Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Sep. 30, 2019	Oct. 15, 2019
Cover [Abstract]
Entity Registrant Name	CACI INTERNATIONAL INC /DE/
Entity Central Index Key	0000016058
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		25,041,979
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock
Trading Symbol	CACI
Security Exchange Name	NYSE
Entity File Number	001-31400
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	54-1345888
Entity Address, Address Line One	1100 North Glebe Road
Entity Address, City or Town	Arlington
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22201
City Area Code	703
Local Phone Number	841-7800
Document Quarterly Report	true
Document Transition Report	false

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Revenue	$ 1,363,392	$ 1,165,864
Costs of revenue:
Direct costs	878,881	782,760
Indirect costs and selling expenses	357,592	264,757
Depreciation and amortization	26,762	18,747
Total costs of revenue	1,263,235	1,066,264
Income from operations	100,157	99,600
Interest expense and other, net	16,811	8,886
Income before income taxes	83,346	90,714
Income tax expense	15,369	11,881
Net income	$ 67,977	$ 78,833
Basic earnings per share	$ 2.73	$ 3.19
Diluted earnings per share	$ 2.66	$ 3.10
Weighted-average basic shares outstanding	24,894	24,737
Weighted-average diluted shares outstanding	25,532	25,424

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 67,977	$ 78,833
Other comprehensive income (loss):
Foreign currency translation adjustment	(5,308)	(1,995)
Change in fair value of interest rate swap agreements, net of tax	(4,964)	217
Other comprehensive loss, net of tax	(10,272)	(1,778)
Comprehensive income	$ 57,705	$ 77,055

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

+ References + Details

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands

Sep. 30, 2019

Jun. 30, 2019

Current assets:

Cash and cash equivalents

$ 83,182

$ 72,028

Accounts receivable, net

848,463

869,840

Prepaid expenses and other current assets

110,623

89,652

Total current assets

1,042,268

1,031,520

Goodwill

3,337,053

3,336,079

Intangible assets, net

422,006

^[1]

436,115

Property and equipment, net

156,750

149,676

Operating lease right-of-use assets

346,273

Supplemental retirement savings plan assets

93,258

92,736

Accounts receivable, long-term

7,730

7,381

Other long-term assets

32,846

33,336

Total assets

5,438,184

5,086,843

Current liabilities:

Current portion of long-term debt

46,920

Accounts payable

92,616

118,917

Accrued compensation and benefits

299,286

290,274

Other accrued expenses and current liabilities

334,802

235,611

Total current liabilities

773,624

691,722

Long-term debt, net of current portion

1,551,951

1,618,093

Supplemental retirement savings plan obligations, net of current portion

97,264

92,291

Deferred income taxes

209,037

205,339

Operating lease liabilities, noncurrent

324,601

Other long-term liabilities

56,456

107,932

Total liabilities

3,012,933

2,715,377

COMMITMENTS AND CONTINGENCIES

Shareholders’ equity:

Preferred stock $0.10 par value, 10,000 shares authorized, no shares issued or outstanding

Common stock $0.10 par value, 80,000 shares authorized; 42,392 shares issued and 24,958 outstanding at September 30, 2019 and 42,314 shares issued and 24,880 outstanding at June 30, 2019

4,239

4,231

Additional paid-in capital

572,348

576,277

Retained earnings

2,478,141

2,410,164

Accumulated other comprehensive loss

(53,428)

(43,156)

Treasury stock, at cost (17,434 and 17,434 shares, respectively)

(576,184)

(576,185)

Total CACI shareholders’ equity

2,425,116

2,371,331

Noncontrolling interest

135

Total shareholders’ equity

2,425,251

2,371,466

Total liabilities and shareholders’ equity

$ 5,438,184

$ 5,086,843

[1]	During the three months ended September 30, 2019, the Company removed $2.0 million in fully amortized intangible assets.

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parentheticals) - $ / shares	Sep. 30, 2019	Jun. 30, 2019
Statement Of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	42,392,000	42,314,000
Common stock, shares outstanding	24,958,000	24,880,000
Treasury stock, shares at cost	17,434,000	17,434,000

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 67,977	$ 78,833
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization	26,762	18,747
Amortization of deferred financing costs	589	579
Non-cash lease expense	17,825
Stock-based compensation expense	7,038	5,698
Deferred income taxes	5,485	10,086
Changes in operating assets and liabilities, net of effect of business acquisitions:
Accounts receivable, net	21,589	(64,339)
Prepaid expenses and other assets	(25,989)	(12,678)
Accounts payable and other accrued expenses	3,477	71,337
Accrued compensation and benefits	(1,267)	(16,763)
Income taxes payable and receivable	4,463	(5,218)
Operating lease liabilities	(17,450)
Long-term liabilities	(7,295)	(3,176)
Net cash provided by operating activities	103,204	83,106
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(22,536)	(9,368)
Cash paid for business acquisitions, net of cash acquired	(1,351)	(89,956)
Other		(409)
Net cash used in investing activities	(23,887)	(99,733)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings under bank credit facilities	439,500	465,500
Principal payments made under bank credit facilities	(506,230)	(432,230)
Payment of contingent consideration		(616)
Proceeds from employee stock purchase plans	1,852	1,527
Repurchases of common stock	(1,717)	(1,393)
Payment of taxes for equity transactions	(467)	(6,576)
Net cash provided by (used in) financing activities	(67,062)	26,212
Effect of exchange rate changes on cash and cash equivalents	(1,101)	(292)
Net increase in cash and cash equivalents	11,154	9,293
Cash and cash equivalents at beginning of period	72,028	66,194
Cash and cash equivalents at end of period	83,182	75,487
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during the period for income taxes, net of refunds	4,675	8,714
Cash paid during the period for interest	15,114	9,637
Non-cash financing and investing activities:
Accrued capital expenditures	$ 3,338	$ 3,545

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Total CACI Shareholders' Equity	Noncontrolling Interest
Beginning balance at Jun. 30, 2018	$ 2,106,887	$ 4,214	$ 570,964	$ 2,126,790	$ (19,030)	$ (576,186)	$ 2,106,752	$ 135
Beginning balance, shares at Jun. 30, 2018		42,139				17,434
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	78,833			78,833			78,833
Stock-based compensation expense	5,698		5,698				5,698
Tax withholdings on restricted share vestings	(17,236)	$ 14	(17,250)				(17,236)
Tax withholdings on restricted share vestings (in shares)		143
Change in fair value of interest rate swap agreements, net	217				217		217
Currency translation adjustment	(1,995)				(1,995)		(1,995)
Repurchases of common stock	(1,393)		(122)			$ (1,271)	(1,393)
Repurchases of common stock (in shares)						8
Treasury stock issued under stock purchase plans	1,277		5			$ 1,272	1,277
Treasury stock issued under stock purchase plans (in shares)						(8)
Ending balance at Sep. 30, 2018	2,190,058	$ 4,228	559,295	2,223,393	(20,808)	$ (576,185)	2,189,923	135
Ending balance, shares at Sep. 30, 2018		42,282				17,434
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect adjustment of ASC 606, net of taxes	17,770			17,770			17,770
Beginning balance at Jun. 30, 2019	2,371,466	$ 4,231	576,277	2,410,164	(43,156)	$ (576,185)	2,371,331	135
Beginning balance, shares at Jun. 30, 2019		42,314				17,434
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	67,977			67,977			67,977
Stock-based compensation expense	7,038		7,038				7,038
Tax withholdings on restricted share vestings	(10,860)	$ 8	(10,868)				(10,860)
Tax withholdings on restricted share vestings (in shares)		78
Change in fair value of interest rate swap agreements, net	(4,964)				(4,964)		(4,964)
Currency translation adjustment	(5,308)				(5,308)		(5,308)
Repurchases of common stock	(1,717)		(112)			$ (1,605)	(1,717)
Repurchases of common stock (in shares)						8
Treasury stock issued under stock purchase plans	1,619		13			$ 1,606	1,619
Treasury stock issued under stock purchase plans (in shares)						(8)
Ending balance at Sep. 30, 2019	$ 2,425,251	$ 4,239	$ 572,348	$ 2,478,141	$ (53,428)	$ (576,184)	$ 2,425,116	$ 135
Ending balance, shares at Sep. 30, 2019		42,392				17,434

Basis of Presentation

3 Months Ended

Sep. 30, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Basis of Presentation

1.	Basis of Presentation

The accompanying unaudited consolidated financial statements of CACI International Inc and subsidiaries (CACI or the Company) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) and include the assets, liabilities, results of operations, comprehensive income and cash flows for the Company, including its subsidiaries and ventures that are majority-owned or otherwise controlled by the Company. Certain information and note disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information presented not misleading. All intercompany balances and transactions have been eliminated in consolidation.

The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and amounts included in other current assets and current liabilities that meet the definition of a financial instrument approximate fair value because of the short-term nature of these amounts. The fair value of the Company’s debt outstanding as of September 30, 2019 under its bank credit facility approximates its carrying value. The fair value of the Company’s debt under its bank credit facility was estimated using Level 2 inputs based on market data of companies with a corporate rating similar to CACI’s that have recently priced credit facilities. See Notes 10 and 17.

In the opinion of management, the accompanying unaudited consolidated financial statements reflect all adjustments and reclassifications (all of which are of a normal, recurring nature) that are necessary for the fair presentation of the periods presented. It is suggested that these unaudited consolidated financial statements be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s latest annual report to the SEC on Form 10-K for the year ended June 30, 2019. The results of operations for the three months ended September 30, 2019 are not necessarily indicative of the results to be expected for any subsequent interim period or for the full fiscal year.

Recent Accounting Pronouncements

3 Months Ended

Sep. 30, 2019

New Accounting Pronouncements And Changes In Accounting Principles [Abstract]

Recent Accounting Pronouncements

2.	Recent Accounting Pronouncements

Accounting Standards Updates Issued but Not Yet Adopted

In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which aligns the capitalization requirements for implementation costs incurred in a hosting arrangement that is a service contract with the existing capitalization requirements for implementation costs associated with internal-use software (Subtopic 350-40). ASU 2018-15 becomes effective for the Company in the first quarter of FY2021 and may be adopted either retrospectively or prospectively. The Company is currently evaluating the impact of the adoption of this standard on its financial statements.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses, which requires companies to record an allowance for expected credit losses over the contractual term of financial assets, including short-term trade receivables and contract assets, and expands disclosure requirements for credit quality of financial assets. ASU 2016-13 becomes effective for the Company in the first quarter of FY2021. We do not expect a significant impact to our operating results, financial position or cash flows as a result of adopting this new standard.

Accounting Standards Updates Adopted

In February 2016, the FASB issued ASU 2016-02, Leases, which amends the existing guidance on accounting for leases. The new standard requires lessees to put virtually all leases on the balance sheet by recognizing lease assets and lease liabilities. Lessor accounting is largely unchanged from that applied under previous guidance. The amended guidance was effective for the fiscal year, and interim periods within that fiscal year, beginning after December 15, 2018, and requires a modified retrospective approach.

The Company adopted this standard on July 1, 2019. As part of our implementation, the Company accumulated data required to measure its existing leases, reviewed lease contracts, implemented a new lease accounting solution and evaluated accounting policy and internal control changes. The Company adopted certain practical expedients provided under ASC 842, including reassessment of whether expired or existing contracts contain leases, reassessment of lease classification for expired or existing leases, reassessing initial direct costs for existing leases, and an election to separate lease from non-lease components.

Upon adoption of ASC 842, the Company recorded right of use assets of $354.3 million and current and non-current lease liabilities of $67.0 million and $331.8 million, respectively, on the consolidated balance sheet, inclusive of required reclassifications for prepaid and deferred rent, lease incentives, and other lease-related balances.

The impact of adoption on our consolidated balance sheet is as follows (in thousands):

	June 30, 2019 As Reported Under ASC 840		Adjustments Due to ASC 842			July 1, 2019 Balance Under ASC 842
Assets:
Prepaid expenses and other current assets	$	89,652	$	(3,199	)	$	86,453
Operating lease right-of-use assets		—		354,317			354,317
Liabilities and Shareholders' Equity:
Other accrued expenses and current liabilities		235,611		59,034			294,645
Operating lease liabilities, noncurrent		—		331,761			331,761
Other long-term liabilities		107,932		(39,677	)		68,255

Summary of Significant Accounting Policies

3 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

3.	Summary of Significant Accounting Policies

The Company enters into contractual arrangements primarily for the use of real estate facilities, information technology equipment, and certain other equipment. These arrangements contain a lease when the Company controls the underlying asset and has the right to obtain substantially all of the economic benefits or outputs from the asset. All of our leases are operating leases.

The Company records a right of use (ROU) asset and lease liability as of the lease commencement date equal to the present value of the remaining lease payments. Most of our leases do not provide an implicit rate that can be readily determined. Therefore, we use a discount rate based on the Company’s incremental borrowing rate, which is determined using our credit rating and information available as of the commencement date. The ROU asset is then adjusted for initial direct costs and certain lease incentives included in the contractual arrangement. The Company has elected to not apply the lease recognition guidance for short-term equipment leases and to separate lease from non-lease components. Our operating lease arrangements may contain options to extend the lease term or for early termination. We account for these options when it is reasonably certain we will exercise them. ROU assets are evaluated for impairment in a manner consistent with the treatment of other long-lived assets.

Operating lease expense is recognized on a straight-line basis over the lease term and is recorded primarily within indirect costs and selling expenses on the consolidated statement of operations. Variable lease expenses are generally recorded in the period they are incurred and are excluded from the ROU asset and lease liability.

Acquisitions

3 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

Acquisitions

4.	Acquisition

LGS

On March 1, 2019, CACI acquired all of the equity interests of Legos Intermediate Holdings, LLC and MDCP Legos Blocker, Inc., the parent companies of LGS Innovations (LGS). The purchase consideration was approximately $757.1 million, which includes $759.9 million of cash paid at close net of cash acquired and a $2.8 million net purchase price payment for returnable consideration due from the seller, deferred consideration, and post-close net working capital adjustments. LGS is a leading provider of SIGINT and cyber products and solutions to the Intelligence Community and Department of Defense.

CACI is in the process of finalizing its valuation of all the assets acquired and liabilities assumed. As the amounts recorded for certain assets and liabilities are preliminary in nature, they are subject to adjustment as additional information is obtained about the facts and circumstances that existed at the acquisition date. The final determination of fair values of certain assets and liabilities will be completed within the measurement period of up to one-year from the acquisition date as permitted under GAAP. The LGS acquisition could necessitate the need to use the full one-year measurement period to adequately analyze and assess several factors used in establishing the asset and liability fair values as of the acquisition date, including intangible assets, receivables, inventory, deferred revenue, deferred taxes, income tax obligations, and certain reserves. Any potential adjustments made could be material in relation to the preliminary values.

During the three months ended September 30, 2019, we continued to obtain information to refine estimated fair values. As a result of the additional information, the Company recorded measurement period adjustments that increased receivables and goodwill by $1.4 million and $3.3 million, respectively, reduced accrued expenses and other current liabilities by $1.9 million, and increased purchase consideration by $6.6 million.

Intangible Assets

3 Months Ended

Sep. 30, 2019

Finite Lived Intangible Assets Net [Abstract]

Intangible Assets

5.	Intangible Assets

Intangible assets consisted of the following (in thousands):

	September 30,			June 30,
	2019 (1)			2019
Intangible assets:
Customer contracts and related customer relationships	$	547,801		$	549,552
Acquired technologies		138,031			137,959
Other		810			800
Intangible assets		686,642			688,311
Less accumulated amortization:
Customer contracts and related customer relationships		(245,547	)		(236,935	)
Acquired technologies		(18,558	)		(14,750	)
Other		(531	)		(511	)
Less accumulated amortization		(264,636	)		(252,196	)
Total intangible assets, net	$	422,006		$	436,115

__________________

(1)

During the three months ended September 30, 2019, the Company removed $2.0 million in fully amortized intangible assets.

Intangible assets are primarily amortized on an accelerated basis over periods ranging from one to twenty years. The weighted-average period of amortization for all customer contracts and related customer relationships as of September 30, 2019 is 16.6 years, and the weighted-average remaining period of amortization is 13.7 years. The weighted-average period of amortization for acquired technologies as of September 30, 2019 is 10.3 years, and the weighted-average remaining period of amortization is 9.7 years.

Expected amortization expense for the remainder of the fiscal year ending June 30, 2020, and for each of the fiscal years thereafter, is as follows (in thousands):

Fiscal year ending June 30,	Amount
2020 (nine months)	$	43,219
2021		56,520
2022		53,358
2023		48,181
2024		41,436
Thereafter		179,292
Total intangible assets, net	$	422,006

Goodwill

3 Months Ended

Sep. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill

6.

Goodwill

The changes in the carrying amount of goodwill for the year ended June 30, 2019 and the three months ended September 30, 2019 are as follows (in thousands):

	Domestic		International			Total
Balance at June 30, 2018	$	2,514,520	$	106,315		$	2,620,835
Goodwill acquired (1)		710,165		9,038			719,203
Foreign currency translation		—		(3,959	)		(3,959	)
Balance at June 30, 2019	$	3,224,685	$	111,394		$	3,336,079
Goodwill acquired (1)		5,663		(1,170	)		4,493
Foreign currency translation		—		(3,519	)		(3,519	)
Balance at September 30, 2019	$	3,230,348	$	106,705		$	3,337,053

(1)

Includes goodwill initially allocated to new business combinations as well as measurement period adjustments.

Revenue Recognition

3 Months Ended

Sep. 30, 2019

Revenue From Contract With Customer [Abstract]

Revenue Recognition

7.	Revenue Recognition

We disaggregate our revenue arrangements by contract type, customer, and whether the Company performs on the contract as the prime or subcontractor. We believe that these categories allow for a better understanding of the nature, amount, timing, and uncertainty of revenue and cash flows arising from our contracts.

Revenue by Contract Type

The Company generated revenue on our cost-plus-fee, firm fixed-price, and time-and-materials contracts as follows during the three months ended September 30, 2019 and 2018 (in thousands):

	Three Months Ended						Three Months Ended
	September 30, 2019						September 30, 2018
	Domestic		International		Total		Domestic		International		Total
Cost-plus-fee	$	747,714	$	—	$	747,714	$	641,527	$	—	$	641,527
Firm fixed-price		391,536		26,440		417,976		321,071		22,933		344,004
Time and materials		185,523		12,179		197,702		163,925		16,408		180,333
Total	$	1,324,773	$	38,619	$	1,363,392	$	1,126,523	$	39,341	$	1,165,864

Customer Information

The Company generated revenue from our primary customer groups as follows during the three months ended September 30, 2019 and 2018 (in thousands):

	Three Months Ended						Three Months Ended
	September 30, 2019						September 30, 2018
	Domestic		International		Total		Domestic		International		Total
Department of Defense	$	937,640	$	—	$	937,640	$	818,266	$	—	$	818,266
Federal civilian agencies		363,993		—		363,993		292,202		—		292,202
Commercial and other		23,140		38,619		61,759		16,055		39,341		55,396
Total	$	1,324,773	$	38,619	$	1,363,392	$	1,126,523	$	39,341	$	1,165,864

Prime or Subcontractor

The Company generated revenue as either the prime or subcontractor as follows during the three months ended September 30, 2019 and 2018 (in thousands):

	Three Months Ended						Three Months Ended
	September 30, 2019						September 30, 2018
	Domestic		International		Total		Domestic		International		Total
Prime contractor	$	1,197,634	$	38,619	$	1,236,253	$	1,050,531	$	39,341	$	1,089,872
Subcontractor		127,139		—		127,139		75,992		—		75,992
Total	$	1,324,773	$	38,619	$	1,363,392	$	1,126,523	$	39,341	$	1,165,864

Significant Estimates

For many of our fixed price revenue arrangements and for revenue arrangements that have award or incentive fees, the Company uses an estimate at completion (EAC) to measure progress towards the complete satisfaction of its performance obligations. For these revenue arrangements, revenue is recognized over time primarily using a cost-to-cost input method based on the ratio of costs incurred to date to total estimated costs at completion. The EAC process requires the Company to use professional judgment when assessing risks, estimating contract revenue and costs, estimating variable consideration, and making assumptions for schedule and technical issues. The Company periodically reassesses its EAC assumptions and updates its estimates as needed. When estimates of total costs to be incurred on a contract exceed total revenue, a provision for the entire loss on the contract is recorded in the period in which the loss is determined.

Based on changes in a contract’s EAC, a cumulative adjustment to revenue will be recorded. During the three months ended September 30, 2019 and 2018, we recognized an increase to income before income taxes of $6.5 million ($0.19 per diluted share) and $6.4 million ($0.19 per diluted share), respectively, from EAC adjustments. The Company used its statutory tax rate when calculating the impact to diluted earnings per share.

Remaining Performance Obligations

The Company’s remaining performance obligations balance as of period end represents the expected revenue to be recognized for the satisfaction of remaining performance obligations on our existing contracts. This balance excludes unexercised contract option years and task orders that may be issued underneath an Indefinite Delivery/Indefinite Quantity (IDIQ) vehicle until such task orders are awarded. The remaining performance obligations balance generally increases with the execution of new contracts and converts into revenue as our contractual performance obligations are satisfied.

The Company continues to monitor this balance as it is subject to change from execution of new contracts, contract modifications or extensions, government deobligations, or early terminations. Based on this analysis, an adjustment to the period end balance may be required. Our remaining performance obligations balance as of September 30, 2019 was $7.1 billion.

The Company expects to recognize approximately 73 percent of our remaining performance obligations balance as revenue over the next year and the remaining 27 percent thereafter.

Contract Balances

3 Months Ended

Sep. 30, 2019

Revenue From Contract With Customer [Abstract]

Contract Balances

8.	Contract Balances

Contract assets are primarily comprised of unbilled receivables in which revenue has been recognized but our right to consideration is conditional on factors other than the passage of time. Contract assets exclude billed and billable receivables.

The incremental costs of obtaining a contract (e.g. sales commissions) are capitalized as an asset when the Company expects to recover them either directly or indirectly through the revenue arrangement’s profit margins. These capitalized costs are subsequently expensed over the revenue arrangement’s period of performance. Contract assets are not stated above their net realizable value.

Contract liabilities are primarily comprised of advance payments in which consideration is received in advance of satisfying a performance obligation. The advance payment is subsequently recognized into revenue as the performance obligation is satisfied.

Net contract assets (liabilities) consisted of the following (in thousands):

		September 30,			June 30,
Description of Contract Related Balance	Financial Statement Classification	2019			2019
Contract assets – current:
Unbilled receivables	Accounts receivable, net	$	103,860		$	90,073
Costs to obtain – short-term	Prepaid expenses and other current assets		2,786			2,685
Contract assets – noncurrent:
Unbilled receivables	Accounts receivable, long-term		7,730			7,381
Costs to obtain – long-term	Other long-term assets		5,927			5,353
Contract liabilities – current:
Deferred revenue and other contract liabilities – short-term	Other accrued expenses and current liabilities		(71,216	)		(55,667	)
Contract liabilities – noncurrent:
Deferred revenue and other contract liabilities – long-term	Other long-term liabilities		(7,247	)		(7,445	)
Net contract assets (liabilities)		$	41,840		$	42,380

During the three months ended September 30, 2019 and 2018, we recognized $25.7 million and $17.1 million of revenue, respectively, that was included in a previously recorded contract liability as of the beginning of the period.

Sales of Receivables

3 Months Ended

Sep. 30, 2019

Transfers And Servicing Of Financial Assets [Abstract]

Sales of Receivables

9.	Sales of Receivables

On December 28, 2018, the Company entered into a Master Accounts Receivable Purchase Agreement (MARPA Facility) with MUFG Bank, Ltd. (the Purchaser), for the sale of certain designated eligible U.S. government receivables. The MARPA Facility has an initial term of one-year. Under the MARPA Facility, the Company can sell eligible receivables, including certain billed and unbilled receivables up to a maximum amount of $200.0 million. The Company’s receivables are sold under the MARPA Facility without recourse for any U.S. government credit risk.

The Company accounts for receivable transfers under the MARPA Facility as sales under ASC 860, Transfers and Servicing, and derecognizes the sold receivables from its balance sheets. The fair value of the sold receivables approximated their book value due to their short-term nature.

The Company does not retain an ongoing financial interest in the transferred receivables other than cash collection and administrative services. The Company estimated that its servicing fee was at fair value and therefore no servicing asset or liability related to these receivables was recognized as of September 30, 2019. Proceeds from the sold receivables are reflected in our operating cash flows on the statement of cash flows.

MARPA Facility activity consisted of the following (in thousands):

	As of and for the
	Three Months Ended
	September 30, 2019
Outstanding balance – June 30, 2019:	$	192,527
Sales of receivables		493,879
Cash collections		(505,303	)
Outstanding balance sold to Purchaser – September 30, 2019: (1)		181,103
Cash collected, not remitted to Purchaser (2)		(90,850	)
Remaining sold receivables	$	90,253

(1)

For the three months ended September 30, 2019, the Company recorded a cash outflow in its cash flows from operating activities of $11.4 million from sold receivables. The cash outflow is calculated as the change in the outstanding balance of sold receivables as of September 30, 2019, compared with the outstanding balance as of June 30, 2019.

(2)

Includes the cash collected on behalf of but not yet remitted to the Purchaser as of September 30, 2019. This balance represents an obligation to the Purchaser and is included in other accrued expenses and current liabilities in the accompanying consolidated balance sheet.

Long-term Debt

3 Months Ended

Sep. 30, 2019

Long Term Debt [Abstract]

Long-term Debt

10.	Long-term Debt

Long-term debt consisted of the following (in thousands):

	September 30,			June 30,
	2019			2019
Bank credit facility – term loans	$	879,744		$	891,475
Bank credit facility – revolver loans		730,000			785,000
Principal amount of long-term debt		1,609,744			1,676,475
Less unamortized discounts and debt issuance costs		(10,873	)		(11,462	)
Total long-term debt		1,598,871			1,665,013
Less current portion		(46,920	)		(46,920	)
Long-term debt, net of current portion	$	1,551,951		$	1,618,093

Bank Credit Facility

The Company has a $2,438.4 million credit facility (the Credit Facility), which consists of an $1,500.0 million revolving credit facility (the Revolving Facility) and a $938.4 million term loan (the Term Loan). The Revolving Facility has subfacilities of $100.0 million for same-day swing line loan borrowings and $25.0 million for stand-by letters of credit.

The Revolving Facility is a secured facility that permits continuously renewable borrowings of up to $1,500.0 million. As of September 30, 2019, the Company had $730.0 million outstanding under the Revolving Facility and no borrowings on the swing line. The Company pays a quarterly facility fee for the unused portion of the Revolving Facility.

The Term Loan is a five-year secured facility under which principal payments are due in quarterly installments of $11.7 million until the balance is due in full on June 30, 2024. As of September 30, 2019, the Company had $879.7 million outstanding under the Term Loan.

The interest rates applicable to loans under the Credit Facility are floating interest rates that, at the Company’s option, equal a base rate or a Eurodollar rate plus, in each case, an applicable rate based upon the Company’s consolidated total leverage ratio. As of September 30, 2019, the effective interest rate, including the impact of the Company’s floating-to-fixed interest rate swap agreements and excluding the effect of amortization of debt financing costs, for the outstanding borrowings under the Credit Facility was 3.09 percent.

The Credit Facility requires the Company to comply with certain financial covenants, including a maximum total leverage ratio and a minimum interest coverage ratio. The Credit Facility also includes customary negative covenants restricting or limiting the Company’s ability to guarantee or incur additional indebtedness, grant liens or other security interests to third parties, make loans or investments, transfer assets, declare dividends or redeem or repurchase capital stock or make other distributions, prepay subordinated indebtedness and engage in mergers, acquisitions or other business combinations, in each case except as expressly permitted under the Credit Facility. As of September 30, 2019, the Company was in compliance with all of the financial covenants. A majority of the Company’s assets serve as collateral under the Credit Facility.

All debt issuance costs are being amortized from the date incurred to the expiration date of the Credit Facility.

The aggregate maturities of long-term debt at September 30, 2019 are as follows (in thousands):

Twelve months ending September 30,
2020	$	46,920
2021		46,920
2022		46,920
2023		46,920
2024		1,422,064
Principal amount of long-term debt		1,609,744
Less unamortized discounts and debt issuance costs		(10,873	)
Total long-term debt	$	1,598,871

Cash Flow Hedges

The Company periodically uses derivative financial instruments as part of a strategy to manage exposure to market risks associated with interest rate fluctuations. The Company has entered into several floating-to-fixed interest rate swap agreements for an aggregate notional amount of $900.0 million which hedge a portion of the Company’s floating rate indebtedness. The swaps mature at various dates through 2026. The Company has designated the swaps as cash flow hedges. Unrealized gains are recognized as assets while unrealized losses are recognized as liabilities. The interest rate swap agreements are highly correlated to the changes in interest rates to which the Company is exposed. Realized gains and losses in connection with each required interest payment are reclassified from accumulated other comprehensive income or loss to interest expense. The Company does not hold or issue derivative financial instruments for trading purposes.

The effect of derivative instruments in the consolidated statements of operations and accumulated other comprehensive loss for the three months ended September 30, 2019 and 2018 is as follows (in thousands):

	Three Months Ended
	September 30,
	2019			2018
Gain (loss) recognized in other comprehensive income	$	(4,196	)	$	1,025
Amounts reclassified to earnings from accumulated other comprehensive loss		(768	)		(808	)
Net current period other comprehensive income (loss)	$	(4,964	)	$	217

Leases

3 Months Ended

Sep. 30, 2019

Leases [Abstract]

Leases

11.

Leases

All of the Company’s leases are operating leases. The current portion of operating lease liabilities is included in other accrued expenses and current liabilities in our consolidated balance sheets. Lease balances in our consolidated balance sheet are as follows (in thousands):

	September 30, 2019
Operating lease right-of-use assets	$	346,273

Operating lease liabilities, current		69,715
Operating lease liabilities, noncurrent		324,601
	$	394,316

The Company’s total lease cost is recorded primarily within indirect costs and selling expenses and had the following impact on the consolidated statement of operations (in thousands):

	Three Months Ended September 30, 2019
Operating lease cost	$	21,206
Short-term and variable lease cost		3,370
Sublease income		(464	)
	$	24,112

The Company’s future minimum lease payments under non-cancelable operating leases for the remainder of the fiscal year ending June 30, 2020, and for each of the fiscal years thereafter, are as follows (in thousands):

Fiscal year ending June 30,
2020 (nine months)	$	61,044
2021		76,464
2022		67,172
2023		57,465
2024		45,953
Thereafter		134,390
Total undiscounted lease payments		442,488
Less: imputed interest		(48,172	)
Total discounted lease liabilities	$	394,316

The weighted-average remaining lease term (in years) and weighted-average discount rate was 6.62 years and 3.39 percent, respectively.

Cash paid for operating leases was $20.9 million for the three months ended September 30, 2019.

Commitments and Contingencies

3 Months Ended

Sep. 30, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

12.	Commitments and Contingencies

The Company is involved in various lawsuits, claims, and administrative proceedings arising in the normal course of business. Management is of the opinion that any liability or loss associated with such matters, either individually or in the aggregate, will not have a material adverse effect on the Company’s operations and liquidity.

Government Contracting

Payments to the Company on cost-plus-fee and T&M contracts are subject to adjustment upon audit by the Defense Contract Audit Agency (DCAA) and other government agencies that do not utilize DCAA’s services. The DCAA has completed audits of the Company’s annual incurred cost proposals through fiscal year 2018. We are still negotiating the results of prior years’ audits with the respective cognizant contracting officers and believe our reserves for such are adequate. In the opinion of management, adjustments that may result from these audits and the audits not yet started are not expected to have a material effect on the Company’s financial position, results of operations, or cash flows as the Company has accrued its best estimate of potential disallowances. Additionally, the DCAA continually reviews the cost accounting and other practices of government contractors, including the Company. In the course of those reviews, cost accounting and other issues are identified, discussed and settled.

Stock-Based Compensation

3 Months Ended

Sep. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

13.	Stock-Based Compensation

For the three months ended September 30, 2019 and 2018, the Company recognized $7.0 million and $5.7 million of stock-based compensation, respectively, that was related to restricted stock units (RSUs). The stock-based compensation was included in indirect costs and selling expenses in the consolidated statements of operations.

Under the terms of the 2016 Amended and Restated Incentive Compensation Plan (the 2016 Plan), the Company may issue, among others, non-qualified stock options, restricted stock, RSUs, stock settled appreciation rights (SSARs), and performance awards, collectively referred to herein as equity instruments. The 2016 Plan was approved by the Company’s stockholders in November 2016 and amended and restated the 2006 Stock Incentive Plan (the 2006 Plan) which was due to expire at the end of the ten-year period. Previous grants that were made under the 2006 Plan, and equity instruments granted prior to approval of the 2016 Plan continue to be governed by the terms of the 2006 Plan. During the periods presented all equity instrument grants were made in the form of RSUs. Other than performance-based RSUs (PRSUs) which contain a market-based element, the fair value of RSU grants was determined based on the closing price of a share of the Company’s common stock on the date of grant. The fair value of RSUs with market-based vesting features was also measured on the grant date, but was done so using a binomial lattice model.

The Company granted performance-based stock awards to key employees in October of 2018 and September of 2017 and 2016. The final number of PRSUs that are earned by participants and vest is based on the achievement of a specified EPS for the fiscal year and on the average share price for the 90-day period ended for the following three years. If the 90-day average share price of the Company’s stock in years one, two and three exceeds the 90-day average share price at the grant date by 100 percent or more the number of shares ultimately awarded could range up to 200 percent of the specified target award. In addition to the performance and market conditions, there is a service vesting condition that stipulates 50 percent of the award will vest approximately three years from the grant date and 50 percent will vest approximately four years from the grant date, depending on the award date. During the second quarter of FY2020, the Company granted its annual performance-based stock awards to key employees.

The annual performance-based awards granted for each of the fiscal years presented were as follows:

	Performance-based stock awards granted		Number of additional shares earned under performance-based stock awards
Fiscal year 2019		129,108		5,874
Fiscal year 2018		185,056		51,808
Fiscal year 2017		193,420		133,308

The total number of shares authorized by shareholders for grants under the 2016 Plan and its predecessor plan is 1,200,000 plus any forfeitures from the 2006 Plan. The aggregate number of grants that may be made may exceed this approved amount as forfeited RSUs become available for future grants. As of September 30, 2019, cumulative grants of 716,480 equity instruments underlying the shares authorized have been awarded, and 145,189 of these instruments have been forfeited.

Activity related to RSUs during the three months ended September 30, 2019 is as follows:

	RSUs
Unvested at June 30, 2019		628,806
Granted		123,592
Vested		(126,140	)
Forfeited		(7,006	)
Unvested at September 30, 2019		619,252

As of September 30, 2019, there was $31.8 million of total unrecognized compensation costs related to RSUs scheduled to be recognized over a weighted-average period of 2.4 years.

Earnings Per Share

3 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

14.	Earnings Per Share

Earnings per share and the weighted-average number of diluted shares are computed as follows (in thousands, except per share data):

	Three Months Ended
	September 30,
	2019		2018
Net income	$	67,977	$	78,833
Weighted-average number of basic shares outstanding during the period		24,894		24,737
Dilutive effect of RSUs after application of treasury stock method		638		687
Weighted-average number of diluted shares outstanding during the period		25,532		25,424
Basic earnings per share	$	2.73	$	3.19
Diluted earnings per share	$	2.66	$	3.10

Income Taxes

3 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

15.	Income Taxes

The Company is subject to income taxes in the U.S. and various state and foreign jurisdictions. Tax statutes and regulations within each jurisdiction are subject to interpretation and require the application of significant judgment. The Company is currently under examination by the Internal Revenue Service for the year 2015, two state jurisdictions for the years 2011 through 2017 and one foreign jurisdiction for the years 2011 through 2015. The Company does not expect resolution of these examinations to have a material impact on its results of operations, financial condition or cash flows.

The Company’s total liability for unrecognized tax benefits as of September 30, 2019 and June 30, 2019 was $1.7 million and $1.5 million, respectively. The $1.7 million unrecognized tax benefit at September 30, 2019, if recognized, would impact the Company’s effective tax rate.

For the three months ended September 30, 2019, the effective income tax rate was 18.4 percent compared with 13.1 percent for the same period last year. The Company’s effective income tax rate increased primarily due to the timing of excess tax benefits under ASU 2016-09, Stock Compensation. For both comparative reporting periods, the Company’s effective tax rate was impacted by excess tax benefits under ASU 2016-09, Stock Compensation, and the change in value of assets invested in COLI policies. If gains or losses on the COLI investments throughout the rest of the current fiscal year vary from our estimates, our FY2020 effective tax rate will fluctuate in future quarters for the year ending June 30, 2020.

Business Segment Information

3 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Business Segment Information

16.	Business Segment Information

The Company reports operating results and financial data in two segments: domestic operations and international operations. Domestic operations provide information solutions and services to its customers. Its customers are primarily U.S. federal government agencies. Other customers of the Company’s domestic operations include commercial enterprises. The Company places employees in locations around the world in support of its customers. International operations offer services to both commercial and non-U.S. government customers primarily within the Company’s business systems and enterprise IT markets. The Company evaluates the performance of its operating segments based on net income. Summarized financial information concerning the Company’s reportable segments is as follows (in thousands):

	Domestic Operations		International Operations		Total
Three Months Ended September 30, 2019
Revenue from external customers	$	1,324,773	$	38,619	$	1,363,392
Net income		64,211		3,766		67,977
Three Months Ended September 30, 2018
Revenue from external customers	$	1,126,523	$	39,341	$	1,165,864
Net income		75,449		3,384		78,833

Fair Value of Financial Instruments

3 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

17.	Fair Value of Financial Instruments

ASC 820, Fair Value Measurements and Disclosures, defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. Fair value is the price that would be received to sell an asset or paid to transfer a liability between market participants in an orderly transaction. The market in which the reporting entity would sell the asset or transfer the liability with the greatest volume and level of activity for the asset or liability is known as the principal market. When no principal market exists, the most advantageous market is used. This is the market in which the reporting entity would sell the asset or transfer the liability with the price that maximizes the amount that would be received or minimizes the amount that would be paid. Fair value is based on assumptions market participants would make in pricing the asset or liability. Generally, fair value is based on observable quoted market prices or derived from observable market data when such market prices or data are available. When such prices or inputs are not available, the reporting entity should use valuation models.

The Company’s financial assets and liabilities recorded at fair value on a recurring basis are categorized based on the priority of the inputs used to measure fair value. The inputs used in measuring fair value are categorized into three levels, as follows:

•

Level 1 Inputs – unadjusted quoted prices in active markets for identical assets or liabilities.

•

Level 2 Inputs – unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.

•

Level 3 Inputs – amounts derived from valuation models in which unobservable inputs reflect the reporting entity’s own assumptions about the assumptions of market participants that would be used in pricing the asset or liability.

The Company’s financial instruments measured at fair value included interest rate swap agreements and contingent consideration in connection with business combinations. The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2019 and June 30, 2019, and the level they fall within the fair value hierarchy (in thousands):

			September 30,		June 30,
	Financial Statement	Fair Value	2019		2019
Description of Financial Instrument	Classification	Hierarchy	Fair Value
Contingent consideration	Other accrued expenses and current liabilities	Level 3	$	12,800	$	12,000
Interest rate swap agreements	Other long-term assets	Level 2	$	892	$	2,081
Interest rate swap agreements	Other accrued expenses and current liabilities	Level 2	$	49	$	43
Interest rate swap agreements	Other long-term liabilities	Level 2	$	17,804	$	12,264

Changes in the fair value of the interest rate swap agreements are recorded as a component of accumulated other comprehensive income or loss.

Various acquisitions completed during prior fiscal years contained provisions requiring that the Company pay contingent consideration in the event the acquired businesses achieved certain specified earnings results during the two and three year periods subsequent to each acquisition. The Company determined the fair value of the contingent consideration as of each acquisition date using a valuation model which included the evaluation of the most likely outcome and the application of an appropriate discount rate. At the end of each reporting period, the fair value of the contingent consideration was remeasured and any changes were recorded in indirect costs and selling expenses. During the three months ended September 30, 2019, this remeasurement resulted in a $0.8 million change to the liability recorded.

- 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 + Details

Subsequent Events

3 Months Ended

Sep. 30, 2019

Subsequent Events [Abstract]

Subsequent Events

18.	Subsequent Events

During the second quarter of FY2020, the Company completed three acquisitions for an aggregate purchase price of approximately $105.0 million.

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Basis of Presentation

The accompanying unaudited consolidated financial statements of CACI International Inc and subsidiaries (CACI or the Company) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) and include the assets, liabilities, results of operations, comprehensive income and cash flows for the Company, including its subsidiaries and ventures that are majority-owned or otherwise controlled by the Company. Certain information and note disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information presented not misleading. All intercompany balances and transactions have been eliminated in consolidation.

The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and amounts included in other current assets and current liabilities that meet the definition of a financial instrument approximate fair value because of the short-term nature of these amounts. The fair value of the Company’s debt outstanding as of September 30, 2019 under its bank credit facility approximates its carrying value. The fair value of the Company’s debt under its bank credit facility was estimated using Level 2 inputs based on market data of companies with a corporate rating similar to CACI’s that have recently priced credit facilities. See Notes 10 and 17.

In the opinion of management, the accompanying unaudited consolidated financial statements reflect all adjustments and reclassifications (all of which are of a normal, recurring nature) that are necessary for the fair presentation of the periods presented. It is suggested that these unaudited consolidated financial statements be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s latest annual report to the SEC on Form 10-K for the year ended June 30, 2019. The results of operations for the three months ended September 30, 2019 are not necessarily indicative of the results to be expected for any subsequent interim period or for the full fiscal year.

Recent Accounting Pronouncements

Accounting Standards Updates Issued but Not Yet Adopted

In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which aligns the capitalization requirements for implementation costs incurred in a hosting arrangement that is a service contract with the existing capitalization requirements for implementation costs associated with internal-use software (Subtopic 350-40). ASU 2018-15 becomes effective for the Company in the first quarter of FY2021 and may be adopted either retrospectively or prospectively. The Company is currently evaluating the impact of the adoption of this standard on its financial statements.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses, which requires companies to record an allowance for expected credit losses over the contractual term of financial assets, including short-term trade receivables and contract assets, and expands disclosure requirements for credit quality of financial assets. ASU 2016-13 becomes effective for the Company in the first quarter of FY2021. We do not expect a significant impact to our operating results, financial position or cash flows as a result of adopting this new standard.

Accounting Standards Updates Adopted

In February 2016, the FASB issued ASU 2016-02, Leases, which amends the existing guidance on accounting for leases. The new standard requires lessees to put virtually all leases on the balance sheet by recognizing lease assets and lease liabilities. Lessor accounting is largely unchanged from that applied under previous guidance. The amended guidance was effective for the fiscal year, and interim periods within that fiscal year, beginning after December 15, 2018, and requires a modified retrospective approach.

The Company adopted this standard on July 1, 2019. As part of our implementation, the Company accumulated data required to measure its existing leases, reviewed lease contracts, implemented a new lease accounting solution and evaluated accounting policy and internal control changes. The Company adopted certain practical expedients provided under ASC 842, including reassessment of whether expired or existing contracts contain leases, reassessment of lease classification for expired or existing leases, reassessing initial direct costs for existing leases, and an election to separate lease from non-lease components.

Upon adoption of ASC 842, the Company recorded right of use assets of $354.3 million and current and non-current lease liabilities of $67.0 million and $331.8 million, respectively, on the consolidated balance sheet, inclusive of required reclassifications for prepaid and deferred rent, lease incentives, and other lease-related balances.

The impact of adoption on our consolidated balance sheet is as follows (in thousands):

	June 30, 2019 As Reported Under ASC 840		Adjustments Due to ASC 842			July 1, 2019 Balance Under ASC 842
Assets:
Prepaid expenses and other current assets	$	89,652	$	(3,199	)	$	86,453
Operating lease right-of-use assets		—		354,317			354,317
Liabilities and Shareholders' Equity:
Other accrued expenses and current liabilities		235,611		59,034			294,645
Operating lease liabilities, noncurrent		—		331,761			331,761
Other long-term liabilities		107,932		(39,677	)		68,255

Recent Accounting Pronouncements (Tables)

3 Months Ended

Sep. 30, 2019

ASU 2016-02

Impact of Adoption of ASC 842

The impact of adoption on our consolidated balance sheet is as follows (in thousands):

	June 30, 2019 As Reported Under ASC 840		Adjustments Due to ASC 842			July 1, 2019 Balance Under ASC 842
Assets:
Prepaid expenses and other current assets	$	89,652	$	(3,199	)	$	86,453
Operating lease right-of-use assets		—		354,317			354,317
Liabilities and Shareholders' Equity:
Other accrued expenses and current liabilities		235,611		59,034			294,645
Operating lease liabilities, noncurrent		—		331,761			331,761
Other long-term liabilities		107,932		(39,677	)		68,255

Intangible Assets (Tables)

3 Months Ended

Sep. 30, 2019

Finite Lived Intangible Assets Net [Abstract]

Schedule of Intangible Assets

Intangible assets consisted of the following (in thousands):

	September 30,			June 30,
	2019 (1)			2019
Intangible assets:
Customer contracts and related customer relationships	$	547,801		$	549,552
Acquired technologies		138,031			137,959
Other		810			800
Intangible assets		686,642			688,311
Less accumulated amortization:
Customer contracts and related customer relationships		(245,547	)		(236,935	)
Acquired technologies		(18,558	)		(14,750	)
Other		(531	)		(511	)
Less accumulated amortization		(264,636	)		(252,196	)
Total intangible assets, net	$	422,006		$	436,115

__________________

(1)

During the three months ended September 30, 2019, the Company removed $2.0 million in fully amortized intangible assets.

Expected Amortization Expense

Expected amortization expense for the remainder of the fiscal year ending June 30, 2020, and for each of the fiscal years thereafter, is as follows (in thousands):

Fiscal year ending June 30,	Amount
2020 (nine months)	$	43,219
2021		56,520
2022		53,358
2023		48,181
2024		41,436
Thereafter		179,292
Total intangible assets, net	$	422,006

Goodwill (Tables)

3 Months Ended

Sep. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Roll Forward of Goodwill

The changes in the carrying amount of goodwill for the year ended June 30, 2019 and the three months ended September 30, 2019 are as follows (in thousands):

	Domestic		International			Total
Balance at June 30, 2018	$	2,514,520	$	106,315		$	2,620,835
Goodwill acquired (1)		710,165		9,038			719,203
Foreign currency translation		—		(3,959	)		(3,959	)
Balance at June 30, 2019	$	3,224,685	$	111,394		$	3,336,079
Goodwill acquired (1)		5,663		(1,170	)		4,493
Foreign currency translation		—		(3,519	)		(3,519	)
Balance at September 30, 2019	$	3,230,348	$	106,705		$	3,337,053

(1)

Includes goodwill initially allocated to new business combinations as well as measurement period adjustments.

Revenue Recognition (Tables)

3 Months Ended

Sep. 30, 2019

Revenue From Contract With Customer [Abstract]

Disaggregation of Revenue by Contract Type, Customer Information and Prime or Subcontractor

Revenue by Contract Type

The Company generated revenue on our cost-plus-fee, firm fixed-price, and time-and-materials contracts as follows during the three months ended September 30, 2019 and 2018 (in thousands):

	Three Months Ended						Three Months Ended
	September 30, 2019						September 30, 2018
	Domestic		International		Total		Domestic		International		Total
Cost-plus-fee	$	747,714	$	—	$	747,714	$	641,527	$	—	$	641,527
Firm fixed-price		391,536		26,440		417,976		321,071		22,933		344,004
Time and materials		185,523		12,179		197,702		163,925		16,408		180,333
Total	$	1,324,773	$	38,619	$	1,363,392	$	1,126,523	$	39,341	$	1,165,864

Customer Information

The Company generated revenue from our primary customer groups as follows during the three months ended September 30, 2019 and 2018 (in thousands):

	Three Months Ended						Three Months Ended
	September 30, 2019						September 30, 2018
	Domestic		International		Total		Domestic		International		Total
Department of Defense	$	937,640	$	—	$	937,640	$	818,266	$	—	$	818,266
Federal civilian agencies		363,993		—		363,993		292,202		—		292,202
Commercial and other		23,140		38,619		61,759		16,055		39,341		55,396
Total	$	1,324,773	$	38,619	$	1,363,392	$	1,126,523	$	39,341	$	1,165,864

Prime or Subcontractor

The Company generated revenue as either the prime or subcontractor as follows during the three months ended September 30, 2019 and 2018 (in thousands):

	Three Months Ended						Three Months Ended
	September 30, 2019						September 30, 2018
	Domestic		International		Total		Domestic		International		Total
Prime contractor	$	1,197,634	$	38,619	$	1,236,253	$	1,050,531	$	39,341	$	1,089,872
Subcontractor		127,139		—		127,139		75,992		—		75,992
Total	$	1,324,773	$	38,619	$	1,363,392	$	1,126,523	$	39,341	$	1,165,864

Contract Balances (Tables)

3 Months Ended

Sep. 30, 2019

Revenue From Contract With Customer [Abstract]

Contract Assets and Liabilities

Net contract assets (liabilities) consisted of the following (in thousands):

		September 30,			June 30,
Description of Contract Related Balance	Financial Statement Classification	2019			2019
Contract assets – current:
Unbilled receivables	Accounts receivable, net	$	103,860		$	90,073
Costs to obtain – short-term	Prepaid expenses and other current assets		2,786			2,685
Contract assets – noncurrent:
Unbilled receivables	Accounts receivable, long-term		7,730			7,381
Costs to obtain – long-term	Other long-term assets		5,927			5,353
Contract liabilities – current:
Deferred revenue and other contract liabilities – short-term	Other accrued expenses and current liabilities		(71,216	)		(55,667	)
Contract liabilities – noncurrent:
Deferred revenue and other contract liabilities – long-term	Other long-term liabilities		(7,247	)		(7,445	)
Net contract assets (liabilities)		$	41,840		$	42,380

Sales of Receivables (Tables)

3 Months Ended

Sep. 30, 2019

Transfers And Servicing Of Financial Assets [Abstract]

Summary of MARPA Facility Activity

MARPA Facility activity consisted of the following (in thousands):

	As of and for the
	Three Months Ended
	September 30, 2019
Outstanding balance – June 30, 2019:	$	192,527
Sales of receivables		493,879
Cash collections		(505,303	)
Outstanding balance sold to Purchaser – September 30, 2019: (1)		181,103
Cash collected, not remitted to Purchaser (2)		(90,850	)
Remaining sold receivables	$	90,253

(1)

For the three months ended September 30, 2019, the Company recorded a cash outflow in its cash flows from operating activities of $11.4 million from sold receivables. The cash outflow is calculated as the change in the outstanding balance of sold receivables as of September 30, 2019, compared with the outstanding balance as of June 30, 2019.

(2)

Includes the cash collected on behalf of but not yet remitted to the Purchaser as of September 30, 2019. This balance represents an obligation to the Purchaser and is included in other accrued expenses and current liabilities in the accompanying consolidated balance sheet.

Long-term Debt (Tables)

3 Months Ended

Sep. 30, 2019

Long Term Debt [Abstract]

Schedule of Long-term Debt

Long-term debt consisted of the following (in thousands):

	September 30,			June 30,
	2019			2019
Bank credit facility – term loans	$	879,744		$	891,475
Bank credit facility – revolver loans		730,000			785,000
Principal amount of long-term debt		1,609,744			1,676,475
Less unamortized discounts and debt issuance costs		(10,873	)		(11,462	)
Total long-term debt		1,598,871			1,665,013
Less current portion		(46,920	)		(46,920	)
Long-term debt, net of current portion	$	1,551,951		$	1,618,093

Aggregate Maturities of Long-term Debt

The aggregate maturities of long-term debt at September 30, 2019 are as follows (in thousands):

Twelve months ending September 30,
2020	$	46,920
2021		46,920
2022		46,920
2023		46,920
2024		1,422,064
Principal amount of long-term debt		1,609,744
Less unamortized discounts and debt issuance costs		(10,873	)
Total long-term debt	$	1,598,871

Cash Flow Hedges

The effect of derivative instruments in the consolidated statements of operations and accumulated other comprehensive loss for the three months ended September 30, 2019 and 2018 is as follows (in thousands):

	Three Months Ended
	September 30,
	2019			2018
Gain (loss) recognized in other comprehensive income	$	(4,196	)	$	1,025
Amounts reclassified to earnings from accumulated other comprehensive loss		(768	)		(808	)
Net current period other comprehensive income (loss)	$	(4,964	)	$	217

Leases (Tables)

3 Months Ended

Sep. 30, 2019

Leases [Abstract]

Summary of Lease Balances

Lease balances in our consolidated balance sheet are as follows (in thousands):

	September 30, 2019
Operating lease right-of-use assets	$	346,273

Operating lease liabilities, current		69,715
Operating lease liabilities, noncurrent		324,601
	$	394,316

Summary of Lease Costs

The Company’s total lease cost is recorded primarily within indirect costs and selling expenses and had the following impact on the consolidated statement of operations (in thousands):

	Three Months Ended September 30, 2019
Operating lease cost	$	21,206
Short-term and variable lease cost		3,370
Sublease income		(464	)
	$	24,112

Schedule of Future Minimum Operating Lease Payments

The Company’s future minimum lease payments under non-cancelable operating leases for the remainder of the fiscal year ending June 30, 2020, and for each of the fiscal years thereafter, are as follows (in thousands):

Fiscal year ending June 30,
2020 (nine months)	$	61,044
2021		76,464
2022		67,172
2023		57,465
2024		45,953
Thereafter		134,390
Total undiscounted lease payments		442,488
Less: imputed interest		(48,172	)
Total discounted lease liabilities	$	394,316

Stock-Based Compensation (Tables)

3 Months Ended

Sep. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Annual Performance-Based Awards Granted

The annual performance-based awards granted for each of the fiscal years presented were as follows:

	Performance-based stock awards granted		Number of additional shares earned under performance-based stock awards
Fiscal year 2019		129,108		5,874
Fiscal year 2018		185,056		51,808
Fiscal year 2017		193,420		133,308

Summary of Activity Related to RSUs

Activity related to RSUs during the three months ended September 30, 2019 is as follows:

	RSUs
Unvested at June 30, 2019		628,806
Granted		123,592
Vested		(126,140	)
Forfeited		(7,006	)
Unvested at September 30, 2019		619,252

Earnings Per Share (Tables)

3 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Calculation of basic and diluted earnings per share

Earnings per share and the weighted-average number of diluted shares are computed as follows (in thousands, except per share data):

	Three Months Ended
	September 30,
	2019		2018
Net income	$	67,977	$	78,833
Weighted-average number of basic shares outstanding during the period		24,894		24,737
Dilutive effect of RSUs after application of treasury stock method		638		687
Weighted-average number of diluted shares outstanding during the period		25,532		25,424
Basic earnings per share	$	2.73	$	3.19
Diluted earnings per share	$	2.66	$	3.10

Business Segment Information (Tables)

3 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Summarized Financial Information of Reportable Segments

Summarized financial information concerning the Company’s reportable segments is as follows (in thousands):

	Domestic Operations		International Operations		Total
Three Months Ended September 30, 2019
Revenue from external customers	$	1,324,773	$	38,619	$	1,363,392
Net income		64,211		3,766		67,977
Three Months Ended September 30, 2018
Revenue from external customers	$	1,126,523	$	39,341	$	1,165,864
Net income		75,449		3,384		78,833

Fair Value of Financial Instruments (Tables)

3 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Recurring Fair Value Measurements

The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2019 and June 30, 2019, and the level they fall within the fair value hierarchy (in thousands):

			September 30,		June 30,
	Financial Statement	Fair Value	2019		2019
Description of Financial Instrument	Classification	Hierarchy	Fair Value
Contingent consideration	Other accrued expenses and current liabilities	Level 3	$	12,800	$	12,000
Interest rate swap agreements	Other long-term assets	Level 2	$	892	$	2,081
Interest rate swap agreements	Other accrued expenses and current liabilities	Level 2	$	49	$	43
Interest rate swap agreements	Other long-term liabilities	Level 2	$	17,804	$	12,264

Recent Accounting Pronouncements - Additional Information (Detail Textual) - USD ($) $ in Thousands	Sep. 30, 2019	Jul. 01, 2019
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Right of use assets	$ 346,273	$ 354,317
Current lease liabilities	69,715
Non-current lease liabilities	$ 324,601	331,761
ASU 2016-02
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Right of use assets		354,317
Current lease liabilities		67,000
Non-current lease liabilities		$ 331,761

Recent Accounting Pronouncements - Impact of Adoption of ASC 842 (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Jul. 01, 2019	Jun. 30, 2019
ASSETS
Prepaid expenses and other current assets	$ 110,623	$ 86,453	$ 89,652
Operating lease right-of-use assets	346,273	354,317
LIABILITIES AND SHAREHOLDERS’ EQUITY
Other accrued expenses and current liabilities	334,802	294,645	235,611
Operating lease liabilities, noncurrent	324,601	331,761
Other long-term liabilities	$ 56,456	68,255	$ 107,932
ASU 2016-02
ASSETS
Prepaid expenses and other current assets		(3,199)
Operating lease right-of-use assets		354,317
LIABILITIES AND SHAREHOLDERS’ EQUITY
Other accrued expenses and current liabilities		59,034
Operating lease liabilities, noncurrent		331,761
Other long-term liabilities		$ (39,677)

Acquisitions (Detail Textual) - USD ($) $ in Thousands		3 Months Ended
Acquisitions (Detail Textual) - USD ($) $ in Thousands	Mar. 01, 2019	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition [Line Items]
Cash consideration		$ 1,351	$ 89,956
LGS
Business Acquisition [Line Items]
Purchase consideration	$ 757,100
Cash consideration	759,900
Purchase consideration adjustments, net	$ (2,800)
Measurement period adjustment to receivables		1,400
Measurement period adjustment to goodwill		3,300
Measurement period adjustment to accrued expenses and other current liabilities		1,900
Measurement period adjustment to consideration		$ 6,600

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($)
$ in Thousands

Sep. 30, 2019

^[1]

Jun. 30, 2019

Finite Lived Intangible Assets [Line Items]

Intangible assets

$ 686,642

$ 688,311

Less accumulated amortization

(264,636)

(252,196)

Total intangible assets, net

422,006

436,115

Customer contracts and related customer relationships

Finite Lived Intangible Assets [Line Items]

Intangible assets

547,801

549,552

Less accumulated amortization

(245,547)

(236,935)

Acquired technologies

Finite Lived Intangible Assets [Line Items]

Intangible assets

138,031

137,959

Less accumulated amortization

(18,558)

(14,750)

Other

Finite Lived Intangible Assets [Line Items]

Intangible assets

810

800

Less accumulated amortization

$ (531)

$ (511)

[1]	During the three months ended September 30, 2019, the Company removed $2.0 million in fully amortized intangible assets.

Intangible Assets - Summary of Intangible Assets (Parenthetical) (Detail) $ in Millions	3 Months Ended
	Sep. 30, 2019 USD ($)
Finite Lived Intangible Assets Net [Abstract]
Removal of fully amortized intangible assets	$ 2.0

Intangible Assets (Detail Textual)	3 Months Ended
Intangible Assets (Detail Textual)	Sep. 30, 2019
Minimum
Finite Lived Intangible Assets [Line Items]
Intangible asset amortization period	1 year
Maximum
Finite Lived Intangible Assets [Line Items]
Intangible asset amortization period	20 years
Customer contracts and related customer relationships
Finite Lived Intangible Assets [Line Items]
Weighted-average amortization period	16 years 7 months 6 days
Weighted-average remaining amortization period	13 years 8 months 12 days
Acquired technologies
Finite Lived Intangible Assets [Line Items]
Weighted-average amortization period	10 years 3 months 18 days
Weighted-average remaining amortization period	9 years 8 months 12 days

Intangible Assets - Expected Amortization Expense (Detail) - USD ($)
$ in Thousands

Sep. 30, 2019

Jun. 30, 2019

Finite Lived Intangible Assets Net [Abstract]

$ 43,219

56,520

53,358

48,181

41,436

179,292

Total intangible assets, net

$ 422,006

^[1]

$ 436,115

[1]	During the three months ended September 30, 2019, the Company removed $2.0 million in fully amortized intangible assets.

Goodwill - Roll Forward of Goodwill (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Sep. 30, 2019

Jun. 30, 2019

Goodwill [Roll Forward]

Balance

$ 3,336,079

$ 2,620,835

Goodwill acquired

^[1]

4,493

719,203

Foreign currency translation

(3,519)

(3,959)

Balance

3,337,053

3,336,079

Domestic

Goodwill [Roll Forward]

Balance

3,224,685

2,514,520

Goodwill acquired

^[1]

5,663

710,165

Balance

3,230,348

3,224,685

International

Goodwill [Roll Forward]

Balance

111,394

106,315

Goodwill acquired

^[1]

(1,170)

9,038

Foreign currency translation

(3,519)

(3,959)

Balance

$ 106,705

$ 111,394

[1]	Includes goodwill initially allocated to new business combinations as well as measurement period adjustments.

Revenue Recognition - Disaggregation of Revenue by Contract Type, Customer Information and Prime or Subcontractor (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Disaggregation Of Revenue [Line Items]
Revenue	$ 1,363,392	$ 1,165,864
Prime contractor
Disaggregation Of Revenue [Line Items]
Revenue	1,236,253	1,089,872
Subcontractor
Disaggregation Of Revenue [Line Items]
Revenue	127,139	75,992
Department of Defense
Disaggregation Of Revenue [Line Items]
Revenue	937,640	818,266
Federal civilian agencies
Disaggregation Of Revenue [Line Items]
Revenue	363,993	292,202
Commercial and other
Disaggregation Of Revenue [Line Items]
Revenue	61,759	55,396
Cost-plus-fee
Disaggregation Of Revenue [Line Items]
Revenue	747,714	641,527
Firm fixed-price
Disaggregation Of Revenue [Line Items]
Revenue	417,976	344,004
Time and materials
Disaggregation Of Revenue [Line Items]
Revenue	197,702	180,333
Domestic
Disaggregation Of Revenue [Line Items]
Revenue	1,324,773	1,126,523
Domestic \| Prime contractor
Disaggregation Of Revenue [Line Items]
Revenue	1,197,634	1,050,531
Domestic \| Subcontractor
Disaggregation Of Revenue [Line Items]
Revenue	127,139	75,992
Domestic \| Department of Defense
Disaggregation Of Revenue [Line Items]
Revenue	937,640	818,266
Domestic \| Federal civilian agencies
Disaggregation Of Revenue [Line Items]
Revenue	363,993	292,202
Domestic \| Commercial and other
Disaggregation Of Revenue [Line Items]
Revenue	23,140	16,055
Domestic \| Cost-plus-fee
Disaggregation Of Revenue [Line Items]
Revenue	747,714	641,527
Domestic \| Firm fixed-price
Disaggregation Of Revenue [Line Items]
Revenue	391,536	321,071
Domestic \| Time and materials
Disaggregation Of Revenue [Line Items]
Revenue	185,523	163,925
International
Disaggregation Of Revenue [Line Items]
Revenue	38,619	39,341
International \| Prime contractor
Disaggregation Of Revenue [Line Items]
Revenue	38,619	39,341
International \| Commercial and other
Disaggregation Of Revenue [Line Items]
Revenue	38,619	39,341
International \| Firm fixed-price
Disaggregation Of Revenue [Line Items]
Revenue	26,440	22,933
International \| Time and materials
Disaggregation Of Revenue [Line Items]
Revenue	$ 12,179	$ 16,408

Revenue Recognition (Detail Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Change In Accounting Estimate [Line Items]
Income before income taxes	$ 83,346	$ 90,714
Diluted earnings per share	$ 2.66	$ 3.10
EAC Adjustments
Change In Accounting Estimate [Line Items]
Income before income taxes	$ 6,500	$ 6,400
Diluted earnings per share	$ 0.19	$ 0.19

- 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=117327953&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1252-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

+ Details

Revenue - Remaining Performance Obligations (Detail) $ in Billions	Sep. 30, 2019 USD ($)
Revenue From Contract With Customer [Abstract]
Remaining performance obligations	$ 7.1

Revenue - Remaining Performance Obligations (Detail 1)	Sep. 30, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-10-01
Remaining Performance Obligations [Line Items]
Remaining performance obligations, expected satisfaction, percentage	73.00%
Remaining performance obligations, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-10-01
Remaining Performance Obligations [Line Items]
Remaining performance obligations, expected satisfaction, percentage	27.00%
Remaining performance obligations, expected timing of satisfaction

Contract Balances - Contract Assets and Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Contract assets – current:
Unbilled receivables	$ 103,860	$ 90,073
Costs to obtain – short-term	2,786	2,685
Contract assets – noncurrent:
Unbilled receivables	7,730	7,381
Costs to obtain – long-term	5,927	5,353
Contract liabilities – current:
Deferred revenue and other contract liabilities – short-term	(71,216)	(55,667)
Contract liabilities – noncurrent:
Deferred revenue and other contract liabilities – long-term	(7,247)	(7,445)
Net contract assets (liabilities)	$ 41,840	$ 42,380

Contract Balances (Detail Textual) - USD ($) $ in Millions	3 Months Ended
Contract Balances (Detail Textual) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Revenue From Contract With Customer [Abstract]
Liability, revenue recognized	$ 25.7	$ 17.1

Sales of Receivables (Detail Textual) $ in Millions	Dec. 28, 2018 USD ($)
MARPA Facility
MARPA Facility term	1 year
MARPA Facility maximum commitment	$ 200.0

Sales of Receivables - Summary of MARPA Facility Activity (Detail) - USD ($)
$ in Thousands

Sep. 30, 2019

Jun. 30, 2019

Transfers And Servicing Of Financial Assets [Abstract]

Outstanding balance sold to Purchaser

$ 181,103

^[1]

$ 192,527

Sales of receivables

493,879

Cash collections

(505,303)

Cash collected, not remitted to Purchaser

^[2]

(90,850)

Remaining sold receivables

$ 90,253

[1]	For the three months ended September 30, 2019, the Company recorded a cash outflow in its cash flows from operating activities of $11.4 million from sold receivables. The cash outflow is calculated as the change in the outstanding balance of sold receivables as of September 30, 2019, compared with the outstanding balance as of June 30, 2019.
[2]	Includes the cash collected on behalf of but not yet remitted to the Purchaser as of September 30, 2019. This balance represents an obligation to the Purchaser and is included in other accrued expenses and current liabilities in the accompanying consolidated balance sheet.

Sales of Receivables - Summary of MARPA Facility Activity (Parentheticals) (Detail) $ in Millions	3 Months Ended
	Sep. 30, 2019 USD ($)
Transfers And Servicing Of Financial Assets [Abstract]
Cash provided (used) by MARPA Facility	$ (11.4)

Long-term Debt - Schedule of Long-term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Debt Instrument [Line Items]
Principal amount of long-term debt	$ 1,609,744	$ 1,676,475
Less unamortized discounts and debt issuance costs	(10,873)	(11,462)
Total long-term debt	1,598,871	1,665,013
Less current portion	(46,920)	(46,920)
Long-term debt, net of current portion	1,551,951	1,618,093
Bank credit facility - term loans
Debt Instrument [Line Items]
Principal amount of long-term debt	879,744	891,475
Bank credit facility - revolver loans
Debt Instrument [Line Items]
Principal amount of long-term debt	$ 730,000	$ 785,000

Long-term Debt (Detail Textual) - USD ($)	3 Months Ended
Long-term Debt (Detail Textual) - USD ($)	Sep. 30, 2019	Jun. 30, 2019
Debt Instrument [Line Items]
Outstanding amount under Credit Facility	$ 1,609,744,000	$ 1,676,475,000
Interest Rate Swap \| Cash Flow Hedging
Debt Instrument [Line Items]
Aggregate notional amount	900,000,000.0
Bank Credit Facility
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 2,438,400,000
Outstanding borrowings interest rate	3.09%
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 1,500,000,000.0
Outstanding amount under Credit Facility	730,000,000	785,000,000
Term loans
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	938,400,000
Outstanding amount under Credit Facility	$ 879,744,000	$ 891,475,000
Term loan period	5 years
Loan maturity date	Jun. 30, 2024
Term loan frequency of payment	quarterly
Term loan principal payment	$ 11,700,000
Same-Day Swing Line Loan Revolving Credit Sub-Facility
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	100,000,000.0
Outstanding amount under Credit Facility	0
Stand-By Letters Of Credit Revolving Credit Sub-Facility
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 25,000,000.0

Long-term Debt - Aggregate Maturities of Long-Term Debt (Detail 2) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Long Term Debt [Abstract]
2020	$ 46,920
2021	46,920
2022	46,920
2023	46,920
2024	1,422,064
Principal amount of long-term debt	1,609,744	$ 1,676,475
Less unamortized discounts and debt issuance costs	(10,873)	(11,462)
Total long-term debt	$ 1,598,871	$ 1,665,013

Long-term Debt - Cash Flow Hedges (Detail 3) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Long Term Debt [Abstract]
Gain (loss) recognized in other comprehensive income	$ (4,196)	$ 1,025
Amounts reclassified to earnings from accumulated other comprehensive loss	(768)	(808)
Net current period other comprehensive income (loss)	$ (4,964)	$ 217

Leases - Summary of Lease Balances (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Jul. 01, 2019
Leases [Abstract]
Operating lease right-of-use assets	$ 346,273	$ 354,317
Operating lease liabilities, current	69,715
Operating lease liabilities, noncurrent	324,601	$ 331,761
Operating lease liabilities	$ 394,316

Leases - Summary of Lease Costs (Detail) $ in Thousands	3 Months Ended
Leases - Summary of Lease Costs (Detail) $ in Thousands	Sep. 30, 2019 USD ($)
Leases [Abstract]
Operating lease cost	$ 21,206
Short-term and variable lease cost	3,370
Sublease income	(464)
Total lease cost	$ 24,112

Leases - Schedule of Future Minimum Operating Lease Payments (Detail) $ in Thousands	Sep. 30, 2019 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2020 (nine months)	$ 61,044
2021	76,464
2022	67,172
2023	57,465
2024	45,953
Thereafter	134,390
Total undiscounted lease payments	442,488
Less: imputed interest	(48,172)
Total discounted lease liabilities	$ 394,316

Leases (Detail Textual) $ in Millions	3 Months Ended
Leases (Detail Textual) $ in Millions	Sep. 30, 2019 USD ($)
Leases [Abstract]
Operating lease, weighted average remaining lease term	6 years 7 months 13 days
Operating lease, weighted average discount rate	3.39%
Cash paid for operating leases	$ 20.9

Stock-Based Compensation (Detail Textual) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation related to restricted stock units	$ 7.0	$ 5.7
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period to establish average share price for performance measurement	90 days
Average share price performance condition, percentage	100.00%
Maximum earned award, percentage of target award	200.00%
Percentage of earned award vesting after three years	50.00%
Percentage of earned award vesting after four years	50.00%
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 31.8
Weighted-average period to recognize unrecognized compensation cost (in years)	2 years 4 months 24 days
2006 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock incentive plan, expiration period	10 years
2016 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for grants	1,200,000
Cumulative equity instruments awarded	716,480
Cumulative equity instruments forfeited	145,189

Stock-Based Compensation - Annual Performance-Based Awards Granted (Detail)	3 Months Ended
	Sep. 30, 2019 shares
FY2019 PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PRSUs granted	129,108
Additional PRSUs earned pursuant to condition	5,874
FY2018 PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PRSUs granted	185,056
Additional PRSUs earned pursuant to condition	51,808
FY2017 PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PRSUs granted	193,420
Additional PRSUs earned pursuant to condition	133,308

Stock-Based Compensation - Summary of Activity Related to RSUs (Detail 1) - RSUs	3 Months Ended
	Sep. 30, 2019 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at June 30, 2019	628,806
Granted	123,592
Vested	(126,140)
Forfeited	(7,006)
Unvested at September 30, 2019	619,252

Earnings Per Share - Calculation of Basic and Diluted Earnings per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net income	$ 67,977	$ 78,833
Weighted-average number of basic shares outstanding during the period	24,894	24,737
Dilutive effect of RSUs after application of treasury stock method	638	687
Weighted-average number of diluted shares outstanding during the period	25,532	25,424
Basic earnings per share	$ 2.73	$ 3.19
Diluted earnings per share	$ 2.66	$ 3.10

- Definition

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

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+ 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

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+ Details

- Definition

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

+ References + Details

Income Taxes (Detail Textual) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Detail Textual) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Liability for unrecognized tax benefits	$ 1.7		$ 1.5
Unrecognized tax benefit that would impact the company's effective tax rate	$ 1.7
Effective tax rate, percentage	18.40%	13.10%

Business Segment Information (Detail Textual)	3 Months Ended
Business Segment Information (Detail Textual)	Sep. 30, 2019 Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Business Segment Information - Summarized Financial Information of Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Revenue from external customers	$ 1,363,392	$ 1,165,864
Net income	67,977	78,833
Domestic Operations
Segment Reporting Information [Line Items]
Revenue from external customers	1,324,773	1,126,523
Net income	64,211	75,449
International Operations
Segment Reporting Information [Line Items]
Revenue from external customers	38,619	39,341
Net income	$ 3,766	$ 3,384

- Definition

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

+ References + Details

Fair Value of Financial Instruments - Recurring Fair Value Measurements (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Other long-term assets \| Level 2 \| Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements	$ 892	$ 2,081
Other accrued expenses and current liabilities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	12,800	12,000
Other accrued expenses and current liabilities \| Level 2 \| Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements	49	43
Other long-term liabilities \| Level 2 \| Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap agreements	$ 17,804	$ 12,264

Fair Value of Financial Instruments (Detail Textual) $ in Millions	3 Months Ended
	Sep. 30, 2019 USD ($)
Fair Value Disclosures [Abstract]
Business combination contingent consideration period	two and three year periods
Change in fair value of contingent consideration	$ 0.8

Subsequent Events (Detail Textual) - Scenario Forecast $ in Millions	3 Months Ended
	Dec. 31, 2019 USD ($) Acquisition
Subsequent Event [Line Items]
Number of acquisitions \| Acquisition	3
Purchase consideration \| $	$ 105.0