Sales of Receivables (Tables)

3 Months Ended

Sep. 30, 2026

Transfers and Servicing of Financial Assets [Abstract]

MARPA activity consists of the following (in thousands):


	As of and for the three months ended September 30,
	2026		2025
Beginning balance:	$	333,533	$	288,909
Sales of receivables	1,157,935		1,034,447
Cash collections	(1,141,469)		(1,023,356)
Outstanding balance sold to the Purchaser (1)	349,999		300,000
Cash collected, not remitted to the Purchaser (2)	(160,719)		(135,184)
Remaining sold receivables	$	189,280	$	164,816

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(1)For the three months ended September 30, 2026 and 2025, the Company recorded net operating cash inflows from sold receivables of $16.5 million and $11.1 million, respectively.

(2)This balance is included in Other accrued expenses and current liabilities on the condensed consolidated balance sheets.