ResMed (RMD) 10-K 11 Aug 22 2022 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2022	Aug. 08, 2022	Dec. 31, 2021
Document And Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2022
Current Fiscal Year End Date	--06-30
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 Public Float			$ 37,771,141,000
Entity Common Stock, Shares Outstanding		146,424,981
Amendment Flag	false
Document Fiscal Period Focus	FY
Entity Central Index Key	0000943819
Document Fiscal Year Focus	2022
Document Transition Report	false

Audit Information

Audit Information	12 Months Ended
	Jun. 30, 2022
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	San Diego, CA
Auditor Firm ID	185

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Current assets:
Cash and cash equivalents	$ 273,710	$ 295,278
Accounts receivable, net of allowances of $23,259 and $32,138 ‎at June 30, 2022 and June 30, 2021, respectively	575,950	614,292
Inventories (note 4)	743,910	457,033
Prepaid expenses and other current assets (note 4)	337,908	208,154
Total current assets	1,931,478	1,574,757
Non-current assets:
Property, plant and equipment, net (note 4)	498,181	463,490
Operating lease right-of-use assets (note 10)	132,314	128,575
Goodwill (note 5)	1,936,442	1,927,901
Other intangible assets, net (note 5)	345,944	392,582
Deferred income taxes (note 13)	79,746	79,904
Prepaid taxes and other non-current assets	171,748	160,916
Total non-current assets	3,164,375	3,153,368
Total assets	5,095,853	4,728,125
Current liabilities:
Accounts payable	159,245	138,008
Accrued expenses (note 7)	344,722	320,599
Operating lease liabilities, current (note 10)	21,856	23,585
Deferred revenue	108,667	109,611
Income taxes payable (note 13)	44,893	307,963
Short-term debt, net (note 9)	9,916	12,000
Total current liabilities	689,299	911,766
Non-current liabilities:
Deferred revenue	95,455	91,496
Deferred income taxes (note 13)	9,714	11,319
Operating lease liabilities, non-current (note 10)	120,453	114,779
Other long-term liabilities	5,974	6,802
Long-term debt, net (note 9)	765,325	643,351
Long-term income taxes payable (note 13)	48,882	62,933
Total non-current liabilities	1,045,803	930,680
Total liabilities	1,735,102	1,842,446
Commitments and contingencies (note 16)
Stockholders’ equity:
Preferred stock, $0.01 par value, 2,000,000 shares authorized; none issued	0	0
Common stock, $0.004 par value, 350,000,000 shares authorized; ‎188,246,955 issued and 146,410,721 outstanding at June 30, 2022 and ‎187,484,592 issued and 145,648,358 outstanding at June 30, 2021	586	583
Additional paid-in capital	1,682,432	1,622,199
Retained earnings	3,613,736	3,079,640
Treasury stock, at cost, 41,836,234 shares at June 30, 2022 and June 30, 2021	(1,623,256)	(1,623,256)
Accumulated other comprehensive loss	(312,747)	(193,487)
Total stockholders’ equity	3,360,751	2,885,679
Total liabilities and stockholders’ equity	$ 5,095,853	$ 4,728,125

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Statement of Financial Position [Abstract]
Allowance for credit loss, current	$ 23,259	$ 32,138
Preferred stock at par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	2,000,000	2,000,000
Preferred stock, shares issued (shares)	0	0
Common stock, par value (in dollars per share)	$ 0.004	$ 0.004
Common stock, shares authorized (shares)	350,000,000	350,000,000
Common stock, shares issued (shares)	188,246,955	187,484,592
Common stock, shares outstanding (shares)	146,410,721	145,648,358
Treasury stock (shares)	41,836,234	41,836,234

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Net revenue	$ 3,578,127	$ 3,196,825	$ 2,957,013
Cost of sales (exclusive of amortization shown separately below)	1,514,166	1,312,598	1,189,624
Amortization of acquired intangible assets	39,650	45,127	49,603
Total cost of sales	1,553,816	1,357,725	1,239,227
Gross profit	2,024,311	1,839,100	1,717,786
Operating Expenses [Abstract]
Selling, general, and administrative	739,372	670,387	676,689
Research and development	253,575	225,284	201,946
Amortization of acquired intangible assets	31,078	31,078	30,092
Restructuring expenses (note 17)	0	8,673	0
Litigation settlement expenses	0	0	(600)
Total operating expenses	1,024,025	935,422	908,127
Income from operations	1,000,286	903,678	809,659
Other income (loss), net:
Interest (expense) income, net	(22,312)	(23,627)	(39,356)
Loss attributable to equity method investments (note 6)	(8,486)	(11,205)	(25,058)
Gain (loss) on equity investments (note 6)	(12,202)	14,515	(14,519)
Other, net	3,197	301	2,362
Total other income (loss), net	(39,803)	(20,016)	(76,571)
Income before income taxes	960,483	883,662	733,088
Income taxes (note 13)	181,046	409,157	111,414
Net income	$ 779,437	$ 474,505	$ 621,674
Basic earnings per share (note 12) (usd per share)	$ 5.34	$ 3.27	$ 4.31
Diluted earnings per share (note 12) (usd per share)	5.30	3.24	4.27
Dividend declared per share (usd per share)	$ 1.68	$ 1.56	$ 1.56
Basic shares outstanding (000's) (shares)	146,066	145,313	144,338
Diluted shares outstanding (000's) (shares)	147,043	146,451	145,652
Sleep and Respiratory Care products
Net revenue	$ 3,177,298	$ 2,823,235	$ 2,602,381
Cost of sales (exclusive of amortization shown separately below)	1,365,421	1,177,309	1,067,967
Amortization of acquired intangible assets	4,105	4,895	8,584
Software as a Service
Net revenue	400,829	373,590	354,632
Cost of sales (exclusive of amortization shown separately below)	148,745	135,289	121,657
Amortization of acquired intangible assets	$ 35,545	$ 40,232	$ 41,019

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 779,437	$ 474,505	$ 621,674
Other comprehensive income (loss):
Foreign currency translation (loss) gain adjustments	(119,260)	90,495	(30,973)
Comprehensive income	$ 660,177	$ 565,000	$ 590,701

Consolidated Statements of Stoc

Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Cumulative effect adjustment from adoption of the credit loss standard, net of tax	Common Stock	Additional ‎Paid-in Capital	Treasury Stock	Retained Earnings	Retained Earnings Cumulative effect adjustment from adoption of the credit loss standard, net of tax	Accumulated ‎Other ‎Comprehensive Income (Loss)
Common stock, shares outstanding, beginning balance (shares) at Jun. 30, 2019			185,491,000
Beginning balance at Jun. 30, 2019	$ 2,072,193		$ 575	$ 1,511,473	$ (1,623,256)	$ 2,436,410		$ (253,009)
Treasury stock, common, beginning balance (shares) at Jun. 30, 2019					(41,836,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued on exercise of options (note 11), shares			350,000
Common stock issued on exercise of options (note 11)	19,987		$ 1	19,986
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (note 11), shares			617,000
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (note 11)	$ (46,058)		$ 3	(46,061)
Common stock issued on employee stock purchase plan (note 11), shares	265,000		265,000
Common stock issued on employee stock purchase plan (note 11)	$ 28,197		$ 1	28,196
Stock-based compensation costs	57,100			57,100
Other comprehensive income (loss)	(30,973)							(30,973)
Net income	621,674					621,674
Dividends declared	(225,093)					(225,093)
Common stock, shares outstanding, ending balance (shares) at Jun. 30, 2020			186,723,000
Ending balance at Jun. 30, 2020	$ 2,497,027	$ (1,143)	$ 580	1,570,694	$ (1,623,256)	2,832,991	$ (1,143)	(283,982)
Treasury stock, common, ending balance (shares) at Jun. 30, 2020					(41,836,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]
Common stock issued on exercise of options (note 11), shares			64,000
Common stock issued on exercise of options (note 11)	$ 3,954		$ 0	3,954
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (note 11), shares			469,000
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (note 11)	$ (50,207)		$ 2	(50,209)
Common stock issued on employee stock purchase plan (note 11), shares	229,000		229,000
Common stock issued on employee stock purchase plan (note 11)	$ 33,834		$ 1	33,833
Stock-based compensation costs	63,927			63,927
Other comprehensive income (loss)	90,495							90,495
Net income	474,505					474,505
Dividends declared	$ (226,713)					(226,713)
Common stock, shares outstanding, ending balance (shares) at Jun. 30, 2021	145,648,358		187,485,000
Ending balance at Jun. 30, 2021	$ 2,885,679		$ 583	1,622,199	$ (1,623,256)	3,079,640		(193,487)
Treasury stock, common, ending balance (shares) at Jun. 30, 2021	(41,836,234)				(41,836,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued on exercise of options (note 11), shares	177,000		177,000
Common stock issued on exercise of options (note 11)	$ 11,205		$ 0	11,205
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (note 11), shares			369,000
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (note 11)	$ (52,406)		$ 2	(52,408)
Common stock issued on employee stock purchase plan (note 11), shares	216,000		216,000
Common stock issued on employee stock purchase plan (note 11)	$ 36,180		$ 1	36,179
Stock-based compensation costs	65,257			65,257
Other comprehensive income (loss)	(119,260)							(119,260)
Net income	779,437					779,437
Dividends declared	$ (245,341)					(245,341)
Common stock, shares outstanding, ending balance (shares) at Jun. 30, 2022	146,410,721		188,247,000
Ending balance at Jun. 30, 2022	$ 3,360,751		$ 586	$ 1,682,432	$ (1,623,256)	$ 3,613,736		$ (312,747)
Treasury stock, common, ending balance (shares) at Jun. 30, 2022	(41,836,234)				(41,836,000)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income	$ 779,437	$ 474,505	$ 621,674
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	159,609	156,758	154,850
Amortization of right-of-use assets	34,232	34,760	26,523
Stock-based compensation costs (note 11)	65,257	63,927	57,559
Loss attributable to equity method investments (note 6)	8,486	11,205	25,058
(Gain) loss on equity investments (note 6)	12,202	(14,515)	14,519
Restructuring expenses (note 17)	0	8,673	0
Changes in fair value of business combination contingent consideration	0	0	(7)
Changes in operating assets and liabilities:
Accounts receivable	19,346	(129,195)	54,383
Inventories	(311,681)	(21,954)	(69,881)
Prepaid expenses, net deferred income taxes and other current assets	(168,109)	(58,154)	(58,999)
Accounts payable, accrued expenses and other	(247,632)	210,708	(23,424)
Net cash provided by operating activities	351,147	736,718	802,255
Cash flows from investing activities:
Purchases of property, plant and equipment	(134,835)	(102,712)	(95,330)
Patent registration costs	(21,201)	(14,114)	(10,608)
Business acquisitions, net of cash acquired	(42,784)	(39,067)	(27,910)
Purchases of investments (note 6)	(20,724)	(21,788)	(31,616)
Proceeds from sale of investment (note 6)	6,802	0	0
(Payments) / proceeds on maturity of foreign currency contracts	(17,176)	19,219	(14,397)
Net cash used in investing activities	(229,918)	(158,462)	(179,861)
Cash flows from financing activities:
Proceeds from issuance of common stock, net	47,384	37,790	48,182
Taxes paid related to net share settlement of equity awards	(52,406)	(50,209)	(46,061)
Payments of business combination contingent consideration	0	(3,500)	(302)
Proceeds from borrowings, net of borrowing costs	288,000	90,000	1,190,000
Repayment of borrowings	(166,000)	(612,000)	(1,284,012)
Dividends paid	(245,341)	(226,713)	(225,093)
Net cash used in financing activities	(128,363)	(764,632)	(317,286)
Effect of exchange rate changes on cash	(14,434)	18,498	10,920
Net increase (decrease) in cash and cash equivalents	(21,568)	(167,878)	316,028
Cash and cash equivalents at beginning of period	295,278	463,156	147,128
Cash and cash equivalents at end of period	273,710	295,278	463,156
Supplemental disclosure of cash flow information:
Income taxes paid, net of refunds	478,120	221,359	180,359
Interest paid	22,312	23,989	40,377
Fair value of assets acquired, excluding cash	15,648	16,671	14,919
Liabilities assumed	(4,672)	(1,543)	(4,292)
Goodwill on acquisition	38,953	24,671	20,375
Previously held equity interest	(4,078)	0	0
Deferred payments	(3,067)	3,768	408
Fair value of contingent consideration		0	(3,500)
Cash paid for acquisitions	$ 42,784	$ 43,567	$ 27,910

Consolidated Statements of St_2

Consolidated Statements of Stockholders’ Equity (Parenthetical) - $ / shares	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Statement of Stockholders' Equity [Abstract]
Common stock, dividends per share, cash paid (usd per share)	$ 1.68	$ 1.56	$ 1.56

Organization And Basis Of Prese

Organization And Basis Of Presentation	12 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization And Basis Of Presentation	Organization and Basis of Presentation ResMed Inc. (referred to herein as “we”, “us”, “our” or the “Company”) is a Delaware corporation formed in March 1994 as a holding company for the ResMed Group. Through our subsidiaries, we design, manufacture and market equipment for the diagnosis and treatment of sleep-disordered breathing and other respiratory disorders, including obstructive sleep apnea. Our manufacturing operations are located in Australia, Singapore, Malaysia, France, China and the United States. Major distribution and sales sites are located in the United States, Germany, France, the United Kingdom, Switzerland, Australia, Japan, China, Finland, Norway and Sweden. We also operate a Software as a Service (“SaaS”) business in the United States that includes out-of-hospital software platforms designed to support the professionals and caregivers who help people stay healthy in the home or care setting of their choice.

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	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. Certain prior period amounts have been reclassified to conform to the current period presentation. 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 14 – Segment Information for our net revenue disaggregated by segment, product and region for the years ended June 30, 2022, 2021 and 2020. 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 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, 2022 and 2021 (in thousands): 2022 2021 Balance sheet caption Contract assets Accounts receivable, net $ 575,950 $ 614,292 Accounts receivable, net Unbilled revenue, current 25,692 10,893 Prepaid expenses and other current assets Unbilled revenue, non-current 8,840 6,214 Prepaid taxes and other non-current assets Contract liabilities Deferred revenue, current (108,667) (109,611) Deferred revenue (current liabilities) Deferred revenue, non-current (95,455) (91,496) 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 our 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 participate in programs where we issue credits to our Sleep and Respiratory Care distributors when they are required to sell our products below negotiated list prices if we have preexisting contracts with the distributors' customers. We reduce revenue for future credits at the time of sale to the distributor, which we estimate based on historical experience using the expected value method. 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 forty 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 $81.0 million, $78.4 million, and $65.6 million for the years ended June 30, 2022, 2021 and 2020, 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 not 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, 2022, 2021 and 2020, 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 not 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 gain (loss) on equity investments as a component of other income (loss), 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 income (loss), 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 $602.0 million and $556.4 million at June 30, 2022 and June 30, 2021, respectively, to hedge foreign currency fluctuations. These contracts mature at various dates prior to June 30, 2024. (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. 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, 2022, 2021 and 2020. (r) Contingencies

New Accounting Pronouncements

New Accounting Pronouncements	12 Months Ended
	Jun. 30, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Recently adopted accounting pronouncements ASU No. 2021-08 “Business Combinations: Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” In October 2021, the FASB issued ASU No. 2021-08, “Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (Topic 805), which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. This approach differs from the current requirement to measure contract assets and contract liabilities acquired in a business combination at fair value. The guidance is effective for us beginning in the first quarter of the year ending June 30, 2024 and early adoption is permitted. We elected to early adopt this standard in the second quarter of our fiscal year ending June 30, 2022. Adoption of ASU 2021-08 did not have a material impact on our consolidated financial statements.

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	12 Months Ended
	Jun. 30, 2022
Supplemental Balance Sheet Information [Abstract]
Supplemental Balance Sheet Information	Supplemental Balance Sheet Information Components of selected captions in the consolidated balance sheets consisted of the following as of June 30, 2022 and June 30, 2021 (in thousands): Inventories 2022 2021 Raw materials $ 355,225 $ 155,419 Work in progress 3,077 4,647 Finished goods 385,608 296,967 Total inventories $ 743,910 $ 457,033 Prepaid expenses and other current assets 2022 2021 Prepaid taxes $ 99,352 $ 72,409 Prepaid inventories 107,291 6,952 Other prepaid expenses and current assets 131,265 128,793 Total prepaid expenses and other current assets $ 337,908 $ 208,154 Property, plant and equipment 2022 2021 Machinery and equipment $ 390,634 $ 349,022 Computer equipment and software 199,671 194,386 Furniture and fixtures 54,098 54,435 Vehicles and aircraft 19,231 5,959 Clinical, demonstration and rental equipment 105,440 110,620 Leasehold improvements 80,855 77,392 Land 51,864 54,458 Buildings 229,502 239,357 Property, plant and equipment, at cost $ 1,131,295 $ 1,085,629 Accumulated depreciation and amortization (633,114) (622,139) Property, plant and equipment, net $ 498,181 $ 463,490

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, net	12 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, net	Goodwill and Other Intangible Assets, net Goodwill For each of the years ended June 30, 2022 and June 30, 2021, we have not recorded any goodwill impairments. Changes in the carrying amount of goodwill is comprised of the following for the year ended June 30, 2022 (in thousands): 2022 Sleep and SaaS Total Balance at the beginning of the period $ 633,183 $ 1,294,718 $ 1,927,901 Business acquisitions 38,953 — 38,953 Foreign currency translation adjustments (30,412) — (30,412) Balance at the end of the period $ 641,724 $ 1,294,718 $ 1,936,442 Other Intangible Assets Other intangibles, net are comprised of the following as of June 30, 2022 and June 30, 2021 (in thousands): 2022 2021 Developed/core product technology $ 350,671 $ 383,319 Accumulated amortization (239,647) (239,049) Developed/core product technology, net 111,024 144,270 Customer relationships 257,034 272,703 Accumulated amortization (91,731) (90,976) Customer relationships, net 165,303 181,727 Other intangibles 204,580 197,662 Accumulated amortization (134,963) (131,077) Other intangibles, net 69,617 66,585 Total other intangibles, net $ 345,944 $ 392,582 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, 2022 and June 30, 2021 was $70.7 million and $76.2 million, respectively. Amortization expense related to patents for the years ended June 30, 2022 and June 30, 2021 was $6.2 million and $5.3 million, respectively. Total estimated annual amortization expense for the years ending June 30, 2023 through June 30, 2027, is shown below (in thousands): Fiscal Years Ending June 30 2023 2024 2025 2026 2027 Estimated amortization expense $ 61,374 $ 57,594 $ 53,157 $ 47,902 $ 29,667

Investments

Investments	12 Months Ended
	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Investments	Investments Equity investments by measurement category as of June 30, 2022 and June 30, 2021 were as follows (in thousands): Measurement category 2022 2021 Fair value $ 9,167 $ 29,084 Measurement alternative 39,290 23,002 Equity method 9,918 17,154 Total $ 58,375 $ 69,240 The following table shows a reconciliation of the changes in our equity investments for the year ended June 30, 2022 (in thousands): Non-marketable securities Marketable securities Equity method investments Total Balance at the beginning of the period $ 23,002 $ 29,084 $ 17,154 $ 69,240 Net additions (reductions) to investments (1) 11,775 (3,202) 1,250 9,823 Observable price adjustments on non-marketable equity securities 5,367 — — 5,367 Unrealized losses on marketable equity securities — (18,341) — (18,341) Realized gains on marketable and non-marketable equity securities 2,355 1,626 — 3,981 Impairment of investments (3,209) — — (3,209) Loss attributable to equity method investments — — (8,486) (8,486) Carrying value at the end of the period $ 39,290 $ 9,167 $ 9,918 $ 58,375 (1) Net additions (reductions) to investments includes additions from purchases, reductions due to exits of securities, or reclassifications due to our acquisition of an investee in which we held a prior equity interest. 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 Additions to investments 2,538 5,000 14,250 21,788 Observable price adjustments on non-marketable equity securities 1,000 — — 1,000 Unrealized gains on marketable equity securities — 13,515 — 13,515 Reclassifications (2) (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 (2) 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

Accrued Expenses	12 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses at June 30, 2022 and June 30, 2021 consist of the following (in thousands): 2022 2021 Product warranties (note 8) $ 25,889 $ 22,032 Consulting and professional fees 25,073 21,246 Value added taxes and other taxes due 26,340 26,542 Employee related costs 194,736 199,917 Promotional and marketing 6,485 4,127 Accrued interest 7,983 8,338 Logistics and occupancy costs 32,160 14,954 Inventory in transit 11,554 7,146 Other 14,502 16,297 Total accrued expenses $ 344,722 $ 320,599

Product Warranties

Product Warranties	12 Months Ended
	Jun. 30, 2022
Product Warranties Disclosures [Abstract]
Product Warranties	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, 2022 and June 30, 2021 are as follows (in thousands): 2022 2021 Balance at the beginning of the period $ 22,032 $ 21,132 Warranty accruals for the period 17,442 14,366 Warranty costs incurred for the period (12,124) (14,858) Foreign currency translation adjustments (1,461) 1,392 Balance at the end of the period $ 25,889 $ 22,032

Debt

Debt	12 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt Debt at June 30, 2022 and June 30, 2021 consists of the following (in thousands): 2022 2021 Short-term debt $ 10,000 $ 12,000 Deferred borrowing costs (84) — Short-term debt, net 9,916 12,000 Long-term debt $ 770,000 $ 646,000 Deferred borrowing costs (4,675) (2,649) Long-term debt, net $ 765,325 $ 643,351 Total debt $ 775,241 $ 655,351 Credit Facility On June 29, 2022, we entered into a second amended and restated credit agreement (the “Revolving Credit Agreement”), as borrower, with lenders MUFG Union Bank, N.A., as administrative agent, joint lead arranger, sole book runner, swing line lender and letter of credit issuer, Westpac Banking Corporation, as syndication agent and joint lead arranger, HSBC Bank USA, National Association, as syndication agent and joint lead arranger, and Wells Fargo Bank, National Association, as documentation agent. The Revolving Credit Agreement, among other things, provided a senior unsecured revolving credit facility of $1,500.0 million, with an uncommitted option to increase the revolving credit facility by an additional amount equal to the greater of $1,000.0 million and 1.00 times the EBITDA (as defined in the Revolving Credit Agreement) for the trailing twelve-month measurement period. The Revolving Credit Facility amends and restates that certain Amended and Restated Credit Agreement, dated as of April 17, 2018, among ResMed, MUFG Union Bank, N.A., Westpac Banking Corporation and the lenders party thereto which provided ResMed with a senior unsecured revolving credit facility in an aggregate amount of $1,600.0 million with an uncommitted option to increase such facility by an additional $300.0 million. Additionally, on June 29, 2022, ResMed Pty Limited entered into a Second Amendment to the Syndicated Facility Agreement and First Amendment to Unconditional Guaranty 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, which amends that certain Syndicated Facility Agreement dated as of April 17, 2018. The Term Credit Agreement, among other things, provides ResMed Pty a senior unsecured term credit facility of $200.0 million. Our obligations under the Revolving Credit Agreement are guaranteed by certain of our direct and indirect U.S. subsidiaries, and ResMed Pty 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 June 29, 2027, 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 $5.0 million principal payment required on each such semi-annual amortization date. The outstanding principal amounts will bear interest at a rate equal to the Adjusted Term SOFR (as defined in the Revolving Credit Facility) 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, 2022, the interest rate that was being charged on the outstanding principal amounts was 3.00%. An applicable commitment fee of 0.075% to 0.150% (depending on the then-applicable leverage ratio) applies on the unused portion of the revolving credit facility. As of June 30, 2022, we had $1.4 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 Adjusted Term SOFR plus the spreads described above, its carrying amount is equivalent to its fair value as at June 30, 2022 and June 30, 2021, which was $280.0 million and $158.0 million, respectively. Quoted market prices in active markets for identical liabilities based inputs (Level 2) 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. 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 10.0% 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, 2022, the Senior Notes have a carrying amount of $500.0 million, excluding deferred borrowing costs, and an estimated fair value of $477.7 million. Quoted market prices in active markets for identical liabilities based inputs (Level 2) were used to estimate fair value.

Leases

Leases	12 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	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 14 years, some of which include options to extend or terminate the leases. Operating lease costs for the years ended June 30, 2022, 2021 and 2020 were $35.3 million, $35.5 million and $26.5 million, respectively. Short-term and variable lease costs were not material for the years ended June 30, 2022, 2021 and 2020. Future lease payments under non-cancellable operating leases as of June 30, 2022 are as follows (in thousands): Total 2023 2024 2025 2026 2027 Thereafter Minimum lease payments $ 161,219 $ 25,488 $ 19,561 $ 16,617 $ 15,783 $ 15,254 $ 68,516 Less: imputed interest (18,910) Total lease liabilities $ 142,309 As of June 30, 2022, we had additional operating lease commitments of $0.7 million for office space that have not yet commenced. These leases will commence during the year ended June 30, 2023 with lease terms of 1 year to 5 years. The supplemental information related to operating leases for the years ended June 30, 2022 and June 30, 2021 was as follows (in thousands): 2022 2021 Weighted-average inputs: Weighted-average remaining lease term (years) 8.8 8.5 Weighted-average discount rate 2.8 % 3.0 % Cash flow information: Operating cash flows paid for amounts included in the measurement of lease liabilities $ 26,462 $ 27,734 Right of use assets obtained in exchange for new lease liabilities: $ 41,382 $ 36,130 (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, 2022, 2021 and 2020 were as follows (in thousands): 2022 2021 2020 Sales-type lease revenue $ 9,342 $ 9,758 $ 13,457 Operating lease revenue 90,076 93,431 87,874 Total lease revenue $ 99,418 $ 103,189 $ 101,331 Our net investment in sales-type leases were classified in the consolidated balance sheets as of June 30, 2022 and June 30, 2021 as follows (in thousands): 2022 2021 Accounts receivable, net $ 6,473 $ 8,026 Prepaid taxes and other non-current assets 7,635 6,214 Total $ 14,108 $ 14,240 Maturities of sales-type leases as of June 30, 2022 were as follows (in thousands): Total 2023 2024 2025 2026 2027 Thereafter Remaining lease payments $ 16,068 $ 6,757 $ 4,207 $ 2,057 $ 1,915 $ 1,132 — Less: imputed interest (1,960) Present value of remaining lease payments $ 14,108
Leases	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 14 years, some of which include options to extend or terminate the leases. Operating lease costs for the years ended June 30, 2022, 2021 and 2020 were $35.3 million, $35.5 million and $26.5 million, respectively. Short-term and variable lease costs were not material for the years ended June 30, 2022, 2021 and 2020. Future lease payments under non-cancellable operating leases as of June 30, 2022 are as follows (in thousands): Total 2023 2024 2025 2026 2027 Thereafter Minimum lease payments $ 161,219 $ 25,488 $ 19,561 $ 16,617 $ 15,783 $ 15,254 $ 68,516 Less: imputed interest (18,910) Total lease liabilities $ 142,309 As of June 30, 2022, we had additional operating lease commitments of $0.7 million for office space that have not yet commenced. These leases will commence during the year ended June 30, 2023 with lease terms of 1 year to 5 years. The supplemental information related to operating leases for the years ended June 30, 2022 and June 30, 2021 was as follows (in thousands): 2022 2021 Weighted-average inputs: Weighted-average remaining lease term (years) 8.8 8.5 Weighted-average discount rate 2.8 % 3.0 % Cash flow information: Operating cash flows paid for amounts included in the measurement of lease liabilities $ 26,462 $ 27,734 Right of use assets obtained in exchange for new lease liabilities: $ 41,382 $ 36,130 (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, 2022, 2021 and 2020 were as follows (in thousands): 2022 2021 2020 Sales-type lease revenue $ 9,342 $ 9,758 $ 13,457 Operating lease revenue 90,076 93,431 87,874 Total lease revenue $ 99,418 $ 103,189 $ 101,331 Our net investment in sales-type leases were classified in the consolidated balance sheets as of June 30, 2022 and June 30, 2021 as follows (in thousands): 2022 2021 Accounts receivable, net $ 6,473 $ 8,026 Prepaid taxes and other non-current assets 7,635 6,214 Total $ 14,108 $ 14,240 Maturities of sales-type leases as of June 30, 2022 were as follows (in thousands): Total 2023 2024 2025 2026 2027 Thereafter Remaining lease payments $ 16,068 $ 6,757 $ 4,207 $ 2,057 $ 1,915 $ 1,132 — Less: imputed interest (1,960) Present value of remaining lease payments $ 14,108
Leases	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 14 years, some of which include options to extend or terminate the leases. Operating lease costs for the years ended June 30, 2022, 2021 and 2020 were $35.3 million, $35.5 million and $26.5 million, respectively. Short-term and variable lease costs were not material for the years ended June 30, 2022, 2021 and 2020. Future lease payments under non-cancellable operating leases as of June 30, 2022 are as follows (in thousands): Total 2023 2024 2025 2026 2027 Thereafter Minimum lease payments $ 161,219 $ 25,488 $ 19,561 $ 16,617 $ 15,783 $ 15,254 $ 68,516 Less: imputed interest (18,910) Total lease liabilities $ 142,309 As of June 30, 2022, we had additional operating lease commitments of $0.7 million for office space that have not yet commenced. These leases will commence during the year ended June 30, 2023 with lease terms of 1 year to 5 years. The supplemental information related to operating leases for the years ended June 30, 2022 and June 30, 2021 was as follows (in thousands): 2022 2021 Weighted-average inputs: Weighted-average remaining lease term (years) 8.8 8.5 Weighted-average discount rate 2.8 % 3.0 % Cash flow information: Operating cash flows paid for amounts included in the measurement of lease liabilities $ 26,462 $ 27,734 Right of use assets obtained in exchange for new lease liabilities: $ 41,382 $ 36,130 (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, 2022, 2021 and 2020 were as follows (in thousands): 2022 2021 2020 Sales-type lease revenue $ 9,342 $ 9,758 $ 13,457 Operating lease revenue 90,076 93,431 87,874 Total lease revenue $ 99,418 $ 103,189 $ 101,331 Our net investment in sales-type leases were classified in the consolidated balance sheets as of June 30, 2022 and June 30, 2021 as follows (in thousands): 2022 2021 Accounts receivable, net $ 6,473 $ 8,026 Prepaid taxes and other non-current assets 7,635 6,214 Total $ 14,108 $ 14,240 Maturities of sales-type leases as of June 30, 2022 were as follows (in thousands): Total 2023 2024 2025 2026 2027 Thereafter Remaining lease payments $ 16,068 $ 6,757 $ 4,207 $ 2,057 $ 1,915 $ 1,132 — Less: imputed interest (1,960) Present value of remaining lease payments $ 14,108

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Stockholders' Equity	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 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 2022 or 2021. As of June 30, 2022, 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, 2022, 12.9 million additional shares can be repurchased under the approved share repurchase program. Preferred Stock. In April 1997, our board of directors authorized 2.0 million shares of 0.01 par value preferred stock. No such shares were issued or outstanding at June 30, 2022. 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, 2022 is 15.3 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 a purchase price 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, 2022, 2021 and 2020, was $65.5 million, $59.6 million and $56.8 million, respectively. The following table summarizes the activity of RSUs, including PRSUs, during year ended June 30, 2022 (in thousands, except years and per share amounts): Restricted Weighted Weighted Outstanding at beginning of period 875 $ 145.19 1.5 Granted 288 259.46 Vested* (575) 113.85 Performance factor adjustment 175 — Forfeited (82) 184.30 Outstanding at end of period 681 $ 203.46 1.6 * Includes 206 thousand shares netted for tax. The following table summarizes option activity during the year ended June 30, 2022 (in thousands, except years and per share amounts): Options Weighted Weighted Outstanding at beginning of period 1,060 $ 97.01 3.7 Granted 56 256.33 Exercised (177) 63.31 Forfeited (1) 110.19 Outstanding at end of period 938 $ 112.91 3.2 Options exercisable at end of period 792 $ 96.14 2.8 Options vested and expected to vest at end of period 932 $ 112.10 3.2 The aggregate intrinsic value of options exercised during the fiscal years 2022, 2021 and 2020, was $33.7 million, $8.9 million and $31.2 million, respectively. As at June 30, 2022, the aggregate intrinsic value of options outstanding, exercisable, and vested and expected to vest were $93.5 million, $89.9 million and $93.4 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, 2022, the number of shares remaining available for future issuance under the ESPP is 1.5 million shares. During years ended June 30, 2022, 2021 and 2020, we issued 216,000, 229,000 and 265,000 shares to our employees in two offerings and we recognized $11.0 million, $10.9 million and $8.0 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, 2022, 2021 and 2020: 2022 2021 2020 Stock options: Weighted average grant date fair value $72.16 $53.67 $32.14 Weighted average risk-free interest rate 1.29% 0.37% 1.58% Expected life in years 4.9 4.9 4.9 Dividend yield 0.66% 0.75% 1.07% Expected volatility 32% 31% 25% ESPP purchase rights: Weighted average grant date fair value $50.46 $48.18 $31.82 Weighted average risk-free interest rate 0.3% 0.1% 1.6% Expected life in years 6 months 6 months 6 months Dividend yield 0.63% - 0.98% 0.79% - 0.98% 0.98% - 1.42% Expected volatility 20% - 34% 30% - 60% 23% - 60% The following table summarizes the total stock-based compensation costs incurred and the associated tax benefit recognized during the years ended June 30, 2022, 2021 and 2020 (in thousands): 2022 2021 2020 Cost of sales $ 5,218 $ 4,153 $ 3,703 Selling, general and administrative expenses 50,791 51,727 47,265 Research and development expenses 9,248 8,047 6,591 Stock-based compensation costs 65,257 63,927 57,559 Tax benefit (29,262) (23,346) (39,534) Stock-based compensation costs, net of tax benefit $ 35,995 $ 40,581 $ 18,025

Earnings Per Share

Earnings Per Share	12 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	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 67,000, 141,000 and 164,000 for the years ended June 30, 2022, 2021 and 2020, respectively, as the effect would have been anti-dilutive. Basic and diluted earnings per share for the years ended June 30, 2022, 2021 and 2020 are calculated as follows (in thousands except per share data): 2022 2021 2020 Numerator: Net income $ 779,437 $ 474,505 $ 621,674 Denominator: Basic weighted-average common shares outstanding 146,066 145,313 144,338 Effect of dilutive securities: Stock options and restricted stock units 977 1,138 1,314 Diluted weighted average shares 147,043 146,451 145,652 Basic earnings per share $ 5.34 $ 3.27 $ 4.31 Diluted earnings per share $ 5.30 $ 3.24 $ 4.27

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income before income taxes for the years ended June 30, 2022, 2021 and 2020, was taxed under the following jurisdictions (in thousands): 2022 2021 2020 U.S. $ (85,919) $ 71,867 $ 60,548 Non-U.S. 1,046,402 811,795 672,540 Income before income taxes $ 960,483 $ 883,662 $ 733,088 The provision for income taxes is presented below (in thousands): 2022 2021 2020 Current: Federal $ 4,376 $ (115,109) $ 9,790 State 10,700 9,041 6,898 Non-U.S. 177,788 531,812 124,602 192,864 425,744 141,290 Deferred: Federal (12,612) (22,791) (13,000) State (2,773) (4,205) (3,335) Non-U.S. 3,567 10,409 (13,541) (11,818) (16,587) (29,876) Provision for income taxes $ 181,046 $ 409,157 $ 111,414 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, 2022, 2021 and 2020, to pretax income as a result of the following (in thousands): 2022 2021 2020 Taxes computed at statutory U.S. rate $ 201,701 $ 185,569 $ 153,949 Increase (decrease) in income taxes resulting from: State income taxes, net of U.S. tax benefit 5,703 4,836 3,563 Research and development credit (17,517) (20,257) (13,595) Change in valuation allowance 858 (3,785) 7,216 Effect of non-U.S. tax rates (4,384) (12,130) (20,935) Foreign tax credits (2,299) (7,210) (4,026) Stock-based compensation expense (11,294) (4,498) (20,696) Uncertain tax position — 248,773 — Other 8,278 17,859 5,938 Provision for income taxes $ 181,046 $ 409,157 $ 111,414 We reported net deferred tax assets and liabilities in our consolidated balance sheets at June 30, 2022 and June 30, 2021, as follows (in thousands): 2022 2021 Non-current deferred tax asset $ 79,746 $ 79,904 Non-current deferred tax liability (9,714) (11,319) Net deferred tax asset $ 70,032 $ 68,585 The components of our deferred tax assets and liabilities at June 30, 2022 and June 30, 2021, are as follows (in thousands): 2022 2021 Deferred tax assets: Employee liabilities $ 28,556 $ 30,080 Tax credit carry overs 7,723 13,753 Inventories 10,570 11,734 Provision for warranties 4,814 4,149 Provision for doubtful debts 5,096 7,334 Net operating loss carryforwards 27,490 33,377 Capital loss carryover 4,715 6,912 Stock-based compensation expense 6,425 6,080 Deferred revenue 25,748 17,839 Research and development capitalization 82,074 58,789 Lease liabilities 21,702 25,751 Other (3,395) (4,911) 221,518 210,887 Less valuation allowance (13,572) (13,106) Deferred tax assets 207,946 197,781 Deferred tax liabilities: Goodwill and other intangibles (108,078) (104,563) Right of use assets (20,345) (23,693) Property, plant and equipment (9,491) (940) Deferred tax liabilities (137,914) (129,196) Net deferred tax asset $ 70,032 $ 68,585 As of June 30, 2022, we had $19.8 million of U.S. federal and state net operating loss carryforwards and $6.9 million of non-U.S. net operating loss carryforwards, which expire in various years beginning in 2023 or carry forward indefinitely. The valuation allowance at June 30, 2022 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 $12.7 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 $38.0 million ($0.26 per diluted share) for the year ended June 30, 2022, $33.6 million ($0.23 per diluted share) for the year ended June 30, 2021, and $43.8 million ($0.30 per diluted share) for the year ended June 30, 2020. 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. 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, 2022 amounted to approximately $3.6 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 $194.9 million in U.S. federal deferred taxes and $5.2 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. Based on all known facts and circumstances and current tax law, we believe the total amount of unrecognized tax benefits on June 30, 2022, is not material to our results of operations, financial condition or cash flows, and if recognized, would not have a material impact on our effective tax rate. Our income tax returns are based on calculations and assumptions subject to audit by various tax authorities. In addition, the calculation of our tax liabilities involves dealing with uncertainties in the application of complex tax laws. We regularly assess the potential outcomes of examinations by tax authorities in determining the adequacy of our provision for income taxes. 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. On September 19, 2021, we concluded the settlement agreement with the Australian Taxation Office (“ATO”) in relation to the previously disclosed transfer pricing dispute for the tax years 2009 through 2018 (“ATO settlement”). The ATO settlement fully resolved the dispute for all prior years, with no admission of liability and provides clarity in relation to certain future taxation principles. The final net impact of the ATO settlement was $238.7 million, which represents a gross amount of $381.7 million, including interest and penalties of $48.1 million, and adjustments for credits and deductions of $143.0 million. As a result of the ATO settlement and due to movements in foreign currencies, we recorded a benefit of $14.1 million within other comprehensive income, and a $4.1 million reduction of tax credits, which was recorded to income tax expense. As a result of the ATO settlement, we reversed our previously recorded uncertain tax position. On September 28, 2021, we remitted final payment to the ATO of $284.8 million, consisting of the agreed settlement amount of $381.7 million less prior remittances made to the ATO of $96.9 million. Tax years 2018 to 2021 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, 2022
Segment Reporting [Abstract]
Segment Information	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 – Summary of 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, deferred revenue fair value adjustment, net interest expense (income), loss attributable to equity method investments, gains and losses on equity 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, 2022, 2021 and 2020 (in thousands): 2022 2021 2020 Net revenue by segment Total Sleep and Respiratory Care $ 3,177,298 $ 2,823,235 $ 2,602,381 Software as a Service 400,829 373,590 356,734 Deferred revenue fair value adjustment (1) — — (2,102) Total Software as a Service 400,829 373,590 354,632 Total $ 3,578,127 $ 3,196,825 $ 2,957,013 Depreciation and amortization by segment Sleep and Respiratory Care $ 79,367 $ 73,151 $ 69,444 Software as a Service 7,315 5,230 3,850 Amortization of acquired intangible assets and corporate assets 72,927 78,377 81,556 Total $ 159,609 $ 156,758 $ 154,850 Net operating profit by segment Sleep and Respiratory Care $ 1,132,510 $ 1,036,712 $ 934,697 Software as a Service 93,821 93,037 82,152 Total $ 1,226,331 $ 1,129,749 $ 1,016,849 Reconciling items Corporate costs $ 155,317 $ 141,193 $ 125,993 Amortization of acquired intangible assets 70,728 76,205 79,695 Restructuring expenses — 8,673 — Litigation settlement expenses — — (600) Deferred revenue fair value adjustment (1) — — 2,102 Interest expense (income), net 22,312 23,627 39,356 Loss attributable to equity method investments 8,486 11,205 25,058 (Gain) loss on equity investments 12,202 (14,515) 14,519 Other, net (3,197) (301) (2,362) Income before income taxes $ 960,483 $ 883,662 $ 733,088 (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, 2022, 2021 and 2020 (in thousands): 2022 2021 2020 U.S., Canada and Latin America Devices $ 1,070,420 $ 863,661 $ 792,766 Masks and other 911,387 841,452 779,561 Total Sleep and Respiratory Care $ 1,981,807 $ 1,705,113 $ 1,572,327 Software as a Service 400,829 373,590 354,632 Total $ 2,382,636 $ 2,078,703 $ 1,926,959 Combined Europe, Asia and other markets Devices $ 796,488 $ 746,379 $ 715,056 Masks and other 399,003 371,743 314,998 Total Sleep and Respiratory Care $ 1,195,491 $ 1,118,122 $ 1,030,054 Global revenue Devices $ 1,866,908 $ 1,610,040 $ 1,507,822 Masks and other 1,310,390 1,213,195 1,094,559 Total Sleep and Respiratory Care $ 3,177,298 $ 2,823,235 $ 2,602,381 Software as a Service 400,829 373,590 354,632 Total $ 3,578,127 $ 3,196,825 $ 2,957,013 Revenue information by geographic area for the years ended June 30, 2022, 2021 and 2020 is summarized below (in thousands): 2022 2021 2020 United States $ 2,249,381 $ 1,962,721 $ 1,828,575 Rest of the World 1,328,746 1,234,104 1,128,438 Total $ 3,578,127 $ 3,196,825 $ 2,957,013 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, 2022 and 2021 is summarized below (in thousands): 2022 2021 Australia $ 192,833 $ 186,289 United States 169,090 159,815 Singapore 72,821 64,182 Rest of the World 63,309 53,204 Total $ 498,053 $ 463,490

Employee Retirement Plans

Employee Retirement Plans	12 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Employee Retirement Plans	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 10.0% 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, 2022, 2021 and 2020, were $11.8 million, $10.7 million and $9.5 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 $11.9 million, $9.6 million and $9.3 million in fiscal 2022, 2021 and 2020, 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 $3.1 million, $2.5 million and $2.9 million in fiscal 2022, 2021 and 2020, respectively.

Legal Actions, Contingencies An

Legal Actions, Contingencies And Commitments	12 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Legal Actions, Contingencies And Commitments	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. On June 2, 2021, New York University filed a complaint for patent infringement in the United States District Court, District of Delaware against ResMed Inc., case no. 1:21-cv-00813 (CFC). The complaint alleges that the AutoSet or AutoRamp features of ResMed’s AirSense 10 AutoSet flow generators infringe one or more claims of various NYU patents, including U.S. Patent Nos. 6,988,994; 9,108,009; 9,168,344; 9,427,539; 9,533,115; 9,867,955; and 10,384,024. According to the complaint, the NYU patents are directed to systems and methods for diagnosis and treating sleeping disorders during different sleep states. The complaint seeks monetary damages and attorneys’ fees. ResMed answered the complaint on September 30, 2021 and filed a motion to dismiss the complaint on the basis that the patents are invalid because the subject matter of the patents is not patentable under the Supreme Court and Federal Circuit precedent. The motion to dismiss was granted in part and denied in part. The matter is proceeding to discovery. On January 27, 2021, the International Trade Commission instituted In Re Certain UMTS and LTE Cellular Communications Modules and Products Containing the Same, Investigation No. 337-TA-1240, by complainants Philips RS North America, LLC and Koninklijke Philips N.V. (collectively “Philips”) against Quectel Wireless Solutions Co., Ltd; Thales DIS AIS USA, LLC, Thales DIS AIS Deutschland GmbH; Telit Wireless Solutions, Inc., Telit Communications PLC, CalAmp. Corp., Xirgo Technologies, LLC, and Laird Connectivity, Inc. (collectively “respondents”). In the ITC investigation, Philips seeks an order excluding communications modules, and products that contain them, from importation into the United States based on alleged infringement of 3G and 4G standard essential patents held by Philips. On October 6-14, 2021, the administrative law judge held a hearing on the merits. The administrative law judge issued an initial determination on April 1, 2022, finding no violation of any of the Philips patents asserted in the ITC. Philips sought review by the full International Trade Commission. On July 6, 2022, the Commission affirmed the administrative law judge’s determination that there was no violation of asserted Philips patents. The Commission terminated the ITC proceedings. Philips may appeal the ITC’s decision or return to the district court to pursue its civil case for damages and an injunction. On December 17, 2020, Philips filed companion cases for patent infringement against the same defendants in the United States District Court for the District of Delaware, case nos. 1:20-cv-01707, 01708, 01709, 01710, 01711, and 01713 (CFC) seeking damages, an injunction, and a declaration from the court on the amount of a fair reasonable and non-discriminatory license rate for the standard essential patents it is asserting against the communications module defendants. The district court cases have been stayed pending the resolution of the ITC proceedings. ResMed is not a party to the ITC investigation or the district court cases but sells products that incorporate some of the communications modules at issue in the cases. On June 16, 2022, Cleveland Medical Devices Inc. filed suit for patent infringement against ResMed Inc. in the United States District Court for the District of Delaware, case no. 1:22-cv-00794. Cleveland Medical asserts that numerous ResMed connected devices, when combined with ResMed’s AirView and ResScan data platforms, infringe one or more of eight Cleveland Medical patents, including U.S. Patent Nos. 10,076,269; 10,426,399; 10,925,535; 11,064,937; 10,028,698; 10,478,118; 11,202,603; and 11,234,637. Based on currently available information, we are unable to make a reasonable estimate of loss or range of losses, if any, arising from matters that remain open. 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, 2022 and 2021, receivables sold with limited recourse were $157.6 million and $153.0 million, respectively. As of June 30, 2022, the maximum exposure on outstanding receivables sold with recourse and contingent provision were $24.2 million and $2.1 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. 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. In addition, in June 2022 we signed a definitive agreement to acquire MEDIFOX DAN which is expected to close during our fiscal year 2023. The MEDIFOX DAN acquisition remains subject to regulatory clearances and other customary closing conditions. Upon closing, acquisition consideration will be paid, in part, with funds available for draw under our Revolving Credit Agreement. Obligations under our purchase agreements and the MEDIFOX DAN acquisition agreement at June 30, 2022 were as follows (in thousands): Total Fiscal Years Ending June 30 2023 2024 2025 2026 2027 Thereafter Minimum purchase obligations $ 1,707,951 $ 1,251,476 $ 440,067 $ 13,152 $ 1,431 $ — $ 1,825 MEDIFOX DAN acquisition consideration $ 994,245 $ 994,245 $ — $ — $ — $ — $ — Total $ 2,702,196 $ 2,245,721 $ 440,067 $ 13,152 $ 1,431 $ — $ 1,825

Restructuring Expenses

Restructuring Expenses	12 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring Expenses	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 years ended June 30, 2022 and 2020 we did not incur material restructuring expenses.

Schedule II Valuation And Quali

Schedule II Valuation And Qualifying Accounts And Reserves	12 Months Ended
	Jun. 30, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II Valuation And Qualifying Accounts And Reserves	SCHEDULE II RESMED INC. AND SUBSIDIARIES VALUATION AND QUALIFYING ACCOUNTS AND RESERVES June 30, 2022, 2021 and 2020 (in thousands) Balance at Charged to costs and expenses Other Balance at Year ended June 30, 2022 Applied against asset account Allowance for trade accounts receivable $ 32,138 $ 2,620 $ (11,499) $ 23,259 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 (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. 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, 2022
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. Certain prior period amounts have been reclassified to conform to the current period presentation. 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 14 – Segment Information for our net revenue disaggregated by segment, product and region for the years ended June 30, 2022, 2021 and 2020. 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 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, 2022 and 2021 (in thousands): 2022 2021 Balance sheet caption Contract assets Accounts receivable, net $ 575,950 $ 614,292 Accounts receivable, net Unbilled revenue, current 25,692 10,893 Prepaid expenses and other current assets Unbilled revenue, non-current 8,840 6,214 Prepaid taxes and other non-current assets Contract liabilities Deferred revenue, current (108,667) (109,611) Deferred revenue (current liabilities) Deferred revenue, non-current (95,455) (91,496) 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 our 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 participate in programs where we issue credits to our Sleep and Respiratory Care distributors when they are required to sell our products below negotiated list prices if we have preexisting contracts with the distributors' customers. We reduce revenue for future credits at the time of sale to the distributor, which we estimate based on historical experience using the expected value method. 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 CustomersFinancial 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.
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 forty 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.
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 not 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, 2022, 2021 and 2020, 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 not 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 gain (loss) on equity investments as a component of other income (loss), 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.
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 WarrantyWe 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. 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, 2022, 2021 and 2020.
Contingencies	ContingenciesWe 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.
Recently issued accounting standards not yet adopted and Recently adopted accounting pronouncements	Recently adopted accounting pronouncements ASU No. 2021-08 “Business Combinations: Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” In October 2021, the FASB issued ASU No. 2021-08, “Accounting for Contract Assets and Contract Liabilities from Contracts with Customers” (Topic 805), which requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers, as if it had originated the contracts. This approach differs from the current requirement to measure contract assets and contract liabilities acquired in a business combination at fair value. The guidance is effective for us beginning in the first quarter of the year ending June 30, 2024 and early adoption is permitted. We elected to early adopt this standard in the second quarter of our fiscal year ending June 30, 2022. Adoption of ASU 2021-08 did not have a material impact on our consolidated financial statements.

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary Of Contract Balances	The following table summarizes our contract balances as of June 30, 2022 and 2021 (in thousands): 2022 2021 Balance sheet caption Contract assets Accounts receivable, net $ 575,950 $ 614,292 Accounts receivable, net Unbilled revenue, current 25,692 10,893 Prepaid expenses and other current assets Unbilled revenue, non-current 8,840 6,214 Prepaid taxes and other non-current assets Contract liabilities Deferred revenue, current (108,667) (109,611) Deferred revenue (current liabilities) Deferred revenue, non-current (95,455) (91,496) Deferred revenue (non-current liabilities)

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	12 Months Ended
	Jun. 30, 2022
Supplemental Balance Sheet Information [Abstract]
Schedule Of Inventories	Components of selected captions in the consolidated balance sheets consisted of the following as of June 30, 2022 and June 30, 2021 (in thousands): Inventories 2022 2021 Raw materials $ 355,225 $ 155,419 Work in progress 3,077 4,647 Finished goods 385,608 296,967 Total inventories $ 743,910 $ 457,033
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets 2022 2021 Prepaid taxes $ 99,352 $ 72,409 Prepaid inventories 107,291 6,952 Other prepaid expenses and current assets 131,265 128,793 Total prepaid expenses and other current assets $ 337,908 $ 208,154
Components Of Property, Plant And Equipment	Property, plant and equipment 2022 2021 Machinery and equipment $ 390,634 $ 349,022 Computer equipment and software 199,671 194,386 Furniture and fixtures 54,098 54,435 Vehicles and aircraft 19,231 5,959 Clinical, demonstration and rental equipment 105,440 110,620 Leasehold improvements 80,855 77,392 Land 51,864 54,458 Buildings 229,502 239,357 Property, plant and equipment, at cost $ 1,131,295 $ 1,085,629 Accumulated depreciation and amortization (633,114) (622,139) Property, plant and equipment, net $ 498,181 $ 463,490

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, net (Tables)	12 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Changes In Carrying Amount Of Goodwill	Changes in the carrying amount of goodwill is comprised of the following for the year ended June 30, 2022 (in thousands): 2022 Sleep and SaaS Total Balance at the beginning of the period $ 633,183 $ 1,294,718 $ 1,927,901 Business acquisitions 38,953 — 38,953 Foreign currency translation adjustments (30,412) — (30,412) Balance at the end of the period $ 641,724 $ 1,294,718 $ 1,936,442
Schedule Of Other Intangible Assets, Net	Other intangibles, net are comprised of the following as of June 30, 2022 and June 30, 2021 (in thousands): 2022 2021 Developed/core product technology $ 350,671 $ 383,319 Accumulated amortization (239,647) (239,049) Developed/core product technology, net 111,024 144,270 Customer relationships 257,034 272,703 Accumulated amortization (91,731) (90,976) Customer relationships, net 165,303 181,727 Other intangibles 204,580 197,662 Accumulated amortization (134,963) (131,077) Other intangibles, net 69,617 66,585 Total other intangibles, net $ 345,944 $ 392,582
Schedule Of Amortization Expense Related To Identifiable Intangible Assets, Including Patents	Total estimated annual amortization expense for the years ending June 30, 2023 through June 30, 2027, is shown below (in thousands): Fiscal Years Ending June 30 2023 2024 2025 2026 2027 Estimated amortization expense $ 61,374 $ 57,594 $ 53,157 $ 47,902 $ 29,667

Investments (Tables)

Investments (Tables)	12 Months Ended
	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule Of Investments	Equity investments by measurement category as of June 30, 2022 and June 30, 2021 were as follows (in thousands): Measurement category 2022 2021 Fair value $ 9,167 $ 29,084 Measurement alternative 39,290 23,002 Equity method 9,918 17,154 Total $ 58,375 $ 69,240
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, 2022 (in thousands): Non-marketable securities Marketable securities Equity method investments Total Balance at the beginning of the period $ 23,002 $ 29,084 $ 17,154 $ 69,240 Net additions (reductions) to investments (1) 11,775 (3,202) 1,250 9,823 Observable price adjustments on non-marketable equity securities 5,367 — — 5,367 Unrealized losses on marketable equity securities — (18,341) — (18,341) Realized gains on marketable and non-marketable equity securities 2,355 1,626 — 3,981 Impairment of investments (3,209) — — (3,209) Loss attributable to equity method investments — — (8,486) (8,486) Carrying value at the end of the period $ 39,290 $ 9,167 $ 9,918 $ 58,375 (1) Net additions (reductions) to investments includes additions from purchases, reductions due to exits of securities, or reclassifications due to our acquisition of an investee in which we held a prior equity interest. 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 Additions to investments 2,538 5,000 14,250 21,788 Observable price adjustments on non-marketable equity securities 1,000 — — 1,000 Unrealized gains on marketable equity securities — 13,515 — 13,515 Reclassifications (2) (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

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Jun. 30, 2022
Payables and Accruals [Abstract]
Schedule Of Accrued Expenses	Accrued expenses at June 30, 2022 and June 30, 2021 consist of the following (in thousands): 2022 2021 Product warranties (note 8) $ 25,889 $ 22,032 Consulting and professional fees 25,073 21,246 Value added taxes and other taxes due 26,340 26,542 Employee related costs 194,736 199,917 Promotional and marketing 6,485 4,127 Accrued interest 7,983 8,338 Logistics and occupancy costs 32,160 14,954 Inventory in transit 11,554 7,146 Other 14,502 16,297 Total accrued expenses $ 344,722 $ 320,599

Product Warranties (Tables)

Product Warranties (Tables)	12 Months Ended
	Jun. 30, 2022
Product Warranties Disclosures [Abstract]
Schedule Of Changes In Liability For Warranty Costs	Changes in the liability for product warranty for the years ended June 30, 2022 and June 30, 2021 are as follows (in thousands): 2022 2021 Balance at the beginning of the period $ 22,032 $ 21,132 Warranty accruals for the period 17,442 14,366 Warranty costs incurred for the period (12,124) (14,858) Foreign currency translation adjustments (1,461) 1,392 Balance at the end of the period $ 25,889 $ 22,032

Debt (Tables)

Debt (Tables)	12 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule Of Debt	Debt at June 30, 2022 and June 30, 2021 consists of the following (in thousands): 2022 2021 Short-term debt $ 10,000 $ 12,000 Deferred borrowing costs (84) — Short-term debt, net 9,916 12,000 Long-term debt $ 770,000 $ 646,000 Deferred borrowing costs (4,675) (2,649) Long-term debt, net $ 765,325 $ 643,351 Total debt $ 775,241 $ 655,351

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Schedule Of Future Minimum Lease Payments	Future lease payments under non-cancellable operating leases as of June 30, 2022 are as follows (in thousands): Total 2023 2024 2025 2026 2027 Thereafter Minimum lease payments $ 161,219 $ 25,488 $ 19,561 $ 16,617 $ 15,783 $ 15,254 $ 68,516 Less: imputed interest (18,910) Total lease liabilities $ 142,309
Schedule Of Operating Lease Disclosure	The supplemental information related to operating leases for the years ended June 30, 2022 and June 30, 2021 was as follows (in thousands): 2022 2021 Weighted-average inputs: Weighted-average remaining lease term (years) 8.8 8.5 Weighted-average discount rate 2.8 % 3.0 % Cash flow information: Operating cash flows paid for amounts included in the measurement of lease liabilities $ 26,462 $ 27,734 Right of use assets obtained in exchange for new lease liabilities: $ 41,382 $ 36,130
Schedule Of Components Of Lease Revenue	The components of lease revenue for the years ended June 30, 2022, 2021 and 2020 were as follows (in thousands): 2022 2021 2020 Sales-type lease revenue $ 9,342 $ 9,758 $ 13,457 Operating lease revenue 90,076 93,431 87,874 Total lease revenue $ 99,418 $ 103,189 $ 101,331
Schedule Of Sales-type Lease, Net Investment In Lease	Our net investment in sales-type leases were classified in the consolidated balance sheets as of June 30, 2022 and June 30, 2021 as follows (in thousands): 2022 2021 Accounts receivable, net $ 6,473 $ 8,026 Prepaid taxes and other non-current assets 7,635 6,214 Total $ 14,108 $ 14,240
Schedule Of Maturities Of Sales-type Leases	Maturities of sales-type leases as of June 30, 2022 were as follows (in thousands): Total 2023 2024 2025 2026 2027 Thereafter Remaining lease payments $ 16,068 $ 6,757 $ 4,207 $ 2,057 $ 1,915 $ 1,132 — Less: imputed interest (1,960) Present value of remaining lease payments $ 14,108

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Schedule Of Activity Of Restricted Stock Units	The following table summarizes the activity of RSUs, including PRSUs, during year ended June 30, 2022 (in thousands, except years and per share amounts): Restricted Weighted Weighted Outstanding at beginning of period 875 $ 145.19 1.5 Granted 288 259.46 Vested* (575) 113.85 Performance factor adjustment 175 — Forfeited (82) 184.30 Outstanding at end of period 681 $ 203.46 1.6 * Includes 206 thousand shares netted for tax.
Schedule Of Option Activity	The following table summarizes option activity during the year ended June 30, 2022 (in thousands, except years and per share amounts): Options Weighted Weighted Outstanding at beginning of period 1,060 $ 97.01 3.7 Granted 56 256.33 Exercised (177) 63.31 Forfeited (1) 110.19 Outstanding at end of period 938 $ 112.91 3.2 Options exercisable at end of period 792 $ 96.14 2.8 Options vested and expected to vest at end of period 932 $ 112.10 3.2
Schedule Of Assumptions For Fair Value Of Stock Option Plans And Purchase Rights Granted	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, 2022, 2021 and 2020: 2022 2021 2020 Stock options: Weighted average grant date fair value $72.16 $53.67 $32.14 Weighted average risk-free interest rate 1.29% 0.37% 1.58% Expected life in years 4.9 4.9 4.9 Dividend yield 0.66% 0.75% 1.07% Expected volatility 32% 31% 25% ESPP purchase rights: Weighted average grant date fair value $50.46 $48.18 $31.82 Weighted average risk-free interest rate 0.3% 0.1% 1.6% Expected life in years 6 months 6 months 6 months Dividend yield 0.63% - 0.98% 0.79% - 0.98% 0.98% - 1.42% Expected volatility 20% - 34% 30% - 60% 23% - 60%
Schedule Of Total Stock-Based Compensation Costs Incurred And Associated Tax Benefit Recognized	The following table summarizes the total stock-based compensation costs incurred and the associated tax benefit recognized during the years ended June 30, 2022, 2021 and 2020 (in thousands): 2022 2021 2020 Cost of sales $ 5,218 $ 4,153 $ 3,703 Selling, general and administrative expenses 50,791 51,727 47,265 Research and development expenses 9,248 8,047 6,591 Stock-based compensation costs 65,257 63,927 57,559 Tax benefit (29,262) (23,346) (39,534) Stock-based compensation costs, net of tax benefit $ 35,995 $ 40,581 $ 18,025

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule Of Basic And Diluted Earnings Per Share	Basic and diluted earnings per share for the years ended June 30, 2022, 2021 and 2020 are calculated as follows (in thousands except per share data): 2022 2021 2020 Numerator: Net income $ 779,437 $ 474,505 $ 621,674 Denominator: Basic weighted-average common shares outstanding 146,066 145,313 144,338 Effect of dilutive securities: Stock options and restricted stock units 977 1,138 1,314 Diluted weighted average shares 147,043 146,451 145,652 Basic earnings per share $ 5.34 $ 3.27 $ 4.31 Diluted earnings per share $ 5.30 $ 3.24 $ 4.27

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Schedule Of Income Before Income Taxes Under The Jurisdictions	Income before income taxes for the years ended June 30, 2022, 2021 and 2020, was taxed under the following jurisdictions (in thousands): 2022 2021 2020 U.S. $ (85,919) $ 71,867 $ 60,548 Non-U.S. 1,046,402 811,795 672,540 Income before income taxes $ 960,483 $ 883,662 $ 733,088
Schedule Of Provision For Income Taxes	The provision for income taxes is presented below (in thousands): 2022 2021 2020 Current: Federal $ 4,376 $ (115,109) $ 9,790 State 10,700 9,041 6,898 Non-U.S. 177,788 531,812 124,602 192,864 425,744 141,290 Deferred: Federal (12,612) (22,791) (13,000) State (2,773) (4,205) (3,335) Non-U.S. 3,567 10,409 (13,541) (11,818) (16,587) (29,876) Provision for income taxes $ 181,046 $ 409,157 $ 111,414
Schedule Of Provision For Income Tax Differ From The Amount Of Income Tax	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, 2022, 2021 and 2020, to pretax income as a result of the following (in thousands): 2022 2021 2020 Taxes computed at statutory U.S. rate $ 201,701 $ 185,569 $ 153,949 Increase (decrease) in income taxes resulting from: State income taxes, net of U.S. tax benefit 5,703 4,836 3,563 Research and development credit (17,517) (20,257) (13,595) Change in valuation allowance 858 (3,785) 7,216 Effect of non-U.S. tax rates (4,384) (12,130) (20,935) Foreign tax credits (2,299) (7,210) (4,026) Stock-based compensation expense (11,294) (4,498) (20,696) Uncertain tax position — 248,773 — Other 8,278 17,859 5,938 Provision for income taxes $ 181,046 $ 409,157 $ 111,414
Schedule Of Deferred Tax Assets And Liabilities Classified As Current And Non-Current	We reported net deferred tax assets and liabilities in our consolidated balance sheets at June 30, 2022 and June 30, 2021, as follows (in thousands): 2022 2021 Non-current deferred tax asset $ 79,746 $ 79,904 Non-current deferred tax liability (9,714) (11,319) Net deferred tax asset $ 70,032 $ 68,585
Components Of Deferred Tax Assets And Liabilities	The components of our deferred tax assets and liabilities at June 30, 2022 and June 30, 2021, are as follows (in thousands): 2022 2021 Deferred tax assets: Employee liabilities $ 28,556 $ 30,080 Tax credit carry overs 7,723 13,753 Inventories 10,570 11,734 Provision for warranties 4,814 4,149 Provision for doubtful debts 5,096 7,334 Net operating loss carryforwards 27,490 33,377 Capital loss carryover 4,715 6,912 Stock-based compensation expense 6,425 6,080 Deferred revenue 25,748 17,839 Research and development capitalization 82,074 58,789 Lease liabilities 21,702 25,751 Other (3,395) (4,911) 221,518 210,887 Less valuation allowance (13,572) (13,106) Deferred tax assets 207,946 197,781 Deferred tax liabilities: Goodwill and other intangibles (108,078) (104,563) Right of use assets (20,345) (23,693) Property, plant and equipment (9,491) (940) Deferred tax liabilities (137,914) (129,196) Net deferred tax asset $ 70,032 $ 68,585

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Summary Of Revenue By Segment And Reconciling Items	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, 2022, 2021 and 2020 (in thousands): 2022 2021 2020 Net revenue by segment Total Sleep and Respiratory Care $ 3,177,298 $ 2,823,235 $ 2,602,381 Software as a Service 400,829 373,590 356,734 Deferred revenue fair value adjustment (1) — — (2,102) Total Software as a Service 400,829 373,590 354,632 Total $ 3,578,127 $ 3,196,825 $ 2,957,013 Depreciation and amortization by segment Sleep and Respiratory Care $ 79,367 $ 73,151 $ 69,444 Software as a Service 7,315 5,230 3,850 Amortization of acquired intangible assets and corporate assets 72,927 78,377 81,556 Total $ 159,609 $ 156,758 $ 154,850 Net operating profit by segment Sleep and Respiratory Care $ 1,132,510 $ 1,036,712 $ 934,697 Software as a Service 93,821 93,037 82,152 Total $ 1,226,331 $ 1,129,749 $ 1,016,849 Reconciling items Corporate costs $ 155,317 $ 141,193 $ 125,993 Amortization of acquired intangible assets 70,728 76,205 79,695 Restructuring expenses — 8,673 — Litigation settlement expenses — — (600) Deferred revenue fair value adjustment (1) — — 2,102 Interest expense (income), net 22,312 23,627 39,356 Loss attributable to equity method investments 8,486 11,205 25,058 (Gain) loss on equity investments 12,202 (14,515) 14,519 Other, net (3,197) (301) (2,362) Income before income taxes $ 960,483 $ 883,662 $ 733,088 (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	The following table summarizes our net revenue disaggregated by segment, product and region for the years ended June 30, 2022, 2021 and 2020 (in thousands): 2022 2021 2020 U.S., Canada and Latin America Devices $ 1,070,420 $ 863,661 $ 792,766 Masks and other 911,387 841,452 779,561 Total Sleep and Respiratory Care $ 1,981,807 $ 1,705,113 $ 1,572,327 Software as a Service 400,829 373,590 354,632 Total $ 2,382,636 $ 2,078,703 $ 1,926,959 Combined Europe, Asia and other markets Devices $ 796,488 $ 746,379 $ 715,056 Masks and other 399,003 371,743 314,998 Total Sleep and Respiratory Care $ 1,195,491 $ 1,118,122 $ 1,030,054 Global revenue Devices $ 1,866,908 $ 1,610,040 $ 1,507,822 Masks and other 1,310,390 1,213,195 1,094,559 Total Sleep and Respiratory Care $ 3,177,298 $ 2,823,235 $ 2,602,381 Software as a Service 400,829 373,590 354,632 Total $ 3,578,127 $ 3,196,825 $ 2,957,013
Schedule Of Revenue By Geographic Area	Revenue information by geographic area for the years ended June 30, 2022, 2021 and 2020 is summarized below (in thousands): 2022 2021 2020 United States $ 2,249,381 $ 1,962,721 $ 1,828,575 Rest of the World 1,328,746 1,234,104 1,128,438 Total $ 3,578,127 $ 3,196,825 $ 2,957,013
Schedule Of Long-Lived Assets By Geographic Areas	Long-lived assets by geographic area as of June 30, 2022 and 2021 is summarized below (in thousands): 2022 2021 Australia $ 192,833 $ 186,289 United States 169,090 159,815 Singapore 72,821 64,182 Rest of the World 63,309 53,204 Total $ 498,053 $ 463,490

Legal Actions, Contingencies _2

Legal Actions, Contingencies And Commitments (Tables)	12 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Obligations Under Purchase Agreements	Obligations under our purchase agreements and the MEDIFOX DAN acquisition agreement at June 30, 2022 were as follows (in thousands): Total Fiscal Years Ending June 30 2023 2024 2025 2026 2027 Thereafter Minimum purchase obligations $ 1,707,951 $ 1,251,476 $ 440,067 $ 13,152 $ 1,431 $ — $ 1,825 MEDIFOX DAN acquisition consideration $ 994,245 $ 994,245 $ — $ — $ — $ — $ — Total $ 2,702,196 $ 2,245,721 $ 440,067 $ 13,152 $ 1,431 $ — $ 1,825

Summary Of Significant Accoun_4

Summary Of Significant Accounting Policies (Narrative) (Details)	12 Months Ended
	Jun. 30, 2022 USD ($) segment	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of operating segments | segment	2
Depreciation	$ 81,000,000	$ 78,400,000	$ 65,600,000
Impairment of intangible assets	0	0	$ 0
Foreign currency instruments with notional amounts	$ 602,000,000	$ 556,400,000
Patents
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, estimated useful life	10 years
Minimum
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue recognized, term	1 year
Estimated useful life of property, plant and equipment, years	2 years
Intangible assets, estimated useful life	2 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue recognized, term	5 years
Estimated useful life of property, plant and equipment, years	10 years
Intangible assets, estimated useful life	15 years
Buildings
Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of property, plant and equipment, years	40 years

Summary Of Significant Accoun_5

Summary Of Significant Accounting Policies (Summary Of Contract Balances) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Contract assets
Accounts receivable, net	$ 575,950	$ 614,292
Contract liabilities
Deferred revenue, current	(108,667)	(109,611)
Deferred revenue, non-current	(95,455)	(91,496)
Accounts receivable, net
Contract assets
Accounts receivable, net	575,950	614,292
Prepaid taxes and other non-current assets
Contract assets
Unbilled revenue, current	25,692	10,893
Unbilled revenue, non-current	$ 8,840	$ 6,214

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Inventories
Raw materials	$ 355,225	$ 155,419
Work in progress	3,077	4,647
Finished goods	385,608	296,967
Total inventories	$ 743,910	$ 457,033

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information (Schedule Of Prepaid Expenses and Other Current Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Prepaid expenses and other current assets
Prepaid taxes	$ 99,352	$ 72,409
Prepaid inventories	107,291	6,952
Other prepaid expenses and current assets	131,265	128,793
Total prepaid expenses and other current assets	$ 337,908	$ 208,154

Supplemental Balance Sheet In_5

Supplemental Balance Sheet Information (Components Of Property, Plant And Equipment) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	$ 1,131,295	$ 1,085,629
Accumulated depreciation and amortization	(633,114)	(622,139)
Property, plant and equipment, net	498,181	463,490
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	390,634	349,022
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	199,671	194,386
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	54,098	54,435
Vehicles and aircraft
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	19,231	5,959
Clinical, demonstration and rental equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	105,440	110,620
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	80,855	77,392
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	51,864	54,458
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	$ 229,502	$ 239,357

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, net (Schedule Of Changes In Carrying Amount Of Goodwill) (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill [Roll Forward]
Balance at the beginning of the period	$ 1,927,901
Business acquisitions	38,953
Foreign currency translation adjustments	(30,412)
Balance at the end of the period	1,936,442
Sleep and ‎Respiratory Care
Goodwill [Roll Forward]
Balance at the beginning of the period	633,183
Business acquisitions	38,953
Foreign currency translation adjustments	(30,412)
Balance at the end of the period	641,724
SaaS
Goodwill [Roll Forward]
Balance at the beginning of the period	1,294,718
Business acquisitions	0
Foreign currency translation adjustments	0
Balance at the end of the period	$ 1,294,718

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, net (Schedule Of Other Intangible Assets, Net) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Total other intangibles, net	$ 345,944	$ 392,582
Developed/core product technology
Finite-Lived Intangible Assets [Line Items]
Other intangibles, gross	350,671	383,319
Accumulated amortization	(239,647)	(239,049)
Total other intangibles, net	111,024	144,270
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Other intangibles, gross	257,034	272,703
Accumulated amortization	(91,731)	(90,976)
Total other intangibles, net	165,303	181,727
Other intangibles
Finite-Lived Intangible Assets [Line Items]
Other intangibles, gross	204,580	197,662
Accumulated amortization	(134,963)	(131,077)
Total other intangibles, net	$ 69,617	$ 66,585

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, net (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 39,650	$ 45,127	$ 49,603
Identified Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 70,700	76,200
Patents
Finite-Lived Intangible Assets [Line Items]
Intangible assets, estimated useful life	10 years
Amortization expense	$ 6,200	$ 5,300
Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, estimated useful life	2 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, estimated useful life	15 years

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets, net (Schedule Of Amortization Expense Related To Identifiable Intangible Assets, Including Patents) (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 61,374
2024	57,594
2025	53,157
2026	47,902
2027	$ 29,667

Investments (Schedule Of Invest

Investments (Schedule Of Investments) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Fair value	$ 9,167	$ 29,084
Measurement alternative	39,290	23,002
Equity method	9,918	17,154
Total	$ 58,375	$ 69,240

Investments (Schedule Of Change

Investments (Schedule Of Changes In Equity Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Equity Method Investments [Roll Forward]
Balance at the beginning of the period	$ 69,240	$ 44,142
Net additions (reductions) to investments	9,823	21,788
Observable price adjustments on non-marketable equity securities	5,367	1,000
Unrealized gains (losses) on marketable equity securities	(18,341)	13,515
Realized gains on marketable and non-marketable equity securities	3,981
Impairment of investments	(3,209)
Reclassifications		0
Loss attributable to equity method investments	(8,486)	(11,205)	$ (25,058)
Carrying value at the end of the period	58,375	69,240	44,142
Non-marketable securities
Equity Method Investments [Roll Forward]
Balance at the beginning of the period	23,002	30,033
Net additions (reductions) to investments	11,775	2,538
Observable price adjustments on non-marketable equity securities	5,367	1,000
Realized gains on marketable and non-marketable equity securities	2,355
Impairment of investments	(3,209)
Reclassifications		(10,569)
Carrying value at the end of the period	39,290	23,002	30,033
Marketable securities
Equity Method Investments [Roll Forward]
Balance at the beginning of the period	29,084	0
Net additions (reductions) to investments	(3,202)	5,000
Unrealized gains (losses) on marketable equity securities	(18,341)	13,515
Realized gains on marketable and non-marketable equity securities	1,626
Reclassifications		10,569
Carrying value at the end of the period	9,167	29,084	0
Equity method investments
Equity Method Investments [Roll Forward]
Balance at the beginning of the period	17,154	14,109
Net additions (reductions) to investments	1,250	14,250
Loss attributable to equity method investments	(8,486)	(11,205)
Carrying value at the end of the period	$ 9,918	$ 17,154	$ 14,109

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]
Equity securities, unrealized gain (loss)	$ (16.2)	$ 14.5	$ (14.5)

Accrued Expenses (Schedule Of A

Accrued Expenses (Schedule Of Accrued Expenses) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Payables and Accruals [Abstract]
Product warranties (note 8)	$ 25,889	$ 22,032
Consulting and professional fees	25,073	21,246
Value added taxes and other taxes due	26,340	26,542
Employee related costs	194,736	199,917
Promotional and marketing	6,485	4,127
Accrued interest	7,983	8,338
Logistics and occupancy costs	32,160	14,954
Inventory in transit	11,554	7,146
Other	14,502	16,297
Total accrued expenses	$ 344,722	$ 320,599

Product Warranties (Schedule Of

Product Warranties (Schedule Of Changes In Liability For Warranty Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance at the beginning of the period	$ 22,032	$ 21,132
Warranty accruals for the period	17,442	14,366
Warranty costs incurred for the period	(12,124)	(14,858)
Foreign currency translation adjustments	(1,461)	1,392
Balance at the end of the period	$ 25,889	$ 22,032

Debt (Schedule Of Debt) (Detail

Debt (Schedule Of Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Debt Disclosure [Abstract]
Short-term debt	$ 10,000	$ 12,000
Deferred borrowing costs	(84)	0
Short-term debt	9,916	12,000
Long-term debt	770,000	646,000
Deferred borrowing costs	(4,675)	(2,649)
Long-term debt, net	765,325	643,351
Total debt	$ 775,241	$ 655,351

Debt (Narrative) (Details)

Debt (Narrative) (Details)			12 Months Ended
	Jun. 29, 2022 USD ($)	Apr. 17, 2018 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jul. 10, 2019 USD ($)
Debt Instrument [Line Items]
Debt to consolidated EBITDA ratio			3.50
Line of credit facility, collateral, percentage of the company			10%
Outstanding loan balance			$ 765,325,000	$ 643,351,000
Outstanding debt			775,241,000	655,351,000
Revolving Credit Facility And Term Credit Agreement
Debt Instrument [Line Items]
Principal payment	$ 5,000,000
Available for draw			1,400,000,000
Long-term debt, fair value			$ 280,000,000	$ 158,000,000
MUFG Union Bank NA and Westpac Banking Corporation | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	1,500,000,000	$ 1,600,000,000
Uncommitted option to increase credit facility	$ 1,000,000,000	$ 300,000,000
EBITDA multiple of trailing twelve-month measurement period	1
MUFG Union Bank NA and Westpac Banking Corporation | Revolving Credit Facility And Term Credit Agreement
Debt Instrument [Line Items]
Interest rate on outstanding principal amount			3%
MUFG Union Bank | ResMed Limited | Revolving Credit Facility And Term Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 200,000,000
Minimum | Revolving Credit Facility And Term Credit Agreement | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Credit facility interest rate equal to reference rate plus	0.75%
Minimum | Revolving Credit Facility And Term Credit Agreement | Base Rate
Debt Instrument [Line Items]
Credit facility interest rate equal to reference rate plus	0%
Minimum | MUFG Union Bank NA and Westpac Banking Corporation | Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fees percentage rate on unused portion of credit facility			0.075%
Maximum | Revolving Credit Facility And Term Credit Agreement | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Credit facility interest rate equal to reference rate plus	1.50%
Maximum | Revolving Credit Facility And Term Credit Agreement | Base Rate
Debt Instrument [Line Items]
Credit facility interest rate equal to reference rate plus	0.50%
Maximum | MUFG Union Bank NA and Westpac Banking Corporation | Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fees percentage rate on unused portion of credit facility			0.15%
3.24% Senior Notes Due July 10, 2026
Debt Instrument [Line Items]
Principal amount					$ 250,000,000
Interest rate			3.24%
3.45% Senior Notes Due July 10, 2029
Debt Instrument [Line Items]
Principal amount					$ 250,000,000
Interest rate			3.45%
Senior Notes
Debt Instrument [Line Items]
Long-term debt, fair value			$ 477,700,000
Outstanding loan balance			500,000,000
Revolving Credit Agreement, Term Credit Agreement, And Senior Notes
Debt Instrument [Line Items]
Outstanding debt			$ 780,000,000

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 35.3	$ 35.5	$ 26.5
Operating lease commitments not yet commenced	$ 0.7
Minimum
Lessee, Lease, Description [Line Items]
Lease terms	1 year
Lease terms, not yet commenced	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease terms	14 years
Lease terms, not yet commenced	5 years

Leases (Schedule Of Future Mini

Leases (Schedule Of Future Minimum Lease Payments) (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Leases [Abstract]
2023	$ 25,488
2024	19,561
2025	16,617
2026	15,783
2027	15,254
Thereafter	68,516
Total minimum lease payments	161,219
Less: imputed interest	(18,910)
Total lease liabilities	$ 142,309

Leases (Schedule Of Operating L

Leases (Schedule Of Operating Lease Disclosure) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Weighted-average remaining lease term (years)	8 years 9 months 18 days	8 years 6 months
Weighted-average discount rate	2.80%	3%
Operating cash flows paid for amounts included in the measurement of lease liabilities	$ 26,462	$ 27,734
Right of use assets obtained in exchange for new lease liabilities:	$ 41,382	$ 36,130

Leases (Schedule Of Components

Leases (Schedule Of Components Of Lease Revenue) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Sales-type lease revenue	$ 9,342	$ 9,758	$ 13,457
Operating lease revenue	90,076	93,431	87,874
Total lease revenue	$ 99,418	$ 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, 2022	Jun. 30, 2021
Leases [Abstract]
Accounts receivable, net	$ 6,473	$ 8,026
Prepaid taxes and other non-current assets	7,635	6,214
Total	$ 14,108	$ 14,240

Leases (Schedule Of Maturities

Leases (Schedule Of Maturities Of Sales-type Leases) (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Leases [Abstract]
2023	$ 6,757
2024	4,207
2025	2,057
2026	1,915
2027	1,132
Thereafter	0
Total remaining lease payments	16,068
Less: imputed interest	(1,960)
Present value of remaining lease payments	$ 14,108

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) $ / shares in Units, $ in Thousands		1 Months Ended	12 Months Ended
	Oct. 31, 2017 USD ($)	Nov. 30, 2017 USD ($) shares	Jun. 30, 2022 USD ($) offering $ / shares shares	Jun. 30, 2021 USD ($) $ / shares shares	Jun. 30, 2020 USD ($) shares	Feb. 21, 2014 shares	Apr. 30, 1997 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized to be repurchased under repurchase program (shares) | shares						20,000,000
Additional shares that can be repurchased under the approved share repurchase program (shares) | shares			12,900,000
Preferred stock, shares authorized (shares) | shares			2,000,000	2,000,000			2,000,000
Preferred stock at par value (in dollars per share) | $ / shares			$ 0.01	$ 0.01			$ 0.01
Preferred stock, shares outstanding (shares) | shares			0
Preferred stock, shares issued (shares) | shares			0	0
Expiration period			7 years
Reduction in the number of shares of common stock available for issuance (shares)			2.8
Maximum number of shares subject to awards granted (shares) | shares			3,000,000
Number of common stock shares granted in participant's initial year of hiring (shares) | shares			4,500,000
Fair value of RSUs and PRSUs | $			$ 65,500	$ 59,600	$ 56,800
Aggregate intrinsic value of the options exercised | $			33,700	$ 8,900	$ 31,200
Aggregate intrinsic value of the stock-based compensation arrangements outstanding | $			93,500
Aggregate intrinsic value of the stock-based compensation arrangements exercisable | $			89,900
Aggregate intrinsic value of the stock-based compensation arrangements exercisable, vested and expected to vest | $			$ 93,400
Shares issued under Employee Stock Purchase Plan (shares) | shares			216,000	229,000	265,000
Stock-based compensation expense | $			$ 65,257	$ 63,927	$ 57,559
Unrecognized compensation costs related to unvested stock-based compensation arrangements | $			$ 104,000
Expected weighted average period of unrecognized compensation costs related to unvested stock-based compensation arrangements			2 years 2 months 12 days
Treasury Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares repurchased pursuant to the repurchase program (shares) | shares			41,800,000
Total cost of shares repurchased pursuant to the repurchase program | $			$ 1,600,000
2009 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized for issuance and pending registration (shares) | shares		7,400,000
Extended period		4 years
Common stock authorized for issuance (shares) | shares			51,100,000
Common stock reserved for future issuance (shares) | shares			15,300,000
Amended And Restated 2009 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum amount payable pursuant to cash denominated performance awards granted | $	$ 3,000	$ 5,000
Amended And Restated 2009 Plan | Non Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum award amount with other cash fees earned for services | $		700
Amended And Restated 2009 Plan | Board Of Directors Chairman
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum award amount with other cash fees earned for services | $		$ 1,200
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (shares) | shares			1,500,000
Percentage of purchase price of common stock lower than the fair market value of common stock on the date of grant			85%
Percentage of purchase price of common stock lower than the fair market value of common stock on the date of purchase			85%
Number of offerings | offering			2
Stock-based compensation expense | $			$ 11,000	$ 10,900	$ 8,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
Minimum | Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase program offering period			3 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Maximum | Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase program offering period			27 months
Common stock shares subscribed | $			$ 25
Performance Restricted Stock Units (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Maximum amount to be issued under award, percentage			225%

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule Of Activity Of Restricted Stock Units) (Details) - Restricted Stock Units (RSUs) - $ / shares	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Restricted ‎Stock ‎Units
Outstanding at beginning of period (shares)	875,000
Granted (shares)	288,000
Vested (shares)	(575,000)
Performance factor adjustment (shares)	175,000
Forfeited (shares)	(82,000)
Outstanding at end of period (shares)	681,000	875,000
Weighted ‎Average ‎Grant-Date ‎Fair Value
Outstanding at beginning of period (usd per share)	$ 145.19
Granted (usd per share)	259.46
Vested (usd per share)	113.85
Performance factor adjustments (usd per share)	0
Forfeited (usd per share)	184.30
Outstanding at end of period (usd per share)	$ 203.46	$ 145.19
Weighted ‎Average ‎Remaining ‎Contractual ‎Term in Years
Outstanding	1 year 7 months 6 days	1 year 6 months
Exercisable shares, netted for tax (shares)	206,000

Stockholders' Equity (Schedul_2

Stockholders' Equity (Schedule Of Option Activity) (Details) - $ / shares shares in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Options
Outstanding at beginning of period (shares)	1,060
Granted (shares)	56
Exercised (shares)	(177)
Forfeited (shares)	(1)
Outstanding at end of period (shares)	938	1,060
Options exercisable at end of period (shares)	792
Options vested and expected to vest at end of period (shares)	932
Weighted ‎Average ‎Exercise ‎Price
Outstanding at beginning of period (usd per share)	$ 97.01
Granted (usd per share)	256.33
Exercised (usd per share)	63.31
Forfeited (usd per share)	110.19
Outstanding at end of period (usd per share)	112.91	$ 97.01
Options exercisable at end of period (usd per share)	96.14
Options vested and expected to vest at end of period (usd per share)	$ 112.10
Weighted ‎Average ‎Remaining ‎Contractual ‎Term in Years
Outstanding at end of period	3 years 2 months 12 days	3 years 8 months 12 days
Options exercisable at end of period	2 years 9 months 18 days
Options vested and expected to vest at end of period	3 years 2 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, 2022	Jun. 30, 2021	Jun. 30, 2020
Stock options:
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (usd per share)	$ 72.16	$ 53.67	$ 32.14
Weighted average risk-free interest rate	1.29%	0.37%	1.58%
Expected life in years	4 years 10 months 24 days	4 years 10 months 24 days	4 years 10 months 24 days
Dividend yield	0.66%	0.75%	1.07%
Expected volatility	32%	31%	25%
ESPP purchase rights:
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value (usd per share)	$ 50.46	$ 48.18	$ 31.82
Weighted average risk-free interest rate	0.30%	0.10%	1.60%
Expected life in years	6 months	6 months	6 months
Expected volatility, minimum	20%	30%	23%
Expected volatility, maximum	34%	60%	60%
ESPP purchase rights: | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.63%	0.79%	0.98%
ESPP purchase rights: | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.98%	0.98%	1.42%

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, 2022	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation costs	$ 65,257	$ 63,927	$ 57,559
Tax benefit	(29,262)	(23,346)	(39,534)
Stock-based compensation costs, net of tax benefit	35,995	40,581	18,025
Cost of sales
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation costs	5,218	4,153	3,703
Selling, general and administrative expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation costs	50,791	51,727	47,265
Research and development expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation costs	$ 9,248	$ 8,047	$ 6,591

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Stock options and restricted stock units not included in the computation of diluted earnings per share	67,000,000	141,000,000	164,000,000

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, 2022	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net income	$ 779,437	$ 474,505	$ 621,674
Denominator:
Basic weighted-average common shares outstanding (shares)	146,066	145,313	144,338
Effect of dilutive securities:
Stock options and restricted stock units (shares)	977	1,138	1,314
Diluted weighted average shares (shares)	147,043	146,451	145,652
Basic earnings per share (usd per share)	$ 5.34	$ 3.27	$ 4.31
Diluted earnings per share (usd per share)	$ 5.30	$ 3.24	$ 4.27

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, 2022	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
U.S.	$ (85,919)	$ 71,867	$ 60,548
Non-U.S.	1,046,402	811,795	672,540
Income before income taxes	$ 960,483	$ 883,662	$ 733,088

Income Taxes (Schedule Of Provi

Income Taxes (Schedule Of Provision For Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Current:
Federal	$ 4,376	$ (115,109)	$ 9,790
State	10,700	9,041	6,898
Non-U.S.	177,788	531,812	124,602
Total	192,864	425,744	141,290
Deferred:
Federal	(12,612)	(22,791)	(13,000)
State	(2,773)	(4,205)	(3,335)
Non-U.S.	3,567	10,409	(13,541)
Total	(11,818)	(16,587)	(29,876)
Provision for income taxes	$ 181,046	$ 409,157	$ 111,414

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, 2022	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Taxes computed at statutory U.S. rate	$ 201,701	$ 185,569	$ 153,949
State income taxes, net of U.S. tax benefit	5,703	4,836	3,563
Research and development credit	(17,517)	(20,257)	(13,595)
Change in valuation allowance	858	(3,785)	7,216
Effect of non-U.S. tax rates	(4,384)	(12,130)	(20,935)
Foreign tax credits	(2,299)	(7,210)	(4,026)
Stock-based compensation expense	(11,294)	(4,498)	(20,696)
Uncertain tax position	0	248,773	0
Other	8,278	17,859	5,938
Provision for income taxes	$ 181,046	$ 409,157	$ 111,414

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, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Non-current deferred tax asset	$ 79,746	$ 79,904
Non-current deferred tax liability	(9,714)	(11,319)
Net deferred tax asset	$ 70,032	$ 68,585

Income Taxes (Components Of Def

Income Taxes (Components Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021
Deferred tax assets:
Employee liabilities	$ 28,556	$ 30,080
Tax credit carry overs	7,723	13,753
Inventories	10,570	11,734
Provision for warranties	4,814	4,149
Provision for doubtful debts	5,096	7,334
Net operating loss carryforwards	27,490	33,377
Capital loss carryover	4,715	6,912
Stock-based compensation expense	6,425	6,080
Deferred revenue	25,748	17,839
Research and development capitalization	82,074	58,789
Lease liabilities	21,702	25,751
Other	(3,395)	(4,911)
Deferred tax assets, Gross	221,518	210,887
Less valuation allowance	(13,572)	(13,106)
Deferred tax assets	207,946	197,781
Deferred tax liabilities:
Goodwill and other intangibles	(108,078)	(104,563)
Right of use assets	(20,345)	(23,693)
Property, plant and equipment	(9,491)	(940)
Deferred tax liabilities	(137,914)	(129,196)
Net deferred tax asset	$ 70,032	$ 68,585

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Sep. 28, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Income Taxes [Line Items]
Increase to net earnings from tax holidays and tax incentives program		$ 38	$ 33.6	$ 43.8
Increase to net earnings per diluted share from tax holidays and tax incentives program (usd per share)		$ 0.26	$ 0.23	$ 0.30
Undistributed earnings		$ 3,600
Australian Taxation Office
Income Taxes [Line Items]
Percentage of recognized tax benefit for uncertain tax position		50%
Domestic Tax Authority
Income Taxes [Line Items]
Operating loss carryforwards		$ 19.8
Amount of deferred taxes that would have been recognized if the earnings has not been permanently reinvested		194.9
Domestic Tax Authority | Australian Taxation Office
Income Taxes [Line Items]
Net impact of settlement		238.7
Gross settlement	$ 381.7	381.7
Penalties and interest		48.1
Liability (refund) adjustment from settlement with taxing authority		143
Remitted final payment	284.8
Prior remittance payments	$ 96.9
Foreign Tax Authority
Income Taxes [Line Items]
Operating loss carryforwards		6.9
Foreign Tax Authority | Australian Taxation Office
Income Taxes [Line Items]
Other comprehensive income, foreign currency translation adjustment, tax		14.1
Tax credits and deductions		4.1
State and Local Jurisdiction
Income Taxes [Line Items]
Amount of deferred taxes that would have been recognized if the earnings has not been permanently reinvested		5.2
Valuation Allowance | Foreign Tax Authority
Income Taxes [Line Items]
Operating loss carryforwards		0.8
Capital loss		$ 12.7

Segment Information (Narrative)

Segment Information (Narrative) (Details)	12 Months Ended
	Jun. 30, 2022 segment
Segment Reporting [Abstract]
Number of operating segments	2

Segment Information (Summary Of

Segment Information (Summary Of Revenue By Segment And Reconciling Items) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Net revenue	$ 3,578,127	$ 3,196,825	$ 2,957,013
Depreciation and amortization	159,609	156,758	154,850
Net operating profit by segment	1,000,286	903,678	809,659
Amortization of acquired intangible assets	31,078	31,078	30,092
Restructuring expenses	0	8,673	0
Litigation settlement expenses	0	0	(600)
Loss attributable to equity method investments	(8,486)	(11,205)	(25,058)
(Gain) loss on equity investments	(12,202)	14,515	(14,519)
Other, net	3,197	301	2,362
Income before income taxes	960,483	883,662	733,088
Operating Segments
Segment Reporting Information [Line Items]
Net operating profit by segment	1,226,331	1,129,749	1,016,849
Corporate Costs
Segment Reporting Information [Line Items]
Depreciation and amortization	72,927	78,377	81,556
Reconciling items
Segment Reporting Information [Line Items]
Deferred revenue fair value adjustment	0	0	(2,102)
Corporate costs	155,317	141,193	125,993
Amortization of acquired intangible assets	70,728	76,205	79,695
Restructuring expenses	0	8,673	0
Litigation settlement expenses	0	0	(600)
Deferred revenue fair value adjustment	0	0	2,102
Interest expense (income), net	22,312	23,627	39,356
Loss attributable to equity method investments	8,486	11,205	25,058
(Gain) loss on equity investments	12,202	(14,515)	14,519
Other, net	(3,197)	(301)	(2,362)
Income before income taxes	960,483	883,662	733,088
Total Sleep and Respiratory Care | Operating Segments
Segment Reporting Information [Line Items]
Net revenue	3,177,298	2,823,235	2,602,381
Depreciation and amortization	79,367	73,151	69,444
Net operating profit by segment	1,132,510	1,036,712	934,697
Software as a Service
Segment Reporting Information [Line Items]
Deferred revenue fair value adjustment	0	0	(2,102)
Deferred revenue fair value adjustment	0	0	2,102
Software as a Service | Operating Segments
Segment Reporting Information [Line Items]
Net revenue	400,829	373,590	354,632
Revenue before deferred revenue fair value adjustment	400,829	373,590	356,734
Depreciation and amortization	7,315	5,230	3,850
Net operating profit by segment	$ 93,821	$ 93,037	$ 82,152

Segment Information (Schedule O

Segment Information (Schedule Of Revenue By Segment, Product, And Region) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Net revenue	$ 3,578,127	$ 3,196,825	$ 2,957,013
U.S., Canada and Latin America
Segment Reporting Information [Line Items]
Net revenue	2,382,636	2,078,703	1,926,959
Global revenue
Segment Reporting Information [Line Items]
Net revenue	3,578,127	3,196,825	2,957,013
Operating Segments | Sleep and ‎Respiratory Care | U.S., Canada and Latin America
Segment Reporting Information [Line Items]
Net revenue	1,981,807	1,705,113	1,572,327
Operating Segments | Sleep and ‎Respiratory Care | U.S., Canada and Latin America | Devices
Segment Reporting Information [Line Items]
Net revenue	1,070,420	863,661	792,766
Operating Segments | Sleep and ‎Respiratory Care | U.S., Canada and Latin America | Masks and other
Segment Reporting Information [Line Items]
Net revenue	911,387	841,452	779,561
Operating Segments | Sleep and ‎Respiratory Care | Combined Europe, Asia and other markets
Segment Reporting Information [Line Items]
Net revenue	1,195,491	1,118,122	1,030,054
Operating Segments | Sleep and ‎Respiratory Care | Combined Europe, Asia and other markets | Devices
Segment Reporting Information [Line Items]
Net revenue	796,488	746,379	715,056
Operating Segments | Sleep and ‎Respiratory Care | Combined Europe, Asia and other markets | Masks and other
Segment Reporting Information [Line Items]
Net revenue	399,003	371,743	314,998
Operating Segments | Sleep and ‎Respiratory Care | Global revenue
Segment Reporting Information [Line Items]
Net revenue	3,177,298	2,823,235	2,602,381
Operating Segments | Sleep and ‎Respiratory Care | Global revenue | Devices
Segment Reporting Information [Line Items]
Net revenue	1,866,908	1,610,040	1,507,822
Operating Segments | Sleep and ‎Respiratory Care | Global revenue | Masks and other
Segment Reporting Information [Line Items]
Net revenue	1,310,390	1,213,195	1,094,559
Operating Segments | Software as a Service
Segment Reporting Information [Line Items]
Net revenue	400,829	373,590	354,632
Operating Segments | Software as a Service | U.S., Canada and Latin America
Segment Reporting Information [Line Items]
Net revenue	400,829	373,590	354,632
Operating Segments | Software as a Service | Global revenue
Segment Reporting Information [Line Items]
Net revenue	$ 400,829	$ 373,590	$ 354,632

Segment Information (Schedule_2

Segment Information (Schedule Of Revenue By Geographic Area) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 3,578,127	$ 3,196,825	$ 2,957,013
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	2,249,381	1,962,721	1,828,575
Rest of the World
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 1,328,746	$ 1,234,104	$ 1,128,438

Segment Information (Schedule_3

Segment Information (Schedule Of Long-Lived Assets By Geographic Areas) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Long lived assets	$ 498,053	$ 463,490
Australia
Revenues from External Customers and Long-Lived Assets [Line Items]
Long lived assets	192,833	186,289
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long lived assets	169,090	159,815
Singapore
Revenues from External Customers and Long-Lived Assets [Line Items]
Long lived assets	72,821	64,182
Rest of the World
Revenues from External Customers and Long-Lived Assets [Line Items]
Long lived assets	$ 63,309	$ 53,204

Employee Retirement Plans (Narr

Employee Retirement Plans (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
United States
Defined Benefit Plan Disclosure [Line Items]
Percentage of contribution by the company to the retirement plans	4%
Total contribution by the company to the employee retirement plans	$ 11.9	$ 9.6	$ 9.3
Australia
Defined Benefit Plan Disclosure [Line Items]
Percentage of contribution by the company to the retirement plans	10%
Total contribution by the company to the employee retirement plans	$ 11.8	10.7	9.5
Singapore
Defined Benefit Plan Disclosure [Line Items]
Percentage of contribution by the company to the retirement plans	17%
Total contribution by the company to the employee retirement plans	$ 3.1	$ 2.5	$ 2.9

Legal Actions, Contingencies _3

Legal Actions, Contingencies And Commitments (Narrative) (Details) $ in Millions		12 Months Ended
	Jun. 16, 2022 patent	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Patents allegedly infringed | patent	8
Receivables sold with limited recourse		$ 157.6	$ 153
Maximum exposure on outstanding receivables		24.2	30.2
Contingent provision		$ 2.1	$ 8.2

Legal Actions, Contingencies _4

Legal Actions, Contingencies And Commitments (Obligations Under Purchase Agreements) (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Minimum purchase obligations
2023	$ 1,251,476
2024	440,067
2025	13,152
2026	1,431
2027	0
Thereafter	1,825
Total	1,707,951
MEDIFOX DAN acquisition consideration
2023	994,245
2024	0
2025	0
2026	0
2027	0
Thereafter	0
Total	994,245
Total
2023	2,245,721
2024	440,067
2025	13,152
2026	1,431
2027	0
Thereafter	1,825
Total	$ 2,702,196

Restructuring Expenses (Narrati

Restructuring Expenses (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	$ 0		$ 0
Restructuring expenses	$ 0	$ 8,673	$ 0
Portable Oxygen Concentrator Business Closure
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		13,900
Inventory write-downs		5,200
Accelerated amortization		5,100
Asset impairments		2,300
Employee-related costs		700
Contract cancellation costs		600
Cost of sales		5,200
Restructuring expenses		$ 8,700

Schedule II Valuation And Qua_2

Schedule II Valuation And Qualifying Accounts And Reserves (Details) - Applied Against Asset Account Allowance For Doubtful Accounts - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 32,138	$ 28,508	$ 25,171
Charged to costs and expenses	2,620	7,805	18,283
Other (deductions)	(11,499)	(5,680)	(14,946)
Balance at end of period	$ 23,259	32,138	28,508
Cumulative Effect, Period of Adoption, Adjusted Balance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period		$ 30,013
Balance at end of period			$ 30,013