ResMed (RMD) 10-Q 31 Jan 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Dec. 31, 2019	Jan. 27, 2020
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	001-15317
Entity Registrant Name	ResMed Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-0152841
Entity Address, Address Line One	9001 Spectrum Center Blvd.
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92123
Entity Address, Country	US
City Area Code	858
Local Phone Number	836-5000
Title of 12(b) Security	Common Stock, par value $0.004 per share
Trading Symbol	RMD
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		144,616,947
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--06-30
Entity Central Index Key	0000943819

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Current assets:
Cash and cash equivalents	$ 204,095	$ 147,128
Accounts receivable, net of allowance for doubtful accounts of $26,854 and $25,171 at December 31, 2019 and June 30, 2019, respectively	528,039	528,484
Inventories (note 3)	377,784	349,641
Prepaid expenses and other current assets	190,567	120,113
Total current assets	1,300,485	1,145,366
Non-current assets:
Property, plant and equipment, net (note 3)	408,364	387,460
Operating lease right-of-use assets (note 9)	96,745
Goodwill (note 4)	1,870,647	1,856,449
Other intangible assets, net (note 3)	480,861	521,950
Deferred income taxes	32,889	45,478
Prepaid taxes and other non-current assets	163,948	150,979
Total non-current assets	3,053,454	2,962,316
Total assets	4,353,939	4,107,682
Current liabilities:
Accounts payable	114,322	115,725
Accrued expenses	217,847	266,359
Operating lease liabilities, current (note 9)	20,038
Deferred revenue	92,950	88,667
Income taxes payable (note 6)	42,904	73,248
Short-term debt, net (note 8)	11,984	11,992
Total current liabilities	500,045	555,991
Non-current liabilities:
Deferred revenue	86,140	81,143
Deferred income taxes	27,709	11,380
Operating lease liabilities, non-current (note 9)	79,458
Other long-term liabilities	2,062	2,058
Long-term debt, net (note 8)	1,287,509	1,258,861
Long-term income taxes payable (note 6)	112,910	126,056
Total non-current liabilities	1,595,788	1,479,498
Total liabilities	2,095,833	2,035,489
Commitments and contingencies (note 12)
Stockholders’ equity: (note 10)
Preferred stock, $0.01 par value, 2,000,000 shares authorized; none issued
Common stock, $0.004 par value, 350,000,000 shares authorized; 186,434,945 issued and 144,598,711 outstanding at December 31, 2019 and 185,491,064 issued and 143,654,830 outstanding at June 30, 2019	578	575
Additional paid-in capital	1,521,992	1,511,473
Retained earnings	2,604,910	2,436,410
Treasury stock, at cost, 41,836,234 shares at December 31, 2019 and June 30, 2019	(1,623,256)	(1,623,256)
Accumulated other comprehensive loss	(246,118)	(253,009)
Total stockholders' equity	2,258,106	2,072,193
Total liabilities and stockholders' equity	$ 4,353,939	$ 4,107,682

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Condensed Consolidated Balance Sheets [Abstract]
Accounts receivable, net allowance for doubtful accounts	$ 26,854	$ 25,171
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	186,434,945	185,491,064
Common stock, shares outstanding	144,598,711	143,654,830
Treasury stock, shares held	41,836,234	41,836,234

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Condensed Consolidated Statements Of Income [Abstract]
Net revenue	$ 736,157	$ 651,100	$ 1,417,213	$ 1,239,380
Cost of sales	296,975	267,369	572,976	512,556
Amortization of acquired intangible assets	12,052	9,199	25,488	16,154
Total cost of sales	309,027	276,568	598,464	528,710
Gross profit	427,130	374,532	818,749	710,670
Operating expenses:
Selling, general and administrative	171,422	161,579	338,862	308,881
Research and development	49,943	43,111	97,976	81,902
Amortization of acquired intangible assets	8,556	6,641	13,599	12,553
Litigation settlement expenses	(600)		(600)
Acquisition related expenses		6,123		6,123
Total operating expenses	229,321	217,454	449,837	409,459
Income from operations	197,809	157,078	368,912	301,211
Other income (loss), net:
Interest income	202	678	650	1,600
Interest expense	(10,220)	(7,487)	(21,212)	(11,195)
Loss attributable to equity method investments (note 5)	(6,924)	(3,375)	(13,786)	(3,375)
Other, net	(2,115)	(621)	(5,225)	(3,086)
Total other income (loss), net	(19,057)	(10,805)	(39,573)	(16,056)
Income before income taxes	178,752	146,273	329,339	285,155
Income taxes	18,198	21,634	48,637	54,778
Net income	$ 160,554	$ 124,639	$ 280,702	$ 230,377
Basic earnings per share (note 11)	$ 1.11	$ 0.87	$ 1.95	$ 1.61
Diluted earnings per share (note 11)	1.10	0.86	1.93	1.60
Dividend declared per share	$ 0.39	$ 0.37	$ 0.78	$ 0.74
Basic shares outstanding (000's)	144,212	142,923	143,966	142,796
Diluted shares outstanding (000's)	145,575	144,349	145,479	144,418

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Condensed Consolidated Statements Of Comprehensive Income [Abstract]
Net income	$ 160,554	$ 124,639	$ 280,702	$ 230,377
Other comprehensive income (loss):
Foreign currency translation (loss) gain adjustments	44,467	(13,117)	6,891	(25,989)
Comprehensive income	$ 205,021	$ 111,522	$ 287,593	$ 204,388

Condensed Consolidated Statem_3

Condensed 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, 2018	$ 571	$ 1,450,821	$ (1,600,412)	$ 2,432,328	$ (224,328)	$ 2,058,980
Beginning balance, shares at Jun. 30, 2018	184,316,000		(41,636,000)
Common stock issued on exercise of options		513				513
Common stock issued on exercise of options, shares	12,000
Common stock issued on vesting of restricted stock units, net of shares withheld for tax		(141)				(141)
Common stock issued on vesting of restricted stock units, net of shares withheld for tax, shares	2,000
Treasury stock purchases	$ (1)		$ (22,844)			(22,845)
Treasury stock purchases, shares			(200,000)
Stock-based compensation costs		12,476				12,476
Other comprehensive income					(12,872)	(12,872)
Net income				105,738		105,738
Dividends declared				(52,794)		(52,794)
Ending balance at Sep. 30, 2018	$ 570	1,463,669	$ (1,623,256)	2,296,473	(237,200)	1,900,256
Ending balance, shares at Sep. 30, 2018	184,330,000		(41,836,000)
Beginning balance at Jun. 30, 2018	$ 571	1,450,821	$ (1,600,412)	2,432,328	(224,328)	$ 2,058,980
Beginning balance, shares at Jun. 30, 2018	184,316,000		(41,636,000)
Common stock issued on employee stock purchase plan, shares						129,000
Treasury stock purchases						$ (22,800)
Treasury stock purchases, shares						(200,000)
Net income						$ 230,377
Ending balance at Dec. 31, 2018	$ 573	1,460,705	$ (1,623,256)	2,368,339	(250,317)	1,956,044
Ending balance, shares at Dec. 31, 2018	185,118,000		(41,836,000)
Cumulative effect of change in accounting standards				(188,799)		(188,799)
Beginning balance at Sep. 30, 2018	$ 570	1,463,669	$ (1,623,256)	2,296,473	(237,200)	1,900,256
Beginning balance, shares at Sep. 30, 2018	184,330,000		(41,836,000)
Common stock issued on exercise of options		1,263				1,263
Common stock issued on exercise of options, shares	36,000
Common stock issued on vesting of restricted stock units, net of shares withheld for tax	$ 2	(27,343)				(27,341)
Common stock issued on vesting of restricted stock units, net of shares withheld for tax, shares	623,000
Common stock issued on employee stock purchase plan	$ 1	10,575				10,576
Common stock issued on employee stock purchase plan, shares	129,000
Stock-based compensation costs		12,541				12,541
Other comprehensive income					(13,117)	(13,117)
Net income				124,639		124,639
Dividends declared				(52,773)		(52,773)
Ending balance at Dec. 31, 2018	$ 573	1,460,705	$ (1,623,256)	2,368,339	(250,317)	1,956,044
Ending balance, shares at Dec. 31, 2018	185,118,000		(41,836,000)
Beginning balance at Jun. 30, 2019	$ 575	1,511,473	$ (1,623,256)	2,436,410	(253,009)	2,072,193
Beginning balance, shares at Jun. 30, 2019	185,491,000		41,836,000
Common stock issued on exercise of options		5,609				5,609
Common stock issued on exercise of options, shares	110,000
Common stock issued on vesting of restricted stock units, net of shares withheld for tax		(327)				(327)
Common stock issued on vesting of restricted stock units, net of shares withheld for tax, shares	4,000
Stock-based compensation costs		13,256				13,256
Other comprehensive income					(37,576)	(37,576)
Net income				120,148		120,148
Dividends declared				(56,052)		(56,052)
Ending balance at Sep. 30, 2019	$ 575	1,530,011	$ (1,623,256)	2,500,506	(290,585)	2,117,251
Ending balance, shares at Sep. 30, 2019	185,605,000		41,836,000
Beginning balance at Jun. 30, 2019	$ 575	1,511,473	$ (1,623,256)	2,436,410	(253,009)	$ 2,072,193
Beginning balance, shares at Jun. 30, 2019	185,491,000		41,836,000
Common stock issued on exercise of options, shares						226,773
Common stock issued on employee stock purchase plan, shares						137,000
Treasury stock purchases						$ (1,600,000)
Treasury stock purchases, shares						(41,800,000)
Net income						$ 280,702
Ending balance at Dec. 31, 2019	$ 578	1,521,992	$ (1,623,256)	2,604,910	(246,118)	2,258,106
Ending balance, shares at Dec. 31, 2019	186,435,000		(41,836,000)
Beginning balance at Sep. 30, 2019	$ 575	1,530,011	$ (1,623,256)	2,500,506	(290,585)	2,117,251
Beginning balance, shares at Sep. 30, 2019	185,605,000		41,836,000
Common stock issued on exercise of options		6,498				6,498
Common stock issued on exercise of options, shares	117,000
Common stock issued on vesting of restricted stock units, net of shares withheld for tax	$ 3	(40,764)				(40,761)
Common stock issued on vesting of restricted stock units, net of shares withheld for tax, shares	576,000
Common stock issued on employee stock purchase plan		12,190				12,190
Common stock issued on employee stock purchase plan, shares	137,000
Stock-based compensation costs		14,057				14,057
Other comprehensive income					44,467	44,467
Net income				160,554		160,554
Dividends declared				(56,150)		(56,150)
Ending balance at Dec. 31, 2019	$ 578	$ 1,521,992	$ (1,623,256)	$ 2,604,910	$ (246,118)	$ 2,258,106
Ending balance, shares at Dec. 31, 2019	186,435,000		(41,836,000)

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 280,702	$ 230,377
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	77,077	66,453
Amortization of right-of-use-assets	12,323
Stock-based compensation costs	27,309	25,011
Loss attributable to equity method investments (note 5)	13,786	3,375
Impairment of equity investments (note 5)	5,419	2,959
Changes in fair value of business combination contingent consideration	(7)	(272)
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable	(275)	32,366
Inventories	(28,294)	(30,570)
Prepaid expenses, net deferred income taxes and other current assets	(66,818)	(26,922)
Accounts payable, accrued expenses and other	(88,927)	(125,190)
Net cash provided by operating activities	232,295	177,587
Cash flows from investing activities:
Purchases of property, plant and equipment	(47,771)	(31,425)
Patent registration costs	(4,871)	(4,643)
Business acquisitions, net of cash acquired (note 13)	(3,423)	(739,249)
Purchases of investments (note 5)	(21,841)	(27,967)
Payments on maturity of foreign currency contracts	1,064	(3,127)
Net cash used in investing activities	(76,842)	(806,411)
Cash flows from financing activities:
Proceeds from issuance of common stock, net	24,297	12,784
Taxes paid related to net share settlement of equity awards	(41,091)	(27,340)
Purchases of treasury stock		(22,844)
Payments of business combination contingent consideration	(302)	(430)
Proceeds from borrowings, net of borrowing costs	730,000	1,091,230
Repayment of borrowings	(700,012)	(352,798)
Dividend paid	(112,202)	(105,567)
Net cash provided by (used in) financing activities	(99,310)	595,035
Effect of exchange rate changes on cash	824	(5,444)
Net increaase (decrease) in cash and cash equivalents	56,967	(39,233)
Cash and cash equivalents at beginning of period	147,128	188,701
Cash and cash equivalents at end of period	204,095	149,468
Supplemental disclosure of cash flow information:
Income taxes paid, net of refunds	141,948	192,497
Interest paid	21,212	11,195
Fair value of assets acquired, excluding cash	3,000	343,470
Liabilities assumed		(298,554)
Goodwill on acquisition		695,353
Deferred payments	423	(852)
Fair value of contingent consideration		(168)
Cash paid for acquisitions	$ 3,423	$ 739,249

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2019
Summary Of Significant Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	(1) Summary of Significant Accounting Policies 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, Singapore, Malaysia, France, China and the United States. Major distribution and sales sites are located in the United States, Germany, France, the United Kingdom, Switzerland, Australia, Japan, China, Finland, Norway and Sweden. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and the rules of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all necessary adjustments, which consisted only of normal recurring items, have been included in the accompanying financial statements to present fairly the results of the interim periods. The results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the year ending June 30 , 2020. The condensed consolidated financial statements for the three and six months ended December 31, 2019 and December 31, 2018 are unaudited and should be read in conjunction with the consolidated financial statements and notes thereto included in our Form 10-K for the year ended June 30, 2019. Revenue Recognition We adopted Accounting Standard Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers” on July 1, 2018. We account for a contract with a customer when there is a legally enforceable contract, the rights of the parties are identified, the contract has commercial substance, and collectability of the contract consideration is probable. We have determined that we have two operating segments, which are the sleep and respiratory disorders sector of the medical device industry (“Sleep and Respiratory Care”) and the supply of business management software-as-a-service to out-of-hospital health providers (“SaaS”). Our Sleep and Respiratory Care revenue relates primarily to the sale of our products that are therapy-based equipment. Some contracts include additional performance obligations such as the provision of extended warranties and data for patient monitoring. Our SaaS revenue relates to the provision of software access with ongoing support and maintenance services as well as professional services such as training and consulting. Disaggregation of revenue See note 2 – Segment Information for our net revenue disaggregated by segment, product and region for the three and six months ended December 31, 2019 and 2018. Performance obligations and contract balances Revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied; generally, this occurs with the transfer of risk and/or control of our products are provided at a point in time. For products in our Sleep and Respiratory Care business, we transfer control and recognize a sale when products are shipped to the customer in accordance with the contractual shipping terms. For our SaaS business, revenue associated with professional services are recognized as they are provided. We defer the recognition of a portion of the consideration received when performance obligations are not yet satisfied. Consideration received from customers in advance of revenue recognition is classified as deferred revenue. Performance obligations resulting in deferred revenue in our Sleep and Respiratory Care business relate primarily to extended warranties on our devices and the provision of data for patient monitoring. Performance obligations resulting in deferred revenue in our SaaS business relate primarily to the provision of software access with maintenance and support over an agreed term and material rights associated with future discounts upon renewal of some SaaS contracts. Generally, deferred revenue will be recognized over a period of one year to five years . The following table summarizes our contract balances (in thousands): December 31, 2019 June 30, 2019 Balance sheet caption Contract assets Accounts receivable, net $ 528,039 $ 528,484 Accounts receivable, net Unbilled revenue, current 7,792 9,834 Prepaid expenses and other current assets Unbilled revenue, non-current 5,186 4,592 Prepaid taxes and other non-current assets Contract liabilities Deferred revenue, current ( 92,950 ) ( 88,667 ) Deferred revenue (current liabilities) Deferred revenue, non-current ( 86,140 ) ( 81,143 ) Deferred revenue (non-current liabilities) Transaction price determination Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. In our Sleep and Respiratory Care segment, the amount of consideration received and revenue recognized varies with changes in marketing incentives (e.g., rebates, discounts, free goods) and returns offered to customers and their customers. When we give customers the right to return eligible products and receive credit, returns are estimated based on an analysis of historical experience. However, returns of products, excluding warranty-related returns, are infrequent and insignificant. We adjust the estimate of revenue at the earlier of when the most likely amount of consideration can be estimated, the amount expected to be received changes, or when the consideration becomes fixed. We offer our Sleep and Respiratory Care customers cash or product rebates based on volume or sales targets measured over quarterly or annual periods. We estimate rebates based on each customer’s expected achievement of its targets. In accounting for these rebate programs, we reduce revenue ratably as sales occur over the rebate period by the expected value of the rebates to be returned to the customer. Rebates measured over a quarterly period are updated based on actual sales results and, therefore, no estimation is required to determine the reduction to revenue. For rebates measured over annual periods, we update our estimates on a quarterly basis based on actual sales results and updated forecasts for the remaining rebate periods. We also offer discounts to both our Sleep and Respiratory Care as well as our SaaS customers as part of normal business practice and these are deducted from revenue when the sale occurs. Many of our Sleep and Respiratory Care contracts have a single performance obligation which is the shipment of our therapy-based equipment. However, when the Sleep and Respiratory Care or SaaS contract has multiple performance obligations, we generally use an observable price to determine the stand-alone selling price by reference to pricing and discounting practices for the specific product or service when sold separately to similar customers. Revenue is then allocated proportionately, based on the determined stand-alone selling price, to the performance obligation. Provision for Warranty We provide for the estimated cost of product warranties on our Sleep and Respiratory Care products 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. New Accounting Pronouncements (a) Recently issued accounting standards not yet adopted ASU No. 2017-04 “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” In January 2017, the FASB issued Accounting Standards Update No. 2017-04 (ASU 2017-04) “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” ASU 2017-04 eliminates step two of the goodwill impairment test and specifies that goodwill impairment should be measured by comparing the fair value of a reporting unit with its carrying amount. Additionally, the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets should be disclosed. This guidance is effective for us beginning in the fourth quarter of fiscal year June 30, 2020 and early adoption is permitted. We currently perform a Step 0, or qualitative impairment, assessment for our Reporting Units, which we expect to continue and, therefore, anticipate that the adoption of ASU 2017-04 will not have a material impact on our consolidated financial statements. (b) Recently adopted accounting pronouncements ASU No. 2016-02, “Leases” In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases” (Topic 842). Under the new guidance , lessees are required to recognize a right-of-use asset (“ROU”) 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 are classified as either operating or finance under the new guidance. Operating leases result in straight-line expense in the income statement, similar to prior operating lease treatment, and finance leases result in more expense being recognized in the earlier years of the lease term, similar to prior capital lease treatment. For lessors, the update more closely aligns lease accounting to comparable guidance in the new revenue standards described. Effective, July 1, 2019, we adopted the new standard 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. In addition, we elected the package of practical expedients permitted under the transition guidance to not reassess (1) whether any expired or existing contracts are, or contain, leases, (2) the lease classification for expired or existing leases, and (3) initial direct costs for existing leases. In preparation for and upon adoption of this guidance, we have designed and operated internal controls over its implementation, which includes a system solution for lease administration, accounting and disclosures of financial information surrounding our leasing arrangements. The adoption of the guidance on July 1, 2019 resulted in the recognition of ROU assets of $ 77.6 million and lease liabilities of $ 81.3 million, which all related to operating leases. The ROU assets were lower than the lease liabilities due to the derecognition of deferred rent balances of $ 3.7 million. We did not recognize any adjustment to the comparative period presented in the financial statements in accordance with our adoption method. The guidance did not have a material impact on our condensed consolidated statements of income. In our Form 10-K for the year ended June 30, 2019, we estimated that the adoption of the guidance would result in the recognition of additional ROU assets and lease liabilities for operating leases of approximately $ 60.0 million to $ 70.0 million as of July 1, 2019. This range excluded the impact of our evaluation of lease terms, several contracts that may contain an embedded lease and the final assessment of the lease discount rates. During the quarter ended September 30, 2019, we finalized all remaining implementation work and the increase from our estimate of $ 60.0 million to $ 70.0 million to the opening balance of $ 77.6 million was primarily driven by our determination that we were reasonably certain to exercise extension options at some of our major sites, partially offset by our final discount rates generally being lower than the preliminary rate of 3.5 % that was used when calculating our estimated balance upon adoption. See note 9 - Leases for further disclosures related to our leases under the new guidance. (c) Adjustment to prior periods Within our condensed consolidated statements of income for the three and six months ended December 31, 2019 and 2018, cost of sales has been adjusted to include amortization of acquired intangible assets directly applicable to revenue. As a result, gross profit now includes amortization of acquired intangible assets relating to cost of sales and operating expenses have been reduced by this amount. There was no impact on income from operations, income before taxes or net income, as a result of this reclassification. The adjustments to the previously reported amounts are not material. The table below presents a reconciliation of amortization of acquired intangible assets by income statement caption summing to total amortization of acquired intangible assets as previously reported (in thousands): Three Months Ended Six Months Ended December 31, 2018 Amortization of intangible assets related to cost of sales $ 9,199 $ 16,154 Amortization of intangible assets related to operating expenses 6,641 12,553 Total $ 15,840 $ 28,707 The table below presents a reconciliation of gross profit as previously reported adjusted for the amortization of acquired intangible assets now included in cost of sales (in thousands): Three Months Ended Six Months Ended December 31, 2018 Gross profit as previously reported $ 383,731 $ 726,824 Amortization of intangible assets related to cost of sales ( 9,199 ) ( 16,154 ) Gross profit $ 374,532 $ 710,670

Segment Information

Segment Information	6 Months Ended
	Dec. 31, 2019
Segment Information [Abstract]
Segment Information	( 2) Segment Information We have quantitatively and qualitatively determined that we operate in two operating segments, which are the Sleep and Respiratory Care segment and the SaaS segment. We evaluate the performance of our segments based on net sales and income from operations. The accounting policies of the segments are the same as those described in note 1 of our consolidated financial statements included in our Form 10-K for the year ended June 30, 2019. Segment net sales and segment income from operations do not include inter-segment profits and revenue is allocated to a geographic area based on where the products are shipped to or where the services are performed. Certain items are maintained at the corporate level and are not allocated to the segments. The non-allocated items include corporate headquarters costs, stock-based compensation, amortization expense from acquired intangibles, acquisition related expenses, interest income, interest expense and other, net. We neither discretely allocate assets to our operating segments, nor does our Chief Operating Decision Maker evaluate the operating segments using discrete asset information. The table below presents a reconciliation of net revenues and net operating profit by reportable segments (in thousands): Three Months Ended December 31, Six Months Ended December 31, 2019 2018 2019 2018 Revenue by segment Total Sleep and Respiratory Care $ 649,451 $ 587,894 $ 1,243,617 $ 1,128,708 Software as a Service 87,363 65,235 175,698 112,701 Deferred revenue fair value adjustment ( 657 ) ( 2,029 ) ( 2,102 ) ( 2,029 ) Total Software as a Service 86,706 63,206 173,596 110,672 Total $ 736,157 $ 651,100 $ 1,417,213 $ 1,239,380 Net operating profit by segment Sleep and Respiratory Care $ 230,097 $ 196,542 $ 428,260 $ 372,244 Software as a Service 21,339 17,061 45,135 32,384 Total $ 251,436 $ 213,603 $ 473,395 $ 404,628 Reconciling items Corporate costs $ 32,962 $ 32,533 $ 63,894 $ 66,558 Amortization of acquired intangible assets 20,608 15,840 39,087 28,707 Litigation settlement expenses ( 600 ) - ( 600 ) - Acquisition related expenses - 6,123 - 6,123 Deferred revenue fair value adjustment 657 2,029 2,102 2,029 Interest income ( 202 ) ( 678 ) ( 650 ) ( 1,600 ) Interest expense 10,220 7,487 21,212 11,195 Loss attributable to equity method investments 6,924 3,375 13,786 3,375 Other, net 2,115 621 5,225 3,086 Income before income taxes $ 178,752 $ 146,273 $ 329,339 $ 285,155

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	6 Months Ended
	Dec. 31, 2019
Supplemental Balance Sheet Information [Abstract]
Supplemental Balance Sheet Information	(3) Supplemental Balance Sheet Information Components of selected captions in the consolidated condensed balance sheets consisted of the following (in thousands): Inventories December 31, 2019 June 30, 2019 Raw materials $ 98,047 $ 80,861 Work in progress 2,063 2,256 Finished goods 277,674 266,524 Total inventories $ 377,784 $ 349,641 Property, Plant and Equipment December 31, 2019 June 30, 2019 Property, plant and equipment, at cost $ 947,877 $ 898,975 Accumulated depreciation and amortization ( 539,513 ) ( 511,515 ) Property, plant and equipment, net $ 408,364 $ 387,460 Other Intangible Assets December 31, 2019 June 30, 2019 Developed/core product technology $ 379,470 $ 401,842 Accumulated amortization ( 173,797 ) ( 157,651 ) Developed/core product technology, net 205,673 244,191 Customer relationships 277,222 273,114 Accumulated amortization ( 69,320 ) ( 68,630 ) Customer relationships, net 207,902 204,484 Other intangibles 177,770 176,351 Accumulated amortization ( 110,484 ) ( 103,076 ) Other intangibles, net 67,286 73,275 Total other intangibles, net $ 480,861 $ 521,950 Intangible assets consist of developed/core product technology, trade names, non-compete agreements, customer relationships, and patents, which we amortize over the estimated useful life of the assets, generally between two years to fifteen years . There are no expected residual values related to these intangible assets.

Goodwill

Goodwill	6 Months Ended
	Dec. 31, 2019
Goodwill [Abstract]
Goodwill	(4) Goodwill A reconciliation of changes in our goodwill by reportable segment is as follows (in thousands): Six Months Ended December 31, 2019 Sleep and Respiratory Care SaaS Total Balance at the beginning of the period $ 616,965 $ 1,239,484 $ 1,856,449 Adjustment to fair values of preliminary purchase price allocations 526 16,282 16,808 Foreign currency translation adjustments ( 2,610 ) - ( 2,610 ) Balance at the end of the period $ 614,881 $ 1,255,766 $ 1,870,647

Investments

Investments	6 Months Ended
	Dec. 31, 2019
Investments [Abstract]
Investments	(5) Investments We have a number of equity investments in privately held companies that are unconsolidated entities and are recorded in the non-current balance of other assets on the consolidated condensed balance sheets. The following table shows a reconciliation of the changes in all of our investments (in thousands): Six Months Ended December 31, 2019 2018 Equity method investments Balance at the beginning of the period $ 21,667 $ - Investments 17,500 25,000 Loss attributable to equity method investments ( 13,786 ) ( 3,375 ) Carrying value of equity method investments 25,381 21,625 Non-marketable securities Balance at the beginning of the period $ 30,436 $ 41,226 Investments 4,341 2,967 Impairment of investments ( 5,419 ) ( 2,959 ) Carrying value of non-marketable securities 29,358 41,234 Total investments in unconsolidated entities $ 54,739 $ 62,859 Equity investments whereby we have significant influence but not control over the investee, and are not the primary beneficiary of the investee’s activities, are accounted for under the equity method. Under this method, we record our share of gains or losses attributable to equity method investments. Non-marketable equity securities consist of investments in privately held companies without readily determinable fair values, and are reported at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. We estimate the fair value of our equity investments using Level 3 inputs to assess whether impairment losses shall be recorded.

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2019
Income Taxes [Abstract]
Income Taxes	(6) Income Taxes In accordance with ASC 740 Income Taxes , each interim reporting period is considered integral to the annual period, and tax expense is measured using an estimated annual effective tax rate. An entity is required to record income tax expense each quarter based on its annual effective tax rate estimated for the full fiscal year and use that rate to provide for income taxes on a current year-to-date basis, adjusted for discrete taxable events that occur during the interim period. 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. Any final assessment resulting from tax audits may result in material changes to our past or future taxable income, tax payable or deferred tax assets, and may require us to pay penalties and interest that could materially adversely affect our financial results . 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 on these assessments, the ATO asserted 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. At December 31, 2019, we 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. The ATO is currently auditing tax years 2014 to 2018 . 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.

Product Warranties

Product Warranties	6 Months Ended
	Dec. 31, 2019
Product Warranties [Abstract]
Product Warranties	(7) Product Warranties Changes in the liability for warranty costs, which is included in accrued expenses in our condensed consolidated balance sheets are as follows (in thousands): Six Months Ended December 31, 2019 2018 Balance at the beginning of the period $ 19,625 $ 19,227 Warranty accruals for the period 6,776 7,832 Warranty costs incurred for the period ( 6,191 ) ( 7,253 ) Foreign currency translation adjustments 76 ( 431 ) Balance at the end of the period $ 20,286 $ 19,375

Debt

Debt	6 Months Ended
	Dec. 31, 2019
Debt [Abstract]
Debt	(8) Debt Debt consisted of the following (in thousands): December 31, 2019 June 30, 2019 Short-term debt $ 12,000 $ 12,012 Deferred borrowing costs ( 16 ) ( 20 ) Short-term debt, net 11,984 11,992 - Long-term debt $ 1,292,000 $ 1,262,000 Deferred borrowing costs ( 4,491 ) ( 3,139 ) Long-term debt, net $ 1,287,509 $ 1,258,861 Total debt $ 1,299,493 $ 1,270,853 Credit Facility On April 17, 2018, we entered into an amended and restated credit agreement (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, provided 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 (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. On November 5, 2018, we entered into a first amendment to the Revolving Credit Agreement to, among other things, increase the size of our senior unsecured revolving credit facility from $ 800.0 million to $ 1.6 billion, with an uncommitted option to increase the revolving credit facility by an additional $ 300.0 million. Our obligations under the Revolving Credit Agreement are guaranteed by certain of our direct and indirect U.S. subsidiaries, and ResMed Limited’s obligations under the Term Credit Agreement are guaranteed by us and certain of our direct and indirect U.S. subsidiaries. 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 us, or the respective guarantors of the obligations borrowed under the Revolving Credit Agreement and Term Credit Agreement. 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. Amounts borrowed under the Term Credit Agreement 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). At December 31, 2019, the interest rate that was being charged on the outstanding principal amounts was 2.8 %. 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. We are required to disclose the fair value of financial instruments for which it is practicable to estimate the value, even though these instruments are not recognized at fair value in the consolidated balance sheets. As the Revolving Credit and Term Credit Agreements’ interest rate is calculated as LIBOR plus the spreads described above, its carrying amount is equivalent to its fair value as at December 31, 2019 and June 30, 2019. Senior Notes On July 10, 2019, we entered into a Note Purchase Agreement with the purchasers to that agreement, in connection with the issuance and sale of $ 250.0 million principal amount of our 3.24 % senior notes due July 10, 2026 , and $ 250.0 million principal amount of our 3.45 % senior notes due July 10, 2029 (collectively referred to as the “Senior Notes”). Our obligations under the Note Purchase Agreement and the Senior Notes are unconditionally and irrevocably guaranteed by certain of our direct and indirect U.S. subsidiaries, including ResMed Corp., ResMed Motor Technologies Inc., Birdie Inc., Inova Labs, Inc., Brightree LLC, Brightree Home Health & Hospice LLC, Brightree Patient Collections LLC, ResMed Operations Inc., HEALTHCAREfirst Holding Company, HCF Holdco Company, HEALTHCAREfirst, Inc., CareFacts Information Systems, LLC and Lewis Computer Services, LLC, MatrixCare Holdings Inc., MatrixCare, Inc., Reciprocal Labs Corporation and ResMed SaaS Inc., under a Subsidiary Guaranty Agreement dated as of July 10, 2019. The net proceeds from this transaction were used to pay down borrowings on our Revolving Credit Agreement. Under the terms of the Note Purchase Agreement, we agreed to customary covenants including with respect to our corporate existence, transactions with affiliates, and mergers and other extraordinary transactions. We also agreed that, subject to limited exceptions, we will maintain a ratio of consolidated funded debt to consolidated EBITDA of no more than 3.50 to 1.00 as of the last day of any fiscal quarter, and will not at any time permit the amount of all priority secured and unsecured debt of us and our subsidiaries to exceed 10% of our consolidated tangible assets, determined as of the end of our most recently ended fiscal quarter. We are required to disclose the fair value of financial instruments for which it is practicable to estimate the value, even though these instruments are not recognized at fair value in the consolidated balance sheets. As of December 31, 2019, the Senior Notes have a carrying amount of $ 500.0 million, excluding deferred borrowing costs, and an estimated fair value of $ 513.2 million. As of December 31, 2019, the Revolving Credit Agreement and Term Credit Agreement had a total carrying amount of $ 804.0 million, excluding deferred borrowing costs, and an estimated fair value of $ 804.0 million. Quoted market prices in active markets for identical liabilities based inputs (Level 1) were used to estimate fair value. At December 31, 2019, we were in compliance with our debt covenants and there was $ 1,304.0 million outstanding under the Revolving Credit Agreement, Term Credit Agreement and Senior Notes.

Leases

Leases	6 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	(9) Leases We determine whether a contract is, or contains, a lease at inception. ROU assets represent our right to use an underlying asset during the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at lease commencement based upon the estimated present value of unpaid lease payments over the lease term. We use our incremental borrowing rate based on the information available at lease commencement in determining the present value of unpaid lease payments. ROU assets also include any lease payments made at or before lease commencement and any initial direct costs incurred, and exclude any lease incentives received. We determine the lease term as the non-cancellable period of the lease, and may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Leases with a term of 12 months or less are not recognized on the balance sheet. Some of our leases include variable lease payments that are based on costs incurred or actual usage, or adjusted periodically based on an index or a rate. Our leases do not contain any residual value guarantees and we do not account for lease and non-lease components as a single lease component. Operating leases are included in operating lease right-of-use assets and operating lease liabilities on our consolidated condensed balance sheets. We lease certain office space, warehouses and distribution centers, manufacturing facilities, vehicles, and equipment with remaining lease terms ranging from less than 1 year to 13 years, some of which include options to extend or terminate the leases. Operating lease costs for the three and six months ended December 31, 2019 were $ 6.4 million and $ 12.4 million, respectively. Short-term and variable lease costs were not material for the three and six months ended December 31, 2019. Supplemental balance sheet information related to operating leases was as follows (in thousands, except lease term and discount rate): December 31, 2019 Operating lease ROU assets $ 96,745 Operating lease liabilities, current portion 20,038 Operating lease liabilities, non-current portion 79,458 Total operating lease liabilities $ 99,496 Weighted-average remaining lease term (years) 7.4 Weighted-average discount rate 2.86 % Future minimum lease payments under non-cancellable leases as of December 31, 2019 and for the periods ending June 30 of the years indicated below were as follows (in thousands): In $000’s Total 2020 2021 2022 2023 2024 2025 Thereafter Minimum lease payments $ 114,513 $ 11,747 $ 20,482 $ 16,022 $ 13,025 $ 9,952 $ 8,202 $ 35,083 Less: imputed interest ( 15,017 ) Total lease liabilities $ 99,496 As of December 31, 2019, we had additional operating lease commitments of $ 35.4 million for manufacturing facilities and office space that have not yet commenced. These leases will commence during the year ended June 30, 2020 and 2021 with lease terms of 2 years to 11 years. Disclosures related to periods prior to adopting the new lease guidance We lease certain facilities and equipment under operating leases expiring at various dates. Most of the operating leases contain renewal options. Total expense for all operating leases was $ 23.4 million, $ 21.1 million, and $ 20.1 million for the years ended June 30, 2019, 2018, and 2017, respectively. Future minimum lease payments (including interest) under non-cancellable operating leases at June 30, 2019 were as follows (in thousands): Fiscal Years Ending June 30 In $000’s Total 2020 2021 2022 2023 2024 Thereafter Operating leases $ 98,013 $ 23,500 $ 17,161 $ 12,403 $ 9,478 $ 7,916 $ 27,555

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Dec. 31, 2019
Stockholders' Equity [Abstract]
Stockholders' Equity	(10) Stockholders’ Equity Common Stock. Since the inception of our share repurchase programs and through December 31, 2019, we have repurchased a total of 41.8 million shares for an aggregate of $ 1.6 billion. We have temporarily suspended our share repurchase program due to recent acquisitions. Accordingly, we did not repurchase any shares during the three months ended December 31, 2019. During the six months ended December 31, 2018, we repurchased 200,000 shares at an aggregate purchase price of $ 22.8 million under our share repurchase program. 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. There is no expiration date for this program, and the program may be accelerated, suspended, reinstated, delayed or discontinued at any time at the discretion of our board of directors. At December 31, 2019, 12.9 million additional shares can be repurchased under the approved share repurchase program. Preferred Stock. In April 1997, the board of directors designated 2.0 million shares of our $ 0.01 par value preferred stock as Series A Junior Participating Preferred Stock. No shares were issued or outstanding at December 31, 2019 and June 30, 2019 . 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 amended and restated ResMed Inc. 2009 Incentive Award Plan (as amended and restated, the “2009 Plan”). The options have expiration dates of seven years from the date of grant and the options and restricted stock units vest over one year to four years . At December 31, 2019, the maximum number of shares of our common stock authorized for issuance under the 2009 Plan was 51.1 million shares. The number of securities remaining available for future issuance under the 2009 Plan at December 31, 2019 was 15.0 million. The following table summarizes option activity during the six months ended December 31, 2019: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term in Years Outstanding at beginning of period 1,260,114 $ 72.91 4.4 Granted 162,180 146.34 Exercised ( 226,773 ) 53.39 Forfeited ( 4,342 ) 110.19 Outstanding at end of period 1,191,179 $ 86.49 4.8 Exercise price of granted options $ 146.34 Options exercisable at end of period 753,219 $ 69.96 The following table summarizes the activity of restricted stock units during the six months ended December 31, 2019: Restricted Stock Units Weighted Average Grant-Date Fair Value Weighted Average Remaining Contractual Term in Years Outstanding at beginning of period 1,446,170 $ 77.21 1.6 Granted 359,704 140.87 Vested* ( 861,256 ) 60.48 Performance factor adjustment 272,195 - Expired / cancelled ( 16,146 ) 80.37 Forfeited ( 5,023 ) 80.37 Outstanding at end of period 1,195,644 $ 102.36 2.0 * Includes 281,448 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. During the six months ended December 31, 2019 and December 31, 2018, we issued 137,000 and 129,000 shares to our employees associated with the ESPP, respectively. At December 31, 2019, the number of shares remaining available for future issuance under the ESPP is 2.1 million shares.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	(11) Earnings Per Share Basic earnings per share is computed 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 73,509 and 161,036 for the three months ended December 31, 2019 and December 31, 2018 , respectively, and 88,624 and 85,521 for the six months ended December 31, 2019 and December 31, 2018, respectively, as the effect would have been anti-dilutive. Basic and diluted earnings per share are calculated as follows (in thousands except per share data): Three Months Ended December 31, Six Months Ended December 31, 2019 2018 2019 2018 Numerator: Net income $ 160,554 $ 124,639 $ 280,702 $ 230,377 Denominator: Basic weighted-average common shares outstanding 144,212 142,923 143,966 142,796 Effect of dilutive securities: Stock options and restricted stock units 1,363 1,426 1,513 1,622 Diluted weighted average shares 145,575 144,349 145,479 144,418 Basic earnings per share $ 1.11 $ 0.87 $ 1.95 $ 1.61 Diluted earnings per share $ 1.10 $ 0.86 $ 1.93 $ 1.60

Legal Actions And Contingencies

Legal Actions And Contingencies	6 Months Ended
	Dec. 31, 2019
Legal Actions And Contingencies [Abstract]
Legal Actions And Contingencies	(12) 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 6 – Income Taxes, we received Notices of Amended Assessments from the ATO for the tax years 2009 to 2013 . Based on these assessments, the ATO asserted 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. At September 30, 2018, we 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. 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 amount paid in April 2018 and we would be required to pay the remaining additional income tax, accrued interest and penalties, which would be recorded as income tax expense. The ATO is currently auditing tax years 2014 to 2018 . In connection with the recent change in U.S. Tax laws 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 reorganization. We have applied for relief from the U.S. Internal Revenue Service (“IRS”) and have amended the related tax returns required to correct the administrative oversight, which would indefinitely defer the recognition of this gain. We believe it is more likely than not that we will be granted this relief and therefore, have not recorded a reserve in relation to this matter for the six months ended December 31, 2019. 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 (in thousands): Six Months Ended December 31, 2019 2018 Total receivables sold: Full recourse $ - $ 18,993 Limited recourse 59,338 41,329 Total $ 59,338 $ 60,322 The following table summarizes the maximum exposure on outstanding receivables sold with recourse and provision for doubtful accounts ( in thousands) : December 31, 2019 June 30, 2019 Maximum exposure on outstanding receivables: Full recourse $ 5,059 $ 19,209 Limited recourse 22,387 10,241 Total $ 27,446 $ 29,450 Contingent provision for receivables with recourse $ ( 3,841 ) $ ( 1,752 )

Business Combinations

Business Combinations	6 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
Business Combinations	( 13) Business Combinations MatrixCare On November 13, 2018, we completed the acquisition of 100 % of the shares in MatrixCare, Inc. and its subsidiaries (“MatrixCare”), a provider of software solutions for skilled nursing, life plan communities, senior living and private duty, for base purchase consideration paid of $ 750.0 million. This acquisition has been accounted for as a business combination using purchase accounting and included in our consolidated financial statements from November 13, 2018. The acquisition was paid for using borrowings under our revolving credit facility. We completed the purchase price allocation in relation to this acquisition during the quarter ended December 31, 2019. 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 the acquisition is reflected in the Software as a Service segment and is not deductible for tax purposes. It 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): Preliminary as of June 30, 2019 Adjustments Final Intangible assets - useful life Current assets $ 50,325 $ - $ 50,325 Property, plant and equipment 4,401 - 4,401 Trade names 18,000 - 18,000 7 years Developed technology 133,000 - 133,000 7 years Customer relationships 114,000 2,000 116,000 15 years Goodwill 517,995 5,664 523,659 Assets acquired $ 837,721 $ 7,664 $ 845,385 Current liabilities ( 13,751 ) ( 255 ) ( 14,006 ) Deferred revenue ( 18,339 ) ( 166 ) ( 18,505 ) Deferred tax liabilities ( 41,570 ) ( 7,243 ) ( 48,813 ) Debt assumed ( 151,665 ) - ( 151,665 ) Total liabilities assumed $ ( 225,325 ) $ ( 7,664 ) $ ( 232,989 ) Net assets acquired $ 612,396 $ - $ 612,396 A reconciliation of the base consideration to the net consideration is as follows (in thousands): Base consideration $ 750,000 Cash acquired 15,873 Debt assumed ( 151,665 ) Net working capital and other adjustments ( 1,812 ) Net consideration $ 612,396 Other acquisitions During the year ended June 30, 2019, we also completed the following acquisitions:  On July 6, 2018, we completed the acquisition of 100 % of the shares in HEALTHCAREfirst Holding Company (“HEALTHCAREfirst”), a provider of software solutions and services for home health and hospice agencies, for a total purchase consideration of $ 126.3 million.  On October 15, 2018, we completed the acquisition of 100 % of the shares in HB Healthcare, a homecare provider in South Korea.  On December 11, 2018, we completed the acquisition of assets in Interactive Health Network, a provider of integrated clinical and financial management software solution for long-term care companies.  On December 13, 2018, we completed the acquisition of assets in Apacheta, a provider of cloud-based SaaS software that manages the medical equipment delivery process for home medical equipment dealers.  On January 6, 2019, we completed the acquisition of Propeller Health, a digital therapeutics company providing connected health solutions for people living with chronic obstructive pulmonary disease and asthma, for a total purchase consideration of $ 242.9 million, which adjusts for cash acquired and debt assumed at the time of acquisition. We previously held a non-controlling interest in Propeller Health’s outstanding shares. As a result of the acquisition, we recognized a fair value gain of $ 1.9 million in other income during the year ended June 30, 2019 associated with the previous equity investment. These acquisitions have been accounted for as business combinations using purchase accounting and are included in our consolidated financial statements from the acquisition dates. These acquisitions, individually and collectively, are not considered a material business combination and accordingly pro forma information is not provided. The acquisitions were funded by drawing on our existing credit facility and through cash on-hand. We have completed the purchase price allocation in relation to all of these acquisitions. The cost of the share 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 predominantly not 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. Goodwill from these acquisitions has been reflected in the Software as a Service segment except for the goodwill resulting from the HB Healthcare and Propeller Health acquisitions, which have been recorded in the Sleep and Respiratory Care segment. The fair values of assets acquired and liabilities assumed of all other acquisitions described above, excluding MatrixCare, and the estimated useful lives of intangible assets acquired are as follows (in thousands): Final Intangible assets - useful life Current assets $ 31,648 Property, plant and equipment 2,290 Deferred tax assets 5,211 Trade names 7,828 10 years Non-compete 1,000 3 years Developed technology 48,280 5 to 6 years Customer relationships 53,712 5 to 15 years Goodwill 287,469 Assets acquired $ 437,438 Current liabilities ( 7,648 ) Deferred revenue ( 3,619 ) Deferred tax liabilities ( 2,367 ) Debt assumed ( 35,104 ) Total liabilities assumed $ ( 48,738 ) Net assets acquired $ 388,700 During the six months ended December 31, 2019 we did no t record any material acquisition-related expenses and during the six months ended December 31, 2018, we recorded acquisition-related expenses of $ 6.1 million.

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies (Policy)	6 Months Ended
	Dec. 31, 2019
Summary Of Significant Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition We adopted Accounting Standard Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers” on July 1, 2018. We account for a contract with a customer when there is a legally enforceable contract, the rights of the parties are identified, the contract has commercial substance, and collectability of the contract consideration is probable. We have determined that we have two operating segments, which are the sleep and respiratory disorders sector of the medical device industry (“Sleep and Respiratory Care”) and the supply of business management software-as-a-service to out-of-hospital health providers (“SaaS”). Our Sleep and Respiratory Care revenue relates primarily to the sale of our products that are therapy-based equipment. Some contracts include additional performance obligations such as the provision of extended warranties and data for patient monitoring. Our SaaS revenue relates to the provision of software access with ongoing support and maintenance services as well as professional services such as training and consulting. Disaggregation of revenue See note 2 – Segment Information for our net revenue disaggregated by segment, product and region for the three and six months ended December 31, 2019 and 2018. Performance obligations and contract balances Revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied; generally, this occurs with the transfer of risk and/or control of our products are provided at a point in time. For products in our Sleep and Respiratory Care business, we transfer control and recognize a sale when products are shipped to the customer in accordance with the contractual shipping terms. For our SaaS business, revenue associated with professional services are recognized as they are provided. We defer the recognition of a portion of the consideration received when performance obligations are not yet satisfied. Consideration received from customers in advance of revenue recognition is classified as deferred revenue. Performance obligations resulting in deferred revenue in our Sleep and Respiratory Care business relate primarily to extended warranties on our devices and the provision of data for patient monitoring. Performance obligations resulting in deferred revenue in our SaaS business relate primarily to the provision of software access with maintenance and support over an agreed term and material rights associated with future discounts upon renewal of some SaaS contracts. Generally, deferred revenue will be recognized over a period of one year to five years . The following table summarizes our contract balances (in thousands): December 31, 2019 June 30, 2019 Balance sheet caption Contract assets Accounts receivable, net $ 528,039 $ 528,484 Accounts receivable, net Unbilled revenue, current 7,792 9,834 Prepaid expenses and other current assets Unbilled revenue, non-current 5,186 4,592 Prepaid taxes and other non-current assets Contract liabilities Deferred revenue, current ( 92,950 ) ( 88,667 ) Deferred revenue (current liabilities) Deferred revenue, non-current ( 86,140 ) ( 81,143 ) Deferred revenue (non-current liabilities) Transaction price determination Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. In our Sleep and Respiratory Care segment, the amount of consideration received and revenue recognized varies with changes in marketing incentives (e.g., rebates, discounts, free goods) and returns offered to customers and their customers. When we give customers the right to return eligible products and receive credit, returns are estimated based on an analysis of historical experience. However, returns of products, excluding warranty-related returns, are infrequent and insignificant. We adjust the estimate of revenue at the earlier of when the most likely amount of consideration can be estimated, the amount expected to be received changes, or when the consideration becomes fixed. We offer our Sleep and Respiratory Care customers cash or product rebates based on volume or sales targets measured over quarterly or annual periods. We estimate rebates based on each customer’s expected achievement of its targets. In accounting for these rebate programs, we reduce revenue ratably as sales occur over the rebate period by the expected value of the rebates to be returned to the customer. Rebates measured over a quarterly period are updated based on actual sales results and, therefore, no estimation is required to determine the reduction to revenue. For rebates measured over annual periods, we update our estimates on a quarterly basis based on actual sales results and updated forecasts for the remaining rebate periods. We also offer discounts to both our Sleep and Respiratory Care as well as our SaaS customers as part of normal business practice and these are deducted from revenue when the sale occurs. Many of our Sleep and Respiratory Care contracts have a single performance obligation which is the shipment of our therapy-based equipment. However, when the Sleep and Respiratory Care or SaaS contract has multiple performance obligations, we generally use an observable price to determine the stand-alone selling price by reference to pricing and discounting practices for the specific product or service when sold separately to similar customers. Revenue is then allocated proportionately, based on the determined stand-alone selling price, to the performance obligation.
Provision For Warranty	Provision for Warranty We provide for the estimated cost of product warranties on our Sleep and Respiratory Care products 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.
New Accounting Pronouncements	New Accounting Pronouncements (a) Recently issued accounting standards not yet adopted ASU No. 2017-04 “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” In January 2017, the FASB issued Accounting Standards Update No. 2017-04 (ASU 2017-04) “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” ASU 2017-04 eliminates step two of the goodwill impairment test and specifies that goodwill impairment should be measured by comparing the fair value of a reporting unit with its carrying amount. Additionally, the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets should be disclosed. This guidance is effective for us beginning in the fourth quarter of fiscal year June 30, 2020 and early adoption is permitted. We currently perform a Step 0, or qualitative impairment, assessment for our Reporting Units, which we expect to continue and, therefore, anticipate that the adoption of ASU 2017-04 will not have a material impact on our consolidated financial statements. (b) Recently adopted accounting pronouncements ASU No. 2016-02, “Leases” In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases” (Topic 842). Under the new guidance , lessees are required to recognize a right-of-use asset (“ROU”) 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 are classified as either operating or finance under the new guidance. Operating leases result in straight-line expense in the income statement, similar to prior operating lease treatment, and finance leases result in more expense being recognized in the earlier years of the lease term, similar to prior capital lease treatment. For lessors, the update more closely aligns lease accounting to comparable guidance in the new revenue standards described. Effective, July 1, 2019, we adopted the new standard 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. In addition, we elected the package of practical expedients permitted under the transition guidance to not reassess (1) whether any expired or existing contracts are, or contain, leases, (2) the lease classification for expired or existing leases, and (3) initial direct costs for existing leases. In preparation for and upon adoption of this guidance, we have designed and operated internal controls over its implementation, which includes a system solution for lease administration, accounting and disclosures of financial information surrounding our leasing arrangements. The adoption of the guidance on July 1, 2019 resulted in the recognition of ROU assets of $ 77.6 million and lease liabilities of $ 81.3 million, which all related to operating leases. The ROU assets were lower than the lease liabilities due to the derecognition of deferred rent balances of $ 3.7 million. We did not recognize any adjustment to the comparative period presented in the financial statements in accordance with our adoption method. The guidance did not have a material impact on our condensed consolidated statements of income. In our Form 10-K for the year ended June 30, 2019, we estimated that the adoption of the guidance would result in the recognition of additional ROU assets and lease liabilities for operating leases of approximately $ 60.0 million to $ 70.0 million as of July 1, 2019. This range excluded the impact of our evaluation of lease terms, several contracts that may contain an embedded lease and the final assessment of the lease discount rates. During the quarter ended September 30, 2019, we finalized all remaining implementation work and the increase from our estimate of $ 60.0 million to $ 70.0 million to the opening balance of $ 77.6 million was primarily driven by our determination that we were reasonably certain to exercise extension options at some of our major sites, partially offset by our final discount rates generally being lower than the preliminary rate of 3.5 % that was used when calculating our estimated balance upon adoption. See note 9 - Leases for further disclosures related to our leases under the new guidance. (c) Adjustment to prior periods Within our condensed consolidated statements of income for the three and six months ended December 31, 2019 and 2018, cost of sales has been adjusted to include amortization of acquired intangible assets directly applicable to revenue. As a result, gross profit now includes amortization of acquired intangible assets relating to cost of sales and operating expenses have been reduced by this amount. There was no impact on income from operations, income before taxes or net income, as a result of this reclassification. The adjustments to the previously reported amounts are not material. The table below presents a reconciliation of amortization of acquired intangible assets by income statement caption summing to total amortization of acquired intangible assets as previously reported (in thousands): Three Months Ended Six Months Ended December 31, 2018 Amortization of intangible assets related to cost of sales $ 9,199 $ 16,154 Amortization of intangible assets related to operating expenses 6,641 12,553 Total $ 15,840 $ 28,707 The table below presents a reconciliation of gross profit as previously reported adjusted for the amortization of acquired intangible assets now included in cost of sales (in thousands): Three Months Ended Six Months Ended December 31, 2018 Gross profit as previously reported $ 383,731 $ 726,824 Amortization of intangible assets related to cost of sales ( 9,199 ) ( 16,154 ) Gross profit $ 374,532 $ 710,670

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Tables)	6 Months Ended
	Dec. 31, 2019
Summary Of Significant Accounting Policies [Abstract]
Summary Of Contract Balances	December 31, 2019 June 30, 2019 Balance sheet caption Contract assets Accounts receivable, net $ 528,039 $ 528,484 Accounts receivable, net Unbilled revenue, current 7,792 9,834 Prepaid expenses and other current assets Unbilled revenue, non-current 5,186 4,592 Prepaid taxes and other non-current assets Contract liabilities Deferred revenue, current ( 92,950 ) ( 88,667 ) Deferred revenue (current liabilities) Deferred revenue, non-current ( 86,140 ) ( 81,143 ) Deferred revenue (non-current liabilities)
Summary Of Reconciliation Of Amortization Of Acquired Intangible Assets	Three Months Ended Six Months Ended December 31, 2018 Amortization of intangible assets related to cost of sales $ 9,199 $ 16,154 Amortization of intangible assets related to operating expenses 6,641 12,553 Total $ 15,840 $ 28,707
Summary Of Reconciliation Of Gross Profit	Three Months Ended Six Months Ended December 31, 2018 Gross profit as previously reported $ 383,731 $ 726,824 Amortization of intangible assets related to cost of sales ( 9,199 ) ( 16,154 ) Gross profit $ 374,532 $ 710,670

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Dec. 31, 2019
Segment Information [Abstract]
Summary Of Revenue By Segment And Reconciling Items	Three Months Ended December 31, Six Months Ended December 31, 2019 2018 2019 2018 Revenue by segment Total Sleep and Respiratory Care $ 649,451 $ 587,894 $ 1,243,617 $ 1,128,708 Software as a Service 87,363 65,235 175,698 112,701 Deferred revenue fair value adjustment ( 657 ) ( 2,029 ) ( 2,102 ) ( 2,029 ) Total Software as a Service 86,706 63,206 173,596 110,672 Total $ 736,157 $ 651,100 $ 1,417,213 $ 1,239,380 Net operating profit by segment Sleep and Respiratory Care $ 230,097 $ 196,542 $ 428,260 $ 372,244 Software as a Service 21,339 17,061 45,135 32,384 Total $ 251,436 $ 213,603 $ 473,395 $ 404,628 Reconciling items Corporate costs $ 32,962 $ 32,533 $ 63,894 $ 66,558 Amortization of acquired intangible assets 20,608 15,840 39,087 28,707 Litigation settlement expenses ( 600 ) - ( 600 ) - Acquisition related expenses - 6,123 - 6,123 Deferred revenue fair value adjustment 657 2,029 2,102 2,029 Interest income ( 202 ) ( 678 ) ( 650 ) ( 1,600 ) Interest expense 10,220 7,487 21,212 11,195 Loss attributable to equity method investments 6,924 3,375 13,786 3,375 Other, net 2,115 621 5,225 3,086 Income before income taxes $ 178,752 $ 146,273 $ 329,339 $ 285,155

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	6 Months Ended
	Dec. 31, 2019
Supplemental Balance Sheet Information [Abstract]
Schedule Of Inventories	Inventories December 31, 2019 June 30, 2019 Raw materials $ 98,047 $ 80,861 Work in progress 2,063 2,256 Finished goods 277,674 266,524 Total inventories $ 377,784 $ 349,641
Components Of Property, Plant And Equipment	Property, Plant and Equipment December 31, 2019 June 30, 2019 Property, plant and equipment, at cost $ 947,877 $ 898,975 Accumulated depreciation and amortization ( 539,513 ) ( 511,515 ) Property, plant and equipment, net $ 408,364 $ 387,460
Schedule Of Other Intangible Assets	Other Intangible Assets December 31, 2019 June 30, 2019 Developed/core product technology $ 379,470 $ 401,842 Accumulated amortization ( 173,797 ) ( 157,651 ) Developed/core product technology, net 205,673 244,191 Customer relationships 277,222 273,114 Accumulated amortization ( 69,320 ) ( 68,630 ) Customer relationships, net 207,902 204,484 Other intangibles 177,770 176,351 Accumulated amortization ( 110,484 ) ( 103,076 ) Other intangibles, net 67,286 73,275 Total other intangibles, net $ 480,861 $ 521,950

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Dec. 31, 2019
Goodwill [Abstract]
Schedule Of Changes In Carrying Amount Of Goodwill	Six Months Ended December 31, 2019 Sleep and Respiratory Care SaaS Total Balance at the beginning of the period $ 616,965 $ 1,239,484 $ 1,856,449 Adjustment to fair values of preliminary purchase price allocations 526 16,282 16,808 Foreign currency translation adjustments ( 2,610 ) - ( 2,610 ) Balance at the end of the period $ 614,881 $ 1,255,766 $ 1,870,647

Investments (Tables)

Investments (Tables)	6 Months Ended
	Dec. 31, 2019
Investments [Abstract]
Schedule Of Investments	Six Months Ended December 31, 2019 2018 Equity method investments Balance at the beginning of the period $ 21,667 $ - Investments 17,500 25,000 Loss attributable to equity method investments ( 13,786 ) ( 3,375 ) Carrying value of equity method investments 25,381 21,625 Non-marketable securities Balance at the beginning of the period $ 30,436 $ 41,226 Investments 4,341 2,967 Impairment of investments ( 5,419 ) ( 2,959 ) Carrying value of non-marketable securities 29,358 41,234 Total investments in unconsolidated entities $ 54,739 $ 62,859

Product Warranties (Tables)

Product Warranties (Tables)	6 Months Ended
	Dec. 31, 2019
Product Warranties [Abstract]
Schedule Of Changes In Liability For Warranty Costs	Six Months Ended December 31, 2019 2018 Balance at the beginning of the period $ 19,625 $ 19,227 Warranty accruals for the period 6,776 7,832 Warranty costs incurred for the period ( 6,191 ) ( 7,253 ) Foreign currency translation adjustments 76 ( 431 ) Balance at the end of the period $ 20,286 $ 19,375

Debt (Tables)

Debt (Tables)	6 Months Ended
	Dec. 31, 2019
Debt [Abstract]
Schedule Of Debt	December 31, 2019 June 30, 2019 Short-term debt $ 12,000 $ 12,012 Deferred borrowing costs ( 16 ) ( 20 ) Short-term debt, net 11,984 11,992 - Long-term debt $ 1,292,000 $ 1,262,000 Deferred borrowing costs ( 4,491 ) ( 3,139 ) Long-term debt, net $ 1,287,509 $ 1,258,861 Total debt $ 1,299,493 $ 1,270,853

Leases (Tables)

Leases (Tables)	6 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Schedule Of Operating Lease Disclosure	December 31, 2019 Operating lease ROU assets $ 96,745 Operating lease liabilities, current portion 20,038 Operating lease liabilities, non-current portion 79,458 Total operating lease liabilities $ 99,496 Weighted-average remaining lease term (years) 7.4 Weighted-average discount rate 2.86 %
Schedule Of Minimum Lease Payments For Finance, Operating, And Sublease Income Leases	In $000’s Total 2020 2021 2022 2023 2024 2025 Thereafter Minimum lease payments $ 114,513 $ 11,747 $ 20,482 $ 16,022 $ 13,025 $ 9,952 $ 8,202 $ 35,083 Less: imputed interest ( 15,017 ) Total lease liabilities $ 99,496
Schedule Of Future Minimum Lease Payments	Fiscal Years Ending June 30 In $000’s Total 2020 2021 2022 2023 2024 Thereafter Operating leases $ 98,013 $ 23,500 $ 17,161 $ 12,403 $ 9,478 $ 7,916 $ 27,555

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Dec. 31, 2019
Stockholders' Equity [Abstract]
Schedule Of Option Activity	Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term in Years Outstanding at beginning of period 1,260,114 $ 72.91 4.4 Granted 162,180 146.34 Exercised ( 226,773 ) 53.39 Forfeited ( 4,342 ) 110.19 Outstanding at end of period 1,191,179 $ 86.49 4.8 Exercise price of granted options $ 146.34 Options exercisable at end of period 753,219 $ 69.96
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 1,446,170 $ 77.21 1.6 Granted 359,704 140.87 Vested* ( 861,256 ) 60.48 Performance factor adjustment 272,195 - Expired / cancelled ( 16,146 ) 80.37 Forfeited ( 5,023 ) 80.37 Outstanding at end of period 1,195,644 $ 102.36 2.0

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Schedule Of Basic And Diluted Earnings Per Share	Three Months Ended December 31, Six Months Ended December 31, 2019 2018 2019 2018 Numerator: Net income $ 160,554 $ 124,639 $ 280,702 $ 230,377 Denominator: Basic weighted-average common shares outstanding 144,212 142,923 143,966 142,796 Effect of dilutive securities: Stock options and restricted stock units 1,363 1,426 1,513 1,622 Diluted weighted average shares 145,575 144,349 145,479 144,418 Basic earnings per share $ 1.11 $ 0.87 $ 1.95 $ 1.61 Diluted earnings per share $ 1.10 $ 0.86 $ 1.93 $ 1.60

Legal Actions And Contingenci_2

Legal Actions And Contingencies (Tables)	6 Months Ended
	Dec. 31, 2019
Legal Actions And Contingencies [Abstract]
Summary Of Receivables Sold With Recourse	Six Months Ended December 31, 2019 2018 Total receivables sold: Full recourse $ - $ 18,993 Limited recourse 59,338 41,329 Total $ 59,338 $ 60,322
Summary Of Maximum Exposure On Outstanding Receivables Sold With Recourse And Provision	December 31, 2019 June 30, 2019 Maximum exposure on outstanding receivables: Full recourse $ 5,059 $ 19,209 Limited recourse 22,387 10,241 Total $ 27,446 $ 29,450 Contingent provision for receivables with recourse $ ( 3,841 ) $ ( 1,752 )

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Dec. 31, 2019
MatrixCare [Member]
Fair Values Of Assets Acquired, Liabilities Assumed, And Estimated Useful Lives	Preliminary as of June 30, 2019 Adjustments Final Intangible assets - useful life Current assets $ 50,325 $ - $ 50,325 Property, plant and equipment 4,401 - 4,401 Trade names 18,000 - 18,000 7 years Developed technology 133,000 - 133,000 7 years Customer relationships 114,000 2,000 116,000 15 years Goodwill 517,995 5,664 523,659 Assets acquired $ 837,721 $ 7,664 $ 845,385 Current liabilities ( 13,751 ) ( 255 ) ( 14,006 ) Deferred revenue ( 18,339 ) ( 166 ) ( 18,505 ) Deferred tax liabilities ( 41,570 ) ( 7,243 ) ( 48,813 ) Debt assumed ( 151,665 ) - ( 151,665 ) Total liabilities assumed $ ( 225,325 ) $ ( 7,664 ) $ ( 232,989 ) Net assets acquired $ 612,396 $ - $ 612,396
Summary Of Reconciliation Of Base Consideration	Base consideration $ 750,000 Cash acquired 15,873 Debt assumed ( 151,665 ) Net working capital and other adjustments ( 1,812 ) Net consideration $ 612,396
Other Acquisitions [Member]
Fair Values Of Assets Acquired, Liabilities Assumed, And Estimated Useful Lives	Final Intangible assets - useful life Current assets $ 31,648 Property, plant and equipment 2,290 Deferred tax assets 5,211 Trade names 7,828 10 years Non-compete 1,000 3 years Developed technology 48,280 5 to 6 years Customer relationships 53,712 5 to 15 years Goodwill 287,469 Assets acquired $ 437,438 Current liabilities ( 7,648 ) Deferred revenue ( 3,619 ) Deferred tax liabilities ( 2,367 ) Debt assumed ( 35,104 ) Total liabilities assumed $ ( 48,738 ) Net assets acquired $ 388,700

Summary Of Significant Accoun_4

Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	Jul. 01, 2019	Dec. 31, 2019	Jun. 30, 2019	Sep. 30, 2018
Summary Of Significant Accounting Policies [Line Items]
ROU assets		$ 96,745
Lease liabilities		$ 99,496
Cumulative effect of change in accounting standards				$ (188,799)
Estimated discount rate			3.50%
ASU 2016-02 [Member]
Summary Of Significant Accounting Policies [Line Items]
ROU assets	$ 77,600
Lease liabilities	81,300
Derecognized deferred rent	3,700
Cumulative effect of change in accounting standards	77,600
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue recognized over a period of		1 year
Additional ROU assets and lease liabilities due to guidance	60,000
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue recognized over a period of		5 years
Additional ROU assets and lease liabilities due to guidance	$ 70,000

Summary Of Significant Accoun_5

Summary Of Significant Accounting Policies (Summary Of Contract Balances) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Contract assets
Accounts receivable, net	$ 528,039	$ 528,484
Contract liabilities
Deferred revenue, current	(92,950)	(88,667)
Deferred revenue, non-current	(86,140)	(81,143)
Accounts Receivable, Net [Member]
Contract assets
Accounts receivable, net	528,039	528,484
Prepaid Expenses And Other Current Assets [Member]
Contract assets
Unbilled revenue, current	7,792	9,834
Prepaid Taxes And Other Non Current Assets [Member]
Contract assets
Unbilled revenue, non-current	5,186	4,592
Deferred Revenue Current Liabilities [Member]
Contract liabilities
Deferred revenue, current	(92,950)	(88,667)
Deferred Revenue Non-Current Liabilities [Member]
Contract liabilities
Deferred revenue, non-current	$ (86,140)	$ (81,143)

Summary Of Significant Accoun_6

Summary Of Significant Accounting Policies (Summary Of Reconciliation Of Amortization Of Acquired Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Amortization of intangible assets	$ 12,052	$ 9,199	$ 25,488	$ 16,154
Previously Reported [Member]
Amortization of intangible assets		15,840		28,707
Restatement Adjustment [Member]
Amortization of intangible assets		$ 6,641		$ 12,553

Summary Of Significant Accoun_7

Summary Of Significant Accounting Policies (Summary Of Reconciliation Of Gross Profit) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Amortization of intangible assets related to cost of sales	$ (12,052)	$ (9,199)	$ (25,488)	$ (16,154)
Gross profit	$ 427,130	374,532	$ 818,749	710,670
Previously Reported [Member]
Amortization of intangible assets related to cost of sales		(15,840)		(28,707)
Gross profit		$ 383,731		$ 726,824

Segment Information (Summary Of

Segment Information (Summary Of Revenue By Segment And Reconciling Items) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenues	$ 736,157,000	$ 651,100,000	$ 1,417,213,000	$ 1,239,380,000
Operating Income (Loss)	197,809,000	157,078,000	368,912,000	301,211,000
Amortization of acquired intangible assets	8,556,000	6,641,000	13,599,000	12,553,000
Litigation settlement expenses	(600,000)		(600,000)
Acquisition related expenses		6,123,000	0	6,123,000
Interest income	(202,000)	(678,000)	(650,000)	(1,600,000)
Interest expense	10,220,000	7,487,000	21,212,000	11,195,000
Loss attributable to equity method investments	(6,924,000)	(3,375,000)	(13,786,000)	(3,375,000)
Other, net	(2,115,000)	(621,000)	(5,225,000)	(3,086,000)
Income before income taxes	178,752,000	146,273,000	329,339,000	285,155,000
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	251,436,000	213,603,000	473,395,000	404,628,000
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Deferred revenue fair value adjustment	(657,000)	(2,029,000)	(2,102,000)	(2,029,000)
Corporate costs	32,962,000	32,533,000	63,894,000	66,558,000
Amortization of acquired intangible assets	20,608,000	15,840,000	39,087,000	28,707,000
Deferred revenue fair value adjustment	657,000	2,029,000	2,102,000	2,029,000
Interest income	(202,000)	(678,000)	(650,000)	(1,600,000)
Interest expense	10,220,000	7,487,000	21,212,000	11,195,000
Loss attributable to equity method investments	6,924,000	3,375,000	13,786,000	3,375,000
Other, net	2,115,000	621,000	5,225,000	3,086,000
Income before income taxes	178,752,000	146,273,000	329,339,000	285,155,000
Total Sleep And Respiratory Care [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	649,451,000	587,894,000	1,243,617,000	1,128,708,000
Operating Income (Loss)	230,097,000	196,542,000	428,260,000	372,244,000
Software As A Service Before Deferred Revenue Adjustment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	87,363,000	65,235,000	175,698,000	112,701,000
Software As A Service [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Deferred revenue fair value adjustment	(657,000)	(2,029,000)	(2,102,000)	(2,029,000)
Revenues	86,706,000	63,206,000	173,596,000	110,672,000
Operating Income (Loss)	21,339,000	17,061,000	45,135,000	32,384,000
Deferred revenue fair value adjustment	$ 657,000	$ 2,029,000	$ 2,102,000	$ 2,029,000

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Supplemental Balance Sheet Information [Abstract]
Raw materials	$ 98,047	$ 80,861
Work in progress	2,063	2,256
Finished goods	277,674	266,524
Total inventories	$ 377,784	$ 349,641

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information (Components Of Property, Plant And Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Supplemental Balance Sheet Information [Abstract]
Property, plant and equipment, gross	$ 947,877	$ 898,975
Accumulated depreciation and amortization	(539,513)	(511,515)
Property, plant and equipment, net	$ 408,364	$ 387,460

Supplemental Balance Sheet In_5

Supplemental Balance Sheet Information (Schedule Of Other Intangible Assets, Net) (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Finite-Lived Intangible Assets [Line Items]
Total other intangibles, net	$ 480,861	$ 521,950
Developed/Core Product Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangibles, gross	379,470	401,842
Accumulated amortization	(173,797)	(157,651)
Total other intangibles, net	205,673	244,191
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangibles, gross	277,222	273,114
Accumulated amortization	(69,320)	(68,630)
Total other intangibles, net	207,902	204,484
Other Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangibles, gross	177,770	176,351
Accumulated amortization	(110,484)	(103,076)
Total other intangibles, net	$ 67,286	$ 73,275
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, estimated useful life	2 years
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, estimated useful life	15 years

Goodwill (Schedule Of Changes I

Goodwill (Schedule Of Changes In Carrying Amount Of Goodwill) (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2019USD ($)
Balance at the beginning of the period	$ 1,856,449
Adjustment to fair values of preliminary purchase price allocations	16,808
Foreign currency translation adjustments	(2,610)
Balance at the end of the period	1,870,647
Sleep And Respiratory [Member]
Balance at the beginning of the period	616,965
Adjustment to fair values of preliminary purchase price allocations	526
Foreign currency translation adjustments	(2,610)
Balance at the end of the period	614,881
Saas [Member]
Balance at the beginning of the period	1,239,484
Adjustment to fair values of preliminary purchase price allocations	16,282
Foreign currency translation adjustments
Balance at the end of the period	$ 1,255,766

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Investments [Abstract]
Aggregate carrying amount of equity investments	$ 54,739	$ 62,859
Impairment losses related to equity investments	$ 5,419	$ 2,959

Investments (Schedule Of Invest

Investments (Schedule Of Investments) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Investments			$ 21,841	$ 27,967
Impairment of investments			(5,419)	(2,959)
Loss attributable to equity method investments	$ (6,924)	$ (3,375)	(13,786)	(3,375)
Carrying value of investments	54,739	62,859	54,739	62,859
Equity Method Investments [Member]
Balance at the beginning of the period			21,667
Investments			17,500	25,000
Loss attributable to equity method investments			(13,786)	(3,375)
Carrying value of investments	25,381	21,625	25,381	21,625
Non-marketable Securities [Member]
Balance at the beginning of the period			30,436	41,226
Investments			4,341	2,967
Impairment of investments			(5,419)	(2,959)
Carrying value of investments	$ 29,358	$ 41,234	$ 29,358	$ 41,234

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended		6 Months Ended
	Jun. 30, 2018	Apr. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019
Income Taxes [Line Items]
Income taxes payable				$ 42,904		$ 42,904		$ 73,248
Income taxes paid						141,948	$ 192,497
Income tax expense (benefit)				$ 18,198	$ 21,634	$ 48,637	$ 54,778
Australian Taxation Office [Member]
Income Taxes [Line Items]
Tax liabilities related to assessments	$ 75,900	$ 75,900	$ 151,700
Interest related to assessments			$ 38,400
Percentage of penalties on additional income tax	50.00%
Income taxes paid		$ 75,900
Australian Taxation Office [Member] | Tax Year 2014 To 2018 [Member]
Income Taxes [Line Items]
Tax year under audit						2018
Australian Taxation Office [Member] | Minimum [Member] | Tax Year 2009 To 2013 [Member]
Income Taxes [Line Items]
Tax year under audit			2009			2009
Australian Taxation Office [Member] | Minimum [Member] | Tax Year 2014 To 2018 [Member]
Income Taxes [Line Items]
Tax year under audit						2014
Australian Taxation Office [Member] | Maximum [Member] | Tax Year 2009 To 2013 [Member]
Income Taxes [Line Items]
Tax year under audit			2013			2013
Australian Taxation Office [Member] | Maximum [Member] | Tax Year 2014 To 2018 [Member]
Income Taxes [Line Items]
Tax year under audit						2018

Product Warranties (Schedule Of

Product Warranties (Schedule Of Changes In Liability For Warranty Costs) (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Product Warranties [Abstract]
Balance at the beginning of the period	$ 19,625	$ 19,227
Warranty accruals for the period	6,776	7,832
Warranty costs incurred for the period	(6,191)	(7,253)
Foreign currency translation adjustments	76	(431)
Balance at the end of the period	$ 20,286	$ 19,375

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	Nov. 05, 2018	Apr. 17, 2018	Dec. 31, 2019	Jun. 30, 2019
Debt Instrument [Line Items]
Debt to consolidated EBITDA ratio			3.50
Outstanding under the revolving credit facility and term credit facility			$ 1,299,493,000	$ 1,270,853,000
Senior notes, carrying amount			$ 500,000,000
Revolving Credit Facility And Term Credit Agreement [Member]
Debt Instrument [Line Items]
Senior notes, carrying amount				804,000,000
Long-term debt, fair value				$ 804,000,000
MUFG Union Bank [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,600,000,000	$ 800,000,000
Uncommitted option to increase credit facility	$ 300,000,000	300,000,000
MUFG Union Bank [Member] | ResMed Limited [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		200,000,000
MUFG Union Bank, N.A. and Westpac Banking Corporation [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 800,000,000
MUFG Union Bank, N.A. and Westpac Banking Corporation [Member] | Revolving Credit Facility And Term Credit Agreement [Member]
Debt Instrument [Line Items]
Credit facility termination date			Apr. 17, 2023
Interest rate on outstanding principal amount			2.80%
Outstanding under the revolving credit facility and term credit facility			$ 1,304,000,000
MUFG Union Bank, N.A. and Westpac Banking Corporation [Member] | ResMed Limited [Member] | Term Credit Agreement [Member]
Debt Instrument [Line Items]
Principal payment			$ 6,000,000
Minimum [Member] | MUFG Union Bank, N.A. and Westpac Banking Corporation [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, N.A. and Westpac Banking Corporation [Member] | ResMed Limited [Member] | Term Credit Agreement [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, N.A. and Westpac Banking Corporation [Member] | ResMed Limited [Member] | Term Credit Agreement [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Credit facility interest rate equal to reference rate plus			0.00%
Maximum [Member] | MUFG Union Bank, N.A. and Westpac Banking Corporation [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, N.A. and Westpac Banking Corporation [Member] | ResMed Limited [Member] | Term Credit Agreement [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, N.A. and Westpac Banking Corporation [Member] | ResMed Limited [Member] | Term Credit Agreement [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Credit facility interest rate equal to reference rate plus			0.50%
Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt, fair value			$ 513,200,000
3.24% Senior Notes Due July 10, 2026 [Member]
Debt Instrument [Line Items]
Principal amount			$ 250,000,000
Interest rate			3.24%
Maturity date			Jul. 10, 2026
3.45% Senior Notes Due July 10, 2029 [Member]
Debt Instrument [Line Items]
Principal amount			$ 250,000,000
Interest rate			3.45%
Maturity date			Jul. 10, 2029

Debt (Schedule Of Debt) (Detail

Debt (Schedule Of Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Debt [Abstract]
Short-term debt	$ 12,000	$ 12,012
Deferred borrowing costs	(16)	(20)
Short-term debt, net	11,984	11,992
Long-term debt	1,292,000	1,262,000
Deferred borrowing costs	(4,491)	(3,139)
Long-term debt, net	1,287,509	1,258,861
Total debt	$ 1,299,493	$ 1,270,853

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2016
Operating lease costs	$ 6.4	$ 12.4	$ 23.4	$ 21.1	$ 20.1
Operating lease commitments not yet commenced	$ 35.4	$ 35.4
Maximum [Member]
Remaining lease terms	13 years	13 years
Lease terms, not yet commenced	11 years	11 years
Minimum [Member]
Remaining lease terms	1 year	1 year
Lease terms, not yet commenced	2 years	2 years

Leases (Schedule Of Operating L

Leases (Schedule Of Operating Lease Assets And Liabilities) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
Operating lease ROU assets	$ 96,745
Operating lease liabilities, current portion	20,038
Operating lease liabilities, non-current portion	79,458
Total operating lease liabilities	$ 99,496
Weighted-average remaining lease term (years)	7 years 4 months 24 days
Weighted-average discount rate	2.86%

Leases (Schedule Of Minimum Lea

Leases (Schedule Of Minimum Lease Payments For Finance, Operating, And Sublease Income Leases) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
2020	$ 11,747
2021	20,482
2022	16,022
2023	13,025
2024	9,952
2025	8,202
Thereafter	35,083
Total lease payments	114,513
Less: imputed interest	(15,017)
Total operating lease liabilities	$ 99,496

Leases (Schedule Of Future Mini

Leases (Schedule Of Future Minimum Lease Payments) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Commitments [Abstract]
2020	$ 23,500
2021	17,161
2022	12,403
2023	9,478
2024	7,916
Thereafter	27,555
Total minimum lease payments	$ 98,013

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019	Apr. 30, 1997
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares repurchased under repurchase program		41,800,000	200,000
Cost of common shares repurchased	$ 22,845	$ 1,600,000	$ 22,800
Total number of shares repurchased pursuant to the repurchase program		41,836,234		41,836,234
Total cost of shares repurchased pursuant to the repurchase program		$ 1,623,256		$ 1,623,256
Additional shares that can be repurchased under the approved share repurchase program		12,900,000
Preferred stock, shares authorized		2,000,000		2,000,000
Preferred stock at par value		$ 0.01		$ 0.01
Preferred stock, shares issued		0		0
Shares issued under Employee Stock Purchase Plan		137,000	129,000
Treasury Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares repurchased under repurchase program	200,000
Cost of common shares repurchased	$ 22,844
Series A Junior Participating Preferred Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, shares authorized					2,000,000
Preferred stock at par value					$ 0.01
Preferred stock, shares issued		0		0
Preferred stock, shares outstanding		0		0
2009 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period		7 years
Common stock authorized for issuance		51,100,000
Number of securities remaining available for future issuance		15,000,000
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of securities remaining available for future issuance		2,100,000
Minimum [Member] | 2009 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
Maximum [Member] | 2009 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule Of Option Activity) (Details)	6 Months Ended	12 Months Ended
	Dec. 31, 2019$ / sharesshares	Jun. 30, 2019$ / sharesshares
Stockholders' Equity [Abstract]
Options, Outstanding at beginning of period | shares	1,260,114
Options, Granted | shares	162,180
Options, Exercised | shares	(226,773)
Options, Forfeited | shares	(4,342)
Options, Outstanding at end of period | shares	1,191,179	1,260,114
Options, Exercise price of granted options	$ 146.34
Options exercisable at end of period | shares	753,219
Weighted Average Exercise Price, Outstanding at beginning of period	$ 72.91
Weighted Average Exercise Price, Granted	146.34
Weighted Average Exercise Price, Exercised	53.39
Weighted Average Exercise Price, Forfeited	110.19
Weighted Average Exercise Price, Outstanding at end of period	86.49	$ 72.91
Weighted Average Exercise Price, Options exercisable at end of period	$ 69.96
Weighted Average Remaining Contractual Term in Years, Outstanding	4 years 9 months 18 days	4 years 4 months 24 days

Stockholders' Equity (Schedul_2

Stockholders' Equity (Schedule Of Activity Of Restricted Stock Units) (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	6 Months Ended	12 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock Units, Outstanding at beginning of period	1,446,170
Restricted Stock Units, Granted	359,704
Restricted Stock Units, Vested	(861,256)
Restricted Stock Units, Performance factor adjustment	272,195
Restricted Stock Units, Expired / cancelled	(16,146)
Restricted Stock Units, Forfeited	(5,023)
Restricted Stock Units, Outstanding at end of period	1,195,644	1,446,170
Weighted Average Grant-Date Fair Value, Outstanding at beginning of period	$ 77.21
Weighted Average Grant-Date Fair Value, Granted	140.87
Weighted Average Grant-Date Fair Value, Vested	60.48
Weighted Average Grant-Date Fair Value, Expired / cancelled	80.37
Weighted Average Grant-Date Fair Value, Forfeited	80.37
Weighted Average Grant-Date Fair Value, Outstanding at end of period	$ 102.36	$ 77.21
Weighted Average Remaining Contractual Term in Years, Outstanding	2 years	1 year 7 months 6 days
Exercisable shares, netted for tax	281,448

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Stock options and restricted stock units not included in the computation of diluted earnings per share	73,509,000	161,036,000	88,624	85,521

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	3 Months Ended				6 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Net income	$ 160,554	$ 120,148	$ 124,639	$ 105,738	$ 280,702	$ 230,377
Denominator:
Basic weighted-average common shares outstanding	144,212		142,923		143,966	142,796
Effect of dilutive securities:
Stock options and restricted stock units	1,363		1,426		1,513	1,622
Diluted weighted average shares	145,575		144,349		145,479	144,418
Basic earnings per share	$ 1.11		$ 0.87		$ 1.95	$ 1.61
Diluted earnings per share	$ 1.10		$ 0.86		$ 1.93	$ 1.60

Legal Actions And Contingenci_3

Legal Actions And Contingencies (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended			6 Months Ended
	Jun. 30, 2018	Apr. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Jun. 30, 2019
Loss Contingencies [Line Items]
Income taxes payable				$ 42,904	$ 73,248
Australian Taxation Office [Member]
Loss Contingencies [Line Items]
Percentage of penalties on additional income tax	50.00%
Tax liabilities related to assessments	$ 75,900	$ 75,900	$ 151,700
Interest related to assessments			$ 38,400
Tax Year 2009 To 2013 [Member] | Minimum [Member] | Australian Taxation Office [Member]
Loss Contingencies [Line Items]
Tax year under audit			2009	2009
Tax Year 2009 To 2013 [Member] | Maximum [Member] | Australian Taxation Office [Member]
Loss Contingencies [Line Items]
Tax year under audit			2013	2013
Tax Year 2014 To 2018 [Member] | Australian Taxation Office [Member]
Loss Contingencies [Line Items]
Tax year under audit				2018
Tax Year 2014 To 2018 [Member] | Minimum [Member] | Australian Taxation Office [Member]
Loss Contingencies [Line Items]
Tax year under audit				2014
Tax Year 2014 To 2018 [Member] | Maximum [Member] | Australian Taxation Office [Member]
Loss Contingencies [Line Items]
Tax year under audit				2018

Legal Actions And Contingenci_4

Legal Actions And Contingencies (Summary Of Receivables Sold With Recourse) (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Contingent Obligations Under Recourse Provisions [Line Items]
Total receivables sold	$ 59,338	$ 60,322
Full Recourse [Member]
Contingent Obligations Under Recourse Provisions [Line Items]
Total receivables sold		18,993
Limited Recourse [Member]
Contingent Obligations Under Recourse Provisions [Line Items]
Total receivables sold	$ 59,338	$ 41,329

Legal Actions And Contingenci_5

Legal Actions And Contingencies (Summary Of Maximum Exposure On Outstanding Receivables Sold With Recourse And Provision) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Contingent Obligations Under Recourse Provisions [Line Items]
Maximum exposure on outstanding receivables	$ 27,446	$ 29,450
Contingent provision for receivables with recourse	(3,841)	(1,752)
Full Recourse [Member]
Contingent Obligations Under Recourse Provisions [Line Items]
Maximum exposure on outstanding receivables	5,059	19,209
Limited Recourse [Member]
Contingent Obligations Under Recourse Provisions [Line Items]
Maximum exposure on outstanding receivables	$ 22,387	$ 10,241

Business Combinations (Narrativ

Business Combinations (Narrative) (Details) - USD ($)	Jan. 06, 2019	Nov. 13, 2018	Jul. 06, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019	Oct. 15, 2018
Business Combinations [Line Items]
Income (loss) from operations				$ 178,752,000	$ 146,273,000	$ 329,339,000	$ 285,155,000
Amortization of intangible assets				$ 12,052,000	9,199,000	25,488,000	16,154,000
Acquisition related expenses					$ 6,123,000	$ 0	$ 6,123,000
MatrixCare [Member]
Business Combinations [Line Items]
Percentage of acquisition shares		100.00%
Total purchase price of acquisition		$ 750,000,000
Healthcarefirst [Member]
Business Combinations [Line Items]
Percentage of acquisition shares			100.00%
Total purchase price of acquisition			$ 126,300,000
HB Healthcare [Member]
Business Combinations [Line Items]
Percentage of acquisition shares									100.00%
Propeller Health [Member]
Business Combinations [Line Items]
Total purchase price of acquisition	$ 242,900,000
Income (loss) from operations								$ 1,900,000

Business Combinations (Fair Val

Business Combinations (Fair Values Of Assets Acquired, Liabilities Assumed, And Estimated Useful Lives) (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Business Combinations [Line Items]
Goodwill	$ 1,870,647	$ 1,856,449
MatrixCare [Member]
Business Combinations [Line Items]
Current assets	50,325
Property, plant and equipment	4,401
Goodwill	523,659
Assets acquired	845,385
Current liabilities	(14,006)
Deferred revenue	(18,505)
Deferred tax liabilities	(48,813)
Debt assumed	(151,665)
Total liabilities assumed	(232,989)
Net assets acquired	612,396
MatrixCare [Member] | Previously Reported [Member]
Business Combinations [Line Items]
Current assets		50,325
Property, plant and equipment		4,401
Goodwill		517,995
Assets acquired		837,721
Current liabilities		(13,751)
Deferred revenue		(18,339)
Deferred tax liabilities		(41,570)
Debt assumed		(151,665)
Total liabilities assumed		(225,325)
Net assets acquired		612,396
MatrixCare [Member] | Adjustments [Member]
Business Combinations [Line Items]
Goodwill		5,664
Assets acquired		7,664
Current liabilities		(255)
Deferred revenue		(166)
Deferred tax liabilities		(7,243)
Total liabilities assumed		(7,664)
Other Acquisitions [Member]
Business Combinations [Line Items]
Current assets	31,648
Property, plant and equipment	2,290
Deferred tax assets	5,211
Goodwill	287,469
Assets acquired	437,438
Current liabilities	(7,648)
Deferred revenue	(3,619)
Deferred tax liabilities	(2,367)
Debt assumed	(35,104)
Total liabilities assumed	(48,738)
Net assets acquired	388,700
Trade Names [Member] | MatrixCare [Member]
Business Combinations [Line Items]
Intangible assets	$ 18,000
Intangible assets, useful life	7 years
Trade Names [Member] | MatrixCare [Member] | Previously Reported [Member]
Business Combinations [Line Items]
Intangible assets		18,000
Trade Names [Member] | Other Acquisitions [Member]
Business Combinations [Line Items]
Intangible assets	$ 7,828
Intangible assets, useful life	10 years
Non-Compete [Member] | Other Acquisitions [Member]
Business Combinations [Line Items]
Intangible assets	$ 1,000
Intangible assets, useful life	3 years
Developed Technology [Member] | MatrixCare [Member]
Business Combinations [Line Items]
Intangible assets	$ 133,000
Intangible assets, useful life	7 years
Developed Technology [Member] | MatrixCare [Member] | Previously Reported [Member]
Business Combinations [Line Items]
Intangible assets		133,000
Developed Technology [Member] | Other Acquisitions [Member]
Business Combinations [Line Items]
Intangible assets	$ 48,280
Developed Technology [Member] | Minimum [Member] | Other Acquisitions [Member]
Business Combinations [Line Items]
Intangible assets, useful life	5 years
Developed Technology [Member] | Maximum [Member] | Other Acquisitions [Member]
Business Combinations [Line Items]
Intangible assets, useful life	6 years
Customer Relationships [Member] | MatrixCare [Member]
Business Combinations [Line Items]
Intangible assets	$ 116,000
Intangible assets, useful life	15 years
Customer Relationships [Member] | MatrixCare [Member] | Previously Reported [Member]
Business Combinations [Line Items]
Intangible assets		114,000
Customer Relationships [Member] | MatrixCare [Member] | Adjustments [Member]
Business Combinations [Line Items]
Intangible assets		$ 2,000
Customer Relationships [Member] | Other Acquisitions [Member]
Business Combinations [Line Items]
Intangible assets	$ 53,712
Intangible assets, useful life	5 years
Customer Relationships [Member] | Maximum [Member] | Other Acquisitions [Member]
Business Combinations [Line Items]
Intangible assets, useful life	15 years

Business Combinations (Summary

Business Combinations (Summary Of Reconciliation Of Base Consideration) (Details) - MatrixCare [Member] $ in Thousands	Nov. 13, 2018USD ($)
Business Acquisition [Line Items]
Base consideration	$ 750,000
Cash acquired	15,873
Debt assumed	(151,665)
Net working capital and other adjustments	(1,812)
Net consideration	$ 612,396