Income Taxes (Tables)

12 Months Ended

Jun. 30, 2026

Schedule of Components of Earnings (Losses) Before Income Taxes

The components of earnings (loss) before income taxes by jurisdiction were as follows ($000):



Year Ended June 30,	2026		2025		2024
U.S. loss	$	(84,745)	$	(445,586)	$	(540,048)
Non-U.S. income	932,478		539,767		392,401
Earnings (loss) before income taxes	$	847,733	$	94,181	$	(147,647)

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax expense (benefit) were as follows ($000):



Year Ended June 30,	2026		2025		2024
Current:
Federal	$	3,366	$	3,010	$	10,119
State	4,903		1,733		181
Foreign	251,313		154,815		103,640
Total Current	259,582		159,558		113,940
Deferred:
Federal	(54,967)		(50,454)		(68,955)
State	(1,633)		(7,217)		(186)
Foreign	(142,133)		(37,763)		(33,682)
Total Deferred	(198,733)		(95,434)		(102,823)
Total Income Tax Expense	$	60,849	$	64,124	$	11,117

Schedule of Principal Items Comprising Deferred Income Tax Assets and Liabilities

Principal items comprising deferred tax assets and liabilities were as follows ($000):



June 30,	2026		2025
Deferred income tax assets
Inventory capitalization	$	74,414	$	74,886

Non-deductible accruals	16,761		18,222
Accrued employee benefits	36,183		36,331
Net-operating loss and credit carryforwards	214,632		256,794
Share-based compensation expense	18,860		15,852
Other	9,225		9,564
R&D capitalization	215,663		168,998
Deferred revenue	12,194		15,376
ROU asset	64,962		37,785
Book over tax accumulated depreciation	6,321		—
Valuation allowances	(193,924)		(163,678)
Total deferred income tax assets	475,291		470,130
Deferred income tax liabilities
Tax over book accumulated depreciation	—		(14,038)
Intangible assets	(725,095)		(863,484)

Interest rate cap	(659)		(4,000)
Tax on unremitted earnings	(36,973)		(63,383)
Outside basis differences	(107,470)		(142,781)
ROU liability	(54,067)		(31,239)
Other	(22,203)		(9,515)
Total deferred income tax liabilities	(946,467)		(1,128,440)
Net deferred income taxes	$	(471,176)	$	(658,310)

Schedule of Reconciliation of Income Tax Expense

The reconciliation of income tax expense at the statutory U.S. federal rate to the reported income tax expense (benefit) in accordance with the guidance in ASU 2023-09 is as follows ($000):


Year Ended June 30,	2026		%
US Federal Statutory Tax Rate	$	178,024	21
State and local income taxes, net of federal income tax effect (1)	1,694		—
Foreign tax effects
China:
Research and development tax credit	(13,245)		(2)
Tax on foreign unremitted earnings	(19,373)		(2)
Withholding taxes	11,206		1
Other	(1,996)		—
Germany:
State and local income taxes	(11,029)		(1)
Loss on sale of shares	(16,142)		(2)
Enacted changes in tax laws or rates	(47,451)		(6)
Other	4,312		1
Hong Kong:
Gain on sale of shares	(11,242)		(1)
Other	(526)		—
Korea, Republic of (South):
Withholding taxes	9,561		1
Other	(5,082)		(1)
Switzerland:
Statutory tax rate difference between Switzerland and United States	(13,938)		(2)
State and local income taxes	9,652		1
Qualified domestic minimum top-up tax	8,939		1
Other	4,039		1
Other foreign jurisdictions	11,186		1
Effect of cross-border tax laws:
Global intangible low-taxed income	16,837		2
Other	1,717		—
Tax credits
Research and development tax credits	(16,326)		(2)
Changes in valuation allowances	37,883		5
Nontaxable or nondeductible items
Share-based payment awards	(18,949)		(2)
Other	8,244		1
Changes in unrecognized tax benefits	(62,799)		(7)
Other	(4,347)		(1)
	$	60,849	7

(1) State taxes in California, Kentucky, and Indiana made up the majority (greater than 50 percent) of the tax effect in this category.

The reconciliation of income tax expense at the statutory U.S. federal rate to the reported income tax expense (benefit) in accordance with the guidance prior to the adoption of ASU 2023-09 is as follows ($000):



Year Ended June 30,	2025		%	2024		%
Taxes at statutory rate	$	19,778	21	$	(31,006)	21
Increase (decrease) in taxes resulting from:
State income taxes-net of federal benefit	(4,265)		(5)	(22)		—
Taxes on non U.S. earnings	3,632		4	16,601		(11)
Valuation allowance	20,295		22	43,866		(30)
U.S. branch income	(1,216)		(1)	3,226		(2)
Noncontrolling interest	4,284		4	1,002		(1)
Research and manufacturing incentive deductions and credits	(26,396)		(28)	(41,387)		28
Stock compensation	2,153		2	13,294		(9)

GILTI and FDII	13,631		15	(629)		—
Uncertain tax positions	6,814		7	3,301		(2)
Notional interest	(10,174)		(11)	(2,521)		2
Assets held-for-sale	36,895		39	—		—

Other	(1,307)		(1)	5,392		(4)
	$	64,124	68	$	11,117	(8)

Schedule of Changes in Liability for Unrecognized Tax Benefits

Changes in the liability for unrecognized tax benefits for the fiscal years ended June 30, 2026, 2025 and 2024 were as follows ($000):



Year Ended June 30,	2026		2025		2024
Beginning balance	$	124,008	$	116,697	$	115,180
Increases in current year tax positions	6,800		9,660		5,168




Settlements	—		—		(2,970)
Expiration of statute of limitations	(67,049)		(2,349)		(681)
Ending balance	$	63,759	$	124,008	$	116,697

Schedule of Net Income Taxes Paid

The net income taxes paid (net of refunds received) by jurisdiction is as follows ($000):


June 30,	2026
Federal	$	14,882
State	3,274
Foreign
China	66,107
Germany	28,368
Switzerland	24,894
Sweden	15,977
Korea, Republic of (South)	13,656
Malaysia	11,314
Other	29,657
	$	208,129