FFF call/put rights	(64,110)	21,621
Other	4,578	537
Changes in operating assets and liabilities, net of the effects of acquisitions:
Accounts receivable, inventories, prepaid expenses and other assets	91,418	(181,263)
Contract assets	(39,139)	(43,733)
Accounts payable, accrued expenses, deferred revenue, revenue share obligations and other liabilities	(48,882)	140,131
Net cash provided by operating activities	334,789	192,365
Investing activities
Purchases of property and equipment	(61,061)	(66,911)
Acquisition of businesses and equity method investments, net of cash acquired	(26,000)	(81,152)
Investment in unconsolidated affiliates	(16,000)	0
Other	(10,000)	(1,228)
Net cash used in investing activities	(113,061)	(149,291)
Financing activities
Payments made on notes payable	(75,082)	(31,692)
Proceeds from credit facility	300,000	225,000
Payments on credit facility	(125,000)	(100,000)
Cash dividends paid	(72,861)	(69,647)
Repurchase of Class A common stock (held as treasury stock)	(250,129)	0
Proceeds from exercise of stock options	37,385	0
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)
Other	14,318	712
Net cash used in financing activities	(171,369)	(9,794)
Effect of exchange rate changes on cash flows	3	0
Net increase in cash and cash equivalents	50,362	33,280
Cash and cash equivalents at beginning of period	129,141	99,304
Cash and cash equivalents at end of period	$ 179,503	$ 132,584

ORGANIZATION

ORGANIZATION	9 Months Ended
	Mar. 31, 2022
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 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 and continues to expand its capabilities to more fully address and coordinate care improvement and standardization in the employer, payor and life sciences markets. The Company also provide 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 that allow employers to contract directly with healthcare providers; and Remitra TM , the Company’s digital invoicing and payables business which provides services to healthcare providers and their suppliers. 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 nine months ended March 31, 2022 and 2021 (in thousands): Nine Months Ended March 31, 2022 2021 Supplementary non-cash investing and financing activities: Non-cash additions to property and equipment $ 129 $ — Accrued dividend equivalents 738 513 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	9 Months Ended
	Mar. 31, 2022
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. Recently Issued Accounting Standards Not Yet Adopted In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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	9 Months Ended
	Mar. 31, 2022
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 purchase price allocation was finalized during the three months ended March 31, 2022. IDS has been 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	9 Months Ended
	Mar. 31, 2022
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 March 31, Nine Months Ended March 31, March 31, 2022 June 30, 2021 2022 2021 2022 2021 FFF $ 132,384 $ 120,548 $ 2,437 $ 806 $ 11,836 $ 8,387 Exela 27,504 — 501 — 1,504 — Prestige 14,566 14,478 935 4,436 3,272 7,082 Qventus 16,000 — — — — — Other investments 18,751 18,198 118 282 553 554 Total investments $ 209,205 $ 153,224 $ 3,991 $ 5,524 $ 17,165 $ 16,023 The Company, through its indirect, wholly owned subsidiary Premier Supply Chain Improvement, Inc. (“PSCI”), held a 49% interest in FFF Enterprises, Inc. (“FFF”) through its ownership of stock of FFF at March 31, 2022 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 March 31, 2022. At March 31, 2022, the Company owned 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 March 31, 2022. At March 31, 2022, the Company owned approximately 26% of the membership interest of PRAM, with the remainder of the membership interests held by 16 member health systems or their affiliates. The Company accounts for its investments in FFF, Exela and Prestige using the equity method of accounting and includes each investment as part of the Supply Chain Services segment.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Mar. 31, 2022
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 March 31, 2022 Cash equivalents $ 75 $ 75 $ — $ — Deferred compensation plan assets 59,803 59,803 — — Total assets 59,878 59,878 — — Earn-out liabilities 23,194 — — 23,194 Total liabilities $ 23,194 $ — $ — $ 23,194 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 ($5.9 million and $5.5 million at March 31, 2022 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 March 31, 2022 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 (expense) income, 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 is 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 1.1% at March 31, 2022 and 0.9% at June 30, 2021. As of March 31, 2022 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 March 31, 2022 and June 30, 2021 was $23.2 million and $24.2 million, respectively. Acurity and Nexera Earn-out (a) Input assumptions As of March 31, 2022 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 1.1 % 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 March 31, 2022 Earn-out liabilities $ 24,139 $ — $ (945) $ 23,194 Total Level 3 liabilities $ 24,139 $ — $ (945) $ 23,194 Three Months Ended March 31, 2021 Earn-out liabilities $ 22,700 $ — $ (1,254) $ 23,954 FFF put right 53,184 — (5,195) 58,379 Total Level 3 liabilities $ 75,884 $ — $ (6,449) $ 82,333 Nine Months Ended March 31, 2022 Earn-out liabilities $ 24,249 $ — $ (1,055) $ 23,194 FFF put right 64,110 (64,110) — — Total Level 3 liabilities $ 88,359 $ (64,110) $ (1,055) $ 23,194 Nine Months Ended March 31, 2021 Earn-out liabilities $ 33,151 $ (13,733) $ (4,536) $ 23,954 FFF put right 36,758 — (21,621) 58,379 Total Level 3 liabilities $ 69,909 $ (13,733) $ (26,157) $ 82,333 _________________________________ (a) Purchases (Settlements) for the nine months ended March 31, 2022 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 nine months ended March 31, 2021 includes the Medpricer earnout, which had been earned but not yet paid as of March 31, 2021, and the Stanson earnout, which was paid in full as of March 31, 2021. (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 nine months ended March 31, 2022, 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 nine months ended March 31, 2022, 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 March 31, 2022 and June 30, 2021 based on assumed market interest rates of 1.6% for both periods. Other Financial Instruments

CONTRACT BALANCES

CONTRACT BALANCES	9 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
CONTRACT BALANCES	(6) CONTRACT BALANCES Deferred Revenue Revenue recognized during the nine months ended March 31, 2022 that was included in the opening balance of deferred revenue at June 30, 2021 was $24.2 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. Refer to the Company’s significant accounting policies in the 2021 Annual Report for discussion of revenue recognition on contracts with customers. Net revenue of $5.7 million and $3.6 million was recognized during the three and nine months ended March 31, 2022, respectively, from performance obligations that were satisfied or partially satisfied in prior periods. The net revenue recognized was driven by an increase of $5.4 million and $3.3 million, respectively, in net administrative fees revenue related to under-forecasted cash receipts received in the current period. In addition, net revenue recognized in both periods was driven by an increase of $0.3 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. Net revenue of $8.5 million was recognized during the three months ended March 31, 2021 from performance obligations that were satisfied or partially satisfied in prior periods. The net revenue recognized was driven by a $11.4 million increase in net administrative fees revenue related to under-forecasted cash receipts received in the current period partially offset by a reduction of $2.9 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 $3.9 million was recognized during the nine months ended March 31, 2021 from performance obligations that were partially satisfied in prior periods. The decrease to net revenue recognized was driven by a $0.9 million decrease in net administrative fees revenue related to over-forecasted cash receipts received in the current period and a reduction of $3.0 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 March 31, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations was $614.0 million. The Company expects to recognize approximately 46% of the remaining performance obligations over the next 12 months and an additional 27% over the following 12 months, with the remainder recognized thereafter.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	(7) GOODWILL AND INTANGIBLE ASSETS Goodwill At March 31, 2022 and June 30, 2021, the Company 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 March 31, 2022 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 5.2 years 21,315 11,315 Other (a) 10.2 years 7,682 7,682 Total intangible assets 696,554 686,554 Accumulated amortization (322,802) (289,912) Total intangible assets, net $ 373,752 $ 396,642 _________________________________ (a) Includes a $1.0 million indefinite-lived asset. Intangible asset amortization was $32.9 million and $33.9 million for the nine months ended March 31, 2022 and 2021, respectively.

DEBT AND NOTES PAYABLE

DEBT AND NOTES PAYABLE	9 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
DEBT AND NOTES PAYABLE	(8) DEBT AND NOTES PAYABLE Long-term debt and notes payable consisted of the following (in thousands): March 31, 2022 June 30, 2021 Credit facility $ 250,000 $ 75,000 Notes payable to members, net of discount 323,156 394,943 Other notes payable 5,333 8,628 Total debt and notes payable 578,489 478,571 Less: current portion (350,395) (174,243) Total long-term debt and notes payable $ 228,094 $ 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 March 31, 2022, the weighted average interest rate on outstanding borrowings under the Credit Facility was 1.303% 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 March 31, 2022. 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 $250.0 million in outstanding borrowings under the Credit Facility at March 31, 2022 with $749.9 million of available borrowing capacity after reductions for outstanding borrowings and outstanding letters of credit. For the nine months ended March 31, 2022, the Company borrowed $300.0 million and repaid $125.0 million of outstanding borrowings under the Credit Facility. In April 2022, the Company repaid $75.0 million of outstanding borrowings under the Credit Facility. Notes Payable Notes Payable to Former Limited Partners At March 31, 2022, the Company had $323.2 million of notes payable to former LPs, net of discounts on notes payable of $10.6 million, of which $97.3 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 March 31, 2022 and June 30, 2021, the Company had $5.3 million and $8.6 million in other notes payable, respectively, of which $3.1 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	9 Months Ended
	Mar. 31, 2022
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 nine months ended March 31, 2022. For the nine months ended March 31, 2021, 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 March 31, 2021. 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	9 Months Ended
	Mar. 31, 2022
Equity [Abstract]
STOCKHOLDERS' EQUITY	(10) STOCKHOLDERS' EQUITY As of March 31, 2022, there were 117,985,944 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 March 31, 2022, the Company completed its stock repurchase program and purchased approximately 6.4 million shares of Class A common stock at an average price of $38.88 per share for a total purchase price of $250.0 million. 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, December 15, 2021, and March 15, 2022. On April 21, 2022, the Board of Directors declared a quarterly cash dividend of $0.20 per share, payable on June 15, 2022 to stockholders of record on June 1, 2022.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Mar. 31, 2022
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 March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Numerator for basic earnings per share: Net income attributable to stockholders (a) $ 38,415 $ 48,321 $ 235,964 $ 211,288 Numerator for diluted earnings per share: Net income attributable to stockholders (a) $ 38,415 $ 48,321 $ 235,964 $ 211,288 Net income attributable to non-controlling interest — — 1,643 — Net income for diluted earnings per share $ 38,415 $ 48,321 $ 237,607 $ 211,288 Denominator for earnings per share: Basic weighted average shares outstanding (b) 118,697 122,254 120,957 114,596 Effect of dilutive securities: (c) Stock options 98 325 225 300 Restricted stock 465 373 499 336 Performance share awards 553 164 621 133 Diluted weighted average shares and assumed conversions 119,813 123,116 122,302 115,365 Earnings per share attributable to stockholders: Basic $ 0.32 $ 0.40 $ 1.95 $ 1.84 Diluted $ 0.32 $ 0.39 $ 1.94 $ 1.83 _________________________________ (a) Net income attributable to stockholders was calculated as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Net income $ 39,069 $ 51,444 $ 237,607 $ 253,876 Net income attributable to non-controlling interest (654) (3,123) (1,643) (15,903) Adjustment of redeemable limited partners’ capital to redemption amount — — — (26,685) Net income attributable to stockholders $ 38,415 $ 48,321 $ 235,964 $ 211,288 (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 nine months ended March 31, 2022 and 2021. (c) For the three and nine months ended March 31, 2022, the effect of 0.3 million and 0.6 million stock options and restricted stock units was excluded from diluted weighted average shares outstanding as it had an anti-dilutive effect. For the nine months ended March 31, 2022, the effect of 0.3 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 nine months ended March 31, 2021, the effect of 0.4 million and 1.5 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 0.7 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	9 Months Ended
	Mar. 31, 2022
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 nine months ended March 31, 2022 and 2021, 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 March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Pre-tax stock-based compensation expense $ 14,004 $ 13,056 $ 37,792 $ 27,601 Deferred tax benefit (a) 3,288 2,521 8,013 4,641 Total stock-based compensation expense, net of tax $ 10,716 $ 10,535 $ 29,779 $ 22,960 _________________________________ (a) For the three and nine months ended March 31, 2022, the deferred tax benefit was reduced by $0.4 million and $1.8 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 March 31, 2022, there were 4.7 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 nine months ended March 31, 2022: 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 624,256 37.79 651,392 37.22 — — Vested/exercised (293,691) 40.19 (588,142) 43.74 (1,239,656) 30.18 Forfeited (139,811) 33.80 (199,985) 32.06 (12,025) 36.54 Outstanding at March 31, 2022 1,181,055 $ 35.55 1,594,267 $ 33.66 911,325 $ 30.44 Stock options outstanding and exercisable at March 31, 2022 911,325 $ 30.44 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 March 31, 2022 was as follows (in thousands). At March 31, 2022, there was no unrecognized stock-based compensation expense for outstanding stock options. Unrecognized Stock-Based Compensation Expense Weighted Average Amortization Period Restricted stock $ 24,950 2.1 years Performance share awards 23,590 1.7 years Total unrecognized stock-based compensation expense $ 48,540 1.9 years The aggregate intrinsic value of stock options at March 31, 2022 was as follows (in thousands): Intrinsic Value of Stock Options Outstanding and exercisable $ 4,727 Exercised during the year ended March 31, 2022 $ 9,716

INCOME TAXES

INCOME TAXES	9 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	(13) INCOME TAXES Income tax expense for the three months ended March 31, 2022, and 2021 was $14.7 million and $13.4 million, respectively, which reflects effective tax rates of 27% and 21%, respectively. The change in the effective tax rate for the three months ended March 31, 2022 is primarily attributable to the Subsidiary Reorganization which was completed on December 1, 2021. Income tax expense for the nine months ended March 31, 2022 was $40.1 million, which reflects an effective tax rate of 14% compared to an income tax benefit of $64.9 million for the nine months ended March 31, 2021 which reflects an effective tax rate of (34)%. The change in the effective tax rate for the nine months ended March 31, 2022 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 23% for the nine months ended March 31, 2021. During the first quarter of fiscal year 2022, the Company assessed the future realization of its deferred tax assets as a result of its plan to complete the Subsidiary Reorganization by the end of the second quarter of fiscal year 2022. On December 1, 2021, the Company completed the Subsidiary Reorganization. The Company reassessed its valuation allowance release and in fiscal year 2022, the Company expects to release $32.3 million of deferred tax asset valuation allowance primarily related to finite-lived net operating losses and research and development credit carryforwards. As a result of the Subsidiary Reorganization, the Company has included $10.6 million of tax benefit in its annualized effective tax rate calculation based on the amount that is expected to offset ordinary income during fiscal year 2022. The remaining $21.7 million of valuation allowance expected to be released relates to carryforwards expected to be utilized in future years and is being recognized as a discrete item in the nine months ended March 31, 2022.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	(14) COMMITMENTS AND CONTINGENCIES Operating Leases Operating lease expense for the three months ended March 31, 2022 and 2021 was $2.5 million and $2.6 million, respectively. Operating lease expense for the nine months ended March 31, 2022 and 2021 was $7.6 million and $8.2 million, respectively. As of March 31, 2022, the weighted average remaining lease term was 4.1 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): March 31, 2022 June 30, 2021 2022 (a) $ 3,017 $ 11,738 2023 12,131 12,012 2024 12,267 12,145 2025 12,301 12,177 2026 9,005 8,878 Thereafter 1,323 1,293 Total future minimum lease payments 50,044 58,243 Less: imputed interest 3,885 5,289 Total operating lease liabilities (b) $ 46,159 $ 52,954 _________________________________ (a) As of March 31, 2022, future minimum lease payments are for the period from April 1, 2022 to June 30, 2022. (b) As of March 31, 2022, total operating lease liabilities included $10.5 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 stockholder derivative or other similar litigation, claims relating to commercial, product liability, tort and personal injury, employment, antitrust, intellectual property, or other regulatory matters. 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	9 Months Ended
	Mar. 31, 2022
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 March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Net revenue: Segment net revenue Supply Chain Services Net administrative fees $ 148,396 $ 146,553 $ 448,261 $ 424,537 Other services and support 8,914 8,630 27,165 18,307 Services 157,310 155,183 475,426 442,844 Products 93,629 215,995 323,825 511,080 Total Supply Chain Services (a) 250,939 371,178 799,251 953,924 Performance Services (a) 96,903 98,745 292,962 285,713 Total segment net revenue 347,842 469,923 1,092,213 1,239,637 Eliminations (a) (9) — (18) — Net revenue $ 347,833 $ 469,923 $ 1,092,195 $ 1,239,637 _________________________________ (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 March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Depreciation and amortization expense (a) : Supply Chain Services $ 14,114 $ 9,389 $ 40,710 $ 27,608 Performance Services 16,163 18,196 48,349 55,763 Corporate 2,282 2,152 6,705 6,397 Total depreciation and amortization expense $ 32,559 $ 29,737 $ 95,764 $ 89,768 Capital expenditures: Supply Chain Services $ 6,740 $ 2,486 $ 22,212 $ 8,061 Performance Services 10,926 18,835 34,312 54,118 Corporate 735 726 4,537 4,732 Total capital expenditures $ 18,401 $ 22,047 $ 61,061 $ 66,911 March 31, 2022 June 30, 2021 Total assets: Supply Chain Services $ 1,507,056 $ 1,550,300 Performance Services 1,065,974 1,043,608 Corporate 942,431 928,939 Total assets 3,515,461 3,522,847 Eliminations (b) (2) 51 Total assets, net $ 3,515,459 $ 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 March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Income before income taxes $ 53,763 $ 64,888 $ 277,701 $ 188,996 Equity in net income of unconsolidated affiliates (a) (3,991) (5,524) (17,165) (16,023) Interest and investment loss, net 2,804 3,225 8,465 8,742 Loss (gain) on FFF Put and Call Rights (b) — 5,195 (64,110) 21,621 Other (income) expense 4,248 (1,594) 2,176 (10,167) Operating income 56,824 66,190 207,067 193,169 Depreciation and amortization 21,408 19,337 62,874 55,904 Amortization of purchased intangible assets 11,151 10,400 32,890 33,864 Stock-based compensation (c) 14,149 13,180 38,229 27,970 Acquisition- and disposition-related expenses 3,115 4,126 10,282 14,889 Equity in net income of unconsolidated affiliates (a) 3,991 5,524 17,165 16,023 Deferred compensation plan (expense) income (d) (3,994) 1,521 (1,923) 9,231 Other expense, net 5,544 929 9,323 5,718 Non-GAAP Adjusted EBITDA $ 112,188 $ 121,207 $ 375,907 $ 356,768 Segment Non-GAAP Adjusted EBITDA: Supply Chain Services (e) $ 118,034 $ 117,949 $ 381,586 $ 339,538 Performance Services (e) 26,552 35,950 89,277 109,675 Corporate (32,398) (32,692) (94,956) (92,445) Non-GAAP Adjusted EBITDA $ 112,188 $ 121,207 $ 375,907 $ 356,768 _________________________________ (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 March 31, 2022 and 2021 and $0.4 million for both the nine months ended March 31, 2022 and 2021, 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)	9 Months Ended
	Mar. 31, 2022
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, but not limited to, estimates for net administrative fees revenue, other services and support revenue, contract assets, deferred revenue, contract costs, allowances for credit losses, reserves for net realizable value of inventory, obsolete inventory, 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 Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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)	9 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Supplemental Cash Flow Information	The following table presents supplementary cash flows information for the nine months ended March 31, 2022 and 2021 (in thousands): Nine Months Ended March 31, 2022 2021 Supplementary non-cash investing and financing activities: Non-cash additions to property and equipment $ 129 $ — Accrued dividend equivalents 738 513 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)	9 Months Ended
	Mar. 31, 2022
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 March 31, Nine Months Ended March 31, March 31, 2022 June 30, 2021 2022 2021 2022 2021 FFF $ 132,384 $ 120,548 $ 2,437 $ 806 $ 11,836 $ 8,387 Exela 27,504 — 501 — 1,504 — Prestige 14,566 14,478 935 4,436 3,272 7,082 Qventus 16,000 — — — — — Other investments 18,751 18,198 118 282 553 554 Total investments $ 209,205 $ 153,224 $ 3,991 $ 5,524 $ 17,165 $ 16,023

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Mar. 31, 2022
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 March 31, 2022 Cash equivalents $ 75 $ 75 $ — $ — Deferred compensation plan assets 59,803 59,803 — — Total assets 59,878 59,878 — — Earn-out liabilities 23,194 — — 23,194 Total liabilities $ 23,194 $ — $ — $ 23,194 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 March 31, 2022 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 1.1 % 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 March 31, 2022 Earn-out liabilities $ 24,139 $ — $ (945) $ 23,194 Total Level 3 liabilities $ 24,139 $ — $ (945) $ 23,194 Three Months Ended March 31, 2021 Earn-out liabilities $ 22,700 $ — $ (1,254) $ 23,954 FFF put right 53,184 — (5,195) 58,379 Total Level 3 liabilities $ 75,884 $ — $ (6,449) $ 82,333 Nine Months Ended March 31, 2022 Earn-out liabilities $ 24,249 $ — $ (1,055) $ 23,194 FFF put right 64,110 (64,110) — — Total Level 3 liabilities $ 88,359 $ (64,110) $ (1,055) $ 23,194 Nine Months Ended March 31, 2021 Earn-out liabilities $ 33,151 $ (13,733) $ (4,536) $ 23,954 FFF put right 36,758 — (21,621) 58,379 Total Level 3 liabilities $ 69,909 $ (13,733) $ (26,157) $ 82,333 _________________________________ (a) Purchases (Settlements) for the nine months ended March 31, 2022 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 nine months ended March 31, 2021 includes the Medpricer earnout, which had been earned but not yet paid as of March 31, 2021, and the Stanson earnout, which was paid in full as of March 31, 2021.
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 March 31, 2022 Earn-out liabilities $ 24,139 $ — $ (945) $ 23,194 Total Level 3 liabilities $ 24,139 $ — $ (945) $ 23,194 Three Months Ended March 31, 2021 Earn-out liabilities $ 22,700 $ — $ (1,254) $ 23,954 FFF put right 53,184 — (5,195) 58,379 Total Level 3 liabilities $ 75,884 $ — $ (6,449) $ 82,333 Nine Months Ended March 31, 2022 Earn-out liabilities $ 24,249 $ — $ (1,055) $ 23,194 FFF put right 64,110 (64,110) — — Total Level 3 liabilities $ 88,359 $ (64,110) $ (1,055) $ 23,194 Nine Months Ended March 31, 2021 Earn-out liabilities $ 33,151 $ (13,733) $ (4,536) $ 23,954 FFF put right 36,758 — (21,621) 58,379 Total Level 3 liabilities $ 69,909 $ (13,733) $ (26,157) $ 82,333 _________________________________ (a) Purchases (Settlements) for the nine months ended March 31, 2022 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 nine months ended March 31, 2021 includes the Medpricer earnout, which had been earned but not yet paid as of March 31, 2021, and the Stanson earnout, which was paid in full as of March 31, 2021.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets, net consisted of the following (in thousands): Useful Life March 31, 2022 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 5.2 years 21,315 11,315 Other (a) 10.2 years 7,682 7,682 Total intangible assets 696,554 686,554 Accumulated amortization (322,802) (289,912) Total intangible assets, net $ 373,752 $ 396,642 _________________________________ (a) Includes a $1.0 million indefinite-lived asset.

DEBT AND NOTES PAYABLE (Tables)

DEBT AND NOTES PAYABLE (Tables)	9 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt and Notes Payable	Long-term debt and notes payable consisted of the following (in thousands): March 31, 2022 June 30, 2021 Credit facility $ 250,000 $ 75,000 Notes payable to members, net of discount 323,156 394,943 Other notes payable 5,333 8,628 Total debt and notes payable 578,489 478,571 Less: current portion (350,395) (174,243) Total long-term debt and notes payable $ 228,094 $ 304,328

REDEEMABLE LIMITED PARTNERS' _2

REDEEMABLE LIMITED PARTNERS' CAPITAL (Tables)	9 Months Ended
	Mar. 31, 2022
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 March 31, 2021. 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)	9 Months Ended
	Mar. 31, 2022
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 March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Numerator for basic earnings per share: Net income attributable to stockholders (a) $ 38,415 $ 48,321 $ 235,964 $ 211,288 Numerator for diluted earnings per share: Net income attributable to stockholders (a) $ 38,415 $ 48,321 $ 235,964 $ 211,288 Net income attributable to non-controlling interest — — 1,643 — Net income for diluted earnings per share $ 38,415 $ 48,321 $ 237,607 $ 211,288 Denominator for earnings per share: Basic weighted average shares outstanding (b) 118,697 122,254 120,957 114,596 Effect of dilutive securities: (c) Stock options 98 325 225 300 Restricted stock 465 373 499 336 Performance share awards 553 164 621 133 Diluted weighted average shares and assumed conversions 119,813 123,116 122,302 115,365 Earnings per share attributable to stockholders: Basic $ 0.32 $ 0.40 $ 1.95 $ 1.84 Diluted $ 0.32 $ 0.39 $ 1.94 $ 1.83 _________________________________ (a) Net income attributable to stockholders was calculated as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Net income $ 39,069 $ 51,444 $ 237,607 $ 253,876 Net income attributable to non-controlling interest (654) (3,123) (1,643) (15,903) Adjustment of redeemable limited partners’ capital to redemption amount — — — (26,685) Net income attributable to stockholders $ 38,415 $ 48,321 $ 235,964 $ 211,288 (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 nine months ended March 31, 2022 and 2021. (c) For the three and nine months ended March 31, 2022, the effect of 0.3 million and 0.6 million stock options and restricted stock units was excluded from diluted weighted average shares outstanding as it had an anti-dilutive effect. For the nine months ended March 31, 2022, the effect of 0.3 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 nine months ended March 31, 2021, the effect of 0.4 million and 1.5 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 0.7 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)	9 Months Ended
	Mar. 31, 2022
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 March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Pre-tax stock-based compensation expense $ 14,004 $ 13,056 $ 37,792 $ 27,601 Deferred tax benefit (a) 3,288 2,521 8,013 4,641 Total stock-based compensation expense, net of tax $ 10,716 $ 10,535 $ 29,779 $ 22,960 _________________________________ (a) For the three and nine months ended March 31, 2022, the deferred tax benefit was reduced by $0.4 million and $1.8 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 nine months ended March 31, 2022: 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 624,256 37.79 651,392 37.22 — — Vested/exercised (293,691) 40.19 (588,142) 43.74 (1,239,656) 30.18 Forfeited (139,811) 33.80 (199,985) 32.06 (12,025) 36.54 Outstanding at March 31, 2022 1,181,055 $ 35.55 1,594,267 $ 33.66 911,325 $ 30.44 Stock options outstanding and exercisable at March 31, 2022 911,325 $ 30.44
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 nine months ended March 31, 2022: 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 624,256 37.79 651,392 37.22 — — Vested/exercised (293,691) 40.19 (588,142) 43.74 (1,239,656) 30.18 Forfeited (139,811) 33.80 (199,985) 32.06 (12,025) 36.54 Outstanding at March 31, 2022 1,181,055 $ 35.55 1,594,267 $ 33.66 911,325 $ 30.44 Stock options outstanding and exercisable at March 31, 2022 911,325 $ 30.44
Schedule of Information Related to Stock Options	The following table includes information related to restricted stock, performance share awards and stock options for the nine months ended March 31, 2022: 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 624,256 37.79 651,392 37.22 — — Vested/exercised (293,691) 40.19 (588,142) 43.74 (1,239,656) 30.18 Forfeited (139,811) 33.80 (199,985) 32.06 (12,025) 36.54 Outstanding at March 31, 2022 1,181,055 $ 35.55 1,594,267 $ 33.66 911,325 $ 30.44 Stock options outstanding and exercisable at March 31, 2022 911,325 $ 30.44
Schedule of Unrecognized Stock-based Compensation Expense	Unrecognized stock-based compensation expense at March 31, 2022 was as follows (in thousands). At March 31, 2022, there was no unrecognized stock-based compensation expense for outstanding stock options. Unrecognized Stock-Based Compensation Expense Weighted Average Amortization Period Restricted stock $ 24,950 2.1 years Performance share awards 23,590 1.7 years Total unrecognized stock-based compensation expense $ 48,540 1.9 years
Schedule of Aggregate Intrinsic Value of Stock Options	The aggregate intrinsic value of stock options at March 31, 2022 was as follows (in thousands): Intrinsic Value of Stock Options Outstanding and exercisable $ 4,727 Exercised during the year ended March 31, 2022 $ 9,716

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Mar. 31, 2022
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): March 31, 2022 June 30, 2021 2022 (a) $ 3,017 $ 11,738 2023 12,131 12,012 2024 12,267 12,145 2025 12,301 12,177 2026 9,005 8,878 Thereafter 1,323 1,293 Total future minimum lease payments 50,044 58,243 Less: imputed interest 3,885 5,289 Total operating lease liabilities (b) $ 46,159 $ 52,954 _________________________________ (a) As of March 31, 2022, future minimum lease payments are for the period from April 1, 2022 to June 30, 2022. (b) As of March 31, 2022, total operating lease liabilities included $10.5 million within other current liabilities in the Condensed Consolidated Balance Sheets.

SEGMENTS (Tables)

SEGMENTS (Tables)	9 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Information	The following table presents disaggregated revenue by business segment and underlying source (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Net revenue: Segment net revenue Supply Chain Services Net administrative fees $ 148,396 $ 146,553 $ 448,261 $ 424,537 Other services and support 8,914 8,630 27,165 18,307 Services 157,310 155,183 475,426 442,844 Products 93,629 215,995 323,825 511,080 Total Supply Chain Services (a) 250,939 371,178 799,251 953,924 Performance Services (a) 96,903 98,745 292,962 285,713 Total segment net revenue 347,842 469,923 1,092,213 1,239,637 Eliminations (a) (9) — (18) — Net revenue $ 347,833 $ 469,923 $ 1,092,195 $ 1,239,637 _________________________________ (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 March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Depreciation and amortization expense (a) : Supply Chain Services $ 14,114 $ 9,389 $ 40,710 $ 27,608 Performance Services 16,163 18,196 48,349 55,763 Corporate 2,282 2,152 6,705 6,397 Total depreciation and amortization expense $ 32,559 $ 29,737 $ 95,764 $ 89,768 Capital expenditures: Supply Chain Services $ 6,740 $ 2,486 $ 22,212 $ 8,061 Performance Services 10,926 18,835 34,312 54,118 Corporate 735 726 4,537 4,732 Total capital expenditures $ 18,401 $ 22,047 $ 61,061 $ 66,911 March 31, 2022 June 30, 2021 Total assets: Supply Chain Services $ 1,507,056 $ 1,550,300 Performance Services 1,065,974 1,043,608 Corporate 942,431 928,939 Total assets 3,515,461 3,522,847 Eliminations (b) (2) 51 Total assets, net $ 3,515,459 $ 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 March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Income before income taxes $ 53,763 $ 64,888 $ 277,701 $ 188,996 Equity in net income of unconsolidated affiliates (a) (3,991) (5,524) (17,165) (16,023) Interest and investment loss, net 2,804 3,225 8,465 8,742 Loss (gain) on FFF Put and Call Rights (b) — 5,195 (64,110) 21,621 Other (income) expense 4,248 (1,594) 2,176 (10,167) Operating income 56,824 66,190 207,067 193,169 Depreciation and amortization 21,408 19,337 62,874 55,904 Amortization of purchased intangible assets 11,151 10,400 32,890 33,864 Stock-based compensation (c) 14,149 13,180 38,229 27,970 Acquisition- and disposition-related expenses 3,115 4,126 10,282 14,889 Equity in net income of unconsolidated affiliates (a) 3,991 5,524 17,165 16,023 Deferred compensation plan (expense) income (d) (3,994) 1,521 (1,923) 9,231 Other expense, net 5,544 929 9,323 5,718 Non-GAAP Adjusted EBITDA $ 112,188 $ 121,207 $ 375,907 $ 356,768 Segment Non-GAAP Adjusted EBITDA: Supply Chain Services (e) $ 118,034 $ 117,949 $ 381,586 $ 339,538 Performance Services (e) 26,552 35,950 89,277 109,675 Corporate (32,398) (32,692) (94,956) (92,445) Non-GAAP Adjusted EBITDA $ 112,188 $ 121,207 $ 375,907 $ 356,768 _________________________________ (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 March 31, 2022 and 2021 and $0.4 million for both the nine months ended March 31, 2022 and 2021, 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)	9 Months Ended
	Mar. 31, 2022health_systemsegment
Segment Reporting Information [Line Items]
Number of business segments | segment	2
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	9 Months Ended
	Sep. 30, 2020	Mar. 31, 2022	Mar. 31, 2021
Supplementary non-cash investing and financing activities:
Non-cash additions to property and equipment		$ 129	$ 0
Accrued dividend equivalents		738	513
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	Mar. 31, 2022	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		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Schedule of Equity Method Investments [Line Items]
Carrying Value	$ 209,205		$ 209,205		$ 153,224
Equity in Net Income	3,991	$ 5,524	17,165	$ 16,023
FFF
Schedule of Equity Method Investments [Line Items]
Carrying Value	132,384		132,384		120,548
Equity in Net Income	2,437	806	11,836	8,387
Exela
Schedule of Equity Method Investments [Line Items]
Carrying Value	27,504		27,504		0
Equity in Net Income	501	0	1,504	0
Prestige
Schedule of Equity Method Investments [Line Items]
Carrying Value	14,566		14,566		14,478
Equity in Net Income	935	4,436	3,272	7,082
Qventus
Schedule of Equity Method Investments [Line Items]
Carrying Value	16,000		16,000		0
Equity in Net Income	0	0	0	0
Other investments
Schedule of Equity Method Investments [Line Items]
Carrying Value	18,751		18,751		$ 18,198
Equity in Net Income	$ 118	$ 282	$ 553	$ 554

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details) $ in Thousands	Jul. 29, 2021USD ($)	Mar. 31, 2022USD ($)health_system	Mar. 31, 2021USD ($)	Mar. 31, 2022USD ($)health_system	Mar. 31, 2021USD ($)	Jun. 30, 2021	Jan. 31, 2021
Schedule of Equity Method Investments [Line Items]
(Loss) gain on FFF Put and Call Rights | $		$ 0	$ (5,195)	$ 64,110	$ (21,621)
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
Qventus
Schedule of Equity Method Investments [Line Items]
Ownership interest through subsidiary (as a percent)							7.00%
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	Mar. 31, 2022	Jun. 30, 2021
Assets
Cash equivalents	$ 75	$ 75
Deferred compensation plan assets	59,803	65,051
Total assets	59,878	65,126
Liabilities
Earn-out liabilities	23,194	24,249
FFF put right		64,110
Total liabilities	23,194	88,359
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Cash equivalents	75	75
Deferred compensation plan assets	59,803	65,051
Total assets	59,878	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	23,194	24,249
FFF put right		64,110
Total liabilities	$ 23,194	$ 88,359

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details)	9 Months Ended
	Mar. 31, 2022USD ($)	Jun. 30, 2021USD ($)	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	$ 23,200,000	$ 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)	0.011	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	23,194,000	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	5,900,000	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)	Mar. 31, 2022	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
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)	0.011	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		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance	$ 24,139	$ 75,884	$ 88,359	$ 69,909
Purchases (Settlements)	0	0	(64,110)	(13,733)
(Gain) Loss	(945)	(6,449)	(1,055)	(26,157)
Ending Balance	$ 23,194	$ 82,333	$ 23,194	$ 82,333
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	$ 24,139	$ 22,700	$ 24,249	$ 33,151
Purchases (Settlements)	0	0	0	(13,733)
(Gain) Loss	(945)	(1,254)	(1,055)	(4,536)
Ending Balance	23,194	23,954	23,194	23,954
FFF put right
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation
Beginning Balance		53,184	64,110	36,758
Purchases (Settlements)		0	(64,110)	0
(Gain) Loss		(5,195)	0	(21,621)
Ending Balance	$ 0	$ 58,379	$ 0	$ 58,379

CONTRACT BALANCES - Contract As

CONTRACT BALANCES - Contract Assets, Deferred Revenue and Capitalized Contract Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue recognized		$ 8.5	$ 24.2	$ (3.9)
Revenue recognized from performance obligations satisfied in previous periods	$ 5.7		3.6
Revenue recognized associated with a change in net administration fee revenue		(2.9)		(0.9)
Revenue recognized associated with revised forecasts underlying contracts with variable consideration components	0.3		0.3
Transaction price allocated to remaining performance obligation	614		614
Net administrative fees
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue recognized associated with a change in net administration fee revenue	$ 5.4		$ 3.3
Revenue recognized associated with revised forecasts underlying contracts with variable consideration components		$ 11.4		$ (3)

CONTRACT BALANCES - Remaining P

CONTRACT BALANCES - Remaining Performance Obligation (Details) $ in Millions	Mar. 31, 2022USD ($)
Revenue from Contract with Customer [Abstract]
Transaction price allocated to remaining performance obligation	$ 614
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation to be satisfied (percent)	46.00%
Remaining performance obligation satisfaction period (in months)	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation to be satisfied (percent)	27.00%
Remaining performance obligation satisfaction period (in months)	12 months

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Goodwill [Line Items]
Goodwill	$ 999,913		$ 999,913		$ 999,913
Intangible asset amortization	11,151	$ 10,400	32,890	$ 33,864
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	9 Months Ended
	Mar. 31, 2022	Jun. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Total intangible assets	$ 696,554	$ 686,554
Accumulated amortization	(322,802)	(289,912)
Total intangible assets, net	373,752	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 2 months 12 days
Total intangible assets	$ 21,315	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	Mar. 31, 2022	Jun. 30, 2021
Debt Instrument [Line Items]
Total debt and notes payable	$ 578,489	$ 478,571
Less: current portion	(350,395)	(174,243)
Total long-term debt and notes payable	228,094	304,328
Credit facility
Debt Instrument [Line Items]
Total debt and notes payable	250,000	75,000
Notes Payable | Notes payable to members, net of discount
Debt Instrument [Line Items]
Total debt and notes payable	323,156	394,943
Notes Payable | Other notes payable
Debt Instrument [Line Items]
Total debt and notes payable	$ 5,333	$ 8,628

DEBT AND NOTES PAYABLE - Credit

DEBT AND NOTES PAYABLE - Credit Facility (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Apr. 30, 2022	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Line of Credit Facility [Line Items]
Outstanding borrowings		$ 578,489		$ 478,571
Proceeds from credit facility		300,000	$ 225,000
Payments on credit facility		$ 125,000	$ 100,000
Credit facility
Line of Credit Facility [Line Items]
Interest rate (percent)		1.303%
Credit facility, unused capacity commitment fee (percent)		0.10%
Indebtedness or guarantee threshold		$ 75,000
Outstanding borrowings		250,000
Available borrowing capacity		749,900
Proceeds from credit facility		300,000
Payments on credit facility		$ 125,000
Credit facility | Subsequent Event
Line of Credit Facility [Line Items]
Payments on credit facility	$ 75,000
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 Millions	9 Months Ended
	Mar. 31, 2022	Jun. 30, 2021	Aug. 11, 2020
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	$ 323.2	$ 394.9
Imputed interest	(10.6)	(15.8)
Notes payable included in current portion of long-term debt	97.3	95.9
Other notes payable | Notes Payable
Debt Instrument [Line Items]
Notes payable	5.3	8.6
Notes payable included in current portion of long-term debt	$ 3.1	$ 3.3

REDEEMABLE LIMITED PARTNERS' _3

REDEEMABLE LIMITED PARTNERS' CAPITAL - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2020	Mar. 31, 2022	Mar. 31, 2021
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	$ 26,685	$ 0	$ 26,685

REDEEMABLE LIMITED PARTNERS' _4

REDEEMABLE LIMITED PARTNERS' CAPITAL - Changes in Redeemable Limited Partners' Capital (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2020	Mar. 31, 2022	Mar. 31, 2021
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	26,685	$ 0	26,685
Reclassification to permanent equity			(1,754,607)
Redeemable limited partners' capital, ending balance			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
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

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 21, 2022	Mar. 15, 2022	Dec. 15, 2021	Sep. 15, 2021	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2022	Aug. 05, 2021	Jun. 30, 2021
Class of Stock [Line Items]
Stock repurchase, average price (in dollars per share										$ 38.88
Stock repurchase, total purchase price					$ 74,105	$ 133,396	$ 42,628			$ 250,000
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)					117,985,944					117,985,944		122,533,051
Common stock, par value (in dollars per share)					$ 0.01					$ 0.01		$ 0.01
Stock repurchase, authorized amount											$ 250,000
Stock repurchased during period (in shares)										6,400,000
Per share amount of dividends (in dollars per share)		$ 0.20	$ 0.20	$ 0.20				$ 0.19	$ 0.19
Dividends declared (in dollars per share					$ 0.20	$ 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						9 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2022	Mar. 31, 2021
Numerator for basic earnings per share:
Net income attributable to stockholders	$ 38,415			$ 48,321			$ 235,964	$ 211,288
Numerator for diluted earnings per share:
Net income attributable to stockholders	38,415			48,321			235,964	211,288
Net income attributable to non-controlling interest	0			0			1,643	0
Net income for diluted earnings per share	$ 38,415			$ 48,321			$ 237,607	$ 211,288
Denominator for earnings per share:
Basic weighted average shares outstanding (in shares)	118,697			122,254			120,957	114,596
Effect of dilutive securities:
Diluted weighted average shares and assumed conversions (in shares)	119,813			123,116			122,302	115,365
Earnings per share attributable to stockholders:
Basic (in dollars per share)	$ 0.32			$ 0.40			$ 1.95	$ 1.84
Diluted (in dollars per share)	$ 0.32			$ 0.39			$ 1.94	$ 1.83
Net income	$ 39,069	$ 77,232	$ 121,306	$ 51,444	$ 44,904	$ 157,528	$ 237,607	$ 253,876
Net income attributable to non-controlling interest	(654)			(3,123)			(1,643)	(15,903)
Net income attributable to stockholders	$ 38,415			$ 48,321			$ 235,964	$ 211,288
Common Class B Unit
Earnings per share attributable to stockholders:
Antidilutive securities excluded from computation of earnings per share (in shares)								7,500
Stock options
Effect of dilutive securities:
Effect of dilutive securities (in shares)	98			325			225	300
Earnings per share attributable to stockholders:
Antidilutive securities excluded from computation of earnings per share (in shares)				400				1,500
Restricted Stock
Effect of dilutive securities:
Effect of dilutive securities (in shares)	465			373			499	336
Earnings per share attributable to stockholders:
Antidilutive securities excluded from computation of earnings per share (in shares)	300						600
Performance share awards
Effect of dilutive securities:
Effect of dilutive securities (in shares)	553			164			621	133
Earnings per share attributable to stockholders:
Antidilutive securities excluded from computation of earnings per share (in shares)				700			300
Limited Partner
Earnings per share attributable to stockholders:
Adjustment of redeemable limited partners’ capital to redemption amount	$ 0			$ 0		$ (26,685)	$ 0	$ (26,685)

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - shares shares in Millions	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
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 (in shares)	4.7
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		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Pre-tax stock-based compensation expense	$ 14,004	$ 13,056	$ 37,792	$ 27,601
Deferred tax benefit	3,288	2,521	8,013	4,641
Share-based Payment Arrangement, Expense, after Tax	10,716	$ 10,535	29,779	$ 22,960
Stock-based compensation expense not deductible for tax purposes	$ 400		$ 1,800

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	9 Months Ended
	Mar. 31, 2022$ / sharesshares
Restricted Stock
Number of Awards
Outstanding, beginning balance (in shares) | shares	990,301
Granted (in shares) | shares	624,256
Vested/exercised (in shares) | shares	(293,691)
Forfeited (in shares) | shares	(139,811)
Outstanding, ending balance (in shares) | shares	1,181,055
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	40.19
Forfeited (in dollars per share) | $ / shares	33.80
Outstanding, ending balance (in dollars per share) | $ / shares	$ 35.55
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	(199,985)
Outstanding, ending balance (in shares) | shares	1,594,267
Weighted Average Fair Value at Grant Date
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 35.56
Granted (in dollars per share) | $ / shares	37.22
Vested/exercised (in dollars per share) | $ / shares	43.74
Forfeited (in dollars per share) | $ / shares	32.06
Outstanding, ending balance (in dollars per share) | $ / shares	$ 33.66
Stock options
Number of Options
Outstanding, beginning balance (in shares) | shares	2,163,006
Granted (in shares) | shares	0
Vested/exercised (in shares) | shares	(1,239,656)
Forfeited (in shares) | shares	(12,025)
Outstanding, ending balance (in shares) | shares	911,325
Stock options outstanding and exercisable (in shares) | shares	911,325
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	30.18
Forfeited (in dollars per share) | $ / shares	36.54
Outstanding, ending balance (in dollars per share) | $ / shares	30.44
Stock options outstanding and exercisable (in dollars per share) | $ / shares	$ 30.44

STOCK-BASED COMPENSATION - Sc_3

STOCK-BASED COMPENSATION - Schedule of Unrecognized Stock-Based Compensation Expense (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2022USD ($)
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	$ 48,540
Weighted Average Amortization Period	1 year 10 months 24 days
2013 Equity Incentive Plan | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 24,950
Weighted Average Amortization Period	2 years 1 month 6 days
2013 Equity Incentive Plan | Performance share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Stock-Based Compensation Expense	$ 23,590
Weighted Average Amortization Period	1 year 8 months 12 days

STOCK-BASED COMPENSATION - Sc_4

STOCK-BASED COMPENSATION - Schedule of Aggregate Intrinsic Value of Stock Options (Details) - 2013 Equity Incentive Plan $ in Thousands	9 Months Ended
	Mar. 31, 2022USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding and exercisable	$ 4,727
Exercised during the year ended March 31, 2022	$ 9,716

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2022
Income Tax Contingency [Line Items]
Income tax expense (benefit)	$ 14,694	$ 13,444	$ 40,094	$ (64,880)
Effective tax rate (percent)	27.00%	21.00%	14.00%	(34.00%)
Effective ta rate after excluding effect of one-time deferred tax benefit (percent)				23.00%
Tax credit carryforward, valuation allowance			$ 21,700
Forecast
Income Tax Contingency [Line Items]
Deferred tax asset valuation allowance					$ 32,300
Income tax benefit					$ 10,600

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating lease expense	$ 2,500	$ 2,600	$ 7,600	$ 8,200
Weighted average remaining lease term (in years)	4 years 1 month 6 days		4 years 1 month 6 days
Weighted average discount rate (percent)	4.00%		4.00%
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remainder of the year	$ 3,017		$ 3,017
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	1,323		1,323
Thereafter					1,293
Total future minimum lease payments	50,044		50,044		58,243
Less: imputed interest	3,885		3,885		5,289
Total operating lease liabilities	$ 46,159		$ 46,159		$ 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	$ 10,500		$ 10,500

SEGMENTS - Narrative (Details)

SEGMENTS - Narrative (Details)	9 Months Ended
	Mar. 31, 2022segment
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		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2021
Segment Reporting Information [Line Items]
Net revenue	$ 347,833	$ 469,923	$ 1,092,195	$ 1,239,637
Total depreciation and amortization expense	32,559	29,737	95,764	89,768
Total capital expenditures	18,401	22,047	61,061	66,911
Total assets	3,515,459		3,515,459		$ 3,522,898
Operating Segments
Segment Reporting Information [Line Items]
Net revenue	347,842	469,923	1,092,213	1,239,637
Eliminations
Segment Reporting Information [Line Items]
Net revenue	(9)	0	(18)	0
Corporate
Segment Reporting Information [Line Items]
Total depreciation and amortization expense	2,282	2,152	6,705	6,397
Total capital expenditures	735	726	4,537	4,732
Total assets	942,431		942,431		928,939
Eliminations
Segment Reporting Information [Line Items]
Total assets	(2)		(2)		51
Supply Chain Services | Operating Segments
Segment Reporting Information [Line Items]
Net revenue	250,939	371,178	799,251	953,924
Total depreciation and amortization expense	14,114	9,389	40,710	27,608
Total capital expenditures	6,740	2,486	22,212	8,061
Total assets	1,507,056		1,507,056		1,550,300
Performance Services | Operating Segments
Segment Reporting Information [Line Items]
Net revenue	96,903	98,745	292,962	285,713
Total depreciation and amortization expense	16,163	18,196	48,349	55,763
Total capital expenditures	10,926	18,835	34,312	54,118
Total assets	1,065,974		1,065,974		1,043,608
Operating Segments and Corporate Non-segment
Segment Reporting Information [Line Items]
Total assets	3,515,461		3,515,461		$ 3,522,847
Net administrative fees
Segment Reporting Information [Line Items]
Net revenue	148,396	146,553	448,261	424,537
Net administrative fees | Supply Chain Services | Operating Segments
Segment Reporting Information [Line Items]
Net revenue	148,396	146,553	448,261	424,537
Other services and support
Segment Reporting Information [Line Items]
Net revenue	105,808	107,375	320,109	304,020
Other services and support | Supply Chain Services | Operating Segments
Segment Reporting Information [Line Items]
Net revenue	8,914	8,630	27,165	18,307
Services
Segment Reporting Information [Line Items]
Net revenue	254,204	253,928	768,370	728,557
Services | Supply Chain Services | Operating Segments
Segment Reporting Information [Line Items]
Net revenue	157,310	155,183	475,426	442,844
Products
Segment Reporting Information [Line Items]
Net revenue	93,629	215,995	323,825	511,080
Products | Supply Chain Services | Operating Segments
Segment Reporting Information [Line Items]
Net revenue	$ 93,629	$ 215,995	$ 323,825	$ 511,080

SEGMENTS - Reconciliation of In

SEGMENTS - Reconciliation of Income Before Income Taxes to Segment Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Income before income taxes	$ 53,763	$ 64,888	$ 277,701	$ 188,996
Equity in net income of unconsolidated affiliates	(3,991)	(5,524)	(17,165)	(16,023)
Interest and investment loss, net	2,804	3,225	8,465	8,742
Loss (gain) on FFF Put and Call Rights	0	5,195	(64,110)	21,621
Other (income) expense	4,248	(1,594)	2,176	(10,167)
Operating income	56,824	66,190	207,067	193,169
Depreciation and amortization	21,408	19,337	62,874	55,904
Amortization of purchased intangible assets	11,151	10,400	32,890	33,864
Stock-based compensation	14,149	13,180	38,229	27,970
Acquisition- and disposition-related expenses	3,115	4,126	10,282	14,889
Equity in net income of unconsolidated affiliates	3,991	5,524	17,165	16,023
Deferred compensation plan (expense) income	(3,994)	1,521	(1,923)	9,231
Other expense, net	5,544	929	9,323	5,718
Non-GAAP Adjusted EBITDA	112,188	121,207	375,907	356,768
Employee Stock Purchase Plan (ESPP)
Segment Reporting Information [Line Items]
Stock-based compensation	100	100	400	400
Operating Segments | Supply Chain Services
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	118,034	117,949	381,586	339,538
Operating Segments | Performance Services
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	26,552	35,950	89,277	109,675
Corporate
Segment Reporting Information [Line Items]
Non-GAAP Adjusted EBITDA	$ (32,398)	$ (32,692)	$ (94,956)	$ (92,445)