ResMed (RMD) 10-Q 30 Apr 21 2021 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Mar. 31, 2021	Apr. 26, 2021
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
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		145,517,832
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--06-30
Entity Central Index Key	0000943819

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Current assets:
Cash and cash equivalents	$ 230,635	$ 463,156
Accounts receivable, net of allowances of $32,811 and $28,508 at March 31, 2021 and June 30, 2020, respectively	525,014	474,643
Inventories (note 3)	484,061	416,915
Prepaid expenses and other current assets	226,440	168,745
Total current assets	1,466,150	1,523,459
Non-current assets:
Property, plant and equipment, net (note 3)	455,106	417,335
Operating lease right-of-use assets	128,755	118,348
Goodwill (note 4)	1,925,991	1,890,324
Other intangible assets, net (note 3)	409,559	448,168
Deferred income taxes	49,936	41,065
Prepaid taxes and other non-current assets	150,227	148,677
Total non-current assets	3,119,574	3,063,917
Total assets	4,585,724	4,587,376
Current liabilities:
Accounts payable	117,222	135,786
Accrued expenses	304,693	270,353
Operating lease liabilities, current	22,499	21,263
Deferred revenue	105,342	98,617
Income taxes payable (note 6)	314,795	64,755
Short-term debt, net (note 8)	11,990	11,987
Total current liabilities	876,541	602,761
Non-current liabilities:
Deferred revenue	86,898	87,307
Deferred income taxes	12,474	13,011
Operating lease liabilities, non-current	115,266	101,880
Other long-term liabilities	6,067	8,347
Long-term debt, net (note 8)	719,046	1,164,133
Long-term income taxes payable (note 6)	60,198	112,910
Total non-current liabilities	999,949	1,487,588
Total liabilities	1,876,490	2,090,349
Commitments and contingencies (note 10)
Stockholders’ equity:
Preferred stock, $0.01 par value, 2,000,000 shares authorized; none issued
Common stock, $0.004 par value, 350,000,000 shares authorized; 187,352,828 issued and 145,516,594 outstanding at March 31, 2021 and 186,723,407 issued and 144,887,175 outstanding at June 30, 2020	582	580
Additional paid-in capital	1,586,545	1,570,694
Retained earnings	2,941,336	2,832,991
Treasury stock, at cost, 41,836,234 shares at December 31, 2020 and June 30, 2020	(1,623,256)	(1,623,256)
Accumulated other comprehensive loss	(195,973)	(283,982)
Total stockholders' equity	2,709,234	2,497,027
Total liabilities and stockholders' equity	$ 4,585,724	$ 4,587,376

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Condensed Consolidated Balance Sheets [Abstract]
Accounts receivable, net allowance for doubtful accounts	$ 32,811	$ 28,508
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	187,352,828	186,723,407
Common stock, shares outstanding	145,516,594	144,887,175
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		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Net revenue	$ 768,767	$ 769,455	$ 2,320,722	$ 2,186,669
Cost of sales (exclusive of amortization shown separately below)	310,585	307,657	938,253	880,633
Amortization of acquired intangible assets	10,924	12,136	34,066	37,623
Total cost of sales	321,509	319,793	972,319	918,256
Gross profit	447,258	449,662	1,348,403	1,268,413
Operating expenses:
Selling, general and administrative	160,446	172,441	488,904	511,304
Research and development	55,941	51,449	165,409	149,425
Amortization of acquired intangible assets	7,445	8,272	23,377	21,872
Restructuring expenses (note 11)			8,673
Litigation settlement expenses				(600)
Total operating expenses	223,832	232,162	686,363	682,001
Income from operations	223,426	217,500	662,040	586,412
Other income (loss), net:
Interest income	55	116	303	766
Interest expense	(5,878)	(9,968)	(18,644)	(31,180)
Loss attributable to equity method investments (note 5)	(4,969)	(5,295)	(9,895)	(19,082)
Other, net	5,371	(10,698)	10,647	(15,922)
Total other income (loss), net	(5,421)	(25,845)	(17,589)	(65,418)
Income before income taxes	218,005	191,655	644,451	520,994
Income taxes	296,486	28,518	365,046	77,155
Net income (loss)	$ (78,481)	$ 163,137	$ 279,405	$ 443,839
Basic earnings (loss) per share (note 9)	$ (0.54)	$ 1.13	$ 1.92	$ 3.08
Diluted earnings (loss) per share (note 9)	(0.54)	1.12	1.91	3.05
Dividend declared per share	$ 0.39	$ 0.39	$ 1.17	$ 1.17
Basic shares outstanding (000's)	145,513	144,638	145,217	144,112
Diluted shares outstanding (000's)	145,513	145,680	146,394	145,490
Sleep And Respiratory Care [Member]
Net revenue	$ 674,931	$ 679,895	$ 2,042,909	$ 1,923,513
Cost of sales (exclusive of amortization shown separately below)	270,351	277,065	833,203	790,858
Amortization of acquired intangible assets	900	2,152	3,995	6,609
Software As A Service [Member]
Net revenue	93,836	89,560	277,813	263,156
Cost of sales (exclusive of amortization shown separately below)	40,234	30,592	105,050	89,775
Amortization of acquired intangible assets	$ 10,024	$ 9,984	$ 30,071	$ 31,015

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Condensed Consolidated Statements Of Comprehensive Income [Abstract]
Net income (loss)	$ (78,481)	$ 163,137	$ 279,405	$ 443,839
Other comprehensive income (loss):
Foreign currency translation (loss) gain adjustments	(32,822)	(120,318)	88,009	(113,427)
Comprehensive income (loss)	$ (111,303)	$ 42,819	$ 367,414	$ 330,412

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Changes In Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]Cumulative Effect Of Change In Accounting Standards [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Cumulative Effect Of Change In Accounting Standards [Member]	Total
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		(41,836)
Common stock issued on exercise of options		5,609						5,609
Common stock issued on exercise of options, shares	110
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
Stock-based compensation costs		13,256						13,256
Other comprehensive income (loss)						(37,576)		(37,576)
Net income (loss)					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		(41,836)
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		(41,836)
Net income (loss)								443,839
Ending balance at Mar. 31, 2020	$ 579	1,533,905	$ (1,623,256)		2,711,639	(366,436)		2,256,431
Ending balance, shares at Mar. 31, 2020	186,499		(41,836)
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		(41,836)
Common stock issued on exercise of options		6,498						6,498
Common stock issued on exercise of options, shares	117
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
Common stock issued on employee stock purchase plan		12,190						12,190
Common stock issued on employee stock purchase plan, shares	137
Stock-based compensation costs		14,057						14,057
Other comprehensive income (loss)						44,467		44,467
Net income (loss)					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		(41,836)
Common stock issued on exercise of options	$ 1	1,815						1,816
Common stock issued on exercise of options, shares	34
Common stock issued on vesting of restricted stock units, net of shares withheld for tax		(4,014)						(4,014)
Common stock issued on vesting of restricted stock units, net of shares withheld for tax, shares	30
Stock-based compensation costs		14,112						14,112
Other comprehensive income (loss)						(120,318)		(120,318)
Net income (loss)					163,137			163,137
Dividends declared					(56,408)			(56,408)
Ending balance at Mar. 31, 2020	$ 579	1,533,905	$ (1,623,256)		2,711,639	(366,436)		2,256,431
Ending balance, shares at Mar. 31, 2020	186,499		(41,836)
Beginning balance at Jun. 30, 2020	$ 580	1,570,694	$ (1,623,256)		2,832,991	(283,982)		2,497,027
Beginning balance, shares at Jun. 30, 2020	186,723		(41,836)
Common stock issued on exercise of options		1,026						1,026
Common stock issued on exercise of options, shares	18
Common stock issued on vesting of restricted stock units, net of shares withheld for tax		227						227
Common stock issued on vesting of restricted stock units, net of shares withheld for tax, shares	3
Stock-based compensation costs		16,071						16,071
Other comprehensive income (loss)						43,791		43,791
Net income (loss)					178,372			178,372
Dividends declared					(56,511)			(56,511)
Ending balance at Sep. 30, 2020	$ 580	1,588,018	$ (1,623,256)	$ (1,143)	2,953,709	(240,191)	$ (1,143)	2,678,860
Ending balance, shares at Sep. 30, 2020	186,744		(41,836)
Beginning balance at Jun. 30, 2020	$ 580	1,570,694	$ (1,623,256)		2,832,991	(283,982)		2,497,027
Beginning balance, shares at Jun. 30, 2020	186,723		(41,836)
Net income (loss)								279,405
Ending balance at Mar. 31, 2021	$ 582	1,586,545	$ (1,623,256)		2,941,336	(195,973)		2,709,234
Ending balance, shares at Mar. 31, 2021	187,353		(41,836)
Beginning balance at Sep. 30, 2020	$ 580	1,588,018	$ (1,623,256)	$ (1,143)	2,953,709	(240,191)	$ (1,143)	2,678,860
Beginning balance, shares at Sep. 30, 2020	186,744		(41,836)
Common stock issued on exercise of options		1,857						1,857
Common stock issued on exercise of options, shares	29
Common stock issued on vesting of restricted stock units, net of shares withheld for tax	$ 2	(46,734)						(46,732)
Common stock issued on vesting of restricted stock units, net of shares withheld for tax, shares	451
Common stock issued on employee stock purchase plan		15,729						15,729
Common stock issued on employee stock purchase plan, shares	116
Stock-based compensation costs		15,370						15,370
Other comprehensive income (loss)						77,040		77,040
Net income (loss)					179,514			179,514
Dividends declared					(56,654)			(56,654)
Ending balance at Dec. 31, 2020	$ 582	1,574,240	$ (1,623,256)		3,076,569	(163,151)		2,864,984
Ending balance, shares at Dec. 31, 2020	187,340		(41,836)
Common stock issued on exercise of options		139						139
Common stock issued on exercise of options, shares	1
Common stock issued on vesting of restricted stock units, net of shares withheld for tax		(3,431)						(3,431)
Common stock issued on vesting of restricted stock units, net of shares withheld for tax, shares	12
Common stock issued on employee stock purchase plan		6						6
Stock-based compensation costs		15,591						15,591
Other comprehensive income (loss)						(32,822)		(32,822)
Net income (loss)					(78,481)			(78,481)
Dividends declared					(56,752)			(56,752)
Ending balance at Mar. 31, 2021	$ 582	$ 1,586,545	$ (1,623,256)		$ 2,941,336	$ (195,973)		$ 2,709,234
Ending balance, shares at Mar. 31, 2021	187,353		(41,836)

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income	$ 279,405	$ 443,839
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	120,034	116,341
Amortization of right-of-use-assets	25,805	19,524
Stock-based compensation costs	47,032	41,421
Loss attributable to equity method investments (note 5)	9,895	19,082
(Gain) loss on equity investments (note 5)	(9,442)	14,519
Restructuring expenses (note 11)	8,673
Changes in fair value of business combination contingent consideration		(7)
Changes in operating assets and liabilities:
Accounts receivable	(39,899)	(34,140)
Inventories	(48,393)	(22,564)
Prepaid expenses, net deferred income taxes and other current assets	(41,036)	(68,724)
Accounts payable, accrued expenses and other	158,119	(57,301)
Net cash provided by operating activities	510,193	471,990
Cash flows from investing activities:
Purchases of property, plant and equipment	(74,805)	(77,360)
Patent registration costs	(11,149)	(7,391)
Business acquisitions, net of cash acquired	(30,704)	(27,910)
Purchases of investments (note 5)	(20,038)	(31,616)
Proceeds on maturity of foreign currency contracts	26,306	(32,177)
Net cash used in investing activities	(110,390)	(176,454)
Cash flows from financing activities:
Proceeds from issuance of common stock, net	18,759	26,112
Taxes paid related to net share settlement of equity awards	(49,938)	(45,106)
Payments of business combination contingent consideration	(3,500)	(302)
Proceeds from borrowings, net of borrowing costs	90,000	990,000
Repayment of borrowings	(536,000)	(883,012)
Dividends paid	(169,917)	(168,610)
Net cash used in financing activities	(650,596)	(80,918)
Effect of exchange rate changes on cash	18,272	(8,885)
Net increaase (decrease) in cash and cash equivalents	(232,521)	205,733
Cash and cash equivalents at beginning of period	463,156	147,128
Cash and cash equivalents at end of period	230,635	352,861
Supplemental disclosure of cash flow information:
Income taxes paid, net of refunds	180,307	150,801
Interest paid	18,644	31,180
Fair value of assets acquired, excluding cash	15,992	14,922
Liabilities assumed	(3,309)	(4,294)
Goodwill on acquisition	24,202	20,550
Deferred payments	(1,681)	232
Fair value of contingent consideration		(3,500)
Cash paid for acquisitions	$ 35,204	$ 27,910

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2021
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. We also operate a Software as a Service (“SaaS”) business in the United States that includes out-of-hospital software platforms designed to support the professionals and caregivers who help people stay healthy in the home or care setting of their choice. 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, 2021. The condensed consolidated financial statements for the three and nine months ended March 31, 2021 and March 31, 2020 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, 2020. Revenue Recognition In accordance with Accounting Standard Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers”, 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 The following table summarizes our net revenue disaggregated by segment, product and region (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 U.S., Canada and Latin America Devices $ 192,897 $ 196,497 $ 595,287 $ 586,907 Masks and other 209,984 197,052 637,507 584,901 Total Sleep and Respiratory Care $ 402,881 $ 393,549 $ 1,232,794 $ 1,171,808 Software as a Service 93,836 89,560 277,813 263,156 Total $ 496,717 $ 483,109 $ 1,510,607 $ 1,434,964 Combined Europe, Asia and other markets Devices $ 172,838 $ 195,038 $ 536,856 $ 509,274 Masks and other 99,212 91,308 273,259 242,431 Total Sleep and Respiratory Care $ 272,050 $ 286,346 $ 810,115 $ 751,705 Global revenue Devices $ 365,735 $ 391,535 $ 1,132,143 $ 1,096,181 Masks and other 309,196 288,360 910,766 827,332 Total Sleep and Respiratory Care $ 674,931 $ 679,895 $ 2,042,909 $ 1,923,513 Software as a Service 93,836 89,560 277,813 263,156 Total $ 768,767 $ 769,455 $ 2,320,722 $ 2,186,669 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 . Our contracts do not contain significant financing components. The following table summarizes our contract balances (in thousands): March 31, 2021 June 30, 2020 Balance sheet caption Contract assets Accounts receivable, net $ 525,014 $ 474,643 Accounts receivable, net Unbilled revenue, current 12,540 9,452 Prepaid expenses and other current assets Unbilled revenue, non-current 5,404 6,957 Prepaid taxes and other non-current assets Contract liabilities Deferred revenue, current ( 105,342 ) ( 98,617 ) Deferred revenue (current liabilities) Deferred revenue, non-current ( 86,898 ) ( 87,307 ) 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. When Sleep and Respiratory Care or SaaS contracts have 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 each performance obligation. An allocation is not required for many of our Sleep and Respiratory Care contracts that have a single performance obligation, which is the shipment of our therapy-based equipment. Accounting and practical expedient elections We have elected to account for shipping and handling activities associated with our Sleep and Respiratory Care segment as a fulfillment cost within cost of sales, and record shipping and handling costs collected from customers in net revenue. We have also elected for all taxes assessed by government authorities that are imposed on and concurrent with revenue-producing transactions, such as sales and value added taxes, to be excluded from revenue and presented on a net basis. We have elected two practical expedients including the “right to invoice” practical expedient, which is relevant for some of our SaaS contracts as it allows us to recognize revenue in the amount of the invoice when it corresponds directly with the value of performance completed to date. The second practical expedient adopted permits relief from considering a significant financing component when the payment for the good or service is expected to be one year or less. Lease Revenue We lease sleep and respiratory medical devices to customers primarily as a means to comply with local health insurer requirements in certain foreign geographies. Device rental contracts include sales-type and operating leases, and contract terms vary by customer and include options to terminate or extend the contract. When lease contracts also include the sale of masks and accessories, we allocate contract consideration to those items on a relative standalone price basis and recognize revenue when control transfers to the customer. The components of lease revenue were as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 Sales-type lease revenue $ 2,031 $ 3,784 $ 5,854 $ 9,110 Operating lease revenue 22,746 22,720 72,551 65,672 Total lease revenue $ 24,777 $ 26,504 $ 78,405 $ 74,782 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. 2020-04 “Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting” In March 2020, the FASB issued ASU No. 2020-04, “Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (Topic 848), which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The guidance is effective for us as of March 12, 2020 through December 31, 2022. We are currently evaluating the impact that this guidance, if elected, will have on our consolidated financial statements. (b) Recently adopted accounting pronouncements ASU No. 2016-13 “Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments” In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments” (Topic 326), which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. The guidance was adopted effective July 1, 2020 using the modified retrospective approach. We recognized the cumulative effect of adopting this guidance as an adjustment to the opening balance of retained earnings of $ 1.1 million, net of tax, related to our allowance for credit losses for accounts receivable. The adoption of this ASU did not have a material impact on our condensed consolidated financial statements. ASU No. 2018-15 “Intangibles-Goodwill and Other-Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract” In August 2018, the FASB issued ASU No. 2018-15, “Intangibles-Goodwill and Other-Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract” (Subtopic 350-40), which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance was adopted effective July 1, 2020 and will be applied prospectively. Under the new ASU, capitalized implementation costs are presented as other non-current assets on our consolidated balance sheets and within operating cash flows on our consolidated statements of cash flows. The adoption of this ASU did not have a material impact on our condensed consolidated financial statements.

Segment Information

Segment Information	9 Months Ended
	Mar. 31, 2021
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 revenues and income from operations. The accounting policies of the segments are the same as those described in note 2 of our consolidated financial statements included in our Form 10-K for the year ended June 30, 2020. Segment net revenues 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, restructuring expenses, litigation settlement expenses, deferred revenue fair value adjustment, 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 March 31, Nine Months Ended March 31, 2021 2020 2021 2020 Net revenue by segment Total Sleep and Respiratory Care $ 674,931 $ 679,895 $ 2,042,909 $ 1,923,513 Software as a Service 93,836 89,560 277,813 265,258 Deferred revenue fair value adjustment (1) - - - ( 2,102 ) Total Software as a Service 93,836 89,560 277,813 263,156 Total $ 768,767 $ 769,455 $ 2,320,722 $ 2,186,669 Depreciation and amortization by segment Sleep and Respiratory Care $ 13,589 $ 14,134 $ 39,979 $ 43,012 Software as a Service 1,491 1,025 3,599 2,844 Amortization of acquired intangible assets and corporate assets 24,908 24,105 76,456 70,485 Total $ 39,988 $ 39,264 $ 120,034 $ 116,341 Net operating profit by segment (2) Sleep and Respiratory Care (2) $ 253,693 $ 250,209 $ 763,534 $ 678,468 Software as a Service (2) 23,052 18,738 70,929 63,874 Total $ 276,745 $ 268,947 $ 834,463 $ 742,342 Reconciling items Corporate costs $ 34,950 $ 31,039 $ 106,307 $ 94,933 Amortization of acquired intangible assets 18,369 20,408 57,443 59,495 Restructuring expenses - - 8,673 - Litigation settlement expenses - - - ( 600 ) Deferred revenue fair value adjustment (1) - - - 2,102 Interest expense (income), net 5,823 9,852 18,341 30,414 Loss attributable to equity method investments 4,969 5,295 9,895 19,082 Other, net ( 5,371 ) 10,698 ( 10,647 ) 15,922 Income before income taxes $ 218,005 $ 191,655 $ 644,451 $ 520,994 (1) The deferred revenue fair value adjustment is a purchase price accounting adjustment related to MatrixCare which was acquired on November 13, 2018. (2) During the three and nine months ended March 31, 2021, we recorded $ 0.0 million and $ 2.8 million of impairment for our operating lease right-of-use asset, respectively. The impairment related to leases for office space and was recorded within net operating profit. The impairment for the nine months ended March 31, 2021 attributable to Sleep and Respiratory Care was $ 1.6 million and $ 1.2 million for SaaS .

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	9 Months Ended
	Mar. 31, 2021
Supplemental Balance Sheet Information [Abstract]
Supplemental Balance Sheet Information	(3) Supplemental Balance Sheet Information Components of selected captions in the condensed consolidated balance sheets consisted of the following (in thousands): Inventories March 31, 2021 June 30, 2020 Raw materials $ 145,444 $ 128,096 Work in progress 3,750 2,807 Finished goods 334,867 286,012 Total inventories $ 484,061 $ 416,915 Property, Plant and Equipment March 31, 2021 June 30, 2020 Property, plant and equipment, at cost $ 1,056,004 $ 969,166 Accumulated depreciation and amortization ( 600,898 ) ( 551,831 ) Property, plant and equipment, net $ 455,106 $ 417,335 Other Intangible Assets March 31, 2021 June 30, 2020 Developed/core product technology $ 383,124 $ 382,806 Accumulated amortization ( 227,793 ) ( 197,670 ) Developed/core product technology, net 155,331 185,136 Customer relationships 278,196 279,370 Accumulated amortization ( 91,550 ) ( 80,922 ) Customer relationships, net 186,646 198,448 Other intangibles 196,415 177,091 Accumulated amortization ( 128,833 ) ( 112,507 ) Other intangibles, net 67,582 64,584 Total other intangibles, net $ 409,559 $ 448,168 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	9 Months Ended
	Mar. 31, 2021
Goodwill [Abstract]
Goodwill	(4) Goodwill A reconciliation of changes in our goodwill by reportable segment is as follows (in thousands): Nine Months Ended March 31, 2021 Sleep and Respiratory Care SaaS Total Balance at the beginning of the period $ 614,448 $ 1,275,876 $ 1,890,324 Business acquisitions 4,707 19,495 24,202 Foreign currency translation adjustments 11,465 - 11,465 Balance at the end of the period $ 630,620 $ 1,295,371 $ 1,925,991

Investments

Investments	9 Months Ended
	Mar. 31, 2021
Investments [Abstract]
Investments	(5) Investments We have equity investments in privately held companies that are unconsolidated entities. The following discusses our investments in marketable equity securities, non-marketable equity securities, gains and losses on marketable and non-marketable equity securities, as well as our equity securities accounted for under the equity method. Our marketable equity securities are publicly traded stocks measured at fair value and classified within Level 1 in the fair value hierarchy because we use quoted prices for identical assets in active markets. Marketable equity securities are recorded in prepaid expenses and other current assets on the condensed consolidated balance sheets. Non-marketable equity securities consist of investments in privately held companies without readily determinable fair values and are recorded in prepaid taxes and other non-current assets on the condensed consolidated balance sheets. Non-marketable equity securities 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 non-marketable equity investments using Level 3 inputs to assess whether impairment losses shall be recorded. All gains and losses on marketable and non-marketable equity securities, realized and unrealized, are recognized in other, net on the condensed consolidated statements of operations. 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 as a component of other, net on the condensed consolidated statements of operations. Equity investments by measurement category were as follows (in thousands): Measurement category March 31, 2021 June 30, 2020 Fair value $ 24,011 $ - Measurement alternative 23,002 30,033 Equity method 16,714 14,109 Total $ 63,727 $ 44,142 The following table shows a reconciliation of the changes in our equity investments (in thousands): Nine Months Ended March 31, 2021 Non-marketable securities Marketable securities Equity method investments Total Balance at the beginning of the period $ 30,033 $ - $ 14,109 $ 44,142 Investments 2,538 5,000 12,500 20,038 Observable price adjustments on non-marketable equity securities 1,000 - - 1,000 Ongoing mark-to-market adjustments on marketable equity securities - 8,442 - 8,442 Reclassifications (1) ( 10,569 ) 10,569 - - Loss attributable to equity method investments - - ( 9,895 ) ( 9,895 ) Carrying value at the end of the period $ 23,002 $ 24,011 $ 16,714 $ 63,727 (1) During the nine months ended March 31, 2021, one of our investments, which was previously accounted for under the measurement alternative, completed its initial public offering which resulted in a change of accounting methodology to fair value. Nine Months Ended March 31, 2020 Non-marketable securities Marketable securities Equity method investments Total Balance at the beginning of the period $ 30,436 $ - $ 21,667 $ 52,103 Investments 14,116 - 17,500 31,616 Impairment of investments ( 14,519 ) - - ( 14,519 ) Loss attributable to equity method investments - - ( 19,082 ) ( 19,082 ) Carrying value at the end of the period $ 30,033 $ - $ 20,085 $ 50,118 Net unrealized gains recognized for equity investments held as of March 31, 2021 for the three and nine months ended March 31, 2021 were $ 4.7 million and $ 9.4 million, respectively, which related to publicly traded marketable equity securities and privately held non-marketable securities. Net unrealized losses recognized for equity investments held as of March 31, 2020 for the three and nine months ended March 31, 2020 were $ 9.1 million and $ 14.5 million, respectively, which related to impairments of privately held non-marketable securities.

Income Taxes

Income Taxes	9 Months Ended
	Mar. 31, 2021
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 . Our effective income tax rate for the three and nine months ended March 31, 2021 was 136.0 % and 56.6 %, respectively, as compared to 14.9 % and 14.8 % for the three and nine months ended March 31, 2020, respectively. The increase in our effective tax rate was primarily due to an increase in unrecognized tax benefits as outlined below. Additionally, the increase in our effective tax rate was impacted by the geographic mix of earnings and lower windfall tax benefits related to the vesting or settlement of employee share-based awards, which reduced our income tax expense by $ 0.6 million and $ 12.6 million for the three and nine months ended March 31, 2021, respectively, as compared to $ 2.4 million and $ 24.8 million for the three and nine months ended March 31, 2020, respectively. We are under audit by the Australian Taxation Office (the “ATO”) for the years 2009 to 2018 (the “Audit Period”). The audits primarily involve a transfer pricing dispute in which the ATO asserts we should have paid additional Australian taxes on income derived from our Singapore operations. The ATO issued Notices of Amended Assessments for the tax years 2009 to 2013 seeking a total of $ 266.0 million, consisting of $ 151.7 million in additional income tax and $ 114.3 million in penalties and interest. The 2014 to 2018 periods are still under audit and we have not yet received any Notices of Amended Assessments relative to those periods. A total of $ 98.8 million in tax has been prepaid in relation to the Audit Period, which is consistent with ATO procedural audit practice. 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 if the matter progresses to litigation. However, if we are not successful, we will be required to pay some or all of the additional income tax, accrued interest and penalties, including potential additional amounts relating to the 2014 to 2018 periods. To that end, we are engaged in ongoing discussions with the ATO to resolve the dispute for the entire Audit Period. Given the stage of those discussions, during the three and nine months ended March 31, 2021, we recorded $ 395.9 million of gross unrecognized tax benefits, including $ 53.3 million of accrued interest and penalties, associated with the ATO audits for the Audit Period. This amount reflects our estimate of the potential tax liability and is subject to change. If recognized, we estimate that approximately $ 254.8 million, of unrecognized tax benefits would affect our effective tax rate, which represents the $ 395.9 million of gross unrecognized tax benefits noted previously, adjusted for tax credits and deductions of $ 141.1 million . We have elected to recognize interest and penalties related to unrecognized tax benefits as a component of income taxes. The timing and resolution of the ATO audits are inherently uncertain, and the amounts we might ultimately pay, if any, upon resolution of issues raised by the ATO may differ materially from the amounts accrued. Although it is expected that the amount of unrecognized tax benefits may change in the next 12 months, an estimate of the range of the possible change cannot be made.

Product Warranties

Product Warranties	9 Months Ended
	Mar. 31, 2021
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): Nine Months Ended March 31, 2021 2020 Balance at the beginning of the period $ 21,132 $ 19,625 Warranty accruals for the period 11,521 10,879 Warranty costs incurred for the period ( 11,253 ) ( 9,620 ) Foreign currency translation adjustments 1,566 ( 1,650 ) Balance at the end of the period $ 22,966 $ 19,234

Debt

Debt	9 Months Ended
	Mar. 31, 2021
Debt [Abstract]
Debt	(8) Debt Debt consisted of the following (in thousands): March 31, 2021 June 30, 2020 Short-term debt $ 12,000 $ 12,000 Deferred borrowing costs ( 10 ) ( 13 ) Short-term debt, net 11,990 11,987 - Long-term debt $ 722,000 $ 1,168,000 Deferred borrowing costs ( 2,954 ) ( 3,867 ) Long-term debt, net $ 719,046 $ 1,164,133 Total debt $ 731,036 $ 1,176,120 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 March 31, 2021, the interest rate that was being charged on the outstanding principal amounts was 1.0 %. An applicable commitment fee of 0.100 % to 0.175 % (depending on the then-applicable leverage ratio) applies on the unused portion of the revolving credit facility. As of March 31, 2021, we had $ 1.5 billion available for draw down under 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 March 31, 2021 and June 30, 2020, which was $ 234.0 million and $ 680.0 million, respectively. Quoted market prices in active markets for identical liabilities based inputs (Level 1) were used to estimate fair value. 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 (as defined in the Note Purchase Agreement) 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. This ratio is calculated at the end of each reporting period for which the Note Purchase Agreement requires us to deliver financial statements, using the results of the 12 consecutive month period ending with such reporting period. 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 March 31, 2021, the Senior Notes have a carrying amount of $ 500.0 million, excluding deferred borrowing costs, and an estimated fair value of $ 519.3 million. Quoted market prices in active markets for identical liabilities based inputs (Level 1) were used to estimate fair value. At March 31, 2021, we were in compliance with our debt covenants and there was $ 734.0 million outstanding under the Revolving Credit Agreement, Term Credit Agreement and Senior Notes.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Mar. 31, 2021
Earnings (Loss) Per Share [Abstract]
Earnings (Loss) Per Share	(9) Earnings (Loss) Per Share Basic earnings (loss) per share is computed by dividing the net income (loss) available to common stockholders by the weighted average number of shares of common stock outstanding. For purposes of calculating diluted earnings (loss) 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 calculation of diluted weighted average shares for the three months ended March 31, 2021 excluded 857,799 potentially dilutive common shares because we reported a net loss. The weighted average number of outstanding stock options and restricted stock units not included in the computation of diluted earnings (loss) per share were 225,580 and 267,556 for the three months ended March 31, 2021 and 2020 , respectively, and 200,341 and 128,789 for the nine months ended March 31, 2021 and 2020, respectively as the effect would have been anti-dilutive. Basic and diluted earnings (loss) per share are calculated as follows (in thousands except per share data): Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 Numerator: Net income (loss) $ ( 78,481 ) $ 163,137 $ 279,405 $ 443,839 Denominator: Basic weighted-average common shares outstanding 145,513 144,638 145,217 144,112 Effect of dilutive securities: Stock options and restricted stock units - 1,042 1,177 1,378 Diluted weighted average shares 145,513 145,680 146,394 145,490 Basic earnings (loss) per share $ ( 0.54 ) $ 1.13 $ 1.92 $ 3.08 Diluted earnings (loss) per share $ ( 0.54 ) $ 1.12 $ 1.91 $ 3.05

Legal Actions And Contingencies

Legal Actions And Contingencies	9 Months Ended
	Mar. 31, 2021
Legal Actions And Contingencies [Abstract]
Legal Actions And Contingencies	(10 ) 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 We are under audit by the ATO in three different cycles: tax years 2009 to 2013, tax years 2014 to 2017 and tax year 2018. Please refer to note 6 – Income Taxes, where we have provided an update in relation to this tax dispute in accordance with ASC 740 Income Taxes . 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 limited recourse 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. During the nine months ended March 31, 2021 and March 31, 2020, receivables sold with limited recourse were $ 112.2 million and $ 99.8 million, respectively. As of March 31, 2021, the maximum exposure on outstanding receivables sold with recourse and contingent provision were $ 26.5 million and $ 7.9 million, respectively. As of June 30, 2020, the maximum exposure on outstanding receivables sold with recourse and contingent provision were $ 22.8 million and $ 6.6 million, respectively.

Restructuring Expenses

Restructuring Expenses	9 Months Ended
	Mar. 31, 2021
Restructuring Expenses [Abstract]
Restructuring Expenses	(11 ) Restructuring Expenses In November 2020, we closed our Portable Oxygen Concentrator business, which was part of the Sleep and Respiratory Care segment. During the nine months ended March 31, 2021, we recognized restructuring expenses of $ 13.9 million primarily related to inventory write-downs of $ 5.2 million, accelerated amortization of acquired intangible assets of $ 5.1 million, asset impairments of $ 2.3 million, employee-related costs of $ 0.7 million and contract cancellation costs of $ 0.6 million. Of the total expense recognized during nine months ended March 31, 2020, the inventory write-down of $ 5.2 million is presented within cost of sales and the remaining $ 8.7 million in restructuring costs is separately disclosed as restructuring expenses on the condensed consolidated statements of operations. The restructure was substantially completed as of March 31, 2021 and we do not expect to incur additional material expenses in connection with this activity in the future.

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies (Policy)	9 Months Ended
	Mar. 31, 2021
Summary Of Significant Accounting Policies [Abstract]
Organization And Basis Of Presentation	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. We also operate a Software as a Service (“SaaS”) business in the United States that includes out-of-hospital software platforms designed to support the professionals and caregivers who help people stay healthy in the home or care setting of their choice. 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, 2021. The condensed consolidated financial statements for the three and nine months ended March 31, 2021 and March 31, 2020 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, 2020.
Revenue Recognition	Revenue Recognition In accordance with Accounting Standard Codification (“ASC”) Topic 606, “Revenue from Contracts with Customers”, 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 The following table summarizes our net revenue disaggregated by segment, product and region (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 U.S., Canada and Latin America Devices $ 192,897 $ 196,497 $ 595,287 $ 586,907 Masks and other 209,984 197,052 637,507 584,901 Total Sleep and Respiratory Care $ 402,881 $ 393,549 $ 1,232,794 $ 1,171,808 Software as a Service 93,836 89,560 277,813 263,156 Total $ 496,717 $ 483,109 $ 1,510,607 $ 1,434,964 Combined Europe, Asia and other markets Devices $ 172,838 $ 195,038 $ 536,856 $ 509,274 Masks and other 99,212 91,308 273,259 242,431 Total Sleep and Respiratory Care $ 272,050 $ 286,346 $ 810,115 $ 751,705 Global revenue Devices $ 365,735 $ 391,535 $ 1,132,143 $ 1,096,181 Masks and other 309,196 288,360 910,766 827,332 Total Sleep and Respiratory Care $ 674,931 $ 679,895 $ 2,042,909 $ 1,923,513 Software as a Service 93,836 89,560 277,813 263,156 Total $ 768,767 $ 769,455 $ 2,320,722 $ 2,186,669 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 . Our contracts do not contain significant financing components. The following table summarizes our contract balances (in thousands): March 31, 2021 June 30, 2020 Balance sheet caption Contract assets Accounts receivable, net $ 525,014 $ 474,643 Accounts receivable, net Unbilled revenue, current 12,540 9,452 Prepaid expenses and other current assets Unbilled revenue, non-current 5,404 6,957 Prepaid taxes and other non-current assets Contract liabilities Deferred revenue, current ( 105,342 ) ( 98,617 ) Deferred revenue (current liabilities) Deferred revenue, non-current ( 86,898 ) ( 87,307 ) 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. When Sleep and Respiratory Care or SaaS contracts have 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 each performance obligation. An allocation is not required for many of our Sleep and Respiratory Care contracts that have a single performance obligation, which is the shipment of our therapy-based equipment. Accounting and practical expedient elections We have elected to account for shipping and handling activities associated with our Sleep and Respiratory Care segment as a fulfillment cost within cost of sales, and record shipping and handling costs collected from customers in net revenue. We have also elected for all taxes assessed by government authorities that are imposed on and concurrent with revenue-producing transactions, such as sales and value added taxes, to be excluded from revenue and presented on a net basis. We have elected two practical expedients including the “right to invoice” practical expedient, which is relevant for some of our SaaS contracts as it allows us to recognize revenue in the amount of the invoice when it corresponds directly with the value of performance completed to date. The second practical expedient adopted permits relief from considering a significant financing component when the payment for the good or service is expected to be one year or less.
Lease Revenue	Lease Revenue We lease sleep and respiratory medical devices to customers primarily as a means to comply with local health insurer requirements in certain foreign geographies. Device rental contracts include sales-type and operating leases, and contract terms vary by customer and include options to terminate or extend the contract. When lease contracts also include the sale of masks and accessories, we allocate contract consideration to those items on a relative standalone price basis and recognize revenue when control transfers to the customer. The components of lease revenue were as follows (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 Sales-type lease revenue $ 2,031 $ 3,784 $ 5,854 $ 9,110 Operating lease revenue 22,746 22,720 72,551 65,672 Total lease revenue $ 24,777 $ 26,504 $ 78,405 $ 74,782
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. 2020-04 “Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting” In March 2020, the FASB issued ASU No. 2020-04, “Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (Topic 848), which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The guidance is effective for us as of March 12, 2020 through December 31, 2022. We are currently evaluating the impact that this guidance, if elected, will have on our consolidated financial statements. (b) Recently adopted accounting pronouncements ASU No. 2016-13 “Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments” In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, “Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments” (Topic 326), which amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. The guidance was adopted effective July 1, 2020 using the modified retrospective approach. We recognized the cumulative effect of adopting this guidance as an adjustment to the opening balance of retained earnings of $ 1.1 million, net of tax, related to our allowance for credit losses for accounts receivable. The adoption of this ASU did not have a material impact on our condensed consolidated financial statements. ASU No. 2018-15 “Intangibles-Goodwill and Other-Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract” In August 2018, the FASB issued ASU No. 2018-15, “Intangibles-Goodwill and Other-Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract” (Subtopic 350-40), which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance was adopted effective July 1, 2020 and will be applied prospectively. Under the new ASU, capitalized implementation costs are presented as other non-current assets on our consolidated balance sheets and within operating cash flows on our consolidated statements of cash flows. The adoption of this ASU did not have a material impact on our condensed consolidated financial statements.

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Tables)	9 Months Ended
	Mar. 31, 2021
Summary Of Significant Accounting Policies [Abstract]
Summary Of Net Revenue Disaggregated By Product And Region	Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 U.S., Canada and Latin America Devices $ 192,897 $ 196,497 $ 595,287 $ 586,907 Masks and other 209,984 197,052 637,507 584,901 Total Sleep and Respiratory Care $ 402,881 $ 393,549 $ 1,232,794 $ 1,171,808 Software as a Service 93,836 89,560 277,813 263,156 Total $ 496,717 $ 483,109 $ 1,510,607 $ 1,434,964 Combined Europe, Asia and other markets Devices $ 172,838 $ 195,038 $ 536,856 $ 509,274 Masks and other 99,212 91,308 273,259 242,431 Total Sleep and Respiratory Care $ 272,050 $ 286,346 $ 810,115 $ 751,705 Global revenue Devices $ 365,735 $ 391,535 $ 1,132,143 $ 1,096,181 Masks and other 309,196 288,360 910,766 827,332 Total Sleep and Respiratory Care $ 674,931 $ 679,895 $ 2,042,909 $ 1,923,513 Software as a Service 93,836 89,560 277,813 263,156 Total $ 768,767 $ 769,455 $ 2,320,722 $ 2,186,669
Summary Of Contract Balances	March 31, 2021 June 30, 2020 Balance sheet caption Contract assets Accounts receivable, net $ 525,014 $ 474,643 Accounts receivable, net Unbilled revenue, current 12,540 9,452 Prepaid expenses and other current assets Unbilled revenue, non-current 5,404 6,957 Prepaid taxes and other non-current assets Contract liabilities Deferred revenue, current ( 105,342 ) ( 98,617 ) Deferred revenue (current liabilities) Deferred revenue, non-current ( 86,898 ) ( 87,307 ) Deferred revenue (non-current liabilities)
Schedule Of Components Of Lease Revenue	Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 Sales-type lease revenue $ 2,031 $ 3,784 $ 5,854 $ 9,110 Operating lease revenue 22,746 22,720 72,551 65,672 Total lease revenue $ 24,777 $ 26,504 $ 78,405 $ 74,782

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Mar. 31, 2021
Segment Information [Abstract]
Summary Of Revenue By Segment And Reconciling Items	Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 Net revenue by segment Total Sleep and Respiratory Care $ 674,931 $ 679,895 $ 2,042,909 $ 1,923,513 Software as a Service 93,836 89,560 277,813 265,258 Deferred revenue fair value adjustment (1) - - - ( 2,102 ) Total Software as a Service 93,836 89,560 277,813 263,156 Total $ 768,767 $ 769,455 $ 2,320,722 $ 2,186,669 Depreciation and amortization by segment Sleep and Respiratory Care $ 13,589 $ 14,134 $ 39,979 $ 43,012 Software as a Service 1,491 1,025 3,599 2,844 Amortization of acquired intangible assets and corporate assets 24,908 24,105 76,456 70,485 Total $ 39,988 $ 39,264 $ 120,034 $ 116,341 Net operating profit by segment (2) Sleep and Respiratory Care (2) $ 253,693 $ 250,209 $ 763,534 $ 678,468 Software as a Service (2) 23,052 18,738 70,929 63,874 Total $ 276,745 $ 268,947 $ 834,463 $ 742,342 Reconciling items Corporate costs $ 34,950 $ 31,039 $ 106,307 $ 94,933 Amortization of acquired intangible assets 18,369 20,408 57,443 59,495 Restructuring expenses - - 8,673 - Litigation settlement expenses - - - ( 600 ) Deferred revenue fair value adjustment (1) - - - 2,102 Interest expense (income), net 5,823 9,852 18,341 30,414 Loss attributable to equity method investments 4,969 5,295 9,895 19,082 Other, net ( 5,371 ) 10,698 ( 10,647 ) 15,922 Income before income taxes $ 218,005 $ 191,655 $ 644,451 $ 520,994 (1) The deferred revenue fair value adjustment is a purchase price accounting adjustment related to MatrixCare which was acquired on November 13, 2018. (2) During the three and nine months ended March 31, 2021, we recorded $ 0.0 million and $ 2.8 million of impairment for our operating lease right-of-use asset, respectively. The impairment related to leases for office space and was recorded within net operating profit. The impairment for the nine months ended March 31, 2021 attributable to Sleep and Respiratory Care was $ 1.6 million and $ 1.2 million for SaaS

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	9 Months Ended
	Mar. 31, 2021
Supplemental Balance Sheet Information [Abstract]
Schedule Of Inventories	Inventories March 31, 2021 June 30, 2020 Raw materials $ 145,444 $ 128,096 Work in progress 3,750 2,807 Finished goods 334,867 286,012 Total inventories $ 484,061 $ 416,915
Components Of Property, Plant And Equipment	Property, Plant and Equipment March 31, 2021 June 30, 2020 Property, plant and equipment, at cost $ 1,056,004 $ 969,166 Accumulated depreciation and amortization ( 600,898 ) ( 551,831 ) Property, plant and equipment, net $ 455,106 $ 417,335
Schedule Of Other Intangible Assets, Net	Other Intangible Assets March 31, 2021 June 30, 2020 Developed/core product technology $ 383,124 $ 382,806 Accumulated amortization ( 227,793 ) ( 197,670 ) Developed/core product technology, net 155,331 185,136 Customer relationships 278,196 279,370 Accumulated amortization ( 91,550 ) ( 80,922 ) Customer relationships, net 186,646 198,448 Other intangibles 196,415 177,091 Accumulated amortization ( 128,833 ) ( 112,507 ) Other intangibles, net 67,582 64,584 Total other intangibles, net $ 409,559 $ 448,168

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Mar. 31, 2021
Goodwill [Abstract]
Schedule Of Changes In Carrying Amount Of Goodwill	Nine Months Ended March 31, 2021 Sleep and Respiratory Care SaaS Total Balance at the beginning of the period $ 614,448 $ 1,275,876 $ 1,890,324 Business acquisitions 4,707 19,495 24,202 Foreign currency translation adjustments 11,465 - 11,465 Balance at the end of the period $ 630,620 $ 1,295,371 $ 1,925,991

Investments (Tables)

Investments (Tables)	9 Months Ended
	Mar. 31, 2021
Investments [Abstract]
Schedule Of Investments	Measurement category March 31, 2021 June 30, 2020 Fair value $ 24,011 $ - Measurement alternative 23,002 30,033 Equity method 16,714 14,109 Total $ 63,727 $ 44,142
Schedule Of Changes In Equity Investments	The following table shows a reconciliation of the changes in our equity investments (in thousands): Nine Months Ended March 31, 2021 Non-marketable securities Marketable securities Equity method investments Total Balance at the beginning of the period $ 30,033 $ - $ 14,109 $ 44,142 Investments 2,538 5,000 12,500 20,038 Observable price adjustments on non-marketable equity securities 1,000 - - 1,000 Ongoing mark-to-market adjustments on marketable equity securities - 8,442 - 8,442 Reclassifications (1) ( 10,569 ) 10,569 - - Loss attributable to equity method investments - - ( 9,895 ) ( 9,895 ) Carrying value at the end of the period $ 23,002 $ 24,011 $ 16,714 $ 63,727 (1) During the nine months ended March 31, 2021, one of our investments, which was previously accounted for under the measurement alternative, completed its initial public offering which resulted in a change of accounting methodology to fair value. Nine Months Ended March 31, 2020 Non-marketable securities Marketable securities Equity method investments Total Balance at the beginning of the period $ 30,436 $ - $ 21,667 $ 52,103 Investments 14,116 - 17,500 31,616 Impairment of investments ( 14,519 ) - - ( 14,519 ) Loss attributable to equity method investments - - ( 19,082 ) ( 19,082 ) Carrying value at the end of the period $ 30,033 $ - $ 20,085 $ 50,118

Product Warranties (Tables)

Product Warranties (Tables)	9 Months Ended
	Mar. 31, 2021
Product Warranties [Abstract]
Schedule Of Changes In Liability For Warranty Costs	Nine Months Ended March 31, 2021 2020 Balance at the beginning of the period $ 21,132 $ 19,625 Warranty accruals for the period 11,521 10,879 Warranty costs incurred for the period ( 11,253 ) ( 9,620 ) Foreign currency translation adjustments 1,566 ( 1,650 ) Balance at the end of the period $ 22,966 $ 19,234

Debt (Tables)

Debt (Tables)	9 Months Ended
	Mar. 31, 2021
Debt [Abstract]
Schedule Of Debt	March 31, 2021 June 30, 2020 Short-term debt $ 12,000 $ 12,000 Deferred borrowing costs ( 10 ) ( 13 ) Short-term debt, net 11,990 11,987 - Long-term debt $ 722,000 $ 1,168,000 Deferred borrowing costs ( 2,954 ) ( 3,867 ) Long-term debt, net $ 719,046 $ 1,164,133 Total debt $ 731,036 $ 1,176,120

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Mar. 31, 2021
Earnings (Loss) Per Share [Abstract]
Schedule Of Basic And Diluted Earnings Per Share	Three Months Ended March 31, Nine Months Ended March 31, 2021 2020 2021 2020 Numerator: Net income (loss) $ ( 78,481 ) $ 163,137 $ 279,405 $ 443,839 Denominator: Basic weighted-average common shares outstanding 145,513 144,638 145,217 144,112 Effect of dilutive securities: Stock options and restricted stock units - 1,042 1,177 1,378 Diluted weighted average shares 145,513 145,680 146,394 145,490 Basic earnings (loss) per share $ ( 0.54 ) $ 1.13 $ 1.92 $ 3.08 Diluted earnings (loss) per share $ ( 0.54 ) $ 1.12 $ 1.91 $ 3.05

Summary Of Significant Accoun_4

Summary Of Significant Accounting Policies (Narrative) (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of operating segments | segment	2
Adjustment to retained earnings	$ 2,709,234	$ 2,864,984	$ 2,678,860	$ 2,497,027	$ 2,256,431	$ 2,258,106	$ 2,117,251	$ 2,072,193
Retained Earnings [Member]
Summary Of Significant Accounting Policies [Line Items]
Adjustment to retained earnings	$ 2,941,336	$ 3,076,569	2,953,709	2,832,991	$ 2,711,639	$ 2,604,910	$ 2,500,506	$ 2,436,410
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue recognized, term	1 year
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue recognized, term	5 years
Cumulative Effect Of Change In Accounting Standards [Member]
Summary Of Significant Accounting Policies [Line Items]
Adjustment to retained earnings			(1,143)
Cumulative Effect Of Change In Accounting Standards [Member] | Retained Earnings [Member]
Summary Of Significant Accounting Policies [Line Items]
Adjustment to retained earnings			$ (1,143)
Cumulative Effect Of Change In Accounting Standards [Member] | Accounting Standards Update 2016-13 [Member]
Summary Of Significant Accounting Policies [Line Items]
Adjustment to retained earnings				$ 1,100

Summary Of Significant Accoun_5

Summary Of Significant Accounting Policies (Summary Of Net Revenue Disaggregated By Product And Region) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Net revenue	$ 768,767	$ 769,455	$ 2,320,722	$ 2,186,669
Software As A Service [Member]
Disaggregation of Revenue [Line Items]
Net revenue	93,836	89,560	277,813	263,156
U.S., Canada And Latin America [Member]
Disaggregation of Revenue [Line Items]
Net revenue	496,717	483,109	1,510,607	1,434,964
U.S., Canada And Latin America [Member] | Devices [Member]
Disaggregation of Revenue [Line Items]
Net revenue	192,897	196,497	595,287	586,907
U.S., Canada And Latin America [Member] | Masks And Other [Member]
Disaggregation of Revenue [Line Items]
Net revenue	209,984	197,052	637,507	584,901
U.S., Canada And Latin America [Member] | Sleep And Respiratory Care [Member]
Disaggregation of Revenue [Line Items]
Net revenue	402,881	393,549	1,232,794	1,171,808
U.S., Canada And Latin America [Member] | Software As A Service [Member]
Disaggregation of Revenue [Line Items]
Net revenue	93,836	89,560	277,813	263,156
Combined Europe, Asia And Other Markets [Member] | Devices [Member]
Disaggregation of Revenue [Line Items]
Net revenue	172,838	195,038	536,856	509,274
Combined Europe, Asia And Other Markets [Member] | Masks And Other [Member]
Disaggregation of Revenue [Line Items]
Net revenue	99,212	91,308	273,259	242,431
Combined Europe, Asia And Other Markets [Member] | Sleep And Respiratory Care [Member]
Disaggregation of Revenue [Line Items]
Net revenue	272,050	286,346	810,115	751,705
Global [Member]
Disaggregation of Revenue [Line Items]
Net revenue	768,767	769,455	2,320,722	2,186,669
Global [Member] | Devices [Member]
Disaggregation of Revenue [Line Items]
Net revenue	365,735	391,535	1,132,143	1,096,181
Global [Member] | Masks And Other [Member]
Disaggregation of Revenue [Line Items]
Net revenue	309,196	288,360	910,766	827,332
Global [Member] | Sleep And Respiratory Care [Member]
Disaggregation of Revenue [Line Items]
Net revenue	674,931	679,895	2,042,909	1,923,513
Global [Member] | Software As A Service [Member]
Disaggregation of Revenue [Line Items]
Net revenue	$ 93,836	$ 89,560	$ 277,813	$ 263,156

Summary Of Significant Accoun_6

Summary Of Significant Accounting Policies (Summary Of Contract Balances) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Contract assets
Accounts receivable, net	$ 525,014	$ 474,643
Contract liabilities
Deferred revenue, current	(105,342)	(98,617)
Deferred revenue, non-current	(86,898)	(87,307)
Accounts Receivable, Net [Member]
Contract assets
Accounts receivable, net	525,014	474,643
Prepaid Expenses And Other Current Assets [Member]
Contract assets
Unbilled revenue, current	12,540	9,452
Prepaid Taxes And Other Non Current Assets [Member]
Contract assets
Unbilled revenue, non-current	5,404	6,957
Deferred Revenue Current Liabilities [Member]
Contract liabilities
Deferred revenue, current	(105,342)	(98,617)
Deferred Revenue Non-Current Liabilities [Member]
Contract liabilities
Deferred revenue, non-current	$ (86,898)	$ (87,307)

Summary Of Significant Accoun_7

Summary Of Significant Accounting Policies (Schedule Of Components Of Lease Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Summary Of Significant Accounting Policies [Abstract]
Sales-type lease revenue	$ 2,031	$ 3,784	$ 5,854	$ 9,110
Operating lease revenue	22,746	22,720	72,551	65,672
Total lease revenue	$ 24,777	$ 26,504	$ 78,405	$ 74,782

Segment Information (Narrative)

Segment Information (Narrative) (Details)	9 Months Ended
	Mar. 31, 2021segment
Segment Information [Abstract]
Number of operating segments	2

Segment Information (Summary Of

Segment Information (Summary Of Revenue By Segment And Reconciling Items) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 768,767	$ 769,455	$ 2,320,722	$ 2,186,669
Depreciation and amortization		39,988	39,264	120,034	116,341
Net operating profit by segment		223,426	217,500	662,040	586,412
Amortization of acquired intangible assets and corporate assets		7,445	8,272	23,377	21,872
Litigation settlement expenses					(600)
Restructuring expenses				8,673
Interest income		(55)	(116)	(303)	(766)
Interest expense (income), net		5,878	9,968	18,644	31,180
Loss attributable to equity method investments		(4,969)	(5,295)	(9,895)	(19,082)
Other, net		5,371	(10,698)	10,647	(15,922)
Income before income taxes		218,005	191,655	644,451	520,994
Impairment of operating lease right-of-use asset		0		2,800
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net operating profit by segment	[1]	276,745	268,947	834,463	742,342
Corporate Costs [Member]
Segment Reporting Information [Line Items]
Amortization of acquired intangible assets and corporate assets		24,908	24,105	76,456	70,485
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Deferred revenue fair value adjustment	[2]				(2,102)
Corporate costs		34,950	31,039	106,307	94,933
Amortization of acquired intangible assets and corporate assets		18,369	20,408	57,443	59,495
Restructuring expenses				8,673
Deferred revenue fair value adjustment	[2]				2,102
Interest expense (income), net		5,823	9,852	18,341	30,414
Loss attributable to equity method investments		4,969	5,295	9,895	19,082
Other, net		(5,371)	10,698	(10,647)	15,922
Income before income taxes		218,005	191,655	644,451	520,994
Sleep And Respiratory Care [Member]
Segment Reporting Information [Line Items]
Impairment of operating lease right-of-use asset				1,600
Sleep And Respiratory Care [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		674,931	679,895	2,042,909	1,923,513
Depreciation and amortization		13,589	14,134	39,979	43,012
Net operating profit by segment	[1]	253,693	250,209	763,534	678,468
Software As A Service Before Deferred Revenue Adjustment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		93,836	89,560	277,813	265,258
Software As A Service [Member]
Segment Reporting Information [Line Items]
Impairment of operating lease right-of-use asset				1,200
Software As A Service [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Deferred revenue fair value adjustment	[2]				(2,102)
Revenue from Contract with Customer, Excluding Assessed Tax		93,836	89,560	277,813	263,156
Depreciation and amortization		1,491	1,025	3,599	2,844
Net operating profit by segment	[1]	$ 23,052	$ 18,738	$ 70,929	63,874
Deferred revenue fair value adjustment	[2]				$ 2,102
[1]	During the three and nine months ended March 31, 2021, we recorded $ 0.0 million and $ 2.8 million of impairment for our operating lease right-of-use asset, respectively. The impairment related to leases for office space and was recorded within net operating profit. The impairment for the nine months ended March 31, 2021 attributable to Sleep and Respiratory Care was $ 1.6 million and $ 1.2 million for SaaS .
[2]	The deferred revenue fair value adjustment is a purchase price accounting adjustment related to MatrixCare which was acquired on November 13, 2018.

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Supplemental Balance Sheet Information [Abstract]
Raw materials	$ 145,444	$ 128,096
Work in progress	3,750	2,807
Finished goods	334,867	286,012
Total inventories	$ 484,061	$ 416,915

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information (Components Of Property, Plant And Equipment) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Supplemental Balance Sheet Information [Abstract]
Property, plant and equipment, at cost	$ 1,056,004	$ 969,166
Accumulated depreciation and amortization	(600,898)	(551,831)
Property, plant and equipment, net	$ 455,106	$ 417,335

Supplemental Balance Sheet In_5

Supplemental Balance Sheet Information (Schedule Of Other Intangible Assets, Net) (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2021	Jun. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Total other intangibles, net	$ 409,559	$ 448,168
Developed/Core Product Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangibles, gross	383,124	382,806
Accumulated amortization	(227,793)	(197,670)
Total other intangibles, net	155,331	185,136
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangibles, gross	278,196	279,370
Accumulated amortization	(91,550)	(80,922)
Total other intangibles, net	186,646	198,448
Other Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangibles, gross	196,415	177,091
Accumulated amortization	(128,833)	(112,507)
Total other intangibles, net	$ 67,582	$ 64,584
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	9 Months Ended
	Mar. 31, 2021USD ($)
Balance at the beginning of the period	$ 1,890,324
Business acquisitions	24,202
Foreign currency translation adjustments	11,465
Balance at the end of the period	1,925,991
Sleep And Respiratory Care [Member]
Balance at the beginning of the period	614,448
Business acquisitions	4,707
Foreign currency translation adjustments	11,465
Balance at the end of the period	630,620
Saas [Member]
Balance at the beginning of the period	1,275,876
Business acquisitions	19,495
Foreign currency translation adjustments
Balance at the end of the period	$ 1,295,371

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2020
Investments [Abstract]
Net unrealized gains (losses)	$ (4,700)	$ (9,100)	$ 9,400	$ (14,500)
Aggregate carrying amount of equity investments	23,002		23,002		$ 30,033
Impairment losses related to equity investments			(9,442)	$ 14,519
Carrying value of equity method investments	$ 16,714		$ 16,714		$ 14,109

Investments (Schedule Of Invest

Investments (Schedule Of Investments) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Investments [Abstract]
Fair value	$ 24,011
Measurement alternative	23,002	$ 30,033
Equity method	16,714	14,109
Total	$ 63,727	$ 44,142

Investments (Schedule Of Change

Investments (Schedule Of Changes In Equity Investments) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Balance at the beginning of the period				$ 44,142	$ 52,103
Investments				20,038	31,616
Observable price adjustments on non-marketable equity securities				1,000
Ongoing mark-to-market adjustments on marketable equity securities				8,442
Reclassifications	[1]
Impairment of investments					(14,519)
Loss attributable to equity method investments		$ (4,969)	$ (5,295)	(9,895)	(19,082)
Carrying value at the end of the period		63,727	50,118	63,727	50,118
Non-marketable Securities [Member]
Balance at the beginning of the period				30,033	30,436
Investments				2,538	14,116
Observable price adjustments on non-marketable equity securities				1,000
Ongoing mark-to-market adjustments on marketable equity securities
Reclassifications	[1]			(10,569)
Impairment of investments					(14,519)
Loss attributable to equity method investments
Carrying value at the end of the period		23,002	30,033	23,002	30,033
Marketable Securities [Member]
Balance at the beginning of the period
Investments				5,000
Observable price adjustments on non-marketable equity securities
Ongoing mark-to-market adjustments on marketable equity securities				8,442
Reclassifications	[1]			10,569
Impairment of investments
Loss attributable to equity method investments
Carrying value at the end of the period		24,011		24,011
Equity Method Investments [Member]
Balance at the beginning of the period				14,109	21,667
Investments				12,500	17,500
Observable price adjustments on non-marketable equity securities
Ongoing mark-to-market adjustments on marketable equity securities
Reclassifications	[1]
Impairment of investments
Loss attributable to equity method investments				(9,895)	(19,082)
Carrying value at the end of the period		$ 16,714	$ 20,085	$ 16,714	$ 20,085
[1]	During the nine months ended March 31, 2021, one of our investments, which was previously accounted for under the measurement alternative, completed its initial public offering which resulted in a change of accounting methodology to fair value.

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2020
Income Taxes [Line Items]
Effective income tax rate	136.00%	14.90%	56.60%	14.80%
Reduction in income tax expense (benefit)	$ 600	$ 2,400	$ 12,600	$ 24,800
Income taxes payable	314,795		314,795		$ 64,755
Income taxes paid			180,307	150,801
Income tax expense (benefit)	296,486	$ 28,518	365,046	$ 77,155
Prepaid taxes	98,800		98,800
Recognized benefit of interest and penalties related to uncertain tax positions income tax expense, net of tax benefit			114,300
Tax Year 2009 To 2013 [Member]
Income Taxes [Line Items]
Tax liabilities related to assessments			266,000
Income tax expense (benefit)			151,700
Tax Year 2014 To 2018 [Member]
Income Taxes [Line Items]
Unrecognized tax positions	254,800		254,800
Recognized benefit of interest and penalties related to uncertain tax positions income tax expense	53,300		53,300
Income tax liability due to possible settlement	395,900		395,900
Tax credits and deductions	$ 141,100		$ 141,100

Product Warranties (Schedule Of

Product Warranties (Schedule Of Changes In Liability For Warranty Costs) (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Product Warranties [Abstract]
Balance at the beginning of the period	$ 21,132	$ 19,625
Warranty accruals for the period	11,521	10,879
Warranty costs incurred for the period	(11,253)	(9,620)
Foreign currency translation adjustments	1,566	(1,650)
Balance at the end of the period	$ 22,966	$ 19,234

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	Nov. 05, 2018	Apr. 17, 2018	Mar. 31, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Debt to consolidated EBITDA ratio			3.50
Outstanding debt			$ 731,036,000	$ 1,176,120,000
Senior notes, carrying amount			500,000,000
Outstanding loan balance			719,046,000	1,164,133,000
Revolving Credit Facility And Term Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term debt, fair value			234,000,000	$ 680,000,000
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
Available for draw			$ 1,500,000,000
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			1.00%
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			$ 519,300,000
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
Revolving Credit Agreement, Term Credit Agreement, And Senior Notes [Member]
Debt Instrument [Line Items]
Outstanding debt			$ 734,000,000

Debt (Schedule Of Debt) (Detail

Debt (Schedule Of Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Debt [Abstract]
Short-term debt	$ 12,000	$ 12,000
Deferred borrowing costs	(10)	(13)
Short-term debt, net	11,990	11,987
Long-term debt	722,000	1,168,000
Deferred borrowing costs	(2,954)	(3,867)
Long-term debt, net	719,046	1,164,133
Total debt	$ 731,036	$ 1,176,120

Earnings (Loss) Per Share (Narr

Earnings (Loss) Per Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Earnings (Loss) Per Share [Abstract]
Potentially dilutive common shares excluded	857,799
Stock options and restricted stock units not included in the computation of diluted earnings per share	225,580,000	267,556,000	200,341,000	128,789,000

Earnings (Loss) Per Share (Sche

Earnings (Loss) Per Share (Schedule Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net income (loss)	$ (78,481)	$ 179,514	$ 178,372	$ 163,137	$ 160,554	$ 120,148	$ 279,405	$ 443,839
Denominator:
Basic weighted-average common shares outstanding	145,513			144,638			145,217	144,112
Effect of dilutive securities:
Stock options and restricted stock units				1,042			1,177	1,378
Diluted weighted average shares	145,513			145,680			146,394	145,490
Basic earnings (loss) per share	$ (0.54)			$ 1.13			$ 1.92	$ 3.08
Diluted earnings (loss) per share	$ (0.54)			$ 1.12			$ 1.91	$ 3.05

Legal Actions And Contingenci_2

Legal Actions And Contingencies (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2020
Loss Contingencies [Line Items]
Income taxes payable	$ 314,795		$ 64,755
Contingent Obligations Under Recourse Provisions [Member]
Loss Contingencies [Line Items]
Receivables sold with limited recourse	112,200	$ 99,800
Maximum potential contingent liability	26,500		22,800
Contingent provision	7,900		$ 6,600
Tax Year 2009 To 2013 [Member]
Loss Contingencies [Line Items]
Tax liabilities related to assessments	$ 266,000

Restructuring Expenses (Narrati

Restructuring Expenses (Narrative) (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2021USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	$ 8,673
Portable Oxygen Concentrator Business Closure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	13,900
Inventory write-downs	5,200
Accelerated amortization	5,100
Asset impairments	2,300
Employee-related costs	700
Contract cancellation costs	600
Cost of sales	5,200
Restructuring expenses	$ 8,700