Jack Henry & Associates (JKHY) 10-Q 5 Feb 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2015	Feb. 02, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	HENRY JACK & ASSOCIATES INC
Entity Central Index Key	779,152
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		78,861,707
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 55,126	$ 148,313
Receivables, net	147,091	245,387
Income tax receivable	3,116	2,753
Prepaid expenses and other	74,941	69,096
Deferred costs	39,743	27,950
Total current assets	320,017	493,499
PROPERTY AND EQUIPMENT, net	302,091	296,332
OTHER ASSETS:
Deferred Costs, Noncurrent	101,276	96,423
Computer software, net of amortization	214,992	191,541
Other non-current assets	57,364	52,432
Other intangible assets, net of amortization	38,408	34,038
Goodwill	556,256	550,366
Total other assets	1,086,757	1,047,004
Total assets	1,708,865	1,836,835
CURRENT LIABILITIES:
Accounts payable	5,653	9,933
Accrued expenses	74,469	78,962
Accrued income taxes	0	5,543
Deferred income tax liability	7,034	7,034
Notes payable and current maturities of long term debt	323	2,595
Deferred revenues	246,272	339,544
Total current liabilities	333,751	443,611
LONG TERM LIABILITIES:
Non-current deferred revenues	193,873	192,443
Non-current deferred income tax liability	158,419	150,223
Debt, net of current maturities	100,000	50,102
Other long-term liabilities	10,348	8,922
Total long term liabilities	462,640	401,690
Total liabilities	796,391	845,301
STOCKHOLDERS' EQUITY
Preferred stock - $1 par value; 500,000 shares authorized, none issued	0	0
Common stock - $0.01 par value; 250,000,000 shares authorized; 102,817,013 shares issued at December 31, 2015; 102,695,214 shares issued at June 30, 2015	1,028	1,027
Additional paid-in capital	429,855	424,536
Retained earnings	1,337,185	1,266,443
Less treasury stock at cost; 23,962,117 shares at December 31, 2015; 21,842,632 shares at June 30, 2015	(855,594)	(700,472)
Total stockholders' equity	912,474	991,534
Total liabilities and equity	1,708,865	1,836,835
Customer Relationships [Member]
OTHER ASSETS:
Customer Relationships, Net of Amortization	$ 118,461	$ 122,204

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS PARENTHETICAL - $ / shares	Dec. 31, 2015	Jun. 30, 2015
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	250,000,000	250,000,000
Common stock, issued shares	102,817,013	102,695,214
Preferred stock, par value	$ 1	$ 1
Preferred stock, authorized shares	500,000	500,000
Preferred stock, issued shares	0	0
Treasury Stock, Shares	23,962,117	21,842,632

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
REVENUE
License	$ 634	$ 491	$ 2,237	$ 994
Support and service	320,219	296,905	627,966	585,121
Hardware	12,019	13,898	24,287	26,652
Total revenue	332,872	311,294	654,490	612,767
COST OF SALES
License Costs	498	308	680	717
Cost of support and service	181,989	170,377	356,703	335,467
Cost of hardware	7,958	9,574	16,726	18,959
Total cost of sales	190,445	180,259	374,109	355,143
GROSS PROFIT	142,427	131,035	280,381	257,624
OPERATING EXPENSES
Selling and marketing	22,231	22,175	43,982	43,838
Research and development	18,862	17,681	37,416	34,472
General and administrative	16,547	11,514	33,659	28,025
Total operating expenses	57,640	51,370	115,057	106,335
OPERATING INCOME	84,787	79,665	165,324	151,289
INTEREST INCOME (EXPENSE)
Interest income	91	28	204	85
Interest expense	(276)	(337)	(496)	(603)
Total interest income (expense)	(185)	(309)	(292)	(518)
INCOME BEFORE INCOME TAXES	84,602	79,356	165,032	150,771
PROVISION FOR INCOME TAXES	25,254	25,474	54,318	50,802
NET INCOME	$ 59,348	$ 53,882	$ 110,714	$ 99,969
Earnings Per Share
Diluted earnings per share	$ 0.74	$ 0.66	$ 1.38	$ 1.22
Diluted weighted average shares outstanding	79,770	81,634	80,252	82,112
Basic earnings per share	$ 0.75	$ 0.66	$ 1.38	$ 1.22
Basic weighted average shares outstanding	79,473	81,432	80,009	81,813

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 110,714	$ 99,969
Adjustments to reconcile net income to net cash from operating activities:
Depreciation	25,973	27,471
Amortization	37,012	31,945
Change in deferred income taxes	6,267	(4,527)
Excess tax benefits from stock-based compensation, Operating Activities	(301)	(4,006)
Expense for stock-based compensation	5,112	4,583
Gain/loss on disposal of assets	(290)	(5,315)
Changes in operating assets and liabilities:
Change in receivables	98,487	76,151
Change in prepaid expenses, deferred costs and other	(27,913)	(31,555)
Change in accounts payable	(4,280)	(2,627)
Change in accrued expenses	(6,687)	1,263
Change in income taxes	(4,204)	11,878
Change in deferred revenues	(92,911)	(78,332)
Net cash from operating activities	146,979	126,898
CASH FLOWS FROM INVESTING ACTIVITIES:
Payment for acquisitions, net of cash acquired	(8,275)	0
Capital expenditures	(31,506)	(27,389)
Proceeds from sale of assets	2,747	8,242
Internal use software	(8,183)	(7,432)
Computer software developed	(47,903)	(36,820)
Net cash from investing activities	(93,120)	(63,399)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on credit facilities	100,000	70,000
Repayments on credit facilities	(52,374)	(4,669)
Purchase of treasury stock	(155,122)	(112,803)
Dividends paid	(39,972)	(35,961)
Excess tax benefits from stock-based compensation, Financing Activities	301	4,006
Proceeds from issuance of common stock upon exercise of stock options	1	402
Minimum tax withholding payments related to option exercises	(2,501)	(7,680)
Proceeds from sale of common stock, net	2,621	2,161
Net cash from financing activities	(147,046)	(84,544)
NET CHANGE IN CASH AND CASH EQUIVALENTS	(93,187)	(21,045)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	148,313	70,377
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 55,126	$ 49,332

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies (Text Block)	6 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Summary of Significant Accounting Policies [Text Block]	NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of the Company Jack Henry & Associates, Inc. and subsidiaries (“JHA” or the “Company”) is a provider of integrated computer systems and services that has developed and acquired a number of banking and credit union software systems. The Company's revenues are predominately earned by marketing those systems to financial institutions nationwide together with computer equipment (hardware), by providing the conversion and implementation services for financial institutions to utilize JHA systems, and by providing other related services. JHA also provides continuing support and services to customers using in-house or outsourced systems. Consolidation The condensed consolidated financial statements include the accounts of JHA and all of its subsidiaries, which are wholly-owned, and all intercompany accounts and transactions have been eliminated. Comprehensive Income Comprehensive income for the three and six months ended December 31, 2015 and 2014 equals the Company’s net income. Common Stock The Board of Directors has authorized the Company to repurchase shares of its common stock. Under this authorization, the Company may finance its share repurchases with available cash reserves or short-term borrowings on its existing credit facilities. The share repurchase program does not include specific price targets or timetables and may be suspended at any time. At December 31, 2015 , there were 23,962 shares in treasury stock and the Company had the remaining authority to repurchase up to 6,028 additional shares. The total cost of treasury shares at December 31, 2015 is $855,594 . During the first six months of fiscal 2016 , the Company repurchased 2,120 treasury shares for $155,122 . At June 30, 2015 , there were 21,843 shares in treasury stock and the Company had authority to repurchase up to 8,148 additional shares. Dividends declared per share were $0.25 and $0.22 , for the three months ended December 31, 2015 and 2014 , respectively. For the six months ended December 31, 2015 and 2014 , dividends declared per share were $0.50 and $0.44 , respectively. Interim Financial Statements The accompanying condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the Securities and Exchange Commission and in accordance with accounting principles generally accepted in the United States of America applicable to interim condensed consolidated financial statements, and do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete consolidated financial statements. The condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes, which are included in its Annual Report on Form 10-K (“Form 10-K”) for the fiscal year ended June 30, 2015 . The accounting policies followed by the Company are set forth in Note 1 to the Company's consolidated financial statements included in its Form 10-K for the fiscal year ended June 30, 2015 . In the opinion of the management of the Company, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary (consisting of normal recurring adjustments) to state fairly the financial position of the Company as of December 31, 2015 , the results of its operations for the three and six months ending December 31, 2015 and 2014 , and its cash flows for the six months ending December 31, 2015 and 2014 . The condensed consolidated balance sheet at June 30, 2015 was derived from audited annual financial statements, but does not contain all of the footnote disclosures from the annual financial statements. The results of operations for the period ended December 31, 2015 are not necessarily indicative of the results to be expected for the entire year. Litigation We are subject to various routine legal proceedings and claims, including the following: In 2013 a patent infringement lawsuit entitled DataTreasury Corporation v. Jack Henry & Associates, Inc. et. al . was filed against the Company, several subsidiaries and a number of customer financial institutions in the US District Court for the Eastern District of Texas. The complaint seeks damages, interest, injunctive relief, and attorneys' fees for the alleged infringement of two patents, as well as trebling of damage awards for alleged willful infringement. We believe we have strong defenses and have defended the lawsuit vigorously. A part of that defense has been the filing of challenges to the validity of plaintiff's patents in post-grant proceedings at the Patent Trial and Appeal Board ("PTAB") of the U.S. Patent and Trademark Office. On April 29, July 8, and September 1 2015, the PTAB issued decisions holding that all relevant claims of the plaintiff's patents are unpatentable and invalid. DataTreasury has appealed the PTAB decisions to the U.S. Court of Appeals for the Federal Circuit. At this stage, we cannot make a reasonable estimate of possible loss or range of loss, if any, arising from this lawsuit.

Fair Value of Financial Instrum

Fair Value of Financial Instruments Fair Value of Financial Instruments (Text Block)	6 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	FAIR VALUE OF FINANCIAL INSTRUMENTS For cash equivalents, amounts receivable or payable and short-term borrowings, fair values approximate carrying value, based on the short-term nature of the assets and liabilities. The fair value of long term debt also approximates carrying value as estimated using discounted cash flows based on the Company’s current incremental borrowing rates. The Company's estimates of the fair value for financial assets and financial liabilities are based on the framework established in the fair value accounting guidance. The framework is based on the inputs used in valuation, gives the highest priority to quoted prices in active markets, and requires that observable inputs be used in the valuations when available. The three levels of the hierarchy are as follows: Level 1: inputs to the valuation are quoted prices in an active market for identical assets Level 2: inputs to the valuation include quoted prices for similar assets in active markets that are observable either directly or indirectly Level 3: valuation is based on significant inputs that are unobservable in the market and the Company's own estimates of assumptions that we believe market participants would use in pricing the asset Fair value of financial assets, included in cash and cash equivalents, and financial liabilities is as follows: Estimated Fair Value Measurements Total Fair Level 1 Level 2 Level 3 Value December 31, 2015 Financial Assets: Money market funds $ 23,854 $ — $ — $ 23,854 Financial Liabilities: Revolving credit facility $ — $ 100,000 $ — $ 100,000 June 30, 2015 Financial Assets: Money market funds $ 98,888 $ — $ — $ 98,888 Financial Liabilities: Revolving credit facility $ — $ 50,000 $ — $ 50,000

Recent Accounting Pronouncement

Recent Accounting Pronouncements Recent Accounting Pronouncements (Text Block)	6 Months Ended
	Dec. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	RECENT ACCOUNTING PRONOUNCEMENTS The Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers in May 2014. The new standard will supersede much of the existing authoritative literature for revenue recognition. In August 2015, the FASB also issued ASU No. 2015-14 which deferred the effective date of the new standard by one year. The standard and related amendments will be effective for the Company for its annual reporting period beginning July 1, 2018, including interim periods within that reporting period. Along with the deferral of the effective date, ASU No. 2015-14 allows early application as of the original effective date. Entities are allowed to transition to the new standard by either recasting prior periods or recognizing the cumulative effect as of the beginning of the period of adoption. The Company is currently evaluating the newly issued guidance, including which transition approach will be applied and the estimated impact it will have on our consolidated financial statements. In April 2015, the FASB issued ASU No. 2015-03, Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. This ASU requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability (same treatment as debt discounts). ASU No. 2015-03 will be effective for the Company in its fiscal year ended June 30, 2017. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company currently classifies debt issuance costs as an asset, and will adopt these changes beginning July 1, 2016. ASU No. 2015-17 was issued by the FASB in November 2015 as part of the Simplification Initiative. This ASU eliminates the requirement to separate deferred income tax liabilities and assets into non-current and current amounts. ASU No. 2015-17 is effective for the Company for its annual reporting period beginning July 1, 2017 and early adoption is permitted. Management is currently considering options with regard to early adoption but has yet to conclude on an adoption date. Upon adoption, the Company will report all deferred income tax assets and liabilities as non-current.

Debt (Text Block)

Debt (Text Block)	6 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt and Capital Leases Disclosures [Text Block]	DEBT The Company’s outstanding long and short term debt is as follows: December 31, June 30, 2015 2015 LONG TERM DEBT Revolving credit facility $ 100,000 $ 50,000 Capital leases — 816 100,000 50,816 Less current maturities — 714 Debt, net of current maturities $ 100,000 $ 50,102 SHORT TERM DEBT Capital leases $ 323 $ 1,881 Current maturities of long-term debt — 714 Notes payable and current maturities of long term debt $ 323 $ 2,595 Capital leases The Company has entered into various capital lease obligations for the use of certain computer equipment. The Company currently has short term capital lease obligations totaling $323 at December 31, 2015 . Revolving credit facility The revolving credit facility allows for borrowings of up to $300,000 , which may be increased by the Company at any time until maturity to $600,000 . The credit facility bears interest at a variable rate equal to (a) a rate based on LIBOR or (b) an alternate base rate (the highest of (i) the Prime Rate for such day, (ii) the sum of the Federal Funds Effective Rate for such day plus 0.50% and (iii) the Eurocurrency Rate for a one month Interest Period on such day for dollars plus 1.0% ), plus an applicable percentage in each case determined by the Company's leverage ratio. The credit facility is guaranteed by certain subsidiaries of the Company. The credit facility is subject to various financial covenants that require the Company to maintain certain financial ratios as defined in the agreement. As of December 31, 2015 , the Company was in compliance with all such covenants. The revolving loan terminates February 20, 2020 and at December 31, 2015 , the outstanding revolving loan balance was $100,000 . Other lines of credit The Company has an unsecured bank credit line which provides for funding of up to $5,000 and bears interest at the prime rate less 1% . The credit line expires April 30, 2017 . At December 31, 2015 , no amount was outstanding. Interest The Company paid interest of $333 and $415 during the six months ended December 31, 2015 and 2014 , respectively. Property and Equipment Property and equipment included $1,940 and $3,897 in accrued liabilities or acquired via capital lease at December 31, 2015 and 2014 , respectively. These amounts were excluded from capital expenditures on the statement of cash flows.

Income Taxes (Text Block)

Income Taxes (Text Block)	6 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	INCOME TAXES The effective tax rate was 29.9% of income before income taxes for the quarter ended December 31, 2015 , compared to 32.1% for the same quarter in fiscal 2015 . The decrease in effective tax rate was primarily due to the Research and Experimentation Credit ("R&E Credit"), which was retroactively and permanently extended in December 2015. The Company paid income taxes of $52,254 and $43,450 in the six months ended December 31, 2015 and 2014 , respectively. At December 31, 2015 , the Company had $8,438 of gross unrecognized tax benefits, $6,917 of which, if recognized, would affect our effective tax rate. We had accrued interest and penalties of $1,415 and $1,652 related to uncertain tax positions at December 31, 2015 and 2014 , respectively. The U.S. federal and state income tax returns for Fiscal 2012 and all subsequent years remain subject to examination as of December 31, 2015 under statute of limitations rules. We anticipate potential changes could reduce the unrecognized tax benefits balance by $1,500 - $2,500 within twelve months of December 31, 2015 .

Stock Based Compensation (Text

Stock Based Compensation (Text Block)	6 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	STOCK-BASED COMPENSATION Our pre-tax operating income for the three months ended December 31, 2015 and 2014 includes $3,142 and $2,516 of equity-based compensation costs, respectively. For the six months ended December 31, 2015 and 2014 , equity-based compensation costs totaled $5,112 and $4,583 , respectively. 2005 NSOP and 1996 SOP The Company previously issued options to employees under the 1996 Stock Option Plan (“1996 SOP”) and to outside directors under the 2005 Non-Qualified Stock Option Plan (“2005 NSOP”). No stock options were issued by the Company during the three months ended December 31, 2015 . A summary of option plan activity under these plans are as follows: Number of Shares Weighted Average Exercise Price Aggregate Intrinsic Value Outstanding July 1, 2015 100 23.07 Granted — — Forfeited — — Exercised — — Outstanding December 31, 2015 100 $ 23.07 $ 5,499 Vested December 31, 2015 100 $ 23.07 $ 5,499 Exercisable December 31, 2015 100 $ 23.07 $ 5,499 Compensation cost related to outstanding options has now been fully recognized. The weighted average remaining contractual term on options currently exercisable as of December 31, 2015 was 2.66 years . Restricted Stock Plan The Company issues both share awards and unit awards under the Restricted Stock Plan. The following table summarizes non-vested share awards as of December 31, 2015 , as well as activity for the six months then ended: Share awards Shares Weighted Average Grant Date Fair Value Outstanding July 1, 2015 72 34.28 Granted 22 65.77 Vested (21 ) 41.89 Forfeited (11 ) 22.51 Outstanding December 31, 2015 62 $ 44.70 At December 31, 2015 , there was $1,505 of compensation expense that has yet to be recognized related to non-vested restricted stock share awards, which will be recognized over a weighted-average period of 1.12 years . The following table summarizes non-vested unit awards as of December 31, 2015 , as well as activity for the six months then ended: Unit awards Shares Weighted Average Grant Date Fair Value Outstanding July 1, 2015 499 48.13 Granted 130 75.99 Vested (97 ) 43.74 Forfeited (101 ) 45.89 Outstanding December 31, 2015 431 $ 58.06 The Company utilized a Monte Carlo pricing model customized to the specific provisions of the Company’s plan design to value unit awards subject to performance targets on the grant dates. The weighted average assumptions used in this model to estimate fair value at the measurement date and resulting values for 118 unit awards granted in fiscal 2016 are as follows: Volatility 15.6 % Risk free interest rate 1.06 % Dividend yield 1.5 % Stock Beta 0.741 The remaining 12 unit awards granted are not subject to performance targets, and therefore the estimated fair value at measurement date is valued in the same manner as restricted stock award grants. At December 31, 2015 , there was $14,838 of compensation expense that has yet to be recognized related to non-vested restricted stock unit awards, which will be recognized over a weighted-average period of 1.58 years .

Earnings Per Share Earnings Per

Earnings Per Share Earnings Per Share (Text Block)	6 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	EARNINGS PER SHARE The following table reflects the reconciliation between basic and diluted earnings per share. Three Months Ended December 31, Six Months Ended December 31, 2015 2014 2015 2014 Net Income $ 59,348 $ 53,882 $ 110,714 $ 99,969 Common share information: Weighted average shares outstanding for basic earnings per share 79,473 81,432 80,009 81,813 Dilutive effect of stock options and restricted stock 297 202 243 299 Weighted average shares outstanding for diluted earnings per share 79,770 81,634 80,252 82,112 Basic earnings per share $ 0.75 $ 0.66 $ 1.38 $ 1.22 Diluted earnings per share $ 0.74 $ 0.66 $ 1.38 $ 1.22 Per share information is based on the weighted average number of common shares outstanding for the three and six months ended December 31, 2015 and 2014 . Stock options and restricted stock have been included in the calculation of earnings per share to the extent they are dilutive. There were no anti-dilutive stock options and restricted stock shares excluded for the three month period ended December 31, 2015 ( 170 shares were excluded for the three month period ended December 31, 2014 ). For the six months ended December 31, 2015 , there were no anti-dilutive stock options and restricted stock shares excluded, and there were 134 excluded for the six months ended December 31, 2014 .

Business Acquisitions (Text Blo

Business Acquisitions (Text Block)	6 Months Ended
	Dec. 31, 2015
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Business Combination Disclosure [Text Block]	BUSINESS ACQUISITION Bayside Business Solutions, Inc. Effective July 1, 2015 , the Company acquired all of the equity interests of Bayside Business Solutions, an Alabama-based company that provides technology solutions and payment processing services primarily for the financial services industry, for $10,000 paid in cash. This acquisition was funded using existing operating cash. The acquisition of Bayside Business Solutions expanded the Company’s presence in commercial lending within the industry. Management has completed a preliminary purchase price allocation of Bayside Business Solutions and its assessment of the fair value of acquired assets and liabilities assumed. The recognized amounts of identifiable assets acquired and liabilities assumed, based upon their preliminary fair values as of July 1, 2015 are set forth below: Current assets $ 1,922 Long-term assets 253 Identifiable intangible assets 5,005 Total liabilities assumed (3,064 ) Total identifiable net assets 4,116 Goodwill 5,884 Net assets acquired $ 10,000 The amounts shown above may change in the near term as management continues to evaluate the income tax implications of this business combination. The goodwill of $5,884 arising from this acquisition consists largely of the growth potential, synergies and economies of scale expected from combining the operations of the Company with those of Bayside Business Solutions, together with the value of Bayside Business Solutions’ assembled workforce. Goodwill from this acquisition, none of which is expected to be deductible for income tax purposes, has been allocated in our Banking Systems and Services segment, as we have commenced our integration of this company within that reporting unit. Identifiable intangible assets from this acquisition consist of customer relationships of $3,402 , $659 of computer software and other intangible assets of $944 . The weighted average amortization period for acquired customer relationships, acquired computer software, and other intangible assets is 15 years , 5 years , and 20 years , respectively. Current assets were inclusive of cash acquired of $1,725 . The fair value of current assets acquired included accounts receivable of $178 . The gross amount of receivables was $178 , none of which was expected to be uncollectible. During fiscal year 2016, the Company incurred $55 in costs related to the acquisition of Bayside Business Solutions. These costs included fees for legal, valuation and other fees. These costs were included within general and administrative expenses. The results of Bayside Business Solutions’ operations included in the Company’s consolidated statement of operations for the six months ended December 31, 2015 included revenue of $1,730 and after-tax net loss of $310 . The impact of this acquisition was considered immaterial to both the current and prior periods of our consolidated financial statements and pro forma financial information has not been provided.

Business Segment Information (T

Business Segment Information (Text Block)	6 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	SEGMENT INFORMATION The Company is a provider of integrated computer systems that perform data processing (available for in-house installations or outsourced services) for banks and credit unions. The Company’s operations are classified into two reportable segments: bank systems and services (“Bank”) and credit union systems and services (“Credit Union”). The Company evaluates the performance of its segments and allocates resources to them based on various factors, including prospects for growth, return on investment, and return on revenue. Three Months Ended Three Months Ended December 31, 2015 December 31, 2014 Bank Credit Union Total Bank Credit Union Total REVENUE License $ 563 $ 71 $ 634 $ 288 $ 203 $ 491 Support and service 232,731 87,488 320,219 229,107 67,798 296,905 Hardware 7,735 4,284 12,019 10,130 3,768 13,898 Total revenue 241,029 91,843 332,872 239,525 71,769 311,294 COST OF SALES Cost of license 448 50 498 184 124 308 Cost of support and service 137,787 44,202 181,989 134,034 36,343 170,377 Cost of hardware 4,979 2,979 7,958 6,887 2,687 9,574 Total cost of sales 143,214 47,231 190,445 141,105 39,154 180,259 GROSS PROFIT $ 97,815 $ 44,612 142,427 98,420 32,615 131,035 OPERATING EXPENSES 57,640 51,370 INTEREST INCOME (EXPENSE) (185 ) (309 ) INCOME BEFORE INCOME TAXES $ 84,602 $ 79,356 Six Months Ended Six Months Ended December 31, 2015 December 31, 2014 Bank Credit Union Total Bank Credit Union Total REVENUE License $ 1,809 $ 428 $ 2,237 $ 729 $ 265 $ 994 Support and service 460,354 167,612 627,966 450,322 134,799 585,121 Hardware 15,579 8,708 24,287 19,874 6,778 26,652 Total revenue 477,742 176,748 654,490 470,925 141,842 612,767 COST OF SALES Cost of license 562 118 680 550 167 717 Cost of support and service 273,153 83,550 356,703 262,920 72,547 335,467 Cost of hardware 10,532 6,194 16,726 14,058 4,901 18,959 Total cost of sales 284,247 89,862 374,109 277,528 77,615 355,143 GROSS PROFIT $ 193,495 $ 86,886 $ 280,381 $ 193,397 $ 64,227 257,624 OPERATING EXPENSES 115,057 106,335 INTEREST INCOME (EXPENSE) (292 ) (518 ) INCOME BEFORE INCOME TAXES $ 165,032 $ 150,771 December 31, June 30, 2015 2015 Property and equipment, net Bank systems and services $ 269,682 $ 263,231 Credit Union systems and services 32,409 33,101 Total $ 302,091 $ 296,332 Intangible assets, net Bank systems and services $ 699,015 $ 664,231 Credit Union systems and services 229,102 233,918 Total $ 928,117 $ 898,149 The Company has not disclosed any additional asset information by segment, as the information is not produced internally and its preparation is impracticable.

Nature of Operations and Summ15

Nature of Operations and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Consolidation	Consolidation The condensed consolidated financial statements include the accounts of JHA and all of its subsidiaries, which are wholly-owned, and all intercompany accounts and transactions have been eliminated.
Common Stock	Common Stock The Board of Directors has authorized the Company to repurchase shares of its common stock. Under this authorization, the Company may finance its share repurchases with available cash reserves or short-term borrowings on its existing credit facilities. The share repurchase program does not include specific price targets or timetables and may be suspended at any time. At December 31, 2015 , there were 23,962 shares in treasury stock and the Company had the remaining authority to repurchase up to 6,028 additional shares. The total cost of treasury shares at December 31, 2015 is $855,594 . During the first six months of fiscal 2016 , the Company repurchased 2,120 treasury shares for $155,122 . At June 30, 2015 , there were 21,843 shares in treasury stock and the Company had authority to repurchase up to 8,148 additional shares. Dividends declared per share were $0.25 and $0.22 , for the three months ended December 31, 2015 and 2014 , respectively.

Fair Value of Financial Instr16

Fair Value of Financial Instruments Fair Value of Financial Instruments (Policies)	6 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments, Policy [Policy Text Block]	For cash equivalents, amounts receivable or payable and short-term borrowings, fair values approximate carrying value, based on the short-term nature of the assets and liabilities. The fair value of long term debt also approximates carrying value as estimated using discounted cash flows based on the Company’s current incremental borrowing rates. The Company's estimates of the fair value for financial assets and financial liabilities are based on the framework established in the fair value accounting guidance. The framework is based on the inputs used in valuation, gives the highest priority to quoted prices in active markets, and requires that observable inputs be used in the valuations when available. The three levels of the hierarchy are as follows: Level 1: inputs to the valuation are quoted prices in an active market for identical assets Level 2: inputs to the valuation include quoted prices for similar assets in active markets that are observable either directly or indirectly Level 3: valuation is based on significant inputs that are unobservable in the market and the Company's own estimates of assumptions that we believe market participants would use in pricing the asset

Fair Value of Financial Instr17

Fair Value of Financial Instruments Fair Value of Financial Instruments (Tables)	6 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Fair value of financial assets, included in cash and cash equivalents, and financial liabilities is as follows: Estimated Fair Value Measurements Total Fair Level 1 Level 2 Level 3 Value December 31, 2015 Financial Assets: Money market funds $ 23,854 $ — $ — $ 23,854 Financial Liabilities: Revolving credit facility $ — $ 100,000 $ — $ 100,000 June 30, 2015 Financial Assets: Money market funds $ 98,888 $ — $ — $ 98,888 Financial Liabilities: Revolving credit facility $ — $ 50,000 $ — $ 50,000

Debt (Tables)

Debt (Tables)	6 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	The Company’s outstanding long and short term debt is as follows: December 31, June 30, 2015 2015 LONG TERM DEBT Revolving credit facility $ 100,000 $ 50,000 Capital leases — 816 100,000 50,816 Less current maturities — 714 Debt, net of current maturities $ 100,000 $ 50,102
Schedule of Short-term Debt [Table Text Block]	SHORT TERM DEBT Capital leases $ 323 $ 1,881 Current maturities of long-term debt — 714 Notes payable and current maturities of long term debt $ 323 $ 2,595

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	A summary of option plan activity under these plans are as follows: Number of Shares Weighted Average Exercise Price Aggregate Intrinsic Value Outstanding July 1, 2015 100 23.07 Granted — — Forfeited — — Exercised — — Outstanding December 31, 2015 100 $ 23.07 $ 5,499 Vested December 31, 2015 100 $ 23.07 $ 5,499 Exercisable December 31, 2015 100 $ 23.07 $ 5,499
Schedule of Nonvested Restricted Stock Activity [Table Text Block]	The following table summarizes non-vested share awards as of December 31, 2015 , as well as activity for the six months then ended: Share awards Shares Weighted Average Grant Date Fair Value Outstanding July 1, 2015 72 34.28 Granted 22 65.77 Vested (21 ) 41.89 Forfeited (11 ) 22.51 Outstanding December 31, 2015 62 $ 44.70
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	The following table summarizes non-vested unit awards as of December 31, 2015 , as well as activity for the six months then ended: Unit awards Shares Weighted Average Grant Date Fair Value Outstanding July 1, 2015 499 48.13 Granted 130 75.99 Vested (97 ) 43.74 Forfeited (101 ) 45.89 Outstanding December 31, 2015 431 $ 58.06
ScheduleOfShareBasedPaymentAwardRSUValuationAssumptionsTableTextBlock [Table Text Block]	The weighted average assumptions used in this model to estimate fair value at the measurement date and resulting values for 118 unit awards granted in fiscal 2016 are as follows: Volatility 15.6 % Risk free interest rate 1.06 % Dividend yield 1.5 % Stock Beta 0.741

Earnings Per Share Earnings P20

Earnings Per Share Earnings Per Share (Tables)	6 Months Ended
	Dec. 31, 2015
Earnings Per Share, Basic and Diluted [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table reflects the reconciliation between basic and diluted earnings per share. Three Months Ended December 31, Six Months Ended December 31, 2015 2014 2015 2014 Net Income $ 59,348 $ 53,882 $ 110,714 $ 99,969 Common share information: Weighted average shares outstanding for basic earnings per share 79,473 81,432 80,009 81,813 Dilutive effect of stock options and restricted stock 297 202 243 299 Weighted average shares outstanding for diluted earnings per share 79,770 81,634 80,252 82,112 Basic earnings per share $ 0.75 $ 0.66 $ 1.38 $ 1.22 Diluted earnings per share $ 0.74 $ 0.66 $ 1.38 $ 1.22

Business Acquisitions (Tables)

Business Acquisitions (Tables)	6 Months Ended
	Dec. 31, 2015
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	The recognized amounts of identifiable assets acquired and liabilities assumed, based upon their preliminary fair values as of July 1, 2015 are set forth below: Current assets $ 1,922 Long-term assets 253 Identifiable intangible assets 5,005 Total liabilities assumed (3,064 ) Total identifiable net assets 4,116 Goodwill 5,884 Net assets acquired $ 10,000

Business Segment Information 22

Business Segment Information (Tables)	6 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Three Months Ended Three Months Ended December 31, 2015 December 31, 2014 Bank Credit Union Total Bank Credit Union Total REVENUE License $ 563 $ 71 $ 634 $ 288 $ 203 $ 491 Support and service 232,731 87,488 320,219 229,107 67,798 296,905 Hardware 7,735 4,284 12,019 10,130 3,768 13,898 Total revenue 241,029 91,843 332,872 239,525 71,769 311,294 COST OF SALES Cost of license 448 50 498 184 124 308 Cost of support and service 137,787 44,202 181,989 134,034 36,343 170,377 Cost of hardware 4,979 2,979 7,958 6,887 2,687 9,574 Total cost of sales 143,214 47,231 190,445 141,105 39,154 180,259 GROSS PROFIT $ 97,815 $ 44,612 142,427 98,420 32,615 131,035 OPERATING EXPENSES 57,640 51,370 INTEREST INCOME (EXPENSE) (185 ) (309 ) INCOME BEFORE INCOME TAXES $ 84,602 $ 79,356 Six Months Ended Six Months Ended December 31, 2015 December 31, 2014 Bank Credit Union Total Bank Credit Union Total REVENUE License $ 1,809 $ 428 $ 2,237 $ 729 $ 265 $ 994 Support and service 460,354 167,612 627,966 450,322 134,799 585,121 Hardware 15,579 8,708 24,287 19,874 6,778 26,652 Total revenue 477,742 176,748 654,490 470,925 141,842 612,767 COST OF SALES Cost of license 562 118 680 550 167 717 Cost of support and service 273,153 83,550 356,703 262,920 72,547 335,467 Cost of hardware 10,532 6,194 16,726 14,058 4,901 18,959 Total cost of sales 284,247 89,862 374,109 277,528 77,615 355,143 GROSS PROFIT $ 193,495 $ 86,886 $ 280,381 $ 193,397 $ 64,227 257,624 OPERATING EXPENSES 115,057 106,335 INTEREST INCOME (EXPENSE) (292 ) (518 ) INCOME BEFORE INCOME TAXES $ 165,032 $ 150,771
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	December 31, June 30, 2015 2015 Property and equipment, net Bank systems and services $ 269,682 $ 263,231 Credit Union systems and services 32,409 33,101 Total $ 302,091 $ 296,332 Intangible assets, net Bank systems and services $ 699,015 $ 664,231 Credit Union systems and services 229,102 233,918 Total $ 928,117 $ 898,149

Nature of Operations and Summ23

Nature of Operations and Summary of Significant Accounting Policies Treasury Stock (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2015
Class of Stock Disclosures [Abstract]
Treasury Stock, Value	$ 855,594		$ 700,472
Treasury Stock, Shares, Acquired	2,120,000
Payments for Repurchase of Common Stock	$ 155,122	$ 112,803
Treasury Stock, Shares	23,962,117		21,842,632
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	6,028,000		8,148,000

Nature of Operations and Summ24

Nature of Operations and Summary of Significant Accounting Policies Dividends Paid Per Share (Details) - $ / shares	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Equity [Abstract]
Dividends declared per share	$ 0.25	$ 0.22	$ 0.50	$ 0.44

Nature of Operations and Summ25

Nature of Operations and Summary of Significant Accounting Policies Litigation (Details)	1 Months Ended
	May. 31, 2013patent
DataTreasury Corporation Lawsuit [Member]
Loss Contingencies [Line Items]
Loss Contingency, Patents Allegedly Infringed, Number	2

Fair Value of Financial Instr26

Fair Value of Financial Instruments Fair Value of Financial Instruments (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	$ 23,854	$ 98,888
Lines of Credit, Fair Value Disclosure	100,000	50,000
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	23,854	98,888
Lines of Credit, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Lines of Credit, Fair Value Disclosure	100,000	50,000
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Lines of Credit, Fair Value Disclosure	$ 0	$ 0

Debt Long Term (Details)

Debt Long Term (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
LONG TERM DEBT
Capital leases	$ 0	$ 816
Long Term Debt	100,000	50,816
Less current maturities	0	714
Debt, net of current maturities	100,000	50,102
Revolving Credit Facility [Member] | Line of Credit [Member]
LONG TERM DEBT
Revolving credit facility	$ 100,000	$ 50,000

Debt Short Term (Details)

Debt Short Term (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Short-term Debt [Abstract]
Capital leases	$ 323	$ 1,881
Current maturities of long-term debt	0	714
Notes payable and current maturities of long term debt	$ 323	$ 2,595

Debt Narrative (Details)

Debt Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2015
Debt Instrument [Line Items]
Capital leases - short term	$ 323		$ 1,881
Interest Paid	333	$ 415
Capital Expenditures Incurred but Not yet Paid	1,940	$ 3,897
Unsecured Debt [Member]
Debt Instrument [Line Items]
Unsecured Loan, Unused Borrowing Capacity	$ 5,000
Unsecured Loan, Maturity Date	Apr. 30, 2017
Unsecured Loan, Amount Outstanding	$ 0
Revolving Credit Facility [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Revolving Credit Facility, Current Borrowing Capacity	300,000
Revolving Credit Facility, Maximum Borrowing Capacity	$ 600,000
Revolving Credit Facility, Expiration Date	Feb. 20, 2020
Long-term Debt	$ 100,000		$ 50,000
Federal Funds Effective Swap Rate [Member] | Revolving Credit Facility [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	0.50%
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.00%
Prime Rate [Member] | Unsecured Debt [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.00%

Income Taxes Narrative (Details

Income Taxes Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Effective Income Tax Rate Reconciliation, Percent	29.90%	32.10%
Income Taxes Paid			$ 52,254	$ 43,450
Unrecognized Tax Benefits	$ 8,438		8,438
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	6,917		6,917
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	1,415	$ 1,652	1,415	$ 1,652
Minimum [Member]
Expiration of statutes of limitations impact on UTB balance	1,500		1,500
Maximum [Member]
Expiration of statutes of limitations impact on UTB balance	$ 2,500		$ 2,500

Stock Based Compensation Narrat

Stock Based Compensation Narrative (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 3,142	$ 2,516	$ 5,112	$ 4,583
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining contractual term			2 years 241 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense yet to be recognized	14,838		$ 14,838
Compensation expense yet to be recognized, period for recognition			1 year 212 days
Granted, number of shares			130
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense yet to be recognized	$ 1,505		$ 1,505
Compensation expense yet to be recognized, period for recognition			1 year 44 days
Granted, number of shares			22
Fair value under Monte Carlo [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, number of shares			118
Fair value on grant date less PV of dividends [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, number of shares			12

Stock Based Compensation Stock

Stock Based Compensation Stock Options (Details) - Stock Options [Member] $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, period start, number of shares | shares	100
Granted, number of shares | shares	0
Forfeited, number of shares | shares	0
Exercised, number of shares | shares	0
Outstanding, period end, number of shares | shares	100
Outstanding, period start, weighted average exercise price | $ / shares	$ 23.07
Granted, weighted average exercise price | $ / shares	0
Forfeited, weighted average exercise price | $ / shares	0
Exercised, weighted average exercise price | $ / shares	0
Outstanding, period end, weighted average exercise price | $ / shares	$ 23.07
Outstanding, period end, intrinsic value | $	$ 5,499
Vested, period end, number of shares | shares	100
Vested, period end, weighted average exercise price | $ / shares	$ 23.07
Vested, period end, intrinsic value | $	$ 5,499
Exercisable, period end, number of shares | shares	100
Exercisable, period end, weighted average exercise price | $ / shares	$ 23.07
Exercisable, period end, intrinsic value | $	$ 5,499

Stock Based Compensation Restri

Stock Based Compensation Restricted Stock Share Awards (Details) - Restricted Stock [Member] shares in Thousands	6 Months Ended
	Dec. 31, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, period start, number of shares | shares	72
Granted, number of shares | shares	22
Vested, number of shares | shares	(21)
Forfeited, number of shares | shares	(11)
Outstanding, period end, number of shares | shares	62
Outstanding, period start, weighted average grant date fair value | $ / shares	$ 34.28
Granted, weighted average grant date fair value | $ / shares	65.77
Vested, weighted average grant date fair value | $ / shares	41.89
Forfeited, weighted average grant date fair value | $ / shares	22.51
Outstanding, period end, weighted average grant date fair value | $ / shares	$ 44.70

Stock Based Compensation Rest34

Stock Based Compensation Restricted Stock Unit Awards (Details) - Restricted Stock Units (RSUs) [Member] shares in Thousands	6 Months Ended
	Dec. 31, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, period start, number of shares | shares	499
Granted, number of shares | shares	130
Vested, number of shares | shares	(97)
Forfeited, number of shares | shares	(101)
Outstanding, period end, number of shares | shares	431
Outstanding, period start, weighted average grant date fair value | $ / shares	$ 48.13
Granted, weighted average grant date fair value | $ / shares	75.99
Vested, weighted average grant date fair value | $ / shares	43.74
Forfeited, weighted average grant date fair value | $ / shares	45.89
Outstanding, period end, weighted average grant date fair value | $ / shares	$ 58.06

Stock Based Compensation RSU Me

Stock Based Compensation RSU Measurement Date Assumptions (Details) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Dec. 31, 2015
RSU grant date weighted average fair value assumptions
Volatility	15.60%
Risk free interest rate	1.06%
Dividend yield	1.50%
Stock Beta	0.741

Earnings Per Share Earnings P36

Earnings Per Share Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net Income	$ 59,348	$ 53,882	$ 110,714	$ 99,969
Common share information:
Weighted average shares outstanding for basic earnings per share	79,473	81,432	80,009	81,813
Dilutive effect of stock options and restricted stock	297	202	243	299
Weighted average shares outstanding for diluted earnings per share	79,770	81,634	80,252	82,112
Basic earnings per share	$ 0.75	$ 0.66	$ 1.38	$ 1.22
Diluted earnings per share	$ 0.74	$ 0.66	$ 1.38	$ 1.22
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	170	0	134

Business Acquisitions (Details)

Business Acquisitions (Details) - USD ($) $ in Thousands	Jul. 01, 2015	Dec. 31, 2015	Jun. 30, 2015
Business Acquisition [Line Items]
Goodwill		$ 556,256	$ 550,366
Business Acquisition, Bayside Business Solutions [Member]
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition	Jul. 1, 2015
Payments to Acquire Businesses, Gross	$ 10,000
Current assets	1,922
Long-term assets	253
Identifiable intangible assets	5,005
Total liabilities assumed	(3,064)
Total identifiable net assets	4,116
Goodwill	5,884
Net assets acquired	$ 10,000
Business Acquisition, Purchase Price Allocation, Goodwill, Expected Tax Deductible Percent	0.00%
Cash Acquired from Acquisition	$ 1,725
Business Combination, Acquired Receivables, Fair Value	178
Business Combination, Acquired Receivables, Gross Contractual Amount	178
Business Combination, Acquired Receivables, Estimated Uncollectible	0
Business Acquisition, Transaction Costs	55
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual	1,730
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual	(310)
Customer Relationships [Member] | Business Acquisition, Bayside Business Solutions [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 3,402
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years
Computer Software, Intangible Asset [Member] | Business Acquisition, Bayside Business Solutions [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 659
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years
Other Intangible Assets [Member] | Business Acquisition, Bayside Business Solutions [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 944
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	20 years

Business Segment Information Na

Business Segment Information Narrative (Details)	6 Months Ended
	Dec. 31, 2015segment
Segment Reporting [Abstract]
Number of Reportable Segments	2

Business Segment Information Re

Business Segment Information Reconciliation of Operating Profit by Segment to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
REVENUE
License	$ 634	$ 491	$ 2,237	$ 994
Support and service	320,219	296,905	627,966	585,121
Hardware	12,019	13,898	24,287	26,652
Total revenue	332,872	311,294	654,490	612,767
COST OF SALES
Cost of license	498	308	680	717
Cost of support and service	181,989	170,377	356,703	335,467
Cost of hardware	7,958	9,574	16,726	18,959
Total cost of sales	190,445	180,259	374,109	355,143
GROSS PROFIT	142,427	131,035	280,381	257,624
Total operating expenses	57,640	51,370	115,057	106,335
Total interest income (expense)	(185)	(309)	(292)	(518)
INCOME BEFORE INCOME TAXES	84,602	79,356	165,032	150,771
Banking Systems and Services [Member]
REVENUE
License	563	288	1,809	729
Support and service	232,731	229,107	460,354	450,322
Hardware	7,735	10,130	15,579	19,874
Total revenue	241,029	239,525	477,742	470,925
COST OF SALES
Cost of license	448	184	562	550
Cost of support and service	137,787	134,034	273,153	262,920
Cost of hardware	4,979	6,887	10,532	14,058
Total cost of sales	143,214	141,105	284,247	277,528
GROSS PROFIT	97,815	98,420	193,495	193,397
Credit Union Systems and Services [Member]
REVENUE
License	71	203	428	265
Support and service	87,488	67,798	167,612	134,799
Hardware	4,284	3,768	8,708	6,778
Total revenue	91,843	71,769	176,748	141,842
COST OF SALES
Cost of license	50	124	118	167
Cost of support and service	44,202	36,343	83,550	72,547
Cost of hardware	2,979	2,687	6,194	4,901
Total cost of sales	47,231	39,154	89,862	77,615
GROSS PROFIT	$ 44,612	$ 32,615	$ 86,886	$ 64,227

Business Segment Information 40

Business Segment Information Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Segment Reporting, Asset Reconciling Items
Property and equipment, net	$ 302,091	$ 296,332
Intangible assets, net	928,117	898,149
Banking Systems and Services [Member]
Segment Reporting, Asset Reconciling Items
Property and equipment, net	269,682	263,231
Intangible assets, net	699,015	664,231
Credit Union Systems and Services [Member]
Segment Reporting, Asset Reconciling Items
Property and equipment, net	32,409	33,101
Intangible assets, net	$ 229,102	$ 233,918