0000779152-24-000079 | 10-K | XBRL Viewer | Jack Henry Associates INC

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Business Acquisitions (Details) $ in Thousands	Aug. 31, 2022 USD ($)
Business Acquisition [Line Items]
Acquired Receivable, Fair Value	$ 978
Payrailz
Business Acquisition [Line Items]
Business Acquisition, Effective Date of Acquisition	Aug. 31, 2022
Payments to Acquire Businesses, Gross	$ 230,205
Escrow deposit related to acquisition, total	48,500
Escrow deposit - final purchase price adjustment	2,500
Escrow deposit - indemnification matters	46,000
Current assets	1,851
Identifiable intangible assets	119,868
Deferred revenue	8,104
Total other liabilities assumed	749
Total identifiable net assets	112,866
Net assets acquired	230,205
Cash Acquired from Acquisition	577
Acquired Receivables, Gross Contractual Amount	978
Acquired Receivables, Estimated Uncollectible	0
Payrailz \| Customer Relationships [Member]
Business Acquisition [Line Items]
Identifiable Intangible Assets Acquired	$ 6,109
Identifiable Intangible Assets, Weighted Average Useful Life	15 years
Payrailz \| Computer Software [Member]
Business Acquisition [Line Items]
Identifiable Intangible Assets Acquired	$ 112,505
Identifiable Intangible Assets, Weighted Average Useful Life	10 years
Payrailz \| Other Intangible Assets [Member]
Business Acquisition [Line Items]
Identifiable Intangible Assets Acquired	$ 1,254
Identifiable Intangible Assets, Weighted Average Useful Life	15 years
Payrailz \| Payments [Member]
Business Acquisition [Line Items]
Goodwill	$ 117,339

Fair Value Measures and Disclosures (Tables)

12 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

Financial assets and financial liabilities measured at fair value on a recurring basis are as follows:


	Estimated Fair Value Measurements						Total Fair
	Level 1		Level 2		Level 3		Value
June 30, 2024
Financial Assets:

Certificates of Deposit	$	—	$	3,505	$	—	$	3,505
Financial Liabilities:
Credit facilities	$	—	$	150,000	$	—	$	150,000
June 30, 2023
Financial Assets:
Certificates of Deposit	$	—	$	2,234	$	—	$	2,234

Financial Liabilities:
Credit facilities	$	—	$	275,000	$	—	$	275,000

Other Assets (Text Block)

12 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Other Assets Disclosure [Text Block]

OTHER ASSETS

Goodwill

The carrying amount of goodwill for the fiscal years ended June 30, 2024, and 2023, by reportable segments, is as follows:


	June 30,
Core	2024		2023
Beginning balance	$	195,578	$	195,578
Goodwill, acquired during the year	—		—

Goodwill, adjustments related to dispositions	—		—
Ending balance	$	195,578	$	195,578

Payments
Beginning balance	$	442,665	$	325,326
Goodwill, acquired during the year	—		117,339
Goodwill, adjustments related to dispositions	—		—
Ending balance	$	442,665	$	442,665

Complementary
Beginning balance	$	166,554	$	166,554
Goodwill, acquired during the year	—		—

Goodwill, adjustments related to dispositions	—		—
Ending balance	$	166,554	$	166,554

Goodwill acquired during fiscal 2024 and 2023 was $0 and $117,339, respectively. Goodwill consists largely of the growth potential, synergies and economies of scale expected from combining the operations of the Company with those of the entities or assets acquired, together with their assembled workforces. No goodwill has been assigned to the Company's Corporate and Other reportable segment.

Other intangible assets

Information regarding other identifiable intangible assets is as follows:


	June 30, 2024
	Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	306,036	$	(249,279)	$	56,757
Computer software	$	1,533,622	$	(940,861)	$	592,761
Other intangible assets:	$	111,510	$	(89,359)	$	22,151

	June 30, 2023
	Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	306,036	$	(240,508)	$	65,528
Computer software	$	1,386,291	$	(820,577)	$	565,714
Other intangible assets:	$	108,826	$	(88,828)	$	19,998

Customer relationships have useful lives ranging from 5 to 20 years.

Computer software includes cost of software to be sold, leased, or marketed of $178,588 and costs of internal-use software of $414,173 at June 30, 2024. At June 30, 2023, costs of software to be sold, leased, or marketed totaled $171,310, and costs of internal-use software totaled $394,404.

Computer software includes the unamortized cost of commercial software products developed or acquired by the Company, which are capitalized and amortized over useful lives generally ranging from 5 to 15 years. Amortization expense for computer software totaled $137,958, $123,210, and $105,036 for the fiscal years ended June 30, 2024, 2023, and 2022, respectively. There were no material impairments in fiscal years ended June 30, 2024, 2023, and 2022.

The Company's other intangible assets have useful lives ranging from 3 to 20 years.

Amortization expense for all intangible assets was $153,562, $142,006, and $126,835 for the fiscal years ended June 30, 2024, 2023, and 2022, respectively. The estimated aggregate future amortization expense for each of the next five years for all intangible assets remaining as of June 30, 2024, is as follows:


Years Ending June 30,	Computer Software		Customer Relationships		Other Intangible Assets		Total
2025	$	131,962	$	8,317	$	6,378	$	146,657
2026	110,330		7,952		5,535		123,817
2027	86,947		7,858		4,016		98,821
2028	61,414		7,821		1,314		70,549
2029	37,707		7,776		1,002		46,485

Unit Awards (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, period start, number of shares	303	303	294
Granted, number of shares	160	136	135
Vested, number of shares	(99)	(120)	(71)
Forfeited, number of shares	(39)	(16)	(55)
Outstanding, period end, number of shares	325	303	303
Outstanding, period start, weighted average grant date fair value	$ 190.08	$ 166.50	$ 160.22
Granted, weighted average grant date fair value	177.95	214.78	178.60
Vested, weighted average grant date fair value	170.25	159.10	145.50
Forfeited, weighted average grant date fair value	194.11	186.35	189.33
Outstanding, period end, weighted average grant date fair value	$ 189.68	$ 190.08	$ 166.50
Outstanding, period end, aggregate intrinsic value	$ 53,953
Restricted Stock Units (RSUs) [Member] \| Fair value on grant date less PV of dividends [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted, number of shares	97
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted, number of shares	63
Performance Shares [Member] \| Fair value on grant date less PV of dividends [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted, number of shares	24
Performance Shares [Member] \| Fair value under Monte Carlo [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted, number of shares	35
Performance Shares [Member] \| Other valuation approach [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted, number of shares	4

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Jun. 30, 2024	Aug. 15, 2024	Dec. 31, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--06-30
Entity File Number	0-14112
Entity Registrant Name	JACK HENRY & ASSOCIATES, INC.
Entity Central Index Key	0000779152
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	43-1128385
Entity Address, Address Line One	663 Highway 60, P.O. Box 807
Entity Address, City or Town	Monett
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	65708
City Area Code	417
Local Phone Number	235-6652
Title of 12(b) Security	Common Stock ($0.01 par value)
Trading Symbol	JKHY
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 11,835,584,815
Entity Common Stock, Shares Outstanding		72,908,319
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	238
Auditor Location	Kansas City, Missouri
Documents Incorporated by Reference	Portions of the Company's Proxy Statement for its 2024 Annual Meeting of Stockholders (the "Proxy Statement") are incorporated by reference into Part III of this Report to the extent stated herein. Such Proxy Statement will be filed with the Securities and Exchange Commission ("SEC") within 120 days of the Company's fiscal year ended June 30, 2024.

Revenue and Deferred Costs Contract Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Receivables, net	$ 333,033	$ 361,252
Contract Assets- Current	33,610	26,711
Contract Assets- Non-current	103,295	81,561
Contract Liabilities (Deferred Revenue)- Current	317,730	331,974
Contract Liabilities (Deferred Revenue)- Non-current	$ 71,202	$ 67,755

Stock Based Compensation Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expense for stock-based compensation	$ 28,873	$ 28,611	$ 24,780
Restricted Stock Plan Expense	26,361	26,427	22,703
Tax benefit from stock-based compensation expense	4,495	5,115	4,252
Net tax shortfall from stock-based compensation	(184)
Net excess tax benefit from stock-based compensation		1,109	652
Compensation expense yet to be recognized	$ 21,655
Compensation expense yet to be recognized, period for recognition	1 year 7 days
Restricted Shares and Units, Vested in Period, Fair Value	$ 16,544	$ 24,931	$ 12,139
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross	0	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	12	12	12
Exercisable, period end, intrinsic value	$ 920
Exercised, number of shares	0	0	(10)
Exercised, weighted average exercise price			$ 87.27
Total intrinsic value of options exercised			$ 1,005
Forfeited, number of shares	0	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 87.27	$ 87.27	$ 87.27
Compensation not yet recognized, stock options	$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	2 years
2015 EIP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares Authorized	3,000
2015 EIP [Member] \| Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite Service Period	3 years
Stock Option Termination Period After Termination of Employment	90 days
Stock Option Termination Period After Death	1 year
Stock Option Termination After Grant Date	10 years
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years

Reportable Segment Information Narrative (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2024 USD ($) segment	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Segment Reporting [Abstract]
Number of Reportable Segments \| segment	4
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	$ 2,215,543	$ 2,077,702	$ 1,942,884
Services and Support [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	1,275,954	1,214,701	1,156,365
Processing [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	939,589	863,001	786,519
Core Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Reclassification of Revenue from Core to Corporate and Other		(7,119)
Reclassification of Cost from Core to Corporate and Other		(6,713)
REVENUE	690,738	649,045	622,442
Core Segment [Member] \| Services and Support [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	649,169	608,517	583,752
Core Segment [Member] \| Processing [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	41,569	40,528	38,690
Payments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Reclassification of Revenue from Payments to Corporate and Other		(30)
Reclassification of Cost from Payments to Corporate and Other		(2,594)
REVENUE	817,708	767,309	719,068
Payments [Member] \| Services and Support [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	84,655	79,788	83,810
Payments [Member] \| Processing [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	733,053	687,521	635,258
Complementary [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Reclassification of Revenue from Complementary to Corporate and Other		(307)
Reclassification of Cost of Revenue from Complementary to Corporate and Other		(1,286)
REVENUE	618,211	583,586	544,244
Complementary [Member] \| Services and Support [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	461,828	453,541	434,159
Complementary [Member] \| Processing [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	156,383	130,045	110,085
Corporate and Other [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Reclassification of Revenue from Core to Corporate and Other		7,119
Reclassification of Revenue from Payments to Corporate and Other		30
Reclassification of Revenue from Complementary to Corporate and Other		307
Reclassification of Cost from Core to Corporate and Other		6,713
Reclassification of Cost from Payments to Corporate and Other		2,594
Reclassification of Cost of Revenue from Complementary to Corporate and Other		1,286
REVENUE	88,886	77,762	57,130
Corporate and Other [Member] \| Services and Support [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	80,302	72,855	54,644
Corporate and Other [Member] \| Processing [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	$ 8,584	$ 4,907	$ 2,486

Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
REVENUE	$ 2,215,543	$ 2,077,702	$ 1,942,884
Private and Public Cloud [Member]
Disaggregation of Revenue [Line Items]
REVENUE	682,146	618,850	561,500
Product Delivery and Service [Member]
Disaggregation of Revenue [Line Items]
REVENUE	238,723	245,687	250,843
On-Premise Support [Member]
Disaggregation of Revenue [Line Items]
REVENUE	355,085	350,164	344,022
Services and Support [Member]
Disaggregation of Revenue [Line Items]
REVENUE	1,275,954	1,214,701	1,156,365
Processing [Member]
Disaggregation of Revenue [Line Items]
REVENUE	$ 939,589	$ 863,001	$ 786,519

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

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+ Details

Subsequent Events (Details) - $ / shares		12 Months Ended
Subsequent Events (Details) - $ / shares	Aug. 23, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Subsequent Events
Dividends declared per share		$ 2.14	$ 2.02	$ 1.90
Subsequent Event
Subsequent Events
Dividend declared date	Aug. 23, 2024
Dividends declared per share	$ 0.55
Dividend payable date	Sep. 27, 2024
Dividend record date	Sep. 06, 2024

Income Taxes (Text Block)

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes [Text Block]

INCOME TAXES

The provision for income taxes consists of the following:


	Year Ended June 30,
	2024		2023		2022
Current:
Federal	$	93,890	$	125,622	$	59,390
State	23,222		30,505		18,089
Deferred:
Federal	(1,615)		(40,218)		24,391
State	706		(7,981)		7,481
	$	116,203	$	107,928	$	109,351

The tax effects of temporary differences related to deferred taxes shown on the balance sheets were:


	June 30,
	2024		2023
Deferred tax assets:
Contract and service revenues	$	21,985	$	18,186
Expense reserves and accruals (bad debts and compensation)	16,123		14,023
Leasing liabilities	14,755		12,462
Net operating loss and tax credit carryforwards	2,155		1,965
Other, net	3,369		2,916
Total gross deferred tax assets	58,387		49,552
Valuation allowance	(108)		(125)
Net deferred tax assets	58,279		49,427

Deferred tax liabilities:
Property and equipment depreciation	(26,689)		(27,788)
Intangibles, software development, and research and development tax amortization	(113,623)		(136,045)
Contract and service costs	(148,126)		(119,201)
Leasing right-of-use assets	(13,363)		(10,824)
Total gross deferred liabilities	(301,801)		(293,858)

Net deferred tax liability	$	(243,522)	$	(244,431)

The following analysis reconciles the statutory federal income tax rate to the effective income tax rates reflected above:


	Year Ended June 30,
	2024		2023		2022
Computed "expected" tax expense	21.0	%	21.0	%	21.0	%
Increase (reduction) in taxes resulting from:
State income taxes, net of federal income tax benefits	3.8	%	3.7	%	4.3	%
Research and development credit	(2.6)	%	(2.3)	%	(2.0)	%

Changes to prior year uncertain tax positions	0.6	%	—	%	—	%

Other (net)	0.5	%	0.3	%	(0.1)	%
	23.3	%	22.7	%	23.2	%

As of June 30, 2024, the Company has state NOL and tax credit carryforwards with a tax-effected value of $110 and $2,045, respectively. The state loss and credit carryover have varying expiration dates, ranging from fiscal 2025 to 2044. Based on state tax rules which restrict utilization of these losses and tax credits, the Company believes it is more likely than not that $108 of these losses and tax credits will expire unutilized. Accordingly, valuation allowances of $108 and $125 have been recorded against the state net operating losses and tax credit carryforwards as of June 30, 2024, and 2023, respectively.

The Company paid income taxes, net of refunds, of $106,966, $145,862, and $60,553 in fiscal 2024, 2023, and 2022, respectively.

At June 30, 2024, the Company had $19,077 of gross unrecognized tax benefits, $17,222 of which, if recognized, would affect its effective tax rate. At June 30, 2023, the Company had $12,005 of gross unrecognized tax benefits, $10,453 of which, if recognized, would affect its effective tax rate. The Company had accrued interest and penalties of $3,351 and $1,872 related to uncertain tax positions at June 30, 2024, and 2023, respectively. The income tax provision included interest expense and penalties (or benefits) on unrecognized tax benefits of $1,132, $529, and $73 in the fiscal years ended June 30, 2024, 2023, and 2022, respectively.

A reconciliation of the unrecognized tax benefits for the fiscal years ended June 30, 2024, 2023, and 2022, follows:


	Unrecognized Tax Benefits
Balance at July 1, 2021	$	8,762
Additions for current year tax positions	1,863

Additions for prior year tax positions	1,642
Reductions for prior year tax positions	(36)


Reductions related to expirations of statute of limitations	(3,241)
Balance at June 30, 2022	8,990
Additions for current year tax positions	2,570

Additions for prior year tax positions	2,433
Reductions for prior year tax positions	(350)


Reductions related to expirations of statute of limitations	(1,638)
Balance at June 30, 2023	12,005
Additions for current year tax positions	3,924

Additions for prior year tax positions	4,672



Reductions related to expirations of statute of limitations	(1,524)
Balance at June 30, 2024	$	19,077

The U.S. federal income tax returns for fiscal 2021 and all subsequent years remain subject to examination as of June 30, 2024, under statute of limitations rules. The U.S. state income tax returns that remain subject to examination as of June 30, 2024, under the statute of limitation rules varies by state jurisdiction from fiscal 2016 through 2019 and all subsequent years. The Company anticipates that potential changes due to lapsing statutes of limitations and examination closures could reduce the unrecognized tax benefits balance by $3,000 — $7,000 within twelve months of June 30, 2024.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Earnings Per Share (Text Block)

12 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

EARNINGS PER SHARE

The following table reflects the reconciliation between basic and diluted earnings per share.


	Year Ended June 30,
	2024		2023		2022
Net Income	$	381,816	$	366,646	$	362,916
Common share information:
Weighted average shares outstanding for basic earnings per share	72,867		72,918		73,324
Dilutive effect of stock options, restricted stock units, and performance units	158		178		162
Weighted average shares outstanding for diluted earnings per share	73,025		73,096		73,486
Basic earnings per share	$	5.24	$	5.03	$	4.95
Diluted earnings per share	$	5.23	$	5.02	$	4.94

Per share information is based on the weighted average number of common shares outstanding for each of the fiscal years. Stock options, restricted stock units, and performance units have been included in the calculation of earnings per share to the extent they are dilutive. The two-class method for computing EPS has not been applied because no outstanding awards contain non-forfeitable rights to participate in dividends. There were 33 anti-dilutive weighted average shares excluded from the weighted average shares outstanding for diluted earnings per share for fiscal 2024, 10 shares were excluded for fiscal 2023, and 7 shares were excluded for fiscal 2022.

Property and Equipment (Text Block)

12 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment [Text Block]

PROPERTY AND EQUIPMENT

The classification of property and equipment, together with their estimated useful lives is as follows:


	June 30,
	2024		2023		Estimated Useful Life
Land	$	16,357	$	16,581
Land improvements	24,322		24,251		5 - 20 years
Buildings	133,835		129,991		20 - 30 years
Leasehold improvements	51,432		51,125		5 - 30 years	(1)
Equipment and furniture	418,853		394,507		3 - 10 years
Aircraft and equipment	44,140		41,400		4 - 10 years
Construction in progress	12,298		14,208
Finance lease right-of-use asset (2)	—		312
	701,237		672,375
Less accumulated depreciation	486,168		466,711
Property and equipment, net	$	215,069	$	205,664

(1) Lesser of lease term or estimated useful life

(2) Fully depreciated at June 30, 2023.

The change in property and equipment in accrued liabilities was an increase of $723 and $3,969 for the fiscal years ended June 30, 2024, and 2023, respectively. These amounts were excluded from capital expenditures on the statements of cash flows.

No material impairments of property and equipment were recorded in the fiscal years ended June 30, 2024, 2023, or 2022.

Nature of Operations and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Consolidation	The consolidated financial statements include the accounts of Jack Henry and all its subsidiaries, which are wholly owned, and all intercompany accounts and transactions have been eliminated.
Use of Estimates	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Revenue Recognition	The Company generates "Services and Support" revenue through software licensing and related services, private cloud core and complementary software solutions, professional services, and hardware sales. The Company generates "Processing" revenue through processing of remittance transactions, card transactions and monthly fees, and digital transactions. Identification of performance obligations The Company enters into contracts with clients that may include multiple types of goods and services. At contract inception, the Company assesses the solutions and services promised in its contracts with clients and identifies a performance obligation for each promise to transfer to the client a solution or service (or bundle of solutions or services) that is distinct - that is, if the solution or service is separately identifiable from other items in the arrangement and if the client can benefit from the solution or service on its own or together with other resources that are readily available. Judgment is used in the identification and accounting for all performance obligations. Determination of transaction price The amount of revenue recognized is based on the consideration the Company expects to receive in exchange for transferring goods and services to the client. The Company’s contracts with its clients frequently contain some component of variable consideration. The Company estimates variable consideration in its contracts primarily using the expected value method, based on both historical and current information. Where appropriate, the Company may constrain the estimated variable consideration included in the transaction price in the event of a high degree of uncertainty as to the final consideration amount. Significant judgment is used in the estimate of variable consideration of client contracts that are long-term and include varying transactional volumes. Allocation of transaction price The transaction price, once determined, is allocated between the various performance obligations in the contract based upon their relative standalone selling prices. The standalone selling prices are determined based on the prices at which the Company separately sells each good or service. For items that are not sold separately, the Company estimates the standalone selling prices using all information that is reasonably available, including reference to historical pricing data.
Computer Software Development	The Company capitalizes new product development costs incurred for software to be sold from the point at which technological feasibility has been established through the point at which the product is ready for general availability. Software development costs that are capitalized are evaluated on a product-by-product basis annually for impairment and are assigned an estimated economic life based on the type of product, market characteristics, and maturity of the market for that particular product. These costs are amortized based on current and estimated future revenue from the product or on a straight-line basis, whichever yields greater amortization expense. All of this amortization expense is included within components of operating income, primarily cost of revenue.
Internal Use Software	The Company capitalizes development costs for internal use software beginning at the start of application development. Amortization begins on the date the software is placed in service and the amortization period is based on estimated useful life.
Cash Equivalents	The Company considers all highly liquid investments with maturities of three months or less at the time of acquisition to be cash equivalents.
Accounts Receivable	Receivables are recorded at the time of billing. The Company monitors trade and other receivable balances and contract assets and estimates the allowance for lifetime expected credit losses. Estimates of expected credit losses are based on historical collection experience and other factors, including those related to current market conditions and events.
Property and Equipment	Property and equipment is stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets.
Intangible Assets	Intangible assets consist of goodwill, customer relationships, computer software, and trade names acquired in business acquisitions in addition to internally developed computer software. The amounts are amortized, with the exception of those with an indefinite life (goodwill), over an estimated economic benefit period, generally three to twenty years. The Company reviews its long-lived assets and identifiable intangible assets with finite lives for impairment whenever events or changes in circumstances have indicated that it is more likely than not that the carrying amount of its assets might not be recoverable. The Company evaluates goodwill for impairment of value on an annual basis as of January 1 and between annual tests if events or changes in circumstances indicate that it is more likely than not that the asset might be impaired.
Comprehensive Income	Comprehensive income for each of the fiscal years ending June 30, 2024, 2023, and 2022, equals the Company’s net income.
Reportable Segment Information	In accordance with U.S. GAAP, the Company's operations are classified as four reportable segments: Core, Payments, Complementary, and Corporate and Other (see Note 14). Substantially all the Company’s revenues are derived from operations and assets located within the United States of America.
Common Stock	The Board of Directors has authorized the Company to repurchase shares of its common stock. Under this authorization, the Company may finance its share repurchases with available cash reserves or short-term borrowings on its existing credit facilities. The share repurchase program does not include specific price targets or timetables and may be suspended at any time.
Earnings Per Share	Per share information is based on the weighted average number of common shares outstanding during the year. Stock options and restricted stock have been included in the calculation of income per diluted share to the extent they are dilutive. The difference between basic and diluted weighted average shares outstanding is the dilutive effect of outstanding stock options and restricted stock (see Note 11).
Income Taxes	Deferred tax liabilities and assets are recognized for the tax effects of differences between the financial statement and tax bases of assets and liabilities. A valuation allowance would be established to reduce deferred tax assets if it is more likely than not that a deferred tax asset will not be realized. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based upon the technical merits of the position. The tax benefit recognized in the financial statements from such a position is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Also, interest and penalties expense are recognized on the full amount of unrecognized benefits for uncertain tax positions. The Company's policy is to include interest and penalties related to unrecognized tax benefits in income tax expense.

Effective Tax Rate Reconciliation (Details)	12 Months Ended
Effective Tax Rate Reconciliation (Details)	Jun. 30, 2024 Rate	Jun. 30, 2023 Rate	Jun. 30, 2022 Rate
Income Tax Disclosure [Abstract]
Computed expected tax expense	21.00%	21.00%	21.00%
State income taxes, net of federal income tax benefits	3.80%	3.70%	4.30%
Research and development credit	(2.60%)	(2.30%)	(2.00%)
Changes to prior year uncertain tax positions	0.60%	0.00%	0.00%
Other (net)	0.50%	0.30%	(0.10%)
Effective Income Tax Rate	23.30%	22.70%	23.20%

Reportable Segment Information (Details)	12 Months Ended
Reportable Segment Information (Details)	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of Reportable Segments	4

Employee Benefits Plans 401(k) (Details) $ in Thousands	12 Months Ended
Employee Benefits Plans 401(k) (Details) $ in Thousands	Jun. 30, 2024 USD ($) Rate	Jun. 30, 2023 USD ($) Rate	Jun. 30, 2022 USD ($) Rate
Retirement Benefits [Abstract]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match \| Rate	100.00%	100.00%	100.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay \| Rate	5.00%	5.00%	5.00%
Defined Contribution Plan, Age Requirement	18	18	18
Defined Contribution Plan, Employment Length Requirement	6 months	6 months	6 months
Defined Contribution Plan, Employer Discretionary Contribution Amount \| $	$ 0	$ 0	$ 0
Defined Contribution Plan, Matching Contributions \| $	$ 31,995	$ 29,308	$ 28,259

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 381,816	$ 366,646	$ 362,916
Adjustments to reconcile net income to net cash from operating activities:
Depreciation	46,342	48,720	50,789
Amortization	153,562	142,006	126,835
Change in deferred income taxes	(909)	(48,199)	31,872
Expense for stock-based compensation	28,873	28,611	24,780
(Gain)/loss on disposal of assets and businesses	3,841	(4,517)	400
Changes in operating assets and liabilities:
Change in receivables	28,219	(12,067)	(41,508)
Change in prepaid expenses, deferred costs and other	(115,558)	(112,316)	(82,565)
Change in accounts payable	5,435	(6,277)	6,646
Change in accrued expenses	37,292	(20,453)	1,190
Change in income taxes	9,925	9,952	16,704
Change in deferred revenues	(10,797)	(10,547)	6,572
Net cash from operating activities	568,041	381,559	504,631
CASH FLOWS FROM INVESTING ACTIVITIES:
Payment for acquisitions, net of cash acquired	0	(229,628)	0
Capital expenditures	(58,118)	(39,179)	(34,659)
Proceeds from the sale of assets	904	27,939	45
Purchased software	(7,130)	(1,685)	(8,491)
Computer software developed	(167,175)	(166,120)	(148,239)
Purchase of investments	(8,646)	(1,000)	(5,000)
Net cash from investing activities	(240,165)	(409,673)	(196,344)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on credit facilities	475,000	810,000	332,000
Repayments on credit facilities and financing leases	(600,000)	(650,060)	(317,127)
Purchase of treasury stock	(28,055)	(25,000)	(193,916)
Dividends paid	(155,877)	(147,237)	(139,070)
Proceeds from issuance of common stock upon exercise of stock options	0	1	0
Tax withholding payments related to share based compensation	(5,378)	(8,505)	(4,152)
Proceeds from sale of common stock	12,475	12,371	11,773
Net cash from financing activities	(301,835)	(8,430)	(310,492)
NET CHANGE IN CASH AND CASH EQUIVALENTS	26,041	(36,544)	(2,205)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	12,243	48,787	50,992
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 38,284	$ 12,243	$ 48,787

Income Taxes Income Taxes (Tables)

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income taxes consists of the following:


	Year Ended June 30,
	2024		2023		2022
Current:
Federal	$	93,890	$	125,622	$	59,390
State	23,222		30,505		18,089
Deferred:
Federal	(1,615)		(40,218)		24,391
State	706		(7,981)		7,481
	$	116,203	$	107,928	$	109,351

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of temporary differences related to deferred taxes shown on the balance sheets were:


	June 30,
	2024		2023
Deferred tax assets:
Contract and service revenues	$	21,985	$	18,186
Expense reserves and accruals (bad debts and compensation)	16,123		14,023
Leasing liabilities	14,755		12,462
Net operating loss and tax credit carryforwards	2,155		1,965
Other, net	3,369		2,916
Total gross deferred tax assets	58,387		49,552
Valuation allowance	(108)		(125)
Net deferred tax assets	58,279		49,427

Deferred tax liabilities:
Property and equipment depreciation	(26,689)		(27,788)
Intangibles, software development, and research and development tax amortization	(113,623)		(136,045)
Contract and service costs	(148,126)		(119,201)
Leasing right-of-use assets	(13,363)		(10,824)
Total gross deferred liabilities	(301,801)		(293,858)

Net deferred tax liability	$	(243,522)	$	(244,431)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The following analysis reconciles the statutory federal income tax rate to the effective income tax rates reflected above:


	Year Ended June 30,
	2024		2023		2022
Computed "expected" tax expense	21.0	%	21.0	%	21.0	%
Increase (reduction) in taxes resulting from:
State income taxes, net of federal income tax benefits	3.8	%	3.7	%	4.3	%
Research and development credit	(2.6)	%	(2.3)	%	(2.0)	%

Changes to prior year uncertain tax positions	0.6	%	—	%	—	%

Other (net)	0.5	%	0.3	%	(0.1)	%
	23.3	%	22.7	%	23.2	%

Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Table Text Block]

A reconciliation of the unrecognized tax benefits for the fiscal years ended June 30, 2024, 2023, and 2022, follows:


	Unrecognized Tax Benefits
Balance at July 1, 2021	$	8,762
Additions for current year tax positions	1,863

Additions for prior year tax positions	1,642
Reductions for prior year tax positions	(36)


Reductions related to expirations of statute of limitations	(3,241)
Balance at June 30, 2022	8,990
Additions for current year tax positions	2,570

Additions for prior year tax positions	2,433
Reductions for prior year tax positions	(350)


Reductions related to expirations of statute of limitations	(1,638)
Balance at June 30, 2023	12,005
Additions for current year tax positions	3,924

Additions for prior year tax positions	4,672



Reductions related to expirations of statute of limitations	(1,524)
Balance at June 30, 2024	$	19,077

Treasury Stock (Details) - USD ($) $ in Thousands	12 Months Ended
Treasury Stock (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Equity [Abstract]
Treasury stock, common, shares	31,372,959	31,194,351
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	3,618,000	3,796,000
Treasury Stock, Value	$ 1,860,173	$ 1,832,118
Treasury Stock, Shares, Acquired	179,000
Purchase of treasury stock	$ 28,055	$ 25,000	$ 193,916

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Land	$ 16,357	$ 16,581
Land improvements	24,322	24,251
Buildings	133,835	129,991
Leasehold improvements	51,432	51,125
Equipment and furniture	418,853	394,507
Aircraft and equipment	44,140	41,400
Construction in progress	12,298	14,208
Finance lease right of use asset	0	312
Property and equipment, total	701,237	672,375
Less accumulated depreciation	486,168	466,711
Property and equipment, net	215,069	205,664
Liabilities Assumed	723	3,969
Impairment of Long-Lived Assets to be Disposed of	$ 0	$ 0	$ 0
Land improvements [Member] \| Minimum [Member]
Estimated Useful Life	5 years
Land improvements [Member] \| Maximum [Member]
Estimated Useful Life	20 years
Buildings [Member] \| Minimum [Member]
Estimated Useful Life	20 years
Buildings [Member] \| Maximum [Member]
Estimated Useful Life	30 years
Leasehold improvements [Member] \| Minimum [Member]
Estimated Useful Life	5 years
Leasehold improvements [Member] \| Maximum [Member]
Estimated Useful Life	30 years
Equipment and furniture [Member] \| Minimum [Member]
Estimated Useful Life	3 years
Equipment and furniture [Member] \| Maximum [Member]
Estimated Useful Life	10 years
Aircraft and equipment [Member] \| Minimum [Member]
Estimated Useful Life	4 years
Aircraft and equipment [Member] \| Maximum [Member]
Estimated Useful Life	10 years

Fair Value Measures and Disclosures

12 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

FAIR VALUE OF FINANCIAL INSTRUMENTS

For cash equivalents, certificates of deposit, amounts receivable or payable, and short-term borrowings, fair values approximate carrying value, based on the short-term nature of the assets and liabilities.

The Company's estimates of the fair value for financial assets and financial liabilities are based on the framework established in the fair value accounting guidance. The framework is based on the inputs used in valuation, gives the highest priority to quoted prices in active markets, and requires that observable inputs be used in the valuations when available. The three levels of the hierarchy are as follows:

Level 1: inputs to the valuation are quoted prices in an active market for identical assets.

Level 2: inputs to the valuation include quoted prices for similar assets in active markets that are observable either directly or indirectly.

Level 3: valuation is based on significant inputs that are unobservable in the market and the Company's own estimates of assumptions that we believe market participants would use in pricing the asset.

Financial assets and financial liabilities measured at fair value on a recurring basis are as follows:


	Estimated Fair Value Measurements						Total Fair
	Level 1		Level 2		Level 3		Value
June 30, 2024
Financial Assets:

Certificates of Deposit	$	—	$	3,505	$	—	$	3,505
Financial Liabilities:
Credit facilities	$	—	$	150,000	$	—	$	150,000
June 30, 2023
Financial Assets:
Certificates of Deposit	$	—	$	2,234	$	—	$	2,234

Financial Liabilities:
Credit facilities	$	—	$	275,000	$	—	$	275,000

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Deferred Tax Liability (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Contract and service revenues	$ 21,985	$ 18,186
Expense reserves and accruals (bad debts and compensation)	16,123	14,023
Leasing liabilities	14,755	12,462
Net operating loss and tax credit carryforwards	2,155	1,965
Other, net	3,369	2,916
Total gross deferred tax assets	58,387	49,552
Valuation allowance	(108)	(125)
Net deferred tax assets	58,279	49,427
Property and equipment depreciation	(26,689)	(27,788)
Intangibles, software development, and research and development tax amortization	(113,623)	(136,045)
Contract and service costs	(148,126)	(119,201)
Leasing right-of-use assets	(13,363)	(10,824)
Total gross deferred liabilities	301,801	293,858
Net deferred tax liability	$ (243,522)	$ (244,431)

Business Acquisitions (Text Block)

12 Months Ended

Jun. 30, 2024

Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]

Business Acquisitions [Text Block]

BUSINESS ACQUISITION

Payrailz

On August 31, 2022, the Company acquired all of the equity interest in Payrailz. The final purchase price, following customary post-closing adjustments to the extent actual closing date working capital, cash, debt, and unpaid seller transaction expenses exceeded or were less than the amounts estimated at closing, was $230,205. Pursuant to the merger agreement for the transaction, $48,500 of the purchase price was placed in an escrow account at the closing, consisting of $2,500 for any final purchase price adjustments owed by the sellers, which amount was released to the sellers on December 15, 2022, in connection with post-closing purchase price adjustments, and $46,000 for indemnification matters under the merger agreement, which amount was released to the sellers on September 20, 2023.

The primary reason for the acquisition was to expand the Company's digital financial management solutions and the purchase was originally funded by our revolving line of credit (Note 7) and cash generated from operations. Payrailz provides cloud-native, API-first, AI-enabled consumer and commercial digital payment solutions and experiences that enable money to be moved in the moment of need.

Management has completed a purchase price allocation and assessment of the fair value of acquired assets and liabilities assumed. The recognized amounts of identifiable assets acquired, and liabilities assumed, based on their fair values as of August 31, 2022, and taking into account the post-closing purchase price adjustment described above, are set forth below:


Current assets	$	1,851

Identifiable intangible assets	119,868
Deferred revenue	(8,104)
Total other liabilities assumed	(749)
Total identifiable net assets	112,866
Goodwill	117,339
Net assets acquired	$	230,205

The goodwill of $117,339 arising from this acquisition consists largely of the growth potential, synergies, and economies of scale expected from combining the operations of the Company with those of Payrailz, together with the value of Payrailz's assembled workforce. The goodwill from this acquisition has been allocated to our Payments segment and $117,339 is expected to be deductible for income tax purposes.

Identifiable intangible assets from this acquisition consist of customer relationships of $6,109, computer software of $112,505, and other intangible assets of $1,254. The amortization period for acquired customer relationships, computer software, and other intangible assets is over a term of 15 years, 10 years, and 15 years, respectively.

Current assets were inclusive of cash acquired of $577. The fair value of current assets acquired included accounts receivable of $978, none of which were expected to be uncollectible.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Preferred stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock, Common
Balance, beginning of year (value) at Jun. 30, 2021			$ 1,038	$ 518,960	$ 2,412,496	$ (1,613,202)
Shares, beginning of year at Jun. 30, 2021			103,795,169
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued for equity-based payment arrangements (value)			$ 0	0
Shares issued for equity-based payment arrangements (shares)			46,669
Tax withholding related to share based compensation				(4,152)
Shares issued for Employee Stock Purchase Plan (value)			$ 1	11,772
Shares issued for Employee Stock Purchase Plan (shares)			79,886
Stock-based compensation expense (value)				24,780
Net income	$ 362,916				362,916
Dividends					(139,070)
Purchase of treasury shares						(193,916)
Balance, end of year (value) at Jun. 30, 2022	$ 1,381,623		$ 1,039	551,360	2,636,342	(1,807,118)
Shares, end of year at Jun. 30, 2022			103,921,724
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared per share	$ 1.90
Preferred Shares		0
Shares issued for equity-based payment arrangements (value)			$ 1	1
Shares issued for equity-based payment arrangements (shares)			82,776
Tax withholding related to share based compensation				(8,505)
Shares issued for Employee Stock Purchase Plan (value)			$ 1	12,371
Shares issued for Employee Stock Purchase Plan (shares)			84,284
Stock-based compensation expense (value)				28,611
Net income	$ 366,646				366,646
Dividends					(147,237)
Purchase of treasury shares						(25,000)
Balance, end of year (value) at Jun. 30, 2023	$ 1,608,510		$ 1,041	583,836	2,855,751	(1,832,118)
Shares, end of year at Jun. 30, 2023			104,088,784
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared per share	$ 2.02
Preferred Shares		0
Shares issued for equity-based payment arrangements (value)			$ 0	0
Shares issued for equity-based payment arrangements (shares)			65,766
Tax withholding related to share based compensation				(5,378)
Shares issued for Employee Stock Purchase Plan (value)			$ 1	12,474
Shares issued for Employee Stock Purchase Plan (shares)			90,539
Stock-based compensation expense (value)				28,873
Net income	$ 381,816				381,816
Dividends					(155,877)
Purchase of treasury shares						(28,055)
Balance, end of year (value) at Jun. 30, 2024	$ 1,842,364		$ 1,042	$ 619,805	$ 3,081,690	$ (1,860,173)
Shares, end of year at Jun. 30, 2024			104,245,089
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared per share	$ 2.14
Preferred Shares		0

Reportable Segment Information (Tables)

12 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]


	Year Ended
	June 30, 2024
	Core		Payments		Complementary		Corporate and Other		Total
REVENUE
Services and Support	$	649,169	$	84,655	$	461,828	$	80,302	$	1,275,954
Processing	41,569		733,053		156,383		8,584		939,589
Total Revenue	690,738		817,708		618,211		88,886		2,215,543

Cost of Revenue	287,349		442,084		256,007		314,037		1,299,477
Research and Development									148,256
Selling, General, and Administrative									278,419

Total Expenses									1,726,152

SEGMENT INCOME	$	403,389	$	375,624	$	362,204	$	(225,151)

OPERATING INCOME									489,391

INTEREST INCOME (EXPENSE)									8,628

INCOME BEFORE INCOME TAXES									$	498,019


	Year Ended
	June 30, 2023
	Core		Payments		Complementary		Corporate and Other		Total
REVENUE
Services and Support	$	608,517	$	79,788	$	453,541	$	72,855	$	1,214,701
Processing	40,528		687,521		130,045		4,907		863,001
Total Revenue	649,045		767,309		583,586		77,762		2,077,702

Cost of Revenue	276,818		420,880		237,758		283,606		1,219,062
Research and Development									142,678
Selling, General, and Administrative									235,274

Total Expenses									1,597,014

SEGMENT INCOME	$	372,227	$	346,429	$	345,828	$	(205,844)

OPERATING INCOME									480,688

INTEREST INCOME (EXPENSE)									(6,114)

INCOME BEFORE INCOME TAXES									$	474,574


	Year Ended
	June 30, 2022
	Core		Payments		Complementary		Corporate and Other		Total
REVENUE
Services and Support	$	583,752	$	83,810	$	434,159	$	54,644	$	1,156,365
Processing	38,690		635,258		110,085		2,486		786,519
Total Revenue	622,442		719,068		544,244		57,130		1,942,884

Cost of Revenue	261,585		386,409		226,229		254,391		1,128,614
Research and Development									121,355
Selling, General, and Administrative									218,296

Total Expenses									1,468,265

SEGMENT INCOME	$	360,857	$	332,659	$	318,015	$	(197,261)

OPERATING INCOME									474,619

INTEREST INCOME (EXPENSE)									(2,352)

INCOME BEFORE INCOME TAXES									$	472,267

Industry and Supplier Concentrations (Text Block)	12 Months Ended
Industry and Supplier Concentrations (Text Block)	Jun. 30, 2024
Risks and Uncertainties [Abstract]
Industry and Supplier Concentrations [Text Block]	INDUSTRY AND SUPPLIER CONCENTRATION The Company sells its products to banks, credit unions, and financial institutions throughout the United States and generally does not require collateral. Billings to clients are typically due 30 days from date of billing. Reserves are maintained for potential credit losses. Client-related risks are moderated through the inclusion of credit mitigation clauses in the Company's contracts and through the monitoring of timely payments. In addition, some of the Company’s key solutions are dependent on technology manufactured by third parties. Termination of the Company’s relationship with one or more of these third parties could have a negative impact on the operations of the Company.

Employee Benefit Plans (Text Block)	12 Months Ended
Employee Benefit Plans (Text Block)	Jun. 30, 2024
Retirement Benefits [Abstract]
Employee Stock Purchase Plan and 401(k) Disclosure [Text Block]	EMPLOYEE BENEFIT PLANS The Company established an employee stock purchase plan (the "Plan") in 2006. On January 1, 2024, the Plan was amended and restated, and allows substantially all associates the opportunity to directly purchase shares of the Company at 85% of the lesser of the fair market value, as defined by the Plan, of the Company's stock on the first trading day or on the last trading day of a three-month offering period, which represents an option. Prior to January 1, 2024, the Plan allowed substantially all associates the opportunity to directly purchase shares of the Company at 85% of the closing price of the Company's stock on or around the fifteenth day of each month. During the fiscal years ended June 30, 2024, 2023, and 2022, associates purchased 90, 84, and 80 shares under this plan at average prices of $137.78, $146.79, and $147.36, respectively. As of June 30, 2024, approximately 896 shares remained available for future issuance under the Plan. The Plan is considered compensatory, and beginning January 1, 2024, compensation expense is determined based on the option's grant date fair value as estimated by applying the Black-Scholes option-pricing model and is recognized over the offering period. Prior to January 1, 2024, the Company recorded the total dollar value of the stock discount given to associates under the plan as expense. The Company has a defined contribution plan for its associates: the 401(k) Retirement Savings Plan (the “Plan”). The Plan is subject to the Employee Retirement Income Security Act of 1975 (“ERISA”) as amended. Under the Plan, the Company matches 100% of full-time associate contributions up to 5% of eligible compensation. In order to receive matching contributions, associates must be 18 years of age and be employed for at least six months. The Company has the option of making a discretionary contribution; however, none has been made for any of the three most recent fiscal years. The total matching contributions for the Plan were $31,995, $29,308, and $28,259 for the fiscal years ended June 30, 2024, 2023, and 2022, respectively.

Property and Equipment (Tables)

12 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment [Table Text Block]

The classification of property and equipment, together with their estimated useful lives is as follows:


	June 30,
	2024		2023		Estimated Useful Life
Land	$	16,357	$	16,581
Land improvements	24,322		24,251		5 - 20 years
Buildings	133,835		129,991		20 - 30 years
Leasehold improvements	51,432		51,125		5 - 30 years	(1)
Equipment and furniture	418,853		394,507		3 - 10 years
Aircraft and equipment	44,140		41,400		4 - 10 years
Construction in progress	12,298		14,208
Finance lease right-of-use asset (2)	—		312
	701,237		672,375
Less accumulated depreciation	486,168		466,711
Property and equipment, net	$	215,069	$	205,664

(1) Lesser of lease term or estimated useful life

(2) Fully depreciated at June 30, 2023.

Leases (Policies)	12 Months Ended
Leases (Policies)	Jun. 30, 2024
Leases [Abstract]
Lessee, Leases [Policy Text Block]	The Company determines if an arrangement is a lease, or contains a lease, at inception. The lease term begins on the commencement date, which is the date the Company takes possession of the property and may include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. The lease term is used to determine lease classification as an operating or finance lease and is used to calculate straight-line expense for operating leases. Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. As a practical expedient, lease agreements with lease and non-lease components are accounted for as a single lease component for all asset classes, which are comprised of real estate leases and equipment leases. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. ROU assets also include prepaid lease payments and exclude lease incentives received. The Company estimates contingent lease incentives when it is probable that the Company is entitled to the incentive at lease commencement. Since the Company’s leases do not typically provide an implicit rate, the Company uses its incremental borrowing rate based upon the information available at commencement date for both real estate and equipment leases. The determination of the incremental borrowing rate requires judgment. The Company determines the incremental borrowing rate using the Company’s current unsecured borrowing rate, adjusted for various factors such as collateralization and term to align with the terms of the lease. The Company elected the short-term lease recognition exemption for all leases that qualify. Therefore, leases with an initial term of 12 months or less are not recorded on the balance sheet; instead, lease payments are recognized as lease expense on a straight-line basis over the lease term. The Company leases certain office space, data centers and equipment. The Company’s leases have remaining terms of 3 months to 9 years. Certain leases contain renewal options for varying periods, which are at the Company’s sole discretion. For leases where the Company is reasonably certain to exercise a renewal option, such option periods have been included in the determination of the Company’s ROU assets and lease liabilities. Certain leases require the Company to pay taxes, insurance, maintenance, and other operating expenses associated with the leased asset. Such amounts are not included in the measurement of the lease liability to the extent they are variable in nature. These variable lease costs are recognized as a variable lease expense when incurred. Certain leases include options to purchase the leased asset at the end of the lease term, which is assessed as a part of the Company’s lease classification determination. The depreciable life of the ROU asset and leasehold improvements are limited by the expected lease term unless the Company is reasonably certain of a transfer of title or purchase option.

Debt Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Debt Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	May 16, 2023
Debt Instrument [Line Items]
Long-term debt, current maturities	$ 90,000	$ 0
Long-term debt	60,000	275,000
Interest Paid, Including Capitalized Interest, Operating and Investing Activities	15,757	14,776	$ 1,788
Unsecured Debt [Member]
Debt Instrument [Line Items]
Unsecured Loan, Unused Borrowing Capacity	$ 5,000
Unsecured Loan, Maturity Date	Apr. 30, 2025
Unsecured Loan, Amount Outstanding	$ 0	0
Revolving credit facility [Member] \| Credit facilities [Member]
Debt Instrument [Line Items]
Long-term debt	60,000	95,000
Revolving Credit Facility, Current Borrowing Capacity	600,000
Revolving Credit Facility, Maximum Borrowing Capacity	$ 1,000,000
Credit Facility, Expiration Date	Aug. 31, 2027
Term loan facility \| Credit facilities [Member]
Debt Instrument [Line Items]
Long-term debt, current maturities	$ 90,000
Long-term debt		$ 180,000
Credit Facility, Expiration Date	May 16, 2025
Debt Instrument, Face Amount				$ 180,000
Fed Funds Effective Rate Overnight Index Swap Rate [Member] \| Revolving credit facility [Member] \| Credit facilities [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	0.50%
Fed Funds Effective Rate Overnight Index Swap Rate [Member] \| Term loan facility \| Credit facilities [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	0.50%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Revolving credit facility [Member] \| Credit facilities [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.00%
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Term loan facility \| Credit facilities [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	0.75%
Prime Rate [Member] \| Unsecured Debt [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.00%

Revenue and Deferred Costs Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue recognized from beginning deferred balance	$ 270,241	$ 267,978	$ 270,972
Future revenue related to unsatisfied performance obligations	$ 6,810,946
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future revenue related to unsatisfied performance obligations, expected percent to be recognized for given time frame	25.00%
Future revenue related to unsatisfied performance obligations, expected timing	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Future revenue related to unsatisfied performance obligations, expected percent to be recognized for given time frame	19.00%
Future revenue related to unsatisfied performance obligations, expected timing	12 months

Nature of Operations and Summary of Significant Accounting Policies Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses - beginning balance	$ 7,955	$ 7,616
Current provision for expected credit losses	1,920	1,800
Write-offs charged against allowance	(2,209)	(1,458)
Recoveries of amounts previously written off	0	(1)
Other	(189)	(2)
Allowance for credit losses - ending balance	$ 7,477	$ 7,955

Other Assets Future Amortization Expense (Details) $ in Thousands	Jun. 30, 2024 USD ($)
2025	$ 146,657
2026	123,817
2027	98,821
2028	70,549
2029	46,485
Computer Software [Member]
2025	131,962
2026	110,330
2027	86,947
2028	61,414
2029	37,707
Customer Relationships [Member]
2025	8,317
2026	7,952
2027	7,858
2028	7,821
2029	7,776
Other Intangible Assets [Member]
2025	6,378
2026	5,535
2027	4,016
2028	1,314
2029	$ 1,002

Organization, Consolidation and Presentation of Financial Statements (Tables)

12 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Accounts Receivable, Allowance for Credit Loss

The following table summarizes allowance for credit losses activity for the years ended June 30, 2024, and 2023:


	Year Ended June 30,
	2024		2023
Allowance for credit losses - beginning balance	$	7,955	$	7,616

Current provision for expected credit losses	1,920		1,800
Write-offs charged against allowance	(2,209)		(1,458)
Recoveries of amounts previously written off	—		(1)
Other	(189)		(2)
Allowance for credit losses - ending balance	$	7,477	$	7,955

Other Assets Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
Other Assets Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 804,797
Goodwill, acquired during the year	0
Goodwill, ending balance	804,797	$ 804,797
Core Segment [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	195,578	195,578
Goodwill, acquired during the year	0	0
Goodwill, adjustments related to dispositions	0	0
Goodwill, ending balance	195,578	195,578
Payments [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	442,665	325,326
Goodwill, acquired during the year	0	117,339
Goodwill, adjustments related to dispositions	0	0
Goodwill, ending balance	442,665	442,665
Complementary [Member]
Goodwill [Roll Forward]
Goodwill, beginning balance	166,554	166,554
Goodwill, acquired during the year	0	0
Goodwill, adjustments related to dispositions	0	0
Goodwill, ending balance	$ 166,554	$ 166,554

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 10
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-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
-Section 45
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

+ Details

Leases (Tables)

12 Months Ended

Jun. 30, 2024

Leases [Abstract]

Maturity of Lease Liabilities Under ASC 842 [Table Text Block]

Maturity of Lease Liabilities under ASC 842

Future minimum rental payments on operating leases with initial non-cancellable lease terms in excess of one year were due as follows at June 30, 2024:


Due dates	Future Minimum Rental Payments

2025	$	10,377
2026	10,970
2027	10,455
2028	10,106
2029	7,548
Thereafter	17,667
Total lease payments	$	67,123
Less: interest	(7,519)
Present value of lease liabilities - lessee	$	59,604

Lessor, Operating Lease, Payment to be Received, Maturity

Minimum Sublease Payments

At June 30, 2024, the future total minimum sublease payments to be received were as follows:


Due Dates (fiscal year)	Future Minimum Sublease Receipts

2025	$	873
2026	831
2027	856
2028	882

Total sublease receipts - lessor	$	3,442

Employee Benefits Plans Employee Stock Purchase Plan (Details) - Employee Stock Purchase Plan [Member] - $ / shares shares in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Employee Stock Purchase Plan, Purchase Price of Common Stock, Percent of Closing Price	85.00%	85.00%	85.00%
Shares issued for Employee Stock Purchase Plan (shares)	90	84	80
Employee stock purchase plan, average price per share	$ 137.78	$ 146.79	$ 147.36
Common Stock, Capital Shares Reserved for Future Issuance	896

Stock Based Compensation (Tables)

12 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

The following table summarizes non-vested restricted stock unit awards and performance unit awards as of June 30, 2024, as well as activity for the fiscal year then ended:


Unit awards	Shares	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding July 1, 2021	294	$	160.22
Granted1	135	178.60
Vested	(71)	145.50
Forfeited2	(55)	189.33
Outstanding July 1, 2022	303	166.50
Granted1	136	214.78
Vested	(120)	159.10
Forfeited2	(16)	186.35
Outstanding July 1, 2023	303	190.08
Granted1	160	177.95
Vested	(99)	170.25
Forfeited2	(39)	194.11
Outstanding June 30, 2024	325	$	189.68	$	53,953

1Granted includes restricted stock unit awards and performance unit awards with market conditions at 100% achievement.

2Forfeited includes restricted stock unit awards and performance unit awards forfeited for service requirements not met and performance unit awards not settled due to underachievement of performance measures.

ScheduleOfShareBasedPaymentAwardRSUValuationAssumptionsTableTextBlock [Table Text Block]

The Monte Carlo inputs used in the model to estimate fair value at the measurement date and resulting values for these performance unit awards are as follows:


	Year Ended June 30,
Monte Carlo award inputs:	2024			2023			2022
Compensation Peer Group:1
Volatility	25.6		%	29.4		%	28.6		%
Risk free interest rate	4.48		%	2.96		%	0.32		%
Annual dividend based on most recent quarterly dividend	$	2.08		$	1.96		$	1.84
Dividend yield	1.2		%	0.9		%	1.1		%
Beginning average percentile rank for TSR	74		%	71		%	65		%

1For fiscal 2023 and 2022, S&P 1500 S&S Index participants were included in the compensation peer group.

Revenue from Contract with Customer (Tables)

12 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The tables below present the Company's revenue disaggregated by type of revenue. Refer to Note 14 – Reportable Segment Information for disaggregated revenue by type and reportable segment. The majority of the Company’s revenue is earned domestically, with revenue from clients outside the United States comprising less than 1% of total revenue.


	Year Ended June 30,
	2024		2023		2022
Private and Public Cloud	$	682,146	$	618,850	$	561,500
Product Delivery and Services	238,723		245,687		250,843
On-Premise Support	355,085		350,164		344,022
Services and Support	1,275,954		1,214,701		1,156,365

Processing	939,589		863,001		786,519

Total Revenue	$	2,215,543	$	2,077,702	$	1,942,884

Contract Balances

The following table provides information about contract assets and contract liabilities from contracts with clients.


	June 30, 2024		June 30, 2023
Receivables, net	$	333,033	$	361,252
Contract Assets - Current	33,610		26,711
Contract Assets - Non-current	103,295		81,561
Contract Liabilities (Deferred Revenue) - Current	317,730		331,974
Contract Liabilities (Deferred Revenue) - Non-current	71,202		67,755

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Fair Value Measures and Disclosures (Policies)	12 Months Ended
Fair Value Measures and Disclosures (Policies)	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments, Policy [Policy Text Block]	For cash equivalents, certificates of deposit, amounts receivable or payable, and short-term borrowings, fair values approximate carrying value, based on the short-term nature of the assets and liabilities. The Company's estimates of the fair value for financial assets and financial liabilities are based on the framework established in the fair value accounting guidance. The framework is based on the inputs used in valuation, gives the highest priority to quoted prices in active markets, and requires that observable inputs be used in the valuations when available. The three levels of the hierarchy are as follows: Level 1: inputs to the valuation are quoted prices in an active market for identical assets. Level 2: inputs to the valuation include quoted prices for similar assets in active markets that are observable either directly or indirectly. Level 3: valuation is based on significant inputs that are unobservable in the market and the Company's own estimates of assumptions that we believe market participants would use in pricing the asset.

Nature of Operations and Summary of Significant Accounting Policies (Text Block)

12 Months Ended

Jun. 30, 2024

Nature of Operations and Summary of Significant Accounting Policies [Abstract]

Nature of Operations and Summary of Significant Accounting Policies [Text Block]

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

DESCRIPTION OF THE COMPANY

Jack Henry & Associates, Inc. and subsidiaries ("Jack Henry" or the "Company") is a well-rounded financial technology company. Jack Henry was founded in 1976 as a provider of core processing solutions for banks. Today, the Company’s extensive array of products and services includes processing transactions, automating business processes, and managing information for approximately 7,500 financial institutions and diverse corporate entities.

CONSOLIDATION

The consolidated financial statements include the accounts of Jack Henry and all its subsidiaries, which are wholly owned, and all intercompany accounts and transactions have been eliminated.

USE OF ESTIMATES

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

REVENUE RECOGNITION

The Company generates "Services and Support" revenue through software licensing and related services, private cloud core and complementary software solutions, professional services, and hardware sales. The Company generates "Processing" revenue through processing of remittance transactions, card transactions and monthly fees, and digital transactions.

Identification of performance obligations

The Company enters into contracts with clients that may include multiple types of goods and services. At contract inception, the Company assesses the solutions and services promised in its contracts with clients and identifies a performance obligation for each promise to transfer to the client a solution or service (or bundle of solutions or services) that is distinct - that is, if the solution or service is separately identifiable from other items in the arrangement and if the client can benefit from the solution or service on its own or together with other resources that are readily available. Judgment is used in the identification and accounting for all performance obligations.

Determination of transaction price

The amount of revenue recognized is based on the consideration the Company expects to receive in exchange for transferring goods and services to the client. The Company’s contracts with its clients frequently contain some component of variable consideration. The Company estimates variable consideration in its contracts primarily using the expected value method, based on both historical and current information. Where appropriate, the Company may constrain the estimated variable consideration included in the transaction price in the event of a high degree of uncertainty as to the final consideration amount. Significant judgment is used in the estimate of variable consideration of client contracts that are long-term and include varying transactional volumes.

Allocation of transaction price

The transaction price, once determined, is allocated between the various performance obligations in the contract based upon their relative standalone selling prices. The standalone selling prices are determined based on the prices at which the Company separately sells each good or service. For items that are not sold separately, the Company estimates the standalone selling prices using all information that is reasonably available, including reference to historical pricing data.

COMPUTER SOFTWARE DEVELOPMENT

The Company capitalizes new product development costs incurred for software to be sold from the point at which technological feasibility has been established through the point at which the product is ready for general availability. Software development costs that are capitalized are evaluated on a product-by-product basis annually for impairment and are assigned an estimated economic life based on the type of product, market characteristics, and maturity of the market for that particular product. These costs are amortized based on current and estimated future revenue from the product or on a straight-line basis, whichever yields greater amortization expense. All of this amortization expense is included within components of operating income, primarily cost of revenue.

The Company capitalizes development costs for internal use software beginning at the start of application development. Amortization begins on the date the software is placed in service and the amortization period is based on estimated useful life.

CASH EQUIVALENTS

The Company considers all highly liquid investments with maturities of three months or less at the time of acquisition to be cash equivalents.

ACCOUNTS RECEIVABLE

Receivables are recorded at the time of billing. The Company monitors trade and other receivable balances and contract assets and estimates the allowance for lifetime expected credit losses. Estimates of expected credit losses are based on historical collection experience and other factors, including those related to current market conditions and events.

The following table summarizes allowance for credit losses activity for the years ended June 30, 2024, and 2023:


	Year Ended June 30,
	2024		2023
Allowance for credit losses - beginning balance	$	7,955	$	7,616

Current provision for expected credit losses	1,920		1,800
Write-offs charged against allowance	(2,209)		(1,458)
Recoveries of amounts previously written off	—		(1)
Other	(189)		(2)
Allowance for credit losses - ending balance	$	7,477	$	7,955

PROPERTY AND EQUIPMENT AND INTANGIBLE ASSETS

Property and equipment is stated at cost and depreciated using the straight-line method over the estimated useful lives of the assets.

Intangible assets consist of goodwill, customer relationships, computer software, and trade names acquired in business acquisitions in addition to internally developed computer software. The amounts are amortized, with the exception of those with an indefinite life (goodwill), over an estimated economic benefit period, generally three to twenty years.

The Company reviews its long-lived assets and identifiable intangible assets with finite lives for impairment whenever events or changes in circumstances have indicated that it is more likely than not that the carrying amount of its assets might not be recoverable. The Company evaluates goodwill for impairment of value on an annual basis as of January 1 and between annual tests if events or changes in circumstances indicate that it is more likely than not that the asset might be impaired.

PURCHASE OF INVESTMENTS

At June 30, 2024, and 2023, the Company had $25,750 and $18,250, respectively, in non-current investments. These investments were recorded at cost and are included within other non-current assets on the Company's balance sheet. The fair values of these investments have not been estimated, as estimation is not practicable due to limited investors which reduces available comparative information. There have been no events or changes in circumstances that would indicate an impairment and no price changes resulting from observing similar or identical investments. An impairment and/or an observable price change would be an adjustment to recorded cost. Fair values will not be estimated unless there are identified events or changes in circumstances that may have a significant adverse effect on the fair values of the investments. Equity transactions are monitored quarterly to assess whether there are indicators that fair value may be below carrying value.

COMPREHENSIVE INCOME

Comprehensive income for each of the fiscal years ending June 30, 2024, 2023, and 2022, equals the Company’s net income.

REPORTABLE SEGMENT INFORMATION

In accordance with U.S. GAAP, the Company's operations are classified as four reportable segments: Core, Payments, Complementary, and Corporate and Other (see Note 14). Substantially all the Company’s revenues are derived from operations and assets located within the United States of America.

COMMON STOCK

The Board of Directors has authorized the Company to repurchase shares of its common stock. Under this authorization, the Company may finance its share repurchases with available cash reserves or short-term borrowings on its existing credit facilities. The share repurchase program does not include specific price targets or timetables and may be suspended at any time. At June 30, 2024, there were 31,373 shares in treasury stock and the Company had the remaining authority to repurchase up to 3,618 additional shares of its common stock. The total cost of treasury shares at June 30, 2024, was $1,860,173. During fiscal 2024, the Company repurchased 179 shares of its common stock for $28,055 to be held in treasury. At June 30, 2023, there were 31,194 shares in treasury stock and the Company had authority to repurchase up to 3,796 additional shares of its common stock.

EARNINGS PER SHARE

Per share information is based on the weighted average number of common shares outstanding during the year. Stock options and restricted stock have been included in the calculation of income per diluted share to the extent they are dilutive. The difference between basic and diluted weighted average shares outstanding is the dilutive effect of outstanding stock options and restricted stock (see Note 11).

INCOME TAXES

Deferred tax liabilities and assets are recognized for the tax effects of differences between the financial statement and tax bases of assets and liabilities. A valuation allowance would be established to reduce deferred tax assets if it is more likely than not that a deferred tax asset will not be realized.

The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based upon the technical merits of the position. The tax benefit recognized in the financial statements from such a position is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Also, interest and penalties expense are recognized on the full amount of unrecognized benefits for uncertain tax positions. The Company's policy is to include interest and penalties related to unrecognized tax benefits in income tax expense.

Recent Accounting Pronouncements

RECENT ACCOUNTING PRONOUNCEMENTS

Recently Adopted Accounting Guidance

In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which improves the accounting for acquired revenue contracts with customers in a business combination by addressing diversity in practice and inconsistency related to recognition of an acquired contract liability and payment terms and their effect on subsequent revenue recognized by the acquirer. The ASU is effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. The Company adopted the ASU effective July 1, 2023, and will apply it prospectively to business combinations occurring after that date.

Not Adopted at Fiscal Year End

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves the disclosures about a public entity's reportable segments through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances the transparency and decision usefulness of income tax disclosures. The ASU requires additional disclosure related to rate reconciliation, income taxes paid, and other disclosures to improve the effectiveness of income tax disclosures. The ASU is effective for annual periods beginning after December 15, 2024, and applied on a prospective basis. Early adoption and retrospective application is permitted. The Company is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 38,284	$ 12,243
Receivables, net	333,033	361,252
Income tax receivable	6,149	7,523
Prepaid expenses and other	168,768	169,178
Deferred costs	85,784	77,766
Total current assets	632,018	627,962
PROPERTY AND EQUIPMENT, net	215,069	205,664
OTHER ASSETS:
Non-current deferred costs	183,307	161,465
Computer software, net of amortization	592,761	565,714
Other non-current assets	417,621	322,698
Other intangible assets, net of amortization	22,151	19,998
Goodwill	804,797	804,797
Total other assets	2,077,394	1,940,200
Total assets	2,924,481	2,773,826
CURRENT LIABILITIES:
Accounts payable	25,314	19,156
Accrued expenses	200,770	172,629
Long-term debt, current maturities	90,000	0
Deferred revenues	317,730	331,974
Total current liabilities	633,814	523,759
LONG-TERM LIABILITIES:
Non-current deferred revenues	71,202	67,755
Deferred income tax liability	243,522	244,431
Debt, net of current maturities	60,000	275,000
Other long-term liabilities	73,579	54,371
Total long-term liabilities	448,303	641,557
Total liabilities	$ 1,082,117	$ 1,165,316
STOCKHOLDERS' EQUITY
Preferred stock, par value	$ 1	$ 1
Preferred stock, authorized shares	500,000	500,000
Preferred stock, issued shares	0	0
Preferred stock - $1 par value; 500,000 shares authorized, none issued	$ 0	$ 0
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized shares	250,000,000	250,000,000
Common stock, issued shares	104,245,089	104,088,784
Common stock - $0.01 par value; 250,000,000 shares authorized; 104,245,089 shares issued at June 30, 2024; 104,088,784 shares issued at June 30, 2023	$ 1,042	$ 1,041
Additional paid-in capital	619,805	583,836
Retained earnings	$ 3,081,690	$ 2,855,751
Treasury stock, common, shares	31,372,959	31,194,351
Less treasury stock at cost; 31,372,959 shares at June 30, 2024; 31,194,351 shares at June 30, 2023	$ (1,860,173)	$ (1,832,118)
Total stockholders' equity	1,842,364	1,608,510
Total liabilities and equity	2,924,481	2,773,826
Customer Relationships [Member]
OTHER ASSETS:
Customer relationships, net of amortization	$ 56,757	$ 65,528

Reportable Segment Information (Text Block)

12 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Reportable Segment Information [Text Block]

REPORTABLE SEGMENT INFORMATION

The Company is a well-rounded financial technology company and is a leading provider of technology solutions and payment processing services primarily to community and regional financial institutions.

The Company’s operations are classified into four reportable segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions, which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer/member information. The Payments segment provides secure payment processing tools and services, including ATM, debit, and credit card processing services, online and mobile bill pay solutions, ACH origination and remote deposit capture processing, and risk management products and services. The Complementary segment provides additional software, hosted processing platforms, and services, including digital/mobile banking, treasury services, online account opening, AML, and lending/deposit solutions that can be integrated with the Company's Core solutions, and many can be used independently. The Corporate and Other segment includes revenue and costs from hardware and other products not attributed to any of the other three segments, as well as operating expenses not directly attributable to the other three segments.

The Company evaluates the performance of its segments and allocates resources to them based on various factors, including performance against trend, budget, and forecast. Only revenue and costs of revenue are considered in the evaluation for each segment.

Immaterial adjustments between segments were made in fiscal 2024 to reclassify revenue and cost of revenue that was recognized in fiscal 2023. These reclasses were made to be consistent with the current allocation of revenue and cost of revenue by segment. Revenue reclassed for the fiscal year ended June 30, 2023, from Core to Corporate and Other was $7,119, from Payments to Corporate and Other was $30, and from Complementary to Corporate and Other was $307. Cost of revenue reclassed for the fiscal year ended June 30, 2023, from Core to Corporate and Other was $6,713, from Payments to Corporate and Other was $2,594, and from Complementary to Corporate and Other was $1,286.


	Year Ended
	June 30, 2024
	Core		Payments		Complementary		Corporate and Other		Total
REVENUE
Services and Support	$	649,169	$	84,655	$	461,828	$	80,302	$	1,275,954
Processing	41,569		733,053		156,383		8,584		939,589
Total Revenue	690,738		817,708		618,211		88,886		2,215,543

Cost of Revenue	287,349		442,084		256,007		314,037		1,299,477
Research and Development									148,256
Selling, General, and Administrative									278,419

Total Expenses									1,726,152

SEGMENT INCOME	$	403,389	$	375,624	$	362,204	$	(225,151)

OPERATING INCOME									489,391

INTEREST INCOME (EXPENSE)									8,628

INCOME BEFORE INCOME TAXES									$	498,019


	Year Ended
	June 30, 2023
	Core		Payments		Complementary		Corporate and Other		Total
REVENUE
Services and Support	$	608,517	$	79,788	$	453,541	$	72,855	$	1,214,701
Processing	40,528		687,521		130,045		4,907		863,001
Total Revenue	649,045		767,309		583,586		77,762		2,077,702

Cost of Revenue	276,818		420,880		237,758		283,606		1,219,062
Research and Development									142,678
Selling, General, and Administrative									235,274

Total Expenses									1,597,014

SEGMENT INCOME	$	372,227	$	346,429	$	345,828	$	(205,844)

OPERATING INCOME									480,688

INTEREST INCOME (EXPENSE)									(6,114)

INCOME BEFORE INCOME TAXES									$	474,574


	Year Ended
	June 30, 2022
	Core		Payments		Complementary		Corporate and Other		Total
REVENUE
Services and Support	$	583,752	$	83,810	$	434,159	$	54,644	$	1,156,365
Processing	38,690		635,258		110,085		2,486		786,519
Total Revenue	622,442		719,068		544,244		57,130		1,942,884

Cost of Revenue	261,585		386,409		226,229		254,391		1,128,614
Research and Development									121,355
Selling, General, and Administrative									218,296

Total Expenses									1,468,265

SEGMENT INCOME	$	360,857	$	332,659	$	318,015	$	(197,261)

OPERATING INCOME									474,619

INTEREST INCOME (EXPENSE)									(2,352)

INCOME BEFORE INCOME TAXES									$	472,267

The Company has not disclosed any additional asset information by segment, as the information is not generated for internal management reporting to the Chief Executive Officer, who is also the Chief Operating Decision Maker.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Stock Based Compensation (Text Block)

12 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation [Text Block]

STOCK-BASED COMPENSATION

The Company's pre-tax operating income for the fiscal years ended June 30, 2024, 2023, and 2022, includes $28,873, $28,611, and $24,780, respectively, of equity-based compensation costs, of which $26,361, $26,427, and $22,703, respectively, relates to the restricted stock plans. Costs are recorded net of estimated forfeitures. The total income tax benefits from equity-based compensation for the fiscal years ended June 30, 2024, 2023, and 2022, were $4,495, $5,115, and $4,252, respectively. These income tax benefits included income tax net shortfalls from stock option exercises and restricted stock vestings of $184 for the fiscal year ended June 30, 2024, and income tax net excess benefits from stock option exercises and restricted stock vestings of $1,109 and $652 for the fiscal years ended June 30, 2023, and 2022, respectively.

On November 10, 2015, the Company adopted the 2015 Equity Incentive Plan ("2015 EIP") for its associates and non-employee directors. The plan allows for grants of stock options, stock appreciation rights, restricted stock shares or units, and performance shares or units. The maximum number of shares authorized for issuance under the plan is 3,000.

Stock option awards

Under the 2015 EIP, terms and vesting periods of the stock options are determined by the Human Capital & Compensation Committee of the Board of Directors when granted. The options granted under this plan are

exercisable beginning three years after grant at an exercise price equal to 100% of the fair market value of the stock at the grant date. The options terminate upon surrender of the option, ninety days after termination of employment, upon the expiration of one year following notification of a deceased optionee, or 10 years after grant.

During fiscal 2024, there were no options granted, forfeited, or exercised, and at June 30, 2024, 12 options were outstanding at a weighted average exercise price of $87.27 with an aggregate intrinsic value of $920. During fiscal 2023, there were no options granted, forfeited, or exercised, and at June 30, 2023, 12 options were outstanding at a weighted average exercise price of $87.27. During fiscal 2022, there were no options granted or forfeited, and 10 options were exercised at a weighted average exercise price of $87.27 with a total exercise intrinsic value of $1,005. At June 30, 2022, 12 options were outstanding at a weighted average exercise price of $87.27. All remaining options were granted on July 1, 2016. At June 30, 2024, there was no compensation cost yet to be recognized related to outstanding options. All of the options are currently exercisable, with a weighted average remaining contractual term (remaining period of exercisability) of 2 years as of June 30, 2024.

Restricted stock unit and performance unit awards

With respect to awards of restricted stock units and performance units, it is the intention of the Company to settle the unit awards in shares of the Company’s stock. Restricted stock unit awards (which are unit awards that have service requirements only and are not tied to performance measures) generally vest over a period of 1 to 3 years. Performance unit awards are awards that have performance measures in addition to service requirements.

The following table summarizes non-vested restricted stock unit awards and performance unit awards as of June 30, 2024, as well as activity for the fiscal year then ended:


Unit awards	Shares	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding July 1, 2021	294	$	160.22
Granted1	135	178.60
Vested	(71)	145.50
Forfeited2	(55)	189.33
Outstanding July 1, 2022	303	166.50
Granted1	136	214.78
Vested	(120)	159.10
Forfeited2	(16)	186.35
Outstanding July 1, 2023	303	190.08
Granted1	160	177.95
Vested	(99)	170.25
Forfeited2	(39)	194.11
Outstanding June 30, 2024	325	$	189.68	$	53,953

1Granted includes restricted stock unit awards and performance unit awards with market conditions at 100% achievement.

Of the 160 unit awards granted in fiscal 2024, 97 were restricted stock unit awards and 63 were performance unit awards. The restricted stock unit awards were valued at the weighted average fair value of the non-vested units based on the fair market value of the Company’s equity shares on the grant date, less the present value of expected future dividends to be declared during the vesting period, consistent with the methodology for calculating compensation expense on such awards.

24 of the performance unit awards granted in fiscal 2024 were valued at grant by estimating 100% payout at release and using the fair market value of the Company equity shares on the grant date, less the present value of expected future dividends to be declared during the vesting period. The payout at release of approximately half of these performance unit awards will be determined based on the Company's compound annual growth rate ("CAGR") for revenue (excluding adjustments) for the three-year vesting period compared against goal thresholds as defined in the award agreement. The performance payout at release of the other half of these performance unit awards will be determined based on the expansion of the Company's non-GAAP operating margin over the three-year vesting period compared against goal thresholds as defined in the award agreement. 35 of the performance unit awards have market conditions and were valued at grant using a Monte Carlo pricing model as of the measurement date

customized to the specific provisions of the Company’s plan design. The remaining 4 performance unit awards had other performance targets. Per the Company's award vesting and settlement provisions, the performance unit awards that utilized a Monte Carlo pricing model were valued at grant on the basis of Total Shareholder Return ("TSR") in comparison to the compensation peer group made up of participants approved by the Human Capital & Compensation Committee of the Company's Board of Directors for fiscal year 2024. For fiscal years 2023 and 2022, TSR was in comparison to the compensation peer group comprised of the Standard & Poor's 1500 Software & Services Index ("S&P 1500 S&S Index") participant companies and other participants approved by the Human Capital & Compensation Committee of the Company's Board of Directors. TSR is defined as the change in the stock price through the performance period plus dividends per share paid during the performance period, all divided by the stock price at the beginning of the performance period.

The Monte Carlo inputs used in the model to estimate fair value at the measurement date and resulting values for these performance unit awards are as follows:


	Year Ended June 30,
Monte Carlo award inputs:	2024			2023			2022
Compensation Peer Group:1
Volatility	25.6		%	29.4		%	28.6		%
Risk free interest rate	4.48		%	2.96		%	0.32		%
Annual dividend based on most recent quarterly dividend	$	2.08		$	1.96		$	1.84
Dividend yield	1.2		%	0.9		%	1.1		%
Beginning average percentile rank for TSR	74		%	71		%	65		%

1For fiscal 2023 and 2022, S&P 1500 S&S Index participants were included in the compensation peer group.

At June 30, 2024, there was $21,655 of compensation expense that has yet to be recognized related to non-vested restricted stock unit and performance stock unit awards, which will be recognized over a weighted-average remaining contractual term of 1.02 years.

The fair values of restricted stock units and performance units at release totaled $16,544, $24,931, and $12,139 for the fiscal years ended June 30, 2024, 2023, and 2022, respectively.

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
REVENUE
REVENUE	$ 2,215,543	$ 2,077,702	$ 1,942,884
EXPENSES
Cost of Revenue	1,299,477	1,219,062	1,128,614
Research and Development	148,256	142,678	121,355
Selling, General, and Administrative	278,419	235,274	218,296
Total Expenses	1,726,152	1,597,014	1,468,265
OPERATING INCOME	489,391	480,688	474,619
Interest Income, Operating	25,012	8,959	32
Interest Expense, Operating	16,384	15,073	2,384
INTEREST INCOME (EXPENSE)
TOTAL INTEREST INCOME (EXPENSE)	8,628	(6,114)	(2,352)
INCOME BEFORE INCOME TAXES	498,019	474,574	472,267
PROVISION FOR INCOME TAXES	116,203	107,928	109,351
NET INCOME	$ 381,816	$ 366,646	$ 362,916
Earnings Per Share
Basic earnings per share	$ 5.24	$ 5.03	$ 4.95
Weighted average shares outstanding for basic earnings per share	72,867	72,918	73,324
Diluted earnings per share	$ 5.23	$ 5.02	$ 4.94
Weighted average shares outstanding for diluted earnings per share	73,025	73,096	73,486

Other Assets Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Capitalized Computer Software, Net	$ 592,761	$ 565,714
Amortization	153,562	142,006	$ 126,835
Impairment of Intangible Assets (Excluding Goodwill)	0	0	0
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	306,036	306,036
Finite-Lived Intangible Assets, Accumulated Amortization	249,279	240,508
Finite-Lived Intangible Assets, Net of Amortization	56,757	65,528
Computer Software [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	1,533,622	1,386,291
Finite-Lived Intangible Assets, Accumulated Amortization	940,861	820,577
Finite-Lived Intangible Assets, Net of Amortization	592,761	565,714
Amortization	137,958	123,210	$ 105,036
Other Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	111,510	108,826
Finite-Lived Intangible Assets, Accumulated Amortization	89,359	88,828
Finite-Lived Intangible Assets, Net of Amortization	22,151	19,998
Computer Software to be Sold, Leased, or Marketed [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Capitalized Computer Software, Net	178,588	171,310
Internal Use Computer Software [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Capitalized Computer Software, Net	$ 414,173	$ 394,404
Minimum [Member] \| Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years
Minimum [Member] \| Computer Software [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years
Minimum [Member] \| Other Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	3 years
Maximum [Member] \| Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years
Maximum [Member] \| Computer Software [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	15 years
Maximum [Member] \| Other Intangible Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years

Income Taxes Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
Computed expected tax expense	21.00%	21.00%	21.00%
Deferred Tax Assets, Valuation Allowance	$ 108	$ 125
Income Taxes Paid	106,966	145,862	$ 60,553
Unrecognized Tax Benefits	19,077	12,005	8,990	$ 8,762
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	17,222	10,453
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	3,351	1,872
Income Tax penalties and interest expense (or benefits) included in income tax provision	1,132	$ 529	$ 73
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	110
Tax Credit Carryforward, Amount	2,045
Minimum [Member]
Expiration of statutes of limitations impact on UTB balance	3,000
Maximum [Member]
Expiration of statutes of limitations impact on UTB balance	$ 7,000

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Lessee, Lease, Description [Line Items]
Operating Lease, Right-of-Use Asset	$ 53,981	$ 43,662
Present value of lease liabilities - lessee	59,604	50,269
Operating Lease, Liability, Current	8,454	9,776
Operating Lease, Liability, Noncurrent	51,150	40,493
Accumulated Amortization Operating Lease Right-of-use asset	34,306	34,973
Operating Lease, Cost	10,598	11,870	$ 13,058
Variable Lease, Cost	4,087	3,608	2,325
Operating Lease, Payments	9,306	12,127	13,082
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 19,222	$ 2,368	$ 2,407
Operating Lease, Weighted Average Remaining Lease Term	78 months	78 months	76 months
Operating Lease, Weighted Average Discount Rate, Percent	2.70%	2.14%	2.58%
Operating Lease Liability Option to Extend Amounts	$ 5,464
Lessee, Lease Not Yet Commenced, Future Minimum Payments Due	$ 0
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses	Accrued expenses
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other non-current assets	Other non-current assets
Elizabethtown, KY Sublease
Lessee, Lease, Description [Line Items]
Lessor, Operating Lease, Term of Contract	57 months
Sublease Income	$ 550
Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms	3 months
Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease terms	9 years

Debt (Text Block)	12 Months Ended
Debt (Text Block)	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt [Text Block]	DEBT The Company had $90,000 outstanding current maturities of long-term debt and $60,000 outstanding long-term debt at June 30, 2024, related to credit facilities. The Company had no outstanding current maturities of long-term debt and $275,000 outstanding long-term debt at June 30, 2023. Credit facilities On August 31, 2022, the Company entered into a five-year senior, unsecured amended and restated credit agreement that replaced a prior credit facility that was entered into on February 10, 2020. The credit agreement allows for borrowings of up to $600,000, which may be increased to $1,000,000 by the Company at any time until maturity. The credit agreement bears interest at a variable rate equal to (a) a rate based on an adjusted Secured Overnight Financing Rate ("SOFR") term rate or (b) an alternate base rate (the highest of (i) 0%, (ii) the Prime Rate for such day, (iii) the sum of the Federal Funds Effective Rate for such day plus 0.50% per annum and (iv) the Adjusted Term SOFR Screen Rate (without giving effect to the Applicable Margin) for a one month Interest Period on such day for Dollars plus 1.0%), plus an applicable percentage in each case determined by the Company's leverage ratio. The credit agreement is guaranteed by certain subsidiaries of the Company and is subject to various financial covenants that require the Company to maintain certain financial ratios as defined in the credit agreement. As of June 30, 2024, the Company was in compliance with all such covenants. The amended and restated credit facility terminates August 31, 2027. There was $60,000 and $95,000 outstanding under the amended and restated credit facility at June 30, 2024, and June 30, 2023, respectively. Term loan facility On May 16, 2023, the Company entered into a term loan credit agreement with a syndicate of financial institutions, with an original principal balance of $180,000. Borrowings under the term loan facility bear interest at a variable rate equal to (a) a rate based on an adjusted SOFR term rate or (b) an alternate base rate (the highest of (i) 0%, (ii) the Prime Rate for such day, (iii) the sum of the Federal Funds Effective Rate for such day plus 0.50% per annum and (iv) the Adjusted Term SOFR Screen Rate (without giving effect to the Applicable Margin) for a one month Interest Period on such day for Dollars plus 0.75%), plus an applicable percentage in each case determined by the Company's leverage ratio. The term loan credit agreement is guaranteed by certain subsidiaries of the Company and is subject to various financial covenants that require the Company to maintain certain financial ratios as defined in the term loan credit agreement. As of June 30, 2024, the Company was in compliance with all such covenants. The term loan credit agreement has a maturity date of May 16, 2025. There was $90,000 and $180,000 outstanding under the term loan at June 30, 2024, and June 30, 2023, respectively. Other lines of credit The Company has an unsecured bank credit line which provides for funding of up to $5,000 and bears interest at the prime rate less 1.0%. The credit line was renewed in May 2019 and modified in May 2023 to extend the expiration to April 30, 2025. There was no balance outstanding at June 30, 2024, or 2023. Interest The Company paid interest of $15,757, $14,776, and $1,788 during the fiscal years ended June 30, 2024, 2023, and 2022, respectively.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Leases

12 Months Ended

Jun. 30, 2024

Leases [Abstract]

Lessee, Leases

LEASES

The Company determines if an arrangement is a lease, or contains a lease, at inception. The lease term begins on the commencement date, which is the date the Company takes possession of the property and may include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. The lease term is used to determine lease classification as an operating or finance lease and is used to calculate straight-line expense for operating leases.

Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. As a practical expedient, lease agreements with lease and non-lease components are accounted for as a single lease component for all asset classes, which are comprised of real estate leases and equipment leases. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. ROU assets also include prepaid lease payments and exclude lease incentives received. The Company

estimates contingent lease incentives when it is probable that the Company is entitled to the incentive at lease commencement. Since the Company’s leases do not typically provide an implicit rate, the Company uses its incremental borrowing rate based upon the information available at commencement date for both real estate and equipment leases. The determination of the incremental borrowing rate requires judgment. The Company determines the incremental borrowing rate using the Company’s current unsecured borrowing rate, adjusted for various factors such as collateralization and term to align with the terms of the lease. The Company elected the short-term lease recognition exemption for all leases that qualify. Therefore, leases with an initial term of 12 months or less are not recorded on the balance sheet; instead, lease payments are recognized as lease expense on a straight-line basis over the lease term.

The Company leases certain office space, data centers and equipment. The Company’s leases have remaining terms of 3 months to 9 years. Certain leases contain renewal options for varying periods, which are at the Company’s sole discretion. For leases where the Company is reasonably certain to exercise a renewal option, such option periods have been included in the determination of the Company’s ROU assets and lease liabilities. Certain leases require the Company to pay taxes, insurance, maintenance, and other operating expenses associated with the leased asset. Such amounts are not included in the measurement of the lease liability to the extent they are variable in nature. These variable lease costs are recognized as a variable lease expense when incurred. Certain leases include options to purchase the leased asset at the end of the lease term, which is assessed as a part of the Company’s lease classification determination. The depreciable life of the ROU asset and leasehold improvements are limited by the expected lease term unless the Company is reasonably certain of a transfer of title or purchase option.

At June 30, 2024, and 2023, the Company had operating lease assets of $53,981 and $43,662, respectively. At June 30, 2024, total operating lease liabilities of $59,604 were comprised of current operating lease liabilities of $8,454 and noncurrent operating lease liabilities of $51,150. At June 30, 2023, total operating lease liabilities of $50,269 were comprised of current operating lease liabilities of $9,776 and noncurrent operating lease liabilities of $40,493.

Operating lease assets are included within other non-current assets and operating lease liabilities are included with accrued expenses (current portion) and other long-term liabilities (noncurrent portion) in the Company’s consolidated balance sheet. Operating lease assets were recorded net of accumulated amortization of $34,306 and $34,973 as of June 30, 2024, and 2023, respectively.

Operating lease costs for the fiscal years ended June 30, 2024, 2023, and 2022, were $10,598, $11,870, and $13,058, respectively. Total operating lease costs for the fiscal years ended June 30, 2024, 2023, and 2022, included variable lease costs of approximately $4,087, $3,608, and $2,325, respectively. Operating lease expense is included within cost of services, research and development, and selling, general and administrative expense, dependent upon the nature and use of the ROU asset, in the Company’s consolidated statement of income.

For the fiscal years ended June 30, 2024, 2023, and 2022, operating cash flows for payments on operating leases were $9,306, $12,127, and $13,082, respectively, and ROU assets obtained in exchange for operating lease liabilities were $19,222, $2,368, and $2,407, respectively.

As of June 30, 2024, 2023, and 2022, the weighted-average remaining lease terms for the Company's operating leases were 78 months, 78 months, and 76 months, respectively, and the weighted-average discount rates were 2.70%, 2.14%, and 2.58%, respectively.

Maturity of Lease Liabilities under ASC 842

Future minimum rental payments on operating leases with initial non-cancellable lease terms in excess of one year were due as follows at June 30, 2024:


Due dates	Future Minimum Rental Payments

2025	$	10,377
2026	10,970
2027	10,455
2028	10,106
2029	7,548
Thereafter	17,667
Total lease payments	$	67,123
Less: interest	(7,519)
Present value of lease liabilities - lessee	$	59,604

Future lease payments include $5,464 related to options to extend lease terms that are reasonably certain of being exercised. At June 30, 2024, there were no material legally binding lease payments for leases signed but not yet commenced.

Lessor, Operating Leases

On September 30, 2023, the Company entered into an agreement with a third party to sublease a portion of its Elizabethtown, Kentucky facility. The commencement date of the sublease was October 1, 2023, and has a term of 57 months. Sublease income for the fiscal year ended June 30, 2024, was $550, and is included within revenue on the Company's condensed consolidated statements of income. There have been no indications of impairment related to the underlying right-of-use asset.

Minimum Sublease Payments

At June 30, 2024, the future total minimum sublease payments to be received were as follows:


Due Dates (fiscal year)	Future Minimum Sublease Receipts

2025	$	873
2026	831
2027	856
2028	882

Total sublease receipts - lessor	$	3,442

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
NET INCOME	$ 381,816	$ 366,646	$ 362,916

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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Reference 35: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 942
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-Name Accounting Standards Codification
-Section S99
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-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Revenue and Deferred Costs Contract Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Capitalized Contract Cost	$ 503,152	$ 442,012
Amortization of Deferred Contract Cost	$ 175,029	$ 154,008	$ 133,174

Leases Lease Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
2025	$ 10,377
2026	10,970
2027	10,455
2028	10,106
2029	7,548
Thereafter	17,667
Total lease payments	67,123
Less: interest	(7,519)
Present value of lease liabilities - lessee	59,604	$ 50,269
2025	873
2026	831
2027	856
2028	882
Total sublease receipts - lessor	$ 3,442

Revenue and Deferred Costs

12 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue and Deferred Costs

REVENUE AND DEFERRED COSTS

Revenue Recognition

The Company generates revenue from data processing, transaction processing, software licensing and related services, professional services, and hardware sales.

The Company recognizes revenue when or as it satisfies each performance obligation by transferring control of a solution or service to the client.

The following describes the nature of the Company’s primary types of revenue:

Processing

Processing revenue is generated from transaction-based fees for electronic deposit and payment services, electronic funds transfers and debit and credit card processing. The Company’s arrangements for these services typically require the Company to “stand-ready” to provide specific services on a when and if needed basis by processing an unspecified number of transactions over the contractual term. The fees for these services may be fixed or variable (based upon performing an unspecified quantity of services), and pricing may include tiered pricing structures. Amounts of revenue allocated to these services are recognized as those services are performed. Clients are typically billed monthly for transactions processed during the month. The Company evaluates tiered pricing to determine if a material right exists. If, after that evaluation, it determines a material right does exist, it assigns value to the material right based upon standalone selling price after estimation of breakage associated with the material right.

Private and public cloud

Private and public cloud revenue is generated from data and item processing services and hosting fees. The Company’s arrangements for these services typically require the Company to “stand-ready” to provide specific services on a when and if needed basis. The fees for these services may be fixed or variable (based upon performing an unspecified quantity of services), and pricing may include tiered pricing structures. Amounts of revenue allocated to these services are recognized as those services are performed. Data and item processing services are typically billed monthly. The Company evaluates tiered pricing to determine if a material right exists. If, after that evaluation, it determines a material right does exist, it assigns value to the material right based upon standalone selling price.

Product delivery and services

Product delivery and services revenue is generated primarily from software licensing and related professional services and hardware delivery. Software licenses, along with any professional services from which they are not considered distinct, are recognized as they are delivered to the client. Hardware revenue is recognized upon delivery. Professional services that are distinct are recognized as the services are performed. Deconversion fees are also included within product delivery and services and are considered a contract modification. Therefore, the Company recognizes these fees over the remaining modified contract term.

On-premise support

On-premise support revenue is generated from software maintenance for ongoing client support and software usage, which includes a license and ongoing client support. The Company’s arrangements for these services typically require the Company to “stand-ready” to provide specific services on a when and if needed basis. The fees for these services may be fixed or variable (based upon performing an unspecified quantity of services). Software maintenance fees are typically billed to the client annually in advance and recognized ratably over the maintenance term. Software usage is typically billed annually in advance, with the license delivered and recognized at the outset, and the maintenance fee recognized ratably over the maintenance term. Accordingly, the Company utilizes the practical expedient which allows entities to disregard the effects of a financing component when the contract period is one year or less.

Taxes collected from clients and remitted to governmental authorities are not included in revenue. The Company includes reimbursements from clients for expenses incurred in providing services (such as for postage, travel and telecommunications costs) in revenue, while the related costs are included in cost of revenue.

Disaggregation of Revenue


	Year Ended June 30,
	2024		2023		2022
Private and Public Cloud	$	682,146	$	618,850	$	561,500
Product Delivery and Services	238,723		245,687		250,843
On-Premise Support	355,085		350,164		344,022
Services and Support	1,275,954		1,214,701		1,156,365

Processing	939,589		863,001		786,519

Total Revenue	$	2,215,543	$	2,077,702	$	1,942,884

Contract Balances

The following table provides information about contract assets and contract liabilities from contracts with clients.


	June 30, 2024		June 30, 2023
Receivables, net	$	333,033	$	361,252
Contract Assets - Current	33,610		26,711
Contract Assets - Non-current	103,295		81,561
Contract Liabilities (Deferred Revenue) - Current	317,730		331,974
Contract Liabilities (Deferred Revenue) - Non-current	71,202		67,755

Contract assets primarily result from revenue being recognized when or as control of a solution or service is transferred to the client, but where invoicing is contingent upon the completion of other performance obligations or payment terms differ from the provisioning of services. The current portion of contract assets is reported within prepaid expenses and other in the consolidated balance sheet, and the non-current portion is included in other non-current assets. Contract liabilities (deferred revenue) primarily relate to consideration received from clients in advance of delivery of the related goods and services to the client. Contract balances are reported in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period.

The Company analyzes contract language to identify if a significant financing component does exist and would adjust the transaction price for any material effects of the time value of money if the timing of payments provides either party to the contract with a significant benefit of financing the transaction.

For the fiscal years ended June 30, 2024, 2023, and 2022, the Company recognized revenue of $270,241, $267,978, and $270,972, respectively, that was included in the corresponding deferred revenue balance at the beginning of the periods.

Amounts recognized that relate to performance obligations satisfied (or partially satisfied) in prior periods were immaterial for each period presented. These adjustments are primarily the result of transaction price re-allocations due to changes in estimates of variable consideration.

Transaction Price Allocated to Remaining Performance Obligations

As of June 30, 2024, estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period totaled $6,810,946. The Company expects to recognize approximately 25% over the next 12 months, 19% in 13 - 24 months, and the balance thereafter.

Contract Costs

The Company incurs incremental costs to obtain a contract as well as costs to fulfill contracts with clients that are expected to be recovered. These costs consist primarily of sales commissions, which are incurred only if a contract is obtained, and client conversion or implementation-related costs. Capitalized costs are amortized based on the transfer of goods or services to which the asset relates, in line with the percentage of revenue recognized for each performance obligation to which the costs are allocated.

Capitalized costs totaled $503,152 and $442,012, at June 30, 2024, and 2023, respectively.

During the fiscal years ended June 30, 2024, 2023, and 2022, amortization of deferred contract costs totaled $175,029, $154,008, and $133,174, respectively. There were no impairment losses in relation to capitalized costs for the periods presented.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

Other Assets (Tables)

12 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]

The carrying amount of goodwill for the fiscal years ended June 30, 2024, and 2023, by reportable segments, is as follows:


	June 30,
Core	2024		2023
Beginning balance	$	195,578	$	195,578
Goodwill, acquired during the year	—		—

Goodwill, adjustments related to dispositions	—		—
Ending balance	$	195,578	$	195,578

Payments
Beginning balance	$	442,665	$	325,326
Goodwill, acquired during the year	—		117,339
Goodwill, adjustments related to dispositions	—		—
Ending balance	$	442,665	$	442,665

Complementary
Beginning balance	$	166,554	$	166,554
Goodwill, acquired during the year	—		—

Goodwill, adjustments related to dispositions	—		—
Ending balance	$	166,554	$	166,554

Schedule of Intangible Assets [Table Text Block]

Information regarding other identifiable intangible assets is as follows:


	June 30, 2024
	Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	306,036	$	(249,279)	$	56,757
Computer software	$	1,533,622	$	(940,861)	$	592,761
Other intangible assets:	$	111,510	$	(89,359)	$	22,151

	June 30, 2023
	Gross Carrying Amount		Accumulated Amortization		Net
Customer relationships	$	306,036	$	(240,508)	$	65,528
Computer software	$	1,386,291	$	(820,577)	$	565,714
Other intangible assets:	$	108,826	$	(88,828)	$	19,998

Schedule of Future Amortization Expense [Table Text Block]

The estimated aggregate future amortization expense for each of the next five years for all intangible assets remaining as of June 30, 2024, is as follows:


Years Ending June 30,	Computer Software		Customer Relationships		Other Intangible Assets		Total
2025	$	131,962	$	8,317	$	6,378	$	146,657
2026	110,330		7,952		5,535		123,817
2027	86,947		7,858		4,016		98,821
2028	61,414		7,821		1,314		70,549
2029	37,707		7,776		1,002		46,485

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
-Section 55
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Unit Award Measurement Date Assumptions (Details) - Performance Shares [Member] - Compensation Peer Group [Member] - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2021
PSU grant date weighted average fair value assumptions
Volatility	25.60%	29.40%	28.60%
Risk free interest rate	4.48%	2.96%	0.32%
Annual dividend based on most recent quarterly dividend	$ 2.08	$ 1.96	$ 1.84
Dividend yield	1.20%	0.90%	1.10%
Beginning percentile rank for Total Share Return (TSR)		74.00%	71.00%	65.00%

Industry and Supplier Concentrations Concentration Risk (Details)	12 Months Ended
	Jun. 30, 2024
Risks and Uncertainties [Abstract]
Concentration Risk, Customer	The Company sells its products to banks, credit unions, and financial institutions throughout the United States and generally does not require collateral. Billings to clients are typically due 30 days from date of billing. Reserves are maintained for potential credit losses. Client-related risks are moderated through the inclusion of credit mitigation clauses in the Company's contracts and through the monitoring of timely payments.
Concentration Risk, Supplier	In addition, some of the Company’s key solutions are dependent on technology manufactured by third parties. Termination of the Company’s relationship with one or more of these third parties could have a negative impact on the operations of the Company.

Subsequent Events (Text Block)	12 Months Ended
Subsequent Events (Text Block)	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events [Text Block]	SUBSEQUENT EVENTS Dividend On August 23, 2024, the Company's Board of Directors declared a cash dividend of $0.55 per share on its common stock, payable on September 27, 2024, to stockholders of record on September 6, 2024.

Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits, period start	$ 12,005	$ 8,990	$ 8,762
Additions for current year tax positions	3,924	2,570	1,863
Additions for prior year tax positions	4,672	2,433	1,642
Reductions for prior year tax positions		(350)	(36)
Reductions related to expirations of statute of limitations	(1,524)	(1,638)	(3,241)
Unrecognized Tax Benefits, period end	$ 19,077	$ 12,005	$ 8,990

Nature of Operations and Summary of Significant Accounting Policies Purchase of Investment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Nonconsolidated Investees, Other \| Other Security Investments
Equity Securities without Readily Determinable Fair Value [Line Items]
Investment Owned, at Cost	$ 25,750
Automated Bookkeeping, Inc. [Member] \| Preferred stock
Equity Securities without Readily Determinable Fair Value [Line Items]
Investment Owned, at Cost		$ 18,250

- Definition

Cost of the investment.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 55
-Paragraph 1
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income	$ 381,816	$ 366,646	$ 362,916
Common share information:
Weighted average shares outstanding for basic earnings per share	72,867	72,918	73,324
Dilutive effect of stock options, restricted stock units, and performance units	158	178	162
Weighted average shares outstanding for diluted earnings per share	73,025	73,096	73,486
Basic earnings per share	$ 5.24	$ 5.03	$ 4.95
Diluted earnings per share	$ 5.23	$ 5.02	$ 4.94
Antidilutive stock options and restricted stock excluded from computation of earnings per share	33	10	7

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Reportable Segment Information Reconciliation of Operating Profit by Segment to Consolidated (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	$ 2,215,543	$ 2,077,702	$ 1,942,884
Cost of Revenue	1,299,477	1,219,062	1,128,614
Research and Development	148,256	142,678	121,355
Selling, General, and Administrative	278,419	235,274	218,296
Total Expenses	1,726,152	1,597,014	1,468,265
OPERATING INCOME	489,391	480,688	474,619
TOTAL INTEREST INCOME (EXPENSE)	8,628	(6,114)	(2,352)
INCOME BEFORE INCOME TAXES	498,019	474,574	472,267
Core Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	690,738	649,045	622,442
Cost of Revenue	287,349	276,818	261,585
SEGMENT INCOME	403,389	372,227	360,857
Payments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	817,708	767,309	719,068
Cost of Revenue	442,084	420,880	386,409
SEGMENT INCOME	375,624	346,429	332,659
Complementary [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	618,211	583,586	544,244
Cost of Revenue	256,007	237,758	226,229
SEGMENT INCOME	362,204	345,828	318,015
Corporate and Other [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	88,886	77,762	57,130
Cost of Revenue	314,037	283,606	254,391
SEGMENT INCOME	(225,151)	(205,844)	(197,261)
Services and Support [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	1,275,954	1,214,701	1,156,365
Services and Support [Member] \| Core Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	649,169	608,517	583,752
Services and Support [Member] \| Payments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	84,655	79,788	83,810
Services and Support [Member] \| Complementary [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	461,828	453,541	434,159
Services and Support [Member] \| Corporate and Other [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	80,302	72,855	54,644
Processing [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	939,589	863,001	786,519
Processing [Member] \| Core Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	41,569	40,528	38,690
Processing [Member] \| Payments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	733,053	687,521	635,258
Processing [Member] \| Complementary [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	156,383	130,045	110,085
Processing [Member] \| Corporate and Other [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
REVENUE	$ 8,584	$ 4,907	$ 2,486

Nature of Operations and Summary of Significant Accounting Policies (Details)	Jun. 30, 2024 client
Accounting Policies [Abstract]
Entity number of clients	7,500

Provision For Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Current Federal	$ 93,890	$ 125,622	$ 59,390
Current State	23,222	30,505	18,089
Deferred Federal	(1,615)	(40,218)	24,391
Deferred State	706	(7,981)	7,481
PROVISION FOR INCOME TAXES	$ 116,203	$ 107,928	$ 109,351

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (a)
-SubTopic 20
-Topic 740
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Earnings Per Share (Tables)

12 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following table reflects the reconciliation between basic and diluted earnings per share.


	Year Ended June 30,
	2024		2023		2022
Net Income	$	381,816	$	366,646	$	362,916
Common share information:
Weighted average shares outstanding for basic earnings per share	72,867		72,918		73,324
Dilutive effect of stock options, restricted stock units, and performance units	158		178		162
Weighted average shares outstanding for diluted earnings per share	73,025		73,096		73,486
Basic earnings per share	$	5.24	$	5.03	$	4.95
Diluted earnings per share	$	5.23	$	5.02	$	4.94

Fair Value Measures and Disclosures (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Certificates of Deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Assets, Fair Value Disclosure	$ 3,505	$ 2,234
Certificates of Deposit \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Assets, Fair Value Disclosure	0	0
Certificates of Deposit \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Assets, Fair Value Disclosure	3,505	2,234
Certificates of Deposit \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other Assets, Fair Value Disclosure	0	0
Credit facilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Lines of Credit, Fair Value Disclosure	150,000	275,000
Credit facilities [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Lines of Credit, Fair Value Disclosure	0	0
Credit facilities [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Lines of Credit, Fair Value Disclosure	150,000	275,000
Credit facilities [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Lines of Credit, Fair Value Disclosure	$ 0	$ 0