ResMed (RMD) 10-Q 27 Oct 22 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 30, 2022	Oct. 24, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-15317
Entity Registrant Name	ResMed Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-0152841
Entity Address, Address Line One	9001 Spectrum Center Blvd.
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92123
Entity Address, Country	US
City Area Code	858
Local Phone Number	836-5000
Title of 12(b) Security	Common Stock, par value $0.004 per share
Trading Symbol	RMD
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		146,483,650
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--06-30
Entity Central Index Key	0000943819

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Current assets:
Cash and cash equivalents	$ 207,163	$ 273,710
Accounts receivable, net of allowances of $23,867 and $23,259 at September 30, 2022 and June 30, 2022, respectively	620,483	575,950
Inventories (note 3)	864,852	743,910
Prepaid expenses and other current assets (note 3)	341,199	337,908
Total current assets	2,033,697	1,931,478
Non-current assets:
Property, plant and equipment, net (note 3)	487,376	498,181
Operating lease right-of-use assets	125,319	132,314
Goodwill (note 4)	1,938,843	1,936,442
Other intangible assets, net (note 3)	338,151	345,944
Deferred income taxes	80,745	79,746
Prepaid taxes and other non-current assets	173,429	171,748
Total non-current assets	3,143,863	3,164,375
Total assets	5,177,560	5,095,853
Current liabilities:
Accounts payable	181,485	159,245
Accrued expenses	324,055	344,722
Operating lease liabilities, current	21,076	21,856
Deferred revenue	108,195	108,667
Income taxes payable (note 6)	47,942	44,893
Short-term debt, net (note 8)	9,906	9,916
Total current liabilities	692,659	689,299
Non-current liabilities:
Deferred revenue	97,620	95,455
Deferred income taxes	11,830	9,714
Operating lease liabilities, non-current	114,214	120,453
Other long-term liabilities	5,838	5,974
Long-term debt, net (note 8)	785,436	765,325
Long-term income taxes payable (note 6)	37,076	48,882
Total non-current liabilities	1,052,014	1,045,803
Total liabilities	1,744,673	1,735,102
Commitments and contingencies (note 10)
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; 188,295,266 issued and 146,459,032 outstanding at September 30, 2022 and 188,246,955 issued and 146,410,721 outstanding at June 30, 2022	586	586
Additional paid-in capital	1,701,902	1,682,432
Retained earnings	3,759,783	3,613,736
Treasury stock, at cost, 41,836,234 shares at September 30, 2022 and June 30, 2022	(1,623,256)	(1,623,256)
Accumulated other comprehensive loss	(406,128)	(312,747)
Total stockholders’ equity	3,432,887	3,360,751
Total liabilities and stockholders’ equity	$ 5,177,560	$ 5,095,853

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit loss, current	$ 23,867	$ 23,259
Preferred stock, par value per share (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 per share (dollars per share)	$ 0.004	$ 0.004
Common stock, shares authorized (shares)	350,000,000	350,000,000
Common stock, shares issued (shares)	188,295,266	188,246,955
Common stock, shares outstanding (shares)	146,459,032	146,410,721
Treasury stock, shares (shares)	41,836,234	41,836,234

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Net revenue	$ 950,294	$ 904,015
Cost of sales (exclusive of amortization shown separately below)	403,110	386,667
Amortization of acquired intangible assets	6,374	11,059
Total cost of sales	409,484	397,726
Gross profit	540,810	506,289
Operating Expenses
Selling, general, and administrative	193,933	176,719
Research and development	63,188	59,950
Amortization of acquired intangible assets	7,950	7,707
Total operating expenses	265,071	244,376
Income from operations	275,739	261,913
Other income (loss), net:
Interest (expense) income, net	(7,134)	(5,360)
Loss attributable to equity method investments (note 5)	(2,028)	(1,386)
Gain (loss) on equity investments (note 5)	(3,280)	5,612
Other, net	(1,504)	(1,991)
Total other income (loss), net	(13,946)	(3,125)
Income before income taxes	261,793	258,788
Income taxes	51,315	55,175
Net income	$ 210,478	$ 203,613
Basic earnings per share (dollars per share)	$ 1.44	$ 1.40
Diluted earnings per share (dollars per share)	1.43	1.39
Dividend declared per share (dollars per share)	$ 0.44	$ 0.42
Basic shares outstanding (000's) (in shares)	146,431	145,680
Diluted shares outstanding (000's) (in shares)	147,134	146,860
Total Sleep and Respiratory Care
Net revenue	$ 844,443	$ 806,499
Cost of sales (exclusive of amortization shown separately below)	363,844	349,681
Amortization of acquired intangible assets	1,228	900
Software as a Service
Net revenue	105,851	97,516
Cost of sales (exclusive of amortization shown separately below)	39,266	36,986
Amortization of acquired intangible assets	$ 5,146	$ 10,159

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income	$ 210,478	$ 203,613
Other comprehensive income (loss):
Foreign currency translation (loss) gain adjustments	(93,381)	(23,516)
Comprehensive income	$ 117,097	$ 180,097

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Changes In Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional ‎Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated ‎Other ‎Comprehensive Income (Loss)
Common stock, shares outstanding, beginning balance (shares) at Jun. 30, 2021		187,485,000
Beginning balance at Jun. 30, 2021	$ 2,885,679	$ 583	$ 1,622,199	$ (1,623,256)	$ 3,079,640	$ (193,487)
Treasury stock, common, beginning balance (shares) at Jun. 30, 2021				(41,836,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued on exercise of options (shares)		61,000
Common stock issued on exercise of options	4,354		4,354
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (shares)		1,000
Common stock issued on vesting of restricted stock units, net of shares withheld for tax	(195)		(195)
Stock-based compensation costs	17,303		17,303
Other comprehensive income (loss)	(23,516)					(23,516)
Net income	203,613				203,613
Dividends declared	(61,189)				(61,189)
Common stock, shares outstanding, ending balance (shares) at Sep. 30, 2021		187,547,000
Ending balance at Sep. 30, 2021	$ 3,026,049	$ 583	1,643,661	$ (1,623,256)	3,222,064	(217,003)
Treasury stock, common, ending balance (shares) at Sep. 30, 2021				(41,836,000)
Common stock, shares outstanding, beginning balance (shares) at Jun. 30, 2022	146,410,721	188,247,000
Beginning balance at Jun. 30, 2022	$ 3,360,751	$ 586	1,682,432	$ (1,623,256)	3,613,736	(312,747)
Treasury stock, common, beginning balance (shares) at Jun. 30, 2022	(41,836,234)			(41,836,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued on exercise of options (shares)		45,000
Common stock issued on exercise of options	$ 2,610		2,610
Common stock issued on vesting of restricted stock units, net of shares withheld for tax (shares)		3,000
Common stock issued on vesting of restricted stock units, net of shares withheld for tax	(59)		(59)
Stock-based compensation costs	16,919		16,919
Other comprehensive income (loss)	(93,381)					(93,381)
Net income	210,478				210,478
Dividends declared	$ (64,431)				(64,431)
Common stock, shares outstanding, ending balance (shares) at Sep. 30, 2022	146,459,032	188,295,000
Ending balance at Sep. 30, 2022	$ 3,432,887	$ 586	$ 1,701,902	$ (1,623,256)	$ 3,759,783	$ (406,128)
Treasury stock, common, ending balance (shares) at Sep. 30, 2022	(41,836,234)			(41,836,000)

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Changes In Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Statement of Stockholders' Equity [Abstract]
Dividend declared per share (dollars per share)	$ 0.44	$ 0.42

Condensed Consolidated Statem_5

Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 210,478	$ 203,613
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	36,273	39,102
Amortization of right-of-use assets	7,761	8,517
Stock-based compensation costs	16,919	17,303
Loss attributable to equity method investments (note 5)	2,028	1,386
(Gain) loss on equity investments (note 5)	3,280	(5,612)
Changes in operating assets and liabilities:
Accounts receivable	(56,238)	33,704
Inventories	(147,096)	(55,976)
Prepaid expenses, net deferred income taxes and other current assets	(36,784)	(14,391)
Accounts payable, accrued expenses, income taxes payable and other	8,041	(293,303)
Net cash (used in) / provided by operating activities	44,662	(65,657)
Cash flows from investing activities:
Purchases of property, plant and equipment	(29,056)	(27,340)
Patent registration and acquisition costs	(3,317)	(4,453)
Business acquisitions, net of cash acquired	(19,100)	0
Purchases of investments (note 5)	(4,291)	(6,600)
(Payments) / proceeds on maturity of foreign currency contracts	(3,042)	(3,481)
Net cash used in investing activities	(58,806)	(41,874)
Cash flows from financing activities:
Proceeds from issuance of common stock, net	2,610	4,354
Taxes paid related to net share settlement of equity awards	(59)	(195)
Proceeds from borrowings, net of borrowing costs	50,000	150,000
Repayment of borrowings	(30,000)	0
Dividends paid	(64,431)	(61,189)
Net cash (used in) / provided by financing activities	(41,880)	92,970
Effect of exchange rate changes on cash	(10,523)	(4,568)
Net decrease in cash and cash equivalents	(66,547)	(19,129)
Cash and cash equivalents at beginning of period	273,710	295,278
Cash and cash equivalents at end of period	207,163	276,149
Supplemental disclosure of cash flow information:
Income taxes paid, net of refunds	53,437	345,909
Interest paid	7,134	5,360
Fair value of assets acquired, excluding cash	9,506	0
Liabilities assumed	(3,975)	0
Goodwill on acquisition	19,281	0
Deferred payments	(2,856)	0
Fair value of contingent consideration	(2,856)	0
Cash paid for acquisitions	$ 19,100	$ 0

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	Summary of Significant Accounting Policies Organization and Basis of Presentation ResMed Inc. (referred to herein as “we”, “us”, “our” or the “Company”) is a Delaware corporation formed in March 1994 as a holding company for the ResMed Group. Through our subsidiaries, we design, manufacture and market equipment for the diagnosis and treatment of sleep-disordered breathing and other respiratory disorders, including obstructive sleep apnea. Our manufacturing operations are located in Australia, Singapore, Malaysia, France, China and the United States. Major distribution and sales sites are located in the United States, Germany, France, the United Kingdom, Switzerland, Australia, Japan, China, Finland, Norway and Sweden. We also operate a Software as a Service (“SaaS”) business in the United States that includes out-of-hospital software platforms designed to support the professionals and caregivers who help people stay healthy in the home or care setting of their choice. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and the rules of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all necessary adjustments, which consisted only of normal recurring items, have been included in the accompanying financial statements to present fairly the results of the interim periods. The results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2023. The condensed consolidated financial statements for the three months ended September 30, 2022 and September 30, 2021 are unaudited and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K (our “Form 10-K”) for the year ended June 30, 2022. 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 provision of data for patient monitoring. Our SaaS revenue relates to the provision of software access with ongoing support and maintenance services as well as professional services such as training and consulting. Disaggregation of revenue The following table summarizes our net revenue disaggregated by segment, product and region (in thousands): Three Months Ended 2022 2021 U.S., Canada and Latin America Devices $ 339,545 $ 275,932 Masks and other 238,560 215,106 Total Sleep and Respiratory Care $ 578,105 $ 491,038 Software as a Service 105,851 97,516 Total $ 683,956 $ 588,554 Combined Europe, Asia and other markets Devices $ 178,032 $ 218,226 Masks and other 88,306 97,235 Total Sleep and Respiratory Care $ 266,338 $ 315,461 Global revenue Devices $ 517,577 $ 494,158 Masks and other 326,866 312,341 Total Sleep and Respiratory Care $ 844,443 $ 806,499 Software as a Service 105,851 97,516 Total $ 950,294 $ 904,015 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 (in thousands): September 30, June 30, Balance sheet caption Contract assets Accounts receivable, net $ 620,483 $ 575,950 Accounts receivable, net Unbilled revenue, current 23,615 25,692 Prepaid expenses and other current assets Unbilled revenue, non-current 8,106 8,840 Prepaid taxes and other non-current assets Contract liabilities Deferred revenue, current (108,195) (108,667) Deferred revenue (current liabilities) Deferred revenue, non-current (97,620) (95,455) 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 elected two practical expedients including the “right to invoice” practical expedient, which is relevant for some of our SaaS contracts as it allows us to recognize revenue in the amount of the invoice when it corresponds directly with the value of performance completed to date. The second practical expedient adopted permits relief from considering a significant financing component when the payment for the good or service is expected to be one year or less. Lease Revenue We lease Sleep and Respiratory Care medical devices to customers primarily as a means to comply with local health insurer requirements in certain foreign geographies. Device rental contracts include 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. Operating lease revenue was $23.7 million for the three months ended September 30, 2022 and $25.2 million for the three months ended September 30, 2021. 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.

Segment Information

Segment Information	3 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information We have quantitatively and qualitatively determined that we operate in two operating segments, which are the Sleep and Respiratory Care segment and the SaaS segment. We evaluate the performance of our segments based on net revenues and income from operations. The accounting policies of the segments are the same as those described in note 2 of our consolidated financial statements included in our Form 10-K for the year ended June 30, 2022. Segment net revenues and segment income from operations do not include inter-segment profits and revenue is allocated to a geographic area based on where the products are shipped to or where the services are performed. Certain items are maintained at the corporate level and are not allocated to the segments. The non-allocated items include corporate headquarters costs, stock-based compensation, amortization expense from acquired intangibles, 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. Additionally, effective in the first quarter of fiscal year 2023, we updated the extent of allocation and method of attribution of certain shared costs that are principally managed at the corporate level as part of our evaluation of segment operating performance. As a result, certain shared administrative costs, including shared IT, legal and other administrative functions, which were previously included in segment operating results, are now reported in Corporate costs within our reconciliation of segment operating profit to income before income taxes. The financial information presented herein reflects the impact of the preceding reporting change for all periods presented. The table below presents a reconciliation of net revenues and net operating profit by reportable segments (in thousands): Three Months Ended 2022 2021 Net revenue by segment Total Sleep and Respiratory Care $ 844,443 $ 806,499 Software as a Service 105,851 97,516 Total $ 950,294 $ 904,015 Depreciation and amortization by segment Sleep and Respiratory Care $ 19,767 $ 18,017 Software as a Service 1,913 1,701 Amortization of acquired intangible assets and corporate assets 14,593 19,384 Total $ 36,273 $ 39,102 Net operating profit by segment Sleep and Respiratory Care $ 352,560 $ 336,996 Software as a Service 24,441 21,907 Total $ 377,001 $ 358,903 Reconciling items Corporate costs $ 86,938 $ 78,224 Amortization of acquired intangible assets 14,324 18,766 Interest expense (income), net 7,134 5,360 Loss attributable to equity method investments 2,028 1,386 (Gain) loss on equity investments 3,280 (5,612) Other, net 1,504 1,991 Income before income taxes $ 261,793 $ 258,788

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	3 Months Ended
	Sep. 30, 2022
Supplemental Balance Sheet Information [Abstract]
Supplemental Balance Sheet Information	Supplemental Balance Sheet Information Components of selected captions in the condensed consolidated balance sheets consisted of the following (in thousands): Inventories September 30, June 30, Raw materials $ 398,520 $ 355,225 Work in progress 4,491 3,077 Finished goods 461,841 385,608 Total inventories $ 864,852 $ 743,910 Prepaid expenses and other current assets September 30, June 30, Prepaid taxes $ 92,226 $ 99,352 Prepaid inventories 122,839 107,291 Other prepaid expenses and current assets 126,134 131,265 Total prepaid expenses and other current assets $ 341,199 $ 337,908 Property, Plant and Equipment September 30, June 30, Property, plant and equipment, at cost $ 1,107,564 $ 1,131,295 Accumulated depreciation and amortization (620,188) (633,114) Property, plant and equipment, net $ 487,376 $ 498,181 Other Intangible Assets September 30, June 30, Developed/core product technology $ 354,770 $ 350,671 Accumulated amortization (244,255) (239,647) Developed/core product technology, net 110,515 111,024 Customer relationships 258,312 257,034 Accumulated amortization (97,143) (91,731) Customer relationships, net 161,169 165,303 Other intangibles 194,970 204,580 Accumulated amortization (128,503) (134,963) Other intangibles, net 66,467 69,617 Total other intangibles, net $ 338,151 $ 345,944 Intangible assets consist of developed/core product technology, trade names, non-compete agreements, customer relationships, and patents, which we amortize over the estimated useful life of the assets, generally between two years to fifteen years. There are no expected residual values related to these intangible assets.

Goodwill

Goodwill	3 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill A reconciliation of changes in our goodwill by reportable segment is as follows (in thousands): Three Months Ended September 30, 2022 Sleep and SaaS Total Balance at the beginning of the period $ 641,724 $ 1,294,718 $ 1,936,442 Business acquisitions 19,281 — 19,281 Foreign currency translation adjustments (16,880) — (16,880) Balance at the end of the period $ 644,125 $ 1,294,718 $ 1,938,843

Investments

Investments	3 Months Ended
	Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Investments	Investments We have equity investments in privately and publicly held companies that are unconsolidated entities. The following discusses our 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 condensed consolidated balance sheets. Non-marketable equity securities consist of investments in privately held companies without readily determinable fair values and are recorded in prepaid taxes and other non-current assets on the condensed consolidated balance sheets. Non-marketable equity securities are reported at cost, minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer. We 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 condensed consolidated statements of operations. Equity investments whereby we have significant influence, but not control over the investee and are not the primary beneficiary of the investee’s activities, are accounted for under the equity method. Under this method, we record our share of gains or losses attributable to equity method investments as a component of other income (loss), net on the condensed consolidated statements of operations. Equity investments by measurement category were as follows (in thousands): Measurement category September 30, June 30, Fair value $ 5,887 $ 9,167 Measurement alternative 43,581 39,290 Equity method 7,890 9,918 Total $ 57,358 $ 58,375 The following tables show a reconciliation of the changes in our equity investments (in thousands): Three Months Ended September 30, 2022 Non-marketable securities Marketable securities Equity method investments Total Balance at the beginning of the period $ 39,290 $ 9,167 $ 9,918 $ 58,375 Additions to investments 4,291 — — 4,291 Unrealized losses on marketable equity securities — (3,280) — (3,280) Loss attributable to equity method investments — — (2,028) (2,028) Carrying value at the end of the period $ 43,581 $ 5,887 $ 7,890 $ 57,358 Three Months Ended September 30, 2021 Non-marketable securities Marketable securities Equity method investments Total Balance at the beginning of the period $ 23,002 $ 29,084 $ 17,154 $ 69,240 Additions to investments 3,000 3,600 — 6,600 Observable price adjustments on non-marketable equity securities 5,367 — — 5,367 Unrealized gains on marketable equity securities — 454 — 454 Impairment of investments (209) — — (209) Loss attributable to equity method investments — — (1,386) (1,386) Carrying value at the end of the period $ 31,160 $ 33,138 $ 15,768 $ 80,066 Net unrealized losses recognized for equity investments in non-marketable and marketable securities held as of September 30, 2022 for the three months ended September 30, 2022 were $3.3 million. Net unrealized gains recognized for equity investments in non-marketable and marketable securities held as of September 30, 2021 for the three months ended September 30, 2021 were $5.6 million.

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In accordance with ASC 740 Income Taxes , each interim reporting period is considered integral to the annual period, and tax expense is measured using an estimated annual effective tax rate. An entity is required to record income tax expense each quarter based on its annual effective tax rate estimated for the full fiscal year and use that rate to provide for income taxes on a current year-to-date basis, adjusted for discrete taxable events that occur during the interim period. 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. 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.

Product Warranties

Product Warranties	3 Months Ended
	Sep. 30, 2022
Product Warranties Disclosures [Abstract]
Product Warranties	Product Warranties Changes in the liability for warranty costs, which is included in accrued expenses in our condensed consolidated balance sheets, are as follows (in thousands): Three Months Ended 2022 2021 Balance at the beginning of the period $ 25,889 $ 22,032 Warranty accruals for the period 2,088 5,413 Warranty costs incurred for the period (2,612) (3,972) Foreign currency translation adjustments (1,272) (513) Balance at the end of the period $ 24,093 $ 22,960

Debt

Debt	3 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt Debt consisted of the following (in thousands): September 30, June 30, Short-term debt $ 10,000 $ 10,000 Deferred borrowing costs $ (94) $ (84) Short-term debt, net $ 9,906 $ 9,916 Long-term debt $ 790,000 $ 770,000 Deferred borrowing costs (4,564) (4,675) Long-term debt, net $ 785,436 $ 765,325 Total debt $ 795,342 $ 775,241 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 Agreement 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. 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 September 30, 2022, the interest rate that was being charged on the outstanding principal amounts was 3.5%. 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 September 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 September 30, 2022 and June 30, 2022, which was $300.0 million and $280.0 million, respectively. Quoted market prices in active markets for similar 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% 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 September 30, 2022 and June 30, 2022, the Senior Notes had a carrying amount of $500.0 million, excluding deferred borrowing costs, and an estimated fair value of $455.7 million and $477.7 million, respectively. Quoted market prices in active markets for similar liabilities based inputs (Level 2) were used to estimate fair value.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share is computed by dividing the net income available to common stockholders by the weighted average number of shares of common stock outstanding. For purposes of calculating diluted earnings per share, the denominator includes both the weighted average number of shares of common stock outstanding and the number of dilutive common stock equivalents such as stock options and restricted stock units. The weighted average number of outstanding stock options and restricted stock units not included in the computation of diluted earnings per share were 113,167 and 1,322 for the three months ended September 30, 2022 and 2021, respectively, as the effect would have been anti-dilutive. Basic and diluted earnings per share are calculated as follows (in thousands except per share data): Three Months Ended 2022 2021 Numerator: Net income $ 210,478 $ 203,613 Denominator: Basic weighted-average common shares outstanding 146,431 145,680 Effect of dilutive securities: Stock options and restricted stock units 703 1,180 Diluted weighted average shares 147,134 146,860 Basic earnings per share $ 1.44 $ 1.40 Diluted earnings per share $ 1.43 $ 1.39

Legal Actions, Contingencies an

Legal Actions, Contingencies and Commitments	3 Months Ended
	Sep. 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 ("NYU") filed a complaint for patent infringement in the United States District Court, District of Delaware against ResMed Inc., case no. 1:21-cv-00813 (JPM). 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. We 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. We have also requested that the court dismiss the case based on NYU’s license of the patents to Fisher & Paykel and Fisher & Paykel’s prior settlement with us. The matter is proceeding to discovery while the court considers our request. We have also filed petitions for inter partes review with the Patent Trial and Appeal Board (“PTAB”) of the United States Patent and Trademark Office seeking to invalidate the asserted claims of the patents-in-suit. A determination by the PTAB whether to institute the petitions is expected by early December 2022. If the petitions are instituted by the PTAB, a final written decision determining the invalidity of the challenged claims is expected by December 2023. On January 27, 2021, the International Trade Commission ("ITC") 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 ITC. 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 did not appeal the ITC’s decision. 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. Philips has not yet moved to lift the stay following the termination of the ITC Investigation. We are not a party to the ITC investigation or the district court cases, but we sell products that incorporate some of the communications modules at issue in the cases. On June 16, 2022, Cleveland Medical Devices Inc. ("Cleveland Medical") 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 certain ResMed data platforms and/or software, including AirView and ResScan, 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. We have moved to dismiss the action because Cleveland Medical sued the wrong ResMed entity. We have also moved to dismiss all claims based on U.S. Patent No. 10,076,269, as well as indirect and willful infringement allegations as to the remaining patents asserted against ResMed. 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 three months ended September 30, 2022 and September 30, 2021, receivables sold with limited recourse were $39.9 million and $49.5 million, respectively. As of September 30, 2022, the maximum exposure on outstanding receivables sold with recourse and contingent provision were $22.4 million and $1.2 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. Commitments

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation ResMed Inc. (referred to herein as “we”, “us”, “our” or the “Company”) is a Delaware corporation formed in March 1994 as a holding company for the ResMed Group. Through our subsidiaries, we design, manufacture and market equipment for the diagnosis and treatment of sleep-disordered breathing and other respiratory disorders, including obstructive sleep apnea. Our manufacturing operations are located in Australia, Singapore, Malaysia, France, China and the United States. Major distribution and sales sites are located in the United States, Germany, France, the United Kingdom, Switzerland, Australia, Japan, China, Finland, Norway and Sweden. We also operate a Software as a Service (“SaaS”) business in the United States that includes out-of-hospital software platforms designed to support the professionals and caregivers who help people stay healthy in the home or care setting of their choice. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and the rules of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all necessary adjustments, which consisted only of normal recurring items, have been included in the accompanying financial statements to present fairly the results of the interim periods. The results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2023. The condensed consolidated financial statements for the three months ended September 30, 2022 and September 30, 2021 are unaudited and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K (our “Form 10-K”) for the year ended June 30, 2022.
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 provision of data for patient monitoring. Our SaaS revenue relates to the provision of software access with ongoing support and maintenance services as well as professional services such as training and consulting. Disaggregation of revenue The following table summarizes our net revenue disaggregated by segment, product and region (in thousands): Three Months Ended 2022 2021 U.S., Canada and Latin America Devices $ 339,545 $ 275,932 Masks and other 238,560 215,106 Total Sleep and Respiratory Care $ 578,105 $ 491,038 Software as a Service 105,851 97,516 Total $ 683,956 $ 588,554 Combined Europe, Asia and other markets Devices $ 178,032 $ 218,226 Masks and other 88,306 97,235 Total Sleep and Respiratory Care $ 266,338 $ 315,461 Global revenue Devices $ 517,577 $ 494,158 Masks and other 326,866 312,341 Total Sleep and Respiratory Care $ 844,443 $ 806,499 Software as a Service 105,851 97,516 Total $ 950,294 $ 904,015 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 (in thousands): September 30, June 30, Balance sheet caption Contract assets Accounts receivable, net $ 620,483 $ 575,950 Accounts receivable, net Unbilled revenue, current 23,615 25,692 Prepaid expenses and other current assets Unbilled revenue, non-current 8,106 8,840 Prepaid taxes and other non-current assets Contract liabilities Deferred revenue, current (108,195) (108,667) Deferred revenue (current liabilities) Deferred revenue, non-current (97,620) (95,455) 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 elected two practical expedients including the “right to invoice” practical expedient, which is relevant for some of our SaaS contracts as it allows us to recognize revenue in the amount of the invoice when it corresponds directly with the value of performance completed to date. The second practical expedient adopted permits relief from considering a significant financing component when the payment for the good or service is expected to be one year or less.
Lease Revenue	Lease RevenueWe lease Sleep and Respiratory Care medical devices to customers primarily as a means to comply with local health insurer requirements in certain foreign geographies. Device rental contracts include 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.
Provision For Warranty	Provision for Warranty We provide for the estimated cost of product warranties on our Sleep and Respiratory Care products at the time the related revenue is recognized. We determine the amount of this provision by using a financial model, which takes into consideration actual historical expenses and potential risks associated with our different products. We use this financial model to calculate the future probable expenses related to warranty and the required level of the warranty provision. Although we engage in product improvement programs and processes, our warranty obligation is affected by product failure rates and costs incurred to correct those product failures. Should actual product failure rates or estimated costs to repair those product failures differ from our estimates, we would be required to revise our estimated warranty provision.

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Tables)	3 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary Of Net Revenue Disaggregated By Product And Region	The following table summarizes our net revenue disaggregated by segment, product and region (in thousands): Three Months Ended 2022 2021 U.S., Canada and Latin America Devices $ 339,545 $ 275,932 Masks and other 238,560 215,106 Total Sleep and Respiratory Care $ 578,105 $ 491,038 Software as a Service 105,851 97,516 Total $ 683,956 $ 588,554 Combined Europe, Asia and other markets Devices $ 178,032 $ 218,226 Masks and other 88,306 97,235 Total Sleep and Respiratory Care $ 266,338 $ 315,461 Global revenue Devices $ 517,577 $ 494,158 Masks and other 326,866 312,341 Total Sleep and Respiratory Care $ 844,443 $ 806,499 Software as a Service 105,851 97,516 Total $ 950,294 $ 904,015
Summary Of Contract Balances	The following table summarizes our contract balances (in thousands): September 30, June 30, Balance sheet caption Contract assets Accounts receivable, net $ 620,483 $ 575,950 Accounts receivable, net Unbilled revenue, current 23,615 25,692 Prepaid expenses and other current assets Unbilled revenue, non-current 8,106 8,840 Prepaid taxes and other non-current assets Contract liabilities Deferred revenue, current (108,195) (108,667) Deferred revenue (current liabilities) Deferred revenue, non-current (97,620) (95,455) Deferred revenue (non-current liabilities)

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Summary of Revenue By Segment and Reconciling Items	The table below presents a reconciliation of net revenues and net operating profit by reportable segments (in thousands): Three Months Ended 2022 2021 Net revenue by segment Total Sleep and Respiratory Care $ 844,443 $ 806,499 Software as a Service 105,851 97,516 Total $ 950,294 $ 904,015 Depreciation and amortization by segment Sleep and Respiratory Care $ 19,767 $ 18,017 Software as a Service 1,913 1,701 Amortization of acquired intangible assets and corporate assets 14,593 19,384 Total $ 36,273 $ 39,102 Net operating profit by segment Sleep and Respiratory Care $ 352,560 $ 336,996 Software as a Service 24,441 21,907 Total $ 377,001 $ 358,903 Reconciling items Corporate costs $ 86,938 $ 78,224 Amortization of acquired intangible assets 14,324 18,766 Interest expense (income), net 7,134 5,360 Loss attributable to equity method investments 2,028 1,386 (Gain) loss on equity investments 3,280 (5,612) Other, net 1,504 1,991 Income before income taxes $ 261,793 $ 258,788

Supplemental Balance Sheet In_2

Supplemental Balance Sheet Information (Tables)	3 Months Ended
	Sep. 30, 2022
Supplemental Balance Sheet Information [Abstract]
Schedule Of Inventories	Components of selected captions in the condensed consolidated balance sheets consisted of the following (in thousands): Inventories September 30, June 30, Raw materials $ 398,520 $ 355,225 Work in progress 4,491 3,077 Finished goods 461,841 385,608 Total inventories $ 864,852 $ 743,910
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets September 30, June 30, Prepaid taxes $ 92,226 $ 99,352 Prepaid inventories 122,839 107,291 Other prepaid expenses and current assets 126,134 131,265 Total prepaid expenses and other current assets $ 341,199 $ 337,908
Components Of Property, Plant And Equipment	Property, Plant and Equipment September 30, June 30, Property, plant and equipment, at cost $ 1,107,564 $ 1,131,295 Accumulated depreciation and amortization (620,188) (633,114) Property, plant and equipment, net $ 487,376 $ 498,181
Schedule Of Other Intangible Assets, Net	Other Intangible Assets September 30, June 30, Developed/core product technology $ 354,770 $ 350,671 Accumulated amortization (244,255) (239,647) Developed/core product technology, net 110,515 111,024 Customer relationships 258,312 257,034 Accumulated amortization (97,143) (91,731) Customer relationships, net 161,169 165,303 Other intangibles 194,970 204,580 Accumulated amortization (128,503) (134,963) Other intangibles, net 66,467 69,617 Total other intangibles, net $ 338,151 $ 345,944

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Changes In Carrying Amount Of Goodwill	A reconciliation of changes in our goodwill by reportable segment is as follows (in thousands): Three Months Ended September 30, 2022 Sleep and SaaS Total Balance at the beginning of the period $ 641,724 $ 1,294,718 $ 1,936,442 Business acquisitions 19,281 — 19,281 Foreign currency translation adjustments (16,880) — (16,880) Balance at the end of the period $ 644,125 $ 1,294,718 $ 1,938,843

Investments (Tables)

Investments (Tables)	3 Months Ended
	Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule Of Investments	Equity investments by measurement category were as follows (in thousands): Measurement category September 30, June 30, Fair value $ 5,887 $ 9,167 Measurement alternative 43,581 39,290 Equity method 7,890 9,918 Total $ 57,358 $ 58,375
Schedule Of Changes In Equity Investments	The following tables show a reconciliation of the changes in our equity investments (in thousands): Three Months Ended September 30, 2022 Non-marketable securities Marketable securities Equity method investments Total Balance at the beginning of the period $ 39,290 $ 9,167 $ 9,918 $ 58,375 Additions to investments 4,291 — — 4,291 Unrealized losses on marketable equity securities — (3,280) — (3,280) Loss attributable to equity method investments — — (2,028) (2,028) Carrying value at the end of the period $ 43,581 $ 5,887 $ 7,890 $ 57,358 Three Months Ended September 30, 2021 Non-marketable securities Marketable securities Equity method investments Total Balance at the beginning of the period $ 23,002 $ 29,084 $ 17,154 $ 69,240 Additions to investments 3,000 3,600 — 6,600 Observable price adjustments on non-marketable equity securities 5,367 — — 5,367 Unrealized gains on marketable equity securities — 454 — 454 Impairment of investments (209) — — (209) Loss attributable to equity method investments — — (1,386) (1,386) Carrying value at the end of the period $ 31,160 $ 33,138 $ 15,768 $ 80,066

Product Warranties (Tables)

Product Warranties (Tables)	3 Months Ended
	Sep. 30, 2022
Product Warranties Disclosures [Abstract]
Schedule Of Changes In Liability For Warranty Costs	Changes in the liability for warranty costs, which is included in accrued expenses in our condensed consolidated balance sheets, are as follows (in thousands): Three Months Ended 2022 2021 Balance at the beginning of the period $ 25,889 $ 22,032 Warranty accruals for the period 2,088 5,413 Warranty costs incurred for the period (2,612) (3,972) Foreign currency translation adjustments (1,272) (513) Balance at the end of the period $ 24,093 $ 22,960

Debt (Tables)

Debt (Tables)	3 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Debt consisted of the following (in thousands): September 30, June 30, Short-term debt $ 10,000 $ 10,000 Deferred borrowing costs $ (94) $ (84) Short-term debt, net $ 9,906 $ 9,916 Long-term debt $ 790,000 $ 770,000 Deferred borrowing costs (4,564) (4,675) Long-term debt, net $ 785,436 $ 765,325 Total debt $ 795,342 $ 775,241

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule Of Basic And Diluted Earnings Per Share	Basic and diluted earnings per share are calculated as follows (in thousands except per share data): Three Months Ended 2022 2021 Numerator: Net income $ 210,478 $ 203,613 Denominator: Basic weighted-average common shares outstanding 146,431 145,680 Effect of dilutive securities: Stock options and restricted stock units 703 1,180 Diluted weighted average shares 147,134 146,860 Basic earnings per share $ 1.44 $ 1.40 Diluted earnings per share $ 1.43 $ 1.39

Summary Of Significant Accoun_4

Summary Of Significant Accounting Policies (Narrative) (Details) $ in Millions	3 Months Ended
	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of operating segments | segment	2
Operating lease revenue | $	$ 23.7	$ 25.2
Minimum
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue recognized, term	1 year
Maximum
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue recognized, term	5 years

Summary Of Significant Accoun_5

Summary Of Significant Accounting Policies (Summary Of Net Revenue Disaggregated By Product And Region) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Net revenue by segment	$ 950,294	$ 904,015
Total Sleep and Respiratory Care
Disaggregation of Revenue [Line Items]
Net revenue by segment	844,443	806,499
Software as a Service
Disaggregation of Revenue [Line Items]
Net revenue by segment	105,851	97,516
U.S., Canada and Latin America
Disaggregation of Revenue [Line Items]
Net revenue by segment	683,956	588,554
U.S., Canada and Latin America | Devices
Disaggregation of Revenue [Line Items]
Net revenue by segment	339,545	275,932
U.S., Canada and Latin America | Masks and other
Disaggregation of Revenue [Line Items]
Net revenue by segment	238,560	215,106
U.S., Canada and Latin America | Total Sleep and Respiratory Care
Disaggregation of Revenue [Line Items]
Net revenue by segment	578,105	491,038
U.S., Canada and Latin America | Software as a Service
Disaggregation of Revenue [Line Items]
Net revenue by segment	105,851	97,516
Combined Europe, Asia and other markets | Devices
Disaggregation of Revenue [Line Items]
Net revenue by segment	178,032	218,226
Combined Europe, Asia and other markets | Masks and other
Disaggregation of Revenue [Line Items]
Net revenue by segment	88,306	97,235
Combined Europe, Asia and other markets | Total Sleep and Respiratory Care
Disaggregation of Revenue [Line Items]
Net revenue by segment	266,338	315,461
Global revenue
Disaggregation of Revenue [Line Items]
Net revenue by segment	950,294	904,015
Global revenue | Devices
Disaggregation of Revenue [Line Items]
Net revenue by segment	517,577	494,158
Global revenue | Masks and other
Disaggregation of Revenue [Line Items]
Net revenue by segment	326,866	312,341
Global revenue | Total Sleep and Respiratory Care
Disaggregation of Revenue [Line Items]
Net revenue by segment	844,443	806,499
Global revenue | Software as a Service
Disaggregation of Revenue [Line Items]
Net revenue by segment	$ 105,851	$ 97,516

Summary Of Significant Accoun_6

Summary Of Significant Accounting Policies (Summary Of Contract Balances) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Contract assets
Accounts receivable, net	$ 620,483	$ 575,950
Contract liabilities
Deferred revenue, current	(108,195)	(108,667)
Deferred revenue, non-current	(97,620)	(95,455)
Accounts receivable, net
Contract assets
Accounts receivable, net	620,483	575,950
Prepaid expenses and other current assets
Contract assets
Unbilled revenue, current	23,615	25,692
Prepaid taxes and other non-current assets
Contract assets
Unbilled revenue, non-current	8,106	8,840
Deferred revenue (current liabilities)
Contract liabilities
Deferred revenue, current	(108,195)	(108,667)
Deferred revenue (non-current liabilities)
Contract liabilities
Deferred revenue, non-current	$ (97,620)	$ (95,455)

Segment Information (Narrative)

Segment Information (Narrative) (Details)	3 Months Ended
	Sep. 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	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net revenue by segment	$ 950,294	$ 904,015
Depreciation and amortization by segment	36,273	39,102
Net operating profit by segment	275,739	261,913
Amortization of acquired intangible assets	7,950	7,707
Loss attributable to equity method investments	2,028	1,386
(Gain) loss on equity investments	3,280	(5,612)
Other, net	(1,504)	(1,991)
Income before income taxes	261,793	258,788
Operating Segments
Segment Reporting Information [Line Items]
Net operating profit by segment	377,001	358,903
Corporate Costs
Segment Reporting Information [Line Items]
Depreciation and amortization by segment	14,593	19,384
Reconciling items
Segment Reporting Information [Line Items]
Corporate costs	86,938	78,224
Amortization of acquired intangible assets	14,324	18,766
Interest expense (income), net	7,134	5,360
Loss attributable to equity method investments	2,028	1,386
(Gain) loss on equity investments	3,280	(5,612)
Other, net	1,504	1,991
Income before income taxes	261,793	258,788
Total Sleep and Respiratory Care
Segment Reporting Information [Line Items]
Net revenue by segment	844,443	806,499
Total Sleep and Respiratory Care | Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization by segment	19,767	18,017
Net operating profit by segment	352,560	336,996
Software as a Service
Segment Reporting Information [Line Items]
Net revenue by segment	105,851	97,516
Software as a Service | Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization by segment	1,913	1,701
Net operating profit by segment	$ 24,441	$ 21,907

Supplemental Balance Sheet In_3

Supplemental Balance Sheet Information (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Supplemental Balance Sheet Information [Abstract]
Raw materials	$ 398,520	$ 355,225
Work in progress	4,491	3,077
Finished goods	461,841	385,608
Total inventories	$ 864,852	$ 743,910

Supplemental Balance Sheet In_4

Supplemental Balance Sheet Information (Schedule Of Prepaid Expenses and Other Current Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Prepaid expenses and other current assets
Prepaid taxes	$ 92,226	$ 99,352
Prepaid inventories	122,839	107,291
Other prepaid expenses and current assets	126,134	131,265
Total prepaid expenses and other current assets	$ 341,199	$ 337,908

Supplemental Balance Sheet In_5

Supplemental Balance Sheet Information (Components Of Property, Plant And Equipment) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Supplemental Balance Sheet Information [Abstract]
Property, plant and equipment, at cost	$ 1,107,564	$ 1,131,295
Accumulated depreciation and amortization	(620,188)	(633,114)
Property, plant and equipment, net	$ 487,376	$ 498,181

Supplemental Balance Sheet In_6

Supplemental Balance Sheet Information (Schedule Of Other Intangible Assets, Net) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Total other intangibles, net	$ 338,151	$ 345,944
Developed/core product technology
Finite-Lived Intangible Assets [Line Items]
Other intangibles, gross	354,770	350,671
Accumulated amortization	(244,255)	(239,647)
Total other intangibles, net	110,515	111,024
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Other intangibles, gross	258,312	257,034
Accumulated amortization	(97,143)	(91,731)
Total other intangibles, net	161,169	165,303
Other intangibles
Finite-Lived Intangible Assets [Line Items]
Other intangibles, gross	194,970	204,580
Accumulated amortization	(128,503)	(134,963)
Total other intangibles, net	$ 66,467	$ 69,617
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 (Schedule Of Changes I

Goodwill (Schedule Of Changes In Carrying Amount Of Goodwill) (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill [Roll Forward]
Balance at the beginning of the period	$ 1,936,442
Business acquisitions	19,281
Foreign currency translation adjustments	(16,880)
Balance at the end of the period	1,938,843
Total Sleep and Respiratory Care
Goodwill [Roll Forward]
Balance at the beginning of the period	641,724
Business acquisitions	19,281
Foreign currency translation adjustments	(16,880)
Balance at the end of the period	644,125
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

Investments (Schedule Of Invest

Investments (Schedule Of Investments) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Fair value	$ 5,887	$ 9,167
Measurement alternative	43,581	39,290
Equity method	7,890	9,918
Total	$ 57,358	$ 58,375

Investments (Schedule Of Change

Investments (Schedule Of Changes In Equity Investments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Debt and Equity Investments [Roll Forward]
Balance at the beginning of the period	$ 58,375	$ 69,240
Additions to investments	4,291	6,600
Observable price adjustments on non-marketable equity securities		5,367
Unrealized gains (losses) on marketable equity securities	(3,280)	454
Impairment of investments		(209)
Loss attributable to equity method investments	(2,028)	(1,386)
Carrying value at the end of the period	57,358	80,066
Non-marketable securities
Debt and Equity Investments [Roll Forward]
Balance at the beginning of the period	39,290	23,002
Additions to investments	4,291	3,000
Observable price adjustments on non-marketable equity securities		5,367
Impairment of investments		(209)
Carrying value at the end of the period	43,581	31,160
Marketable securities
Debt and Equity Investments [Roll Forward]
Balance at the beginning of the period	9,167	29,084
Additions to investments		3,600
Unrealized gains (losses) on marketable equity securities	(3,280)	454
Carrying value at the end of the period	5,887	33,138
Equity method investments
Debt and Equity Investments [Roll Forward]
Balance at the beginning of the period	9,918	17,154
Loss attributable to equity method investments	(2,028)	(1,386)
Carrying value at the end of the period	$ 7,890	$ 15,768

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Equity securities, net unrealized gain (loss)	$ (3.3)	$ 5.6

Income Taxes (Details)

Income Taxes (Details) - Domestic Tax Authority - Australian Taxation Office $ in Millions	Sep. 28, 2021 USD ($)
Operating Loss Carryforwards [Line Items]
Tax settlement, remitted final payment	$ 284.8
Tax settlement, gross amount	381.7
Tax settlement, prior remittances	$ 96.9

Product Warranties (Schedule Of

Product Warranties (Schedule Of Changes In Liability For Warranty Costs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at the beginning of the period	$ 25,889	$ 22,032
Warranty accruals for the period	2,088	5,413
Warranty costs incurred for the period	(2,612)	(3,972)
Foreign currency translation adjustments	(1,272)	(513)
Balance at the end of the period	$ 24,093	$ 22,960

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022
Debt Disclosure [Abstract]
Short-term debt	$ 10,000	$ 10,000
Deferred borrowing costs	(94)	(84)
Short-term debt, net	9,906	9,916
Long-term debt	790,000	770,000
Deferred borrowing costs	(4,564)	(4,675)
Long-term debt, net	785,436	765,325
Total debt	$ 795,342	$ 775,241

Debt (Narrative) (Details)

Debt (Narrative) (Details)		3 Months Ended
	Jun. 29, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Jul. 10, 2019 USD ($)
Debt Instrument [Line Items]
Debt to consolidated EBITDA ratio		3.50
Line of credit facility collateral, maximum percentage of ownership interests held in subsidiary		10%
Senior notes, carrying amount		$ 500,000,000	$ 500,000,000
Outstanding debt		795,342,000	775,241,000
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		455,700,000	477,700,000
Revolving Credit Agreement, Term Credit Agreement, And Senior Notes
Debt Instrument [Line Items]
Outstanding debt		800,000,000
Revolving Credit Facility And Term Credit Agreement
Debt Instrument [Line Items]
Long-term debt, fair value		$ 300,000,000	$ 280,000,000
Revolving Credit Facility And Term Credit Agreement | Mufg Union Bank Na And Westpac Banking Corporation
Debt Instrument [Line Items]
Interest rate on outstanding principal amount		3.50%
Revolving Credit Facility
Debt Instrument [Line Items]
Available for draw		$ 1,400,000,000
Revolving Credit Facility | Mufg Union Bank Na And Westpac Banking Corporation
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,500,000,000
Uncommitted option to increase credit facility	$ 1,000,000,000
EBITDA multiple of trailing twelve-month measurement period	1
Revolving Credit Facility | Mufg Union Bank Na And Westpac Banking Corporation | Minimum
Debt Instrument [Line Items]
Commitment fees percentage rate on unused portion of credit facility		0.075%
Revolving Credit Facility | Mufg Union Bank Na And Westpac Banking Corporation | Maximum
Debt Instrument [Line Items]
Commitment fees percentage rate on unused portion of credit facility		0.15%
Term Loan Credit Agreement
Debt Instrument [Line Items]
Principal payment	$ 5,000,000
Term Loan Credit Agreement | Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Credit facility interest rate equal to reference rate plus	0.75%
Term Loan Credit Agreement | Minimum | Base Rate
Debt Instrument [Line Items]
Credit facility interest rate equal to reference rate plus	0%
Term Loan Credit Agreement | Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Credit facility interest rate equal to reference rate plus	1.50%
Term Loan Credit Agreement | Maximum | Base Rate
Debt Instrument [Line Items]
Credit facility interest rate equal to reference rate plus	0.50%
ResMed Limited | Revolving Credit Facility | Mufg Union Bank
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 200,000,000

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount	113,167	1,322

Earnings Per Share (Schedule Of

Earnings Per Share (Schedule Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net income	$ 210,478	$ 203,613
Denominator:
Basic weighted-average common shares outstanding (shares)	146,431	145,680
Effect of dilutive securities:
Stock options and restricted stock units (shares)	703	1,180
Diluted weighted average shares (shares)	147,134	146,860
Basic earnings per share (dollars per share)	$ 1.44	$ 1.40
Diluted earnings per share (dollars per share)	$ 1.43	$ 1.39

Legal Actions, Contingencies _2

Legal Actions, Contingencies and Commitments (Narrative) (Details) € in Millions, $ in Millions	3 Months Ended		12 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 EUR (€)
Commitments and Contingencies Disclosure [Abstract]
Receivables sold with limited recourse	$ 39.9	$ 49.5
Maximum potential contingent liability	22.4		$ 24.2
Contingent provision	$ 1.2		$ 2.1
Contractual obligation | €				€ 950