Sales of Receivables (Tables)

9 Months Ended

Mar. 31, 2025

Transfers and Servicing of Financial Assets [Abstract]

MARPA activity consisted of the following (in thousands):


	As of and for the Nine Months Ended March 31,
	2025		2024
Beginning balance:	$	250,000	$	200,000
Sales of receivables	2,814,912		2,423,064
Cash collections	(2,764,912)		(2,373,064)
Outstanding balance sold to Purchaser(1):	300,000		250,000
Cash collected, not remitted to Purchaser(2)	(79,150)		(85,120)
Remaining sold receivables	$	220,850	$	164,880

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(1)For the nine months ended March 31, 2025 and 2024, the Company recorded a net cash inflow of $50.0 million and a net cash inflow of $50.0 million in its cash flows from operating activities, respectively, from sold receivables. MARPA cash flows are calculated as the change in the outstanding balance during the fiscal year.

(2)Includes the cash collected on behalf of but not yet remitted to Purchaser as of March 31, 2025 and 2024. This balance is included in other accrued expenses and current liabilities as of the balance sheet date.