v3.26.1
FAIR VALUE OF FINANCIAL INSTRUMENTS
 12 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS FAIR VALUE OF FINANCIAL INSTRUMENTS
Accounting guidance on fair value measurements for certain financial assets and liabilities requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:
Level 1  Quoted market prices in active markets for identical assets and liabilities.
Level 2  Observable market-based inputs other than quoted prices in active markets for identical assets and liabilities.
Level 3  
Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.
In valuing assets and liabilities, the Company is required to maximize the use of quoted market prices and minimize the use of unobservable inputs. The Company calculates the fair value of its Level 1 and Level 2 instruments, as applicable, based on the exchange-traded price of similar or identical instruments where available or based on other observable instruments. These calculations take into consideration the credit risk of both the Company and its counterparties. Unless otherwise noted below, the Company has not changed its valuation techniques in measuring the fair value of any financial assets and liabilities during the period.
The fair values of contingent consideration obligations are based on a probability weighted approach derived from the estimates of earn-out criteria and the probability assessment with respect to the likelihood of achieving those criteria. The measurement is based on significant inputs that are not observable in the market, therefore, the Company classifies this liability as Level 3 in the table below.
The determination of the fair value of the Company’s digital assets is discussed below.
The following tables set forth the Company’s financial assets and liabilities at June 30, 2026 and 2025, respectively, that are recorded at fair value, segregated by level within the fair value hierarchy:
Level 1Level 2Level 3Total
(in millions)
Assets:
Cash and cash equivalents:
Money market funds$7.7 $— $— $7.7 
Other current assets:
Securities$0.9 $— $— $0.9 
Other non-current assets:
Securities (a)232.5 — — 232.5 
       Derivative asset— 0.1 — 0.1 
       Pre-funded warrants— 31.6 — 31.6 
       Digital assets216.1 — — 216.1 
Total assets as of June 30, 2026
$457.2 $31.6 $— $488.8 
Liabilities:
Derivative liability$— $2.9 $— $2.9 
Contingent consideration obligations— — 59.9 59.9 
Total liabilities as of June 30, 2026
$— $2.9 $59.9 $62.7 
Level 1Level 2Level 3Total
(in millions)
Assets:
Other current assets:
Securities$0.7 $— $— $0.7 
Other non-current assets:
Securities (a)195.2 — — 195.2 
Total assets as of June 30, 2025
$195.9 $— $— $195.9 
Liabilities:
Derivative liability$— $24.6 $— $24.6 
Contingent consideration obligations— — 14.0 14.0 
Total liabilities as of June 30, 2025
$— $24.6 $14.0 $38.6 
________
(a)Includes investments related to the Company’s Defined Benefit Pension Plans, Executive Retirement and Savings Plan (the “ERSP”) and shares of CNTN stock.
In addition, the Company has non-marketable securities with a carrying amount of $108.4 million as of June 30, 2026 and $60.5 million as of June 30, 2025, respectively, that to the extent they have been remeasured during the period are classified as Level 2 financial assets and included as part of Other non-current assets on the Consolidated Balance Sheets.
Digital Assets
Beginning in the fourth quarter of fiscal year 2024, the Company began to earn Canton Coins for its function as a Super Validator and Validator on the Global Synchronizer, the Canton Network’s decentralized interoperability infrastructure. Prior to the first quarter of fiscal year 2026, the Company held the Canton Coins on its Balance Sheet for investment purposes and to pay any fees associated with its Canton Network activity. During the first quarter of fiscal year 2026, the Company began converting the coins to cash nearly immediately after they were earned and continued to do so periodically throughout the second fiscal quarter of 2026. Refer to Note 2, “Summary of Significant Accounting Policies” for details regarding the Canton Network and the Company’s Canton Coin holdings.
The following table presents the Company’s Canton Coin holdings as of June 30, 2026:
June 30, 2026
Quantity of CoinsCost BasisFair Value
($ in millions)
Canton Coins (a)
1.5  billion$13.3 $216.1 
(a) As of June 30, 2026, the Company was restricted from transferring a total of 1.3 billion Canton Coins valued at $189.9 million as a result of its election under the Canton Coin lockup framework described in Note 2, “Summary of Significant Accounting Policies”.
Prior to the second fiscal quarter of 2026, Canton Coins were classified as Level 3 within the fair value hierarchy because the valuation required assumptions that were both significant and unobservable. During the quarter ended December 31, 2025, the Company’s digital asset holdings were transferred from Level 3 to Level 1 as Canton Coins were listed on several public exchanges, and therefore quoted market prices in active markets were available. As of June 30, 2026, the Company’s Canton Coin holdings were measured at fair value based on quoted market prices from the Company’s principal market.
Canton Digital Asset Treasury
During the second quarter of fiscal year 2026, Broadridge contributed 342 million of its Canton Coins with a total fair value of $53.1 million at the time of the transaction for 17.3 million pre-funded common stock purchase warrants (the “Warrants”) representing an interest in Canton Strategic Holdings, Inc. (“CNTN”), formerly Tharimmune, Inc., in conjunction with a private placement in public equity offering. Upon exercise, the Warrants entitle the Company to receive an equal number of shares of common stock of CNTN (together, the “Canton Digital Asset Treasury”). The Warrants are not able to be sold or transferred by the Company. Upon closing of the offering, CNTN began to execute a digital asset treasury strategy that includes the acquisition of Canton Coins via capital markets activities, generation of Canton Coins by applying to be a Super Validator, and investing in the development of applications on the Canton Network that drive institutional utility, scalability and adoption across capital markets.
The Warrants received as part of the Canton Digital Asset Treasury, as well as the shares of CNTN stock obtained by the Company as a result of exercise of the Warrants are recognized on the Consolidated Balance Sheet as part of Other non-current assets. During the fourth quarter of fiscal year 2026, the Company exercised 6.1 million of the Warrants into an equivalent number of shares of CNTN common stock. The publicly traded shares of CNTN common stock are classified as Level 1 of the fair value hierarchy, while the Warrants are classified as Level 2 as they are remeasured to fair value at the end of each reporting period based on the quoted public share price of CNTN shares. For the fiscal year 2026, the Company recognized a $48.7 million gain within Other non-operating income related to the Canton Digital Asset Treasury transaction, including the realized gain upon contribution of the Canton Coins in exchange for CNTN warrants of $53.1 million.
The following table presents a summary of the changes in the Company’s Canton Coin holdings during the years ended June 30, 2026:
June 30,
2026
(in millions)
Beginning balance$— 
Opening Retained Earnings Adjustment24.5 
Additions - Revenue16.5 
Dispositions(8.5)
Canton Digital Asset Treasury transaction(53.1)
Total realized and unrealized gains included in other income (loss), net (a)236.7 
Ending balance$216.1 
(a) Includes realized gains totaling $58.4 million and unrealized gains totaling $178.4 million during the year ended June 30, 2026. There were no realized or unrealized gains or losses during the years ended June 30, 2025.
Level 3 Financial Assets and Liabilities
The following tables set forth an analysis of changes during fiscal years 2026 in Level 3 financial assets and liabilities of the Company. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments between levels. The Company’s policy is to record transfers between levels, if any, as of the beginning of the fiscal year.
Digital Assets
June 30,
2026
(in millions)
Beginning balance$— 
Opening Retained Earnings Adjustment24.5 
Beginning-of-period Level 3 transfer-out value(24.5)
Ending balance$— 

Contingent consideration obligations
June 30,
20262025
(in millions)
Beginning balance$14.0 $14.0 
Additional contingent consideration incurred53.5 — 
Net increase in contingent consideration liability1.4 — 
Foreign currency impact on contingent consideration liability(0.3)— 
Payments(8.7)— 
Ending balance$59.9 $14.0 
The Company did not incur any Level 3 fair value asset impairments during fiscal year 2026 or fiscal year 2025.