Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2018 | Aug. 09, 2018 | Dec. 31, 2017 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Jun. 30, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Trading Symbol | rmd | ||
Entity Registrant Name | RESMED INC | ||
Entity Central Index Key | 943,819 | ||
Current Fiscal Year End Date | --06-30 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Public Float | $ 12,028,140,357 | ||
Entity Common Stock, Shares Outstanding | 142,684,034 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 188,701 | $ 821,935 |
Accounts receivable, net of allowance for doubtful accounts of $19,258 and $11,150 at June 30, 2018 and June 30, 2017, respectively | 483,681 | 450,530 |
Inventories (note 4) | 268,701 | 268,319 |
Prepaid expenses and other current assets | 124,634 | 103,219 |
Total current assets | 1,065,717 | 1,644,003 |
Non-current assets: | ||
Property, plant and equipment, net (note 5) | 386,550 | 394,241 |
Goodwill (note 6) | 1,068,944 | 1,064,874 |
Other intangible assets, net (note 6) | 215,184 | 261,800 |
Deferred income taxes (note 14) | 53,818 | 61,503 |
Prepaid taxes and other non-current assets | 273,710 | 42,066 |
Total non-current assets | 1,998,206 | 1,824,484 |
Total assets | 3,063,923 | 3,468,487 |
Current liabilities: | ||
Accounts payable | 92,723 | 92,763 |
Accrued expenses | 185,805 | 186,295 |
Deferred revenue | 60,828 | 51,918 |
Income taxes payable (note 14) | 160,427 | 29,150 |
Short-term debt, net (note 10) | 11,466 | |
Total current liabilities | 511,249 | 360,126 |
Non-current liabilities: | ||
Deferred revenue | 71,596 | 53,235 |
Deferred income taxes (note 14) | 13,084 | 13,822 |
Other long-term liabilities | 924 | 2,427 |
Long-term debt, net (note 10) | 269,988 | 1,078,611 |
Long-term income taxes payable (note 14) | 138,102 | |
Total non-current liabilities | 493,694 | 1,148,095 |
Total liabilities | 1,004,943 | 1,508,221 |
Commitments and contingencies (note 19) | ||
Stockholders’ equity: (note 11) | ||
Preferred stock, $0.01 par value, 2,000,000 shares authorized; none issued | ||
Common stock, $0.004 par value, 350,000,000 shares authorized; 184,315,866 issued and 142,679,632 outstanding at June 30, 2018 and 183,260,958 issued and 142,174,724 outstanding at June 30, 2017 | 571 | 569 |
Additional paid-in capital | 1,450,821 | 1,379,130 |
Retained earnings | 2,432,328 | 2,316,237 |
Treasury stock, at cost, 41,636,234 shares at June 30, 2018 and 41,086,234 shares at June 30, 2017 | (1,600,412) | (1,546,611) |
Accumulated other comprehensive loss | (224,328) | (189,059) |
Total stockholders' equity | 2,058,980 | 1,960,266 |
Total liabilities and stockholders' equity | $ 3,063,923 | $ 3,468,487 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Consolidated Balance Sheets [Abstract] | ||
Accounts receivable, net allowance for doubtful accounts | $ 19,258 | $ 11,150 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 2,000,000 | 2,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $ 0.004 | $ 0.004 |
Common stock, shares authorized | 350,000,000 | 350,000,000 |
Common stock, shares issued | 184,315,866 | 183,260,958 |
Common stock, shares outstanding | 142,679,632 | 142,174,724 |
Treasury stock, shares held | 41,636,234 | 41,086,234 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Consolidated Statements Of Income [Abstract] | |||
Net revenue | $ 2,340,196 | $ 2,066,737 | $ 1,838,713 |
Cost of sales (excluding amortization of acquired intangible assets) | 978,032 | 864,992 | 772,216 |
Gross profit | 1,362,164 | 1,201,745 | 1,066,497 |
Operating expenses: | |||
Selling, general and administrative | 600,369 | 553,968 | 488,057 |
Research and development | 155,149 | 144,467 | 118,651 |
Amortization of acquired intangible assets | 46,383 | 46,578 | 23,923 |
Restructuring expenses (note 23) | 18,432 | 12,358 | 6,914 |
Litigation settlement expenses (note 24) | 8,500 | ||
Acquisition related expenses (note 20) | 10,076 | ||
Total operating expenses | 820,333 | 775,947 | 637,545 |
Income from operations | 541,831 | 425,798 | 428,952 |
Other income (loss), net: | |||
Interest income | 16,378 | 17,085 | 16,860 |
Interest expense | (28,355) | (28,236) | (11,206) |
Other, net | (8,542) | 4,096 | 4,960 |
Total other income (loss), net | (20,519) | (7,055) | 10,614 |
Income before income taxes | 521,312 | 418,743 | 439,566 |
Income taxes | 205,724 | 76,459 | 87,157 |
Net income | $ 315,588 | $ 342,284 | $ 352,409 |
Basic earnings per share (note 12) | $ 2.21 | $ 2.42 | $ 2.51 |
Diluted earnings per share (note 12) | 2.19 | 2.40 | 2.49 |
Dividend declared per share | $ 1.40 | $ 1.32 | $ 1.20 |
Basic shares outstanding (000's) | 142,764 | 141,360 | 140,242 |
Diluted shares outstanding (000's) | 143,987 | 142,453 | 141,669 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Consolidated Statements Of Comprehensive Income [Abstract] | |||
Net income | $ 315,588 | $ 342,284 | $ 352,409 |
Other comprehensive (loss) income: | |||
Foreign currency translation (loss) gain adjustments | (35,269) | 33,599 | (49,142) |
Comprehensive income | $ 280,319 | $ 375,883 | $ 303,267 |
Consolidated Statements Of Stoc
Consolidated Statements Of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-In Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
Beginning balance at Jun. 30, 2015 | $ 562 | $ 1,228,795 | $ (1,444,554) | $ 1,976,020 | $ (173,516) | $ 1,587,307 |
Beginning balance, shares at Jun. 30, 2015 | 179,661,000 | (39,186,000) | ||||
Common stock issued on exercise of options (note 12) | $ 5 | 26,247 | 26,252 | |||
Common stock issued on exercise of options, shares (note 12) | 1,176,000 | |||||
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (note 12) | $ 3 | (12,388) | (12,385) | |||
Common stock issued on vesting of restricted stock units, net of shares withheld for tax, shares (note 12) | 619,000 | |||||
Common stock issued on employee stock purchase plan (note 12) | $ 1 | 14,081 | 14,082 | |||
Common stock issued on employee stock purchase plan, shares (note 12) | 291,000 | |||||
Treasury stock purchases | $ (8) | $ (102,057) | (102,065) | |||
Treasury stock purchases, shares | (1,900,000) | |||||
Stock-based compensation costs | 46,503 | 46,503 | ||||
Other comprehensive income | (49,142) | (49,142) | ||||
Net income | 352,409 | 352,409 | ||||
Dividends declared | (168,130) | (168,130) | ||||
Ending balance at Jun. 30, 2016 | $ 563 | 1,303,238 | $ (1,546,611) | 2,160,299 | (222,658) | 1,694,831 |
Ending balance, shares at Jun. 30, 2016 | 181,747,000 | (41,086,000) | ||||
Common stock issued on exercise of options (note 12) | $ 3 | 22,246 | 22,249 | |||
Common stock issued on exercise of options, shares (note 12) | 740,000 | |||||
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (note 12) | $ 2 | (8,159) | (8,157) | |||
Common stock issued on vesting of restricted stock units, net of shares withheld for tax, shares (note 12) | 447,000 | |||||
Common stock issued on employee stock purchase plan (note 12) | $ 1 | 15,884 | 15,885 | |||
Common stock issued on employee stock purchase plan, shares (note 12) | 327,000 | |||||
Stock-based compensation costs | 45,921 | 45,921 | ||||
Other comprehensive income | 33,599 | 33,599 | ||||
Net income | 342,284 | 342,284 | ||||
Dividends declared | (186,346) | (186,346) | ||||
Ending balance at Jun. 30, 2017 | $ 569 | 1,379,130 | $ (1,546,611) | 2,316,237 | (189,059) | 1,960,266 |
Ending balance, shares at Jun. 30, 2017 | 183,261,000 | (41,086,000) | ||||
Common stock issued on exercise of options (note 12) | $ 2 | 18,759 | $ 18,761 | |||
Common stock issued on exercise of options, shares (note 12) | 539,000 | 538,568 | ||||
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (note 12) | $ 1 | (15,385) | $ (15,384) | |||
Common stock issued on vesting of restricted stock units, net of shares withheld for tax, shares (note 12) | 214,000 | |||||
Common stock issued on employee stock purchase plan (note 12) | $ 1 | 19,955 | 19,956 | |||
Common stock issued on employee stock purchase plan, shares (note 12) | 302,000 | |||||
Treasury stock purchases | $ (2) | $ (53,801) | (53,803) | |||
Treasury stock purchases, shares | (550,000) | |||||
Stock-based compensation costs | 48,362 | 48,362 | ||||
Other comprehensive income | (35,269) | (35,269) | ||||
Net income | 315,588 | 315,588 | ||||
Dividends declared | (199,497) | (199,497) | ||||
Ending balance at Jun. 30, 2018 | $ 571 | $ 1,450,821 | $ (1,600,412) | $ 2,432,328 | $ (224,328) | $ 2,058,980 |
Ending balance, shares at Jun. 30, 2018 | 184,316,000 | (41,636,000) |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Cash flows from operating activities: | |||
Net income | $ 315,588 | $ 342,284 | $ 352,409 |
Adjustment to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 119,960 | 112,157 | 86,849 |
Stock-based compensation costs | 48,412 | 45,925 | 46,408 |
Impairment of long lived assets | 2,815 | ||
Impairment of cost-method investments | 11,593 | 1,955 | 750 |
Changes in fair value of business combination contingent consideration (note 20) | 411 | 10,076 | (2,986) |
Payment of business combination contingent consideration (note 20) | (8,460) | ||
Changes in operating assets and liabilities, net of effect of acquisitions: | |||
Accounts receivable | (32,356) | (63,604) | (27,307) |
Inventories | 1,494 | (41,599) | 30,492 |
Prepaid expenses, net deferred income taxes and other current assets | (160,726) | (19,257) | 12,121 |
Accounts payable, accrued expenses and other | 200,650 | 34,576 | 46,382 |
Net cash provided by operating activities | 505,026 | 414,053 | 547,933 |
Cash flows from investing activities: | |||
Purchases of property, plant and equipment | (62,581) | (62,219) | (58,534) |
Patent registration costs | (8,876) | (9,257) | (9,295) |
Business acquisitions, net of cash acquired | (902) | (7,274) | (1,041,864) |
Investment in cost-method investments | (14,495) | (6,464) | (8,965) |
Proceeds from disposal of cost-method investments | 468 | ||
Proceeds (payments) on maturity of foreign currency contracts | (14,970) | 3,324 | (7,564) |
Net cash used in investing activities | (101,824) | (81,890) | (1,125,754) |
Cash flows from financing activities: | |||
Proceeds from issuance of common stock, net | 23,332 | 30,161 | 27,694 |
Purchases of treasury stock | (53,801) | (102,058) | |
Payments of business combination contingent consideration (note 20) | (486) | (11,682) | (1,228) |
Proceeds from borrowings, net of borrowing costs | 350,000 | 450,000 | 1,140,000 |
Repayment of borrowings | (1,146,242) | (545,000) | (283,694) |
Dividend paid | (199,497) | (186,346) | (168,130) |
Net cash used in financing activities | (1,026,694) | (262,867) | 612,584 |
Effect of exchange rate changes on cash | (9,742) | 21,205 | (20,578) |
Net increaase (decrease) in cash and cash equivalents | (633,234) | 90,501 | 14,185 |
Cash and cash equivalents at beginning of period | 821,935 | 731,434 | 717,249 |
Cash and cash equivalents at end of period | 188,701 | 821,935 | 731,434 |
Supplemental disclosure of cash flow information: | |||
Income taxes paid, net of refunds | 170,653 | 92,901 | 68,966 |
Interest paid | 28,355 | 28,236 | 11,206 |
Fair value of assets acquired, excluding cash | 290 | 10,460 | 338,353 |
Liabilities assumed | (877) | (79,808) | |
Goodwill on acquisition | 247 | (645) | 796,306 |
Deferred payments | 365 | (84) | 120 |
Fair value of contingent consideration | (1,580) | (13,107) | |
Total cash component of purchase price | $ 902 | $ 7,274 | $ 1,041,864 |
Organization And Basis Of Prese
Organization And Basis Of Presentation | 12 Months Ended |
Jun. 30, 2018 | |
Organization And Basis Of Presentation [Abstract] | |
Organization And Basis Of Presentation | (1) Organization and Basis of Presentation ResMed Inc. (referred to herein as “we”, “us”, “our” or the “Company”) is a Delaware corporation formed in March 1994 as a holding company for the ResMed Group. Through our subsidiaries, we design, manufacture and market equipment for the diagnosis and treatment of sleep-disordered breathing and other respiratory disorders, including obstructive sleep apnea. Our manufacturing operations are located in Australia, China, Singapore, Malaysia, France and the United States. Major distribution and sales sites are located in the United States, Germany, France, the United Kingdom, Switzerland, Australia, Japan, China, Norway and Sweden. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2018 | |
Summary Of Significant Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | (2) Summary of Significant Accounting Policies  (a) Basis of Consolidation  The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant inter-company transactions and balances have been eliminated in consolidation.  The preparation of financial statements in conformity with U.S. generally accounting principles requires management estimates and assumptions that affect amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from management’s estimates.  (b) Revenue Recognition  We generally record revenue on product sales at the time of shipment, which is when title transfers to the customer. We do not record revenue on product sales which require customer acceptance until we receive acceptance. We initially defer service revenue received in advance from service contracts and recognize that deferred revenue ratably over the life of the service contract. We initially defer revenue we receive in advance from rental unit contracts and recognize that deferred revenue ratably over the life of the rental contract. Otherwise, we recognize revenue from rental unit contracts ratably over the life of the rental contract. We include in revenue freight charges we bill to customers. We charge all freight-related expenses to cost of sales. Taxes assessed by government authorities that are imposed on and concurrent with revenue-producing transactions, such as sales and value added taxes, are excluded from revenue.  We do not recognize revenues to the extent that we offer a right of return or other recourse with respect to the sale of our products, other than returns for product defects or other warranty claims, nor do we recognize revenues if we offer variable sale prices for subsequent events or activities. However, as part of our sales processes we may provide upfront discounts for large orders, one-time special pricing to support new product introductions, sales rebates for centralized purchasing entities or price-breaks for regular order volumes. We record the costs of all such programs as an adjustment to revenue at the time the related revenue is recognized. Our products are predominantly therapy-based equipment and require no installation. Therefore, we have no installation obligations. For multiple-element arrangements, we allocate arrangement consideration to the deliverables by use of the relative selling price method. The selling price used for each deliverable is based on vendor–specific objective evidence.  We also generate revenue from time-based licensing of our software and associated services. In most instances, revenue is generated under sales agreements with multiple elements comprising subscription fees and professional services, which typically have contract terms of one to three years. We evaluate each element in these multiple-element arrangements to determine whether they represent a separate unit of accounting and recognize each element as the services are performed.  (c) Cash and Cash Equivalents  Cash equivalents include certificates of deposit and other highly liquid investments and we state them at cost, which approximates market. We consider investments with original maturities of 90 days or less to be cash equivalents for purposes of the consolidated statements of cash flows.  Our cash and cash equivalents balance at June 30, 2018 , include $2.5 million in cash which is subject to notice periods of up to 90 days. These cash balances earn interest rates above normal term deposit rates otherwise available and are held at highly rated financial institutions.  (d) Inventories  We state inventories at the lower of cost (determined principally by the first-in, first-out method) or net realizable value. We include material, labor and manufacturing overhead costs in finished goods and work-in-process inventories. We review and provide for any product obsolescence in our manufacturing and distribution operations by assessing throughout the year individual products and components (based on estimated future usage and sales).  ( e) Property, Plant and Equipment  We record property, plant and equipment, including rental and demonstration equipment at cost. We compute depreciation expense using the straight-line method over the estimated useful lives of the assets. Useful lives are generally two to ten years except for buildings which are depreciated over an estimated useful life of 40 years and leasehold improvements, which we amortize over the lease term. We charge maintenance and repairs to expense as we incur them.  (f) Intangible Assets  We capitalize the registration costs for new patents and amortize the costs over the estimated useful life of the patent, which is generally five years. If a patent is superseded or a product is retired, any unamortized costs are written off immediately.  We amortize all of our other intangible assets on a straight-line basis over their estimated useful lives, which range from two to fifteen years. We evaluate the recoverability of intangible assets periodically and take into account events or circumstances that warrant revised estimates of useful lives or that indicate that impairment exists. We have no t identified any impairment of intangible assets during any of the periods presented.  (g) Goodwill  We conducted our annual review for goodwill impairment during the final quarter of 2018 . Our goodwill impairment tests are performed at our reporting unit level which is one level below our operating segment. Fair value is determined based on estimated discounted cash flows. Our goodwill impairment review involved the following steps:  Step 0 or Qualitative assessment – Evaluate qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. Factors considered included, but were not limited to, macroeconomic conditions, industry and market considerations, cost factors, overall financial performance or events-specific to that reporting unit. If or when we determine it is more likely than not that the fair value of a reporting unit is less than the carrying amount, including goodwill, we would move to Step 1 of the quantitative method.  Step 1 – Compare the fair value for each reporting unit to its carrying value, including goodwill. For each reporting unit where the carrying value, including goodwill, exceeds the reporting unit’s fair value, move on to Step 2. If a reporting unit’s fair value exceeds the carrying value, no further work is performed and no impairment charge is necessary.  Step 2 – Allocate the fair value of the reporting unit to its identifiable tangible and non-goodwill intangible assets and liabilities. This will derive an implied fair value for the goodwill. Then, compare the implied fair value of the reporting unit’s goodwill with the carrying amount of the reporting unit’s goodwill. If the carrying amount of the reporting unit’s goodwill is greater than the implied fair value of its goodwill, an impairment loss must be recognized for the excess.  The results of our review indicated that no impaired goodwill exists as the fair value for each reporting unit exceeded its carrying value.  (h) Foreign Currency  The consolidated financial statements of our non-U.S. subsidiaries, whose functional currencies are other than the U.S. dollar, are translated into U.S. dollars for financial reporting purposes. We translate assets and liabilities of non-U.S. subsidiaries whose functional currencies are other than the U.S. dollar at period end exchange rates, but translate revenue and expense transactions at average exchange rates for the period. We recognize cumulative translation adjustments as part of comprehensive income, as detailed in the consolidated statements of comprehensive income, and include those adjustments in accumulated other comprehensive income in the consolidated balance sheets until such time the relevant subsidiary is sold or substantially or completely liquidated. We reflect gains and losses on transactions denominated in other than the functional currency of an entity in our results of operations.  (i) Research and Development  We record all research and development expenses in the period we incur them.  (j) Financial Instruments  The carrying value of financial instruments, such as cash equivalents, accounts receivable and accounts payable, approximate their fair value because of their short-term nature. The carrying value of long-term debt approximates its fair value as the principal amounts outstanding are subject to variable interest rates that are based on market rates which are regularly reset. Foreign currency hedging instruments are marked to market and therefore reflect their fair value. We do not hold or issue financial instruments for trading purposes.  The fair value of financial instruments is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  (k) Foreign Exchange Risk Management  We enter into various types of foreign exchange contracts in managing our foreign exchange risk, including derivative financial instruments encompassing forward exchange contracts and foreign currency options.  The purpose of our foreign currency hedging activities is to protect us from adverse exchange rate fluctuations with respect to net cash movements resulting from the sales of products to foreign customers and Australian and Singapore manufacturing activities. We enter into foreign exchange contracts to hedge anticipated sales and manufacturing costs, principally denominated in Australian and Singapore dollars, and Euros. The terms of such foreign exchange contracts generally do not exceed three years.  We have determined our hedge program to be a non-effective hedge as defined. We record the foreign currency derivatives portfolio at fair value and include it in other assets and accrued expenses in our consolidated balance sheets. We do not offset the fair value amounts recognized for foreign currency derivatives. We classify purchases of foreign currency derivatives and proceeds received from the exercise of foreign currency derivatives as an investing activity within our consolidated statements of cash flows.  We record all movements in the fair value of the foreign currency derivatives within other income, net in our consolidated statements of income.  (l) Income Taxes  We account for income taxes under the asset and liability method. We recognize deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. We measure deferred tax assets and liabilities using the enacted tax rates we expect to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.  (m) Provision for Warranty  We provide for the estimated cost of product warranties at the time the related revenue is recognized. We determine the amount of this provision by using a financial model, which takes into consideration actual historical expenses and potential risks associated with our different products. We use this financial model to calculate the future probable expenses related to warranty and the required level of the warranty provision. Although we engage in product improvement programs and processes, our warranty obligation is affected by product failure rates and costs incurred to correct those product failures. Should actual product failure rates or estimated costs to repair those product failures differ from our estimates, we would be required to revise our estimated warranty provision.  (n) Allowance for Doubtful Accounts  We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments, which results in bad debt expense. We determine the adequacy of this allowance by periodically evaluating individual customer receivables, considering a customer’s financial condition, credit history and current economic conditions. We are also contingently liable, within certain limits, in the event of a customer default, to independent leasing companies in connection with customer leasing programs. We monitor the collection status of these installment receivables and provide for estimated losses separately under accrued expenses within our consolidated balance sheets based upon our historical collection experience with such receivables and a current assessment of our credit exposure.  (o) Impairment of Long-Lived Assets  We periodically evaluate the carrying value of long-lived assets to be held and used, including certain identifiable intangible assets, when events and circumstances indicate that the carrying amount of an asset may not be recovered. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If assets are considered to be impaired, we recognize as the impairment the amount by which the carrying amount of the assets exceeds the fair value of the assets. We report assets to be disposed of at the lower of the carrying amount or fair value less costs to sell.  We did not recognize impairment charges in relation to long-lived assets during the fiscal years ended June 30, 2018 and 2017, but during the fiscal year ended June 30, 2016 we recognized $2.8 million of impairment charges.  (p) Contingencies  We record a liability in the consolidated financial statements for loss contingencies when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss is reasonably possible but not known or probable, and can be reasonably estimated, the estimated loss or range of loss is disclosed. When determining the estimated loss or range of loss, significant judgment is required to estimate the amount and timing of a loss to be recorded. |
New Accounting Pronouncements
New Accounting Pronouncements | 12 Months Ended |
Jun. 30, 2018 | |
New Accounting Pronouncements [Abstract] | |
New Accounting Pronouncements | (3) New Accounting Pronouncements  (a) Recently issued accounting standards not yet adopted  ASU No. 2014-09, “Revenue from Contracts with Customers” In May, 2014, the FASB issued Accounting Standards Update (ASU), ASU No. 2014-09, “Revenue from Contracts with Customers” (Topic 606), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. Since its initial release, the FASB has issued several amendments to the standard, which include clarification of accounting guidance related to identification of performance obligations, intellectual property licenses, and principal vs. agent considerations. ASU 2014-09 and all subsequent amendments (collectively, the “ new revenue recognition standards ” ) will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The guidance also requires improved disclosures on the nature, amount, timing, and uncertainty of revenue that is recognized.  We formed an implementation team during the year ended June 30, 2017 to oversee adoption of the new revenue recognition standards. The implementation team completed its assessment of the new guidance during the fourth quarter of the year ending June 30, 2018 and has determined it will not have a material impact on how we account for our contracts with customers. As previously reported, we will be updating our accounting policies to align with terminology and concepts in the new revenue recognition standards as well as increased disclosures relating to our revenue streams, contract-related balances and contract details.  The new revenue recognition standard is effective for us beginning in the first quarter of the fiscal year ending June 30, 2019 and can be applied retrospectively to each prior reporting period presented, or retrospectively with the cumulative effect of the change recognized at the date of the initial application. We will be adopting the new revenue recognition standards using the modified retrospective method and have not identified an adjustment to beginning retained earnings for the cumulative effect of the change.  ASU No. 2016-01, "Financial Instruments - Overall" In January 2016, the FASB issued Accounting Standards Update ASU No. 2016-01, "Financial Instruments - Overall" (Topic 825-10). The amendments address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments, and require equity securities to be measured at fair value with changes in fair value recognized through net income. The amendments also simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment for impairment quarterly at each reporting period. The amendments in ASU 2016-01 will be effective for our first quarter of the fiscal year ending June 30, 2019. An entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption, with prospective adoption of the amendments related to equity securities without readily determinable fair values existing as of the date of adoption. We have completed our assess ment of this standard which is relevant for our Cost-Method Investments, and identified example transactions or events that we would regard as an orderly transaction and could be regarded as an observable price including capital-raising activities. If and when these transactions or events occur , and indicate a change in the fair value of our investment, this will be recognized through net income in the period when these transactions or events occur.  ASU No. 2016-02, “Leases” In February 2016, the FASB issued Accounting Standard Update ASU No. 2016-02, “Leases” (Topic 842). Under the new guidance, lessees are required to recognize a right-of-use asset and a lease liability on the balance sheet for all leases, other than those that meet the definition of a short -term lease. This update will establish a lease asset and lease liability by lessees for those leases classified as operating under current GAAP. Leases will be classified as either operating or finance under the new guidance. Operating leases will result in straight-line expense in the income statement, similar to current operating leases, and finance leases will result in more expense being recognized in the earlier years of the lease term, similar to current capital leases. For lessors, the update will more closely align lease accounting to comparable guidance in the new revenue standards described.  The new standard is effective for us beginning in the first quarter of the fiscal year ending June 30, 2020 and early application is not permitted. ASU 2016-02 will be adopted on a modified retrospective transition basis for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements.  We formed an implementation team during the fourth quarter of the year ended June 30, 2018 to oversee adoption of the new standard. The implementation team has established a project plan as well as initiated collecting global data on our lease agreements. There are a number of steps in the team’s project plan that remain to be completed including: executing global education program , designing the system solution for data collation and balance calculations, evaluating the impact, and working through required changes to systems, business processes and controls to support the adoption of the new leases standard. While the formal impact assessment is ongoing, we expect this amendment will affect the way we account for operating leases where we are the lessee (as described above), require reassessment of how we account for revenue where we are the lessor and will result in increased disclosures for all lease arrangements.  ASU No. 2016-16, “Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory” In October 2016, the FASB issued Accounting Standard Update ASU No. 2016-16, “Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory” (Topic 740). Under the new guidance, an entity is required to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs and eliminates the exception for an intra-entity transfer of an asset other than inventory. ASU 2016-16 will be effective for the first quarter of our fiscal year ending June 30, 2019 and is required to be adopted on a modified retrospective basis, with a cumulative-effect adjustment recorded directly to retained earnings for intra-entity transfers that occur before the adoption date. Based on this adoption method, we expect to record a cumulative-effect adjustment directly to retained earnings and a reduction in prepaid taxes of approximately $185.6 million on July 1, 2018.  (b) Recently adopted accounting pronouncements  We did not adopt any new accounting pronouncements during the year ended June 30, 2018 .  |
Inventories
Inventories | 12 Months Ended |
Jun. 30, 2018 | |
Inventories [Abstract] | |
Inventories | (4) Inventories  Inventories were comprised of the following as of June 30, 2018 and June 30, 2017 (in thousands):   June 30, 2018 June 30, 2017  Raw materials $ 75,415 $ 75,658  Work in progress 2,453 4,297  Finished goods 190,833 188,364  Total inventories $ 268,701 $ 268,319 |
Property, Plant And Equipment,
Property, Plant And Equipment, Net | 12 Months Ended |
Jun. 30, 2018 | |
Property, Plant And Equipment, Net [Abstract] | |
Property, Plant And Equipment, Net | (5) Property, Plant and Equipment, net  Property, plant and equipment, net is comprised of the following as of June 30, 2018 and June 30, 2017 (in thousands):    June 30, 2018 June 30, 2017  Machinery and equipment $ 239,671 $ 230,632  Computer equipment 155,069 154,032  Furniture and fixtures 51,045 47,074  Vehicles 7,399 7,667  Clinical, demonstration and rental equipment 92,229 86,024  Leasehold improvements 32,169 35,932  Land 54,089 55,311  Buildings 229,193 233,868  860,864 850,540  Accumulated depreciation and amortization (474,314) (456,299)  Property, plant and equipment, net $ 386,550 $ 394,241 |
Goodwill And Other Intangible A
Goodwill And Other Intangible Assets, Net | 12 Months Ended |
Jun. 30, 2018 | |
Goodwill And Other Intangible Assets, Net [Abstract] | |
Goodwill And Other Intangible Assets, Net | (6) Goodwill and Other Intangible Assets, net  Goodwill  Changes in the carrying amount of goodwill for the years ended June 30, 2018 and June 30, 2017 (in thousands):    Twelve Months Ended June 30,  2018 2017  Balance at the beginning of the period $ 1,064,874 $ 1,059,245  Business acquisition 247 (645)  Foreign currency translation adjustments 3,823 6,274  Balance at the end of the period $ 1,068,944 $ 1,064,874  For each of the years ended June 30, 2018 and June 30, 2017 , we have no t recorded any goodwill impairments.  Other Intangible Assets  Other intangibles, net are comprised of the following as of June 30, 2018 and June 30, 2017 (in thousands):   June 30, 2018 June 30, 2017  Developed/core product technology $ 205,149 $ 206,258  Accumulated amortization (115,237) (93,079)  Developed/core product technology, net 89,912 113,179  Trade names 48,832 48,768  Accumulated amortization (16,868) (10,894)  Trade names, net 31,964 37,874  Non-compete agreements 3,288 3,660  Accumulated amortization (2,283) (2,236)  Non-compete agreements, net 1,005 1,424  Customer relationships 118,084 122,458  Accumulated amortization (48,157) (40,050)  Customer relationships, net 69,927 82,408  In-process research and development - 4,100  In-process research and development, net - 4,100  Patents 91,708 85,780  Accumulated amortization (69,332) (62,965)  Patents, net 22,376 22,815  Total other intangibles, net $ 215,184 $ 261,800  Intangible assets consist of developed/core product technology, trade names, non-compete agreements, customer relationships, and patents, and we amortize them over the estimated useful life of the assets, generally between two and fifteen years. There are no expected residual values related to these intangible assets. In-process research and development is amortized over the estimated the useful life of the assets, once the research and development efforts are completed. At least on an annual basis, we evaluate the in-process research and development balances for impairment.  Refer to note 22 of the consolidated financial statements for details of acquisitions made in the prior year.  Amortization expense for the year ended June 30, 2018 was $46.4 million and $8.0 million for identifiable intangible assets and patents, respectively. Total e stimated annual amortization expense for the years ending June 30, 2019 through June 30, 2023 , is shown below (in thousands):    Fiscal Year Amortization expense  2019 $ 53,240  2020 48,201  2021 40,532  2022 30,921  2023 12,137 |
Cost-Method Investments
Cost-Method Investments | 12 Months Ended |
Jun. 30, 2018 | |
Cost-Method Investments [Abstract] | |
Cost-Method Investments | (7) Cost-Method Investments  The aggregate carrying amount of our cost-method investments at June 30, 2018 and June 30, 2017 , included within our other non-current assets on our consolidated balance sheets, was $41.2 million and $38.3 million, respectively.  We periodically evaluate the carrying value of our cost-method investments, when events and circumstances indicate that the carrying amount of an asset may not be recovered. We determine the fair value of our cost-method investments to evaluate whether impairment losses shall be recorded using Level 3 inputs. These investments include our holdings in privately held service and research companies that are not exchange traded and therefore not supported with observable market prices. However, these investments are valued by reference to their net asset values which can be market supported and unobservable inputs including future cash flows. We have determined that the fair value of our cost-method investments exceed their carrying values.  The following table shows a reconciliation of the changes in our cost-method investments during the years ended June 30, 2018 and June 30, 2017 (in thousands):    Twelve Months Ended June 30,  2018 2017  Balance at the beginning of the period $ 38,324 $ 33,815  Investments 14,495 6,464  Impairment of cost-method investments (11,593) (1,955)  Balance at the end of the period $ 41,226 $ 38,324 |
Accrued Expenses
Accrued Expenses | 12 Months Ended |
Jun. 30, 2018 | |
Accrued Expenses [Abstract] | |
Accrued Expenses | (8) Accrued Expenses  Accrued expenses at June 30, 2018 and June 30, 2017 consist of the following (in thousands):    June 30, 2018 June 30, 2017  Product warranties $ 19,227 $ 19,558  Consulting and professional fees 10,341 10,506  Value added taxes and other taxes due 20,130 18,228  Employee related costs 109,280 100,410  Marketing and promotional programs 3,466 2,661  Business acquisition contingent consideration 1,505 651  Hedging instruments 2,373 460  Liability on receivables sold with recourse (note 19) 2,277 18,068  Accrued interest 120 1,050  Logistics and occupancy expenses 6,356 3,815  Other 10,730 10,888  $ 185,805 $ 186,295 Refer to note 19 of the consolidated financial statements for details of accounting treatment liability on receivables sold with recourse. |
Product Warranties
Product Warranties | 12 Months Ended |
Jun. 30, 2018 | |
Product Warranties [Abstract] | |
Product Warranties | (9) Product Warranties We include the liability for warranty costs in accrued expenses in our consolidated balance sheets. Changes in the liability for product warranty for the years ended June 30, 2018 and June 30, 2017 are as follows (in thousands):    2018 2017  Balance at the beginning of the period $ 19,558 $ 15,043  Warranty accruals for the period 17,339 19,805  Warranty costs incurred for the period (17,406) (15,489)  Foreign currency translation adjustments (264) 199  Balance at the end of the period $ 19,227 $ 19,558 |
Debt
Debt | 12 Months Ended |
Jun. 30, 2018 | |
Debt [Abstract] | |
Debt | (10) Debt  Debt at June 30, 2018 and June 30, 2017 consists of the following (in thousands):     June 30, 2018 June 30, 2017  Short-term debt $ 12,000 $ -  Deferred borrowing costs (534) -  Short-term debt, net 11,466 -  -  Long-term debt $ 272,000 $ 1,080,000  Deferred borrowing costs (2,012) (1,389)  Long-term debt, net $ 269,988 $ 1,078,611  Total debt $ 281,454 $ 1,078,611  Credit Facility  On October 31, 2013, we entered into a revolving credit agreement, as borrower, with lenders, including Union Bank, N.A., as administrative agent, joint lead arranger, swing line lender and letters of credit issuer, and HSBC Bank USA, National Association, as syndication agent and joint lead arranger, providing for a revolving credit facility of $700.0 million, with an uncommitted option to increase the revolving credit facility by an additional $300.0 million. On April 4, 2016, in connection wit h our acquisition of Brightree , we entered into a first amendment to the revolving credit agreement to increase the size of the revolving credit facility from $700.0 million to $1.0 billion, with an uncommitted option to increase the revolving credit facility by an additional $300.0 million, and to make other modifications to provide for the acquisition of Brightree. On January 9, 2017, we entered into a second amendment to our agreement with our existing lenders, including MUFG Union Bank, N.A. as successor in interest to Union Bank, N.A., as Administrative Agent, Joint Lead Arranger, Swing Line Lender and L/C Issuer; and HSBC Bank USA, National Association, as Syndication Agent and Joint Lead Arranger. The second amendment, among other things, increase d the size of our senior unsecured revolving credit facility from $1.0 billion to $1.3 billion, with an uncommitted option to increase the revolving credit facility by an additional $300.0 million.  On April 17, 2018, we entered into an Amended and Restated Credit Agreement, or the Revolving Credit Agreement, as borrower, with lenders MUFG Union Bank, N.A., as administrative agent, joint lead arranger, joint book runner, swing line lender and letter of credit issuer, and Westpac Banking Corporation, as syndication agent, joint lead arranger and joint book runner. The Revolving Credit Agreement, among other things, provides a senior unsecured revolving credit facility of $800.0 million, with an uncommitted option to increase the revolving credit facility by an additional $300.0 million.  Additionally, on April 17, 2018, ResMed Limited entered into a Syndicated Facility Agreement, or the Term Credit Agreement, as borrower, with lenders MUFG Union Bank, N.A., as administrative agent, joint lead arranger and joint book runner, and Westpac Banking Corporation, as syndication agent, joint lead arranger and joint book runner. The Term Credit Agreement, among other things, provides ResMed Limited a senior unsecured term credit facility of $200.0 million.  The Revolving Credit Agreement and Term Credit Agreement each terminate on April 17, 2023 , when all unpaid principal and interest under the loans must be repaid. The term credit facility will also amortize on a semi-annual basis, with a $6.0 million principal payment required on each such semi-annual amortization date. The outstanding principal amounts will bear interest at a rate equal to LIBOR plus 0.75% to 1.50% (depending on the then-applicable leverage ratio) or the Base Rate (as defined in the Revolving Credit Agreement and the Term Credit Agreement, as applicable) plus 0.0% to 0.50% (depending on the then-applicable leverage ratio).  Our obligations under the Revolving Credit Agreement and Term Credit Agreement are guaranteed by us and certain of our direct and indirect U.S. subsidiaries, including, in each case, ResMed Corp., ResMed Motor Technologies Inc., Birdie Inc., Inova Labs, Inc., Brightree LLC, Brightree Services LLC, Brightree Home Health & Hospice LLC, and Brightree Patient Collections LLC. The Revolving Credit Agreement and Term Credit Agreement contain customary covenants, including, in each case, a financial covenant that requires that we maintain a maximum leverage ratio of funded debt to EBITDA (as defined in the Revolving Credit Agreement and Term Credit Agreement, as applicable). The entire principal amounts of the revolving credit facility and term credit facility, and, in each case, any accrued but unpaid interest may be declared immediately due and payable if an event of default occurs, as defined in the Revolving Credit Agreement and the Term Credit Agreement, as applicable. Events of default under the Revolving Credit Agreement and the Term Credit Agreement include, in each case, failure to make payments when due, the occurrence of a default in the performance of any covenants in the respective agreements or related documents, or certain changes of control of ResMed, the respective guarantors of the revolving credit facility and the term credit facility, ResMed Holdings Ltd and/or ResMed EAP Holdings LLC.  At June 30, 2018 , the interest that was being charged on the outstanding principal amounts was 3.0% . An applicable commitment fee of 0.100% to 0.175% (depending on the then-applicable leverage ratio) applies on the unused portion of the revolving credit facility. At June 30, 2018, we were in compliance with our debt covenants and there was $281.5 million outstanding under the revolving credit facility and term credit facility . |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Jun. 30, 2018 | |
Stockholders' Equity [Abstract] | |
Stockholders' Equity | (11) Stockholders’ Equity  Common Stock. On February 21, 2014, our board of directors approved a new share repurchase program, authorizing us to acquire up to an aggregate of 20.0 million shares of our common stock. The program allows us to repurchase shares of our common stock from time to time for cash in the open market, or in negotiated or block transactions, as market and business conditions warrant and subject to applicable legal requirements. The 20.0 million shares the new program authorizes us to purchase are in addition to the shares we repurchased on or before February 21, 2014 under our previous programs. There is no expiration date for this program, and the program may be accelerated, suspended, delayed or discontinued at any time at the discretion of our board of directors. All share repurchases since February 21, 2014 have been executed in accordance with this program.  During fiscal year 2018 , we repurchased 550,000 shares at a cost of $53.8 million and d uring fiscal year 2017, we did not purchase any shares under our share repurchase program. As of June 30, 2018 , we have repurchased a total of 41.6 million shares at a cost of $1.6 billion . Shares that are repurchased are classified as “treasury stock pending future use” and reduce the number of shares outstanding used in calculating earnings per share. At June 30, 2018 , 13.1 million additional shares can be repurchased under the approved share repurchase program.  Preferred Stock. In April 1997, our board of directors authorized 2,000,000 shares of $ 0.01 par value preferred stock. No such shares were issued or outstanding at June 30, 2018 . Stock Options and Restricted Stock Units. We have granted stock options and restricted stock units to personnel, including officers and directors, in accordance with the ResMed Inc. 2009 Incentive Award Plan (the “2009 Plan”). These options and restricted stock units vest over one to four years and the options have expiration dates of seven years from the date of grant. We have granted the options with an exercise price equal to the market value as determined at the date of grant.  At the annual meeting of our stockholders in November 2017, our stockholders approved an amendment and restatement to the 2009 Plan to increase the number of shares of common stock that may be issued or transferred pursuant to awards under the 2009 Plan by 7.4 million. The amendment and restatement imposes a maximum award amount which may be granted under the 2009 Plan to non-employee director in a calendar year, which when taken together with any other cash fees earned for services as a non-employee director during the calendar year, has a total value of $0.7 million, or $1.2 million in the case of a non-employee director who is also serving as chairman of our board of directors. The amendment and restatement also increased the maximum amount payable pursuant to cash-denominated performance awards granted in any calendar year from $3.0 million to $5.0 million. In addition, the amendment and restatement extended the existing prohibition on the payment of dividends or dividend equivalents on unvested awards to apply to all awards, including time-based restricted stock, deferred stock and stock payment. The term of the 2009 Plan was extended by four years so that the plan expires on September 11, 2027 .  The maximum number of shares of our common stock authorized for issuance under the 2009 Plan is 51.1 million. The number of securities remaining available for future issuance under the 2009 Plan at June 30, 2018 is 17.8 million. The number of shares of our common stock available for issuance under the 2009 Plan will be reduced by (i) 2.8 shares for each one share of common stock delivered in settlement of any “full-value award,” which is any award other than a stock option, stock appreciation right or other award for which the holder pays the intrinsic value and (ii) one share for each share of common stock delivered in settlement of all other awards. The maximum number of shares, which may be subject to awards granted under the 2009 Plan to any individual during any calendar year, may not exceed 3 million shares of our common stock (except in a participant’s initial year of hiring up to 4.5 million shares of our common stock may be granted).  At June 30, 2018 , there was $75.3 million in unrecognized compensation costs related to unvested stock-based compensation arrangements. This is expected to be recognized over a weighted average period of 2.2 years. The aggregate intrinsic value of the stock-based compensation arrangements outstanding and exercisable at June 30, 2018 and June 30, 2017 was $222.3 million and $194.5 million, respectively. The aggregate intrinsic value of the options exercised during the fiscal years 2018, 2017 and 2016 , was $27.5 million, $28.1 million and $40.4 million, respectively.  The following table summarizes option activity during the year ended June 30, 2018 :    Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term in Years  Outstanding at beginning of period 1,495,573 $ 47.09 3.9  Granted 248,821 85.42  Exercised (538,568) 34.83  Forfeited - -  Outstanding at end of period 1,205,826 $ 60.48 4.4  Exercise price of granted options $ 85.42  Options exercisable at end of period 683,620 $ 52.26 * Includes NIL shares netted for tax.  The following table summarizes the activity of restricted stock units, including performance restricted stock units, during year ended June 30, 2018 :   Restricted Stock Units Weighted Average Grant-Date Fair Value Weighted Average Remaining Contractual Term in Years  Outstanding at beginning of period 1,906,394 $ 53.26 1.6  Granted 570,332 80.24  Vested (393,617) 52.35  Expired / cancelled (366,445) -  Forfeited (71,910) 58.17  Outstanding at end of period 1,644,754 $ 62.89 1.6 * Includes 179,847 shares netted for tax.  Employee Stock Purchase Plan (the “ESPP”). Under the ESPP, we offer participants the right to purchase shares of our common stock at a discount during successive offering periods. Each offering period under the ESPP will be for a period of time determined by the board of directors’ compensation committee of no less than 3 months and no more than 27 months. The purchase price for our common stock under the ESPP will be the lower of 85 % of the fair market value of our common stock on the date of grant or 85 % of the fair market value of our common stock on the date of purchase. An individual participant cannot subscribe for more than $ 25,000 in common stock during any calendar year. At June 30, 2018 , the number of shares remaining available for future issuance under the ESPP is 0.5 million shares.  During years ended June 30, 2018 and June 30, 2017 , we issued 302,000 and 327,000 shares to our employees in two offerings and we recognized $5.2 million and $4.2 million, respectively, of stock compensation expense associated with the ESPP. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | (12) Earnings Per Share  We compute basic earnings per share by dividing the net income available to common stockholders by the weighted average number of shares of common stock outstanding. For purposes of calculating diluted earnings per share, the denominator includes both the weighted average number of shares of common stock outstanding and the number of dilutive common stock equivalents such as stock options and restricted stock units.  The weighted average number of outstanding stock options and restricted stock units not included in the computation of diluted earnings per share were 153,000 , 173,000 and 297,000 for the years ended June 30, 2018, 2017 and 2016 , respectively, as the effect would have been anti-dilutive. Basic and diluted earnings per share for the years ended June 30, 2018, 2017 and 2016 are calculated as follows (in thousands except per share data):    2018 2017 2016  Numerator:  Net income $ 315,588 $ 342,284 $ 352,409  Denominator:  Basic weighted-average common shares outstanding 142,764 141,360 140,242  Effect of dilutive securities:  Stock options and restricted stock units 1,223 1,093 1,427  Diluted weighted average shares 143,987 142,453 141,669  Basic earnings per share $ 2.21 $ 2.42 $ 2.51  Diluted earnings per share $ 2.19 $ 2.40 $ 2.49 |
Other, Net
Other, Net | 12 Months Ended |
Jun. 30, 2018 | |
Other, Net [Abstract] | |
Other, Net | (13) Other, net  Other, net, in the consolidated statements of income is comprised of the following for the years ended June 30, 2018, 2017 and 2016 (in thousands):    2018 2017 2016  Gain (loss) on foreign currency transactions and hedging, net $ (1,546) $ 5,434 $ 4,169  Impairment of cost method investments (11,593) (1,955) (750)  Other 4,597 617 1,541  $ (8,542) $ 4,096 $ 4,960 |
Income Taxes
Income Taxes | 12 Months Ended |
Jun. 30, 2018 | |
Income Taxes [Abstract] | |
Income Taxes | (14) Income Taxes  Income before income taxes for the years ended June 30, 2018, 2017 and 2016 , was taxed under the following jurisdictions (in thousands):    2018 2017 2016  U.S. $ 42,627 $ (4,985) $ 1,785  Non-U.S. 478,685 423,728 437,781  $ 521,312 $ 418,743 $ 439,566  The provision for income taxes is presented below (in thousands):   2018 2017 2016  Current: Federal $ 128,971 $ 16,468 $ 24,325  State 948 (1,159) 5,805  Non-U.S. 68,858 65,612 58,023  198,777 80,921 88,153  Deferred: Federal 9,488 11,385 5,640  State (350) 2,706 (1,644)  Non-U.S. (2,191) (18,553) (4,992)  6,947 (4,462) (996)  Provision for income taxes $ 205,724 $ 76,459 $ 87,157  The provision for income taxes differs from the amount of income tax determined by applying the applicable U.S. federal income tax rate of 28% for the year ended June 30, 2018 and 35% for the years ended June 30, 2017 and 2016, to pretax income as a result of the following (in thousands):    2018 2017 2016  Taxes computed at statutory U.S. rate (1) $ 146,280 $ 146,560 $ 153,848  Increase (decrease) in income taxes resulting from:  Transition tax 126,753 - -  State income taxes, net of U.S. tax benefit 2,427 (1,294) 2,573  Research and development credit (4,089) (2,804) (5,138)  Change in statutory tax rates 16,685 - -  Tax effect of dividends - 97,662 80,754  Change in valuation allowance (2,962) 4,021 (5,882)  Effect of non-U.S. tax rates (70,250) (97,141) (91,124)  Foreign tax credits (2) (6,473) (67,689) (44,835)  Stock-based compensation expense (7,045) (3,107) (8,170)  Other 4,398 251 5,131  $ 205,724 $ 76,459 $ 87,157  (1) In fiscal year 2018, as a result of U.S. tax legislation, the statutory U.S. tax rate was 28%. (2) In fiscal year 2018, $75.5 million of the foreign tax credit is included as a reduction in the transition tax.  The components of our deferred tax assets and liabilities at June 30, 2018 and June 30, 2017 , are as follows (in thousands):     2018 2017  Deferred tax assets:  Employee liabilities $ 16,184 $ 19,275  Tax credit carry overs 9,031 501  Inventories 5,840 10,126  Provision for warranties 3,904 4,766  Provision for doubtful debts 3,817 2,967  Net operating loss carryforwards 26,355 36,117  Capital loss carryover 3,932 2,625  Property, plant and equipment 6,121 3,850  Stock-based compensation expense 9,322 15,143  Other 4,515 4,569  89,021 99,939  Less valuation allowance (12,297) (15,259)  Deferred tax assets 76,724 84,680  Deferred tax liabilities:  Goodwill and other intangibles (35,990) (36,999)  Deferred tax liabilities (35,990) (36,999)  Net deferred tax asset $ 40,734 $ 47,681  We reported the net deferred tax assets and liabilities in our consolidated balance sheets at June 30, 2018 and June 30, 2017 , as follows (in thousands):    2018 2017  Non-current deferred tax asset $ 53,818 $ 61,503  Non-current deferred tax liability (13,084) (13,822)  Net deferred tax asset $ 40,734 $ 47,681  As of June 30, 2018 , we had $61.0 million of U.S. federal and state net operating loss carryforwards and $93.7 million of non-U.S. net operating loss carryforwards, which expire in various years beginning in 2018 or carry forward indefinitely.  The valuation allowance at June 30, 2018 relates to a provision for uncertainty of the utilization of net operating loss carryforwards of $9.2 million and capital loss and other items of $3.0 million. We believe that it is more likely than not that the benefits of deferred tax assets, net of any valuation allowance, will be realized.  A substantial portion of our manufacturing operations and administrative functions in Malaysia and Singapore operate under various tax holidays and tax incentive programs that will expire in whole or in part at va rious dates through June 30, 203 0. The end of certain tax holidays may be extended if specific conditions are met. The net impact of these tax holidays and tax incentive programs increased our net earnings by $33.5 million ( $0.23 per diluted share) for the year ended June 30, 2018 and $19.5 million ( $0.14 per diluted share) for the year ended June 30, 2017 .   During the year ended June 30, 2018 , as a result of the U.S. Tax Act , we have treated all non-U.S. historical earnings as taxable, which resulted in additional tax expense of $126.9 million which is payable over the next eight years. Therefore, future repatriation of cash held by our non-U.S. subsidiaries will generally not be subject to U.S. federal tax if repatriated. The total amount of these undistributed earnings at June 30, 2018 amounted to approximately $2.6 billion. If these earnings had not been permanently reinvested, deferred taxes of approximately $4.0 million would have been recognized in the consolidated financial statements.  In accounting for uncertainty in income taxes, we recognize a tax benefit in the financial statements for an uncertain tax position only if management’s assessment is that the position is “more likely than not” (that is, a likelihood greater than 50 percent) to be allowed by the tax jurisdiction based solely on the technical merits of the position. The term “tax position” refers to a position in a previously filed tax return or a position expected to be taken in a future tax return that is reflected in measuring current or deferred income tax assets and liabilities for annual periods. The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying consolidated statements of income. Accrued interest and penalties are included within the related tax liability line in the consolidated balance sheets. Based on all known facts and circumstances and current tax law, we believe the total amount of unrecognized tax benefits on June 30, 2018 , is not material to our results of operations, financial condition or cash flows, and if recognized, would not have a material impact on our effective tax rate.  Our income tax returns are based on calculations and assumptions subject to audit by various tax authorities. In addition, the calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax laws. We regularly assess the potential outcomes of examinations by tax authorities in determining the adequacy of our provision for income taxes.  In connection with the audit by the Australian Taxation Office (“ATO”) for the tax years 2009 to 2013 , we received Notices of Amended Assessments in March 2018. Based o n these assessments, the ATO assert ed that we owe $151.7 million in additional income tax and $38.4 million in accrued interest , of which $75.9 million was paid i n April 2018 under a payment arrangement with the ATO . At June 30, 2018, we have recorded a receivable in prepaid taxes and other non-current assets for the amount paid as we ultimately expect this will be refunded by the ATO. In June 2018 , we received a notice from the ATO claiming penalties of 50% of the additional income tax that was assessed or $75.9 million. We do not agree with the ATO’s assessments and continue to believe we are more likely than not to be successful in defending our position. We have also been notified by the ATO that they intend to audit tax years 2014 to 2017.  Our income tax expense, short-term income taxes payable and long-term income taxes payable were impacted by charges associated with the U.S. Tax Act enacted on December 22, 2017, which resulted in additional income tax expense of $138.0 million during the year ended June 30, 2018 . Specifically, the income tax expense includes the transition tax imposed on our accumulated foreign earnings, which resulted in additional income tax expense of $12 6 . 9 million for the year ended June 30, 2018. Additionally, it resulted in t he write down in the carrying value of our net deferred tax assets due to the lower corporate tax rate and the reduction in the future value of deferred tax assets, which resulted in additional income tax expense of $11.1 million recorded in the year ended June 30, 2018 .  On December 22, 2017, the SEC issued guidance under Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (“SAB 118”) directing taxpayers to consider the impact of the U.S. Tax Act as “provisional” when it does not have the necessary information available, prepared or analyzed (including computations) in reasonable detail to complete its accounting for the change in tax law. In accordance with SAB 118, the additio nal estimated income tax of $138.0 million represents our best estimate based on current interpretation of the U.S. Tax Act as we are still accumulating data to finaliz e the underlying calculations, or in certain cases, the U.S. Treasury is expected to issue further guidance on the application of certain provisions of the U.S. Tax Act . In accordance with SAB 118, the additional estimated income tax of $13 8 . 0 million recorded for the year ended June 30, 2018 is considered provisional and will be finalized before December 22, 2018. |
Segment Information
Segment Information | 12 Months Ended |
Jun. 30, 2018 | |
Segment Information [Abstract] | |
Segment Information | (15) Segment Information  We predominantly operate in a single operating segment, which is the sleep and respiratory disorders sector of the medical device industry. Due to the acquisition of Brightree LLC in April 2016, our operations now include the supply of business management software and services to medical equipment and home health providers. However, these operations, both in terms of revenue and profit, are not material to our global operations and therefore have not been separately reported as a segment.  Sales of devices for each of the years ended June 30, 2018, 2017 and 2016 , were $1,303.6 million, $ 1,161.0 million and $ 1,064.2 million, respectively. Sales of masks and other accessories for each of the years ended June 30, 2018, 2017 and 2016 , were $879.6 million, $767.7 million and $745.6 million, respectively. We allocate revenue to a geographic area based on where the products are shipped to or where the services are performed. Revenue information by geographic area for the years ended June 30, 2018, 2017 and 2016 , is summarized below (in thousands):    Revenue from external sources for the years ended June 30,  2018 2017 2016  United States $ 1,345,212 $ 1,229,196 $ 1,056,453  Rest of the World 994,984 837,541 782,260  Total $ 2,340,196 $ 2,066,737 $ 1,838,713  Long-lived assets of geographic areas are those assets used in our operations in each geographical area, and excludes goodwill, other intangible assets, and deferred tax assets. Long-lived assets by geographic area as of June 30, 2018, 2017 and 2016 , is summarized below (in thousands):    Long lived assets at June 30,  2018 2017 2016  United States $ 142,337 $ 150,677 $ 148,789  Australia 173,394 183,159 185,978  Rest of the World 70,819 60,405 49,509  Total $ 386,550 $ 394,241 $ 384,276 |
Stock-Based Employee Compensati
Stock-Based Employee Compensation | 12 Months Ended |
Jun. 30, 2018 | |
Stock-Based Employee Compensation [Abstract] | |
Stock-Based Employee Compensation | (16) Stock-based Employee Compensation  We measure the compensation expense of all stock-based awards at fair value on the grant date. We estimate the fair value of stock options and purchase rights granted under the ESPP using the Black-Scholes valuation model. The fair value of restricted stock units is equal to the market value of the underlying shares as determined at the grant date less the fair value of dividends that holders are not entitled to, during the vesting period. We recognize the fair value as compensation expense using the straight-line method over the service period for awards expected to vest.  We estimate the fair value of stock options granted under our stock option plans and purchase rights granted under the ESPP using the following assumptions:   Fiscal Year Ended June 30,  2018 2017 2016  Stock options:  Weighted average grant date fair value $ 16.68 $ 10.89 $ 12.18  Weighted average risk-free interest rate 2.08% 1.61% 1.66%  Expected life in years 4.9 4.9 4.9  Dividend yield 1.46% - 1.65% 2.02% - 2.29% 2.06% - 2.09%  Expected volatility 23% 25% 27%  ESPP purchase rights:  Weighted average grant date fair value $ 17.44 $ 12.50 $ 13.61  Weighted average risk-free interest rate 0.8% 0.5% 0.2%  Expected life in years 6 months 6 months 6 months  Dividend yield 1.47% - 1.92% 1.92% - 2.27% 1.96% - 2.14%  Expected volatility 23% 23% 23% - 32%  During the fiscal years ended June 30, 2018 and June 30, 2017 , we granted 167,000 and 243,000, performance restricted stock units (“PRSUs”), which contain a market condition, with the ultimate realizable number of PRSUs dependent on relative total stockholder return over a three -year period, up to a maximum amount to be issued under the award of 200 % of the original grant. The weighted average grant date fair value of PRSUs granted during the fiscal years 2018 and 2017 was estimated at $76.20 and $51. 60 per PRSU, respectively, using a Monte-Carlo simulation valuation model.  The following table summarizes the total stock-based compensation costs incurred and the associated tax benefit recognized during the years ended June 30, 2018, 2017 and 2016 (in thousands):     2018 2017 2016  Cost of sales - capitalized as part of inventory $ 2,990 $ 2,877 $ 2,731  Selling, general and administrative expenses 39,754 37,096 36,994  Research and development expenses 5,668 5,952 6,683  Stock-based compensation costs 48,412 45,925 46,408  Tax benefit (17,078) (20,100) (25,020)  Stock-based compensation costs, net of tax benefit $ 31,334 $ 25,825 $ 21,388 |
Employee Retirement Plans
Employee Retirement Plans | 12 Months Ended |
Jun. 30, 2018 | |
Employee Retirement Plans [Abstract] | |
Employee Retirement Plans | (17) Employee Retirement Plans  We contribute to a number of employee retirement plans for the benefit of our employees. Details of the main plans are as follows:  (1) Australia - We contribute to defined contribution plans for each employee resident in Australia. All Australian employees, after serving a qualifying period, are entitled to benefits on retirement, disability or death. Employees may contribute additional funds to the plans. We contribute to the plans at the rate of approximately 9.5 % of the salaries of all Australian employees. Our total contributions to the plans for the years ended June 30, 2018, 2017 and 2016 , were $ 10.5 million, $ 9.9 million and $ 9.1 million, respectively. (2) United States - We sponsor a defined contribution plan available to substantially all domestic employees. Company contributions to this plan are based on a percentage of employee contributions to a maximum of 4.0 % of the employee’s salary. Our total contributions to the plan were $ 5.0 million, $ 4.3 million and $ 3.3 million in fiscal 2018, 2017 and 2016 , respectively. (3) Singapore - We sponsor a defined contribution plan available to substantially all domestic employees. Company contributions to this plan are based on a percentage of employee contributions to a maximum of 17.0% of the employee’s salary. Our total contributions to the plan were $2.2 million, $ 1.7 million and $1.4 million in fiscal 2018 , 2017 and 2016 , respectively. |
Commitments
Commitments | 12 Months Ended |
Jun. 30, 2018 | |
Legal Actions And Contingencies [Abstract] | |
Commitments | (18) Commitments  We lease buildings, motor vehicles and office equipment under operating leases. We expense rental charges for operating leases on a straight-line basis over the lease term taking into account rent concessions or holidays. Rent expenses under operating leases for the years ended June 30, 2018, 2017 and 2016 , were approximately $ 21.1 million, $ 20.1 million and $ 17.4 million, respectively. At June 30, 2018 we had the following future minimum lease payments under non-cancelable operating leases (in thousands):    Fiscal Years Operating Leases  2019 $ 18,343  2020 12,585  2021 8,382  2022 5,929  2023 4,686  Thereafter 7,539  Total minimum lease payments $ 57,464  |
Legal Actions And Contingencies
Legal Actions And Contingencies | 12 Months Ended |
Jun. 30, 2018 | |
Legal Actions And Contingencies [Abstract] | |
Legal Actions And Contingencies | (19) Legal Actions and Contingencies  Litigation  In the normal course of business, we are subject to routine litigation incidental to our business. While the results of this litigation cannot be predicted with certainty, we believe that their final outcome will not, individually or in aggregate, have a material adverse effect on our consolidated financial statements taken as a whole.  Taxation Matters  As described in note 14 – Income Taxes, we received Notices of Amended Assessments from the ATO for the tax years 2009 to 2013. Based on these assessments, the ATO is asserting that we owe $151.7 million in additional income tax and $38.4 million in accrued interest, of which $75.9 million was paid in April 2018 under a payment arrangement with the ATO. In June 2018, we received a notice from the ATO claiming penalties of 50% of the additional income tax that was assessed or $75.9 million . We do not agree with the ATO’s assessments and we continue to believe we are more likely than not to be successful in defending our position. However, if we are not successful, we will not receive a refund of the $75.9 million paid in April 2018 and we would be required to pay the remaining $75.9 m illion in additional income tax, $38.4 million in accrued interest and $75.9 million in penalties , which would be recorded as income tax expense . We have also been notified by the ATO that they intend to audit tax years 2014 to 2017.  In connection with the recent U.S. Tax Act and the analysis of historical tax filings, we identified an administrative oversight in our prior year tax filing relating to a gain on an internal legal entity reorg anization. We have applied for relief by the U.S. Internal Revenue Service to amend the related tax returns required to correct the administrative oversight, which would indefinitely defer the recognition of this gain. W e believe it is more likely t han not that we will be granted this relief and therefore, have not recorded a reserve in relation to this matter during the year ended June 30, 2018.  Contingent Obligations Under Recourse Provisions  We use independent financing institutions to offer some of our customers financing for the purchase of some of our products. Under these arrangements, if the customer qualifies under the financing institutions ’ credit criteria and finances the transaction, the customers repay the financing institution on a fixed payment plan. For some of these arrangements, the customer’s receivable balance is with recourse, either limited or full, whereby we are responsible for repaying the financing company should the customer default. We record a contingent provision , which is estimated based on historical default rates. This is applied to receivables sold with recourse and is recorded in accrued expenses.  The following table summarizes the amount of receivables sold with recourse during the years ended June 30, 2018 and June 30, 2017 (in thousands):    Twelve Months Ended June 30,  2018 2017  Total receivables sold:  Full recourse $ 25,829 $ 24,592  Limited recourse 79,397 74,735  Total $ 105,226 $ 99,327  The following table summarizes the maximum exposure on outstanding receivables sold with recourse and provision for doubtful accounts at June 30, 2018 and June 30, 2017 (in thousands):    June 30, 2018 June 30, 2017  Maximum exposure on outstanding receivables:  Full recourse $ 20,139 $ 18,068  Limited recourse 9,239 9,432  Total $ 29,378 $ 27,500   Contingent provision for receivables with recourse $ (2,277) $ (1,437)  |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Jun. 30, 2018 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | (20) Fair Value Measurements  In determining the fair value measurements of our financial assets and liabilities, we consider the principal and most advantageous market in which we transact and consider assumptions that market participants would use when pricing the financial asset or liability. We maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.  The hierarchies of inputs are as follows: · Level 1: Input prices quoted in an active market for identical financial assets or liabilities; · Level 2: Inputs other than prices quoted in Level 1, such as prices quoted for similar financial assets and liabilities in active markets, prices for identical assets and liabilities in markets that are not active or other inputs that are observable or can be corroborated by observable market data; and · Level 3: Input prices quoted that are significant to the fair value of the financial assets or liabilities which are not observable nor supported by an active market.  The following table summarizes our financial assets and liabilities, as at June 30, 2018 and June 30, 2017 using the valuation input hierarchy (in thousands):     Level 1 Level 2 Level 3 Total  Balances at June 30, 2018  Foreign currency hedging instruments, net $ - $ (2,699) $ - $ (2,699)  Business acquisition contingent consideration $ - $ - $ (1,505) $ (1,505)  Balances at June 30, 2017  Foreign currency hedging instruments, net $ - $ 2,760 $ - $ 2,760  Business acquisition contingent consideration $ - $ - $ (1,580) $ (1,580)  We determine the fair value of our financial assets and liabilities as follows:  Foreign currency hedging instruments – These financial instruments are valued using third-party valuation models based on market observable inputs, including interest rate curves, on-market spot currency prices, volatilities and credit risk.  Contingent consideration – These liabilities include the fair value estimates of additional future payments that may be required for some of our previous business acquisitions based on the achievement of certain performance milestones. Each potential future payment is valued using the estimated probability of achieving each milestone, which is then discounted to present value.  The following is a reconciliation of changes in the fair value of contingent consideration during fiscal years ended June 30, 2018 and June 30, 2017 (in thousands):   2018 2017  Balance at the beginning of the period $ (1,580) $ (10,450)  Acquisition date fair value of contingent consideration - (1,580)  Changes in fair value included in operating income (1) (411) (10,076)  Payments 486 20,142  Foreign currency translation adjustments - 384  Balance at the end of the period $ (1,505) $ (1,580)  (1) During the year ended June 30, 2017 we recognized a charge of $10.1 million representing additional contingent consideration associated with the acquisition of Curative Medical Technology Inc., following the achievement of performance milestones under the purchase agreement which exceeded our earlier expectations.  We did not have any significant non-financial assets or liabilities measured at fair value on June 30, 2018 or June 30, 2017 . |
Derivative Instruments And Hedg
Derivative Instruments And Hedging Activities | 12 Months Ended |
Jun. 30, 2018 | |
Derivative Instruments And Hedging Activities [Abstract] | |
Derivative Instruments And Hedging Activities | (21) Derivative Instruments and Hedging Activities  We transact business in various foreign currencies, including a number of major European currencies as well as the Australian and Singapore dollars. We have significant foreign currency exposure through both our Australian and Singaporean manufacturing activities, and international sales operations. We have established a foreign currency hedging program using purchased currency options and forward contracts to hedge foreign-currency-denominated financial assets, liabilities and manufacturing cash flows. The terms of such foreign currency hedging contracts generally do not exceed three years. The goal of this hedging program is to economically manage the financial impact of foreign currency exposures denominated mainly in Euros, Australian and Singapore dollars. Under this program, increases or decreases in our foreign currency denominated financial assets, liabilities, and firm commitments are partially offset by gains and losses on the hedging instruments. We do not designate these foreign currency contracts as hedges. We have determined our hedge program to be a non-effective hedge as defined under the FASB issued authoritative guidance. All movements in the fair value of the foreign currency instruments are recorded within other income, net in our consolidated statements of income and through changes in our operating assets and liabilities within our consolidated statements of cash flows. We do not enter into financial instruments for trading or speculative purposes.  We held foreign currency instruments with notional amounts totaling $462.1 million and $568.2 million at June 30, 2018 and June 30, 2017 , respectively, to hedge foreign currency fluctuations. These contracts m ature at various dates prior to June, 2021.  The following table summarizes the amount and location of our derivative financial instruments as of June 30, 2018 and June 30, 2017 (in thousands):    June 30, 2018 June 30, 2017 Balance Sheet Caption  Foreign currency hedging instruments $ 281 $ 2,614 Other assets - current  Foreign currency hedging instruments - 1,273 Other assets - non current  Foreign currency hedging instruments (2,373) (1,127) Accrued expenses  Foreign currency hedging instruments (607) - Other long-term liabilities  $ (2,699) $ 2,760  The following table summarizes the amount and location of gains (losses) associated with our derivative financial instruments and other foreign-currency-denominated transactions for the fiscal years ended June 30, 2018 and June 30, 2017 , respectively (in thousands):     Gain /(Loss) Recognized Income Statement Caption  Twelve Months Ended June 30,  2018 2017  Foreign currency hedging instruments $ (21,294) $ 1,812 Other, net  Other foreign-currency-denominated transactions 19,748 3,622 Other, net  $ (1,546) $ 5,434  We are exposed to credit-related losses in the event of non-performance by counter parties to financial instruments. We minimize counterparty credit risk by entering into derivative transactions with major financial institutions and we do not expect material losses as a result of default by our counterparties. |
Business Combinations
Business Combinations | 12 Months Ended |
Jun. 30, 2018 | |
Business Combinations [Abstract] | |
Business Combinations | (22) Business Combinations  Fiscal year ended June 30, 2018  During the year ended June 30, 2018, we did not complete any material acquisitions.  Fiscal year ended June 30, 2017  On May 31, 2017 , we completed the acquisition of assets in Conduit Technology, LLC (“Conduit”), a provider of documentation and workflow solutions. On June 30, 2017 , we completed the acquisition of assets in AllCall Connect, LLC (“AllCall”), a provider of a live-calling solution for CPAP patient resupply. These acquisitions have been accounted for as business combinations using purchase accounting and are included in our consolidated financial statements from their respective acquisition dates. The acquisitions, individually and collectively, are not considered a material business combination and accordingly pro forma information is not provided. The acquisitions were funded through cash on-hand.  We have completed the purchase price allocations associated with the Conduit and AllCall acquisitions which did not result in any changes to the preliminary purchase price allocations recognized. The cost of the acquisitions was allocated to the assets acquired and liabilities assumed based on estimates of their fair values at the date of acquisition. The goodwill recognized as part of these acquisitions, which is deductible for tax purposes, mainly represents the synergies that are unique to our combined businesses and the potential for new products and services to be developed in the future. The fair values of assets acquired and liabilities assumed, and the estimated useful lives of intangible assets acquired are as follows (in thousands):    Final Intangible assets - useful life  Current assets $ -  Property, plant and equipment 69  Trade names 100 3 years  Non-compete 520 1 - 3 years  Developed technology 1,800 5 years  Customer relationships 2,160 5 years  Goodwill 2,000  Assets acquired $ 6,649  Current liabilities (60)  Total liabilities assumed $ (60)  Net assets acquired $ 6,589  During the year ended June 30, 2017 we did no t record material acquisition-related expenses.  Fiscal year ended June 30, 2016  Brightree  On April 4, 2016 , we completed the acquisition of Brightree LLC (“Brightree”), a provider of cloud-based clinical and business management software for the post-acute care industry, for a total purchase consideration paid of $802 million. This acquisition has been accounted for as a business combination using purchase accounting and included in our consolidated financial statements from April 4, 2016. The acquisition was funded through cash on-hand, funds available from the existing revolving credit facility, an increase in the size of our revolving credit facility from $700 million to $1 billion and we also entered into a $300 million senior unsecured one -year term loan credit facility.  We completed the purchase price allocation in relation to this acquisition during the quarter ended March 31, 2017. The cost of the acquisition was allocated to the assets acquired and liabilities assumed based on estimates of their fair values at the date of acquisition. The goodwill recognized as part of these acquisitions, which is deductible for tax purposes, mainly represents the synergies that are unique to our combined businesses and the potential for new products and services to be developed in the future. The fair values of assets acquired and liabilities assumed, and the estimated useful lives of intangible assets acquired, are as follows (in thousands):      Final Intangible assets - useful life  Current assets $ 15,310  Property, plant and equipment 1,045  Trade names 28,700 10 years  In-process research and development 4,100 n/a  Developed technology 114,700 5 to 6 years  Customer relationships 51,000 10 to 15 years  Goodwill 602,996  Assets acquired $ 817,851  Current liabilities (9,399)  Deferred revenue (4,571)  Deferred tax liabilities -  Total liabilities assumed $ (13,970)  Net assets acquired $ 803,881  |
Restructuring Expenses
Restructuring Expenses | 12 Months Ended |
Jun. 30, 2018 | |
Restructuring Expenses [Abstract] | |
Restructuring Expenses | (23) Restructuring Expenses  During the year ended June 30, 2018 , we incurred restructuring expenses of $ 18.4 million associated with a global strategic workforce planning review, which resulted in a reduction in headcount across most of our functions and locations and closure of our Paris site. We recorded the full amount of $18.4 million during the year ended June 30, 2018, within our operating expenses which was separately disclosed as restructuring expenses and had $1.5 million remaining in our employee related costs accrual at year end. The restructuring expenses consisted primarily of severance payments to employees and the remaining expense relating to legal and consulting services associated with the completion of the employee severances and contract exit costs associated with the Paris site.  During the year ended June 30, 2017, we incurred restructuring expenses of $12.4 million associated with the reorganization of our Paris manufacturing activities and German research and development activities. The restructuring expenses consisted primarily of severance payments to employees, site closure costs and associated project cancellation costs. We recorded the full amount of $12.4 million during the year ended June 30, 2017, within our operating expenses and separately disclosed the amount as restructuring expenses. We had $6.5 million remaining in our employee related costs accrual at year end which was paid out during the year ended June 30, 2018 .  During the year ended June 30, 2016, we incurred restructuring expenses of $6.9 million associated with rationalizing our European research & development operations and manufacturing facilities. The restructuring expenses consisted primarily of severance payments and an asset write-down of a legacy manufacturing facility. We recorded and paid the full amount of $6.9 million during the year ended June 30, 2016, within our operating expenses and separately disclosed the amount as restructuring expenses. |
Litigation Settlement Expenses
Litigation Settlement Expenses | 12 Months Ended |
Jun. 30, 2018 | |
Litigation Settlement Expenses [Abstract] | |
Litigation Settlement Expenses | (24) Litigation Settlement Expenses  During the fiscal year ended June 30, 2017 we recognized litigation settlement expenses of $8.5 million associated with an agreement with Chinese manufacturer, BMC Medical, and its U.S. distributor, 3B, to settle all outstanding disputes. The material terms of the settlement were: · ResMed paid 3B the amount of $8.5 million to settle all claims in the Florida case, including claims against our three customers. · We agreed that for five years from the date of the agreement, we would not initiate legal suit against BMC for patent infringement for selling their range of devices and masks that were the subject of the current dispute. BMC agreed to pay us royalties on the sale of those products in the United States. · Mutual release and dismissal of all litigation current at the time of settlement, worldwide, including all validity challenges. It was agreed that neither party will initiate legal suit against the other for a period of five years without a 90 day meet and confer process. |
Schedule II Valuation And Quali
Schedule II Valuation And Qualifying Accounts And Reserves | 12 Months Ended |
Jun. 30, 2018 | |
Schedule II Valuation And Qualifying Accounts And Reserves [Abstract] | |
Schedule II Valuation And Qualifying Accounts And Reserves | SCHEDULE II RESMED INC. AND SUBSIDIARIES VALUATION AND QUALIFYING ACCOUNTS AND RESERVES June 30, 2018, 2017 and 2016 (in thousands)     Balance at Beginning of Period Charged to costs and expenses Other (deductions) Balance at End of Period  Year ended June 30, 2018  Applied against asset account  Allowance for doubtful accounts $ 11,150 $ 15,189 $ (7,081) $ 19,258  Year ended June 30, 2017  Applied against asset account  Allowance for doubtful accounts $ 12,555 $ 4,269 $ (5,674) $ 11,150  Year ended June 30, 2016  Applied against asset account  Allowance for doubtful accounts $ 12,276 $ 3,383 $ (3,104) $ 12,555  See accompanying report of independent registered public accounting firm. |
Summary Of Significant Accoun33
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Jun. 30, 2018 | |
Summary Of Significant Accounting Policies [Abstract] | |
Basis Of Consolidation | Basis of Consolidation  The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant inter-company transactions and balances have been eliminated in consolidation.  The preparation of financial statements in conformity with U.S. generally accounting principles requires management estimates and assumptions that affect amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from management’s estimates. |
Revenue Recognition | Revenue Recognition  We generally record revenue on product sales at the time of shipment, which is when title transfers to the customer. We do not record revenue on product sales which require customer acceptance until we receive acceptance. We initially defer service revenue received in advance from service contracts and recognize that deferred revenue ratably over the life of the service contract. We initially defer revenue we receive in advance from rental unit contracts and recognize that deferred revenue ratably over the life of the rental contract. Otherwise, we recognize revenue from rental unit contracts ratably over the life of the rental contract. We include in revenue freight charges we bill to customers. We charge all freight-related expenses to cost of sales. Taxes assessed by government authorities that are imposed on and concurrent with revenue-producing transactions, such as sales and value added taxes, are excluded from revenue.  We do not recognize revenues to the extent that we offer a right of return or other recourse with respect to the sale of our products, other than returns for product defects or other warranty claims, nor do we recognize revenues if we offer variable sale prices for subsequent events or activities. However, as part of our sales processes we may provide upfront discounts for large orders, one-time special pricing to support new product introductions, sales rebates for centralized purchasing entities or price-breaks for regular order volumes. We record the costs of all such programs as an adjustment to revenue at the time the related revenue is recognized. Our products are predominantly therapy-based equipment and require no installation. Therefore, we have no installation obligations. For multiple-element arrangements, we allocate arrangement consideration to the deliverables by use of the relative selling price method. The selling price used for each deliverable is based on vendor–specific objective evidence.  We also generate revenue from time-based licensing of our software and associated services. In most instances, revenue is generated under sales agreements with multiple elements comprising subscription fees and professional services, which typically have contract terms of one to three years. We evaluate each element in these multiple-element arrangements to determine whether they represent a separate unit of accounting and recognize each element as the services are performed.  |
Cash And Cash Equivalents | Cash and Cash Equivalents  Cash equivalents include certificates of deposit and other highly liquid investments and we state them at cost, which approximates market. We consider investments with original maturities of 90 days or less to be cash equivalents for purposes of the consolidated statements of cash flows.  Our cash and cash equivalents balance at June 30, 2018 , include $2.5 million in cash which is subject to notice periods of up to 90 days. These cash balances earn interest rates above normal term deposit rates otherwise available and are held at highly rated financial institutions.  |
Inventories | Inventories  We state inventories at the lower of cost (determined principally by the first-in, first-out method) or net realizable value. We include material, labor and manufacturing overhead costs in finished goods and work-in-process inventories. We review and provide for any product obsolescence in our manufacturing and distribution operations by assessing throughout the year individual products and components (based on estimated future usage and sales). |
Property, Plant And Equipment | Property, Plant and Equipment  We record property, plant and equipment, including rental and demonstration equipment at cost. We compute depreciation expense using the straight-line method over the estimated useful lives of the assets. Useful lives are generally two to ten years except for buildings which are depreciated over an estimated useful life of 40 years and leasehold improvements, which we amortize over the lease term. We charge maintenance and repairs to expense as we incur them. |
Intangible Assets | Intangible Assets  We capitalize the registration costs for new patents and amortize the costs over the estimated useful life of the patent, which is generally five years. If a patent is superseded or a product is retired, any unamortized costs are written off immediately.  We amortize all of our other intangible assets on a straight-line basis over their estimated useful lives, which range from two to fifteen years. We evaluate the recoverability of intangible assets periodically and take into account events or circumstances that warrant revised estimates of useful lives or that indicate that impairment exists. We have no t identified any impairment of intangible assets during any of the periods presented. |
Goodwill | Goodwill  We conducted our annual review for goodwill impairment during the final quarter of 2018 . Our goodwill impairment tests are performed at our reporting unit level which is one level below our operating segment. Fair value is determined based on estimated discounted cash flows. Our goodwill impairment review involved the following steps:  Step 0 or Qualitative assessment – Evaluate qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. Factors considered included, but were not limited to, macroeconomic conditions, industry and market considerations, cost factors, overall financial performance or events-specific to that reporting unit. If or when we determine it is more likely than not that the fair value of a reporting unit is less than the carrying amount, including goodwill, we would move to Step 1 of the quantitative method.  Step 1 – Compare the fair value for each reporting unit to its carrying value, including goodwill. For each reporting unit where the carrying value, including goodwill, exceeds the reporting unit’s fair value, move on to Step 2. If a reporting unit’s fair value exceeds the carrying value, no further work is performed and no impairment charge is necessary.  Step 2 – Allocate the fair value of the reporting unit to its identifiable tangible and non-goodwill intangible assets and liabilities. This will derive an implied fair value for the goodwill. Then, compare the implied fair value of the reporting unit’s goodwill with the carrying amount of the reporting unit’s goodwill. If the carrying amount of the reporting unit’s goodwill is greater than the implied fair value of its goodwill, an impairment loss must be recognized for the excess.  The results of our review indicated that no impaired goodwill exists as the fair value for each reporting unit exceeded its carrying value. |
Foreign Currency | Foreign Currency  The consolidated financial statements of our non-U.S. subsidiaries, whose functional currencies are other than the U.S. dollar, are translated into U.S. dollars for financial reporting purposes. We translate assets and liabilities of non-U.S. subsidiaries whose functional currencies are other than the U.S. dollar at period end exchange rates, but translate revenue and expense transactions at average exchange rates for the period. We recognize cumulative translation adjustments as part of comprehensive income, as detailed in the consolidated statements of comprehensive income, and include those adjustments in accumulated other comprehensive income in the consolidated balance sheets until such time the relevant subsidiary is sold or substantially or completely liquidated. We reflect gains and losses on transactions denominated in other than the functional currency of an entity in our results of operations.  |
Research And Development | Research and Development  We record all research and development expenses in the period we incur them. |
Financial Instruments | Financial Instruments  The carrying value of financial instruments, such as cash equivalents, accounts receivable and accounts payable, approximate their fair value because of their short-term nature. The carrying value of long-term debt approximates its fair value as the principal amounts outstanding are subject to variable interest rates that are based on market rates which are regularly reset. Foreign currency hedging instruments are marked to market and therefore reflect their fair value. We do not hold or issue financial instruments for trading purposes.  The fair value of financial instruments is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. |
Foreign Exchange Risk Management | Foreign Exchange Risk Management  We enter into various types of foreign exchange contracts in managing our foreign exchange risk, including derivative financial instruments encompassing forward exchange contracts and foreign currency options.  The purpose of our foreign currency hedging activities is to protect us from adverse exchange rate fluctuations with respect to net cash movements resulting from the sales of products to foreign customers and Australian and Singapore manufacturing activities. We enter into foreign exchange contracts to hedge anticipated sales and manufacturing costs, principally denominated in Australian and Singapore dollars, and Euros. The terms of such foreign exchange contracts generally do not exceed three years.  We have determined our hedge program to be a non-effective hedge as defined. We record the foreign currency derivatives portfolio at fair value and include it in other assets and accrued expenses in our consolidated balance sheets. We do not offset the fair value amounts recognized for foreign currency derivatives. We classify purchases of foreign currency derivatives and proceeds received from the exercise of foreign currency derivatives as an investing activity within our consolidated statements of cash flows.  We record all movements in the fair value of the foreign currency derivatives within other income, net in our consolidated statements of income. |
Income Taxes | Income Taxes  We account for income taxes under the asset and liability method. We recognize deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. We measure deferred tax assets and liabilities using the enacted tax rates we expect to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. |
Provision For Warranty | Provision for Warranty  We provide for the estimated cost of product warranties at the time the related revenue is recognized. We determine the amount of this provision by using a financial model, which takes into consideration actual historical expenses and potential risks associated with our different products. We use this financial model to calculate the future probable expenses related to warranty and the required level of the warranty provision. Although we engage in product improvement programs and processes, our warranty obligation is affected by product failure rates and costs incurred to correct those product failures. Should actual product failure rates or estimated costs to repair those product failures differ from our estimates, we would be required to revise our estimated warranty provision. |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts  We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments, which results in bad debt expense. We determine the adequacy of this allowance by periodically evaluating individual customer receivables, considering a customer’s financial condition, credit history and current economic conditions. We are also contingently liable, within certain limits, in the event of a customer default, to independent leasing companies in connection with customer leasing programs. We monitor the collection status of these installment receivables and provide for estimated losses separately under accrued expenses within our consolidated balance sheets based upon our historical collection experience with such receivables and a current assessment of our credit exposure.  |
Impairment Of Long-Lived Assets | Impairment of Long-Lived Assets  We periodically evaluate the carrying value of long-lived assets to be held and used, including certain identifiable intangible assets, when events and circumstances indicate that the carrying amount of an asset may not be recovered. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If assets are considered to be impaired, we recognize as the impairment the amount by which the carrying amount of the assets exceeds the fair value of the assets. We report assets to be disposed of at the lower of the carrying amount or fair value less costs to sell.  We did not recognize impairment charges in relation to long-lived assets during the fiscal years ended June 30, 2018 and 2017, but during the fiscal year ended June 30, 2016 we recognized $2.8 million of impairment charges. |
Contingencies | Contingencies  We record a liability in the consolidated financial statements for loss contingencies when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss is reasonably possible but not known or probable, and can be reasonably estimated, the estimated loss or range of loss is disclosed. When determining the estimated loss or range of loss, significant judgment is required to estimate the amount and timing of a loss to be recorded. |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Inventories [Abstract] | |
Schedule Of Inventories |   June 30, 2018 June 30, 2017  Raw materials $ 75,415 $ 75,658  Work in progress 2,453 4,297  Finished goods 190,833 188,364  Total inventories $ 268,701 $ 268,319  |
Property, Plant And Equipment35
Property, Plant And Equipment, Net (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Property, Plant And Equipment, Net [Abstract] | |
Components Of Property, Plant And Equipment |   June 30, 2018 June 30, 2017  Machinery and equipment $ 239,671 $ 230,632  Computer equipment 155,069 154,032  Furniture and fixtures 51,045 47,074  Vehicles 7,399 7,667  Clinical, demonstration and rental equipment 92,229 86,024  Leasehold improvements 32,169 35,932  Land 54,089 55,311  Buildings 229,193 233,868  860,864 850,540  Accumulated depreciation and amortization (474,314) (456,299)  Property, plant and equipment, net $ 386,550 $ 394,241  |
Goodwill And Other Intangible36
Goodwill And Other Intangible Assets, Net (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Goodwill And Other Intangible Assets, Net [Abstract] | |
Schedule Of Changes In Carrying Amount Of Goodwill |   Twelve Months Ended June 30,  2018 2017  Balance at the beginning of the period $ 1,064,874 $ 1,059,245  Business acquisition 247 (645)  Foreign currency translation adjustments 3,823 6,274  Balance at the end of the period $ 1,068,944 $ 1,064,874  |
Schedule Of Other Intangible Assets, Net |   June 30, 2018 June 30, 2017  Developed/core product technology $ 205,149 $ 206,258  Accumulated amortization (115,237) (93,079)  Developed/core product technology, net 89,912 113,179  Trade names 48,832 48,768  Accumulated amortization (16,868) (10,894)  Trade names, net 31,964 37,874  Non-compete agreements 3,288 3,660  Accumulated amortization (2,283) (2,236)  Non-compete agreements, net 1,005 1,424  Customer relationships 118,084 122,458  Accumulated amortization (48,157) (40,050)  Customer relationships, net 69,927 82,408  In-process research and development - 4,100  In-process research and development, net - 4,100  Patents 91,708 85,780  Accumulated amortization (69,332) (62,965)  Patents, net 22,376 22,815  Total other intangibles, net $ 215,184 $ 261,800  |
Schedule Of Amortization Expense Related To Identifiable Intangible Assets, Including Patents |   Fiscal Year Amortization expense  2019 $ 53,240  2020 48,201  2021 40,532  2022 30,921  2023 12,137  |
Cost-Method Investments (Tables
Cost-Method Investments (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Cost-Method Investments [Abstract] | |
Schedule Of Reconciliation Of Changes In Cost-Method Investments |   Twelve Months Ended June 30,  2018 2017  Balance at the beginning of the period $ 38,324 $ 33,815  Investments 14,495 6,464  Impairment of cost-method investments (11,593) (1,955)  Balance at the end of the period $ 41,226 $ 38,324  |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Accrued Expenses [Abstract] | |
Schedule Of Accrued Expenses |   June 30, 2018 June 30, 2017  Product warranties $ 19,227 $ 19,558  Consulting and professional fees 10,341 10,506  Value added taxes and other taxes due 20,130 18,228  Employee related costs 109,280 100,410  Marketing and promotional programs 3,466 2,661  Business acquisition contingent consideration 1,505 651  Hedging instruments 2,373 460  Liability on receivables sold with recourse (note 19) 2,277 18,068  Accrued interest 120 1,050  Logistics and occupancy expenses 6,356 3,815  Other 10,730 10,888  $ 185,805 $ 186,295  |
Product Warranties (Tables)
Product Warranties (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Product Warranties [Abstract] | |
Schedule Of Changes In Liability For Warranty Costs |   2018 2017  Balance at the beginning of the period $ 19,558 $ 15,043  Warranty accruals for the period 17,339 19,805  Warranty costs incurred for the period (17,406) (15,489)  Foreign currency translation adjustments (264) 199  Balance at the end of the period $ 19,227 $ 19,558  |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Debt [Abstract] | |
Schedule Of Debt |   June 30, 2018 June 30, 2017  Short-term debt $ 12,000 $ -  Deferred borrowing costs (534) -  Short-term debt, net 11,466 -  -  Long-term debt $ 272,000 $ 1,080,000  Deferred borrowing costs (2,012) (1,389)  Long-term debt, net $ 269,988 $ 1,078,611  Total debt $ 281,454 $ 1,078,611  |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Stockholders' Equity [Abstract] | |
Schedule Of Option Activity |     Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term in Years  Outstanding at beginning of period 1,495,573 $ 47.09 3.9  Granted 248,821 85.42  Exercised (538,568) 34.83  Forfeited - -  Outstanding at end of period 1,205,826 $ 60.48 4.4  Exercise price of granted options $ 85.42  Options exercisable at end of period 683,620 $ 52.26 * Includes NIL shares netted for tax. |
Schedule Of Activity Of Restricted Stock Units |    Restricted Stock Units Weighted Average Grant-Date Fair Value Weighted Average Remaining Contractual Term in Years  Outstanding at beginning of period 1,906,394 $ 53.26 1.6  Granted 570,332 80.24  Vested (393,617) 52.35  Expired / cancelled (366,445) -  Forfeited (71,910) 58.17  Outstanding at end of period 1,644,754 $ 62.89 1.6 * Includes 179,847 shares netted for tax. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
Schedule Of Basic And Diluted Earnings Per Share |   2018 2017 2016  Numerator:  Net income $ 315,588 $ 342,284 $ 352,409  Denominator:  Basic weighted-average common shares outstanding 142,764 141,360 140,242  Effect of dilutive securities:  Stock options and restricted stock units 1,223 1,093 1,427  Diluted weighted average shares 143,987 142,453 141,669  Basic earnings per share $ 2.21 $ 2.42 $ 2.51  Diluted earnings per share $ 2.19 $ 2.40 $ 2.49  |
Other, Net (Tables)
Other, Net (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Other, Net [Abstract] | |
Schedule Of Other Net Income |   2018 2017 2016  Gain (loss) on foreign currency transactions and hedging, net $ (1,546) $ 5,434 $ 4,169  Impairment of cost method investments (11,593) (1,955) (750)  Other 4,597 617 1,541  $ (8,542) $ 4,096 $ 4,960  |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Income Taxes [Abstract] | |
Schedule Of Income Before Income Taxes Under The Jurisdictions |   2018 2017 2016  U.S. $ 42,627 $ (4,985) $ 1,785  Non-U.S. 478,685 423,728 437,781  $ 521,312 $ 418,743 $ 439,566  |
Schedule Of Provision For Income Taxes |   2018 2017 2016  Current: Federal $ 128,971 $ 16,468 $ 24,325  State 948 (1,159) 5,805  Non-U.S. 68,858 65,612 58,023  198,777 80,921 88,153  Deferred: Federal 9,488 11,385 5,640  State (350) 2,706 (1,644)  Non-U.S. (2,191) (18,553) (4,992)  6,947 (4,462) (996)  Provision for income taxes $ 205,724 $ 76,459 $ 87,157  |
Schedule Of Provision For Income Tax Differ From The Amount Of Income Tax |  2018 2017 2016  Taxes computed at statutory U.S. rate (1) $ 146,280 $ 146,560 $ 153,848  Increase (decrease) in income taxes resulting from:  Transition tax 126,753 - -  State income taxes, net of U.S. tax benefit 2,427 (1,294) 2,573  Research and development credit (4,089) (2,804) (5,138)  Change in statutory tax rates 16,685 - -  Tax effect of dividends - 97,662 80,754  Change in valuation allowance (2,962) 4,021 (5,882)  Effect of non-U.S. tax rates (70,250) (97,141) (91,124)  Foreign tax credits (2) (6,473) (67,689) (44,835)  Stock-based compensation expense (7,045) (3,107) (8,170)  Other 4,398 251 5,131  $ 205,724 $ 76,459 $ 87,157  (1) In fiscal year 2018, as a result of U.S. tax legislation, the statutory U.S. tax rate was 28%. (2) In fiscal year 2018, $75.5 million of the foreign tax credit is included as a reduction in the transition tax. |
Components Of Deferred Tax Assets And Liabilities |   2018 2017  Deferred tax assets:  Employee liabilities $ 16,184 $ 19,275  Tax credit carry overs 9,031 501  Inventories 5,840 10,126  Provision for warranties 3,904 4,766  Provision for doubtful debts 3,817 2,967  Net operating loss carryforwards 26,355 36,117  Capital loss carryover 3,932 2,625  Property, plant and equipment 6,121 3,850  Stock-based compensation expense 9,322 15,143  Other 4,515 4,569  89,021 99,939  Less valuation allowance (12,297) (15,259)  Deferred tax assets 76,724 84,680  Deferred tax liabilities:  Goodwill and other intangibles (35,990) (36,999)  Deferred tax liabilities (35,990) (36,999)  Net deferred tax asset $ 40,734 $ 47,681  |
Schedule Of Deferred Tax Assets And Liabilities Classified As Current And Non-Current |   2018 2017  Non-current deferred tax asset $ 53,818 $ 61,503  Non-current deferred tax liability (13,084) (13,822)  Net deferred tax asset $ 40,734 $ 47,681  |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Segment Information [Abstract] | |
Schedule Of Revenue By Geographic Area |   Revenue from external sources for the years ended June 30,  2018 2017 2016  United States $ 1,345,212 $ 1,229,196 $ 1,056,453  Rest of the World 994,984 837,541 782,260  Total $ 2,340,196 $ 2,066,737 $ 1,838,713  |
Schedule Of Long-Lived Assets By Geographic Areas |   Long lived assets at June 30,  2018 2017 2016  United States $ 142,337 $ 150,677 $ 148,789  Australia 173,394 183,159 185,978  Rest of the World 70,819 60,405 49,509  Total $ 386,550 $ 394,241 $ 384,276  |
Stock-Based Employee Compensa46
Stock-Based Employee Compensation (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Stock-Based Employee Compensation [Abstract] | |
Schedule Of Assumptions For Fair Value Of Stock Option Plans And Purchase Rights Granted |   Fiscal Year Ended June 30,  2018 2017 2016  Stock options:  Weighted average grant date fair value $ 16.68 $ 10.89 $ 12.18  Weighted average risk-free interest rate 2.08% 1.61% 1.66%  Expected life in years 4.9 4.9 4.9  Dividend yield 1.46% - 1.65% 2.02% - 2.29% 2.06% - 2.09%  Expected volatility 23% 25% 27%  ESPP purchase rights:  Weighted average grant date fair value $ 17.44 $ 12.50 $ 13.61  Weighted average risk-free interest rate 0.8% 0.5% 0.2%  Expected life in years 6 months 6 months 6 months  Dividend yield 1.47% - 1.92% 1.92% - 2.27% 1.96% - 2.14%  Expected volatility 23% 23% 23% - 32%  |
Schedule Of Total Stock-Based Compensation Costs Incurred And Associated Tax Benefit Recognized |   2018 2017 2016  Cost of sales - capitalized as part of inventory $ 2,990 $ 2,877 $ 2,731  Selling, general and administrative expenses 39,754 37,096 36,994  Research and development expenses 5,668 5,952 6,683  Stock-based compensation costs 48,412 45,925 46,408  Tax benefit (17,078) (20,100) (25,020)  Stock-based compensation costs, net of tax benefit $ 31,334 $ 25,825 $ 21,388  |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Commitments [Abstract] | |
Schedule Of Future Minimum Lease Payments |   Fiscal Years Operating Leases  2019 $ 18,343  2020 12,585  2021 8,382  2022 5,929  2023 4,686  Thereafter 7,539  Total minimum lease payments $ 57,464  |
Legal Actions And Contingenci48
Legal Actions And Contingencies (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Legal Actions And Contingencies [Abstract] | |
Summary Of Receivables Sold With Recourse |   Twelve Months Ended June 30,  2018 2017  Total receivables sold:  Full recourse $ 25,829 $ 24,592  Limited recourse 79,397 74,735  Total $ 105,226 $ 99,327  |
Summary Of Maximum Exposure On Outstanding Receivables Sold With Recourse And Provision |   June 30, 2018 June 30, 2017  Maximum exposure on outstanding receivables:  Full recourse $ 20,139 $ 18,068  Limited recourse 9,239 9,432  Total $ 29,378 $ 27,500   Contingent provision for receivables with recourse $ (2,277) $ (1,437)  |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Fair Value Measurements [Abstract] | |
Summary Of Financial Assets And Liabilities |   Level 1 Level 2 Level 3 Total  Balances at June 30, 2018  Foreign currency hedging instruments, net $ - $ (2,699) $ - $ (2,699)  Business acquisition contingent consideration $ - $ - $ (1,505) $ (1,505)  Balances at June 30, 2017  Foreign currency hedging instruments, net $ - $ 2,760 $ - $ 2,760  Business acquisition contingent consideration $ - $ - $ (1,580) $ (1,580)  |
Reconciliation For Fair Value Measurements Using Significant Unobservable Inputs |  2018 2017  Balance at the beginning of the period $ (1,580) $ (10,450)  Acquisition date fair value of contingent consideration - (1,580)  Changes in fair value included in operating income (1) (411) (10,076)  Payments 486 20,142  Foreign currency translation adjustments - 384  Balance at the end of the period $ (1,505) $ (1,580)  (1) During the year ended June 30, 2017 we recognized a charge of $10.1 million representing additional contingent consideration associated with the acquisition of Curative Medical Technology Inc., following the achievement of performance milestones under the purchase agreement which exceeded our earlier expectations. |
Derivative Instruments And He50
Derivative Instruments And Hedging Activities (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Derivative Instruments And Hedging Activities [Abstract] | |
Summary Of Amount And Location Of Derivative Financial Instruments |   June 30, 2018 June 30, 2017 Balance Sheet Caption  Foreign currency hedging instruments $ 281 $ 2,614 Other assets - current  Foreign currency hedging instruments - 1,273 Other assets - non current  Foreign currency hedging instruments (2,373) (1,127) Accrued expenses  Foreign currency hedging instruments (607) - Other long-term liabilities  $ (2,699) $ 2,760  |
Summary Of Gains (Losses) Associated With Derivative Financial Instruments |   Gain /(Loss) Recognized Income Statement Caption  Twelve Months Ended June 30,  2018 2017  Foreign currency hedging instruments $ (21,294) $ 1,812 Other, net  Other foreign-currency-denominated transactions 19,748 3,622 Other, net  $ (1,546) $ 5,434  |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Jun. 30, 2018 | |
Conduit And AllCall [Member] | |
Fair Values Of Assets Acquired, Liabilities Assumed, And Estimated Useful Lives |   Final Intangible assets - useful life  Current assets $ -  Property, plant and equipment 69  Trade names 100 3 years  Non-compete 520 1 - 3 years  Developed technology 1,800 5 years  Customer relationships 2,160 5 years  Goodwill 2,000  Assets acquired $ 6,649  Current liabilities (60)  Total liabilities assumed $ (60)  Net assets acquired $ 6,589  |
Brightree LLC [Member] | |
Fair Values Of Assets Acquired, Liabilities Assumed, And Estimated Useful Lives |   Final Intangible assets - useful life  Current assets $ 15,310  Property, plant and equipment 1,045  Trade names 28,700 10 years  In-process research and development 4,100 n/a  Developed technology 114,700 5 to 6 years  Customer relationships 51,000 10 to 15 years  Goodwill 602,996  Assets acquired $ 817,851  Current liabilities (9,399)  Deferred revenue (4,571)  Deferred tax liabilities -  Total liabilities assumed $ (13,970)  Net assets acquired $ 803,881  |
Summary Of Significant Accoun52
Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2015 | |
Summary Of Significant Accounting Policies [Line Items] | ||||
Cash and cash equivalents | $ 188,701 | $ 821,935 | $ 731,434 | $ 717,249 |
Impairment of intangible assets | 0 | |||
Impairment of long lived assets | $ 2,815 | |||
Impairment of goodwill | $ 0 | $ 0 | ||
Patents [Member] | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Intangible assets, estimated useful life | 5 years | |||
Minimum [Member] | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Contract term under revenue recognition | 1 year | |||
Estimated useful life of property, plant and equipment, years | 2 years | |||
Intangible assets, estimated useful life | 2 years | |||
Maximum [Member] | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Contract term under revenue recognition | 3 years | |||
Contract term under foreign exchange | 3 years | |||
Estimated useful life of property, plant and equipment, years | 10 years | |||
Intangible assets, estimated useful life | 15 years | |||
Buildings [Member] | ||||
Summary Of Significant Accounting Policies [Line Items] | ||||
Estimated useful life of property, plant and equipment, years | 40 years |
New Accounting Pronouncements (
New Accounting Pronouncements (Narrative) (Details) $ in Millions | Jul. 01, 2018USD ($) |
ASU 2016-16 [Member] | Subsequent Event [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Cumulative effect adjustment to retained earnings and reduction prepaid taxes | $ 185.6 |
Inventories (Schedule Of Invent
Inventories (Schedule Of Inventories) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Inventories [Abstract] | ||
Raw materials | $ 75,415 | $ 75,658 |
Work in progress | 2,453 | 4,297 |
Finished goods | 190,833 | 188,364 |
Total inventories | $ 268,701 | $ 268,319 |
Property, Plant And Equipment55
Property, Plant And Equipment, Net (Components Of Property, Plant And Equipment) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 860,864 | $ 850,540 |
Accumulated depreciation and amortization | (474,314) | (456,299) |
Property, plant and equipment, net | 386,550 | 394,241 |
Machinery And Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 239,671 | 230,632 |
Computer Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 155,069 | 154,032 |
Furniture And Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 51,045 | 47,074 |
Vehicles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 7,399 | 7,667 |
Clinical, Demonstration And Rental Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 92,229 | 86,024 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 32,169 | 35,932 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 54,089 | 55,311 |
Buildings [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 229,193 | $ 233,868 |
Goodwill And Other Intangible56
Goodwill And Other Intangible Assets, Net (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Goodwill [Line Items] | ||
Impairment of goodwill | $ 0 | $ 0 |
Amortization expense | $ 46.4 | |
Patents [Member] | ||
Goodwill [Line Items] | ||
Intangible assets, estimated useful life | 5 years | |
Amortization expense | $ 8 | |
Minimum [Member] | ||
Goodwill [Line Items] | ||
Intangible assets, estimated useful life | 2 years | |
Maximum [Member] | ||
Goodwill [Line Items] | ||
Intangible assets, estimated useful life | 15 years |
Goodwill And Other Intangible57
Goodwill And Other Intangible Assets, Net (Schedule Of Changes In Carrying Amount Of Goodwill) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Goodwill And Other Intangible Assets, Net [Abstract] | |||
Balance at the beginning of the period | $ 1,064,874 | $ 1,059,245 | |
Business acquisition | 247 | (645) | $ 796,306 |
Foreign currency translation adjustments | 3,823 | 6,274 | |
Balance at the end of the period | $ 1,068,944 | $ 1,064,874 | $ 1,059,245 |
Goodwill And Other Intangible58
Goodwill And Other Intangible Assets, Net (Schedule Of Other Intangible Assets, Net) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Finite-Lived Intangible Assets [Line Items] | ||
Total other intangibles, net | $ 215,184 | $ 261,800 |
Developed/Core Product Technology [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Other intangibles, gross | 205,149 | 206,258 |
Accumulated amortization | (115,237) | (93,079) |
Total other intangibles, net | 89,912 | 113,179 |
Trade Names [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Other intangibles, gross | 48,832 | 48,768 |
Accumulated amortization | (16,868) | (10,894) |
Total other intangibles, net | 31,964 | 37,874 |
Non-Compete Agreements [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Other intangibles, gross | 3,288 | 3,660 |
Accumulated amortization | (2,283) | (2,236) |
Total other intangibles, net | 1,005 | 1,424 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Other intangibles, gross | 118,084 | 122,458 |
Accumulated amortization | (48,157) | (40,050) |
Total other intangibles, net | 69,927 | 82,408 |
In-Process Research And Development [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Other intangibles, gross | 4,100 | |
Total other intangibles, net | 4,100 | |
Patents [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Other intangibles, gross | 91,708 | 85,780 |
Accumulated amortization | (69,332) | (62,965) |
Total other intangibles, net | $ 22,376 | $ 22,815 |
Goodwill And Other Intangible59
Goodwill And Other Intangible Assets, Net (Schedule Of Amortization Expense Related To Identifiable Intangible Assets, Including Patents) (Details) $ in Thousands | Jun. 30, 2018USD ($) |
Goodwill And Other Intangible Assets, Net [Abstract] | |
2,019 | $ 53,240 |
2,020 | 48,201 |
2,021 | 40,532 |
2,022 | 30,921 |
2,023 | $ 12,137 |
Cost-Method Investments (Narrat
Cost-Method Investments (Narrative) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 |
Cost-Method Investments [Abstract] | |||
Aggregate carrying amount of cost-method investments | $ 41,226 | $ 38,324 | $ 33,815 |
Cost-Method Investments (Schedu
Cost-Method Investments (Schedule Of Reconciliation Of Changes In Cost-Method Investments) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Cost-Method Investments [Abstract] | |||
Balance at the beginning of the period | $ 38,324 | $ 33,815 | |
Investments | 14,495 | 6,464 | $ 8,965 |
Impairment of cost-method investments | (11,593) | (1,955) | (750) |
Balance at the end of the period | $ 41,226 | $ 38,324 | $ 33,815 |
Accrued Expenses (Schedule Of A
Accrued Expenses (Schedule Of Accrued Expenses) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Accrued Expenses [Abstract] | ||
Product warranties | $ 19,227 | $ 19,558 |
Consulting and professional fees | 10,341 | 10,506 |
Value added taxes and other taxes due | 20,130 | 18,228 |
Employee related costs | 109,280 | 100,410 |
Marketing and promotional programs | 3,466 | 2,661 |
Business acquisition contingent consideration | 1,505 | 651 |
Hedging instruments | 2,373 | 460 |
Liability on receivables sold with recourse (note 19) | 2,277 | 18,068 |
Accrued interest | 120 | 1,050 |
Logistics and occupancy expenses | 6,356 | 3,815 |
Other | 10,730 | 10,888 |
Total accrued expenses | $ 185,805 | $ 186,295 |
Product Warranties (Schedule Of
Product Warranties (Schedule Of Changes In Liability For Warranty Costs) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Product Warranties [Abstract] | ||
Balance at the beginning of the period | $ 19,558 | $ 15,043 |
Warranty accruals for the period | 17,339 | 19,805 |
Warranty costs incurred for the period | (17,406) | (15,489) |
Foreign currency translation adjustments | (264) | 199 |
Balance at the end of the period | $ 19,227 | $ 19,558 |
Debt (Narrative) (Details)
Debt (Narrative) (Details) - USD ($) $ in Thousands | Apr. 17, 2018 | Jan. 09, 2017 | Apr. 04, 2016 | Oct. 31, 2013 | Jun. 30, 2018 | Jun. 30, 2017 | Jan. 08, 2017 | Apr. 03, 2016 |
Debt Instrument [Line Items] | ||||||||
Outstanding under the revolving credit facility | $ 281,454 | $ 1,078,611 | ||||||
Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Interest rate on outstanding principal amount | 3.00% | |||||||
Union Bank, N.A. and HSBC Bank USA [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum borrowing capacity | $ 1,300,000 | $ 700,000 | $ 1,000,000 | $ 700,000 | ||||
Uncommitted option to increase credit facility | $ 300,000 | $ 300,000 | ||||||
MUFG Union Bank [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum borrowing capacity | $ 800,000 | |||||||
Uncommitted option to increase credit facility | $ 300,000 | |||||||
Credit facility termination date | Apr. 17, 2023 | |||||||
MUFG Union Bank [Member] | ResMed Limited [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum borrowing capacity | $ 200,000 | |||||||
Principal payment | $ 6,000 | |||||||
Minimum [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Commitment fees percentage rate on unused portion of credit facility | 0.10% | |||||||
Minimum [Member] | MUFG Union Bank [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Credit facility interest rate equal to reference rate plus | 0.75% | |||||||
Minimum [Member] | MUFG Union Bank [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Credit facility interest rate equal to reference rate plus | 0.00% | |||||||
Maximum [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Commitment fees percentage rate on unused portion of credit facility | 0.175% | |||||||
Maximum [Member] | MUFG Union Bank [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Credit facility interest rate equal to reference rate plus | 1.50% | |||||||
Maximum [Member] | MUFG Union Bank [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Credit facility interest rate equal to reference rate plus | 0.50% | |||||||
Brightree LLC [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum borrowing capacity | $ 1,000,000 | $ 700,000 | ||||||
Brightree LLC [Member] | Union Bank, N.A. and HSBC Bank USA [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Maximum borrowing capacity | 1,000,000 | |||||||
Uncommitted option to increase credit facility | $ 300,000 |
Debt (Schedule Of Debt) (Detail
Debt (Schedule Of Debt) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Debt [Abstract] | ||
Short-term debt | $ 12,000 | |
Deferred borrowing costs | (534) | |
Short-term debt, net | 11,466 | |
Long-term debt | 272,000 | $ 1,080,000 |
Deferred borrowing costs | (2,012) | (1,389) |
Long-term debt, net | 269,988 | 1,078,611 |
Total debt | $ 281,454 | $ 1,078,611 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) | 1 Months Ended | 12 Months Ended | |||||
Nov. 30, 2017USD ($)shares | Oct. 31, 2017USD ($) | Jun. 30, 2018USD ($)$ / sharesshares | Jun. 30, 2017USD ($)$ / sharesshares | Jun. 30, 2016USD ($)shares | Feb. 21, 2014shares | Apr. 30, 1997$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Shares authorized to be repurchased under repurchase program | 20,000,000 | ||||||
Cost of common shares repurchased | $ | $ 53,803,000 | $ 102,065,000 | |||||
Total number of shares repurchased pursuant to the repurchase program | 41,636,234 | 41,086,234 | |||||
Total cost of shares repurchased pursuant to the repurchase program | $ | $ 1,600,412,000 | $ 1,546,611,000 | |||||
Additional shares that can be repurchased under the approved share repurchase program | 13,100,000 | ||||||
Preferred stock, shares authorized | 2,000,000 | 2,000,000 | 2,000,000 | ||||
Preferred stock at par value | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | ||||
Preferred stock, shares issued | 0 | 0 | |||||
Preferred stock, shares outstanding | 0 | ||||||
Expiration period | 7 years | ||||||
Reduction in the number of shares of common stock available for issuance | 2.8 | ||||||
Maximum number of shares subject to awards granted | 3,000,000 | ||||||
Number of common stock shares granted in participant's initial year of hiring | 4,500,000 | ||||||
Unrecognized compensation costs related to unvested stock-based compensation arrangements | $ | $ 75,300,000 | ||||||
Expected weighted average period of unrecognized compensation costs related to unvested stock-based compensation arrangements | 2 years 2 months 12 days | ||||||
Aggregate intrinsic value of the stock-based compensation arrangements outstanding | $ | $ 222,300,000 | ||||||
Aggregate intrinsic value of the stock-based compensation arrangements exercisable | $ | $ 194,500,000 | ||||||
Aggregate intrinsic value of the options exercised | $ | 27,500,000 | 28,100,000 | 40,400,000 | ||||
Stock-based compensation expense | $ | $ 48,412,000 | $ 45,925,000 | $ 46,408,000 | ||||
Treasury Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Common shares repurchased under repurchase program | 550,000 | 1,900,000 | |||||
Cost of common shares repurchased | $ | $ 53,801,000 | $ 102,057,000 | |||||
2009 Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Maximum amount payable pursant to cash denominated performance awards granted | $ | $ 5,000,000 | $ 3,000,000 | |||||
Vesting period | 4 years | ||||||
Expiration date | Sep. 11, 2027 | ||||||
Common stock authorized for issuance | 51,100,000 | ||||||
Common stock authorized for issuance and pending registration | 7,400,000 | ||||||
Number of securities remaining available for future issuance | 17,800,000 | ||||||
2009 Plan [Member] | Non Employee Director [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Maximum award amount with other cash fees earned for services | $ | $ 700,000 | ||||||
2009 Plan [Member] | Board Of Directors Chairman [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Maximum award amount with other cash fees earned for services | $ | $ 1,200,000 | ||||||
Employee Stock Purchase Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of securities remaining available for future issuance | 500,000 | ||||||
Shares issued under Employee Stock Purchase Plan | 302,000 | 327,000 | |||||
Percentage of purchase price of common stock lower than the fair market value of common stock on the date of grant | 85.00% | ||||||
Percentage of purchase price of common stock lower than the fair market value of common stock on the date of purchase | 85.00% | ||||||
Stock-based compensation expense | $ | $ 5,200,000 | $ 4,200,000 | |||||
Minimum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Vesting period | 1 year | ||||||
Minimum [Member] | Employee Stock Purchase Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Employee stock purchase program offering period | 3 months | ||||||
Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Vesting period | 4 years | ||||||
Maximum [Member] | Employee Stock Purchase Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Employee stock purchase program offering period | 27 months | ||||||
Common stock shares subscribed | $ | $ 25,000 |
Stockholders' Equity (Schedule
Stockholders' Equity (Schedule Of Option Activity) (Details) - $ / shares | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Stockholders' Equity [Abstract] | ||
Options, Outstanding at beginning of period | 1,495,573 | |
Options, Granted | 248,821 | |
Options, Exercised | (538,568) | |
Options, Forfeited | ||
Options, Outstanding at end of period | 1,205,826 | 1,495,573 |
Options, Exercise price of granted options | $ 85.42 | |
Options exercisable at end of period | 683,620 | |
Weighted Average Exercise Price, Outstanding at beginning of period | $ 47.09 | |
Weighted Average Exercise Price, Granted | 85.42 | |
Weighted Average Exercise Price, Exercised | 34.83 | |
Weighted Average Exercise Price, Forfeited | ||
Weighted Average Exercise Price, Outstanding at end of period | 60.48 | $ 47.09 |
Weighted Average Exercise Price, Options exercisable at end of period | $ 52.26 | |
Weighted Average Remaining Contractual Term in Years, Outstanding | 4 years 4 months 24 days | 3 years 10 months 24 days |
Exercisable shares, netted for tax | 0 |
Stockholders' Equity (Schedul68
Stockholders' Equity (Schedule Of Activity Of Restricted Stock Units) (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted Stock Units, Outstanding at beginning of period | 1,906,394 | |
Restricted Stock Units, Granted | 570,332 | |
Restricted Stock Units, Vested | (393,617) | |
Restricted Stock Units, Expired / cancelled | (366,445) | |
Restricted Stock Units, Forfeited | (71,910) | |
Restricted Stock Units, Outstanding at end of period | 1,644,754 | 1,906,394 |
Weighted Average Grant-Date Fair Value, Outstanding at beginning of period | $ 53.26 | |
Weighted Average Grant-Date Fair Value, Granted | 80.24 | |
Weighted Average Grant-Date Fair Value, Vested | 52.35 | |
Weighted Average Grant-Date Fair Value, Expired / cancelled | ||
Weighted Average Grant-Date Fair Value, Forfeited | 58.17 | |
Weighted Average Grant-Date Fair Value, Outstanding at end of period | $ 62.89 | $ 53.26 |
Weighted Average Remaining Contractual Term in Years, Outstanding | 1 year 7 months 6 days | 1 year 7 months 6 days |
Exercisable shares, netted for tax | 179,847 |
Stockholders' Equity (Schedul69
Stockholders' Equity (Schedule Of Total Stock-Based Compensation Costs Incurred And Associated Tax Benefit Recognized) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation costs | $ 48,412 | $ 45,925 | $ 46,408 |
Tax benefit | (17,078) | (20,100) | (25,020) |
Stock-based compensation costs, net of tax benefit | 31,334 | 25,825 | 21,388 |
Cost of Sales - Capitalized As Part Of Inventory [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation costs | 2,990 | 2,877 | 2,731 |
Selling, General and Administrative Expenses [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation costs | 39,754 | 37,096 | 36,994 |
Research and Development Expense [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Stock-based compensation costs | $ 5,668 | $ 5,952 | $ 6,683 |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) - shares | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |||
Stock options and restricted stock units not included in the computation of diluted earnings per share | 153,000 | 173,000 | 297,000 |
Earnings Per Share (Schedule Of
Earnings Per Share (Schedule Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Numerator: | |||
Net income | $ 315,588 | $ 342,284 | $ 352,409 |
Denominator: | |||
Basic weighted-average common shares outstanding | 142,764 | 141,360 | 140,242 |
Effect of dilutive securities: | |||
Stock options and restricted stock units | 1,223 | 1,093 | 1,427 |
Diluted weighted average shares | 143,987 | 142,453 | 141,669 |
Basic earnings per share | $ 2.21 | $ 2.42 | $ 2.51 |
Diluted earnings per share | $ 2.19 | $ 2.40 | $ 2.49 |
Other, Net (Schedule Of Other N
Other, Net (Schedule Of Other Net Income) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Other, Net [Abstract] | |||
Gain (loss) on foreign currency transactions and hedging, net | $ (1,546) | $ 5,434 | $ 4,169 |
Impairment of cost-method investments | (11,593) | (1,955) | (750) |
Other | 4,597 | 617 | 1,541 |
Other, net | $ (8,542) | $ 4,096 | $ 4,960 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Jun. 30, 2018 | Mar. 31, 2018 | Mar. 31, 2018 | Mar. 31, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | Apr. 30, 2018 | |
Income Taxes [Line Items] | ||||||||
Additional income tax benefits as an increase to earnings | $ 17,078 | $ 20,100 | $ 25,020 | |||||
Income taxes payable | $ 160,427 | 160,427 | 29,150 | |||||
Income tax expense (benefit) | 205,724 | 76,459 | 87,157 | |||||
Additional income tax expense from transition tax imposed on accumulated foreign earnings | $ 68,858 | $ 65,612 | $ 58,023 | |||||
U.S. Federal income tax rate | 28.00% | 35.00% | 35.00% | |||||
Increase to net earnings from tax holidays and tax incentives program | $ 33,500 | $ 19,500 | ||||||
Increase to net earnings per diluted share from tax holidays and tax incentives program | $ 0.23 | $ 0.14 | ||||||
Additional tax expense | $ 126,753 | |||||||
Additional tax expense payable over | 8 years | |||||||
Undistributed earnings | 2,600,000 | $ 2,600,000 | ||||||
Amount of deferred taxes that would have been recognized if the earnings has not been permanently reinvested | $ 4,000 | $ 4,000 | ||||||
Tax Year 2018 [Member] | Scenario, Plan [Member] | ||||||||
Income Taxes [Line Items] | ||||||||
Income tax expense (benefit) | $ 138,000 | |||||||
Additional income tax expense from transition tax imposed on accumulated foreign earnings | $ 126,900 | |||||||
Additional income tax expense from adjustment of deferred tax assets | 11,100 | |||||||
Australian Taxation Office [Member] | ||||||||
Income Taxes [Line Items] | ||||||||
Percentage of penalties on additional income tax | 50.00% | |||||||
Additional tax liabilities related to assessments | $ 75,900 | $ 151,700 | ||||||
Interest related to assessments | $ 38,400 | $ 38,400 | $ 38,400 | |||||
Income taxes payable | $ 75,900 | |||||||
Australian Taxation Office [Member] | Minimum [Member] | ||||||||
Income Taxes [Line Items] | ||||||||
Tax year under audit | 2,009 | |||||||
Australian Taxation Office [Member] | Maximum [Member] | ||||||||
Income Taxes [Line Items] | ||||||||
Tax year under audit | 2,013 | |||||||
Domestic Tax Authority [Member] | ||||||||
Income Taxes [Line Items] | ||||||||
Operating loss carryforwards | 61,000 | $ 61,000 | ||||||
Foreign Tax Authority [Member] | ||||||||
Income Taxes [Line Items] | ||||||||
Operating loss carryforwards | 93,700 | 93,700 | ||||||
Valuation Allowance | Foreign Tax Authority [Member] | ||||||||
Income Taxes [Line Items] | ||||||||
Operating loss carryforwards | 9,200 | 9,200 | ||||||
Capital loss | $ 3,000 | $ 3,000 |
Income Taxes (Schedule Of Incom
Income Taxes (Schedule Of Income Before Income Taxes Under The Jurisdictions) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Income Taxes [Abstract] | |||
U.S. | $ 42,627 | $ (4,985) | $ 1,785 |
Non-U.S. | 478,685 | 423,728 | 437,781 |
Income before income taxes | $ 521,312 | $ 418,743 | $ 439,566 |
Income Taxes (Schedule Of Provi
Income Taxes (Schedule Of Provision For Income Taxes) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Income Taxes [Abstract] | |||
Current: Federal | $ 128,971 | $ 16,468 | $ 24,325 |
Current: State | 948 | (1,159) | 5,805 |
Current: Non-U.S. | 68,858 | 65,612 | 58,023 |
Current, Total | 198,777 | 80,921 | 88,153 |
Deferred: Federal | 9,488 | 11,385 | 5,640 |
Deferred: State | (350) | 2,706 | (1,644) |
Deferred: Non-U.S. | (2,191) | (18,553) | (4,992) |
Deferred, Total | 6,947 | (4,462) | (996) |
Provision for income taxes | $ 205,724 | $ 76,459 | $ 87,157 |
Income Taxes (Schedule Of Pro76
Income Taxes (Schedule Of Provision For Income Tax Differ From The Amount Of Income Tax) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | ||
Income Taxes [Abstract] | ||||
Taxes computed at statutory U.S. rate | [1] | $ 146,280 | $ 146,560 | $ 153,848 |
Transition tax | 126,753 | |||
State income taxes, net of U.S. tax benefit | 2,427 | (1,294) | 2,573 | |
Research and development credit | (4,089) | (2,804) | (5,138) | |
Change in statutory tax rates | 16,685 | |||
Tax effect of dividends | 97,662 | 80,754 | ||
Change in valuation allowance | (2,962) | 4,021 | (5,882) | |
Effect of non-U.S. tax rates | (70,250) | (97,141) | (91,124) | |
Foreign tax credits | [2] | (6,473) | (67,689) | (44,835) |
Stock-based compensation expense | (7,045) | (3,107) | (8,170) | |
Other | 4,398 | 251 | 5,131 | |
Provision for income taxes | $ 205,724 | $ 76,459 | $ 87,157 | |
[1] | In fiscal year 2018, as a result of U.S. tax legislation, the statutory U.S. tax rate was 28%. | |||
[2] | In fiscal year 2018, $75.5 million of the foreign tax credit is included as a reduction in the transition tax. |
Income Taxes (Components Of Def
Income Taxes (Components Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Income Taxes [Abstract] | ||
Employee liabilities | $ 16,184 | $ 19,275 |
Tax credit carry overs | 9,031 | 501 |
Inventories | 5,840 | 10,126 |
Provision for warranties | 3,904 | 4,766 |
Provision for doubtful debts | 3,817 | 2,967 |
Net operating loss carryforwards | 26,355 | 36,117 |
Capital loss carryover | 3,932 | 2,625 |
Property, plant and equipment | 6,121 | 3,850 |
Stock-based compensation expense | 9,322 | 15,143 |
Other | 4,515 | 4,569 |
Deferred tax assets, Gross | 89,021 | 99,939 |
Less valuation allowance | (12,297) | (15,259) |
Deferred tax assets | 76,724 | 84,680 |
Goodwill and other intangibles | (35,990) | (36,999) |
Deferred tax liabilities | (35,990) | (36,999) |
Net deferred tax asset | $ 40,734 | $ 47,681 |
Income Taxes (Schedule Of Defer
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities Classified As Current And Non-Current) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Income Taxes [Abstract] | ||
Non-current deferred tax asset | $ 53,818 | $ 61,503 |
Non-current deferred tax liability | (13,084) | (13,822) |
Net deferred tax asset | $ 40,734 | $ 47,681 |
Segment Information (Narrative)
Segment Information (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Sales | $ 2,340,196 | $ 2,066,737 | $ 1,838,713 |
Devices [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Sales | 1,303,600 | 1,161,000 | 1,064,200 |
Masks And Other Accessories [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Sales | $ 879,600 | $ 767,700 | $ 745,600 |
Segment Information (Schedule O
Segment Information (Schedule Of Revenue By Geographic Area) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue | $ 2,340,196 | $ 2,066,737 | $ 1,838,713 |
United States [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue | 1,345,212 | 1,229,196 | 1,056,453 |
Rest Of The World [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenue | $ 994,984 | $ 837,541 | $ 782,260 |
Segment Information (Schedule81
Segment Information (Schedule Of Long-Lived Assets By Geographic Areas) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Long lived assets | $ 386,550 | $ 394,241 | $ 384,276 |
United States [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Long lived assets | 142,337 | 150,677 | 148,789 |
Australia [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Long lived assets | 173,394 | 183,159 | 185,978 |
Rest Of The World [Member] | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Long lived assets | $ 70,819 | $ 60,405 | $ 49,509 |
Stock-Based Employee Compensa82
Stock-Based Employee Compensation (Narrative) (Details) - Performance Restricted Stock Units (PRSUs) [Member] - $ / shares | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Performance restricted stock units granted | 167,000 | 243,000 |
Relative total shareholder return period | 3 years | 3 years |
Maximum amount of performance restricted stock units to be issued, percentage of the original grant | 200.00% | 200.00% |
Weighted average fair value of performance restricted stock units granted | $ 76.20 | $ 51.60 |
Stock-Based Employee Compensa83
Stock-Based Employee Compensation (Schedule Of Assumptions For Fair Value Of Stock Option Plans And Purchase Rights Granted) (Details) - $ / shares | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted average grant date fair value | $ 16.68 | $ 10.89 | $ 12.18 |
Weighted average risk-free interest rate | 2.08% | 1.61% | 1.66% |
Expected life in years | 4 years 10 months 24 days | 4 years 10 months 24 days | 4 years 10 months 24 days |
Expected volatility | 23.00% | 25.00% | 27.00% |
ESPP Purchase Rights [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted average grant date fair value | $ 17.44 | $ 12.50 | $ 13.61 |
Weighted average risk-free interest rate | 0.80% | 0.50% | 0.20% |
Expected life in years | 6 months | 6 months | 6 months |
Expected volatility | 23.00% | 23.00% | |
Minimum [Member] | Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield | 1.46% | 2.02% | 2.06% |
Minimum [Member] | ESPP Purchase Rights [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield | 1.47% | 1.92% | 1.96% |
Expected volatility | 23.00% | ||
Maximum [Member] | Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield | 1.65% | 2.29% | 2.09% |
Maximum [Member] | ESPP Purchase Rights [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield | 1.92% | 2.27% | 2.14% |
Expected volatility | 32.00% |
Employee Retirement Plans (Narr
Employee Retirement Plans (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Australia Plan [Member] | Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of contribution by the company to the retirement plans | 9.50% | ||
Total contribution by the company to the employee retirement plans | $ 10.5 | $ 9.9 | $ 9.1 |
United States Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of contribution by the company to the retirement plans | 4.00% | ||
Total contribution by the company to the employee retirement plans | $ 5 | 4.3 | 3.3 |
Singapore Plan [Member] | Foreign Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Percentage of contribution by the company to the retirement plans | 17.00% | ||
Total contribution by the company to the employee retirement plans | $ 2.2 | $ 1.7 | $ 1.4 |
Commitments (Schedule Of Future
Commitments (Schedule Of Future Minimum Lease Payments) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Commitments [Abstract] | |||
2,019 | $ 18,343 | ||
2,020 | 12,585 | ||
2,021 | 8,382 | ||
2,022 | 5,929 | ||
2,023 | 4,686 | ||
Thereafter | 7,539 | ||
Total minimum lease payments | 57,464 | ||
Rent expenses | $ 21,100 | $ 20,100 | $ 17,400 |
Legal Actions And Contingenci86
Legal Actions And Contingencies (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2018 | Apr. 30, 2018 | Jun. 30, 2017 | |
Loss Contingencies [Line Items] | |||||
Income taxes payable | $ 160,427 | $ 160,427 | $ 29,150 | ||
Australian Taxation Office [Member] | |||||
Loss Contingencies [Line Items] | |||||
Percentage of penalties on additional income tax | 50.00% | ||||
Additional tax liabilities related to assessments | $ 75,900 | $ 151,700 | |||
Interest related to assessments | $ 38,400 | ||||
Income taxes payable | $ 75,900 | ||||
Minimum [Member] | Australian Taxation Office [Member] | |||||
Loss Contingencies [Line Items] | |||||
Tax year under audit | 2,009 | ||||
Maximum [Member] | Australian Taxation Office [Member] | |||||
Loss Contingencies [Line Items] | |||||
Tax year under audit | 2,013 |
Legal Actions And Contingenci87
Legal Actions And Contingencies (Summary Of Receivables Sold With Recourse) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Contingent Obligations Under Recourse Provisions [Line Items] | ||
Total receivables sold | $ 105,226 | $ 99,327 |
Full Recourse [Member] | ||
Contingent Obligations Under Recourse Provisions [Line Items] | ||
Total receivables sold | 25,829 | 24,592 |
Limited Recourse [Member] | ||
Contingent Obligations Under Recourse Provisions [Line Items] | ||
Total receivables sold | $ 79,397 | $ 74,735 |
Legal Actions And Contingenci88
Legal Actions And Contingencies (Summary Of Maximum Exposure On Outstanding Receivables Sold With Recourse And Provision) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Contingent Obligations Under Recourse Provisions [Line Items] | ||
Maximum exposure on outstanding receivables | $ 29,378 | $ 27,500 |
Contingent provision for receivables with recourse | (2,277) | (1,437) |
Full Recourse [Member] | ||
Contingent Obligations Under Recourse Provisions [Line Items] | ||
Maximum exposure on outstanding receivables | 20,139 | 18,068 |
Limited Recourse [Member] | ||
Contingent Obligations Under Recourse Provisions [Line Items] | ||
Maximum exposure on outstanding receivables | $ 9,239 | $ 9,432 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Fair Value Measurements [Abstract] | |||
Additional business acquisition contingent consideration | $ 411 | $ 10,076 | $ (2,986) |
Fair Value Measurements (Summar
Fair Value Measurements (Summary Of Financial Assets And Liabilities) (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign currency hedging instruments, net | $ 2,760 | |
Foreign currency hedging instruments, net | $ (2,699) | |
Business acquisition contingent consideration | (1,505) | (1,580) |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign currency hedging instruments, net | ||
Foreign currency hedging instruments, net | ||
Business acquisition contingent consideration | ||
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign currency hedging instruments, net | 2,760 | |
Foreign currency hedging instruments, net | (2,699) | |
Business acquisition contingent consideration | ||
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreign currency hedging instruments, net | ||
Foreign currency hedging instruments, net | ||
Business acquisition contingent consideration | $ (1,505) | $ (1,580) |
Fair Value Measurements (Reconc
Fair Value Measurements (Reconciliation For Fair Value Measurements Using Significant Unobservable Inputs) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | ||
Fair Value Measurements [Abstract] | |||
Balance at the beginning of the period | $ (1,580) | $ (10,450) | |
Acquisition date fair value of contingent consideration | (1,580) | ||
Changes in fair value included in operating income | [1] | (411) | (10,076) |
Payments | 486 | 20,142 | |
Foreign currency translation adjustments | 384 | ||
Balance at the end of the period | $ (1,505) | $ (1,580) | |
[1] | During the year ended June 30, 2017 we recognized a charge of $10.1 million representing additional contingent consideration associated with the acquisition of Curative Medical Technology Inc., following the achievement of performance milestones under the purchase agreement which exceeded our earlier expectations. |
Derivative Instruments And He92
Derivative Instruments And Hedging Activities (Narrative) (Details) | 12 Months Ended |
Jun. 30, 2018 | |
Derivative Instruments And Hedging Activities [Abstract] | |
Terms of foreign currency hedging contracts, maximum | 3 years |
Derivative Instruments And He93
Derivative Instruments And Hedging Activities (Summary Of Amount And Location Of Derivative Financial Instruments) (Details) - Foreign Currency Hedging Instruments [Member] - USD ($) $ in Thousands | Jun. 30, 2018 | Jun. 30, 2017 |
Derivatives, Fair Value [Line Items] | ||
Net foreign currency hedging instruments | $ (2,699) | $ 2,760 |
Other Assets - Current [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Foreign currency hedging instruments, assets | 281 | 2,614 |
Other Assets - Non Current [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Foreign currency hedging instruments, assets | 1,273 | |
Accrued Expenses [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Foreign currency hedging instruments, liabilities | (2,373) | $ (1,127) |
Other Long-Term Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Foreign currency hedging instruments, liabilities | $ (607) |
Derivative Instruments And He94
Derivative Instruments And Hedging Activities (Summary Of Gains (Losses) Associated With Derivative Financial Instruments) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) recognized in income | $ (1,546) | $ 5,434 | $ 4,169 |
Derivatives Not Designated As Hedging Instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) recognized in income | (1,546) | 5,434 | |
Foreign Currency Hedging Instruments [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Other, Net [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Foreign currency hedging instruments | (21,294) | 1,812 | |
Other Foreign-Currency-Denominated Transactions [Member] | Derivatives Not Designated As Hedging Instruments [Member] | Other, Net [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Other foreign-currency-denominated transactions | $ 19,748 | $ 3,622 |
Business Combinations (Narrativ
Business Combinations (Narrative) (Details) - USD ($) $ in Thousands | Apr. 04, 2016 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | Apr. 03, 2016 |
Business Combinations [Line Items] | |||||
Amortization of intangible assets | $ 46,400 | ||||
Interest expense | 28,355 | $ 28,236 | $ 11,206 | ||
Acquisition related expenses | 10,076 | ||||
Income tax expense (benefit) | $ 205,724 | $ 76,459 | $ 87,157 | ||
U.S. Federal income tax rate | 28.00% | 35.00% | 35.00% | ||
Brightree LLC [Member] | |||||
Business Combinations [Line Items] | |||||
Date of acquisition agreement | Apr. 4, 2016 | ||||
Total purchase price of acquisition | $ 802,000 | ||||
Brightree LLC [Member] | Revolving Credit Facility [Member] | |||||
Business Combinations [Line Items] | |||||
Maximum borrowing capacity | 1,000,000 | $ 700,000 | |||
Brightree LLC [Member] | Term Credit Agreement [Member] | |||||
Business Combinations [Line Items] | |||||
Maximum borrowing capacity | $ 300,000 | ||||
Credit facility term, years | 1 year | ||||
Conduit [Member] | |||||
Business Combinations [Line Items] | |||||
Date of acquisition agreement | May 31, 2017 | ||||
AllCall [Member] | |||||
Business Combinations [Line Items] | |||||
Date of acquisition agreement | Jun. 30, 2017 | ||||
Conduit And AllCall [Member] | |||||
Business Combinations [Line Items] | |||||
Acquisition related expenses | $ 0 |
Business Combinations (Fair Val
Business Combinations (Fair Values Of Assets Acquired, Liabilities Assumed, And Estimated Useful Lives) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Conduit And AllCall [Member] | ||
Business Combinations [Line Items] | ||
Property, plant and equipment | $ 69 | |
Goodwill | 2,000 | |
Assets acquired | 6,649 | |
Current liabilities | (60) | |
Total liabilities assumed | (60) | |
Net assets acquired | 6,589 | |
Brightree LLC [Member] | ||
Business Combinations [Line Items] | ||
Current assets | $ 15,310 | |
Property, plant and equipment | 1,045 | |
Goodwill | 602,996 | |
Assets acquired | 817,851 | |
Current liabilities | (9,399) | |
Deferred revenue | (4,571) | |
Total liabilities assumed | (13,970) | |
Net assets acquired | 803,881 | |
Trade Names [Member] | Conduit And AllCall [Member] | ||
Business Combinations [Line Items] | ||
Intangible assets | $ 100 | |
Intangible assets, useful life | 3 years | |
Trade Names [Member] | Brightree LLC [Member] | ||
Business Combinations [Line Items] | ||
Intangible assets | $ 28,700 | |
Intangible assets, useful life | 10 years | |
In-Process Research And Development [Member] | Brightree LLC [Member] | ||
Business Combinations [Line Items] | ||
Intangible assets | $ 4,100 | |
Non-Compete [Member] | Conduit And AllCall [Member] | ||
Business Combinations [Line Items] | ||
Intangible assets | $ 520 | |
Non-Compete [Member] | Minimum [Member] | Conduit And AllCall [Member] | ||
Business Combinations [Line Items] | ||
Intangible assets, useful life | 1 year | |
Non-Compete [Member] | Maximum [Member] | Conduit And AllCall [Member] | ||
Business Combinations [Line Items] | ||
Intangible assets, useful life | 3 years | |
Developed Technology [Member] | Conduit And AllCall [Member] | ||
Business Combinations [Line Items] | ||
Intangible assets | $ 1,800 | |
Intangible assets, useful life | 5 years | |
Developed Technology [Member] | Brightree LLC [Member] | ||
Business Combinations [Line Items] | ||
Intangible assets | $ 114,700 | |
Developed Technology [Member] | Minimum [Member] | Brightree LLC [Member] | ||
Business Combinations [Line Items] | ||
Intangible assets, useful life | 5 years | |
Developed Technology [Member] | Maximum [Member] | Brightree LLC [Member] | ||
Business Combinations [Line Items] | ||
Intangible assets, useful life | 6 years | |
Customer Relationships [Member] | Conduit And AllCall [Member] | ||
Business Combinations [Line Items] | ||
Intangible assets | $ 2,160 | |
Intangible assets, useful life | 5 years | |
Customer Relationships [Member] | Brightree LLC [Member] | ||
Business Combinations [Line Items] | ||
Intangible assets | $ 51,000 | |
Customer Relationships [Member] | Minimum [Member] | Brightree LLC [Member] | ||
Business Combinations [Line Items] | ||
Intangible assets, useful life | 10 years | |
Customer Relationships [Member] | Maximum [Member] | Brightree LLC [Member] | ||
Business Combinations [Line Items] | ||
Intangible assets, useful life | 15 years |
Restructuring Expenses (Narrati
Restructuring Expenses (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring expenses | $ 18,432 | $ 12,358 | $ 6,914 |
Global Strategic Workforce Planning Review [Member] | Paris [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Employee related costs | $ 1,500 | ||
Reorganization Of Global Research And Development Activities [Member] | German And Paris [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Employee related costs | $ 6,500 |
Litigation Settlement Expenses
Litigation Settlement Expenses (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Litigation Settlement Expenses [Member] | ||
Litigation settlement expenses | $ 8,500 | |
Settlement agreement, term | Mutual release and dismissal of all litigation current at the time of settlement, worldwide, including all validity challenges. It was agreed that neither party will initiate legal suit against the other for a period of five years without a 90 day meet and confer process. | |
BMC [Member] | ||
Litigation Settlement Expenses [Member] | ||
Settlement agreement, term | We agreed that for five years from the date of the agreement, we would not initiate legal suit against BMC for patent infringement for selling their range of devices and masks that were the subject of the current dispute. BMC agreed to pay us royalties on the sale of those products in the United States. |
Schedule II Valuation And Qua99
Schedule II Valuation And Qualifying Accounts And Reserves (Details) - Applied Against Asset Account Allowance For Doubtful Accounts [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at Beginning of Period | $ 11,150 | $ 12,555 | $ 12,276 |
Charged to costs and expenses | 15,189 | 4,269 | 3,383 |
Other (deductions) | (7,081) | (5,674) | (3,104) |
Balance at end of period | $ 19,258 | $ 11,150 | $ 12,555 |