ResMed (RMD) 10-K 16 Aug 21 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2021	Aug. 12, 2021	Dec. 31, 2020
Document And Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		145,681
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--06-30
Entity Public Float			$ 30,662,112,869
Entity Central Index Key	0000943819

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Current assets:
Cash and cash equivalents	$ 295,278	$ 463,156
Accounts receivable, net of allowances of $32,138 and $28,508 at June 30, 2021 and June 30, 2020, respectively	614,292	474,643
Inventories (note 4)	457,033	416,915
Prepaid taxes	72,409	93,484
Prepaid expenses and other current assets	135,745	75,261
Total current assets	1,574,757	1,523,459
Non-current assets:
Property, plant and equipment, net (note 4)	463,490	417,335
Operating lease right-of-use assets (note 10)	128,575	118,348
Goodwill (note 5)	1,927,901	1,890,324
Other intangible assets, net (note 5)	392,582	448,168
Deferred income taxes (note 14)	79,904	41,065
Prepaid taxes and other non-current assets	160,916	148,677
Total non-current assets	3,153,368	3,063,917
Total assets	4,728,125	4,587,376
Current liabilities:
Accounts payable	138,008	135,786
Accrued expenses (note 7)	320,599	270,353
Operating lease liabilities, current (note 10)	23,585	21,263
Deferred revenue	109,611	98,617
Income taxes payable (note 14)	307,963	64,755
Short-term debt, net (note 9)	12,000	11,987
Total current liabilities	911,766	602,761
Non-current liabilities:
Deferred revenue	91,496	87,307
Deferred income taxes (note 14)	11,319	13,011
Operating lease liabilities, non-current (note 10)	114,779	101,880
Other long-term liabilities	6,802	8,347
Long-term debt, net (note 9)	643,351	1,164,133
Long-term income taxes payable (note 14)	62,933	112,910
Total non-current liabilities	930,680	1,487,588
Total liabilities	1,842,446	2,090,349
Commitments and contingencies (note 17)
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; 187,484,592 issued and 145,648,358 outstanding at June 30, 2021 and 186,723,407 issued and 144,887,175 outstanding at June 30, 2020	583	580
Additional paid-in capital	1,622,199	1,570,694
Retained earnings	3,079,640	2,832,991
Treasury stock, at cost, 41,836,234 shares at June 30, 2021 and June 30, 2020	(1,623,256)	(1,623,256)
Accumulated other comprehensive loss	(193,487)	(283,982)
Total stockholders' equity	2,885,679	2,497,027
Total liabilities and stockholders' equity	$ 4,728,125	$ 4,587,376

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Consolidated Balance Sheets [Abstract]
Accounts receivable, net allowance for doubtful accounts	$ 32,138	$ 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	187,484,592	186,723,407
Common stock, shares outstanding	145,648,358	144,887,175
Treasury stock, shares held	41,836,234	41,836,234

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) shares in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Net revenue	$ 3,196,825,000	$ 2,957,013,000	$ 2,606,572,000
Cost of sales (exclusive of amortization shown separately below)	1,312,598,000	1,189,624,000	1,069,987,000
Amortization of acquired intangible assets	45,127,000	49,603,000	42,514,000
Total cost of sales	1,357,725,000	1,239,227,000	1,112,501,000
Gross profit	1,839,100,000	1,717,786,000	1,494,071,000
Operating expenses:
Selling, general and administrative	670,387,000	676,689,000	645,010,000
Research and development	225,284,000	201,946,000	180,651,000
Amortization of acquired intangible assets	31,078,000	30,092,000	32,424,000
Restructuring expenses (note 19)	8,673,000		9,401,000
Litigation settlement expenses (note 20)		(600,000)	41,199,000
Acquisition related expenses (note 18)			6,123,000
Total operating expenses	935,422,000	908,127,000	914,808,000
Income from operations	903,678,000	809,659,000	579,263,000
Other income (loss), net:
Interest income	362,000	1,021,000	2,299,000
Interest expense	(23,989,000)	(40,377,000)	(36,156,000)
Loss attributable to equity method investments (note 6)	(11,205,000)	(25,058,000)	(15,833,000)
Other, net (note 13)	14,816,000	(12,157,000)	(10,726,000)
Total other income (loss), net	(20,016,000)	(76,571,000)	(60,416,000)
Income before income taxes	883,662,000	733,088,000	518,847,000
Income taxes (note 14)	409,157,000	111,414,000	114,255,000
Net income	$ 474,505,000	$ 621,674,000	$ 404,592,000
Basic earnings per share (note 12)	$ 3.27	$ 4.31	$ 2.83
Diluted earnings per share (note 12)	3.24	4.27	2.80
Dividend declared per share	$ 1.56	$ 1.56	$ 1.48
Basic shares outstanding (000's)	145,313	144,338	143,111
Diluted shares outstanding (000's)	146,451	145,652	144,484
Sleep And Respiratory Care [Member]
Net revenue	$ 2,823,235,000	$ 2,602,381,000	$ 2,330,783,000
Cost of sales (exclusive of amortization shown separately below)	1,177,309,000	1,067,967,000	977,223,000
Amortization of acquired intangible assets	4,895,000	8,584,000	8,591,000
Software As A Service [Member]
Net revenue	373,590,000	354,632,000	275,789,000
Cost of sales (exclusive of amortization shown separately below)	135,289,000	121,657,000	92,764,000
Amortization of acquired intangible assets	$ 40,232,000	$ 41,019,000	$ 33,923,000

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Consolidated Statements Of Comprehensive Income [Abstract]
Net income	$ 474,505	$ 621,674	$ 404,592
Other comprehensive (loss) income:
Foreign currency translation (loss) gain adjustments	90,495	(30,973)	(28,681)
Comprehensive income	$ 565,000	$ 590,701	$ 375,911

Consolidated Statements Of Chan

Consolidated Statements Of Changes In Equity - USD ($) $ in Thousands	Common Stock [Member]Cumulative Effect Of Change In Accounting Standards [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]Cumulative Effect Of Change In Accounting Standards [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]Cumulative Effect Of Change In Accounting Standards [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]	Accumulated Other Comprehensive Income (Loss) [Member]	Cumulative Effect Of Change In Accounting Standards [Member]	Total
Beginning balance at Jun. 30, 2018		$ 571		$ 1,450,821		$ (1,600,412)		$ 2,432,328		$ (224,328)		$ 2,058,980
Beginning balance, shares at Jun. 30, 2018		184,316,000				(41,636,000)
Common stock issued on exercise of options (note 11)		$ 1		12,329								12,330
Common stock issued on exercise of options (note 11), shares		252,000
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (note 11)		$ 3		(28,104)								(28,101)
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (note 11), shares		638,000
Common stock issued on employee stock purchase plan (note 11)		$ 1		24,364								$ 24,365
Common stock issued on employee stock purchase plan (note 11), shares		285,000										285,000
Treasury stock purchases		$ (1)				$ (22,844)						$ (22,845)
Treasury stock purchases, shares						(200,000)
Stock-based compensation costs				52,063								52,063
Other comprehensive income (loss)										(28,681)		(28,681)
Net income (loss)								404,592				404,592
Dividends declared								(211,712)				(211,712)
Ending balance at Jun. 30, 2019		$ 575		1,511,473		$ (1,623,256)	$ (188,798)	2,436,410		(253,009)	$ (188,798)	2,072,193
Ending balance, shares at Jun. 30, 2019		185,491,000				(41,836,000)
Common stock issued on exercise of options (note 11)		$ 1		19,986								19,987
Common stock issued on exercise of options (note 11), shares		350,000
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (note 11)		$ 3		(46,061)								(46,058)
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (note 11), shares		617,000
Common stock issued on employee stock purchase plan (note 11)		$ 1		28,196								$ 28,197
Common stock issued on employee stock purchase plan (note 11), shares		265,000										265,000
Stock-based compensation costs				57,100								$ 57,100
Other comprehensive income (loss)										(30,973)		(30,973)
Net income (loss)								621,674				621,674
Dividends declared								(225,093)				(225,093)
Ending balance at Jun. 30, 2020		$ 580		1,570,694		$ (1,623,256)		2,832,991		(283,982)		2,497,027
Ending balance, shares at Jun. 30, 2020		186,723,000				(41,836,000)
Common stock issued on exercise of options (note 11)				3,954								$ 3,954
Common stock issued on exercise of options (note 11), shares		64,000										64,000
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (note 11)		$ 2		(50,209)								$ (50,207)
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (note 11), shares		469,000
Common stock issued on employee stock purchase plan (note 11)		$ 1		33,833								$ 33,834
Common stock issued on employee stock purchase plan (note 11), shares		229,000										229,000
Stock-based compensation costs				63,927								$ 63,927
Other comprehensive income (loss)										90,495		90,495
Net income (loss)								474,505				474,505
Dividends declared								(226,713)				(226,713)
Ending balance at Jun. 30, 2021		$ 583		$ 1,622,199		$ (1,623,256)	$ (1,143)	$ 3,079,640		$ (193,487)	$ (1,143)	$ 2,885,679
Ending balance, shares at Jun. 30, 2021		187,485,000				(41,836,000)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 474,505	$ 621,674	$ 404,592
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	156,758	154,850	150,795
Amortization of right-of-use-assets	34,760	26,523
Stock-based compensation costs (note 11)	63,927	57,559	52,073
Loss attributable to equity method investments (note 6)	11,205	25,058	15,833
(Gain) loss on equity investments (note 6)	(14,515)	14,519	15,007
Restructuring expenses (note 19)	8,673		9,401
Gain on previously held equity interest			(1,909)
Changes in fair value of business combination contingent consideration		(7)	(286)
Changes in operating assets and liabilities:
Accounts receivable	(129,195)	54,383	(18,013)
Inventories	(21,954)	(69,881)	(84,188)
Prepaid expenses, net deferred income taxes and other current assets	(58,154)	(58,999)	(47,575)
Accounts payable, accrued expenses and other	210,708	(23,424)	(27,278)
Net cash provided by operating activities	736,718	802,255	459,051
Cash flows from investing activities:
Purchases of property, plant and equipment	(102,712)	(95,330)	(68,710)
Patent registration costs	(14,114)	(10,608)	(8,632)
Business acquisitions, net of cash acquired	(39,067)	(27,910)	(951,383)
Purchases of investments (note 6)	(21,788)	(31,616)	(46,717)
Proceeds on maturity of foreign currency contracts	19,219	(14,397)	(264)
Net cash used in investing activities	(158,462)	(179,861)	(1,075,706)
Cash flows from financing activities:
Proceeds from issuance of common stock, net	37,790	48,182	36,727
Taxes paid related to net share settlement of equity awards	(50,209)	(46,061)	(28,104)
Purchases of treasury stock			(22,844)
Payments of business combination contingent consideration	(3,500)	(302)	(909)
Proceeds from borrowings, net of borrowing costs	90,000	1,190,000	1,519,230
Repayment of borrowings	(612,000)	(1,284,012)	(711,745)
Dividends paid	(226,713)	(225,093)	(211,712)
Net cash used in financing activities	(764,632)	(317,286)	580,643
Effect of exchange rate changes on cash	18,498	10,920	(5,561)
Net increaase (decrease) in cash and cash equivalents	(167,878)	316,028	(41,573)
Cash and cash equivalents at beginning of period	463,156	147,128	188,701
Cash and cash equivalents at end of period	295,278	463,156	147,128
Supplemental disclosure of cash flow information:
Income taxes paid, net of refunds	221,359	180,359	242,860
Interest paid	23,989	40,377	36,156
Fair value of assets acquired, excluding cash	16,671	14,919	429,522
Liabilities assumed	(1,543)	(4,292)	(265,217)
Goodwill on acquisition	24,671	20,375	794,320
Deferred payments	(3,768)	(408)	7,242
Fair value of contingent consideration		(3,500)
Cash paid for acquisitions	$ 43,567	$ 27,910	$ 951,383

Organization And Basis Of Prese

Organization And Basis Of Presentation	12 Months Ended
	Jun. 30, 2021
Organization And Basis Of Presentation [Abstract]
Organization And Basis Of Presentation	(1) Organization and Basis of Presentation ResMed Inc. (referred to herein as “we”, “us”, “our” or the “Company”) is a Delaware corporation formed in March 1994 as a holding company for the ResMed Group. Through our subsidiaries, we design, manufacture and market equipment for the diagnosis and treatment of sleep-disordered breathing and other respiratory disorders, including obstructive sleep apnea. Our manufacturing operations are located in Australia, 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.

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2021
Summary Of Significant Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	(2) Summary of Significant Accounting Policies (a) Basis of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant inter-company transactions and balances have been eliminated in consolidation. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management estimates and assumptions that affect amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from management’s estimates. (b) Revenue Recognition 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 See note 15 – Segment Information for our net revenue disaggregated by segment, product and region for the years ended June 30, 2021, 2020 and 2019. 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 as of June 30, 2021 and 2020 (in thousands): 2021 2020 Balance sheet caption Contract assets Accounts receivable, net $ 614,292 $ 474,643 Accounts receivable, net Unbilled revenue, current 10,893 9,452 Prepaid expenses and other current assets Unbilled revenue, non-current 6,214 6,957 Prepaid taxes and other non-current assets Contract liabilities Deferred revenue, current ( 109,611 ) ( 98,617 ) Deferred revenue (current liabilities) Deferred revenue, non-current ( 91,496 ) ( 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 adopted two practical expedients including the “right to invoice” practical expedient, which allows us to recognize revenue in the amount of the invoice when it corresponds directly with the value of performance completed to date and which is relevant for some of our SaaS contracts. 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. (c) Concentration of Credit Risk and Significant Customers Financial instruments that are potentially subject to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, derivatives and trade receivables. Our cash and cash equivalents are generally held with large, diverse financial institutions to reduce the amount of exposure to any single financial institution. Our derivative contracts are transacted with various financial institutions with high credit standings and any exposure to counterparty credit-related losses in these contracts is largely mitigated with collateralization and master-netting agreements. The risk with respect to trade receivables is mitigated by credit evaluations we perform on our customers, the short duration of our payment terms for the significant majority of our customer contracts and by the diversification of our customer base. No single customer accounted for 10% or more of our total revenues for any of the periods presented. (d) Fair Value of Financial Instruments The fair value of financial instruments is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We measure our financial instruments at fair value at each reporting period using a fair value hierarchy that requires that we maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Three levels of inputs may be used to measure fair value: Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Other inputs that are directly or indirectly observable in the marketplace. Level 3 - Unobservable inputs that are supported by little or no market activity. The carrying value of cash equivalents, accounts receivable and accounts payable, approximate their fair value because of their short-term nature. The carrying value of long-term debt related to our Revolving Credit and Term Credit Agreements approximates its fair value as the principal amounts outstanding are subject to variable interest rates that are based on market rates which are regularly reset. The carrying value of long-term debt related to our Senior Notes can differ to its fair value as the principal amounts outstanding are subject to fixed interest rates as outlined in note 9 - Debt. Foreign currency hedging instruments are marked to market and therefore reflect their fair value. In addition, we measure investments in publicly held equity securities and privately held equity securities for which there has been an observable price change in an identical or similar security, at fair value. We do not hold or issue financial instruments for trading purposes. (e) Cash and Cash Equivalents Cash equivalents include certificates of deposit and other highly liquid investments and we state them at cost, which approximates market. We consider investments with original maturities of 90 days or less to be cash equivalents for purposes of the consolidated statements of cash flows. (f) Inventories We state inventories at the lower of cost (determined principally by the first-in, first-out method) or net realizable value. We include material, labor and manufacturing overhead costs in finished goods and work-in-process inventories. We review and provide for any product obsolescence in our manufacturing and distribution operations by assessing throughout the year individual products and components (based on estimated future usage and sales). ( g) Property, Plant and Equipment We record property, plant and equipment, including rental and demonstration equipment at cost. We compute depreciation expense using the straight-line method over the estimated useful lives of the assets. Useful lives are generally two years to ten years except for buildings which are depreciated over an estimated useful life of 40 years and leasehold improvements, which we amortize over the shorter of the useful life or the lease term. We charge maintenance and repairs to expense as we incur them. Depreciation expense for property, plant, and equipment was $ 78.4 million, $ 65.6 million, and $ 65.9 million for the years ended June 30, 2021, 2020 and 2019, respectively. (h) Intangible Assets We capitalize the registration costs for new patents and amortize the costs over the estimated useful life of the patent, which is generally ten years. If a patent is superseded or a product is retired, any unamortized costs are written off immediately. We amortize all of our other intangible assets on a straight-line basis over their estimated useful lives, which range from two years to fifteen years . We take into account events or circumstances that warrant revised estimates of useful lives or that indicate that impairment exists and, at least annually, evaluate the recoverability of intangible assets. We have no t identified any impairment of intangible assets during any of the periods presented. (i) Goodwill We conduct our annual review for goodwill impairment during the final quarter of the fiscal year. Our goodwill impairment review is performed at our reporting unit level, which is one level below our operating segments and involves the following steps: Step 0 or Qualitative assessment – Evaluate qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. The factors we consider include, but are not limited to, macroeconomic conditions, industry and market considerations, cost factors, overall financial performance or events-specific to that reporting unit. If or when we determine it is more likely than not that the fair value of a reporting unit is less than the carrying amount, including goodwill, we would move to Step 1 of the quantitative method. Step 1 – Compare the fair value for each reporting unit to its carrying value, including goodwill. Fair value is determined based on estimated discounted cash flows. A goodwill impairment charge is recognized for the amount that the carrying amount of a reporting unit, including goodwill, exceeds its fair value, limited to the total amount of goodwill allocated to that reporting unit. If a reporting unit’s fair value exceeds the carrying value, no further work is performed and no impairment charge is necessary. During the annual reviews for the years ended June 30, 2021, 2020 and 2019, we completed a Step 0 or Qualitative assessment and determined it was more likely than not that the fair value of our reporting units exceeded their carrying amounts, including goodwill, and therefore goodwill was no t impaired. (j) Equity investments We have equity investments in privately and publicly held companies that are unconsolidated entities. The following discusses our accounting for investments in marketable equity securities, non-marketable equity securities, and investments 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 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 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 assess non-marketable equity securities at least quarterly for impairment and consider qualitative and quantitative factors including the investee's financial metrics, product and commercial outlook and cash usage . All gains and losses on marketable and non-marketable equity securities, realized and unrealized, are recognized in other, net on the 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 consolidated statements of operations. (k) Research and Development We record all research and development expenses in the period we incur them. (l) Foreign Currency The consolidated financial statements of our non-U.S. subsidiaries, whose functional currencies are other than the U.S. dollar, are translated into U.S. dollars for financial reporting purposes. We translate assets and liabilities of non-U.S. subsidiaries whose functional currencies are other than the U.S. dollar at period end exchange rates, but translate revenue and expense transactions at average exchange rates for the period. We recognize cumulative translation adjustments as part of comprehensive income, as detailed in the consolidated statements of comprehensive income, and include those adjustments in accumulated other comprehensive income in the consolidated balance sheets until such time the relevant subsidiary is sold or substantially or completely liquidated. We reflect gains and losses on transactions denominated in other than the functional currency of an entity in our results of operations. (m) Foreign Exchange Risk Management We transact business in various foreign currencies, including a number of major European currencies as well as the Australian and Singapore dollars. We have significant foreign currency exposure through both our Australian and Singaporean manufacturing activities, and international sales operations. We have established a foreign currency hedging program using purchased currency options and forward contracts to hedge foreign-currency-denominated financial assets, liabilities and manufacturing cash flows. The terms of such foreign currency hedging contracts generally do not exceed three years. The goal of this hedging program is to economically manage the financial impact of foreign currency exposures denominated mainly in Euros, Australian and Singapore dollars. Under this program, increases or decreases in our foreign currency denominated financial assets, liabilities, and firm commitments are partially offset by gains and losses on the hedging instruments. We do not designate these foreign currency contracts as hedges. We have determined our hedge program to be a non-effective hedge as defined under the FASB issued authoritative guidance. All movements in the fair value of the foreign currency instruments are recorded within other income, net in our consolidated statements of income and through changes in our operating assets and liabilities within our consolidated statements of cash flows. We classify purchases of foreign currency derivatives and proceeds received from the exercise of foreign currency derivatives as an investing activity within our consolidated statements of cash flows. We do not enter into financial instruments for trading or speculative purposes. We held foreign currency instruments with notional amounts totaling $ 556.4 million and $ 495.2 million at June 30, 2021 and June 30, 2020, respectively, to hedge foreign currency fluctuations. These contracts mature at various dates prior to June 30, 2023. (n) Income Taxes We account for income taxes under the asset and liability method. We recognize deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. We measure deferred tax assets and liabilities using the enacted tax rates we expect to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. We recognize the impact of a tax position in the consolidated financial statements only if that position is more likely than not of being sustained upon examination by taxing authorities, based on the technical merits of the position. Any interest and penalties related to uncertain tax positions are reflected in income tax expense. (o) 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. (p) Allowance for Credit Losses We maintain an allowance for credit losses on customer receivables based on our historical write-off experience, an assessment of our customers’ financial conditions and available information that is relevant to assessing the collectability of cash flows, which includes current conditions and forecasts about future economic conditions. Customer receivables are charged against the allowance when they are deemed uncollectible. Refer to Note 3(b) below for information regarding our adoption of the credit loss standard effective July 1, 2020 . We are also contingently liable, within certain limits, in the event of a customer default, to independent financing companies in connection with customer financing programs. We monitor the collection status of these installment receivables and provide for estimated losses separately under accrued expenses within our consolidated balance sheets based upon our historical collection experience with such receivables and a current assessment of our credit exposure. (q) Impairment of Long-Lived Assets We periodically evaluate the carrying value of long-lived assets to be held and used, including certain identifiable intangible assets, when events and circumstances indicate that the carrying amount of an asset may not be recovered. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If assets are considered to be impaired, we recognize as the impairment the amount by which the carrying amount of the assets exceeds the fair value of the assets. We report assets to be disposed of at the lower of the carrying amount or fair value less costs to sell. We did not recognize impairment charges in relation to long-lived assets during the fiscal years ended June 30, 2021, 2020 and 2019. (r) Contingencies We record a liability in the consolidated financial statements for loss contingencies when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss is reasonably possible but not known or probable, and can be reasonably estimated, the estimated loss or range of loss is disclosed. When determining the estimated loss or range of loss, significant judgment is required to estimate the amount and timing of a loss to be recorded.

New Accounting Pronouncements

New Accounting Pronouncements	12 Months Ended
	Jun. 30, 2021
New Accounting Pronouncements [Abstract]
New Accounting Pronouncements	(3) 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 will evaluate transactions or contract modifications occurring as a result of reference rate reform and determine whether to apply the optional guidance on an ongoing basis. The ASU is currently not expected to have a material impact 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 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 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 consolidated financial statements.

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	12 Months Ended
	Jun. 30, 2021
Supplemental Balance Sheet Information [Abstract]
Supplemental Balance Sheet Information	(4) Supplemental Balance Sheet Information Components of selected captions in the consolidated balance sheets consisted of the following as of June 30, 2021 and June 30, 2020 (in thousands): Inventories 2021 2020 Raw materials $ 155,419 $ 128,096 Work in progress 4,647 2,807 Finished goods 296,967 286,012 Total inventories $ 457,033 $ 416,915 Property, Plant and Equipment 2021 2020 Machinery and equipment $ 349,022 $ 285,287 Computer equipment 194,386 188,036 Furniture and fixtures 54,435 54,275 Vehicles 5,959 5,513 Clinical, demonstration and rental equipment 110,620 95,860 Leasehold improvements 77,392 60,490 Land 54,458 51,803 Buildings 239,357 227,902 Property, plant and equipment, at cost $ 1,085,629 $ 969,166 Accumulated depreciation and amortization ( 622,139 ) ( 551,831 ) Property, plant and equipment, net $ 463,490 $ 417,335

Goodwill And Other Intangible A

Goodwill And Other Intangible Assets	12 Months Ended
	Jun. 30, 2021
Goodwill And Other Intangible Assets [Abstract]
Goodwill And Other Intangible Assets, Net	(5) Goodwill and Other Intangible Assets, net Goodwill For each of the years ended June 30, 2021 and June 30, 2020, we have no t recorded any goodwill impairments. Changes in the carrying amount of goodwill is comprised of the following for the year ended June 30, 2021 (in thousands): 2021 Sleep and Respiratory Care SaaS Total Balance at the beginning of the period $ 614,448 $ 1,275,876 $ 1,890,324 Business acquisitions 5,829 18,842 24,671 Foreign currency translation adjustments 12,906 - 12,906 Balance at the end of the period $ 633,183 $ 1,294,718 $ 1,927,901 Other Intangible Assets Other intangibles, net are comprised of the following as of June 30, 2021 and June 30, 2020 (in thousands): 2021 2020 Developed/core product technology $ 383,319 $ 382,806 Accumulated amortization ( 239,049 ) ( 197,670 ) Developed/core product technology, net 144,270 185,136 Customer relationships 272,703 279,370 Accumulated amortization ( 90,976 ) ( 80,922 ) Customer relationships, net 181,727 198,448 Other intangibles 197,662 177,091 Accumulated amortization ( 131,077 ) ( 112,507 ) Other intangibles, net 66,585 64,584 Total other intangibles, net $ 392,582 $ 448,168 Intangible assets consist of developed/core product technology, trade names, non-compete agreements, customer relationships, and patents, and we amortize them over the estimated useful life of the assets, generally between two years and fifteen years . There are no expected residual values related to these intangible assets. Amortization expense related to identified intangible assets for the years ended June 30, 2021 and June 30, 2020 was $ 76.2 million and $ 79.7 million, respectively. Amortization expense related to patents for the years ended June 30, 2021 and June 30, 2020 was $ 5.3 million and $ 8.3 million, respectively. Total estimated annual amortization expense for the years ending June 30, 2022 through June 30, 2026, is shown below (in thousands): Fiscal Years Ending June 30 2022 2023 2024 2025 2026 Estimated amortization expense $ 75,009 $ 58,028 $ 54,211 $ 49,741 $ 44,556

Investments

Investments	12 Months Ended
	Jun. 30, 2021
Investments [Abstract]
Investments	(6) Investments Equity investments by measurement category as of June 30, 2021 and June 30, 2020 were as follows (in thousands): Measurement category 2021 2020 Fair value $ 29,084 $ - Measurement alternative 23,002 30,033 Equity method 17,154 14,109 Total $ 69,240 $ 44,142 The following table shows a reconciliation of the changes in our equity investments for the year ended June 30, 2021 (in thousands): 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 14,250 21,788 Observable price adjustments on non-marketable equity securities 1,000 - - 1,000 Ongoing mark-to-market adjustments on marketable equity securities - 13,515 - 13,515 Reclassifications (1) ( 10,569 ) 10,569 - - Loss attributable to equity method investments - - ( 11,205 ) ( 11,205 ) Carrying value at the end of the period $ 23,002 $ 29,084 $ 17,154 $ 69,240 (1) During the year ended June 30, 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. The following table shows a reconciliation of the changes in our equity investments for the year ended June 30, 2020 (in thousands): 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 - - ( 25,058 ) ( 25,058 ) Carrying value at the end of the period $ 30,033 $ - $ 14,109 $ 44,142 Net unrealized gains and losses recognized in the years ended June 30, 2021, 2020 and 2019 for equity investments in non-marketable and marketable securities still held as of those respective dates were a gain of $14.5 million, a loss of $14.5 million, and a loss of $15.0 million, respectively.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Jun. 30, 2021
Accrued Expenses [Abstract]
Accrued Expenses	(7) Accrued Expenses Accrued expenses at June 30, 2021 and June 30, 2020 consist of the following (in thousands): 2021 2020 Product warranties (note 8) $ 22,032 $ 21,132 Consulting and professional fees 21,246 18,740 Value added taxes and other taxes due 26,542 26,627 Employee related costs 199,917 148,383 Liability on receivables sold with recourse (note 17) 8,163 6,647 Accrued interest 8,338 8,313 Logistics and occupancy costs 14,954 6,350 Inventory in transit 7,146 21,679 Other 12,261 12,482 Total accrued expenses $ 320,599 $ 270,353

Product Warranties

Product Warranties	12 Months Ended
	Jun. 30, 2021
Product Warranties [Abstract]
Product Warranties	(8) Product Warranties We include the liability for warranty costs in accrued expenses in our consolidated balance sheets. Changes in the liability for product warranty for the years ended June 30, 2021 and June 30, 2020 are as follows (in thousands): 2021 2020 Balance at the beginning of the period $ 21,132 $ 19,625 Warranty accruals for the period 14,366 14,167 Warranty costs incurred for the period ( 14,858 ) ( 12,229 ) Foreign currency translation adjustments 1,392 ( 431 ) Balance at the end of the period $ 22,032 $ 21,132

Debt

Debt	12 Months Ended
	Jun. 30, 2021
Debt [Abstract]
Debt	(9) Debt Debt at June 30, 2021 and June 30, 2020 consists of the following (in thousands): 2021 2020 Short-term debt $ 12,000 $ 12,000 Deferred borrowing costs - ( 13 ) Short-term debt, net 12,000 11,987 - Long-term debt $ 646,000 $ 1,168,000 Deferred borrowing costs ( 2,649 ) ( 3,867 ) Long-term debt, net $ 643,351 $ 1,164,133 Total debt $ 655,351 $ 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 June 30, 2021, the interest rate that was being charged on the outstanding principal amounts was 0.9 %. 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 June 30, 2021, we had $ 1.6 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 June 30, 2021 and June 30, 2020, which was $ 158.0 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 June 30, 2021, the Senior Notes have a carrying amount of $ 500.0 million, excluding deferred borrowing costs, and an estimated fair value of $ 530.4 million. Quoted market prices in active markets for identical liabilities based inputs (Level 1) were used to estimate fair value. At June 30, 2021, we were in compliance with our debt covenants and there was $ 658.0 million outstanding under the Revolving Credit Agreement, Term Credit Agreement and Senior Notes.

Leases

Leases	12 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	(10) Leases (a) Leases where ResMed is the Lessee We determine whether a contract is, or contains, a lease at inception. ROU assets represent our right to use an underlying asset during the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at lease commencement based upon the estimated present value of unpaid lease payments over the lease term. We use our incremental borrowing rate based on the information available at lease commencement in determining the present value of unpaid lease payments. ROU assets also include any lease payments made at or before lease commencement and any initial direct costs incurred, and exclude any lease incentives received. We determine the lease term as the non-cancellable period of the lease, and may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Leases with a term of 12 months or less are not recognized on the balance sheet. Some of our leases include variable lease payments that are based on costs incurred or actual usage, or adjusted periodically based on an index or a rate. Our leases do not contain any residual value guarantees and we do not account for lease and non-lease components as a single lease component. Operating leases are included in operating lease right-of-use assets and operating lease liabilities on our consolidated balance sheets. We lease certain office space, warehouses and distribution centers, manufacturing facilities, vehicles, and equipment with remaining lease terms ranging from less than 1 year to 15 years, some of which include options to extend or terminate the leases. Operating lease costs were $ 35.5 million for the year ended June 30, 2021 and $ 26.5 million for the year ended June 30, 2020. Short-term and variable lease costs were not material for the years ended June 30, 2021 and June 30, 2020. Future lease payments under non-cancellable leases as of June 30, 2021 and for the periods ending June 30 of the years indicated below were as follows (in thousands): Total 2022 2023 2024 2025 2026 Thereafter Minimum lease payments $ 158,247 $ 27,272 $ 23,163 $ 16,680 $ 13,564 $ 13,168 $ 64,400 Less: imputed interest ( 19,883 ) Total lease liabilities $ 138,364 As of June 30, 2021, we had additional operating lease commitments of $ 0.6 million for office space that have not yet commenced. These leases will commence during the year ended June 30, 2022 with lease terms of 2 years to 3 years. The supplemental information related to operating leases for the years ended June 30, 2021 and June 30, 2020 was as follows (in thousands): 2021 2020 Weighted-average inputs: Weighted-average remaining lease term (years) 8.5 9.1 Weighted-average discount rate 3.0 % 3.2 % Cash flow information: Operating cash flows paid for amounts included in the measurement of lease liabilities $ 27,734 $ 24,104 Right of use assets obtained in exchange for new lease liabilities: $ 36,130 $ 51,663 (b) Leases where ResMed is the Lessor 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 for the years ended June 30, 2021 and June 30, 2020 were as follows (in thousands): 2021 2020 Sales-type lease revenue $ 9,758 $ 13,457 Operating lease revenue 93,431 87,874 Total lease revenue $ 103,189 $ 101,331 Our net investment in sales-type leases were classified in the consolidated balance sheets as of June 30, 2021 and June 30, 2020 as follows (in thousands): 2021 2020 Accounts receivable, net $ 8,026 $ 7,697 Prepaid taxes and other non-current assets 6,214 6,957 Total $ 14,240 $ 14,654 Maturities of sales-type leases as of June 30, 2021 were as follows (in thousands): Total 2022 2023 2024 2025 2026 Thereafter Remaining lease payments $ 15,596 $ 8,378 $ 5,173 $ 1,699 $ 174 $ 172 $ - Less: imputed interest ( 1,356 ) Present value of remaining lease payments $ 14,240

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Jun. 30, 2021
Stockholders' Equity [Abstract]
Stockholders' Equity	(11) Stockholders’ Equity Common Stock. On February 21, 2014, our board of directors approved a new share repurchase program, authorizing us to acquire up to an aggregate of 20.0 million shares of our common stock. The program allows us to repurchase shares of our common stock from time to time for cash in the open market, or in negotiated or block transactions, as market and business conditions warrant and subject to applicable legal requirements. The 20.0 million shares the new program authorizes us to purchase are in addition to the shares we repurchased on or before February 21, 2014 under our previous programs. There is no expiration date for this program, and the program may be accelerated, suspended, delayed or discontinued at any time at the discretion of our board of directors. All share repurchases since February 21, 2014 have been executed in accordance with this program. We have temporarily suspended our repurchase program and, accordingly, did not repurchase any shares during fiscal years 2021 or 2020. As of June 30, 2021, we have repurchased a total of 41.8 million shares at a cost of $ 1.6 billion . Shares that are repurchased are classified as “treasury stock pending future use” and reduce the number of shares outstanding used in calculating earnings per share. At June 30, 2021, 12.9 million additional shares can be repurchased under the approved share repurchase program. Preferred Stock. In April 1997, our board of directors authorized 2,000,000 shares of $ 0.01 par value preferred stock. No such shares were issued or outstanding at June 30, 2021. Stock Options and Restricted Stock Units. We have granted stock options, restricted stock units (“RSUs”) and performance restricted stock units (“PRSUs”) to personnel, including officers and directors, in accordance with the ResMed Inc. 2009 Incentive Award Plan (the “2009 Plan”). Options and restricted stock units vest over one year to four years and the options have expiration dates of seven years from the date of grant. We have granted the options with an exercise price equal to the market value as determined at the date of grant. We have granted PRSUs that are subject to a market condition, with the ultimate realizable number of PRSUs dependent on relative total stockholder return over a period of three years , up to a maximum amount to be issued under the award of 225 % of the original grant. At the annual meeting of our stockholders in November 2017, our stockholders approved an amendment and restatement to the 2009 Plan to increase the number of shares of common stock that may be issued or transferred pursuant to awards under the 2009 Plan by 7.4 million. The amendment and restatement imposes a maximum award amount which may be granted under the 2009 Plan to non-employee director in a calendar year, which when taken together with any other cash fees earned for services as a non-employee director during the calendar year, has a total value of $ 0.7 million, or $ 1.2 million in the case of a non-employee director who is also serving as chairman of our board of directors. The amendment and restatement also increased the maximum amount payable pursuant to cash-denominated performance awards granted in any calendar year from $ 3.0 million to $ 5.0 million. In addition, the amendment and restatement extended the existing prohibition on the payment of dividends or dividend equivalents on unvested awards to apply to all awards, including time-based restricted stock, deferred stock and stock payment. The term of the 2009 Plan was extended by four years so that the plan expires on September 11, 2027 . The maximum number of shares of our common stock authorized for issuance under the 2009 Plan is 51.1 million. The number of securities remaining available for future issuance under the 2009 Plan at June 30, 2021 is 15.5 million. The number of shares of our common stock available for issuance under the 2009 Plan will be reduced by (i) 2.8 shares for each one share of common stock delivered in settlement of any “full-value award,” which is any award other than a stock option, stock appreciation right or other award for which the holder pays the intrinsic value and (ii) one share for each share of common stock delivered in settlement of all other awards. The maximum number of shares, which may be subject to awards granted under the 2009 Plan to any individual during any calendar year, may not exceed 3 million shares of our common stock (except in a participant’s initial year of hiring up to 4.5 million shares of our common stock may be granted). In certain regions, shares are withheld on behalf of employees to satisfy statutory tax withholding requirements upon exercise or vesting of awards. The number of shares withheld is based upon the closing price of our common stock on the trading day of the applicable settlement date. The remaining shares are delivered to the recipient as shares of our common stock. The amount remitted to the tax authorities for the employees’ tax obligation is reflected as a financing activity on our consolidated statements of cash flows. Shares withheld by us as a result of the net settlement are not considered issued and outstanding and are added to the reserves of the 2009 Plan. The total fair value of RSUs and PRSUs that vested during the years ended June 30, 2021, 2020 and 2019, was $ 59.6 million, $ 56.8 million and $ 52.3 million, respectively. The following table summarizes the activity of RSUs, including PRSUs, during year ended June 30, 2021 (in thousands, except years and per share amounts) : Restricted Stock Units Weighted Average Grant-Date Fair Value Weighted Average Remaining Contractual Term in Years Outstanding at beginning of period 1,132 $ 103.77 1.6 Granted 277 209.02 Vested* ( 704 ) 84.87 Performance factor adjustment 209 - Expired / cancelled ( 34 ) 119.64 Forfeited ( 5 ) 119.64 Outstanding at end of period 875 $ 145.19 1.5 * Includes 235 thousand shares netted for tax. The following table summarizes option activity during the year ended June 30, 2021 (in thousands, except years and per share amounts) : Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term in Years Outstanding at beginning of period 1,068 $ 89.05 4.4 Granted 56 210.18 Exercised ( 64 ) 62.05 Forfeited - - Outstanding at end of period 1,060 $ 97.01 3.7 Options exercisable at end of period 804 $ 82.11 3.2 Options vested and expected to vest at end of period 1,050 $ 96.37 3.7 The aggregate intrinsic value of options exercised during the fiscal years 2021, 2020 and 2019, was $ 8.9 million, $ 31.2 million and $ 15.1 million, respectively. As at June 30, 2021, the aggregate intrinsic value of options outstanding, exercisable, and vested and expected to vest were $ 158.5 million, $ 132.1 million and $ 157.6 million respectively. Employee Stock Purchase Plan (the “ESPP”). Under the ESPP, we offer participants the right to purchase shares of our common stock at a discount during successive offering periods. Each offering period under the ESPP will be for a period of time determined by the board of directors’ compensation committee of no less than 3 months and no more than 27 months. The purchase price for our common stock under the ESPP will be the lower of 85 % of the fair market value of our common stock on the date of grant or 85 % of the fair market value of our common stock on the date of purchase. An individual participant cannot subscribe for more than $ 25,000 in common stock during any calendar year. At June 30, 2021, the number of shares remaining available for future issuance under the ESPP is 1.8 million shares. During years ended June 30, 2021, 2020 and 2019, we issued 229,000 , 265,000 and 285,000 shares to our employees in two offerings and we recognized $ 10.9 million, $ 8.0 million and $ 6.4 million, respectively, of stock compensation expense associated with the ESPP. Stock–based Employee compensation. We measure the compensation expense of all stock-based awards at fair value on the grant date. We estimate the fair value of stock options and purchase rights granted under the ESPP using the Black-Scholes valuation model. The fair value of restricted stock units is equal to the market value of the underlying shares as determined at the grant date less the fair value of dividends that holders are not entitled to, during the vesting period. The fair value of performance restricted stock units is measured using a Monte-Carlo simulation valuation model. We recognize the fair value as compensation expense using the straight-line method over the service period for awards expected to vest. We estimate the fair value of stock options granted under our stock option plans and purchase rights granted under the ESPP using the assumptions in the following tables. The risk-free interest rate is estimated using the U.S. Treasury yield curve and is based on the term of the award. The expected term of awards is estimated from the vesting period of the award, as well as historical exercise behavior, and represents the period of time the awards granted are expected to be outstanding. Expected volatility is estimated based upon the historical volatility of ResMed stock. We estimate the fair value of stock options granted under our stock option plans and purchase rights granted under the ESPP using the following assumptions for the years ended June 30, 2021, 2020 and 2019: 2021 2020 2019 Stock options: Weighted average grant date fair value $ 53.67 $ 32.14 $ 21.92 Weighted average risk-free interest rate 0.37 % 1.58 % 2.96 % Expected life in years 4.9 4.9 4.9 Dividend yield 0.75 % 1.07 % 1.34 % - 1.46 % Expected volatility 31 % 25 % 23 % ESPP purchase rights: Weighted average grant date fair value $ 48.18 $ 31.82 $ 22.12 Weighted average risk-free interest rate 0.1 % 1.6 % 2.4 % Expected life in years 6 months 6 months 6 months Dividend yield 0.79 % - 0.98 % 0.98 % - 1.42 % 1.40 % - 1.47 % Expected volatility 30 % - 60 % 23% - 60% 23 % The following table summarizes the total stock-based compensation costs incurred and the associated tax benefit recognized during the years ended June 30, 2021, 2020 and 2019 (in thousands): 2021 2020 2019 Cost of sales $ 4,153 $ 3,703 $ 3,043 Selling, general and administrative expenses 51,727 47,265 42,700 Research and development expenses 8,047 6,591 6,330 Stock-based compensation costs 63,927 57,559 52,073 Tax benefit ( 23,346 ) ( 39,534 ) ( 26,658 ) Stock-based compensation costs, net of tax benefit $ 40,581 $ 18,025 $ 25,415 At June 30, 2021, there was $ 94.3 million in unrecognized compensation costs related to unvested stock-based compensation arrangements. This is expected to be recognized over a weighted average period of 2.2 years.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	(12) Earnings Per Share We compute basic earnings per share by dividing the net income available to common stockholders by the weighted average number of shares of common stock outstanding. For purposes of calculating diluted earnings per share, the denominator includes both the weighted average number of shares of common stock outstanding and the number of dilutive common stock equivalents such as stock options and restricted stock units. The weighted average number of outstanding stock options and restricted stock units not included in the computation of diluted earnings per share were 141,000 , 164,000 and 200,000 for the years ended June 30, 2021, 2020 and 2019, respectively, as the effect would have been anti-dilutive. Basic and diluted earnings per share for the years ended June 30, 2021, 2020 and 2019 are calculated as follows (in thousands except per share data): 2021 2020 2019 Numerator: Net income $ 474,505 $ 621,674 $ 404,592 Denominator: Basic weighted-average common shares outstanding 145,313 144,338 143,111 Effect of dilutive securities: Stock options and restricted stock units 1,138 1,314 1,373 Diluted weighted average shares 146,451 145,652 144,484 Basic earnings per share $ 3.27 $ 4.31 $ 2.83 Diluted earnings per share $ 3.24 $ 4.27 $ 2.80

Other, Net

Other, Net	12 Months Ended
	Jun. 30, 2021
Other, Net [Abstract]
Other, Net	(13) Other, net Other, net, in the consolidated statements of income is comprised of the following for the years ended June 30, 2021, 2020 and 2019 (in thousands): 2021 2020 2019 Gain (loss) on foreign currency transactions and hedging, net $ ( 753 ) $ 1,331 $ 1,712 Unrealized gains (losses) on investments (note 6) 14,515 (14,519) (15,007) Other 1,054 1,031 2,569 Total Other, net $ 14,816 $ ( 12,157 ) $ ( 10,726 )

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2021
Income Taxes [Abstract]
Income Taxes	(14) Income Taxes Income before income taxes for the years ended June 30, 2021, 2020 and 2019, was taxed under the following jurisdictions (in thousands): 2021 2020 2019 U.S. $ 71,867 $ 60,548 $ ( 34,468 ) Non-U.S. 811,795 672,540 553,315 Income before income taxes $ 883,662 $ 733,088 $ 518,847 The provision for income taxes is presented below (in thousands): 2021 2020 2019 Current: Federal $ ( 115,109 ) $ 9,790 $ 28,658 State 9,041 6,898 7,595 Non-U.S. 531,812 124,602 127,540 425,744 141,290 163,793 Deferred: Federal ( 22,791 ) ( 13,000 ) ( 30,456 ) State ( 4,205 ) ( 3,335 ) ( 5,408 ) Non-U.S. 10,409 ( 13,541 ) ( 13,674 ) ( 16,587 ) ( 29,876 ) ( 49,538 ) Provision for income taxes $ 409,157 $ 111,414 $ 114,255 The provision for income taxes differs from the amount of income tax determined by applying the applicable U.S. federal income tax rate of 21 % for the years ended June 30, 2021, 2020 and 2019, to pretax income as a result of the following (in thousands): 2021 2020 2019 Taxes computed at statutory U.S. rate $ 185,569 $ 153,949 $ 108,958 Increase (decrease) in income taxes resulting from: State income taxes, net of U.S. tax benefit 4,836 3,563 2,186 Research and development credit ( 20,257 ) ( 13,595 ) ( 12,953 ) Change in valuation allowance ( 3,785 ) 7,216 ( 1,118 ) Effect of non-U.S. tax rates ( 12,130 ) ( 20,935 ) 25,045 Foreign tax credits ( 7,210 ) ( 4,026 ) ( 7,806 ) Stock-based compensation expense ( 4,498 ) ( 20,696 ) ( 11,534 ) Uncertain tax position 248,773 - - Transition tax - - 6,038 Other 17,859 5,938 5,439 Provision for income taxes $ 409,157 $ 111,414 $ 114,255 We reported net deferred tax assets and liabilities in our consolidated balance sheets at June 30, 2021 and June 30, 2020, as follows (in thousands): 2021 2020 Non-current deferred tax asset $ 79,904 $ 41,065 Non-current deferred tax liability ( 11,319 ) ( 13,011 ) Net deferred tax asset $ 68,585 $ 28,054 The components of our deferred tax assets and liabilities at June 30, 2021 and June 30, 2020, are as follows (in thousands): 2021 2020 Deferred tax assets: Employee liabilities $ 30,080 $ 21,272 Tax credit carry overs 13,753 9,295 Inventories 11,734 9,129 Provision for warranties 4,149 3,585 Provision for doubtful debts 7,334 6,594 Net operating loss carryforwards 33,377 38,035 Capital loss carryover 6,912 10,864 Stock-based compensation expense 6,080 6,035 Deferred revenue 17,839 15,343 Research and development capitalization 58,789 39,195 Lease liabilities 25,751 - Other ( 5,851 ) ( 3,006 ) 209,947 156,341 Less valuation allowance ( 13,106 ) ( 16,891 ) Deferred tax assets 196,841 139,450 Deferred tax liabilities: Goodwill and other intangibles ( 104,563 ) ( 111,396 ) Right of use assets ( 23,693 ) - Deferred tax liabilities ( 128,256 ) ( 111,396 ) Net deferred tax asset $ 68,585 $ 28,054 As of June 30, 2021, we had $ 25.1 million of U.S. federal and state net operating loss carryforwards and $ 7.6 million of non-U.S. net operating loss carryforwards, which expire in various years beginning in 2022 or carry forward indefinitely. The valuation allowance at June 30, 2021 relates to a provision for uncertainty of the utilization of net operating loss carryforwards of $ 0.8 million and capital loss and other items of $ 12.3 million. We believe that it is more likely than not that the benefits of deferred tax assets, net of any valuation allowance, will be realized. A substantial portion of our manufacturing operations and administrative functions in Singapore operate under certain tax holidays and tax incentive programs that will expire in whole or in part at various dates through June 30, 2030. The end of certain tax holidays may be extended if specific conditions are met. The net impact of these tax holidays and tax incentive programs increased our net income by $ 33.6 million ($ 0.23 per diluted share) for the year ended June 30, 2021, $ 43.8 million ($ 0.30 per diluted share) for the year ended June 30, 2020, and $ 20.3 million ($ 0.14 per diluted share) for the year ended June 30, 2019. As a result of the Tax Cuts and Jobs Act of 2017 (the ”U.S. Tax Act”), we have treated all non-U.S. historical earnings as taxable, which resulted in additional tax expense of $ 6.0 million during the year ended June 30, 2019, which related to final treasury regulations issued and temporary guidance published during the year and is payable over eight years . Therefore, future repatriation of cash held by our non-U.S. subsidiaries will generally not be subject to U.S. federal tax if repatriated. The total amount of these undistributed earnings at June 30, 2021 amounted to approximately $ 3.2 billion. On June 14, 2019, the U.S. Treasury Department issued final and temporary regulations relating to the repatriation of non-U.S. earnings. As a result, in the event our non-U.S. earnings had not been permanently reinvested, approximately $ 202.6 million in U.S. federal deferred taxes and $ 5.1 million in U.S. state deferred taxes would have been recognized in the consolidated financial statements. In accounting for uncertainty in income taxes, we recognize a tax benefit in the financial statements for an uncertain tax position only if management’s assessment is that the position is “more likely than not” (that is, a likelihood greater than 50 percent) to be allowed by the tax jurisdiction based solely on the technical merits of the position. The term “tax position” refers to a position in a previously filed tax return or a position expected to be taken in a future tax return that is reflected in measuring current or deferred income tax assets and liabilities for annual periods. We recognize interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying consolidated statements of income. Accrued interest and penalties are included within the related tax liability line in the consolidated balance sheets. 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 . 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 are engaged in advanced discussions with the ATO to settle the dispute for the entire Audit Period. Given the stage of those discussions, during the year ended June 30, 2021, we recorded $ 395.3 million of gross unrecognized tax benefits, including $ 47.5 million of accrued interest and penalties. This amount reflects our estimate of the potential tax liability and is subject to change. Included in the balance of uncertain tax positions as of June 30, 2021 were $ 248.7 million of net unrecognized tax benefits that, if recognized, would reduce the effective income tax rate in future periods. This amount represents the $ 395.3 million of gross unrecognized tax, adjusted for tax credits and deductions of $ 146.6 million. If the matter were to progress to litigation, we continue to believe we are more likely than not to be successful in defending our position. If we are not successful in litigation, 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. The timing and resolution of the ATO audits are inherently uncertain, and the amounts we might ultimately pay or receive in credits and deductions, 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. Outside the ATO audit described above, tax years 2017 to 2020 remain subject to future examination by the major tax jurisdictions in which we are subject to tax.

Segment Information

Segment Information	12 Months Ended
	Jun. 30, 2021
Segment Information [Abstract]
Segment Information	(15) Segment Information We have two operating segments, which are the Sleep and Respiratory Care segment and the SaaS segment. We evaluate the performance of our segments based on net sales and income from operations. The accounting policies of the segments are the same as those described in note 2 – significant accounting policies. Segment net sales and segment income from operations do not include inter-segment profits and revenue is allocated to a geographic area based on where the products are shipped to or where the services are performed. Certain items are maintained at the corporate level and are not allocated to the segments. The non-allocated items include corporate headquarters costs including stock-based compensation, amortization expense of acquired intangibles, restructuring expenses, litigation settlement expenses, acquisition related expenses, deferred revenue fair value adjustment, net interest expense, loss attributable to equity method investments, 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, depreciation and amortization and net operating profit by reportable segments for the years ended June 30, 2021, 2020 and 2019 (in thousands): 2021 2020 2019 Net revenue by segment Total Sleep and Respiratory Care $ 2,823,235 $ 2,602,381 $ 2,330,783 Software as a Service 373,590 356,734 281,137 Deferred revenue fair value adjustment (1) - ( 2,102 ) ( 5,348 ) Total Software as a Service 373,590 354,632 275,789 Total $ 3,196,825 $ 2,957,013 $ 2,606,572 Depreciation and amortization by segment Sleep and Respiratory Care $ 73,151 $ 69,444 $ 70,094 Software as a Service 5,230 3,850 3,250 Amortization of acquired intangible assets and corporate assets 78,377 81,556 77,451 Total $ 156,758 $ 154,850 $ 150,795 Net operating profit by segment Sleep and Respiratory Care $ 1,036,712 $ 934,697 $ 766,068 Software as a Service 93,037 82,152 74,886 Total $ 1,129,749 $ 1,016,849 $ 840,954 Reconciling items Corporate costs $ 141,193 $ 125,993 $ 124,682 Amortization of acquired intangible assets 76,205 79,695 74,938 Restructuring expenses 8,673 - 9,401 Litigation settlement expenses - ( 600 ) 41,199 Acquisition related expenses - - 6,123 Deferred revenue fair value adjustment (1) - 2,102 5,348 Interest expense (income), net 23,627 39,356 33,857 Loss attributable to equity method investments 11,205 25,058 15,833 Other, net ( 14,816 ) 12,157 10,726 Income before income taxes $ 883,662 $ 733,088 $ 518,847 (1) The deferred revenue fair value adjustment is a purchase price accounting adjustment related to MatrixCare which was acquired on November 13, 2018. The following table summarizes our net revenue disaggregated by segment, product and region for the years ended June 30, 2021, 2020 and 2019 (in thousands): 2021 2020 2019 U.S., Canada and Latin America Devices $ 863,661 $ 792,766 $ 743,066 Masks and other 841,452 779,561 677,430 Total Sleep and Respiratory Care $ 1,705,113 $ 1,572,327 $ 1,420,496 Software as a Service 373,590 354,632 275,789 Total $ 2,078,703 $ 1,926,959 $ 1,696,285 Combined Europe, Asia and other markets Devices $ 746,379 $ 715,056 $ 618,525 Masks and other 371,743 314,998 291,762 Total Sleep and Respiratory Care $ 1,118,122 $ 1,030,054 $ 910,287 Global revenue Devices $ 1,610,040 $ 1,507,822 $ 1,361,591 Masks and other 1,213,195 1,094,559 969,192 Total Sleep and Respiratory Care $ 2,823,235 $ 2,602,381 $ 2,330,783 Software as a Service 373,590 354,632 275,789 Total $ 3,196,825 $ 2,957,013 $ 2,606,572 Revenue information by geographic area for the years ended June 30, 2021, 2020 and 2019 is summarized below (in thousands): 2021 2020 2019 United States $ 1,962,721 $ 1,828,575 $ 1,588,655 Rest of the World 1,234,104 1,128,438 1,017,917 Total $ 3,196,825 $ 2,957,013 $ 2,606,572 Long-lived assets of geographic areas are those assets used in our operations in each geographical area, and excludes goodwill, other intangible assets, and deferred tax assets. Long-lived assets by geographic area as of June 30, 2021, 2020 and 2019, is summarized below (in thousands): 2021 2020 Australia 186,289 162,490 United States $ 159,815 $ 164,155 Singapore 64,182 39,977 Rest of the World 53,204 50,713 Total $ 463,490 $ 417,335

Employee Retirement Plans

Employee Retirement Plans	12 Months Ended
	Jun. 30, 2021
Employee Retirement Plans [Abstract]
Employee Retirement Plans	(16) Employee Retirement Plans We contribute to a number of employee retirement plans for the benefit of our employees. Details of the main plans are as follows: Australia We contribute to defined contribution plans for each employee resident in Australia at the rate of approximately 9.5 % of salaries. Employees may contribute additional funds to the plans. All Australian employees, after serving a qualifying period, are entitled to benefits on retirement, disability or death. Our total contributions to the plans for the years ended June 30, 2021, 2020 and 2019, were $ 10.7 million, $ 9.5 million and $ 10.0 million, respectively. United States We sponsor a defined contribution plan available to substantially all domestic employees. Company contributions to this plan are based on a percentage of employee contributions to a maximum of 4.0 % of the employee’s salary. Our total contributions to the plan were $ 9.6 million, $ 9.3 million and $ 6.7 million in fiscal 2021, 2020 and 2019, respectively. Singapore We sponsor a defined contribution plan available to substantially all domestic employees. Company contributions to this plan are based on a percentage of employee contributions to a maximum of 17.0 % of the employee’s salary. Our total contributions to the plan were $ 2.5 million, $ 2.9 million and $ 2.6 million in fiscal 2021, 2020 and 2019, respectively.

Legal Actions, Contingencies An

Legal Actions, Contingencies And Commitments	12 Months Ended
	Jun. 30, 2021
Legal Actions, Contingencies And Commitments [Abstract]
Legal Actions, Contingencies And Commitments	(17) Legal Actions, Contingencies and Commitments 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 14 – 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 year ended June 30, 2021 and 2020, receivables sold with limited recourse were $ 153.0 million and $ 154.5 million, respectively. As of June 30, 2021, the maximum exposure on outstanding receivables sold with recourse and contingent provision were $ 30.2 million and $ 8.2 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. Commitments In the normal course of business, we enter into agreements to purchase goods or services that are not cancelable without penalty, primarily related to supply arrangements. Obligations under our purchase agreements at June 30, 2021 were as follows (in thousands): Fiscal Years Ending June 30 Total 2022 2023 2024 2025 2026 Thereafter Minimum purchase obligations $ 1,100,839 $ 1,099,419 $ 994 $ 426 $ - $ - $ -

Business Combinations

Business Combinations	12 Months Ended
	Jun. 30, 2021
Business Combinations [Abstract]
Business Combinations	(18) Business Combinations Fiscal years ended June 30, 2021 and June 30, 2020 During the years ended June 30, 2021 and 2020 we did no t complete any material business combinations or record material acquisition-related expenses. Fiscal year ended June 30, 2019 MatrixCare On November 13, 2018, we completed the acquisition of 100 % of the shares in MatrixCare, Inc. and its subsidiaries (“MatrixCare”), a provider of software solutions for skilled nursing, life plan communities, senior living and private duty, for base purchase consideration paid of $ 750.0 million. This acquisition has been accounted for as a business combination using purchase accounting and included in our consolidated financial statements from November 13, 2018. The acquisition was paid for using borrowings under our revolving credit facility. During the year ended June 30, 2019, revenues of $ 79.2 million and losses from operations of $ 9.1 million related to MatrixCare were included in the consolidated statement of comprehensive income. The losses from operations for the year ended June 30, 2019 was negatively impacted by $ 19.0 million of amortization of acquired intangible assets and fair value purchase price adjustments relating to deferred revenue of $ 5.3 million. Excluding the impact of these items, revenue for the year ended June 30, 2019 was $ 84.6 million and income from operations was $ 15.3 million. The acquisition is considered a material business combination and accordingly unaudited pro forma information is presented below for the year ended June 30, 2019. The pro forma results were prepared using the acquisition method of accounting and combine our historical results and MatrixCare’s for the year ended June 30, 2019, including the effects of the business combination, primarily amortization expense related to the fair value of identifiable intangible assets acquired, interest expense associated with the financing obtained by us in connection with the acquisition, and the elimination of incurred acquisition-related costs. The pro forma financial information presented below is not necessarily indicative of the results of operations that would have been achieved if the acquisition occurred at the beginning of the earliest period presented, nor is it intended to be a projection of future results. The following table summarized unaudited pro forma consolidated results for the year ended June 30, 2019 (in thousands, except per share information): 2019 Revenue $ 2,652,059 Net income $ 446,721 Basic earnings per share $ 3.12 Diluted earnings per share $ 3.09 The unaudited pro forma consolidated results for the year ended June 30, 2019 reflects primarily the following pro forma pre-tax adjustments:  Net amortization expense related to the fair value of identifiable intangible assets acquired of $ 0.6 million.  Net interest expense associated with debt that was issued to finance the acquisition of $ 2.6 million.  Elimination of pre-tax acquisition-related costs incurred by ResMed and MatrixCare of $ 3.7 million and $ 16.7 million, respectively.  Net income tax expense of $ 1.8 million.

Restructuring Expenses

Restructuring Expenses	12 Months Ended
	Jun. 30, 2021
Restructuring Expenses [Abstract]
Restructuring Expenses	(19) Restructuring Expenses In November 2020, we closed our Portable Oxygen Concentrator business, which was part of the Sleep and Respiratory Care segment. During the year ended June 30, 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 year ended June 30, 2021, 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 consolidated statements of operations. The restructure was completed as of June 30, 2021. During the year ended June 30, 2020, we did no t incur material restructuring expenses. During the year ended June 30, 2019, we incurred restructuring expenses of $ 9.4 million associated with the reorganization, rationalization and relocation of some of our research and development and SaaS operations including the closure of our German research and development site. We recorded the full amount of $ 9.4 million during the year ended June 30, 2019, within our operating expenses, which was separately disclosed as restructuring expenses and had $ 5.4 million remaining in our accruals at year end, which was paid during the year ended June 30, 2020. The restructuring expenses consisted primarily of severance payments to employees and contract exit costs associated with several impacted sites.

Litigation Settlement Expenses

Litigation Settlement Expenses	12 Months Ended
	Jun. 30, 2021
Litigation Settlement Expenses [Abstract]
Litigation Settlement Expenses	(20) Litigation Settlement Expenses We did no t recognize any material litigation settlement expenses during the years ended June 30, 2021 and 2020. During the year ended June 30, 2019 we recognized litigation settlement expenses of $ 41.2 million associated with a tentative agreement with the United States Department of Justice to civilly resolve the investigation of certain marketing practices. We finalized the settlement in December 2019 and announced it in January 2020 on terms that were consistent with our prior reserve. The settlement amount consisted of the payment to the United States and to various states that joined the action, as well as attorneys’ fees and other costs to the private litigants that filed the suits that the Department of Justice pursued. We also entered into a corporate integrity agreement with the Office of the Inspector General of the U.S. Department of Health and Human Services with accompanying oversight of our sales and marketing practices in the United States for five years.

Schedule II Valuation And Quali

Schedule II Valuation And Qualifying Accounts And Reserves	12 Months Ended
	Jun. 30, 2021
Schedule II Valuation And Qualifying Accounts And Reserves [Abstract]
Schedule II Valuation And Qualifying Accounts And Reserves	SCHEDULE II RESMED INC. AND SUBSIDIARIES VALUATION AND QUALIFYING ACCOUNTS AND RESERVES June 30, 2021, 2020 and 2019 (in thousands) Balance at Beginning of Period Charged to costs and expenses Other (deductions) Balance at End of Period Year ended June 30, 2021 Applied against asset account Allowance for trade accounts receivable (1) $ 30,013 $ 7,805 $ ( 5,680 ) $ 32,138 Year ended June 30, 2020 Applied against asset account Allowance for trade accounts receivable $ 25,171 $ 18,283 $ ( 14,946 ) $ 28,508 Year ended June 30, 2019 Applied against asset account Allowance for trade accounts receivable $ 19,258 $ 12,379 $ ( 6,466 ) $ 25,171 (1) Beginning balance is adjusted to reflect the cumulative pre-tax effect of adopting Accounting Standards Update No. 2016-13, “Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments” (Topic 326), effective July 1, 2021. Refer to Note 3 - New Accounting Pronouncements of the Notes to the Consolidated Financial Statements (Part II, Item 8) for additional information. See accompanying report of independent registered public accounting firm.

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies (Policy)	12 Months Ended
	Jun. 30, 2021
Summary Of Significant Accounting Policies [Abstract]
Basis Of Consolidation	Basis of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant inter-company transactions and balances have been eliminated in consolidation. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management estimates and assumptions that affect amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from management’s estimates.
Revenue Recognition	Revenue Recognition 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 See note 15 – Segment Information for our net revenue disaggregated by segment, product and region for the years ended June 30, 2021, 2020 and 2019. 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 as of June 30, 2021 and 2020 (in thousands): 2021 2020 Balance sheet caption Contract assets Accounts receivable, net $ 614,292 $ 474,643 Accounts receivable, net Unbilled revenue, current 10,893 9,452 Prepaid expenses and other current assets Unbilled revenue, non-current 6,214 6,957 Prepaid taxes and other non-current assets Contract liabilities Deferred revenue, current ( 109,611 ) ( 98,617 ) Deferred revenue (current liabilities) Deferred revenue, non-current ( 91,496 ) ( 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 adopted two practical expedients including the “right to invoice” practical expedient, which allows us to recognize revenue in the amount of the invoice when it corresponds directly with the value of performance completed to date and which is relevant for some of our SaaS contracts. 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.
Concentration Of Credit Risk And Significant Customers	Concentration of Credit Risk and Significant Customers Financial instruments that are potentially subject to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities, derivatives and trade receivables. Our cash and cash equivalents are generally held with large, diverse financial institutions to reduce the amount of exposure to any single financial institution. Our derivative contracts are transacted with various financial institutions with high credit standings and any exposure to counterparty credit-related losses in these contracts is largely mitigated with collateralization and master-netting agreements. The risk with respect to trade receivables is mitigated by credit evaluations we perform on our customers, the short duration of our payment terms for the significant majority of our customer contracts and by the diversification of our customer base. No single customer accounted for 10% or more of our total revenues for any of the periods presented.
Fair Value Of Financial Instruments	Fair Value of Financial Instruments The fair value of financial instruments is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We measure our financial instruments at fair value at each reporting period using a fair value hierarchy that requires that we maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Three levels of inputs may be used to measure fair value: Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Other inputs that are directly or indirectly observable in the marketplace. Level 3 - Unobservable inputs that are supported by little or no market activity. The carrying value of cash equivalents, accounts receivable and accounts payable, approximate their fair value because of their short-term nature. The carrying value of long-term debt related to our Revolving Credit and Term Credit Agreements approximates its fair value as the principal amounts outstanding are subject to variable interest rates that are based on market rates which are regularly reset. The carrying value of long-term debt related to our Senior Notes can differ to its fair value as the principal amounts outstanding are subject to fixed interest rates as outlined in note 9 - Debt. Foreign currency hedging instruments are marked to market and therefore reflect their fair value. In addition, we measure investments in publicly held equity securities and privately held equity securities for which there has been an observable price change in an identical or similar security, at fair value. We do not hold or issue financial instruments for trading purposes.
Cash And Cash Equivalents	Cash and Cash Equivalents Cash equivalents include certificates of deposit and other highly liquid investments and we state them at cost, which approximates market. We consider investments with original maturities of 90 days or less to be cash equivalents for purposes of the consolidated statements of cash flows.
Inventories	Inventories We state inventories at the lower of cost (determined principally by the first-in, first-out method) or net realizable value. We include material, labor and manufacturing overhead costs in finished goods and work-in-process inventories. We review and provide for any product obsolescence in our manufacturing and distribution operations by assessing throughout the year individual products and components (based on estimated future usage and sales).
Property, Plant And Equipment	Property, Plant and Equipment We record property, plant and equipment, including rental and demonstration equipment at cost. We compute depreciation expense using the straight-line method over the estimated useful lives of the assets. Useful lives are generally two years to ten years except for buildings which are depreciated over an estimated useful life of 40 years and leasehold improvements, which we amortize over the shorter of the useful life or the lease term. We charge maintenance and repairs to expense as we incur them. Depreciation expense for property, plant, and equipment was $ 78.4 million, $ 65.6 million, and $ 65.9 million for the years ended June 30, 2021, 2020 and 2019, respectively.
Intangible Assets	Intangible Assets We capitalize the registration costs for new patents and amortize the costs over the estimated useful life of the patent, which is generally ten years. If a patent is superseded or a product is retired, any unamortized costs are written off immediately. We amortize all of our other intangible assets on a straight-line basis over their estimated useful lives, which range from two years to fifteen years . We take into account events or circumstances that warrant revised estimates of useful lives or that indicate that impairment exists and, at least annually, evaluate the recoverability of intangible assets. We have no t identified any impairment of intangible assets during any of the periods presented.
Goodwill	Goodwill We conduct our annual review for goodwill impairment during the final quarter of the fiscal year. Our goodwill impairment review is performed at our reporting unit level, which is one level below our operating segments and involves the following steps: Step 0 or Qualitative assessment – Evaluate qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. The factors we consider include, but are not limited to, macroeconomic conditions, industry and market considerations, cost factors, overall financial performance or events-specific to that reporting unit. If or when we determine it is more likely than not that the fair value of a reporting unit is less than the carrying amount, including goodwill, we would move to Step 1 of the quantitative method. Step 1 – Compare the fair value for each reporting unit to its carrying value, including goodwill. Fair value is determined based on estimated discounted cash flows. A goodwill impairment charge is recognized for the amount that the carrying amount of a reporting unit, including goodwill, exceeds its fair value, limited to the total amount of goodwill allocated to that reporting unit. If a reporting unit’s fair value exceeds the carrying value, no further work is performed and no impairment charge is necessary. During the annual reviews for the years ended June 30, 2021, 2020 and 2019, we completed a Step 0 or Qualitative assessment and determined it was more likely than not that the fair value of our reporting units exceeded their carrying amounts, including goodwill, and therefore goodwill was no t impaired.
Equity Investments	Equity investments We have equity investments in privately and publicly held companies that are unconsolidated entities. The following discusses our accounting for investments in marketable equity securities, non-marketable equity securities, and investments 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 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 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 assess non-marketable equity securities at least quarterly for impairment and consider qualitative and quantitative factors including the investee's financial metrics, product and commercial outlook and cash usage . All gains and losses on marketable and non-marketable equity securities, realized and unrealized, are recognized in other, net on the 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 consolidated statements of operations.
Research And Development	Research and Development We record all research and development expenses in the period we incur them.
Foreign Currency	Foreign Currency The consolidated financial statements of our non-U.S. subsidiaries, whose functional currencies are other than the U.S. dollar, are translated into U.S. dollars for financial reporting purposes. We translate assets and liabilities of non-U.S. subsidiaries whose functional currencies are other than the U.S. dollar at period end exchange rates, but translate revenue and expense transactions at average exchange rates for the period. We recognize cumulative translation adjustments as part of comprehensive income, as detailed in the consolidated statements of comprehensive income, and include those adjustments in accumulated other comprehensive income in the consolidated balance sheets until such time the relevant subsidiary is sold or substantially or completely liquidated. We reflect gains and losses on transactions denominated in other than the functional currency of an entity in our results of operations.
Foreign Exchange Risk Management	Foreign Exchange Risk Management We transact business in various foreign currencies, including a number of major European currencies as well as the Australian and Singapore dollars. We have significant foreign currency exposure through both our Australian and Singaporean manufacturing activities, and international sales operations. We have established a foreign currency hedging program using purchased currency options and forward contracts to hedge foreign-currency-denominated financial assets, liabilities and manufacturing cash flows. The terms of such foreign currency hedging contracts generally do not exceed three years. The goal of this hedging program is to economically manage the financial impact of foreign currency exposures denominated mainly in Euros, Australian and Singapore dollars. Under this program, increases or decreases in our foreign currency denominated financial assets, liabilities, and firm commitments are partially offset by gains and losses on the hedging instruments. We do not designate these foreign currency contracts as hedges. We have determined our hedge program to be a non-effective hedge as defined under the FASB issued authoritative guidance. All movements in the fair value of the foreign currency instruments are recorded within other income, net in our consolidated statements of income and through changes in our operating assets and liabilities within our consolidated statements of cash flows. We classify purchases of foreign currency derivatives and proceeds received from the exercise of foreign currency derivatives as an investing activity within our consolidated statements of cash flows. We do not enter into financial instruments for trading or speculative purposes. We held foreign currency instruments with notional amounts totaling $ 556.4 million and $ 495.2 million at June 30, 2021 and June 30, 2020, respectively, to hedge foreign currency fluctuations. These contracts mature at various dates prior to June 30, 2023.
Income Taxes	Income Taxes We account for income taxes under the asset and liability method. We recognize deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. We measure deferred tax assets and liabilities using the enacted tax rates we expect to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. We recognize the impact of a tax position in the consolidated financial statements only if that position is more likely than not of being sustained upon examination by taxing authorities, based on the technical merits of the position. Any interest and penalties related to uncertain tax positions are reflected in income tax expense.
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.
Allowance For Credit Losses	Allowance for Credit Losses We maintain an allowance for credit losses on customer receivables based on our historical write-off experience, an assessment of our customers’ financial conditions and available information that is relevant to assessing the collectability of cash flows, which includes current conditions and forecasts about future economic conditions. Customer receivables are charged against the allowance when they are deemed uncollectible. Refer to Note 3(b) below for information regarding our adoption of the credit loss standard effective July 1, 2020 . We are also contingently liable, within certain limits, in the event of a customer default, to independent financing companies in connection with customer financing programs. We monitor the collection status of these installment receivables and provide for estimated losses separately under accrued expenses within our consolidated balance sheets based upon our historical collection experience with such receivables and a current assessment of our credit exposure.
Impairment Of Long-Lived Assets	Impairment of Long-Lived Assets We periodically evaluate the carrying value of long-lived assets to be held and used, including certain identifiable intangible assets, when events and circumstances indicate that the carrying amount of an asset may not be recovered. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If assets are considered to be impaired, we recognize as the impairment the amount by which the carrying amount of the assets exceeds the fair value of the assets. We report assets to be disposed of at the lower of the carrying amount or fair value less costs to sell. We did not recognize impairment charges in relation to long-lived assets during the fiscal years ended June 30, 2021, 2020 and 2019.
Contingencies	Contingencies We record a liability in the consolidated financial statements for loss contingencies when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a loss is reasonably possible but not known or probable, and can be reasonably estimated, the estimated loss or range of loss is disclosed. When determining the estimated loss or range of loss, significant judgment is required to estimate the amount and timing of a loss to be recorded.

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2021
Summary Of Significant Accounting Policies [Abstract]
Summary Of Contract Balances	2021 2020 Balance sheet caption Contract assets Accounts receivable, net $ 614,292 $ 474,643 Accounts receivable, net Unbilled revenue, current 10,893 9,452 Prepaid expenses and other current assets Unbilled revenue, non-current 6,214 6,957 Prepaid taxes and other non-current assets Contract liabilities Deferred revenue, current ( 109,611 ) ( 98,617 ) Deferred revenue (current liabilities) Deferred revenue, non-current ( 91,496 ) ( 87,307 ) Deferred revenue (non-current liabilities)
Schedule Of Components Of Lease Revenue	2021 2020 Sales-type lease revenue $ 9,758 $ 13,457 Operating lease revenue 93,431 87,874 Total lease revenue $ 103,189 $ 101,331

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	12 Months Ended
	Jun. 30, 2021
Supplemental Balance Sheet Information [Abstract]
Schedule Of Inventories	Inventories 2021 2020 Raw materials $ 155,419 $ 128,096 Work in progress 4,647 2,807 Finished goods 296,967 286,012 Total inventories $ 457,033 $ 416,915
Components Of Property, Plant And Equipment	Property, Plant and Equipment 2021 2020 Machinery and equipment $ 349,022 $ 285,287 Computer equipment 194,386 188,036 Furniture and fixtures 54,435 54,275 Vehicles 5,959 5,513 Clinical, demonstration and rental equipment 110,620 95,860 Leasehold improvements 77,392 60,490 Land 54,458 51,803 Buildings 239,357 227,902 Property, plant and equipment, at cost $ 1,085,629 $ 969,166 Accumulated depreciation and amortization ( 622,139 ) ( 551,831 ) Property, plant and equipment, net $ 463,490 $ 417,335
Schedule Of Other Intangible Assets, Net	2021 2020 Developed/core product technology $ 383,319 $ 382,806 Accumulated amortization ( 239,049 ) ( 197,670 ) Developed/core product technology, net 144,270 185,136 Customer relationships 272,703 279,370 Accumulated amortization ( 90,976 ) ( 80,922 ) Customer relationships, net 181,727 198,448 Other intangibles 197,662 177,091 Accumulated amortization ( 131,077 ) ( 112,507 ) Other intangibles, net 66,585 64,584 Total other intangibles, net $ 392,582 $ 448,168

Goodwill And Other Intangible_2

Goodwill And Other Intangible Assets (Tables)	12 Months Ended
	Jun. 30, 2021
Goodwill And Other Intangible Assets [Abstract]
Schedule Of Changes In Carrying Amount Of Goodwill	2021 Sleep and Respiratory Care SaaS Total Balance at the beginning of the period $ 614,448 $ 1,275,876 $ 1,890,324 Business acquisitions 5,829 18,842 24,671 Foreign currency translation adjustments 12,906 - 12,906 Balance at the end of the period $ 633,183 $ 1,294,718 $ 1,927,901
Schedule Of Amortization Expense Related To Identifiable Intangible Assets, Including Patents	Fiscal Years Ending June 30 2022 2023 2024 2025 2026 Estimated amortization expense $ 75,009 $ 58,028 $ 54,211 $ 49,741 $ 44,556

Investments (Tables)

Investments (Tables)	12 Months Ended
	Jun. 30, 2021
Investments [Abstract]
Schedule Of Investments	Measurement category 2021 2020 Fair value $ 29,084 $ - Measurement alternative 23,002 30,033 Equity method 17,154 14,109 Total $ 69,240 $ 44,142
Schedule Of Changes In Equity Investments	The following table shows a reconciliation of the changes in our equity investments for the year ended June 30, 2021 (in thousands): 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 14,250 21,788 Observable price adjustments on non-marketable equity securities 1,000 - - 1,000 Ongoing mark-to-market adjustments on marketable equity securities - 13,515 - 13,515 Reclassifications (1) ( 10,569 ) 10,569 - - Loss attributable to equity method investments - - ( 11,205 ) ( 11,205 ) Carrying value at the end of the period $ 23,002 $ 29,084 $ 17,154 $ 69,240 (1) During the year ended June 30, 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. The following table shows a reconciliation of the changes in our equity investments for the year ended June 30, 2020 (in thousands): 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 - - ( 25,058 ) ( 25,058 ) Carrying value at the end of the period $ 30,033 $ - $ 14,109 $ 44,142

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Jun. 30, 2021
Accrued Expenses [Abstract]
Schedule Of Accrued Expenses	2021 2020 Product warranties (note 8) $ 22,032 $ 21,132 Consulting and professional fees 21,246 18,740 Value added taxes and other taxes due 26,542 26,627 Employee related costs 199,917 148,383 Liability on receivables sold with recourse (note 17) 8,163 6,647 Accrued interest 8,338 8,313 Logistics and occupancy costs 14,954 6,350 Inventory in transit 7,146 21,679 Other 12,261 12,482 Total accrued expenses $ 320,599 $ 270,353

Product Warranties (Tables)

Product Warranties (Tables)	12 Months Ended
	Jun. 30, 2021
Product Warranties [Abstract]
Schedule Of Changes In Liability For Warranty Costs	2021 2020 Balance at the beginning of the period $ 21,132 $ 19,625 Warranty accruals for the period 14,366 14,167 Warranty costs incurred for the period ( 14,858 ) ( 12,229 ) Foreign currency translation adjustments 1,392 ( 431 ) Balance at the end of the period $ 22,032 $ 21,132

Debt (Tables)

Debt (Tables)	12 Months Ended
	Jun. 30, 2021
Debt [Abstract]
Schedule Of Debt	2021 2020 Short-term debt $ 12,000 $ 12,000 Deferred borrowing costs - ( 13 ) Short-term debt, net 12,000 11,987 - Long-term debt $ 646,000 $ 1,168,000 Deferred borrowing costs ( 2,649 ) ( 3,867 ) Long-term debt, net $ 643,351 $ 1,164,133 Total debt $ 655,351 $ 1,176,120

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Schedule Of Future Minimum Lease Payments	Total 2022 2023 2024 2025 2026 Thereafter Minimum lease payments $ 158,247 $ 27,272 $ 23,163 $ 16,680 $ 13,564 $ 13,168 $ 64,400 Less: imputed interest ( 19,883 ) Total lease liabilities $ 138,364
Schedule Of Operating Lease Disclosure	2021 2020 Weighted-average inputs: Weighted-average remaining lease term (years) 8.5 9.1 Weighted-average discount rate 3.0 % 3.2 % Cash flow information: Operating cash flows paid for amounts included in the measurement of lease liabilities $ 27,734 $ 24,104 Right of use assets obtained in exchange for new lease liabilities: $ 36,130 $ 51,663
Schedule Of Components Of Lease Revenue	2021 2020 Sales-type lease revenue $ 9,758 $ 13,457 Operating lease revenue 93,431 87,874 Total lease revenue $ 103,189 $ 101,331
Schedule Of Sales-type Lease, Net Investment In Lease	2021 2020 Accounts receivable, net $ 8,026 $ 7,697 Prepaid taxes and other non-current assets 6,214 6,957 Total $ 14,240 $ 14,654
Schedule Of Maturities Of Sales-type Leases	Total 2022 2023 2024 2025 2026 Thereafter Remaining lease payments $ 15,596 $ 8,378 $ 5,173 $ 1,699 $ 174 $ 172 $ - Less: imputed interest ( 1,356 ) Present value of remaining lease payments $ 14,240

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Jun. 30, 2021
Stockholders' Equity [Abstract]
Schedule Of Option Activity	Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term in Years Outstanding at beginning of period 1,068 $ 89.05 4.4 Granted 56 210.18 Exercised ( 64 ) 62.05 Forfeited - - Outstanding at end of period 1,060 $ 97.01 3.7 Options exercisable at end of period 804 $ 82.11 3.2 Options vested and expected to vest at end of period 1,050 $ 96.37 3.7
Schedule Of Activity Of Restricted Stock Units	Restricted Stock Units Weighted Average Grant-Date Fair Value Weighted Average Remaining Contractual Term in Years Outstanding at beginning of period 1,132 $ 103.77 1.6 Granted 277 209.02 Vested* ( 704 ) 84.87 Performance factor adjustment 209 - Expired / cancelled ( 34 ) 119.64 Forfeited ( 5 ) 119.64 Outstanding at end of period 875 $ 145.19 1.5 * Includes 235 thousand shares netted for tax.
Schedule Of Assumptions For Fair Value Of Stock Option Plans And Purchase Rights Granted	2021 2020 2019 Stock options: Weighted average grant date fair value $ 53.67 $ 32.14 $ 21.92 Weighted average risk-free interest rate 0.37 % 1.58 % 2.96 % Expected life in years 4.9 4.9 4.9 Dividend yield 0.75 % 1.07 % 1.34 % - 1.46 % Expected volatility 31 % 25 % 23 % ESPP purchase rights: Weighted average grant date fair value $ 48.18 $ 31.82 $ 22.12 Weighted average risk-free interest rate 0.1 % 1.6 % 2.4 % Expected life in years 6 months 6 months 6 months Dividend yield 0.79 % - 0.98 % 0.98 % - 1.42 % 1.40 % - 1.47 % Expected volatility 30 % - 60 % 23% - 60% 23 %
Schedule Of Total Stock-Based Compensation Costs Incurred And Associated Tax Benefit Recognized	2021 2020 2019 Cost of sales $ 4,153 $ 3,703 $ 3,043 Selling, general and administrative expenses 51,727 47,265 42,700 Research and development expenses 8,047 6,591 6,330 Stock-based compensation costs 63,927 57,559 52,073 Tax benefit ( 23,346 ) ( 39,534 ) ( 26,658 ) Stock-based compensation costs, net of tax benefit $ 40,581 $ 18,025 $ 25,415

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule Of Basic And Diluted Earnings Per Share	2021 2020 2019 Numerator: Net income $ 474,505 $ 621,674 $ 404,592 Denominator: Basic weighted-average common shares outstanding 145,313 144,338 143,111 Effect of dilutive securities: Stock options and restricted stock units 1,138 1,314 1,373 Diluted weighted average shares 146,451 145,652 144,484 Basic earnings per share $ 3.27 $ 4.31 $ 2.83 Diluted earnings per share $ 3.24 $ 4.27 $ 2.80

Other, Net (Tables)

Other, Net (Tables)	12 Months Ended
	Jun. 30, 2021
Other, Net [Abstract]
Schedule Of Other Net Income	2021 2020 2019 Gain (loss) on foreign currency transactions and hedging, net $ ( 753 ) $ 1,331 $ 1,712 Unrealized gains (losses) on investments (note 6) 14,515 (14,519) (15,007) Other 1,054 1,031 2,569 Total Other, net $ 14,816 $ ( 12,157 ) $ ( 10,726 )

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2021
Income Taxes [Abstract]
Schedule Of Income Before Income Taxes Under The Jurisdictions	2021 2020 2019 U.S. $ 71,867 $ 60,548 $ ( 34,468 ) Non-U.S. 811,795 672,540 553,315 Income before income taxes $ 883,662 $ 733,088 $ 518,847
Schedule Of Provision For Income Taxes	2021 2020 2019 Current: Federal $ ( 115,109 ) $ 9,790 $ 28,658 State 9,041 6,898 7,595 Non-U.S. 531,812 124,602 127,540 425,744 141,290 163,793 Deferred: Federal ( 22,791 ) ( 13,000 ) ( 30,456 ) State ( 4,205 ) ( 3,335 ) ( 5,408 ) Non-U.S. 10,409 ( 13,541 ) ( 13,674 ) ( 16,587 ) ( 29,876 ) ( 49,538 ) Provision for income taxes $ 409,157 $ 111,414 $ 114,255
Schedule Of Provision For Income Tax Differ From The Amount Of Income Tax	2021 2020 2019 Taxes computed at statutory U.S. rate $ 185,569 $ 153,949 $ 108,958 Increase (decrease) in income taxes resulting from: State income taxes, net of U.S. tax benefit 4,836 3,563 2,186 Research and development credit ( 20,257 ) ( 13,595 ) ( 12,953 ) Change in valuation allowance ( 3,785 ) 7,216 ( 1,118 ) Effect of non-U.S. tax rates ( 12,130 ) ( 20,935 ) 25,045 Foreign tax credits ( 7,210 ) ( 4,026 ) ( 7,806 ) Stock-based compensation expense ( 4,498 ) ( 20,696 ) ( 11,534 ) Uncertain tax position 248,773 - - Transition tax - - 6,038 Other 17,859 5,938 5,439 Provision for income taxes $ 409,157 $ 111,414 $ 114,255
Schedule Of Deferred Tax Assets And Liabilities Classified As Current And Non-Current	2021 2020 Non-current deferred tax asset $ 79,904 $ 41,065 Non-current deferred tax liability ( 11,319 ) ( 13,011 ) Net deferred tax asset $ 68,585 $ 28,054
Components Of Deferred Tax Assets And Liabilities	2021 2020 Deferred tax assets: Employee liabilities $ 30,080 $ 21,272 Tax credit carry overs 13,753 9,295 Inventories 11,734 9,129 Provision for warranties 4,149 3,585 Provision for doubtful debts 7,334 6,594 Net operating loss carryforwards 33,377 38,035 Capital loss carryover 6,912 10,864 Stock-based compensation expense 6,080 6,035 Deferred revenue 17,839 15,343 Research and development capitalization 58,789 39,195 Lease liabilities 25,751 - Other ( 5,851 ) ( 3,006 ) 209,947 156,341 Less valuation allowance ( 13,106 ) ( 16,891 ) Deferred tax assets 196,841 139,450 Deferred tax liabilities: Goodwill and other intangibles ( 104,563 ) ( 111,396 ) Right of use assets ( 23,693 ) - Deferred tax liabilities ( 128,256 ) ( 111,396 ) Net deferred tax asset $ 68,585 $ 28,054

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Jun. 30, 2021
Segment Information [Abstract]
Summary Of Revenue By Segment And Reconciling Items	2021 2020 2019 Net revenue by segment Total Sleep and Respiratory Care $ 2,823,235 $ 2,602,381 $ 2,330,783 Software as a Service 373,590 356,734 281,137 Deferred revenue fair value adjustment (1) - ( 2,102 ) ( 5,348 ) Total Software as a Service 373,590 354,632 275,789 Total $ 3,196,825 $ 2,957,013 $ 2,606,572 Depreciation and amortization by segment Sleep and Respiratory Care $ 73,151 $ 69,444 $ 70,094 Software as a Service 5,230 3,850 3,250 Amortization of acquired intangible assets and corporate assets 78,377 81,556 77,451 Total $ 156,758 $ 154,850 $ 150,795 Net operating profit by segment Sleep and Respiratory Care $ 1,036,712 $ 934,697 $ 766,068 Software as a Service 93,037 82,152 74,886 Total $ 1,129,749 $ 1,016,849 $ 840,954 Reconciling items Corporate costs $ 141,193 $ 125,993 $ 124,682 Amortization of acquired intangible assets 76,205 79,695 74,938 Restructuring expenses 8,673 - 9,401 Litigation settlement expenses - ( 600 ) 41,199 Acquisition related expenses - - 6,123 Deferred revenue fair value adjustment (1) - 2,102 5,348 Interest expense (income), net 23,627 39,356 33,857 Loss attributable to equity method investments 11,205 25,058 15,833 Other, net ( 14,816 ) 12,157 10,726 Income before income taxes $ 883,662 $ 733,088 $ 518,847 (1) The deferred revenue fair value adjustment is a purchase price accounting adjustment related to MatrixCare which was acquired on November 13, 2018.
Schedule Of Revenue By Segment, Product, And Region	2021 2020 2019 U.S., Canada and Latin America Devices $ 863,661 $ 792,766 $ 743,066 Masks and other 841,452 779,561 677,430 Total Sleep and Respiratory Care $ 1,705,113 $ 1,572,327 $ 1,420,496 Software as a Service 373,590 354,632 275,789 Total $ 2,078,703 $ 1,926,959 $ 1,696,285 Combined Europe, Asia and other markets Devices $ 746,379 $ 715,056 $ 618,525 Masks and other 371,743 314,998 291,762 Total Sleep and Respiratory Care $ 1,118,122 $ 1,030,054 $ 910,287 Global revenue Devices $ 1,610,040 $ 1,507,822 $ 1,361,591 Masks and other 1,213,195 1,094,559 969,192 Total Sleep and Respiratory Care $ 2,823,235 $ 2,602,381 $ 2,330,783 Software as a Service 373,590 354,632 275,789 Total $ 3,196,825 $ 2,957,013 $ 2,606,572
Schedule Of Revenue By Geographic Area	2021 2020 2019 United States $ 1,962,721 $ 1,828,575 $ 1,588,655 Rest of the World 1,234,104 1,128,438 1,017,917 Total $ 3,196,825 $ 2,957,013 $ 2,606,572
Schedule Of Long-Lived Assets By Geographic Areas	2021 2020 Australia 186,289 162,490 United States $ 159,815 $ 164,155 Singapore 64,182 39,977 Rest of the World 53,204 50,713 Total $ 463,490 $ 417,335

Legal Actions, Contingencies _2

Legal Actions, Contingencies And Commitments (Tables)	12 Months Ended
	Jun. 30, 2021
Legal Actions, Contingencies And Commitments [Abstract]
Obligations Under Purchase Agreements	Fiscal Years Ending June 30 Total 2022 2023 2024 2025 2026 Thereafter Minimum purchase obligations $ 1,100,839 $ 1,099,419 $ 994 $ 426 $ - $ - $ -

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Jun. 30, 2021
Business Combinations [Abstract]
Pro Forma Information	2019 Revenue $ 2,652,059 Net income $ 446,721 Basic earnings per share $ 3.12 Diluted earnings per share $ 3.09

Summary Of Significant Accoun_4

Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Summary Of Significant Accounting Policies [Line Items]
Depreciation	$ 78,400,000	$ 65,600,000	$ 65,900,000
Impairment of intangible assets	0
Impairment of goodwill	0	0
Foreign currency instruments with notional amounts	556,400,000	495,200,000
Lease liabilities	138,364,000
Adjustment to retained earnings	2,885,679,000	2,497,027,000	2,072,193,000	$ 2,058,980,000
Retained Earnings [Member]
Summary Of Significant Accounting Policies [Line Items]
Adjustment to retained earnings	$ 3,079,640,000	$ 2,832,991,000	2,436,410,000	$ 2,432,328,000
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue recognized, term	1 year
Estimated useful life of property, plant and equipment, years	2 years
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue recognized, term	5 years
Estimated useful life of property, plant and equipment, years	10 years
Buildings [Member]
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of property, plant and equipment, years	40 years
Cumulative Effect Of Change In Accounting Standards [Member]
Summary Of Significant Accounting Policies [Line Items]
Adjustment to retained earnings	$ (1,143,000)		(188,798,000)
Cumulative Effect Of Change In Accounting Standards [Member] | Retained Earnings [Member]
Summary Of Significant Accounting Policies [Line Items]
Adjustment to retained earnings	$ (1,143,000)		$ (188,798,000)

Summary Of Significant Accoun_5

Summary Of Significant Accounting Policies (Summary Of Contract Balances) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Contract assets
Accounts receivable, net	$ 614,292	$ 474,643
Contract liabilities
Deferred revenue, current	(109,611)	(98,617)
Deferred revenue, non-current	(91,496)	(87,307)
Accounts Receivable, Net [Member]
Contract assets
Accounts receivable, net	614,292	474,643
Prepaid Taxes And Other Non Current Assets [Member]
Contract assets
Unbilled revenue, current	10,893	9,452
Unbilled revenue, non-current	$ 6,214	$ 6,957

New Accounting Pronouncements (

New Accounting Pronouncements (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
New Accounting Pronouncements [Abstract]
Operating lease ROU assets	$ 128,575	$ 118,348
Lease liabilities	$ 138,364

New Accounting Pronouncements_2

New Accounting Pronouncements (Summary Of Reconciliation Of Amortization Of Acquired Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
New Accounting Pronouncements [Abstract]
Amortization of intangible assets	$ 45,127	$ 49,603	$ 42,514

New Accounting Pronouncements_3

New Accounting Pronouncements (Summary Of Reconciliation Of Gross Profit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
New Accounting Pronouncements [Abstract]
Amortization of intangible assets related to cost of sales	$ (45,127)	$ (49,603)	$ (42,514)
Gross profit	$ 1,839,100	$ 1,717,786	$ 1,494,071

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Supplemental Balance Sheet Information [Abstract]
Raw materials	$ 155,419	$ 128,096
Work in progress	4,647	2,807
Finished goods	296,967	286,012
Total inventories	$ 457,033	$ 416,915

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information (Components Of Property, Plant And Equipment) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	$ 1,085,629	$ 969,166
Accumulated depreciation and amortization	(622,139)	(551,831)
Property, plant and equipment, net	463,490	417,335
Machinery And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	349,022	285,287
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	194,386	188,036
Furniture And Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	54,435	54,275
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	5,959	5,513
Clinical, Demonstration And Rental Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	110,620	95,860
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	77,392	60,490
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	54,458	51,803
Buildings [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	$ 239,357	$ 227,902

Supplemental Balance Sheet In_5

Supplemental Balance Sheet Information (Schedule Of Other Intangible Assets, Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Total other intangibles, net	$ 392,582	$ 448,168
Developed/Core Product Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangibles, gross	383,319	382,806
Accumulated amortization	(239,049)	(197,670)
Total other intangibles, net	144,270	185,136
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangibles, gross	272,703	279,370
Accumulated amortization	(90,976)	(80,922)
Total other intangibles, net	181,727	198,448
Other Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Other intangibles, gross	197,662	177,091
Accumulated amortization	(131,077)	(112,507)
Total other intangibles, net	$ 66,585	$ 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 And Other Intangible_3

Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Finite-Lived Intangible Assets [Line Items]
Impairment of goodwill	$ 0	$ 0
Amortization expense	45,127,000	49,603,000	$ 42,514,000
Identified Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense	76,200,000	79,700,000
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 5,300,000	$ 8,300,000
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 And Other Intangible_4

Goodwill And Other Intangible Assets (Schedule Of Changes In Carrying Amount Of Goodwill) (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2021USD ($)
Balance at the beginning of the period	$ 1,890,324
Business acquisitions	24,671
Foreign currency translation adjustments	12,906
Balance at the end of the period	1,927,901
Sleep And Respiratory Care [Member]
Balance at the beginning of the period	614,448
Business acquisitions	5,829
Foreign currency translation adjustments	12,906
Balance at the end of the period	633,183
Saas [Member]
Balance at the beginning of the period	1,275,876
Business acquisitions	18,842
Foreign currency translation adjustments
Balance at the end of the period	$ 1,294,718

Goodwill And Other Intangible_5

Goodwill And Other Intangible Assets, Net (Schedule Of Amortization Expense Related To Identifiable Intangible Assets, Including Patents) (Details) $ in Thousands	Jun. 30, 2021USD ($)
Goodwill And Other Intangible Assets [Abstract]
2022	$ 75,009
2023	58,028
2024	54,211
2025	49,741
2026	$ 44,556

Investments (Schedule Of Invest

Investments (Schedule Of Investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Investments [Abstract]
Fair value	$ 29,084
Measurement alternative	23,002	$ 30,033
Equity method	17,154	14,109
Total	$ 69,240	$ 44,142

Investments (Schedule Of Change

Investments (Schedule Of Changes In Equity Investments) (Details) - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Balance at the beginning of the period		$ 44,142	$ 52,103
Investments		21,788	31,616
Observable price adjustments on non-marketable equity securities		1,000
Ongoing mark-to-market adjustments on marketable equity securities		13,515
Reclassifications	[1]
Impairment of investments			(14,519)
Loss attributable to equity method investments		(11,205)	(25,058)	$ (15,833)
Carrying value at the end of the period		69,240	44,142	52,103
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	30,436
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		13,515
Reclassifications	[1]	10,569
Impairment of investments
Loss attributable to equity method investments
Carrying value at the end of the period		29,084
Equity Method Investments [Member]
Balance at the beginning of the period		14,109	21,667
Investments		14,250	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		(11,205)	(25,058)
Carrying value at the end of the period		$ 17,154	$ 14,109	$ 21,667
[1]	During the year ended June 30, 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.

Accrued Expenses (Schedule Of A

Accrued Expenses (Schedule Of Accrued Expenses) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Accrued Expenses [Abstract]
Product warranties (note 8)	$ 22,032	$ 21,132
Consulting and professional fees	21,246	18,740
Value added taxes and other taxes due	26,542	26,627
Employee related costs	199,917	148,383
Liability on receivables sold with recourse (note 17)	8,163	6,647
Accrued interest	8,338	8,313
Logistics and occupancy costs	14,954	6,350
Inventory in transit	7,146	21,679
Other	12,261	12,482
Total accrued expenses	$ 320,599	$ 270,353

Product Warranties (Schedule Of

Product Warranties (Schedule Of Changes In Liability For Warranty Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Product Warranties [Abstract]
Balance at the beginning of the period	$ 21,132	$ 19,625
Warranty accruals for the period	14,366	14,167
Warranty costs incurred for the period	(14,858)	(12,229)
Foreign currency translation adjustments	1,392	(431)
Balance at the end of the period	$ 22,032	$ 21,132

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	Nov. 05, 2018	Apr. 17, 2018	Jun. 30, 2021	Jun. 30, 2020	Jul. 10, 2019	Nov. 04, 2018
Debt Instrument [Line Items]
Debt to consolidated EBITDA ratio			3.50
Outstanding debt			$ 655,351,000	$ 1,176,120,000
Outstanding loan balance			643,351,000	1,164,133,000
Revolving Credit Facility And Term Credit Agreement [Member]
Debt Instrument [Line Items]
Available for draw			1,600,000,000
Principal payment			6,000,000
Long-term debt, fair value			$ 158,000,000	$ 680,000,000
MUFG Union Bank [Member] | ResMed Limited [Member] | Revolving Credit Facility And Term Credit Agreement [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	$ 1,600,000,000	800,000,000				$ 800,000,000
Uncommitted option to increase credit facility	$ 300,000,000	$ 300,000,000
MUFG Union Bank, N.A. and Westpac Banking Corporation [Member] | Revolving Credit Facility And Term Credit Agreement [Member]
Debt Instrument [Line Items]
Interest rate on outstanding principal amount			0.90%
Minimum [Member] | Revolving Credit Facility And 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] | Revolving Credit Facility And Term Credit Agreement [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Credit facility interest rate equal to reference rate plus			0.00%
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%
Maximum [Member] | Revolving Credit Facility And 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] | Revolving Credit Facility And Term Credit Agreement [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Credit facility interest rate equal to reference rate plus			0.50%
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%
Senior Notes [Member]
Debt Instrument [Line Items]
Outstanding loan balance			$ 500,000,000
Long-term debt, fair value			$ 530,400,000
3.24% Senior Notes Due July 10, 2026 [Member]
Debt Instrument [Line Items]
Principal amount					$ 250,000,000
Interest rate			3.24%
3.45% Senior Notes Due July 10, 2029 [Member]
Debt Instrument [Line Items]
Principal amount					$ 250,000,000
Interest rate			3.45%
Revolving Credit Agreement, Term Credit Agreement, And Senior Notes [Member]
Debt Instrument [Line Items]
Outstanding debt			$ 658,000,000

Debt (Schedule Of Debt) (Detail

Debt (Schedule Of Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Debt [Abstract]
Short-term debt	$ 12,000	$ 12,000
Deferred borrowing costs		(13)
Short-term debt, net	12,000	11,987
Long-term debt	646,000	1,168,000
Deferred borrowing costs	(2,649)	(3,867)
Long-term debt, net	643,351	1,164,133
Total debt	$ 655,351	$ 1,176,120

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating lease costs	$ 35.5	$ 26.5
Operating lease commitments not yet commenced	$ 0.6
Maximum [Member]
Lease terms	15 years
Lease terms, not yet commenced	3 years
Minimum [Member]
Lease terms	1 year
Lease terms, not yet commenced	2 years

Leases (Schedule Of Future Mini

Leases (Schedule Of Future Minimum Lease Payments) (Details) $ in Thousands	Jun. 30, 2021USD ($)
Leases [Abstract]
2022	$ 27,272
2023	23,163
2024	16,680
2025	13,564
2026	13,168
Thereafter	64,400
Total minumum lease payments	158,247
Less: imputed interest	(19,883)
Total lease liabilities	$ 138,364

Leases (Schedule Of Operating L

Leases (Schedule Of Operating Lease Disclosure) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Weighted-average remaining lease term (years)	8 years 6 months	9 years 1 month 6 days
Weighted-average discount rate	3.00%	3.20%
Operating cash flows paid for amounts included in the measurement of lease liabilities	$ 27,734	$ 24,104
Right of use assets obtained in exchange for new lease liabilities	$ 36,130	$ 51,663

Leases (Schedule Of Components

Leases (Schedule Of Components Of Lease Revenue) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Sales-type lease revenue	$ 9,758	$ 13,457
Operating lease revenue	93,431	87,874
Total lease revenue	$ 103,189	$ 101,331

Leases (Schedule Of Sales-type

Leases (Schedule Of Sales-type Lease, Net Investment In Lease) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Accounts receivable, net	$ 8,026	$ 7,697
Prepaid taxes and other non-current assets	6,214	6,957
Total	$ 14,240	$ 14,654

Leases (Schedule Of Maturities

Leases (Schedule Of Maturities Of Sales-type Leases) (Details) $ in Thousands	Jun. 30, 2021USD ($)
Leases [Abstract]
2022	$ 8,378
2023	5,173
2024	1,699
2025	174
2026	172
Total remaining lease payments	15,596
Less: imputed interest	(1,356)
Present value of remaining lease payments	$ 14,240

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details)	Nov. 30, 2017USD ($)shares	Nov. 30, 2017USD ($)shares	Jun. 30, 2021USD ($)item$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	Jun. 30, 2019USD ($)shares	Feb. 21, 2014shares	Apr. 30, 1997$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized to be repurchased under repurchase program | shares						20,000,000
Cost of common shares repurchased | $					$ 22,845,000
Total number of shares repurchased pursuant to the repurchase program | shares			41,836,234	41,836,234
Total cost of shares repurchased pursuant to the repurchase program | $			$ 1,623,256,000	$ 1,623,256,000
Additional shares that can be repurchased under the approved share repurchase program | shares			12,900,000
Preferred stock, shares authorized | shares			2,000,000	2,000,000			2,000,000
Preferred stock at par value | $ / shares			$ 0.01	$ 0.01			$ 0.01
Preferred stock, shares issued | shares			0	0
Preferred stock, shares outstanding | shares			0
Expiration period			7 years
Reduction in the number of shares of common stock available for issuance			2.8
Maximum number of shares subject to awards granted | shares			3,000,000
Number of common stock shares granted in participant's initial year of hiring | shares			4,500,000
Fair value of RSUs and PRSUs | $			$ 59,600,000	$ 56,800,000	52,300,000
Aggregate intrinsic value of the options exercised | $			8,900,000	$ 31,200,000	$ 15,100,000
Aggregate intrinsic value of the stock-based compensation arrangements outstanding | $			158,500,000
Aggregate intrinsic value of the stock-based compensation arrangements exercisable | $			132,100,000
Aggregate intrinsic value of the stock-based compensation arrangements exercisable, vested and expected to vest | $			$ 157,600,000
Shares issued under Employee Stock Purchase Plan | shares			229,000	265,000	285,000
Number of offerings for Employee Stock Purchase Plan | item			2
Stock-based compensation expense | $			$ 63,927,000	$ 57,559,000	$ 52,073,000
Unrecognized compensation costs related to unvested stock-based compensation arrangements | $			$ 94,300,000
Expected weighted average period of unrecognized compensation costs related to unvested stock-based compensation arrangements			2 years 2 months 12 days
Treasury Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares repurchased under repurchase program | shares					200,000
Cost of common shares repurchased | $					$ 22,844,000
Total number of shares repurchased pursuant to the repurchase program | shares			41,800,000
Total cost of shares repurchased pursuant to the repurchase program | $			$ 1,600,000,000
Shares issued under Employee Stock Purchase Plan | shares
2009 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Extended period		4 years
Expiration date		Sep. 11, 2027
Common stock authorized for issuance | shares			51,100,000
Common stock authorized for issuance and pending registration | shares	7,400,000	7,400,000
Number of securities remaining available for future issuance | shares			15,500,000
Amended And Restated 2009 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum amount payable pursant to cash denominated performance awards granted | $	$ 3,000,000	$ 5,000,000
Amended And Restated 2009 Plan [Member] | Non Employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum award amount with other cash fees earned for services | $		700,000
Amended And Restated 2009 Plan [Member] | Board Of Directors Chairman [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum award amount with other cash fees earned for services | $		$ 1,200,000
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of securities remaining available for future issuance | shares			1,800,000
Percentage of purchase price of common stock lower than the fair market value of common stock on the date of grant			85.00%
Percentage of purchase price of common stock lower than the fair market value of common stock on the date of purchase			85.00%
Stock-based compensation expense | $			$ 10,900,000	$ 8,000,000	$ 6,400,000
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
Minimum [Member] | Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase program offering period			3 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Maximum [Member] | Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase program offering period			27 months
Common stock shares subscribed | $			$ 25,000
Performance Restricted Stock Units (PRSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Maximum amount to be issued under award, percentage			225.00%

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule Of Activity Of Restricted Stock Units) (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares		12 Months Ended
		Jun. 30, 2021	Jun. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock Units, Outstanding at beginning of period		1,132,000
Restricted Stock Units, Granted		277,000
Restricted Stock Units, Vested	[1]	(704,000)
Restricted Stock Units, Performance factor adjustment		(209,000)
Restricted Stock Units, Expired / cancelled		(34,000)
Restricted Stock Units, Forfeited		(5,000)
Restricted Stock Units, Outstanding at end of period		875,000	1,132,000
Weighted Average Grant-Date Fair Value, Outstanding at beginning of period		$ 103.77
Weighted Average Grant-Date Fair Value, Granted		209.02
Weighted Average Grant-Date Fair Value, Vested	[1]	84.87
Weighted Average Grant-Date Fair Value, Performance factor adjustments
Weighted Average Grant-Date Fair Value, Expired / cancelled		119.64
Weighted Average Grant-Date Fair Value, Forfeited		119.64
Weighted Average Grant-Date Fair Value, Outstanding at end of period		$ 145.19	$ 103.77
Weighted Average Remaining Contractual Term in Years, Outstanding		1 year 6 months	1 year 7 months 6 days
Exercisable shares, netted for tax		235
[1]	Includes 235 thousand shares netted for tax.

Stockholders' Equity (Schedul_2

Stockholders' Equity (Schedule Of Option Activity) (Details) - $ / shares shares in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Stockholders' Equity [Abstract]
Options, Outstanding at beginning of period	1,068
Options, Granted	56
Options, Exercised	(64)
Options, Forfeited
Options, Outstanding at end of period	1,060	1,068
Options exercisable at end of period	804
Options vested and expected to vest at end of period	1,050
Weighted Average Exercise Price, Outstanding at beginning of period	$ 89.05
Weighted Average Exercise Price, Granted	210.18
Weighted Average Exercise Price, Exercised	62.05
Weighted Average Exercise Price, Forfeited
Weighted Average Exercise Price, Outstanding at end of period	97.01	$ 89.05
Weighted Average Exercise Price, Options exercisable at end of period	82.11
Weighted Average Exercise Price, Options vested and expected to vest at end of period	$ 96.37
Weighted Average Remaining Contractual Term in Years, Outstanding at end of period	3 years 8 months 12 days	4 years 4 months 24 days
Weighted Average Remaining Contractual Term in Years, Options exercisable at end of period	3 years 2 months 12 days
Weighted Average Remaining Contractual Term in Years, Options vested and expected to vest at end of period	3 years 8 months 12 days

Stockholders' Equity (Schedul_3

Stockholders' Equity (Schedule Of Assumptions For Fair Value Of Stock Option Plans And Purchase Rights Granted) (Details) - $ / shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	31.00%	25.00%	23.00%
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value	$ 53.67	$ 32.14	$ 21.92
Weighted average risk-free interest rate	0.37%	1.58%	2.96%
Expected life in years	4 years 10 months 24 days	4 years 10 months 24 days	4 years 10 months 24 days
Dividend yield	0.75%
ESPP Purchase Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value	$ 48.18	$ 31.82	$ 22.12
Weighted average risk-free interest rate	0.10%	1.60%	2.40%
Expected life in years	6 months	6 months	6 months
Expected volatility			23.00%
Minimum [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield		1.07%	1.34%
Minimum [Member] | ESPP Purchase Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.79%	0.98%	1.40%
Expected volatility	30.00%
Maximum [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield			1.46%
Maximum [Member] | ESPP Purchase Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.98%	1.42%	1.47%
Expected volatility	60.00%

Stockholders' Equity (Schedul_4

Stockholders' Equity (Schedule Of Total Stock-Based Compensation Costs Incurred And Associated Tax Benefit Recognized) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation costs	$ 63,927	$ 57,559	$ 52,073
Tax benefit	(23,346)	(39,534)	(26,658)
Stock-based compensation costs, net of tax benefit	40,581	18,025	25,415
Cost of Sales [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation costs	4,153	3,703	3,043
Selling, General And Administrative Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation costs	51,727	47,265	42,700
Research And Development Expense [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation costs	$ 8,047	$ 6,591	$ 6,330

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Stock options and restricted stock units not included in the computation of diluted earnings per share	141,000	164,000	200,000

Earnings Per Share (Schedule Of

Earnings Per Share (Schedule Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net income (loss)	$ 474,505	$ 621,674	$ 404,592
Denominator:
Basic weighted-average common shares outstanding	145,313	144,338	143,111
Effect of dilutive securities:
Stock options and restricted stock units	1,138	1,314	1,373
Diluted weighted average shares	146,451	145,652	144,484
Basic earnings (loss) per share	$ 3.27	$ 4.31	$ 2.83
Diluted earnings (loss) per share	$ 3.24	$ 4.27	$ 2.80

Other, Net (Schedule Of Other N

Other, Net (Schedule Of Other Net Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Other, Net [Abstract]
Gain (loss) on foreign currency transactions and hedging, net	$ (753)	$ 1,331	$ 1,712
Unrealized gains (losses) on investments (note 6)	14,515	(14,519)	(15,007)
Other	1,054	1,031	2,569
Total Other, net	$ 14,816	$ (12,157)	$ (10,726)

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Income Taxes [Line Items]
Additional income tax benefits as an increase to earnings	$ 23,346	$ 39,534	$ 26,658
Penalties and interest	47,500
Income taxes paid	221,359	180,359	242,860
Unrecognized tax benefits	395,300
Tax credits and deductions	146,600
Income taxes payable	307,963	64,755
Income tax expense from transition tax	$ 531,812	$ 124,602	127,540
Payable period of additional tax expense	8 years
U.S. Federal income tax rate	21.00%	21.00%
Increase to net earnings from tax holidays and tax incentives program	$ 33,600	$ 43,800	$ 20,300
Increase to net earnings per diluted share from tax holidays and tax incentives program	$ 0.23	$ 0.30	$ 0.14
Additional tax expense			$ 6,038
Undistributed earnings	$ 3,200,000
Unrecognized tax benefits, if recognized, effects tax rate	248,700
Extraordinary Dispositions [Member]
Income Taxes [Line Items]
Amount of deferred taxes that would have been recognized if the earnings has not been permanently reinvested	202,600
Australian Taxation Office [Member]
Income Taxes [Line Items]
Income taxes paid	$ 98,800
Percentage of recognized tax benefit for uncertain tax position	50.00%
Australian Taxation Office [Member] | Tax Years 2009 to 2013 [Member]
Income Taxes [Line Items]
Tax liabilities related to assessments	$ 266,000
Additional income tax	151,700
Penalties and interest	114,300
Domestic Tax Authority [Member]
Income Taxes [Line Items]
Operating loss carryforwards	25,100
Amount of deferred taxes that would have been recognized if the earnings has not been permanently reinvested	5,100
Foreign Tax Authority [Member]
Income Taxes [Line Items]
Operating loss carryforwards	7,600
Tax cuts and jobs act, income tax expense (benefit)			$ 6,000
Valuation Allowance | Foreign Tax Authority [Member]
Income Taxes [Line Items]
Operating loss carryforwards	800
Capital loss	$ 12,300

Income Taxes (Schedule Of Incom

Income Taxes (Schedule Of Income Before Income Taxes Under The Jurisdictions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Income Taxes [Abstract]
U.S.	$ 71,867	$ 60,548	$ (34,468)
Non-U.S.	811,795	672,540	553,315
Income before income taxes	$ 883,662	$ 733,088	$ 518,847

Income Taxes (Schedule Of Provi

Income Taxes (Schedule Of Provision For Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Income Taxes [Abstract]
Current: Federal	$ (115,109)	$ 9,790	$ 28,658
Current: State	9,041	6,898	7,595
Current: Non-U.S.	531,812	124,602	127,540
Current, Total	425,744	141,290	163,793
Deferred: Federal	(22,791)	(13,000)	(30,456)
Deferred: State	(4,205)	(3,335)	(5,408)
Deferred: Non-U.S.	10,409	(13,541)	(13,674)
Deferred, Total	(16,587)	(29,876)	(49,538)
Provision for income taxes	$ 409,157	$ 111,414	$ 114,255

Income Taxes (Schedule Of Pro_2

Income Taxes (Schedule Of Provision For Income Tax Differ From The Amount Of Income Tax) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Income Taxes [Abstract]
Taxes computed at statutory U.S. rate	$ 185,569	$ 153,949	$ 108,958
State income taxes, net of U.S. tax benefit	4,836	3,563	2,186
Research and development credit	(20,257)	(13,595)	(12,953)
Change in valuation allowance	(3,785)	7,216	(1,118)
Effect of non-U.S. tax rates	(12,130)	(20,935)	25,045
Foreign tax credits	(7,210)	(4,026)	(7,806)
Stock-based compensation expense	(4,498)	(20,696)	(11,534)
Uncertain tax position	248,773
Transition tax			6,038
Other	17,859	5,938	5,439
Provision for income taxes	$ 409,157	$ 111,414	$ 114,255

Income Taxes (Schedule Of Defer

Income Taxes (Schedule Of Deferred Tax Assets And Liabilities Classified As Current And Non-Current) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Income Taxes [Abstract]
Non-current deferred tax asset	$ 79,904	$ 41,065
Non-current deferred tax liability	(11,319)	(13,011)
Net deferred tax asset	$ 68,585	$ 28,054

Income Taxes (Components Of Def

Income Taxes (Components Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Income Taxes [Abstract]
Employee liabilities	$ 30,080	$ 21,272
Tax credit carry overs	13,753	9,295
Inventories	11,734	9,129
Provision for warranties	4,149	3,585
Provision for doubtful debts	7,334	6,594
Net operating loss carryforwards	33,377	38,035
Capital loss carryover	6,912	10,864
Stock-based compensation expense	6,080	6,035
Deferred revenue	17,839	15,343
Research and development capitalization	58,789	39,195
Lease liabilities	25,751
Other	(5,851)	(3,006)
Deferred tax assets, Gross	209,947	156,341
Less valuation allowance	(13,106)	(16,891)
Deferred tax assets	196,841	139,450
Goodwill and other intangibles	(104,563)	(111,396)
Right of use assets	(23,693)
Deferred tax liabilities	(128,256)	(111,396)
Net deferred tax asset	$ 68,585	$ 28,054

Segment Information (Narrative)

Segment Information (Narrative) (Details)	12 Months Ended
	Jun. 30, 2021segment
Segment Information [Abstract]
Number of Reportable Segments	2

Segment Information (Summary Of

Segment Information (Summary Of Revenue By Segment And Reconciling Items) (Details) - USD ($)		12 Months Ended			36 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020
Segment Reporting Information [Line Items]
Net revenue		$ 3,196,825,000	$ 2,957,013,000	$ 2,606,572,000
Depreciation and amortization		156,758,000	154,850,000	150,795,000
Net operating profit by segment		903,678,000	809,659,000	579,263,000
Amortization of acquired intangible assets and corporate assets		31,078,000	30,092,000	32,424,000
Restructuring expenses		8,673,000		9,401,000
Litigation settlement expenses			(600,000)	41,199,000	$ 0
Acquisition related expenses		0
Interest income		(362,000)	(1,021,000)	(2,299,000)
Interest expense (income), net		23,989,000	40,377,000	36,156,000
Loss attributable to equity method investments		(11,205,000)	(25,058,000)	(15,833,000)
Other, net		14,816,000	(12,157,000)	(10,726,000)
Income before income taxes		883,662,000	733,088,000	518,847,000
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net operating profit by segment		1,129,749,000	1,016,849,000	840,954,000
Corporate Costs [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization		78,377,000	81,556,000	77,451,000
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Deferred revenue fair value adjustment	[1]		(2,102,000)	(5,348,000)
Corporate costs		141,193,000	125,993,000	124,682,000
Amortization of acquired intangible assets and corporate assets		76,205,000	79,695,000	74,938,000
Restructuring expenses		8,673,000		9,401,000
Litigation settlement expenses			(600,000)	41,199,000
Acquisition related expenses				6,123,000
Deferred revenue fair value adjustment	[1]		2,102,000	5,348,000
Interest expense (income), net		23,627,000	39,356,000	33,857,000
Loss attributable to equity method investments		11,205,000	25,058,000	15,833,000
Other, net		(14,816,000)	12,157,000	10,726,000
Income before income taxes		883,662,000	733,088,000	518,847,000
Sleep And Respiratory Care [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenue		2,823,235,000	2,602,381,000	2,330,783,000
Depreciation and amortization		73,151,000	69,444,000	70,094,000
Net operating profit by segment		1,036,712,000	934,697,000	766,068,000
Software As A Service Before Deferred Revenue Adjustment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenue		373,590,000	356,734,000	281,137,000
Software As A Service [Member]
Segment Reporting Information [Line Items]
Deferred revenue fair value adjustment	[1]		(2,102,000)	(5,348,000)
Deferred revenue fair value adjustment	[1]		2,102,000	5,348,000
Software As A Service [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net revenue		373,590,000	354,632,000	275,789,000
Depreciation and amortization		5,230,000	3,850,000	3,250,000
Net operating profit by segment		$ 93,037,000	$ 82,152,000	$ 74,886,000
[1]	The deferred revenue fair value adjustment is a purchase price accounting adjustment related to MatrixCare which was acquired on November 13, 2018.

Segment Information (Schedule O

Segment Information (Schedule Of Revenue By Segment, Product, And Region) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Net revenue	$ 3,196,825	$ 2,957,013	$ 2,606,572
U.S., Canada And Latin America [Member]
Net revenue	2,078,703	1,926,959	1,696,285
Global [Member]
Net revenue	3,196,825	2,957,013	2,606,572
Operating Segments [Member] | Devices [Member] | U.S., Canada And Latin America [Member]
Net revenue	863,661	792,766	743,066
Operating Segments [Member] | Devices [Member] | Combined Europe, Asia And Other Markets [Member]
Net revenue	746,379	715,056	618,525
Operating Segments [Member] | Devices [Member] | Global [Member]
Net revenue	1,610,040	1,507,822	1,361,591
Operating Segments [Member] | Masks And Other [Member] | U.S., Canada And Latin America [Member]
Net revenue	841,452	779,561	677,430
Operating Segments [Member] | Masks And Other [Member] | Combined Europe, Asia And Other Markets [Member]
Net revenue	371,743	314,998	291,762
Operating Segments [Member] | Masks And Other [Member] | Global [Member]
Net revenue	1,213,195	1,094,559	969,192
Operating Segments [Member] | Sleep And Respiratory Care [Member]
Net revenue	2,823,235	2,602,381	2,330,783
Operating Segments [Member] | Sleep And Respiratory Care [Member] | U.S., Canada And Latin America [Member]
Net revenue	1,705,113	1,572,327	1,420,496
Operating Segments [Member] | Sleep And Respiratory Care [Member] | Combined Europe, Asia And Other Markets [Member]
Net revenue	1,118,122	1,030,054	910,287
Operating Segments [Member] | Sleep And Respiratory Care [Member] | Global [Member]
Net revenue	2,823,235	2,602,381	2,330,783
Operating Segments [Member] | Software As A Service [Member]
Net revenue	373,590	354,632	275,789
Operating Segments [Member] | Software As A Service [Member] | U.S., Canada And Latin America [Member]
Net revenue	373,590	354,632	275,789
Operating Segments [Member] | Software As A Service [Member] | Global [Member]
Net revenue	$ 373,590	$ 354,632	$ 275,789

Segment Information (Schedule_2

Segment Information (Schedule Of Revenue By Geographic Area) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 3,196,825	$ 2,957,013	$ 2,606,572
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	1,962,721	1,828,575	1,588,655
Rest Of The World [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 1,234,104	$ 1,128,438	$ 1,017,917

Segment Information (Schedule_3

Segment Information (Schedule Of Long-Lived Assets By Geographic Areas) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Long lived assets	$ 463,490	$ 417,335
Australia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long lived assets	186,289	162,490
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long lived assets	159,815	164,155
Singapore
Revenues from External Customers and Long-Lived Assets [Line Items]
Long lived assets	64,182	39,977
Rest Of The World [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long lived assets	$ 53,204	$ 50,713

Employee Retirement Plans (Narr

Employee Retirement Plans (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Australia Plan [Member] | Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of contribution by the company to the retirement plans	9.50%
Total contribution by the company to the employee retirement plans	$ 10.7	$ 9.5	$ 10
United States Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of contribution by the company to the retirement plans	4.00%
Total contribution by the company to the employee retirement plans	$ 9.6	9.3	6.7
Singapore Plan [Member] | Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of contribution by the company to the retirement plans	17.00%
Total contribution by the company to the employee retirement plans	$ 2.5	$ 2.9	$ 2.6

Legal Actions, Contingencies _3

Legal Actions, Contingencies And Commitments (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Loss Contingencies [Line Items]
Income taxes payable	$ 307,963	$ 64,755
Receivables sold with limited recourse	153,000	154,500
Maximum exposure on outstanding receivables	30,200	22,800
Contingent provision	$ 8,200	$ 6,600

Legal Actions, Contingencies _4

Legal Actions, Contingencies And Commitments (Obligations Under Purchase Agreements) (Details) $ in Thousands	Jun. 30, 2021USD ($)
Legal Actions, Contingencies And Commitments [Abstract]
2022	$ 1,099,419
2023	994
2024	426
Total minimum purchase obligations	$ 1,100,839

Business Combinations (Narrativ

Business Combinations (Narrative) (Details) - USD ($)	Nov. 13, 2018	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Business Combinations [Line Items]
Income (loss) from operations		$ 883,662,000	$ 733,088,000	$ 518,847,000
Revenue from Contract with Customer, Excluding Assessed Tax		3,196,825,000	2,957,013,000	2,606,572,000
Income tax expense (benefit)		409,157,000	111,414,000	114,255,000
Amortization of intangible assets		$ 45,127,000	$ 49,603,000	$ 42,514,000
U.S. Federal income tax rate		21.00%	21.00%
Acquisition related expenses		$ 0
Pro Forma [Member]
Business Combinations [Line Items]
Acquisition related expenses			$ 3,700,000
MatrixCare [Member]
Business Combinations [Line Items]
Percentage of acquisition shares	100.00%
Total purchase price of acquisition	$ 750,000,000
Revenues			79,200,000
Gain (loss) from acquisition			(9,100,000)
Amortization of intangible assets		19,000,000
Deferred revenue fair value adjustment		$ 5,300,000
MatrixCare [Member] | Excluding Impact Of Fair Value Purchase Price Adjustment To Deferred Revenue [Member]
Business Combinations [Line Items]
Revenues			84,600,000
Gain (loss) from acquisition			15,300,000
MatrixCare [Member] | Pro Forma [Member]
Business Combinations [Line Items]
Income tax expense (benefit)			1,800,000
Amortization of intangible assets			600,000
Net interest expense associated with debt issued			2,600,000
Acquisition related expenses			$ 16,700,000

Business Combinations (Pro Form

Business Combinations (Pro Forma Information) (Details) - MatrixCare [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2019USD ($)$ / shares
Business Acquisition [Line Items]
Revenue | $	$ 2,652,059
Net income | $	$ 446,721
Basic earnings per share | $ / shares	$ 3.12
Diluted earnings per share | $ / shares	$ 3.09

Restructuring Expenses (Narrati

Restructuring Expenses (Narrative) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		$ 0
Restructuring expenses	$ 8,673,000		$ 9,401,000
Reorganization, Rationalization, And Relocation Of R&D And SaaS Operations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses			9,400,000
RL			$ 5,400,000
Portable Oxygen Concentrator Business Closure [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	13,900,000
Inventory write-downs	5,200,000
Accelerated amortization	5,100,000
Asset impairments	2,300,000
Employee-related costs	700,000
Contract cancellation costs	600,000
Cost of sales	5,200,000
Restructuring expenses	$ 8,700,000

Litigation Settlement Expenses

Litigation Settlement Expenses (Narrative) (Details) - USD ($)	12 Months Ended		36 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020
Litigation Settlement Expenses [Abstract]
Litigation settlement expenses	$ (600,000)	$ 41,199,000	$ 0

Schedule II Valuation And Qua_2

Schedule II Valuation And Qualifying Accounts And Reserves (Details) - Applied Against Asset Account Allowance For Doubtful Accounts [Member] - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period		$ 28,508	$ 25,171	$ 19,258
Charged to costs and expenses			18,283	12,379
Other (deductions)			(14,946)	(6,466)
Balance at end of period			28,508	$ 25,171
Cumulative Effect Of Change In Accounting Standards [Member] | Accounting Standards Update 2016-13 [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	[1]	30,013
Charged to costs and expenses	[1]	7,805
Other (deductions)	[1]	(5,680)
Balance at end of period	[1]	$ 32,138	$ 30,013
[1]	Beginning balance is adjusted to reflect the cumulative pre-tax effect of adopting Accounting Standards Update No. 2016-13, “Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments” (Topic 326), effective July 1, 2021. Refer to Note 3 - New Accounting Pronouncements of the Notes to the Consolidated Financial Statements (Part II, Item 8) for additional information.