v3.26.1
Revolving and Other Lines of Credit and Notes Payable
12 Months Ended
Jun. 30, 2026
Notes Payable and Lines of Credit [Abstract]  
REVOLVING AND OTHER LINES OF CREDIT AND NOTES PAYABLE
NOTE 12REVOLVING AND OTHER LINES OF CREDIT AND NOTES PAYABLE
During fiscal 2026, we entered into the Seventh Amended and Restated Credit Agreement dated as of November 17, 2025 (the Credit Agreement). The Credit Agreement is a five-year, multi-currency, revolving credit facility, which we use to augment cash from operations and as an additional source of funds. The Credit Agreement allows for borrowings in U.S. dollars, Canadian dollars, euros, pounds sterling and Japanese yen. Interest payable under the Credit Agreement is based upon the type of borrowing under the facility and may be (1) Euro Interbank Offered Rate (EURIBOR), Sterling Overnight Index Average (SONIA), Canadian Overnight Repo Rate Average (CORRA), Tokyo Interbank Offered Rate (TIBOR) and Secured Overnight Financing Rate (SOFR) for any borrowings in euros, pounds sterling, Canadian dollars, yen and U.S. dollars, respectively, plus an applicable margin, (2) the greater of the prime rate or the Federal Funds effective rate plus an applicable margin, or (3) fixed as negotiated by us. The Credit Agreement matures in November 2030.
The Credit Agreement requires us to comply with various restrictive and affirmative covenants, including one financial covenant: a maximum leverage ratio where debt, net of domestic cash and sixty percent of the unrestricted cash held outside of the United States, must be less than or equal to 3.75 times trailing twelve months EBITDA, adjusted for certain non-cash expenses.
In May 2026, in connection with the refinancing transactions more fully described in Note 11, the Company amended its Credit Agreement to increase aggregate commitments by $200.0 million for a total of $850.0 million.
As of June 30, 2026 and 2025, we were in compliance with all covenants of the Credit Agreement. As of June 30, 2026, we had $20 million of borrowings outstanding and $830.0 million of availability. There were no borrowings outstanding as of June 30, 2025. The weighted average interest rate on borrowings under the Credit Agreement was 4.7 percent for the year ended June 30, 2026.
Borrowings on other lines of credit and notes payable were $12.2 million and $1.0 million at June 30, 2026 and 2025, respectively. The lines of credit represented short-term borrowings under credit lines with commercial banks in the various countries in which we operate. The availability of these credit lines, translated into U.S. dollars at June 30, 2026 exchange rates, totaled $48.8 million.