AUDIT INFORMATION |
12 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Audit Information [Abstract] | |
| Auditor Name | KPMG LLP |
| Auditor Location | Toronto, Canada |
| Auditor Firm ID | 85 |
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Accounts receivable trade, allowance for credit losses | $ 14,258 | $ 12,108 |
| Common stock, shares issued (in shares) | 254,784,391 | 267,800,517 |
| Common stock, shares outstanding (in shares) | 254,784,391 | 267,800,517 |
| Treasury stock (in shares) | 4,648,036 | 3,135,980 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands |
12 Months Ended | ||||||||||||
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Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
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| Statement of Comprehensive Income [Abstract] | |||||||||||||
| Net income | $ 436,066 | $ 465,284 | $ 150,566 | ||||||||||
| Other comprehensive income (loss)—net of tax: | |||||||||||||
| Net foreign currency translation adjustments | (3,548) | (15,646) | (40,798) | ||||||||||
| Unrealized gain (loss) on cash flow hedges: | |||||||||||||
| Unrealized gain (loss) - net of tax | [1] | (403) | (2,697) | (941) | |||||||||
| (Gain) loss reclassified into net income - net of tax | [2] | 2,531 | 965 | 2,721 | |||||||||
| Unrealized gain (loss) on available-for-sale financial assets: | |||||||||||||
| Unrealized gain (loss) - net of tax | [3] | 1,131 | 228 | (602) | |||||||||
| Actuarial gain (loss) relating to defined benefit pension plans: | |||||||||||||
| Actuarial gain (loss) - net of tax | [4] | 1,876 | 640 | (6,605) | |||||||||
| Amortization of actuarial (gain) loss into net income - net of tax | [5] | 965 | 450 | 325 | |||||||||
| Total other comprehensive income (loss), net | 2,552 | (16,060) | (45,900) | ||||||||||
| Total comprehensive income | 438,618 | 449,224 | 104,666 | ||||||||||
| Comprehensive income attributable to non-controlling interests | (198) | (194) | (187) | ||||||||||
| Total comprehensive income attributable to OpenText | $ 438,420 | $ 449,030 | $ 104,479 | ||||||||||
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
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| Statement of Comprehensive Income [Abstract] | |||
| Unrealized gain (loss) on cash flow hedges, tax expense (recovery) | $ (145) | $ (972) | $ (339) |
| (Gain) loss reclassified into net income, tax (expense) recovery | 912 | 347 | 981 |
| OCI, debt securities, available-for-sale, unrealized holding gain (loss), tax | 345 | 112 | (159) |
| Actuarial gain (loss), tax expense (recovery) | 1,686 | 765 | (1,961) |
| Amortization of actuarial (gain) loss into net income, tax (expense) recovery | $ 341 | $ 193 | $ 143 |
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
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| Statement of Stockholders' Equity [Abstract] | |||
| Dividends declared per common share (in dollars per share) | $ 1.0500 | $ 1.00 | $ 0.972 |
BASIS OF PRESENTATION |
12 Months Ended |
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Jun. 30, 2025 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| BASIS OF PRESENTATION | BASIS OF PRESENTATION The accompanying Consolidated Financial Statements include the accounts of Open Text Corporation and our subsidiaries, collectively referred to as “OpenText” or the “Company.” We wholly own all of our subsidiaries with the exception of Open Text South Africa Proprietary Ltd. (OT South Africa), which as of June 30, 2025, was 70% owned by OpenText. All intercompany balances and transactions have been eliminated. The Company's fiscal year begins on July 1 and ends on June 30. Unless otherwise noted, any reference to a year preceded by the word “Fiscal” refers to the fiscal year ended June 30 of that year. For example, references to “Fiscal 2025” refer to the fiscal year ended June 30, 2025. These Consolidated Financial Statements are expressed in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles (U.S. GAAP). The information furnished reflects all adjustments necessary for a fair presentation of the results for the periods presented and includes the consolidated financial results of Micro Focus International Limited, formerly Micro Focus International plc, and its subsidiaries (Micro Focus), with effect from February 1, 2023 and impacts from the sale of the Application Modernization and Connectivity (AMC) business on May 1, 2024 (see below and Note 19 “Acquisitions and Divestitures” for more details). Beginning in the first quarter of Fiscal 2025, for the years ended June 30, 2024 and 2023, the Company reclassified expenses of $29.5 million and $21.4 million, respectively, from Research and development to Sales and marketing in the Consolidated Statements of Income to provide a better representation of the function of the expenses. Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires us to make certain estimates, judgments and assumptions that affect the amounts reported in the Consolidated Financial Statements. These estimates, judgments and assumptions are evaluated on an ongoing basis. We base our estimates on historical experience and on various other assumptions that we believe are reasonable at that time, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from those estimates. In particular, key estimates, judgments and assumptions include those related to: (i) revenue recognition, (ii) accounting for income taxes, (iii) testing of goodwill for impairment, (iv) the valuation of acquired intangible assets, (v) the valuation of long-lived assets, (vi) the recognition of contingencies, (vii) restructuring accruals, (viii) acquisition accruals and pre-acquisition contingencies, (ix) the valuation of stock options granted and obligations related to share-based compensation, including the valuation of our long-term incentive plans, (x) the valuation of pension obligations and pension assets, (xi) the valuation of available-for-sale investments and (xii) the valuation of derivative instruments. Acquisition of Micro Focus On January 31, 2023, we acquired all of the issued and to be issued share capital of Micro Focus (the Micro Focus Acquisition) for a total purchase price of $6.2 billion, inclusive of Micro Focus’ cash and repayment of Micro Focus’ outstanding indebtedness. The results of operations of Micro Focus have been consolidated with those of OpenText with effect from February 1, 2023. See Note 19 “Acquisitions and Divestitures” for more details. Divestiture of AMC Business On May 1, 2024, the Company completed the sale of its Application Modernization and Connectivity (AMC) business to Rocket Software, Inc. (Rocket Software), for $2.275 billion in cash before taxes, fees and other adjustments (the AMC Divestiture). See Note 19 “Acquisitions and Divestitures” for more details. The Company determined that the AMC business did not constitute a component, as its operations and cash flows could not be clearly distinguished from the rest of the Company’s operations and cash flows due to significant shared costs. Therefore, the transaction did not meet the discontinued operations criteria, and the results of operations from the AMC business were presented within Income from operations in our Consolidated Statements of Income up to the date of divestiture.
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ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS |
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS | ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS Accounting Policies Cash and cash equivalents Cash and cash equivalents include balances with banks as well as deposits that have original terms to maturity of three months or less. Cash equivalents are recorded at cost and typically consist of term deposits, commercial paper, certificates of deposit and short-term interest-bearing investment-grade securities of major banks in the countries in which we operate. Accounts Receivable and Allowance for Credit Losses In accordance with ASC Topic 326, “Financial Instruments - Credit Losses” (Topic 326), we recognize expected credit losses for accounts receivable and contract assets based on lifetime expected losses. We recognize a loss allowance using a collective assessment for accounts receivable, including contract assets, with similar risk characteristics based on historical credit loss experience, adjusted for forward-looking factors specific to the debtors and economic environment. We continue to maintain an allowance for 100% of all accounts deemed to be uncollectible. Customer creditworthiness is evaluated prior to order fulfillment and based on evaluations, we adjust our credit limit to the respective customer. In addition to these evaluations, we conduct on-going credit evaluations of our customers’ payment history and current credit worthiness. To date, the actual losses have been within our expectations. No single customer accounted for more than 10% of the accounts receivable balance as of June 30, 2025 and 2024, respectively. From time to time, we may sell certain accounts receivable to a financial institution on a non-recourse basis for cash, less a discount. Proceeds from the sale of receivables approximate their discounted book value and are included in operating cash flows on the Consolidated Statements of Cash Flows. Property and equipment Property and equipment are stated at the lower of cost or net realizable value and shown net of depreciation which is computed on a straight-line basis over the estimated useful lives of the related assets. Gains and losses on asset disposals are taken into income in the year of disposition. Fully depreciated property and equipment are retired from the Consolidated Balance Sheets when they are no longer in use. See the “Impairment of long-lived assets” section below for policy on property and equipment impairments. The following represents the estimated useful lives of property and equipment as of June 30, 2025:
Capitalized Software We capitalize software development costs in accordance with ASC Topic 350-40, “Internal-Use Software.” We capitalize costs for software to be used internally when we enter the application development stage. This occurs when we complete the preliminary project stage, management authorizes and commits to funding the project, and it is feasible that the project will be completed, and the software will perform the intended function. We cease to capitalize costs related to a software project when it enters the post-implementation and operation stage. If different determinations are made with respect to the state of development of a software project, then the amount capitalized and the amount charged to expense for that project could differ materially. Costs capitalized during the application development stage consist of payroll and related costs for employees who are directly associated with, and who devote time directly to, a project to develop software for internal use. We also capitalize the direct costs of materials and services, which generally includes outside contractors, and interest. We do not capitalize any general and administrative or overhead costs or costs incurred during the application development stage related to training or data conversion costs. Costs related to upgrades and enhancements to internal-use software, if those upgrades and enhancements result in additional functionality, are capitalized. If upgrades and enhancements do not result in additional functionality, those costs are expensed as incurred. If different determinations are made with respect to whether upgrades or enhancements to software projects would result in additional functionality, then the amount capitalized and the amount charged to expense for that project could differ materially. We amortize capitalized costs with respect to development projects for internal-use software when the software is ready for use. The capitalized software development costs are generally amortized using the straight-line method over a 3 to 5 year period. In determining and reassessing the estimated useful life over which the cost incurred for the software should be amortized, we consider the effects of obsolescence, technology, competition and other economic factors. If different determinations are made with respect to the estimated useful life of the software, the amount of amortization charged in a particular period could differ materially. As of June 30, 2025 and 2024, our capitalized software development costs were $283.4 million and $250.9 million, respectively. Our additions relating to capitalized software development costs incurred during Fiscal 2025 and Fiscal 2024 were $32.3 million and $26.1 million, respectively. Leases We enter into operating leases, both domestically and internationally, for certain facilities, automobiles, data centers and equipment for use in the ordinary course of business. During Fiscal 2023, as part of the Micro Focus Acquisition, we acquired certain finance leases primarily comprised of equipment leases, all of which are sublet. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets. In accordance with ASC Topic 842, “Leases” (Topic 842), we account for a contract as a lease when we have the right to direct the use of the asset for a period of time while obtaining substantially all of the asset’s economic benefits. We determine the initial classification and measurement of our right of use (ROU) assets and lease liabilities at the lease commencement date and thereafter if modified. ROU assets represent our right to control the underlying assets under lease, and the lease liability is our obligation to make the lease payments related to the underlying assets under lease, over the contractual term. ROU assets and lease liabilities are recognized on the Consolidated Balance Sheets based on the present value of future minimum lease payments to be made over the lease term. When available, we will use the rate implicit in the lease to discount lease payments to present value. However, real estate leases generally do not provide a readily determinable implicit rate, therefore, we must estimate our incremental borrowing rate to discount the lease payments. We estimate our incremental borrowing rate based on a collateralized basis with similar terms and payments, in an economic environment where the leased asset is located. The ROU asset equals the lease liability, adjusted for any initial direct costs, prepaid rent and lease incentives on initial recognition. Fixed lease costs are included in the recognition of ROU assets and lease liabilities. Variable lease costs are not included in the measurement of the lease liability. These variable lease payments are recognized in the Consolidated Statements of Income in the period in which the obligation for those payments is incurred. Lease expense for minimum lease payments continues to be recognized in the Consolidated Statements of Income on a straight-line basis over the lease term. We have not elected the practical expedient to combine lease and non-lease components in the determination of lease costs for our facility leases. For all other asset classes, we have elected the practical expedient to combine the lease and the non-lease components. The lease liability includes lease payments related to options to extend or renew the lease term only if we are reasonably certain we will exercise those options. Our leases typically do not contain any material residual value guarantees or restrictive covenants. In certain circumstances, we sublease all or a portion of a leased facility to various other companies through a sublease agreement. Business combinations We apply the provisions of ASC Topic 805, “Business Combinations” (Topic 805), in the accounting for our acquisitions. It requires us to recognize separately from goodwill the assets acquired and the liabilities assumed at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While we use our best estimates and assumptions to accurately value assets acquired and liabilities, including contingent consideration where applicable, assumed at the acquisition date, our estimates are inherently uncertain and subject to refinement, particularly since these assumptions and estimates are based in part on historical experience and information obtained from the management of the acquired companies. As a result, during the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill in the period identified. Furthermore, when valuing certain intangible assets that we have acquired, critical estimates may be made relating to, but not limited to: (i) future expected cash flows from software license sales, cloud SaaS, “desktop as a service” (DaaS) and PaaS contracts, support agreements, consulting agreements and other customer contracts (ii) the acquired company’s technology and competitive position, as well as assumptions about the period of time that the acquired technology will continue to be used in the combined company’s product portfolio, and (iii) discount rates. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments would be recorded to our Consolidated Statements of Income. For a given acquisition, we may identify certain pre-acquisition contingencies as of the acquisition date and may extend our review and evaluation of these pre-acquisition contingencies throughout the measurement period in order to obtain sufficient information to assess whether we include these contingencies as a part of the purchase price allocation and, if so, to determine the estimated amounts. If we determine that a pre-acquisition contingency (non-income tax related) is probable in nature and estimable as of the acquisition date, we record our best estimate for such a contingency as a part of the preliminary purchase price allocation. We often continue to gather information and evaluate our pre-acquisition contingencies throughout the measurement period and if we make changes to the amounts recorded or if we identify additional pre-acquisition contingencies during the measurement period, such amounts will be included in the purchase price allocation during the measurement period and, subsequently, in our results of operations. Uncertain tax positions and tax-related valuation allowances assumed in connection with a business combination are initially estimated as of the acquisition date. We review these items during the measurement period as we continue to actively seek and collect information relating to facts and circumstances that existed at the acquisition date. Changes to these uncertain tax positions and tax related valuation allowances made subsequent to the measurement period, or if they relate to facts and circumstances that did not exist at the acquisition date, are recorded in the Provision for income taxes line of our Consolidated Statements of Income. Goodwill Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. The carrying amount of goodwill is periodically reviewed for impairment (at a minimum annually) and whenever events or changes in circumstances indicate that the carrying value of this asset may not be recoverable. Our operations are analyzed by management and our chief operating decision maker (CODM) as being part of a single industry segment: the design, development, marketing and sales of Information Management software and solutions. Therefore, our goodwill impairment assessment is based on the allocation of goodwill to a single reporting unit. We perform a qualitative assessment to test our reporting unit’s goodwill for impairment. Based on our qualitative assessment, if we determine that the fair value of our reporting unit is more likely than not (i.e., a likelihood of more than 50 percent) to be less than its carrying amount, the quantitative assessment of the impairment test is performed. In the quantitative assessment, we compare the fair value of our reporting unit to its carrying value. If the fair value of the reporting unit exceeds its carrying value, goodwill is not considered impaired and we are not required to perform further testing. If the carrying value of the net assets of our reporting unit exceeds its fair value, then an impairment loss equal to the difference, but not exceeding the total carrying value of goodwill allocated to the reporting unit, would be recorded. Our annual impairment analysis of goodwill was performed as of April 1, 2025. Our qualitative assessment indicated that there were no indications of impairment and therefore there was no impairment of goodwill required to be recorded for Fiscal 2025 (no impairments were recorded for Fiscal 2024 and Fiscal 2023, respectively). Acquired intangibles Acquired intangibles consist of acquired technology and customer relationships associated with various acquisitions. Acquired technology is initially recorded at fair value based on the present value of the estimated net future income-producing capabilities of software products acquired in acquisitions. We amortize acquired technology on a straight-line basis over its estimated useful life. Customer relationships represent relationships that we have with customers of the acquired companies and are either based upon contractual or legal rights or are considered separable; that is, capable of being separated from the acquired entity and being sold, transferred, licensed, rented or exchanged. These customer relationships are initially recorded at their fair value based on the present value of expected future cash flows. We amortize customer relationships on a straight-line basis over their estimated useful lives. We continually evaluate the remaining estimated useful life of our intangible assets being amortized to determine whether events and circumstances warrant a revision to the remaining period of amortization. Impairment of long-lived assets We account for the impairment and disposition of long-lived assets in accordance with ASC Topic 360, “Property, Plant, and Equipment” (Topic 360). We test long-lived assets or asset groups, such as property and equipment, ROU assets and definite lived intangible assets, for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant adverse changes in the business climate or legal factors; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and a current expectation that the asset will more likely than not be sold or disposed of before the end of its estimated useful life. Recoverability is assessed based on comparing the carrying amount of the asset to the aggregate pre-tax undiscounted cash flows expected to result from the use and eventual disposal of the asset or asset group. Impairment is recognized when the carrying amount is not recoverable and exceeds the fair value of the asset or asset group. The impairment loss, if any, is measured as the amount by which the carrying amount exceeds fair value, which for this purpose is based upon the discounted projected future cash flows of the asset or asset group. We have not recorded any significant impairment charges for long-lived assets during Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively. Derivative financial instruments We use derivative financial instruments to manage foreign currency rate risk. We account for these instruments in accordance with ASC Topic 815, “Derivatives and Hedging” (Topic 815), which requires that every derivative instrument be recorded on the balance sheet as either an asset or liability measured at its fair value as of the reporting date. Topic 815 also requires that changes in our derivative financial instruments’ fair values be recognized in earnings; unless specific hedge accounting and documentation criteria are met (i.e., the instruments are accounted for as hedges). We recorded the effective portions of the gain or loss on derivative financial instruments that were designated as cash flow hedges in Accumulated other comprehensive income (loss), net of tax, in our accompanying Consolidated Balance Sheets. Any ineffective or excluded portion of a designated cash flow hedge, if applicable, was recognized in our Consolidated Statements of Income. In Fiscal 2023, we entered into certain derivative financial instruments, a portion of which were designated as a net investment hedge. In accordance with Topic 815, we recorded the effective portion of the gain or loss on derivative financial instruments that were designated as a net investment hedge within our currency translation adjustment component of Accumulated other comprehensive income (loss), in our accompanying Consolidated Balance Sheets. Any ineffective or excluded portion of our net investment hedge, if applicable, is recognized in Interest and other related expense, net of our Consolidated Statements of Income. See Note 17 “Derivative Instruments and Hedging Activities” for more details. Asset retirement obligations We account for asset retirement obligations in accordance with ASC Topic 410, “Asset Retirement and Environmental Obligations” (Topic 410), which applies to certain obligations associated with “leasehold improvements” within our leased office facilities. Topic 410 requires that a liability be initially recognized for the estimated fair value of the obligation when it is incurred. The associated asset retirement cost is capitalized as part of the carrying amount of the long-lived asset and depreciated over the remaining life of the underlying asset and the associated liability is accreted to the estimated fair value of the obligation at the settlement date through periodic accretion charges which are generally recorded within General and administrative expense in our Consolidated Statements of Income. When the obligation is settled, any difference between the final cost and the recorded amount is recognized as income or loss on settlement in our Consolidated Statements of Income. Revenue recognition In accordance with ASC Topic 606, we account for a customer contract when we obtain written approval, the contract is committed, the rights of the parties, including the payment terms, are identified, the contract has commercial substance and consideration is probable of collection. Revenue is recognized when, or as, control of a promised product or service is transferred to our customers in an amount that reflects the consideration we expect to be entitled to in exchange for our products and services (at its transaction price). Estimates of variable consideration and the determination of whether to include estimated amounts in the transaction price are based on readily available information, which may include historical, current and forecasted information, taking into consideration the type of customer, the type of transaction and specific facts and circumstances of each arrangement. We report revenue net of any revenue-based taxes assessed by governmental authorities that are imposed on and concurrent with specific revenue producing transactions. We have four revenue streams: cloud services and subscriptions, customer support, license, and professional service and other. Cloud services and subscriptions revenue Cloud services and subscriptions revenue are from hosting arrangements where in connection with the licensing of software, the end user does not take possession of the software, as well as from end-to-end fully outsourced B2B integration solutions to our customers (collectively referred to as cloud arrangements). The software application resides on our hardware or that of a third-party, and the customer accesses and uses the software on an as-needed basis. Our cloud arrangements can be broadly categorized as PaaS, SaaS, cloud subscriptions and managed services. PaaS/ SaaS/ Cloud Subscriptions (collectively referred to here as cloud-based solutions): We offer cloud-based solutions that provide customers the right to access our software through the internet. Our cloud-based solutions represent a series of distinct services that are substantially the same and have the same pattern of transfer to the customer. These services are made available to the customer continuously throughout the contractual period. However, the extent to which the customer uses the services may vary at the customer’s discretion. The payment for cloud-based solutions may be received either at inception of the arrangement, or over the term of the arrangement. These cloud-based solutions are considered to have a single performance obligation where the customer simultaneously receives and consumes the benefit, and as such we recognize revenue for these cloud-based solutions ratably over the term of the contractual agreement. For example, revenue related to cloud-based solutions that are provided on a usage basis, such as the number of users, is recognized based on a customer’s utilization of the services in a given period. Additionally, a software license is present in a cloud-based solutions arrangement if all of the following criteria are met: (i)The customer has the contractual right to take possession of the software at any time without significant penalty; and (ii)It is feasible for the customer to host the software independent of us. In these cases where a software license is present in a cloud-based solutions arrangement it is assessed to determine if it is distinct from the cloud-based solutions arrangement. The revenue allocated to the distinct software license would be recognized at the point in time the software license is transferred to the customer, whereas the revenue allocated to the hosting performance obligation would be recognized ratably on a monthly basis over the contractual term unless evidence suggests that revenue is earned, or obligations are fulfilled in a different pattern over the contractual term of the arrangement. Managed services: We provide comprehensive B2B process outsourcing services for all day-to-day operations of a customers’ B2B integration program. Customers using these managed services are not permitted to take possession of our software and the contract is for a defined period, where customers pay a monthly or quarterly fee. Our performance obligation is satisfied as we provide services of operating and managing a customer’s electronic data interchange (EDI) environment. Revenue relating to these services is recognized using an output method based on the expected level of service we will provide over the term of the contract. As part of cloud services and subscriptions revenues, in connection with cloud subscription and managed service contracts, we often agree to perform a variety of services before the customer goes live, such as, converting and migrating customer data, building interfaces and providing training. These services are considered an outsourced suite of professional services which can involve certain project-based activities. These services can be provided at the initiation of a contract, during the implementation or on an ongoing basis as part of the customer life cycle. These services can be charged separately on a fixed fee or time and materials basis, or the costs associated may be recovered as part of the ongoing cloud subscription or managed services fee. These outsourced professional services are considered to be distinct from the ongoing hosting services and represent a separate performance obligation within our cloud subscription or managed services arrangements. The obligation to provide outsourced professional services is satisfied over time, with the customer simultaneously receiving and consuming the benefits as we satisfy our performance obligations. For outsourced professional services, we recognize revenue by measuring progress toward the satisfaction of our performance obligation. Progress for services that are contracted for a fixed price is generally measured based on hours incurred as a portion of total estimated hours. As a practical expedient, when we invoice a customer at an amount that corresponds directly with the value to the customer of our performance to date, we recognize revenue at that amount. Customer support revenue Customer support revenue is associated with perpetual, term license and off-cloud subscription arrangements. As customer support is not critical to the customer’s ability to derive benefit from its right to use our software, customer support is considered as a distinct performance obligation when sold together in a bundled arrangement along with the software. Customer support consists primarily of technical support and the provision of unspecified updates and upgrades on a when-and-if-available basis. Customer support for perpetual licenses is renewable, generally on an annual basis, at the option of the customer. Customer support for term and subscription licenses is renewable concurrently with such licenses for the same duration of time. Payments for customer support are generally made at the inception of the contract term or in installments over the term of the maintenance period. Our customer support team is ready to provide these maintenance services, as needed, to the customer during the contract term. As the elements of customer support are delivered concurrently and have the same pattern of transfer, customer support is accounted for as a single performance obligation. The customer benefits evenly throughout the contract period from the guarantee that the customer support resources and personnel will be available to them, and that any unspecified upgrades or unspecified future products developed by us will be made available. Revenue for customer support is recognized ratably over the contract period based on the start and end dates of the maintenance term, in line with how we believe services are provided. License revenue Our license revenue can be broadly categorized as perpetual licenses, term licenses and subscription licenses, all of which are deployed on the customer’s premises (off-cloud). Perpetual licenses: We sell perpetual licenses which provide customers the right to use software for an indefinite period of time in exchange for a one-time license fee, which is generally paid at contract inception. Our perpetual licenses provide a right to use IP that is functional in nature and have significant stand-alone functionality. Accordingly, for perpetual licenses of functional IP, revenue is recognized at the point-in-time when control has been transferred to the customer, which normally occurs once software activation keys have been made available for download. Term licenses and Subscription licenses: We sell both term and subscription licenses which provide customers the right to use software for a specified period in exchange for a fee, which may be paid at contract inception or paid in installments over the period of the contract. Like perpetual licenses, both our term licenses and subscription licenses are functional IP that have significant stand-alone functionality. Accordingly, for both term and subscription licenses, revenue is recognized at the point-in-time when the customer is able to use and benefit from the software, which is normally once software activation keys have been made available for download at the commencement of the term. Professional service and other revenue Our professional services, when offered along with software licenses, consist primarily of technical services and training services. Technical services may include installation, customization, implementation or consulting services. Training services may include access to online modules or delivering a training package customized to the customer’s needs. At the customer’s discretion, we may offer one, all, or a mix of these services. Payment for professional services is generally a fixed fee or is a fee based on time and materials. Professional services can be arranged in the same contract as the software license or in a separate contract. As our professional services do not significantly change the functionality of the license and our customers can benefit from our professional services on their own or together with other readily available resources, we consider professional services as distinct within the context of the contract. Professional service revenue is recognized over time as long as: (i) the customer simultaneously receives and consumes the benefits as we perform them, (ii) our performance creates or enhances an asset the customer controls as we perform, and (iii) our performance does not create an asset with alternative use and we have enforceable right to payment. If all the above criteria are met, we use an input-based measure of progress for recognizing professional service revenue. For example, we may consider total labour hours incurred compared to total expected labour hours. As a practical expedient, when we invoice a customer at an amount that corresponds directly with the value to the customer of our performance to date, we will recognize revenue at that amount. Material rights To the extent that we grant our customer an option to acquire additional products or services in one of our arrangements, we will account for the option as a distinct performance obligation in the contract only if the option provides a material right to the customer that the customer would not receive without entering into the contract. For example, if we give the customer an option to acquire additional goods or services in the future at a price that is significantly lower than the current price, this would be a material right as it allows the customer to, in effect, pay in advance for the option to purchase future products or services. If a material right exists in one of our contracts, then revenue allocated to the option is deferred and we would recognize revenue only when those future products or services are transferred or when the option expires. Based on history, our contracts do not typically contain material rights and when they do, the material right is not significant to our Consolidated Financial Statements. Arrangements with multiple performance obligations Our contracts generally contain more than one of the products and services listed above. Determining whether goods and services are considered distinct performance obligations that should be accounted for separately or as a single performance obligation may require judgment, specifically when assessing whether both of the following two criteria are met: •the customer can benefit from the product or service either on its own or together with other resources that are readily available to the customer; and •our promise to transfer the product or service to the customer is separately identifiable from other promises in the contract. If these criteria are not met, we determine an appropriate measure of progress based on the nature of our overall promise for the single performance obligation. If these criteria are met, each product or service is separately accounted for as a distinct performance obligation and the total transaction price is allocated to each performance obligation on a relative SSP basis. Standalone selling price The SSP reflects the price we would charge for a specific product or service if it were sold separately in similar circumstances and to similar customers. In most cases we can establish the SSP based on observable data. We typically establish a narrow SSP range for our products and services and assess this range on a periodic basis or when material changes in facts and circumstances warrant a review. If the SSP is not directly observable, then we estimate the amount using either the expected cost plus a margin or residual approach. Estimating SSP requires judgment that could impact the amount and timing of revenue recognized. SSP is a formal process whereby management considers multiple factors including, but not limited to, geographic or regional specific factors, competitive positioning, internal costs, profit objectives, and pricing practices. Transaction Price Allocation In bundled arrangements, where we have more than one distinct performance obligation, we must allocate the transaction price to each performance obligation based on its relative SSP. However, in certain bundled arrangements, the SSP may not always be directly observable. For instance, in bundled arrangements with license and customer support, we allocate the transaction price between the license and customer support performance obligations using the residual approach because we have determined that the SSP for licenses in these arrangements are highly variable. We use the residual approach only for our license arrangements. When the SSP is observable but contractual pricing does not fall within our established SSP range, then an adjustment is required, and we will allocate the transaction price between license and customer support based on the relative SSP established for the respective performance obligations. When two or more contracts are entered into at or near the same time with the same customer, we evaluate the facts and circumstances associated with the negotiation of those contracts. Where the contracts are negotiated as a package, we will account for them as a single arrangement and allocate the consideration for the combined contracts among the performance obligations accordingly. Sales to resellers We execute certain sales contracts through resellers, distributors and channel partners (collectively referred to as resellers). Typically, we conclude that the resellers are OpenText customers in our reseller agreements. The resellers have control over the pricing, service and products prior to being transferred to the end customer. We also assess the creditworthiness of each reseller and if they are newly formed, undercapitalized or in financial difficulty, we defer any revenues expected to emanate from such reseller and recognize revenue only when cash is received, and all other revenue recognition criteria under ASC Topic 606 are met. Rights of return and other incentives We do not generally offer rights of return or any other incentives such as concessions, product rotation, or price protection and, therefore, do not provide for or make estimates of rights of return and similar incentives. However, we do offer consumers who purchase certain of our products online directly from us an unconditional full 70-day money-back guarantee. Distributors and resellers are also permitted to return the consumer products, subject to certain limitations. Revenue is reduced for such rights based on the estimate of future returns originating from contractual agreements with these customers. Additionally, in some contracts, however, discounts may be offered to the customer for future software purchases and other additional products or services. Such arrangements grant the customer an option to acquire additional goods or services in the future at a discount and therefore are evaluated under guidance related to “material rights” as discussed above. Other policies Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 60 days of the invoice date. In certain arrangements, we will receive payment from a customer either before or after the performance obligation to which the invoice relates has been satisfied. As a practical expedient, we do not account for significant financing components if the period between when we transfer the promised good or service to the customer and when the customer pays for the product or service will be one year or less. On that basis, our contracts for license and maintenance typically do not contain a significant financing component, however, in determining the transaction price we consider whether we need to adjust the promised consideration for the effects of the time value of money if the timing of payments provides either the customer or OpenText with a significant benefit of financing. Our managed services contracts may not include an upfront charge for outsourced professional services performed as part of an implementation and are recovered through an ongoing fee. Therefore, these contracts may be expected to have a financing component associated with revenue being recognized in advance of billings. We may modify contracts to offer customers additional products or services. The additional products and services will be considered distinct from those products or services transferred to the customer before the modification and will be accounted for as a separate contract. We evaluate whether the price for the additional products and services reflects the SSP adjusted as appropriate for facts and circumstances applicable to that contract. In determining whether an adjustment is appropriate, we evaluate whether the incremental consideration is consistent with the prices previously paid by the customer or similar customers. Certain of our subscription services and product support arrangements generally contain performance response time guarantees. For subscription services arrangements, we estimate variable consideration using a portfolio approach because performance penalties are tied to standard response time requirements. For product support arrangements, we estimate variable consideration on a contract basis because such arrangements are customer specific. For both subscription services and product support arrangements, we use an expected value approach to estimate variable consideration based on historical business practices and current and future performance expectations to determine the likelihood of incurring penalties. Performance Obligations A summary of our typical performance obligations and when the obligations are satisfied are as follows:
Incremental Costs of Obtaining a Contract with a Customer Incremental costs of obtaining a contract include only those costs that we incur to obtain a contract that we would not have incurred if the contract had not been obtained, such as sales commissions. We have determined that certain of our commission programs meet the requirements to be capitalized. Some commission programs are not subject to capitalization as the commission expense is paid and recognized as the related revenue is recognized. In assessing costs to obtain a contract, we apply a practical expedient that allows us to assess our incremental costs on a portfolio of contracts with similar characteristics instead of assessing the incremental costs on each individual contract. We do not expect the financial statement effects of applying this practical expedient to the portfolio of contracts to be materially different than if we were to apply the standard to each individual contract. We pay commissions on the sale of new customer contracts as well as for renewals of existing contracts to the extent the renewals generate incremental revenue. Commissions paid on renewal contracts are limited to the incremental new revenue and therefore these payments are not commensurate with the commission paid on the original sale. We allocate commission costs to the performance obligations in an arrangement consistent with the allocation of the transaction price. Commissions allocated to the license performance obligation are expensed at the time the license revenue is recognized. Commissions allocated to professional service performance obligations are expensed as incurred, as these contracts are generally for one year or less and we apply a practical expedient to expense costs as incurred if the amortization period would have been one year or less. Commissions allocated to maintenance, managed services, on-going hosting arrangements or other recurring services, are capitalized and amortized consistent with the pattern of transfer to the customer of the services over the period expected to benefit from the commission payment. As commissions paid on renewals are not commensurate with the original sale, the period of benefit considers anticipated renewals. The benefit period is estimated to be approximately six years, which is based on our customer contracts and the estimated life of our technology. Expenses for incremental costs associated with obtaining a contract are recorded within Sales and marketing expense in the Consolidated Statements of Income. Our short-term capitalized costs to obtain a contract are included in Prepaid expenses and other current assets, while our long-term capitalized costs to obtain a contract are included in Other assets on our Consolidated Balance Sheets. Research and development costs Research and development costs internally incurred in creating computer software to be sold, licensed or otherwise marketed are expensed as incurred unless they meet the criteria for deferral and amortization, as described in ASC Topic 985-20, “Costs of Software to be Sold, Leased, or Marketed” (Topic 985-20). In accordance with Topic 985-20, costs related to research, design and development of products are charged to expense as incurred and capitalized between the dates that the product is considered to be technologically feasible and is considered to be ready for general release to customers. In our historical experience, the dates relating to the achievement of technological feasibility and general release of the product have substantially coincided. In addition, no significant costs are incurred subsequent to the establishment of technological feasibility. As a result, we do not capitalize any research and development costs relating to internally developed software to be sold, licensed or otherwise marketed. Advertising Expenses Advertising costs, which include digital advertising, marketing programs and other promotional costs, are expensed as incurred. Advertising expenses incurred in Fiscal 2025, Fiscal 2024 and Fiscal 2023 were $64.8 million, $66.9 million and $73.8 million, respectively. Income taxes We account for income taxes in accordance with ASC Topic 740, “Income Taxes” (Topic 740). Deferred tax assets and liabilities arise from temporary differences between the tax bases of assets and liabilities and their reported amounts in the Consolidated Financial Statements that will result in taxable or deductible amounts in future years. These temporary differences are measured using enacted tax rates. A valuation allowance is recorded to reduce deferred tax assets to the extent that we consider it is more likely than not that a deferred tax asset will not be realized. In determining the valuation allowance, we consider factors such as the reversal of deferred income tax liabilities, projected taxable income, and the character of income tax assets and tax planning strategies. A change to these factors could impact the estimated valuation allowance and income tax expense. We account for our uncertain tax provisions by using a two-step approach. The first step is to evaluate the tax position for recognition by determining if the weight of the available evidence indicates it is more likely than not, based solely on the technical merits, that the position will be sustained on audit, including the resolution of related appeals or litigation processes, if any. The second step is to measure the appropriate amount of the benefit to recognize. The amount of benefit to recognize is measured as the maximum amount which is more likely than not to be realized. The tax position is derecognized when it is no longer more likely than not that the position will be sustained on audit. On subsequent recognition and measurement, the maximum amount which is more likely than not to be recognized at each reporting date will represent the Company’s best estimate, given the information available at the reporting date, although the outcome of the tax position is not absolute or final. We recognize both accrued interest and penalties related to liabilities for income taxes within the Provision for income taxes line of our Consolidated Statements of Income (see Note 15 “Income Taxes” for more details). Equity investments We invest in investment funds in which we are a limited partner. Our interests in each of these investees range from 4% to below 20%. These investments are accounted for using the equity method. Our share of net income or losses based on our interest in these investments, which approximates fair value, is recorded as a component of Other income (expense), net in our Consolidated Statements of Income (see Note 23 “Other Income (Expense), Net” for more details). Fair value of financial instruments Carrying amounts of certain financial instruments, including cash and cash equivalents, accounts receivable and accounts payable (trade and accrued liabilities) approximate the fair value due to the relatively short period of time between origination of the instruments and their expected realization. The fair value of our Senior Notes is determined based on observable market prices and categorized as a Level 2 measurement. The carrying value of our other long-term debt facilities approximates the fair value since the interest rate is at market. We apply the provisions of ASC Topic 820, “Fair Value Measurement” (Topic 820), to our available-for-sale financial assets and derivative financial instruments that we are required to carry at fair value pursuant to other accounting standards (see Note 16 “Fair Value Measurement” for more details). Foreign currency Our Consolidated Financial Statements are presented in U.S. dollars. In general, the functional currency of our subsidiaries is the local currency. For each subsidiary, assets and liabilities denominated in foreign currencies are translated into U.S dollars at the exchange rates in effect at the balance sheet dates and revenues and expenses are translated at the average exchange rates prevailing during the previous month of the transaction. The effect of foreign currency translation adjustments are recorded as a component of Accumulated other comprehensive income (loss). Transactional foreign currency gains (losses) included in the Consolidated Statements of Income under the line item Other income (expense), net for Fiscal 2025, Fiscal 2024 and Fiscal 2023 were $(24.9) million, $1.2 million, and $56.6 million, respectively. Restructuring charges We record restructuring charges relating to contractual lease obligations, not accounted for under Topic 842, and other exit costs in accordance with ASC Topic 420, “Exit or Disposal Cost Obligations” (Topic 420). Topic 420 requires that a liability for a cost associated with an exit or disposal activity be recognized and measured initially at its fair value in the period in which the liability is incurred. In order to incur a liability pursuant to Topic 420, our management must have established and approved a plan of restructuring in sufficient detail. A liability for a cost associated with involuntary termination benefits is recorded when benefits have been communicated and a liability for a cost to terminate an operating lease or other contract is incurred, when the contract has been terminated in accordance with the contract terms or we have ceased using the right conveyed by the contract, such as vacating a leased facility not accounted for under Topic 842. The recognition of restructuring charges requires us to make certain judgments regarding the nature, timing and amount associated with the planned restructuring activities, including estimating sub-lease income and the net recoverable amount of equipment to be disposed of. At the end of each reporting period, we evaluate the appropriateness of the remaining accrued balances (see Note 18 “Special Charges (Recoveries)” for more details). Loss Contingencies We are currently involved in various claims and legal proceedings. Quarterly, we review the status of each significant legal matter and evaluate such matters to determine how they should be treated for accounting and disclosure purposes in accordance with the requirements of ASC Topic 450-20, “Loss Contingencies” (Topic 450-20). Specifically, this evaluation process includes the centralized tracking and itemization of the status of all our disputes and litigation items, discussing the nature of any litigation and claim, including any dispute or claim that is reasonably likely to result in litigation, with relevant internal and external counsel, and assessing the progress of each matter in light of its merits and our experience with similar proceedings under similar circumstances. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, we accrue a liability for the estimated loss in accordance with Topic 450-20. As of the date of this Annual Report on Form 10-K, the aggregate of such accrued liabilities was not material to our consolidated financial position or results of operations and we do not believe as of the date of this filing that it is reasonably possible that a loss exceeding the amounts already recognized will be incurred that would be material to our consolidated financial position or results of operations. As described more fully below, we are unable at this time to estimate a possible loss or range of losses in respect of certain disclosed matters (see Note 14 “Guarantees and Contingencies” for more details). Net income per share Basic net income per share is computed using the weighted average number of Common Shares outstanding including contingently issuable shares where the contingency has been resolved. Diluted net income per share is computed using the weighted average number of Common Shares and stock equivalents outstanding using the treasury stock method during the year. For periods in which we incur a net loss, our outstanding Common Share equivalents are not included in the calculation of diluted earnings (loss) per share as their effect is antidilutive. Accordingly, basic and diluted net loss per share for those periods are identical. See Note 24 “Earnings Per Share” for more details. Share-based compensation We measure share-based compensation costs, in accordance with ASC Topic 718, “Compensation - Stock Compensation” (Topic 718) on the grant date, based on the calculated fair value of the award. We have elected to treat awards with graded vesting as a single award when estimating fair value. Compensation cost is recognized on a straight-line basis over the employee requisite service period, which in our circumstances is the stated vesting period of the award, provided that total compensation cost recognized at least equals the pro-rata value of the award that has vested. Compensation cost is initially based on the estimated number of options for which the requisite service is expected to be rendered. This estimate is adjusted in the period once actual forfeitures are known (see Note 13 “Equity and Share-based Compensation” for more details). Accounting for Pensions, post-retirement and post-employment benefits Pension expense is accounted for in accordance with ASC Topic 715, “Compensation-Retirement Benefits” (Topic 715). Pension expense consists of actuarially computed costs of pension benefits in respect of the current year of service, imputed returns on plan assets (for funded plans), imputed interest on pension obligations and amortization of actuarial gain/loss. The expected costs of post-retirement benefits, other than pensions, are accrued in the Consolidated Financial Statements based upon actuarial methods and assumptions. The over-funded or under-funded status of defined benefit pension and other post-retirement plans are recognized as an asset or a liability (with the offset to Accumulated other comprehensive income (loss), net of tax, within Shareholders’ equity), respectively, on the Consolidated Balance Sheets. Actuarial gains or losses in excess of the greater of (i) 10% of the projected benefit obligation, or (ii) 10% of the plan assets, are recognized as a component of Other Comprehensive Income (Loss), net and subsequently amortized as a component of net periodic benefit costs over the weighted average of future working life of the plan’s active employees. See Note 12 “Pension Plans and Other Post-Retirement Benefits” for more details. Held for Sale Classification Assessments for held for sale accounting classification are performed by the Company when events or changes in business circumstances indicate that a change in classification may be necessary. The Company classifies assets and liabilities to be disposed of as held for sale in the period in which they are available for immediate sale in their present condition and when the sale is probable and expected to be completed within one year. Assets and liabilities classified as held for sale are presented separately within current assets and liabilities in our Consolidated Balance Sheets and are measured at the lower of their carrying amount or fair value less costs to sell. Further, the Company ceases to record depreciation and amortization expense on assets that are classified as held for sale. Accounting Pronouncements Adopted in Fiscal 2025 During Fiscal 2025, we adopted the following Accounting Standards Updates (ASU): Segment Reporting In November 2023, the FASB issued ASU 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which provides guidance to improve the disclosures about a public entity’s reportable segments and address requests from investors for additional, more detailed information about a reportable segment’s expenses. We adopted this ASU for our annual period beginning July 1, 2024 on a retrospective basis. The adoption of this ASU expanded our disclosures, but did not have an impact on the Company’s Consolidated Financial Statements. See Note 20 “Segment Information” for additional information. Accounting Pronouncements Not Yet Adopted in Fiscal 2025 Income Taxes In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” that addresses requests for improved income tax disclosures from investors that use the financial statements to make capital allocation decisions. Public entities must adopt the new guidance for fiscal years beginning after December 15, 2024. The amendments in this ASU must be applied on a retrospective basis to all prior periods presented in the financial statements and early adoption is permitted. We are currently evaluating the potential impact of the adoption of ASU 2023-09 on the Company’s financial disclosures. Disaggregation of Income Statement Expenses In November 2024, the FASB issued ASU 2024-03 “Disaggregation of Income Statement Expenses (Subtopic 220-40),” which requires additional disclosures of specific expense categories included within income statement expense captions. The guidance will be effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The amendments in this ASU are to be applied on a prospective basis with the option for retrospective application, and early adoption is permitted. We are currently evaluating the impact of the adoption of ASU 2024-03 on the Company’s financial disclosures.
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| REVENUES | REVENUES Disaggregation of Revenue We have four revenue streams: cloud services and subscriptions, customer support, license, and professional service and other. The following tables disaggregate our revenue by significant geographic area, based on the location of our direct end customer, by type of performance obligation and timing of revenue recognition for the periods indicated:
______________________ (1)Americas consists of countries in North, Central and South America. (2)EMEA consists of countries in Europe, the Middle East and Africa. (3)Asia Pacific primarily consists of Australia, Japan, Singapore, India and China. (4)Recurring revenue is defined as the sum of Cloud services and subscriptions revenue and Customer support revenue. Contract Balances A contract asset, net of allowance for credit losses, will be recorded if we have recognized revenue but do not have an unconditional right to the related consideration from the customer. For example, this will be the case if implementation services offered in a cloud arrangement are identified as a separate performance obligation and are provided to a customer prior to us being able to bill the customer. In addition, a contract asset may arise in relation to subscription licenses if the license revenue that is recognized upfront exceeds the amount that we are able to invoice the customer at that time. Contract assets are reclassified to accounts receivable when the rights become unconditional. The balance for our contract assets and contract liabilities (i.e., deferred revenues) for the periods indicated below were as follows:
The difference in the opening and closing balances of our contract assets and deferred revenues primarily results from the timing difference between our performance and customer payments. We fulfill our obligations under a contract with a customer by transferring products and services in exchange for consideration from the customer. During the year ended June 30, 2025, we reclassified $114.1 million (year ended June 30, 2024—$116.3 million) of contract assets to receivables as a result of the right to the transaction consideration becoming unconditional. During the year ended June 30, 2025, 2024 and 2023 respectively, there was no significant impairment loss recognized related to contract assets. We recognize deferred revenue when we have received consideration, or an amount of consideration is due from the customer for future obligations to transfer products or services. Our deferred revenues primarily relate to cloud services and customer support agreements which have been paid for by customers prior to the performance of those services. The amount of revenue that was recognized during the year ended June 30, 2025 that was included in the deferred revenue balances at June 30, 2024 was $1.5 billion (year ended June 30, 2024 and 2023 —$1.7 billion and $887 million, respectively). Incremental Costs of Obtaining a Contract with a Customer Incremental costs of obtaining a contract include only those costs that we incur to obtain a contract that we would not have incurred if the contract had not been obtained, such as sales commissions. The following table summarizes the changes in total capitalized costs to obtain a contract, since June 30, 2022:
During the year ended June 30, 2025, 2024 and 2023 respectively, there was no significant impairment loss recognized related to capitalized costs to obtain a contract. Refer to Note 9 “Prepaid Expenses and Other Assets” for additional information on incremental costs of obtaining a contract. Remaining Performance Obligations Remaining performance obligations (RPO) represent contracted revenue that has not yet been recognized. They include amounts recognized as deferred revenue and amounts that are contracted but will be billed and recognized as revenue in future periods. Beginning December 31, 2024, the Company elected to include RPO for contracts with an original expected duration of one year or less in accordance with ASC 606-10-50-14, and discontinued use of the practical expedient relating to the disclosure of RPO within a contract. The Company believes this presentation is preferable as it provides additional information. The following chart provides RPO information as of the following periods. The 12-month periods noted below are as of the dates presented, with the remaining balances recognized substantially over the next three years thereafter.
______________________ (1)RPO amounts presented may be impacted by certain estimates including currency fluctuations, estimates of customers’ deployment of contracted solutions, changes in the scope or termination of contracts, among other factors, and are therefore subject to change. (2)Customer support and other RPO is primarily comprised of obligations related to customer support revenues, and to a lesser extent license, professional services and other revenues. Refer to Note 2 “Accounting Policies and Recent Accounting Pronouncements” for additional information on our revenue policy.
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ALLOWANCE FOR CREDIT LOSSES |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Credit Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ALLOWANCE FOR CREDIT LOSSES | ALLOWANCE FOR CREDIT LOSSES The following illustrates the activity in our allowance for credit losses on accounts receivable:
Included in accounts receivable are unbilled receivables in the amount of $56.7 million as of June 30, 2025 (June 30, 2024—$62.1 million). As of June 30, 2025, we have an allowance for credit losses of $0.4 million for contract assets (June 30, 2024—$0.5 million). For additional information on contract assets, see Note 3 “Revenues.”
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PROPERTY AND EQUIPMENT |
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PROPERTY AND EQUIPMENT | PROPERTY AND EQUIPMENT
Sale of Company Owned Facility During the year ended June 30, 2024, we completed the sale of a Company owned facility with a carrying value of $4.5 million. The Company recognized a gain of $1.0 million on this sale in the Consolidated Statements of Income within Other income (expense), net.
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LEASES |
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Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LEASES | LEASES We enter into operating leases, both domestically and internationally, for certain facilities, automobiles, data centers and equipment for use in the ordinary course of business. The duration of the majority of these leases generally ranges from 1 to 10 years, some of which include options to extend for an additional 3 to 5 years after the initial term. Additionally, the land upon which our headquarters in Waterloo, Ontario, Canada is located is leased from the University of Waterloo for a period of 49 years beginning in December 2005, with an option to renew for an additional term of 49 years. We also have finance lease liabilities comprised of equipment lease arrangements with an average duration of 4 to 5 years of which all are currently being sublet. Leases with an initial term of 12 months or less are not recorded on our Consolidated Balance Sheets. The following illustrates the Consolidated Balance Sheets information related to leases:
The weighted average remaining lease term and discount rate for the periods indicated below were as follows:
Lease Costs and Other Information The following illustrates the various components of lease costs for the period indicated:
Supplemental Cash Flow Information The following table presents supplemental information relating to cash flows arising from lease transactions. Cash payments made for variable lease costs and short-term leases are not included in the measurement of lease liabilities, and, as such, are excluded from the amounts below:
___________________________ (1)The year ended June 30, 2023 excludes the impact of $129.7 million of right of use assets obtained through the Micro Focus Acquisition. See Note 19 “Acquisitions and Divestitures” for further details including the finalization of the purchase price allocation for the Micro Focus Acquisition. Maturity of Lease Liabilities The following table presents the future minimum lease payments under our lease liabilities as of June 30, 2025:
Operating lease maturity amounts included in the table above do not include sublease income expected to be received under our various sublease agreements with third parties. Under the agreements initiated with third parties, we expect to receive sublease income of $9.6 million in Fiscal 2026 and $16.0 million thereafter.
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GOODWILL |
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GOODWILL | GOODWILL Goodwill is recorded when the consideration paid for an acquisition of a business exceeds the fair value of identifiable net tangible and intangible assets. The following table summarizes the changes in goodwill:
______________________ (1)Adjustment relates to the open measurement period. (2)Relates to the final settlement of working capital and other adjustments.
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ACQUIRED INTANGIBLE ASSETS |
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACQUIRED INTANGIBLE ASSETS | ACQUIRED INTANGIBLE ASSETS
Where applicable, the above balances as of June 30, 2025 have been reduced to reflect the impact of intangible assets where the gross cost has become fully amortized during the year ended June 30, 2025. The impact of this resulted in reductions to the cost and accumulated amortization of technology assets and customer assets of $89.6 million and $129.8 million, respectively (year ended June 30, 2024 —$239.7 million and $321.5 million, respectively). The weighted average amortization periods for acquired technology and customer intangible assets are approximately six years and nine years, respectively. The following table shows the estimated future amortization expense for the fiscal years indicated. This calculation assumes no future adjustments to acquired intangible assets:
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PREPAID EXPENSES AND OTHER ASSETS |
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| Other Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PREPAID EXPENSES AND OTHER ASSETS | PREPAID EXPENSES AND OTHER ASSETS Prepaid expenses and other current assets:
______________________ (1)Represents the asset related to our derivative instrument activity. See Note 17 “Derivative Instruments and Hedging Activities” for more details. Other assets:
Deposits and restricted cash primarily relate to security deposits provided to landlords in accordance with facility lease agreements and cash restricted per the terms of certain contractual-based agreements. Capitalized costs to obtain a contract relate to incremental costs of obtaining a contract, such as sales commissions, which are eligible for capitalization on contracts to the extent that such costs are expected to be recovered (see Note 3 “Revenues”). Investments relate to certain investment funds in which we are a limited partner. Our interests in each of these investees range from 4% to below 20%. These investments are accounted for using the equity method. Our share of net income or losses based on our interest in these investments, which approximates fair value and is subject to volatility based on market trends and business conditions, is recorded as a component of Other income (expense), net in our Consolidated Statements of Income (see Note 23 “Other Income (Expense), Net”). During the year ended June 30, 2025, our share of income (loss) from these investments was $0.2 million (year ended June 30, 2024 and 2023 — $(18.2) million and $(23.1) million, respectively). A portion of the available-for-sale financial assets relate to contractual arrangements under insurance policies held by the Company with guaranteed interest rates that are utilized to meet certain pension and post-retirement obligations but do not meet the definition of a plan asset. The remaining portion of available-for-sale financial assets are primarily comprised of various debt and equity funds, which are valued utilizing market quotes provided by our third-party custodian. These arrangements are treated as available-for-sale financial assets measured at fair value quarterly (see Note 16 “Fair Value Measurement” with unrealized gains and losses recorded within Other comprehensive income (loss), net (see Note 21 “Accumulated Other Comprehensive Income (Loss)”). Prepaid expenses and other assets, both short-term and long-term, include advance payments on licenses that are being amortized over the applicable terms of the licenses and other miscellaneous assets.
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ACCOUNTS PAYABLE AND ACCRUED LIABILITIES |
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| Accounts Payable and Accrued Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACCOUNTS PAYABLE AND ACCRUED LIABILITIES | ACCOUNTS PAYABLE AND ACCRUED LIABILITIES Accounts payable and accrued liabilities:
______________________ (1)Represents the liability related to our derivative instrument activity (see Note 17 “Derivative Instruments and Hedging Activities” for more details). Long-term accrued liabilities:
Asset retirement obligations We are required to return certain of our leased facilities to their original state at the conclusion of our lease. As of June 30, 2025, the present value of this obligation was $29.7 million (June 30, 2024—$29.6 million), with an undiscounted value of $32.2 million (June 30, 2024—$32.8 million).
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LONG-TERM DEBT |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LONG-TERM DEBT | LONG-TERM DEBT
______________________ (1)During the year ended June 30, 2025, we recorded $1.0 million of debt issuance costs, related to the modification of the Acquisition Term Loan (as defined below) (year ended June 30, 2024—$3.5 million related to the amendment of the Revolver and the modification of the Acquisition Term Loan, each as defined below). (2)During the year ended June 30, 2024, we recognized a loss on debt extinguishment of $56.4 million related to the acceleration and recognition of unamortized debt discount and issuance costs related to the optional repayments of the Acquisition Term Loan and Term Loan B (as defined below) in Fiscal 2024. Senior Unsecured Fixed Rate Notes Senior Notes 2031 On November 24, 2021, Open Text Holdings, Inc. (OTHI) a wholly-owned indirect subsidiary of the Company, issued $650 million in aggregate principal amount of 4.125% senior notes due 2031 guaranteed by the Company (Senior Notes 2031) in an unregistered offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (Securities Act), and to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act. Senior Notes 2031 bear interest at a rate of 4.125% per annum, payable semi-annually in arrears on June 1 and December 1, commencing on June 1, 2022. Senior Notes 2031 will mature on December 1, 2031, unless earlier redeemed, in accordance with their terms, or repurchased. On July 1, 2024, OTHI merged with and into Open Text Inc. (OTI), a wholly-owned indirect subsidiary of the Company. As a result of the merger, OTI assumed all rights and obligations of OTHI concerning the Senior Notes 2031, effective July 1, 2024. For the year ended June 30, 2025, we recorded interest expense of $26.8 million relating to Senior Notes 2031 (year ended June 30, 2024 and 2023—$26.8 million and $26.8 million, respectively). Senior Notes 2030 On February 18, 2020, OTHI issued $900 million in aggregate principal amount of 4.125% senior notes due 2030 guaranteed by the Company (Senior Notes 2030) in an unregistered offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act. Senior Notes 2030 bear interest at a rate of 4.125% per annum, payable semi-annually in arrears on February 15 and August 15, commencing on August 15, 2020. Senior Notes 2030 will mature on February 15, 2030, unless earlier redeemed, in accordance with their terms, or repurchased. As a result of the merger of OTHI with and into OTI, OTI assumed all rights and obligations of OTHI concerning the Senior Notes 2030, effective July 1, 2024. For the year ended June 30, 2025, we recorded interest expense of $37.1 million relating to Senior Notes 2030 (year ended June 30, 2024 and 2023—$37.1 million and $37.1 million, respectively). Senior Notes 2029 On November 24, 2021, the Company issued $850 million in aggregate principal amount of 3.875% senior notes due 2029 (Senior Notes 2029) in an unregistered offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act. Senior Notes 2029 bear interest at a rate of 3.875% per annum, payable semi-annually in arrears on June 1 and December 1, commencing on June 1, 2022. Senior Notes 2029 will mature on December 1, 2029, unless earlier redeemed, in accordance with their terms, or repurchased. For the year ended June 30, 2025, we recorded interest expense of $32.9 million relating to Senior Notes 2029 (year ended June 30, 2024 and 2023—$32.9 million and $32.9 million, respectively). Senior Notes 2028 On February 18, 2020, the Company issued $900 million in aggregate principal amount of 3.875% senior notes due 2028 (Senior Notes 2028) in an unregistered offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act. Senior Notes 2028 bear interest at a rate of 3.875% per annum, payable semi-annually in arrears on February 15 and August 15, commencing on August 15, 2020. Senior Notes 2028 will mature on February 15, 2028, unless earlier redeemed, in accordance with their terms, or repurchased. For the year ended June 30, 2025, we recorded interest expense of $34.9 million relating to Senior Notes 2028 (year ended June 30, 2024 and 2023—$34.9 million and $34.9 million, respectively). Senior Secured Fixed Rate Notes Senior Secured Notes 2027 On December 1, 2022, the Company issued $1 billion in aggregate principal amount of senior secured notes due 2027 (Senior Secured Notes 2027, and together with the Senior Notes 2031, Senior Notes 2030, Senior Notes 2029, and Senior Notes 2028, the Senior Notes) in connection with the Micro Focus Acquisition in an unregistered offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act. Senior Secured Notes 2027 bear interest at a rate of 6.90% per annum, payable semi-annually in arrears on June 1 and December 1, commencing on June 1, 2023. Senior Secured Notes 2027 will mature on December 1, 2027, unless earlier redeemed, in accordance with their terms, or repurchased. The Senior Secured Notes 2027 are guaranteed on a senior secured basis by certain of the Company’s subsidiaries, and are secured with the same priority as the Company’s senior credit facilities. The Senior Secured Notes 2027 and the related guarantees are effectively senior to all of the Company’s and the guarantors’ senior unsecured debt to the extent of the value of the Collateral (as defined in the indenture to the Senior Secured Notes 2027) and are structurally subordinated to all existing and future liabilities of each of the Company’s existing and future subsidiaries that do not guarantee the Senior Secured Notes 2027. As of June 30, 2025, the Senior Secured Notes 2027 bear an effective interest rate of 7.39%. The effective interest rate includes interest expense of $69.0 million and amortization of debt discount and issuance costs of $2.9 million. For the year ended June 30, 2025, we recorded interest expense of $69.0 million, relating to Senior Secured Notes 2027 (year ended June 30, 2024 and 2023—$69.0 million and $40.3 million, respectively). Term Loan B On May 30, 2018, we entered into a credit facility that provided for a $1 billion term loan facility (Term Loan B) and borrowed $1 billion under the facility to, among other things, repay in full the loans under our prior $800 million term loan facility originally entered into on January 16, 2014. On May 6, 2024, we used a portion of the net proceeds from the AMC Divestiture to prepay, in full, the then outstanding principal balance of $940 million under Term Loan B, at which point all remaining commitments under Term Loan B were reduced to zero and Term Loan B was terminated. For the year ended June 30, 2025, we did not record any interest expense relating to Term Loan B (year ended June 30, 2024 and 2023—$58.4 million and $54.0 million, respectively). Revolver On December 19, 2023, we amended our committed revolving credit facility (the Revolver) to, among other things, extend the maturity to December 19, 2028. Borrowings under the Revolver are secured by a first charge over substantially all of our assets, on a pari passu basis with the Acquisition Term Loan (as defined below) and Senior Secured Notes 2027. The Revolver has no fixed repayment date prior to the end of the term. Borrowings under the Revolver bear interest per annum at a floating rate of interest equal to Term SOFR (as defined in the Revolver) and a fixed margin dependent on our consolidated net leverage ratio ranging from 1.25% to 1.75%. Under the Revolver, we must maintain a “consolidated net leverage” ratio of no more than 4.50:1.00 at the end of each financial quarter. Consolidated net leverage ratio is defined for this purpose as the proportion of our total debt reduced by unrestricted cash, including guarantees and letters of credit, over our trailing twelve months net income before interest, taxes, depreciation, amortization, restructuring, share-based compensation and other miscellaneous charges. As of June 30, 2025, our consolidated net leverage ratio, as calculated in accordance with the applicable agreement, was 3.25:1.00. The Revolver requires us to pay a facility fee on unused commitments based on the consolidated net leverage ratio. As of June 30, 2025, the facility fee under the Revolver was 0.30%. For the year ended June 30, 2025, we recorded $2.3 million of facility fees in Interest and other related expense, net, in our Consolidated Statements of Income (year ended June 30, 2024 and 2023—$2.1 million and $1.8 million). As of June 30, 2025, we had no outstanding balance under the Revolver (June 30, 2024—nil). For the year ended June 30, 2025, we did not record any interest expense relating to the Revolver (year ended June 30, 2024 and 2023—$2.2 million and $10.1 million, respectively). Acquisition Term Loan On December 1, 2022, we amended our first lien term loan facility (the Acquisition Term Loan), dated as of August 25, 2022, to increase the aggregate commitments under the senior secured delayed-draw term loan facility from an aggregate principal amount of $2.585 billion to an aggregate principal amount of $3.585 billion. On August 14, 2023, we entered into the second amendment to the Acquisition Term Loan, to reduce the applicable interest rate margin by 0.75% over the remaining term of the Acquisition Term Loan. On May 15, 2024, we entered into the third amendment to the Acquisition Term Loan, to reduce the applicable interest rate margin by 0.5% and remove the 10-basis point credit spread adjustment for loans bearing interest based on the Secured Overnight Financing Rate (SOFR) rate. On November 27, 2024, we entered into the fourth amendment to the Acquisition Term Loan to reduce the applicable interest rate margin by 0.5% over the remaining term of the Acquisition Term Loan. The reductions in interest rate margin on the Acquisition Term Loan resulting from the amendments were all accounted for by the Company as debt modifications. The Acquisition Term Loan has a seven-year term from the date of funding, and repayments under the Acquisition Term Loan are equal to 0.25% of the principal amount in equal quarterly installments for the life of the Acquisition Term Loan, with the remainder due at maturity. Borrowings under the Acquisition Term Loan currently bear a floating rate of interest equal to Term SOFR (as defined in the Acquisition Term Loan) plus an applicable margin of 1.75%. As of June 30, 2025, the outstanding balance on the Acquisition Term Loan bears an interest rate of 6.08%. As of June 30, 2025, the Acquisition Term Loan bears an effective interest rate of 7.12%. The effective interest rate includes interest expense of $148.4 million and amortization of debt discount and issuance costs of $14.7 million. The Acquisition Term Loan has incremental facility capacity of (i) $250 million plus (ii) additional amounts, subject to meeting a “consolidated senior secured net leverage” ratio not exceeding 2.75:1.00, in each case subject to certain conditions. Consolidated senior secured net leverage ratio is defined for this purpose as the proportion of the Company’s total debt reduced by unrestricted cash, including guarantees and letters of credit, that is secured by the Company’s or any of the Company’s subsidiaries’ assets, over the Company’s trailing four financial quarter net income before interest, taxes, depreciation, amortization, restructuring, share-based compensation and other miscellaneous charges. Under the Acquisition Term Loan, we must maintain a “consolidated net leverage” ratio of no more than 4.50:1.00 at the end of each financial quarter. Consolidated net leverage ratio is defined for this purpose as the proportion of the Company’s total debt reduced by unrestricted cash, including guarantees and letters of credit, over the Company’s trailing four financial quarter net income before interest, taxes, depreciation, amortization, restructuring, share-based compensation and other miscellaneous charges as defined in the Acquisition Term Loan. As of June 30, 2025, our consolidated net leverage ratio, as calculated in accordance with the applicable agreement, was 3.25:1.00. The Acquisition Term Loan is unconditionally guaranteed by certain subsidiary guarantors, as defined in the Acquisition Term Loan, and is secured by a first charge on substantially all of the assets of the Company and the subsidiary guarantors on a pari passu basis with the Revolver and the Senior Secured Notes 2027. On October 20, 2023 and January 22, 2024, the Company made prepayments of $75 million and $175 million, respectively, on the Acquisition Term Loan using cash on hand. On May 6, 2024, the Company used a portion of the net proceeds from the AMC Divestiture to prepay $1.06 billion of the outstanding principal balance of the Acquisition Term Loan. For the year ended June 30, 2025, we recorded interest expense of $148.4 million relating to the Acquisition Term Loan (year ended June 30, 2024 and 2023—$272.5 million and $125.7 million, respectively). Debt Discount and Issuance Costs Debt discount and issuance costs relate primarily to costs incurred for the purpose of obtaining or amending our credit facilities and issuing our Senior Notes, and are being amortized through interest expense over the respective terms of the Senior Notes and Acquisition Term Loan using the effective interest method and straight-line method for the Revolver.
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PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS |
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| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS | PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS Defined Benefit and Other Post-Retirement Benefit Plans The Company has 45 pension and other post-retirement plans in multiple countries, including 30 defined benefit and other post-retirement benefit plans which were assumed as part of the Micro Focus Acquisition (see Note 19 “Acquisitions and Divestitures” for more details). All of our pension and other post-retirement plans are located outside of Canada and the United States. The plans are primarily located in Germany, which, as of June 30, 2025, make up approximately 49% of the total net benefit pension obligations. Our defined benefit pension plans include a mix of final salary type plans which provide for retirement, old age, disability and survivor’s benefits. Final salary type pension plans provide benefits to members either in the form of a lump sum payment or a guaranteed level of pension payable for life in the case of retirement, disability and death. Benefits under our final salary type plans are generally based on the participant’s age, compensation and years of service as well as the social security ceiling and other factors. Many of these plans are closed to new members. The net periodic costs of these plans are determined using the projected unit credit method and several actuarial assumptions, the most significant of which are the discount rate and estimated service costs. Other post-retirement plans include statutory plans that offer termination, indemnity or other end of service benefits. Many of these plans were assumed through our acquisitions or are required by local regulatory and statutory requirements. All of our defined benefit and other post-retirement plans are included in the aggregate projected benefit obligation within Pension liability, net on our Consolidated Balance Sheets. The Company intends to only make any cash contributions to any defined benefit pension or post-retirement plans where required by the local regulatory or statutory requirements. For the year ended June 30, 2025, we made cash contributions of $9.2 million (year ended June 30, 2024 and 2023—$4.2 million and $6.5 million, respectively). For Fiscal 2026, we expect to make cash contributions of $9.3 million to our defined benefit plans. As part of the Micro Focus Acquisition (see Note 19 “Acquisitions and Divestitures” for more details), we assumed a total of 30 defined benefit plans, all located outside of Canada and the United States. As of June 30, 2025, these assumed plans carried a net liability of $38.8 million and are funded at 82% of the defined benefit obligations. Plan assets that partially fund these assumed defined benefit obligations are primarily classified within Level 1 and Level 2 of the fair value hierarchy and consist primarily of investments in equity and debt funds. Plan assets exclude insurance contracts with guaranteed interest rates classified as Level 3 available-for-sale financial assets of $27.4 million that do not meet the definition of a qualifying insurance policy, as they have not been pledged to the defined benefit and other post-retirement plans (see Note 16 “Fair Value Measurement” for more details). As of June 30, 2025, the fair value of these acquired plan assets was $182.6 million. The following tables provides the details of the funded status of our defined benefit pension and other post-retirement plans:
The following tables provides details of the net benefit obligations of our defined benefit pension and other post-retirement plans:
______________________ (1) The current portion of the benefit obligation has been included within “Accrued salaries, incentives and commissions,” all within Accounts payable and accrued liabilities in the Consolidated Balance Sheets (see Note 10 “Accounts Payable and Accrued Liabilities” for more details). The following tables provides the details of the change in the benefit obligation and plan assets for the periods indicated:
The following table provides details of net pension expense for the periods indicated:
Service-related net periodic pension costs are recorded within operating expense and all other non-service-related net periodic pension costs are classified under Interest and other related expense, net on our Consolidated Statements of Income. The following table provides details of amounts recognized in Other Comprehensive Income:
The following table provides details of the plan assets measured at fair value presented by asset category and fair value hierarchy for the periods indicated:
The Company’s investment objective with respect to its defined benefit plan assets is to achieve an optimal rate of return over the long term while managing an appropriate level of risk to meet adequate future benefit obligations. Plan assets are managed by investment fiduciaries that determine the appropriate asset allocation, risk tolerance, fund diversification and investment strategies to achieve the long-term investment objectives of the plan assets. In determining the fair value of the defined benefit obligations as of June 30, 2025 and 2024, we used the following weighted-average key assumptions:
Anticipated pension payments under the defined benefit plans for the fiscal years indicated below are as follows:
Defined Contribution Plans The Company has various defined contribution retirement plans around the world covering many of its employees. Under these plans, employees can contribute a portion of their salary to the plan and the Company makes minimum non-elective contributions, discretionary contributions, and matching contributions, depending on the terms of the specific plan. The majority of the plans are primarily located in Canada, the United States, the United Kingdom and Germany. For the year ended June 30, 2025, we made contributions of $50.5 million relating to the defined contribution retirement plans (year ended June 30, 2024 and 2023—$54.7 million and $40.0 million, respectively).
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EQUITY AND SHARE-BASED COMPENSATION |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EQUITY AND SHARE-BASED COMPENSATION | EQUITY AND SHARE-BASED COMPENSATION Equity Cash Dividends For the year ended June 30, 2025, pursuant to the Company’s dividend policy, we declared total non-cumulative dividends of $1.05 per Common Share in the aggregate amount of $271.5 million, which we paid during the same period (year ended June 30, 2024 and 2023—$1.00 and $0.9720 per Common Share, respectively, in the aggregate amount of $267.4 million and $259.5 million, respectively). Share Capital Our authorized share capital includes an unlimited number of Common Shares and an unlimited number of Preference Shares. No Preference Shares have been issued. Treasury Stock From time to time we may provide funds to a third-party agent to facilitate repurchases of our Common Shares in connection with the settlement of awards under the Long-Term Incentive Plans (LTIP) or other plans. During the year ended June 30, 2025, we repurchased 4,619,276 Common Shares on the open market at a cost of $133.1 million for potential settlement of awards under “Long-Term Incentive Plans” and “Restricted Share Units (Other)” or other plans as described below (year ended June 30, 2024 and 2023—1,400,000 and 521,136 Common Shares, respectively, at a cost of $53.1 million and $21.9 million, respectively). During the year ended June 30, 2025, we delivered to eligible participants 3,107,220 Common Shares that were purchased in the open market in connection with the settlement of awards and other plans (year ended June 30, 2024 and 2023—1,800,395 and 691,181 Common Shares, respectively). Employee Stock Purchase Plan (ESPP) Our ESPP offers employees the opportunity to purchase our Common Shares at a purchase price discount of 15%. During the year ended June 30, 2025, 1,291,351 Common Shares were eligible for issuance to employees enrolled in the ESPP (year ended June 30, 2024 and 2023—1,176,466 and 1,089,120 Common Shares, respectively). During the year ended June 30, 2025, cash in the amount of $31.6 million was received from employees relating to the ESPP (year ended June 30, 2024 and 2023—$33.9 million and $31.0 million, respectively). Share Repurchase Plan On April 30, 2024, the Board authorized a share repurchase plan (the Fiscal 2024 Repurchase Plan) pursuant to which we were authorized to purchase for cancellation, in open market transactions from time to time over the 12-month period commencing on May 7, 2024 until May 6, 2025, up to $250 million of our Common Shares. The Fiscal 2024 Repurchase Plan included a normal course issuer bid to provide means to execute purchases over the Toronto Stock Exchange (TSX). On July 31, 2024, in order to align our share repurchase plan to our fiscal year, the Board approved the early termination of the Fiscal 2024 Repurchase Plan and authorized a new share repurchase plan (the Fiscal 2025 Repurchase Plan), pursuant to which we were authorized to purchase for cancellation in open market transactions, from time to time over the 12-month period commencing on August 7, 2024 until August 6, 2025, if considered advisable, up to an aggregate of $300 million of our Common Shares on the TSX, the NASDAQ and/or alternative trading systems in Canada and/or the United States, if eligible, subject to applicable law and stock exchange rules. On March 13, 2025, the Company increased the authorized limit of the Fiscal 2025 Repurchase Plan by $150 million to $450 million and established an automatic share purchase plan (ASPP). The price that we were authorized to pay for Common Shares in open market transactions was the market price at the time of purchase or such other price as was permitted by applicable law or stock exchange rules. The Fiscal 2025 Repurchase Plan was effected in accordance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the Exchange Act), and included a normal course issuer bid to provide means to execute purchases over the TSX. During the year ended June 30, 2025, we repurchased and cancelled 14,524,664 Common Shares for $418.3 million, inclusive of 2% Canadian excise taxes recorded (year ended June 30, 2024 and 2023— 5,073,913 and nil Common Shares for $152.3 million and nil, respectively). Additionally, as of June 30, 2025, we recorded an accrual and a corresponding charge to retained earnings of $24.8 million, representing the estimated value of Common Shares expected to be repurchased following the fiscal quarter ended June 30, 2025 pursuant to the ASPP. Share-Based Compensation Share-based compensation expense for the periods indicated below is detailed as follows:
No cash was used by us to settle equity instruments granted under share-based compensation arrangements in any of the periods presented. We have not capitalized any share-based compensation costs as part of the cost of an asset in any of the periods presented. A summary of unrecognized compensation cost for unvested share-based compensation awards is as follows:
Stock Option Plans Stock Options A summary of stock options outstanding under our 2004 Stock Option Plan is set forth below.
Our stock options generally vest over four years and expire between and ten years from the date of the grant. Currently we also have options outstanding that vest over five years, as well as options outstanding that vest based on meeting certain market conditions. The exercise price of all our options is set at an amount that is not less than the closing price of our Common Shares on the NASDAQ on the trading day immediately preceding the applicable grant date. We estimate the fair value of stock options using the Black-Scholes option-pricing model or, where appropriate, the Monte Carlo pricing model, consistent with the provisions of ASC Topic 718, “Compensation—Stock Compensation” (Topic 718) and SEC Staff Accounting Bulletin No. 107. The option-pricing models require input of subjective assumptions, including the estimated life of the option and the expected volatility of the underlying stock over the estimated life of the option. We use historical volatility as a basis for projecting the expected volatility of the underlying stock and estimate the expected life of our stock options based upon historical data. We believe that the valuation techniques and the approach utilized to develop the underlying assumptions are appropriate in calculating the fair value of our stock option grants. Estimates of fair value are not intended, however, to predict actual future events or the value ultimately realized by employees who receive equity awards. A summary of activity under our stock option plans for the year ended June 30, 2025 is as follows:
For the periods indicated, the weighted-average fair value of options and weighted-average assumptions estimated under the Black-Scholes option-pricing model were as follows:
Performance Stock Options During the year ended June 30, 2025, we did not grant performance stock options (year ended June 30, 2024 and 2023—nil and 1,000,000 performance stock options, respectively). For the period in which performance stock options were granted, as indicated, the weighted-average fair value of performance stock options and weighted-average assumptions estimated under the Monte Carlo pricing model were as follows:
Summary of Stock Options and Performance Stock Options The aggregate intrinsic value of options exercised during the year ended June 30, 2025 was $0.4 million (year ended June 30, 2024 and 2023—$7.0 million and $1.8 million, respectively). For the year ended June 30, 2025, cash in the amount of $3.7 million was received as the result of the exercise of options granted under share-based compensation arrangements (year ended June 30, 2024 and 2023—$31.4 million and $7.8 million, respectively). The tax benefit realized by us during the year ended June 30, 2025 from the exercise of options eligible for a tax deduction was $0.1 million (year ended June 30, 2024 and 2023—$1.5 million and $0.3 million, respectively). Long-Term Incentive Plans We incentivize certain eligible employees, in part, with long-term compensation pursuant to our LTIP. The LTIP is a rolling three-year program that grants eligible employees a certain number of target Performance Share Units (PSUs) and/or Restricted Share Units (RSUs). Target PSUs become vested upon the achievement of certain financial and/or operational performance criteria (the Performance Conditions) that are determined at the time of the grant. The Performance Conditions for vesting of the outstanding PSUs are based on market conditions or performance-based revenue conditions. RSUs are employee service-based awards and vest subject to an eligible employee’s continued employment throughout the applicable vesting period. For the year ended June 30, 2025, we settled LTIP awards that vested by delivering to eligible participants 350,698 Common Shares that were purchased in the open market at a cost of $14.8 million. PSUs and RSUs granted under the LTIP have been measured at fair value as of the effective date, consistent with ASC Topic 718, and will be charged to share-based compensation expense over the remaining life of the plan. We estimate the fair value of PSUs with market-based conditions using the Monte Carlo pricing model and RSUs have been valued based upon their grant date fair value. The fair value of PSUs with performance-based conditions have been valued based upon their grant date fair value. Beginning in Fiscal 2023, certain PSU and RSU grants were eligible to receive dividend equivalent units that vest under the same conditions as the underlying grants. Performance Share Units (Issued Under LTIP) PSUs (issued under LTIP) vest after three years from the respective date of grants and upon the achievement of Performance Conditions determined at the time of the grant. A summary of activity under our PSUs issued under the LTIP for the year ended June 30, 2025 is as follows:
______________________ (1)PSUs are earned based on market or performance conditions and the actual number of PSUs earned, if any, is dependent upon performance and may range from 0 to 200 percent. For the periods indicated, the weighted-average fair value of market-based PSUs issued under LTIP, and weighted-average assumptions estimated under the Monte Carlo pricing model were as follows:
The weighted average fair value of the performance-based PSUs granted was $40.14 for the year ended June 30, 2024. The Company did not grant any performance-based PSUs for the years ended June 30, 2025 and 2023. Restricted Share Units (Issued Under LTIP) Beginning in Fiscal 2025, grants of RSUs (issued under LTIP) vest on a straight-line basis over three years from the respective date of grants. Grants of RSUs (issued under LTIP) prior to Fiscal 2025 vest after three years from the respective date of grants. A summary of activity under our RSUs issued under the LTIP for the year ended June 30, 2025 is as follows:
For the periods indicated, the weighted-average fair value and aggregate intrinsic value of RSUs (issued under LTIP) were as follows:
Restricted Share Units (Other) In addition to the grants made in connection with the LTIP discussed above, from time to time, we may grant RSUs to certain employees in accordance with employment and other non-LTIP related agreements. RSUs (other) vest over a specified contract date, typically or four years from the respective date of grants. A summary of activity under our RSUs (other) issued for the year ended June 30, 2025 is as follows:
For the periods indicated, the weighted-average fair value and intrinsic value of RSUs (other) were as follows:
During the year ended June 30, 2025, we delivered to eligible participants 2,459,944 Common Shares that were purchased in the open market in connection with the settlement of vested RSUs, at a cost of $87.6 million (year ended June 30, 2024 and 2023—1,576,565 and 400,210 Common Shares, respectively, with a cost of $70.7 million and $17.6 million). Deferred Share Units (DSUs) The DSUs are granted to certain non-employee directors. DSUs are issued under our Deferred Share Unit Plan. DSUs granted as compensation for director fees vest immediately, whereas all other DSUs granted vest at our next annual general meeting following the granting of the DSUs. No DSUs are payable by us until the director ceases to be a member of the Board. A summary of activity under our deferred share units issued for the year ended June 30, 2025 is as follows:
______________________ (1) Includes 47,871 unvested DSUs. (2) Includes 62,177 unvested DSUs. For the periods indicated, the weighted-average fair value and intrinsic value of DSUs were as follows:
During the year ended June 30, 2025, we settled 296,831 DSUs at a cost of $7.6 million (year ended June 30, 2024 and 2023—nil and 30,273 Common Shares, respectively, with a cost of nil and $1.1 million, respectively).
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GUARANTEES AND CONTINGENCIES |
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| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GUARANTEES AND CONTINGENCIES | GUARANTEES AND CONTINGENCIES We have entered into the following contractual obligations with minimum payments for the indicated fiscal periods as follows:
______________________ (1)Includes interest up to maturity and principal payments. See Note 11 “Long-Term Debt” for more details. (2)For more details on contractual obligations relating to leases and purchase obligations accounted for under ASC Topic 842, see Note 6 “Leases.” Guarantees and Indemnifications We have entered into customer agreements which may include provisions to indemnify our customers against third-party claims that our software products or services infringe certain third-party intellectual property rights and for liabilities related to a breach of our confidentiality obligations. We have not made any material payments in relation to such indemnification provisions and have not accrued any liabilities related to these indemnification provisions in our Consolidated Financial Statements. Occasionally, we enter into financial guarantees with third parties in the ordinary course of our business, including, among others, guarantees relating to taxes and letters of credit on behalf of parties with whom we conduct business. Such agreements have not had a material effect on our results of operations, financial position or cash flows. Litigation We are currently involved in various claims and legal proceedings. Quarterly, we review the status of each significant legal matter and evaluate such matters to determine how they should be treated for accounting and disclosure purposes in accordance with the requirements of ASC Topic 450-20 “Loss Contingencies” (Topic 450-20). Specifically, this evaluation process includes the centralized tracking and itemization of the status of all our disputes and litigation items, discussing the nature of any litigation and claim, including any dispute or claim that is reasonably likely to result in litigation, with relevant internal and external counsel, and assessing the progress of each matter in light of its merits and our experience with similar proceedings under similar circumstances. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, we accrue a liability for the estimated loss in accordance with Topic 450-20. As of the date of this Annual Report on Form 10-K, the aggregate of such accrued liabilities was not material to our consolidated financial position or results of operations and we do not believe as of the date of this filing that it is reasonably possible that a loss exceeding the amounts already recognized will be incurred that would be material to our consolidated financial position or results of operations. As described more fully below, we are unable at this time to estimate a possible loss or range of losses in respect of certain disclosed matters. Contingencies CRA Matter As part of its ongoing audit of our Canadian tax returns, the Canada Revenue Agency (CRA) has disputed our transfer pricing methodology used for certain intercompany transactions with our international subsidiaries and has issued notices of reassessment for Fiscal 2012, Fiscal 2013, Fiscal 2014, Fiscal 2015 and Fiscal 2016. Assuming the utilization of available tax attributes (further described below), we estimate our potential aggregate liability, as of June 30, 2025, in connection with the CRA’s reassessments for Fiscal 2012, Fiscal 2013, Fiscal 2014, Fiscal 2015 and Fiscal 2016, to be limited to penalties, interest and provincial taxes that may be due of approximately $86.0 million. As of June 30, 2025, we have provisionally paid approximately $32.0 million in order to fully preserve our rights to object to the CRA’s audit positions, being the minimum payment required under Canadian legislation while the matter is in dispute. This amount is recorded within Long-term income taxes recoverable on the Consolidated Balance Sheets as of June 30, 2025. The notices of reassessment for Fiscal 2012, Fiscal 2013, Fiscal 2014, Fiscal 2015 and Fiscal 2016 would, as drafted, increase our taxable income by approximately $90 million to $100 million for each of those years, as well as impose a 10% penalty on the proposed adjustment to income. Audits by the CRA of our tax returns for fiscal years prior to Fiscal 2012 have been completed with no reassessment of our income tax liability. We strongly disagree with the CRA's positions and believe the reassessments of Fiscal 2012, Fiscal 2013, Fiscal 2014, Fiscal 2015 and Fiscal 2016 (including any penalties) are without merit, and we are continuing to contest these reassessments. On June 30, 2022, we filed a notice of appeal with the Tax Court of Canada seeking to reverse all such reassessments (including penalties) in full and the customary court process is ongoing. Even if we are unsuccessful in challenging the CRA's reassessments to increase our taxable income for Fiscal 2012, Fiscal 2013, Fiscal 2014, Fiscal 2015 and Fiscal 2016, we have elective deductions available for those years (including carry-backs from later years) that would offset such increased amounts so that no additional cash tax would be payable, exclusive of any assessed penalties and interest, as described above. The CRA has audited Fiscal 2017, Fiscal 2018, Fiscal 2019 and Fiscal 2020 on a basis that we strongly disagree with and are contesting. The focus of the CRA audit has been the valuation of certain intellectual property and goodwill when one of our subsidiaries continued into Canada from Luxembourg in July 2016. In accordance with applicable rules, these assets were recognized for tax purposes at fair market value as of that time, which value was supported by an expert valuation prepared by an independent leading accounting and advisory firm. CRA’s position for Fiscal 2017 through Fiscal 2020 relies in significant part on the application of its positions regarding our transfer pricing methodology that are the basis for its reassessment of our fiscal years 2012 to 2016 described above, and that we believe are without merit. Other aspects of CRA’s position for Fiscal 2017 through Fiscal 2020 conflict with the expert valuation prepared by the independent leading accounting and advisory firm that was used to support our original filing position. The CRA issued notices of reassessment in respect of Fiscal 2017 through Fiscal 2020 on a basis consistent with its proposal to reduce the available depreciable basis of assets in Canada. We have filed notices of objection to the reassessments for each of these years. If we are ultimately unsuccessful in defending our position, the estimated impact of the proposed adjustment could result in us recording an income tax expense, with no immediate cash payment, to reduce the stated value of our deferred tax assets of up to approximately $470 million. Any such income tax expense could also have a corresponding cash tax impact that would primarily occur over a period of several future years based upon annual income realization in Canada. We strongly disagree with the CRA’s position for Fiscal 2017 through Fiscal 2020 and intend to vigorously defend our original filing position. We are not required to provisionally pay any cash amounts to the CRA as a result of the reassessment in respect of Fiscal 2017 through Fiscal 2019 due to utilization of available tax attributes; however, for Fiscal 2020 and, to the extent the CRA reassesses subsequent fiscal years on a similar basis, we may be required to make certain minimum payments required under Canadian legislation on a provisional basis while the matter remains in dispute. We will continue to vigorously contest the adjustments to our taxable income and any penalty and interest assessments, as well as any reduction to the basis of our depreciable property. We are confident that our original tax filing positions were appropriate. Accordingly, as of the date of this Annual Report on Form 10-K, we have not recorded any accruals in respect of these reassessments or proposed reassessment in our Consolidated Financial Statements. Other Matters Also see Part I, Item 1A, “Risk Factors” in this Annual Report on Form 10-K for Fiscal 2025, as well as Note 15 “Income Taxes” related to certain historical matters arising prior to the Micro Focus Acquisition.
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INCOME TAXES | INCOME TAXES The Company’s effective tax rate represents the net effect of the mix of income earned in various tax jurisdictions that are subject to a wide range of income tax rates. A reconciliation of the combined Canadian federal and provincial income tax rate with our effective income tax rate is as follows:
(1)The decrease in valuation allowance in Fiscal 2025 relates to the recognition of assets previously not recognized as compared to the increase in valuation allowance in Fiscal 2024 due to assets no longer meeting the recognition criteria as a result of the AMC Divestiture. (2)Fiscal 2025 benefit primarily relates to statute of limitation expirations as compared to Fiscal 2024. (3)The change in foreign tax credits and U.S. BEAT in Fiscal 2025, compared to Fiscal 2024, is primarily driven by the AMC Divestiture. (4)The benefit in the current year is related to book to tax filing adjustments for Fiscal 2024 and prior years. (5)The impact of internal reorganizations in Fiscal 2025 is primarily related to legal entity rationalization activity, as compared to Fiscal 2024 in which significant gains from the AMC Divestiture were recognized. The following is a geographical breakdown of income before the provision for income taxes:
The provision for (recovery of) income taxes consisted of the following:
The primary components of the deferred tax assets and liabilities are as follows, for the periods indicated below:
As of June 30, 2025, we have $313.3 million of domestic non-capital loss carryforwards. In addition, we have $2.9 billion of foreign non-capital loss carryforwards, which includes $414.6 million of U.S. state loss carryforwards. $425.5 million of the foreign non-capital loss carryforwards have no expiry date, which includes $53.1 million of U.S. state loss carryforwards. The remainder of the domestic and foreign losses expire between 2026 and 2044. In addition, investment tax credits of $88.5 million will expire between 2028 and 2045. We believe that sufficient uncertainty exists regarding the realization of certain deferred tax assets that a valuation allowance is required. We continue to evaluate our taxable position quarterly and consider factors by taxing jurisdiction, including but not limited to factors such as estimated taxable income, any historical experience of losses for tax purposes and the future growth of OpenText. As of June 30, 2025 and 2024, the Company had a valuation allowance on its domestic and foreign deferred tax assets of $651.8 million and $662.7 million, respectively. The balance as of June 30, 2025 consisted of $9.8 million and $642.0 million against the Company’s domestic and foreign deferred tax assets, respectively, which, the Company believes, are not more likely than not to be utilized in future years. The valuation allowance decreased in Fiscal 2025 by $10.9 million primarily related to utilization of interest carryovers and expiration of net operating loss carryovers. The aggregate changes in the balance of our gross unrecognized tax benefits (including interest and penalties) were as follows:
Included in the above tabular reconciliation are unrecognized tax benefits of $56.0 million as of June 30, 2025 (June 30, 2024—$63.0 million) relating to tax attributes in which the unrecognized tax benefit has been recorded as a reduction to the deferred tax asset. The net unrecognized tax benefit excluding these deferred tax assets is $83.8 million as of June 30, 2025 (June 30, 2024—$117.4 million). We recognize interest expense and penalties related to income tax matters in income tax expense. For the year ended June 30, 2025, 2024 and 2023, respectively, we recognized the following amounts on uncertain tax positions as income tax-related interest expense and penalties:
The following amounts have been accrued on account of income tax-related interest expense and penalties:
______________________ (1)These balances are primarily included within Long-term income taxes payable within the Consolidated Balance Sheets. We believe that it is reasonably possible that the gross unrecognized tax benefits, as of June 30, 2025, could decrease tax expense in the next 12 months by $27.3 million, relating primarily to the expiration of competent authority relief and tax years becoming statute barred for purposes of future tax examinations by local taxing jurisdictions. We are subject to income tax audits in all major taxing jurisdictions in which we operate. Our four most significant tax jurisdictions are Canada, the United States, the United Kingdom and Germany. Our tax filings remain subject to audits by applicable tax authorities for a certain length of time following the tax year to which those filings relate. We currently have income tax audits open in Canada, the United States, the United Kingdom, Germany and other immaterial jurisdictions. The earliest fiscal years open for examination for our major jurisdictions are 2012 for Canada, 2021 for the United States, 2015 for the United Kingdom and 2016 for Germany. On a quarterly basis we assess the status of these examinations and the potential for adverse outcomes to determine the adequacy of the provision for income and other taxes. Statements regarding the Canada audits are included in Note 14 “Guarantees and Contingencies.” The timing of the resolution of income tax audits is highly uncertain, and the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ from the amounts accrued. It is reasonably possible that within the next 12 months we will receive additional assessments by various tax authorities or possibly reach resolution of income tax audits in one or more jurisdictions. These assessments or settlements may or may not result in changes to our contingencies related to positions on tax filings. The actual amount of any change could vary significantly depending on the ultimate timing and nature of any settlements. We cannot currently provide an estimate of the range of possible outcomes. For more information relating to certain income tax audits, refer to Note 14 “Guarantees and Contingencies.” On July 4, 2025, the One Big Beautiful Bill Act (the OBBBA) was enacted, introducing amendments to U.S. tax laws with various effective dates. Key income tax-related provisions of the OBBBA include provisions related to bonus depreciation, research and development expenditures, interest expense deductibility, and revisions to international tax regimes. The Company is currently assessing the future implications of these tax law changes. As of June 30, 2025, we have recognized a deferred income tax liability of $20.0 million (June 30, 2024—$15.9 million) on taxable temporary differences related to the undistributed earnings of certain non-United States subsidiaries and planned periodic repatriations from certain German subsidiaries, that will be subject to withholding taxes upon distribution. We have not provided for additional foreign withholding taxes or deferred income tax liabilities related to undistributed earnings of all other non-Canadian subsidiaries, since such earnings are considered permanently invested in those subsidiaries or are not subject to withholding taxes. It is not practicable to reasonably estimate the amount of additional deferred income tax liabilities or foreign withholding taxes that may be payable should these earnings be distributed in the future. State Aid Matter As of June 30, 2024, the Company had a long-term income tax receivable related to the payment it made in regard to a State Aid charging notice it received as a result of the European Commission’s final decision on its State Aid investigation into the UK’s “Financing Company Partial Exemption” legislation where it concluded that part of the legislation was in breach of the EU State Aid rules. Micro Focus, along with the UK government and certain other UK-based international companies, appealed the decision to the General Court of the Court of Justice of the European Union (CJEU). The CJEU’s judgment was handed down on September 19, 2024. The CJEU broadly followed the Advocate General’s opinion, setting aside the judgment of the General Court and annulling the Commission’s ruling. As a result, a refund of the State Aid charging notice, in the amount of $43.8 million plus interest of $4.0 million, was received in March 2025.
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FAIR VALUE MEASUREMENT |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FAIR VALUE MEASUREMENT | FAIR VALUE MEASUREMENT ASC Topic 820 “Fair Value Measurement” (Topic 820) defines fair value, establishes a framework for measuring fair value, and addresses disclosure requirements for fair value measurements. Fair value is the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability. The fair value, in this context, should be calculated based on assumptions that market participants would use in pricing the asset or liability, not on assumptions specific to the entity. In addition, the fair value of liabilities should include consideration of non-performance risk, including our own credit risk. In addition to defining fair value and addressing disclosure requirements, Topic 820 establishes a fair value hierarchy for valuation inputs. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. Each fair value measurement is reported in one of the three levels which are determined by the lowest level input that is significant to the fair value measurement in its entirety. These levels are: •Level 1—inputs are based upon unadjusted quoted prices for identical instruments traded in active markets. •Level 2—inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. •Level 3—inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models and similar techniques. Financial Assets and Liabilities Measured at Fair Value: Our cash and cash equivalents, along with our accounts receivable and accounts payable and accrued liabilities balances, are measured and recognized in our Consolidated Financial Statements at an amount that approximates the fair value (a Level 2 measurement) due to their short maturities. The carrying value of our other long-term debt facilities approximates the fair value since the interest rate is at market. See Note 11 “Long-Term Debt” for further details. The following table summarizes the fair value of the Company’s financial instruments as of June 30, 2025 and 2024:
______________________ (1)Senior Notes are presented within the Consolidated Balance Sheets at amortized cost. See Note 11 “Long-Term Debt” for further details. Changes in Level 3 Fair Value Measurements The following table provides a reconciliation of changes in the fair value of our Level 3 available-for-sale financial assets between June 30, 2024 and June 30, 2025.
Our derivative liabilities and our derivative assets are classified as Level 2 and are comprised of foreign currency forward and swap contracts. Our valuation techniques used to measure the fair values of the derivative instruments, the counterparties to which have high credit ratings, were derived from pricing models including discounted cash flow techniques, with all significant inputs derived from or corroborated by observable market data, as no quoted market prices exist for these instruments. Our discounted cash flow techniques use observable market inputs, such as, where applicable, foreign currency spot and forward rates. Our available-for-sale financial assets are classified as either Level 2 or Level 3. Our Level 2 available-for-sale financial assets are comprised primarily of various debt and equity funds, which are valued utilizing market quotes provided by our third-party custodian. Our Level 3 available-for-sale financial assets are comprised of insurance contracts which are valued by an external insurance expert by applying a discount rate to the future cash flows and taking into account the fixed interest rate, mortality rates and term of the insurance contracts. See Note 9 “Prepaid Expenses and Other Assets” for further details. If applicable, we will recognize transfers between levels within the fair value hierarchy at the end of the reporting period in which the actual event or change in circumstance occurs. During the year ended June 30, 2025 and 2024, respectively, we did not have any transfers between Level 1, Level 2 or Level 3. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis We measure certain assets and liabilities at fair value on a nonrecurring basis. These assets and liabilities are recognized at fair value when they are deemed to be other-than-temporarily impaired. During the year ended June 30, 2025 and 2024, respectively, no indications of impairments were identified and therefore no fair value measurements were required.
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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES Non-designated Hedges In connection with the Micro Focus Acquisition, in August 2022, we entered into certain derivative transactions to meet certain foreign currency obligations under UK cash confirmation requirements related to the purchase price of the Micro Focus Acquisition, mitigate the risk of foreign currency appreciation in the GBP denominated purchase price and mitigate the risk of foreign currency appreciation in the EUR denominated existing debt held by Micro Focus. We entered into the following derivatives: (i) three deal-contingent forward contracts, (ii) a non-contingent forward contract, and (iii) EUR/USD cross currency swaps. The deal-contingent forward contracts had an aggregate notional amount of £1.475 billion. The non-contingent forward contract had a notional amount of £350 million. The cross currency swaps are comprised of 5-year EUR/USD cross currency swaps with a notional amount of €690 million and 7-year EUR/USD cross currency swaps with a notional amount of €690 million. On January 7, 2025, we terminated certain of our outstanding 5-year EUR/USD cross currency swaps with an aggregate notional amount of €138 million and made a termination payment of approximately $10.4 million on January 9, 2025. These instruments were entered into as economic hedges to mitigate foreign currency risks associated with the Micro Focus Acquisition. The instruments did not initially qualify for hedge accounting at the time they were entered into. In connection with the closing of the Micro Focus Acquisition, the deal-contingent forward and non-deal contingent forward contracts were settled, and we designated the 7-year EUR/USD cross currency swaps as net investment hedges (see further details below). The 5-year EUR/USD cross currency swaps are non-designated and are measured at fair value with changes to fair value being recognized in the Consolidated Statements of Income within Other income (expense), net. Net Investment Hedge During the third quarter of Fiscal 2023, the Company designated the €690 million of 7-year EUR/USD cross currency swaps as net investment hedges in accordance with “Derivatives and Hedging” (Topic 815). The Company utilizes the designated cross currency swaps to protect our EUR-denominated operations against exchange rate fluctuations. The Company assesses the hedge effectiveness of its net investment hedges on a quarterly basis utilizing a method based on the changes in spot price. As such, for derivative instruments designated as net investment hedges, changes in fair value of the designated hedging instruments attributable to fluctuations in the foreign currency spot exchange rates are initially recorded as a component of currency translation adjustments included within Consolidated Statements of Comprehensive Income until the hedged foreign operations are either sold or substantially liquidated. In accordance with Topic 815 certain components of the designated cross currency swaps relating to counterparty credit risk and forward exchange rates were excluded from the above effectiveness assessment. The fair value of these excluded components will be amortized over the life of the hedging instruments within Interest and other related expense, net within the Consolidated Statements of Income. Additionally, we will record the cash flows related to the periodic interest settlements on the 7-year EUR/USD cross currency swaps within the investing activities section of the Consolidated Statements of Cash Flows. Any gains or losses recognized upon settlement of the cross currency swaps will be recorded within the investing activities section of the Consolidated Statements of Cash Flows. Cash Flow Hedge We are engaged in hedging programs with various banks to limit the potential foreign exchange fluctuations incurred on future cash flows relating to a portion of our Canadian dollar payroll expenses. We operate internationally and are therefore exposed to foreign currency exchange rate fluctuations in the normal course of our business, in particular to changes in the Canadian dollar on account of large costs that are incurred from our centralized Canadian operations, which are denominated in Canadian dollars. As part of our risk management strategy, we use foreign currency forward contracts to hedge portions of our payroll exposure with typical maturities of between and twelve months. We do not use foreign currency forward contracts for speculative purposes. We have designated these transactions as cash flow hedges of forecasted transactions under Topic 815. As the critical terms of the hedging instrument and of the entire hedged forecasted transaction are the same, in accordance with Topic 815, we have been able to conclude that changes in fair value or cash flows attributable to the risk being hedged are expected to completely offset at inception and on an ongoing basis. Accordingly, quarterly unrealized gains or losses on the effective portion of these forward contracts have been included within Other comprehensive income (loss), net within the Consolidated Statements of Comprehensive Income. As of June 30, 2025, the fair value of the contracts is recorded within Prepaid expenses and other current assets within the Consolidated Balance Sheets and represents the net gain before tax effect that is expected to be reclassified from accumulated other comprehensive income (loss) into earnings within the next twelve months. As of June 30, 2025, the notional amount of forward contracts we held to sell U.S. dollars in exchange for Canadian dollars was $93.5 million (June 30, 2024—$95.7 million). Fair Value of Derivative Instruments and Effect of Derivative Instruments on Financial Performance The fair values of outstanding derivative instruments are as follows:
The effects of gains (losses) from derivative instruments on our Consolidated Statements of Income is as follows:
The effects of the cash flow and net investment hedges on our Consolidated Statements of Comprehensive Income:
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SPECIAL CHARGES (RECOVERIES) |
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| Restructuring, Settlement and Impairment Provisions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SPECIAL CHARGES (RECOVERIES) | SPECIAL CHARGES (RECOVERIES) Special charges (recoveries) include costs and recoveries that relate to certain restructuring initiatives that we have undertaken from time to time under our various restructuring plans, as well as acquisition-and divestiture-related costs and other similar charges.
Business Optimization Plan During the first quarter of Fiscal 2025, we made a strategic decision to align the Company’s workforce to support its growth and innovation plans (the Business Optimization Plan). The Business Optimization Plan charges relate to facility costs and workforce reductions. During the fourth quarter of Fiscal 2025, the Board approved an expansion of the Business Optimization Plan to complete strategic initiatives, integration and simplification following the Micro Focus acquisition, AMC Divestiture and other growth and innovation plans including the deployment of AI and automation. This expansion includes costs associated with workforce reduction due to automation, centralization and simplification, and corresponding facility costs related to a reduction of our real estate footprint globally. These charges require management to make certain judgments and estimates regarding the amount and timing of restructuring charges or recoveries. Our estimated liability could change subsequent to its recognition, requiring adjustments to the expense and the liability recorded. On a quarterly basis, we conduct an evaluation of the related liabilities and expenses and revise our assumptions and estimates as appropriate. As of June 30, 2025, we expect total costs to be incurred in connection with the Business Optimization Plan to be approximately $260.0 million, of which $127.9 million was recorded within Special charges (recoveries) within the Consolidated Statements of Income. The entire Business Optimization Plan is expected to be substantially completed by the second quarter of Fiscal 2027. A reconciliation of the beginning and ending restructuring liability for the Business Optimization Plan, which is included within Accounts payable and accrued liabilities in our Consolidated Balance Sheets, for the year ended June 30, 2025 is shown below.
Micro Focus Acquisition Restructuring Plan During the third quarter of Fiscal 2023, as part of the Micro Focus Acquisition, we made a strategic decision to implement restructuring activities to reduce our overall workforce and further reduce our real estate footprint around the world (Micro Focus Acquisition Restructuring Plan). The Micro Focus Acquisition Restructuring Plan charges relate to facility costs and workforce reductions. Facility costs include the accelerated amortization associated with the abandonment of right of use assets, the write-off of property and equipment and other related variable lease and exit costs. These charges require management to make certain judgments and estimates regarding the amount and timing of restructuring charges or recoveries. Our estimated liability could change subsequent to its recognition, requiring adjustments to the expense and the liability recorded. On a quarterly basis, we conduct an evaluation of the related liabilities and expenses and revise our assumptions and estimates as appropriate. Since the inception of the Micro Focus Acquisition Restructuring Plan, $148.1 million has been recorded within Special charges (recoveries) within the Consolidated Statements of Income to date. We do not expect to incur any further significant charges relating to the Micro Focus Acquisition Restructuring Plan. A reconciliation of the beginning and ending restructuring liability for the Micro Focus Acquisition Restructuring Plan, which is included within Accounts payable and accrued liabilities in our Consolidated Balance Sheets, for the year ended June 30, 2025 is shown below.
Divestiture-related costs Divestiture-related costs, recorded within Special charges (recoveries), include the direct costs related to the AMC Divestiture. For the year ended June 30, 2025, divestiture-related costs were $4.8 million (year ended June 30, 2024 and 2023—$46.6 million and nil, respectively). Acquisition-related costs Acquisition-related costs, recorded within Special charges (recoveries) include direct costs of potential and completed acquisitions. Acquisition-related costs for the year ended June 30, 2025 were $2.3 million (year ended June 30, 2024 and 2023—$2.0 million and $48.9 million, respectively). Other charges (recoveries) For the year ended June 30, 2025, Other charges (recoveries) includes $10.3 million of other miscellaneous charges, primarily associated with the Micro Focus Acquisition. For the year ended June 30, 2024, Other charges (recoveries) includes $5.5 million of compensation related charges and $5.8 million of other miscellaneous charges, both associated with the Micro Focus Acquisition along with $1.3 million related to pre-acquisition equity incentives of Zix, which upon acquisition were replaced by equivalent value cash settlements (see Note 19 “Acquisitions and Divestitures” for more details). For the year ended June 30, 2023, Other charges (recoveries) includes $23.0 million of severance charges, $11.8 million of other miscellaneous charges, both associated with the Micro Focus Acquisition and $8.3 million related to pre-acquisition equity incentives of Zix, which upon acquisition were replaced by equivalent value cash settlements (see Note 19 “Acquisitions and Divestitures”).
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ACQUISITIONS AND DIVESTITURES |
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| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACQUISITIONS AND DIVESTITURES | ACQUISITIONS AND DIVESTITURES Fiscal 2024 Divestiture Divestiture of AMC Business On May 1, 2024, the Company completed the sale of its AMC business to Rocket Software for $2.275 billion in cash before taxes, fees and other adjustments. The results of the AMC business were recorded and presented within our Consolidated Financial Statements during Fiscal 2024 for the period of July 1, 2023 through April 30, 2024. In connection with the sale, a gain of $429.1 million was recorded in within our Consolidated Statements of Income for the year ended June 30, 2024. During the quarter ended December 31, 2024, working capital and other adjustments were finalized, which resulted in a payment of $11.7 million, and a decrease to the gain on the AMC Divestiture by $4.2 million. The Company determined that the AMC business did not constitute a component, as its operations and cash flows cannot be clearly distinguished from the rest of the Company’s operations and cash flows due to significant shared costs, therefore, the transaction did not meet the discontinued operations criteria, and the results of operations from the AMC business are presented within Income from operations in our Consolidated Statements of Income up to the date of disposition. The Company used the net proceeds from the transaction to prepay in full the outstanding principal balances of the Term Loan B and prepay a portion of the outstanding principal balance of the Acquisition Term Loan, as further described in Note 11 “Long-Term Debt.” The Company also agreed to provide certain transition services to Rocket Software following the completion of the divestiture for up to 24 months after the closing date of May 1, 2024, which are included in financing activities on the Consolidated Statements of Cash Flows. These transition service costs are reimbursable by Rocket Software. For Fiscal 2025, we billed Rocket Software $31.6 million under the Transition Services Agreement. The transition services were completed as of June 30, 2025. The finalization of working capital and other adjustments during the quarter ended December 31, 2024, resulted in immaterial changes to the carrying amounts of major classes of assets and liabilities. The following table presents the carrying amounts of major classes of assets and liabilities disposed of in the AMC Divestiture as of April 30, 2024:
Fiscal 2024 Acquisitions Other Acquisitions On August 23, 2023, we acquired all of the equity interest in KineMatik Ltd. (KineMatik), a provider of automated business process and project management solutions built on OpenText’s Content Server. In accordance with ASC Topic 805, “Business Combinations”, this acquisition was accounted for as a business combination. The results of operations of KineMatik have been consolidated with those of OpenText beginning August 24, 2023. The results of KineMatik are not considered to be material to our business. On May 22, 2024, we acquired Pillr, a cloud native, multi-tenant Managed Detection and Response platform from Novacoast, Inc. for Managed Service Providers that includes powerful threat-hunting capabilities. In accordance with ASC Topic 805, “Business Combinations”, this acquisition was accounted for as a business combination. The results of operations of Pillr have been consolidated with those of OpenText beginning May 22, 2024. The results of Pillr are not considered to be material to our business. Fiscal 2023 Acquisitions Acquisition of Micro Focus On January 31, 2023, we acquired all of the issued and to be issued share capital of Micro Focus for a total purchase price of $6.2 billion, inclusive of Micro Focus’ cash and repayment of Micro Focus’ outstanding indebtedness. The results of operations of Micro Focus have been consolidated with those of OpenText with effect from February 1, 2023. In connection with the financing of the Micro Focus Acquisition, concurrent with the announcement of the acquisition on August 25, 2022, the Company entered into the Acquisition Term Loan and a now-terminated bridge loan as well as certain derivative transactions. On December 1, 2022, the Company issued and sold $1 billion in aggregate principal amount of 6.90% Senior Secured Notes 2027, amended the Acquisition Term Loan and terminated its bridge loan. On January 31, 2023, we drew down the entire aggregate principal amount of $3.585 billion of the Acquisition Term Loan, net of original issuance discount and other fees, and drew down $450 million under the Revolver. We used these proceeds and cash on hand to fund the purchase price consideration and repayment of Micro Focus’ outstanding indebtedness. In conjunction with the closing of the Micro Focus Acquisition, the deal-contingent forward contracts and non-contingent forward contract, as described in Note 17 “Derivative Instruments and Hedging Activities,” were settled. The results of operations of Micro Focus have been consolidated with those of OpenText beginning February 1, 2023. Purchase Price Allocation The recognized amounts of identifiable assets acquired and liabilities assumed, based on their fair values as of January 31, 2023, are set forth below:
______________________ (1)The gross amount receivable was $418.2 million, of which $9.3 million of this receivable was expected to be uncollectible. (2)The goodwill of $3.4 billion is primarily attributable to the synergies expected to arise after the acquisition. There is $67.3 million of goodwill that is deductible for tax purposes. (3)Purchase price allocation adjustments of $32.1 million for the year ended June 30, 2024, were primarily driven by changes in other current assets and other liabilities related to adjustments of pre-acquisition other current assets and deferred tax liabilities. A settlement related to Micro Focus’ securities litigation that was agreed to prior to the Micro Focus Acquisition has been accrued as part of the liabilities assumed. This settlement, which received final court approval and is now resolved, was fully paid from insurance coverage, and therefore a receivable was recognized as part of the assets acquired. During the third quarter of Fiscal 2023, payment was made into escrow by insurers, and therefore both the associated receivable and liability are no longer included on the Consolidated Balance Sheets as of June 30, 2023. Acquisition-related costs for Micro Focus included in Special charges (recoveries) in the Consolidated Statements of Income for the year ended June 30, 2025 were nil (year ended June 30, 2024 and 2023—$1.1 million and $48.3 million). The amount of Micro Focus’ revenues and net loss included in our Consolidated Statements of Income for the year ended June 30, 2023 is set forth below:
______________________ (1)Net loss for the year ended includes one-time fees of approximately $82.9 million on account of special charges and $202.4 million of amortization charges relating to intangible assets. The unaudited pro forma revenues and net income of the combined entity for the year ended June 30, 2023, had the Micro Focus Acquisition been consummated on July 1, 2022, are set forth below:
______________________ (1)Included in the pro forma net loss for the year ended June 30, 2023, is a $448.2 million goodwill impairment recorded by Micro Focus in its pre-acquisition historical results as a result of the Company’s offer to acquire Micro Focus at a price of 532 pence per share. The unaudited pro forma financial information in the table above is presented for information purposes only and is not indicative of the results of operations that would have been achieved if the Micro Focus Acquisition had taken place at the beginning of the periods presented or the results that may be realized in the future.
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SEGMENT INFORMATION |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEGMENT INFORMATION | SEGMENT INFORMATION ASC Topic 280, “Segment Reporting” (Topic 280), establishes standards for reporting, by public business enterprises, information about operating segments, products and services, geographic areas and major customers. The method of determining what information, under Topic 280, to report is based on the way that an entity organizes operating segments for making operational decisions and how the entity’s management and CODM assess an entity’s financial performance. The Company adopted ASU 2023-07 in the fourth quarter of fiscal 2025 and applied the amendments of the ASU to the prior periods presented to conform with current presentation. See Note 2 “Accounting Policies and Recent Accounting Pronouncements” for details on the ASU. The Company’s CODM is its Chief Executive Officer. Our operations are analyzed by the CODM as being part of a single industry segment: the design, development, marketing and sale of Information Management software and solutions. As such, segment revenues and significant segment expenses are as presented in the Consolidated Statements of Income. The CODM uses Net income attributable to OpenText and Adjusted EBITDA (as defined below), a non-GAAP measure, on a consolidated Company basis to evaluate and measure financial performance and to make key decisions, including those that involve the preparation of financial projections, strategic decisions and allocation of resources. Adjusted EBITDA is defined and calculated as GAAP-based net income, attributable to OpenText, excluding interest income (expense), provision for (recovery of) income taxes, depreciation and amortization of acquired intangible assets, other income (expense), share-based compensation and special charges (recoveries). The following tables present Total revenue, significant segment expenses and Adjusted EBITDA for the years presented:
(1)Total Adjusted cost of revenues excludes Amortization of acquired technology-based intangible assets and share-based compensation expense, which are costs that are excluded from the CODM’s evaluation of segment performance. (2)Adjusted operating expenses exclude share-based compensation expense as this expense is excluded from our internal analysis of operating results. (3)The following adjustments are made to reconcile Adjusted EBITDA to Net income attributable to OpenText:
The following table sets forth the distribution of revenues, by significant geographic area, for the periods indicated:
______________________ (1)Total revenues by geographic area are determined based on the location of our direct customer. During the years ended June 30, 2025, 2024 and 2023, no single country other than the United States accounted for more than 10% of total revenues. (2)EMEA consists of countries in Europe, the Middle East and Africa. The following table sets forth the distribution of long-lived assets, representing property and equipment, ROU assets and intangible assets, by significant geographic area, as of the periods indicated below.
(1)As of June 30, 2025 and 2024, no single country other than the United States and United Kingdom accounted for more than 10% of total long-lived assets.
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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) |
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| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
______________________ (1)The amount of foreign currency translation recognized in other comprehensive income during the year ended June 30, 2025 and 2024 included net gains (losses) relating to our net investment hedge of $(73.1) million and $(0.3) million, respectively, as further discussed in Note 17 “Derivative Instruments and Hedging Activities.”
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SUPPLEMENTAL CASH FLOW DISCLOSURES |
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| SUPPLEMENTAL CASH FLOW DISCLOSURES | SUPPLEMENTAL CASH FLOW DISCLOSURES
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OTHER INCOME (EXPENSE), NET |
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| Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER INCOME (EXPENSE), NET | OTHER INCOME (EXPENSE), NET
______________________ (1)The year ended June 30, 2023 includes a foreign exchange gain of $36.6 million resulting from the delayed payment of a portion of the purchase consideration, settled on February 9, 2023, related to the Micro Focus Acquisition (see Note 19 “Acquisitions and Divestitures” for more details). (2)Represents the unrealized gains (losses) on our derivatives not designated as hedges (see Note 17 “Derivative Instruments and Hedging Activities” for more details). (3)Represents the realized gains (losses) on our derivatives not designated as hedges (see Note 17 “Derivative Instruments and Hedging Activities” for more details). (4)Represents our share in net income of equity investees, which approximates fair value and subject to volatility based on market trends and business conditions, based on our interest in certain investment funds in which we are a limited partner. Our interests in each of these investees range from 4% to below 20% and these investments are accounted for using the equity method (see Note 9 “Prepaid Expenses and Other Assets” for more details). (5)During the year ended June 30, 2024, the Company recognized a loss on debt extinguishment of $56.4 million related to the acceleration and recognition of unamortized debt discount and issuance costs resulting from the optional repayments and prepayments of the Acquisition Term Loan and Term Loan B in Fiscal 2024 (see Note 11 “Long-Term Debt” for more details). (6)On December 1, 2022, the Company amended the Acquisition Term Loan and Bridge Loan to reallocate commitments under the now-terminated bridge loan to the Acquisition Term Loan and terminated all remaining commitments under the now-terminated bridge loan which resulted in a loss on debt extinguishment related to unamortized debt issuance costs (see Note 11 “Long-Term Debt” for more details). (7)On May 1, 2024, the Company completed the sale of its AMC business, which resulted in a gain on disposition (see Note 19 “Acquisitions and Divestitures” for more details).
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EARNINGS PER SHARE |
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EARNINGS PER SHARE | EARNINGS PER SHARE Basic earnings per share are computed by dividing net income, attributable to OpenText, by the weighted average number of Common Shares outstanding during the period. Diluted earnings per share are computed by dividing net income, attributable to OpenText, by the shares used in the calculation of basic earnings per share plus the dilutive effect of Common Share equivalents, such as stock options, using the treasury stock method. Common Share equivalents are excluded from the computation of diluted earnings per share if their effect is anti-dilutive.
______________________ (1)Represents options to purchase Common Shares excluded from the calculation of diluted earnings per share because the exercise price of the stock options was greater than or equal to the average price of the Common Shares during the period.
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RELATED PARTY TRANSACTIONS |
12 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS Our procedure regarding the approval of any related party transaction requires that the material facts of such transaction be reviewed by the independent members of the Audit Committee and the transaction be approved by a majority of the independent members of the Audit Committee. The Audit Committee reviews all transactions in which we are, or will be, a participant and any related party has or will have a direct or indirect interest in the transaction. In determining whether to approve a related party transaction, the Audit Committee generally takes into account, among other facts it deems appropriate, whether the transaction is on terms no less favourable than terms generally available to an unaffiliated third-party under the same or similar circumstances; the extent and nature of the related person’s interest in the transaction; the benefits to the Company of the proposed transaction; if applicable, the effects on a director’s independence; and if applicable, the availability of other sources of comparable services or products. During the year ended June 30, 2025, 2024 and 2023, Mr. Stephen Sadler, a member of the Board of Directors, earned consulting fees from OpenText for assistance with acquisition-related business activities. The fees earned were not material. Mr. Sadler abstained from voting on all transactions from which he would potentially derive consulting fees.
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SUBSEQUENT EVENTS |
12 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Cash Dividends As part of our quarterly, non-cumulative cash dividend program, we declared, on August 6, 2025, a dividend of $0.2750 per Common Share. The record date for this dividend is September 5, 2025 and the payment date is September 19, 2025. Future declarations of dividends and the establishment of future record and payment dates are subject to the final determination and discretion of our Board. Share Repurchase Plan On August 6, 2025, the Company renewed its share repurchase plan, pursuant to which we may purchase for cancellation in open market transactions, from time to time over the 12 month period commencing on August 12, 2025 until August 11, 2026, if considered advisable, up to an aggregate of $300 million of its common shares on the TSX (as part of a Fiscal 2026 NCIB, defined below), the NASDAQ and/or alternative trading systems in Canada and/or the United States, if eligible, subject to applicable law and stock exchange rules (the Fiscal 2026 Repurchase Plan). The price that we are authorized to pay for Common Shares in open market transactions is the market price at the time of purchase or such other price as is permitted by applicable law or stock exchange rules. The Fiscal 2026 Repurchase Plan will be effected in accordance with Rule 10b-18 under the Exchange Act and includes a normal course issuer bid to provide means to execute purchases over the TSX. Normal Course Issuer Bid On August 6, 2025, the Company renewed its normal course issuer bid (the “Fiscal 2026 NCIB”) in order to provide it with a means to execute purchases over the TSX as part of the overall Fiscal 2026 Repurchase Plan. The TSX approved the Company’s notice of intention to commence the Fiscal 2026 NCIB, pursuant to which the Company may purchase Common Shares over the TSX for the period commencing on August 12, 2025 until August 11, 2026 in accordance with the TSX's normal course issuer bid rules, including that such purchases are to be made at prevailing market prices or as otherwise permitted. Under the rules of the TSX, the maximum number of Common Shares that may be purchased in this period is 24,906,456 (representing 10% of the Company’s public float calculated in accordance with TSX rules) as of July 31, 2025, and the maximum number of Common Shares that can be purchased on a single day is 224,146 Common Shares, which was 25% of 896,585 (calculated in accordance with TSX rules based on the average daily trading volume for the Common Shares on the TSX for the six months ended July 31, 2025), subject to certain exceptions for block purchases, and subject in any case to the volume and other limitations under Rule 10b-18 under the Exchange Act. Further, as part of the NCIB renewal, the Company has established an ASPP with its broker to facilitate repurchases of Common Shares.
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Insider Trading Arrangements |
3 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
Insider Trading Policies and Procedures |
12 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Insider Trading Policies and Procedures [Line Items] | |
| Insider Trading Policies and Procedures Adopted | true |
Cybersecurity Risk Management and Strategy Disclosure |
12 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | As a leader in Information Management and cybersecurity we recognize the importance of assessing, identifying, and managing risks associated with cybersecurity threats. These risks include, among other things, operational risks; intellectual property theft; fraud; extortion; harm to employees or customers; violation of privacy or security laws and other litigation and legal risk; and reputational risks. At OpenText, cybersecurity risk management is an integral part of our overall enterprise risk management program. Our cybersecurity risk management program aligns with industry best practices such as the National Institute of Standards and Technology (NIST) Cybersecurity Framework 2.0, and the International Organization for Standardization (ISO)/International Electro-technical Commission (IEC) ISO/IEC 27001 standard. This provides a framework for identifying, monitoring, evaluating, and responding to cybersecurity threats and incidents, including those associated with the use of our software, applications, services, and cloud and hybrid infrastructures developed or provided by third-party vendors and service providers. Our framework includes steps for identifying the source of a cybersecurity threat or incident, assessing the severity and risk of a cybersecurity threat or incident, implementing cybersecurity mitigation or remediation strategies, and informing our management and our Board of material cybersecurity threats and incidents. OpenText has a cross-functional incident response team, led by our cybersecurity team and comprised of representatives from our information technology, cybersecurity, finance, and legal teams. The cybersecurity team primarily is responsible for the monitoring and assessment of potential cybersecurity occurrences such as data breaches, intrusions, and other security incidents and implementing our detailed incident response plan. Our incident response plan includes processes and procedures for assessing potential internal and external threats, activation and notification, crisis management, and post-incident recovery designed to safeguard the confidentiality, availability, and integrity of the Company and our customers information assets. Our cybersecurity team is responsible for assessing our cybersecurity risk management program and our incident response plan. We have devoted significant financial and personnel resources to implement security measures to meet regulatory requirements and customer expectations, and we intend to continue to make investments to maintain the security of the Company and its customers data and Information Management infrastructure. We have also implemented a review process to assess the security profile and data protection practices of third-party service providers that have exposure to our systems. We review and update our cybersecurity policies, standards and procedures annually, or more frequently as needed, to account for changes in the threat landscape, as well as in response to legal and regulatory developments. Our internal audit department has a team responsible for IT and information security (including cybersecurity) audits. We also engage third-party cybersecurity consultants to conduct additional audits of our cybersecurity processes, provide assessments of our risk management programs and identify potential cybersecurity vulnerabilities. Our cybersecurity efforts also include mandatory training for all employees and contractors on OpenText’s security and privacy policies as well as other ancillary trainings on topics such as phishing emails and other social engineering tactics. In Fiscal 2025, we did not identify any cybersecurity threats or incidents or risks of such incidents that have materially affected or are reasonably likely to materially affect our business strategy, results of operations, or financial condition. However, despite our efforts, we cannot eliminate all risks from cybersecurity threats or incidents or provide assurances that we have not experienced an undetected cybersecurity incident. For more information about these risks, see “Risk Factors—Risks Related to our Business and Industry” in this Annual Report on Form 10-K.
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| Cybersecurity Risk Management Processes Integrated [Flag] | true |
| Cybersecurity Risk Management Processes Integrated [Text Block] | As a leader in Information Management and cybersecurity we recognize the importance of assessing, identifying, and managing risks associated with cybersecurity threats. These risks include, among other things, operational risks; intellectual property theft; fraud; extortion; harm to employees or customers; violation of privacy or security laws and other litigation and legal risk; and reputational risks. At OpenText, cybersecurity risk management is an integral part of our overall enterprise risk management program. Our cybersecurity risk management program aligns with industry best practices such as the National Institute of Standards and Technology (NIST) Cybersecurity Framework 2.0, and the International Organization for Standardization (ISO)/International Electro-technical Commission (IEC) ISO/IEC 27001 standard. This provides a framework for identifying, monitoring, evaluating, and responding to cybersecurity threats and incidents, including those associated with the use of our software, applications, services, and cloud and hybrid infrastructures developed or provided by third-party vendors and service providers. Our framework includes steps for identifying the source of a cybersecurity threat or incident, assessing the severity and risk of a cybersecurity threat or incident, implementing cybersecurity mitigation or remediation strategies, and informing our management and our Board of material cybersecurity threats and incidents.
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| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | false |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | Our Board of Directors is responsible for monitoring and assessing the Company’s cybersecurity risk management as part of its overall responsibility of risk oversight. The Board’s Audit Committee is responsible for overseeing risks related to our accounting, financial statements and financial reporting process, including the Company’s cybersecurity incident materiality assessment and relevant disclosures. For more information, see Part III, Item 11, “Board’s Role in Risk Oversight.”
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| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | Our CISO is responsible for day-to-day risk management activities, including identifying and assessing cybersecurity risks, establishing processes in an effort to ensure that potential cybersecurity risk exposures are monitored, implementing appropriate mitigation or remediation measures and maintaining cybersecurity programs. |
| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | Our CISO receives ongoing communication from relevant teams related to cybersecurity and is responsible for providing a single consolidated view of the Company’s enterprise cybersecurity risk in various industries. OpenText’s CISO reports to the Chief Digital Officer (CDO) who is responsible for OpenText’s broader IT program, which includes the Company’s ability to remediate and recover from a cybersecurity incident while minimizing impacts to the business and operations. Management, including the CDO, updates the Audit Committee and the Board of Directors on the Company’s cybersecurity programs, material cybersecurity risks, and mitigation or remediation strategies as needed or appropriate. |
| Cybersecurity Risk Role of Management [Text Block] | Our CISO is responsible for day-to-day risk management activities, including identifying and assessing cybersecurity risks, establishing processes in an effort to ensure that potential cybersecurity risk exposures are monitored, implementing appropriate mitigation or remediation measures and maintaining cybersecurity programs. Our CISO receives ongoing communication from relevant teams related to cybersecurity and is responsible for providing a single consolidated view of the Company’s enterprise cybersecurity risk in various industries. OpenText’s CISO reports to the Chief Digital Officer (CDO) who is responsible for OpenText’s broader IT program, which includes the Company’s ability to remediate and recover from a cybersecurity incident while minimizing impacts to the business and operations. Management, including the CDO, updates the Audit Committee and the Board of Directors on the Company’s cybersecurity programs, material cybersecurity risks, and mitigation or remediation strategies as needed or appropriate. |
| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | Our CISO is responsible for day-to-day risk management activities, including identifying and assessing cybersecurity risks, establishing processes in an effort to ensure that potential cybersecurity risk exposures are monitored, implementing appropriate mitigation or remediation measures and maintaining cybersecurity programs. |
| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | Our current Chief Information Security Officer (CISO) has over 20 years of experience architecting and directing global information security functions and possesses the requisite education, skills, experience, and industry certifications expected of an individual assigned to these duties. |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | Our CISO receives ongoing communication from relevant teams related to cybersecurity and is responsible for providing a single consolidated view of the Company’s enterprise cybersecurity risk in various industries. OpenText’s CISO reports to the Chief Digital Officer (CDO) who is responsible for OpenText’s broader IT program, which includes the Company’s ability to remediate and recover from a cybersecurity incident while minimizing impacts to the business and operations. Management, including the CDO, updates the Audit Committee and the Board of Directors on the Company’s cybersecurity programs, material cybersecurity risks, and mitigation or remediation strategies as needed or appropriate. |
| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |
ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS (Policies) |
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Use of estimates | Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires us to make certain estimates, judgments and assumptions that affect the amounts reported in the Consolidated Financial Statements. These estimates, judgments and assumptions are evaluated on an ongoing basis. We base our estimates on historical experience and on various other assumptions that we believe are reasonable at that time, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from those estimates. In particular, key estimates, judgments and assumptions include those related to: (i) revenue recognition, (ii) accounting for income taxes, (iii) testing of goodwill for impairment, (iv) the valuation of acquired intangible assets, (v) the valuation of long-lived assets, (vi) the recognition of contingencies, (vii) restructuring accruals, (viii) acquisition accruals and pre-acquisition contingencies, (ix) the valuation of stock options granted and obligations related to share-based compensation, including the valuation of our long-term incentive plans, (x) the valuation of pension obligations and pension assets, (xi) the valuation of available-for-sale investments and (xii) the valuation of derivative instruments.
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| Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents include balances with banks as well as deposits that have original terms to maturity of three months or less. Cash equivalents are recorded at cost and typically consist of term deposits, commercial paper, certificates of deposit and short-term interest-bearing investment-grade securities of major banks in the countries in which we operate.
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| Accounts Receivable and Allowance for Credit Losses | Accounts Receivable and Allowance for Credit Losses In accordance with ASC Topic 326, “Financial Instruments - Credit Losses” (Topic 326), we recognize expected credit losses for accounts receivable and contract assets based on lifetime expected losses. We recognize a loss allowance using a collective assessment for accounts receivable, including contract assets, with similar risk characteristics based on historical credit loss experience, adjusted for forward-looking factors specific to the debtors and economic environment. We continue to maintain an allowance for 100% of all accounts deemed to be uncollectible. Customer creditworthiness is evaluated prior to order fulfillment and based on evaluations, we adjust our credit limit to the respective customer. In addition to these evaluations, we conduct on-going credit evaluations of our customers’ payment history and current credit worthiness. To date, the actual losses have been within our expectations. No single customer accounted for more than 10% of the accounts receivable balance as of June 30, 2025 and 2024, respectively. From time to time, we may sell certain accounts receivable to a financial institution on a non-recourse basis for cash, less a discount. Proceeds from the sale of receivables approximate their discounted book value and are included in operating cash flows on the Consolidated Statements of Cash Flows.
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| Property and equipment | Property and equipment Property and equipment are stated at the lower of cost or net realizable value and shown net of depreciation which is computed on a straight-line basis over the estimated useful lives of the related assets. Gains and losses on asset disposals are taken into income in the year of disposition. Fully depreciated property and equipment are retired from the Consolidated Balance Sheets when they are no longer in use.
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| Capitalized Software | Capitalized Software We capitalize software development costs in accordance with ASC Topic 350-40, “Internal-Use Software.” We capitalize costs for software to be used internally when we enter the application development stage. This occurs when we complete the preliminary project stage, management authorizes and commits to funding the project, and it is feasible that the project will be completed, and the software will perform the intended function. We cease to capitalize costs related to a software project when it enters the post-implementation and operation stage. If different determinations are made with respect to the state of development of a software project, then the amount capitalized and the amount charged to expense for that project could differ materially. Costs capitalized during the application development stage consist of payroll and related costs for employees who are directly associated with, and who devote time directly to, a project to develop software for internal use. We also capitalize the direct costs of materials and services, which generally includes outside contractors, and interest. We do not capitalize any general and administrative or overhead costs or costs incurred during the application development stage related to training or data conversion costs. Costs related to upgrades and enhancements to internal-use software, if those upgrades and enhancements result in additional functionality, are capitalized. If upgrades and enhancements do not result in additional functionality, those costs are expensed as incurred. If different determinations are made with respect to whether upgrades or enhancements to software projects would result in additional functionality, then the amount capitalized and the amount charged to expense for that project could differ materially. We amortize capitalized costs with respect to development projects for internal-use software when the software is ready for use. The capitalized software development costs are generally amortized using the straight-line method over a 3 to 5 year period. In determining and reassessing the estimated useful life over which the cost incurred for the software should be amortized, we consider the effects of obsolescence, technology, competition and other economic factors. If different determinations are made with respect to the estimated useful life of the software, the amount of amortization charged in a particular period could differ materially.
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| Leases | Leases We enter into operating leases, both domestically and internationally, for certain facilities, automobiles, data centers and equipment for use in the ordinary course of business. During Fiscal 2023, as part of the Micro Focus Acquisition, we acquired certain finance leases primarily comprised of equipment leases, all of which are sublet. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets. In accordance with ASC Topic 842, “Leases” (Topic 842), we account for a contract as a lease when we have the right to direct the use of the asset for a period of time while obtaining substantially all of the asset’s economic benefits. We determine the initial classification and measurement of our right of use (ROU) assets and lease liabilities at the lease commencement date and thereafter if modified. ROU assets represent our right to control the underlying assets under lease, and the lease liability is our obligation to make the lease payments related to the underlying assets under lease, over the contractual term. ROU assets and lease liabilities are recognized on the Consolidated Balance Sheets based on the present value of future minimum lease payments to be made over the lease term. When available, we will use the rate implicit in the lease to discount lease payments to present value. However, real estate leases generally do not provide a readily determinable implicit rate, therefore, we must estimate our incremental borrowing rate to discount the lease payments. We estimate our incremental borrowing rate based on a collateralized basis with similar terms and payments, in an economic environment where the leased asset is located. The ROU asset equals the lease liability, adjusted for any initial direct costs, prepaid rent and lease incentives on initial recognition. Fixed lease costs are included in the recognition of ROU assets and lease liabilities. Variable lease costs are not included in the measurement of the lease liability. These variable lease payments are recognized in the Consolidated Statements of Income in the period in which the obligation for those payments is incurred. Lease expense for minimum lease payments continues to be recognized in the Consolidated Statements of Income on a straight-line basis over the lease term. We have not elected the practical expedient to combine lease and non-lease components in the determination of lease costs for our facility leases. For all other asset classes, we have elected the practical expedient to combine the lease and the non-lease components. The lease liability includes lease payments related to options to extend or renew the lease term only if we are reasonably certain we will exercise those options. Our leases typically do not contain any material residual value guarantees or restrictive covenants. In certain circumstances, we sublease all or a portion of a leased facility to various other companies through a sublease agreement. We enter into operating leases, both domestically and internationally, for certain facilities, automobiles, data centers and equipment for use in the ordinary course of business. The duration of the majority of these leases generally ranges from 1 to 10 years, some of which include options to extend for an additional 3 to 5 years after the initial term. Additionally, the land upon which our headquarters in Waterloo, Ontario, Canada is located is leased from the University of Waterloo for a period of 49 years beginning in December 2005, with an option to renew for an additional term of 49 years. We also have finance lease liabilities comprised of equipment lease arrangements with an average duration of 4 to 5 years of which all are currently being sublet. Leases with an initial term of 12 months or less are not recorded on our Consolidated Balance Sheets.
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| Business combinations | Business combinations We apply the provisions of ASC Topic 805, “Business Combinations” (Topic 805), in the accounting for our acquisitions. It requires us to recognize separately from goodwill the assets acquired and the liabilities assumed at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While we use our best estimates and assumptions to accurately value assets acquired and liabilities, including contingent consideration where applicable, assumed at the acquisition date, our estimates are inherently uncertain and subject to refinement, particularly since these assumptions and estimates are based in part on historical experience and information obtained from the management of the acquired companies. As a result, during the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill in the period identified. Furthermore, when valuing certain intangible assets that we have acquired, critical estimates may be made relating to, but not limited to: (i) future expected cash flows from software license sales, cloud SaaS, “desktop as a service” (DaaS) and PaaS contracts, support agreements, consulting agreements and other customer contracts (ii) the acquired company’s technology and competitive position, as well as assumptions about the period of time that the acquired technology will continue to be used in the combined company’s product portfolio, and (iii) discount rates. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments would be recorded to our Consolidated Statements of Income. For a given acquisition, we may identify certain pre-acquisition contingencies as of the acquisition date and may extend our review and evaluation of these pre-acquisition contingencies throughout the measurement period in order to obtain sufficient information to assess whether we include these contingencies as a part of the purchase price allocation and, if so, to determine the estimated amounts. If we determine that a pre-acquisition contingency (non-income tax related) is probable in nature and estimable as of the acquisition date, we record our best estimate for such a contingency as a part of the preliminary purchase price allocation. We often continue to gather information and evaluate our pre-acquisition contingencies throughout the measurement period and if we make changes to the amounts recorded or if we identify additional pre-acquisition contingencies during the measurement period, such amounts will be included in the purchase price allocation during the measurement period and, subsequently, in our results of operations. Uncertain tax positions and tax-related valuation allowances assumed in connection with a business combination are initially estimated as of the acquisition date. We review these items during the measurement period as we continue to actively seek and collect information relating to facts and circumstances that existed at the acquisition date. Changes to these uncertain tax positions and tax related valuation allowances made subsequent to the measurement period, or if they relate to facts and circumstances that did not exist at the acquisition date, are recorded in the Provision for income taxes line of our Consolidated Statements of Income.
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| Goodwill | Goodwill Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. The carrying amount of goodwill is periodically reviewed for impairment (at a minimum annually) and whenever events or changes in circumstances indicate that the carrying value of this asset may not be recoverable. Our operations are analyzed by management and our chief operating decision maker (CODM) as being part of a single industry segment: the design, development, marketing and sales of Information Management software and solutions. Therefore, our goodwill impairment assessment is based on the allocation of goodwill to a single reporting unit. We perform a qualitative assessment to test our reporting unit’s goodwill for impairment. Based on our qualitative assessment, if we determine that the fair value of our reporting unit is more likely than not (i.e., a likelihood of more than 50 percent) to be less than its carrying amount, the quantitative assessment of the impairment test is performed. In the quantitative assessment, we compare the fair value of our reporting unit to its carrying value. If the fair value of the reporting unit exceeds its carrying value, goodwill is not considered impaired and we are not required to perform further testing. If the carrying value of the net assets of our reporting unit exceeds its fair value, then an impairment loss equal to the difference, but not exceeding the total carrying value of goodwill allocated to the reporting unit, would be recorded. Our annual impairment analysis of goodwill was performed as of April 1, 2025. Our qualitative assessment indicated that there were no indications of impairment and therefore there was no impairment of goodwill required to be recorded for Fiscal 2025 (no impairments were recorded for Fiscal 2024 and Fiscal 2023, respectively).
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| Acquired intangibles | Acquired intangibles Acquired intangibles consist of acquired technology and customer relationships associated with various acquisitions. Acquired technology is initially recorded at fair value based on the present value of the estimated net future income-producing capabilities of software products acquired in acquisitions. We amortize acquired technology on a straight-line basis over its estimated useful life. Customer relationships represent relationships that we have with customers of the acquired companies and are either based upon contractual or legal rights or are considered separable; that is, capable of being separated from the acquired entity and being sold, transferred, licensed, rented or exchanged. These customer relationships are initially recorded at their fair value based on the present value of expected future cash flows. We amortize customer relationships on a straight-line basis over their estimated useful lives. We continually evaluate the remaining estimated useful life of our intangible assets being amortized to determine whether events and circumstances warrant a revision to the remaining period of amortization.
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| Impairment of long-lived assets | Impairment of long-lived assets We account for the impairment and disposition of long-lived assets in accordance with ASC Topic 360, “Property, Plant, and Equipment” (Topic 360). We test long-lived assets or asset groups, such as property and equipment, ROU assets and definite lived intangible assets, for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant adverse changes in the business climate or legal factors; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and a current expectation that the asset will more likely than not be sold or disposed of before the end of its estimated useful life. Recoverability is assessed based on comparing the carrying amount of the asset to the aggregate pre-tax undiscounted cash flows expected to result from the use and eventual disposal of the asset or asset group. Impairment is recognized when the carrying amount is not recoverable and exceeds the fair value of the asset or asset group. The impairment loss, if any, is measured as the amount by which the carrying amount exceeds fair value, which for this purpose is based upon the discounted projected future cash flows of the asset or asset group.
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| Derivative financial instruments | Derivative financial instruments We use derivative financial instruments to manage foreign currency rate risk. We account for these instruments in accordance with ASC Topic 815, “Derivatives and Hedging” (Topic 815), which requires that every derivative instrument be recorded on the balance sheet as either an asset or liability measured at its fair value as of the reporting date. Topic 815 also requires that changes in our derivative financial instruments’ fair values be recognized in earnings; unless specific hedge accounting and documentation criteria are met (i.e., the instruments are accounted for as hedges). We recorded the effective portions of the gain or loss on derivative financial instruments that were designated as cash flow hedges in Accumulated other comprehensive income (loss), net of tax, in our accompanying Consolidated Balance Sheets. Any ineffective or excluded portion of a designated cash flow hedge, if applicable, was recognized in our Consolidated Statements of Income. In Fiscal 2023, we entered into certain derivative financial instruments, a portion of which were designated as a net investment hedge. In accordance with Topic 815, we recorded the effective portion of the gain or loss on derivative financial instruments that were designated as a net investment hedge within our currency translation adjustment component of Accumulated other comprehensive income (loss), in our accompanying Consolidated Balance Sheets. Any ineffective or excluded portion of our net investment hedge, if applicable, is recognized in Interest and other related expense, net of our Consolidated Statements of Income. See Note 17 “Derivative Instruments and Hedging Activities” for more details.
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| Asset retirement obligations | Asset retirement obligations We account for asset retirement obligations in accordance with ASC Topic 410, “Asset Retirement and Environmental Obligations” (Topic 410), which applies to certain obligations associated with “leasehold improvements” within our leased office facilities. Topic 410 requires that a liability be initially recognized for the estimated fair value of the obligation when it is incurred. The associated asset retirement cost is capitalized as part of the carrying amount of the long-lived asset and depreciated over the remaining life of the underlying asset and the associated liability is accreted to the estimated fair value of the obligation at the settlement date through periodic accretion charges which are generally recorded within General and administrative expense in our Consolidated Statements of Income. When the obligation is settled, any difference between the final cost and the recorded amount is recognized as income or loss on settlement in our Consolidated Statements of Income.
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| Revenue recognition | Revenue recognition In accordance with ASC Topic 606, we account for a customer contract when we obtain written approval, the contract is committed, the rights of the parties, including the payment terms, are identified, the contract has commercial substance and consideration is probable of collection. Revenue is recognized when, or as, control of a promised product or service is transferred to our customers in an amount that reflects the consideration we expect to be entitled to in exchange for our products and services (at its transaction price). Estimates of variable consideration and the determination of whether to include estimated amounts in the transaction price are based on readily available information, which may include historical, current and forecasted information, taking into consideration the type of customer, the type of transaction and specific facts and circumstances of each arrangement. We report revenue net of any revenue-based taxes assessed by governmental authorities that are imposed on and concurrent with specific revenue producing transactions. We have four revenue streams: cloud services and subscriptions, customer support, license, and professional service and other. Cloud services and subscriptions revenue Cloud services and subscriptions revenue are from hosting arrangements where in connection with the licensing of software, the end user does not take possession of the software, as well as from end-to-end fully outsourced B2B integration solutions to our customers (collectively referred to as cloud arrangements). The software application resides on our hardware or that of a third-party, and the customer accesses and uses the software on an as-needed basis. Our cloud arrangements can be broadly categorized as PaaS, SaaS, cloud subscriptions and managed services. PaaS/ SaaS/ Cloud Subscriptions (collectively referred to here as cloud-based solutions): We offer cloud-based solutions that provide customers the right to access our software through the internet. Our cloud-based solutions represent a series of distinct services that are substantially the same and have the same pattern of transfer to the customer. These services are made available to the customer continuously throughout the contractual period. However, the extent to which the customer uses the services may vary at the customer’s discretion. The payment for cloud-based solutions may be received either at inception of the arrangement, or over the term of the arrangement. These cloud-based solutions are considered to have a single performance obligation where the customer simultaneously receives and consumes the benefit, and as such we recognize revenue for these cloud-based solutions ratably over the term of the contractual agreement. For example, revenue related to cloud-based solutions that are provided on a usage basis, such as the number of users, is recognized based on a customer’s utilization of the services in a given period. Additionally, a software license is present in a cloud-based solutions arrangement if all of the following criteria are met: (i)The customer has the contractual right to take possession of the software at any time without significant penalty; and (ii)It is feasible for the customer to host the software independent of us. In these cases where a software license is present in a cloud-based solutions arrangement it is assessed to determine if it is distinct from the cloud-based solutions arrangement. The revenue allocated to the distinct software license would be recognized at the point in time the software license is transferred to the customer, whereas the revenue allocated to the hosting performance obligation would be recognized ratably on a monthly basis over the contractual term unless evidence suggests that revenue is earned, or obligations are fulfilled in a different pattern over the contractual term of the arrangement. Managed services: We provide comprehensive B2B process outsourcing services for all day-to-day operations of a customers’ B2B integration program. Customers using these managed services are not permitted to take possession of our software and the contract is for a defined period, where customers pay a monthly or quarterly fee. Our performance obligation is satisfied as we provide services of operating and managing a customer’s electronic data interchange (EDI) environment. Revenue relating to these services is recognized using an output method based on the expected level of service we will provide over the term of the contract. As part of cloud services and subscriptions revenues, in connection with cloud subscription and managed service contracts, we often agree to perform a variety of services before the customer goes live, such as, converting and migrating customer data, building interfaces and providing training. These services are considered an outsourced suite of professional services which can involve certain project-based activities. These services can be provided at the initiation of a contract, during the implementation or on an ongoing basis as part of the customer life cycle. These services can be charged separately on a fixed fee or time and materials basis, or the costs associated may be recovered as part of the ongoing cloud subscription or managed services fee. These outsourced professional services are considered to be distinct from the ongoing hosting services and represent a separate performance obligation within our cloud subscription or managed services arrangements. The obligation to provide outsourced professional services is satisfied over time, with the customer simultaneously receiving and consuming the benefits as we satisfy our performance obligations. For outsourced professional services, we recognize revenue by measuring progress toward the satisfaction of our performance obligation. Progress for services that are contracted for a fixed price is generally measured based on hours incurred as a portion of total estimated hours. As a practical expedient, when we invoice a customer at an amount that corresponds directly with the value to the customer of our performance to date, we recognize revenue at that amount. Customer support revenue Customer support revenue is associated with perpetual, term license and off-cloud subscription arrangements. As customer support is not critical to the customer’s ability to derive benefit from its right to use our software, customer support is considered as a distinct performance obligation when sold together in a bundled arrangement along with the software. Customer support consists primarily of technical support and the provision of unspecified updates and upgrades on a when-and-if-available basis. Customer support for perpetual licenses is renewable, generally on an annual basis, at the option of the customer. Customer support for term and subscription licenses is renewable concurrently with such licenses for the same duration of time. Payments for customer support are generally made at the inception of the contract term or in installments over the term of the maintenance period. Our customer support team is ready to provide these maintenance services, as needed, to the customer during the contract term. As the elements of customer support are delivered concurrently and have the same pattern of transfer, customer support is accounted for as a single performance obligation. The customer benefits evenly throughout the contract period from the guarantee that the customer support resources and personnel will be available to them, and that any unspecified upgrades or unspecified future products developed by us will be made available. Revenue for customer support is recognized ratably over the contract period based on the start and end dates of the maintenance term, in line with how we believe services are provided. License revenue Our license revenue can be broadly categorized as perpetual licenses, term licenses and subscription licenses, all of which are deployed on the customer’s premises (off-cloud). Perpetual licenses: We sell perpetual licenses which provide customers the right to use software for an indefinite period of time in exchange for a one-time license fee, which is generally paid at contract inception. Our perpetual licenses provide a right to use IP that is functional in nature and have significant stand-alone functionality. Accordingly, for perpetual licenses of functional IP, revenue is recognized at the point-in-time when control has been transferred to the customer, which normally occurs once software activation keys have been made available for download. Term licenses and Subscription licenses: We sell both term and subscription licenses which provide customers the right to use software for a specified period in exchange for a fee, which may be paid at contract inception or paid in installments over the period of the contract. Like perpetual licenses, both our term licenses and subscription licenses are functional IP that have significant stand-alone functionality. Accordingly, for both term and subscription licenses, revenue is recognized at the point-in-time when the customer is able to use and benefit from the software, which is normally once software activation keys have been made available for download at the commencement of the term. Professional service and other revenue Our professional services, when offered along with software licenses, consist primarily of technical services and training services. Technical services may include installation, customization, implementation or consulting services. Training services may include access to online modules or delivering a training package customized to the customer’s needs. At the customer’s discretion, we may offer one, all, or a mix of these services. Payment for professional services is generally a fixed fee or is a fee based on time and materials. Professional services can be arranged in the same contract as the software license or in a separate contract. As our professional services do not significantly change the functionality of the license and our customers can benefit from our professional services on their own or together with other readily available resources, we consider professional services as distinct within the context of the contract. Professional service revenue is recognized over time as long as: (i) the customer simultaneously receives and consumes the benefits as we perform them, (ii) our performance creates or enhances an asset the customer controls as we perform, and (iii) our performance does not create an asset with alternative use and we have enforceable right to payment. If all the above criteria are met, we use an input-based measure of progress for recognizing professional service revenue. For example, we may consider total labour hours incurred compared to total expected labour hours. As a practical expedient, when we invoice a customer at an amount that corresponds directly with the value to the customer of our performance to date, we will recognize revenue at that amount. Material rights To the extent that we grant our customer an option to acquire additional products or services in one of our arrangements, we will account for the option as a distinct performance obligation in the contract only if the option provides a material right to the customer that the customer would not receive without entering into the contract. For example, if we give the customer an option to acquire additional goods or services in the future at a price that is significantly lower than the current price, this would be a material right as it allows the customer to, in effect, pay in advance for the option to purchase future products or services. If a material right exists in one of our contracts, then revenue allocated to the option is deferred and we would recognize revenue only when those future products or services are transferred or when the option expires. Based on history, our contracts do not typically contain material rights and when they do, the material right is not significant to our Consolidated Financial Statements. Arrangements with multiple performance obligations Our contracts generally contain more than one of the products and services listed above. Determining whether goods and services are considered distinct performance obligations that should be accounted for separately or as a single performance obligation may require judgment, specifically when assessing whether both of the following two criteria are met: •the customer can benefit from the product or service either on its own or together with other resources that are readily available to the customer; and •our promise to transfer the product or service to the customer is separately identifiable from other promises in the contract. If these criteria are not met, we determine an appropriate measure of progress based on the nature of our overall promise for the single performance obligation. If these criteria are met, each product or service is separately accounted for as a distinct performance obligation and the total transaction price is allocated to each performance obligation on a relative SSP basis. Standalone selling price The SSP reflects the price we would charge for a specific product or service if it were sold separately in similar circumstances and to similar customers. In most cases we can establish the SSP based on observable data. We typically establish a narrow SSP range for our products and services and assess this range on a periodic basis or when material changes in facts and circumstances warrant a review. If the SSP is not directly observable, then we estimate the amount using either the expected cost plus a margin or residual approach. Estimating SSP requires judgment that could impact the amount and timing of revenue recognized. SSP is a formal process whereby management considers multiple factors including, but not limited to, geographic or regional specific factors, competitive positioning, internal costs, profit objectives, and pricing practices. Transaction Price Allocation In bundled arrangements, where we have more than one distinct performance obligation, we must allocate the transaction price to each performance obligation based on its relative SSP. However, in certain bundled arrangements, the SSP may not always be directly observable. For instance, in bundled arrangements with license and customer support, we allocate the transaction price between the license and customer support performance obligations using the residual approach because we have determined that the SSP for licenses in these arrangements are highly variable. We use the residual approach only for our license arrangements. When the SSP is observable but contractual pricing does not fall within our established SSP range, then an adjustment is required, and we will allocate the transaction price between license and customer support based on the relative SSP established for the respective performance obligations. When two or more contracts are entered into at or near the same time with the same customer, we evaluate the facts and circumstances associated with the negotiation of those contracts. Where the contracts are negotiated as a package, we will account for them as a single arrangement and allocate the consideration for the combined contracts among the performance obligations accordingly. Sales to resellers We execute certain sales contracts through resellers, distributors and channel partners (collectively referred to as resellers). Typically, we conclude that the resellers are OpenText customers in our reseller agreements. The resellers have control over the pricing, service and products prior to being transferred to the end customer. We also assess the creditworthiness of each reseller and if they are newly formed, undercapitalized or in financial difficulty, we defer any revenues expected to emanate from such reseller and recognize revenue only when cash is received, and all other revenue recognition criteria under ASC Topic 606 are met. Rights of return and other incentives We do not generally offer rights of return or any other incentives such as concessions, product rotation, or price protection and, therefore, do not provide for or make estimates of rights of return and similar incentives. However, we do offer consumers who purchase certain of our products online directly from us an unconditional full 70-day money-back guarantee. Distributors and resellers are also permitted to return the consumer products, subject to certain limitations. Revenue is reduced for such rights based on the estimate of future returns originating from contractual agreements with these customers. Additionally, in some contracts, however, discounts may be offered to the customer for future software purchases and other additional products or services. Such arrangements grant the customer an option to acquire additional goods or services in the future at a discount and therefore are evaluated under guidance related to “material rights” as discussed above. Other policies Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 60 days of the invoice date. In certain arrangements, we will receive payment from a customer either before or after the performance obligation to which the invoice relates has been satisfied. As a practical expedient, we do not account for significant financing components if the period between when we transfer the promised good or service to the customer and when the customer pays for the product or service will be one year or less. On that basis, our contracts for license and maintenance typically do not contain a significant financing component, however, in determining the transaction price we consider whether we need to adjust the promised consideration for the effects of the time value of money if the timing of payments provides either the customer or OpenText with a significant benefit of financing. Our managed services contracts may not include an upfront charge for outsourced professional services performed as part of an implementation and are recovered through an ongoing fee. Therefore, these contracts may be expected to have a financing component associated with revenue being recognized in advance of billings. We may modify contracts to offer customers additional products or services. The additional products and services will be considered distinct from those products or services transferred to the customer before the modification and will be accounted for as a separate contract. We evaluate whether the price for the additional products and services reflects the SSP adjusted as appropriate for facts and circumstances applicable to that contract. In determining whether an adjustment is appropriate, we evaluate whether the incremental consideration is consistent with the prices previously paid by the customer or similar customers. Certain of our subscription services and product support arrangements generally contain performance response time guarantees. For subscription services arrangements, we estimate variable consideration using a portfolio approach because performance penalties are tied to standard response time requirements. For product support arrangements, we estimate variable consideration on a contract basis because such arrangements are customer specific. For both subscription services and product support arrangements, we use an expected value approach to estimate variable consideration based on historical business practices and current and future performance expectations to determine the likelihood of incurring penalties. Performance Obligations A summary of our typical performance obligations and when the obligations are satisfied are as follows:
Incremental Costs of Obtaining a Contract with a Customer Incremental costs of obtaining a contract include only those costs that we incur to obtain a contract that we would not have incurred if the contract had not been obtained, such as sales commissions. We have determined that certain of our commission programs meet the requirements to be capitalized. Some commission programs are not subject to capitalization as the commission expense is paid and recognized as the related revenue is recognized. In assessing costs to obtain a contract, we apply a practical expedient that allows us to assess our incremental costs on a portfolio of contracts with similar characteristics instead of assessing the incremental costs on each individual contract. We do not expect the financial statement effects of applying this practical expedient to the portfolio of contracts to be materially different than if we were to apply the standard to each individual contract. We pay commissions on the sale of new customer contracts as well as for renewals of existing contracts to the extent the renewals generate incremental revenue. Commissions paid on renewal contracts are limited to the incremental new revenue and therefore these payments are not commensurate with the commission paid on the original sale. We allocate commission costs to the performance obligations in an arrangement consistent with the allocation of the transaction price. Commissions allocated to the license performance obligation are expensed at the time the license revenue is recognized. Commissions allocated to professional service performance obligations are expensed as incurred, as these contracts are generally for one year or less and we apply a practical expedient to expense costs as incurred if the amortization period would have been one year or less. Commissions allocated to maintenance, managed services, on-going hosting arrangements or other recurring services, are capitalized and amortized consistent with the pattern of transfer to the customer of the services over the period expected to benefit from the commission payment. As commissions paid on renewals are not commensurate with the original sale, the period of benefit considers anticipated renewals. The benefit period is estimated to be approximately six years, which is based on our customer contracts and the estimated life of our technology. Expenses for incremental costs associated with obtaining a contract are recorded within Sales and marketing expense in the Consolidated Statements of Income. Our short-term capitalized costs to obtain a contract are included in Prepaid expenses and other current assets, while our long-term capitalized costs to obtain a contract are included in Other assets on our Consolidated Balance Sheets.
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| Research and development costs | Research and development costs Research and development costs internally incurred in creating computer software to be sold, licensed or otherwise marketed are expensed as incurred unless they meet the criteria for deferral and amortization, as described in ASC Topic 985-20, “Costs of Software to be Sold, Leased, or Marketed” (Topic 985-20). In accordance with Topic 985-20, costs related to research, design and development of products are charged to expense as incurred and capitalized between the dates that the product is considered to be technologically feasible and is considered to be ready for general release to customers. In our historical experience, the dates relating to the achievement of technological feasibility and general release of the product have substantially coincided. In addition, no significant costs are incurred subsequent to the establishment of technological feasibility. As a result, we do not capitalize any research and development costs relating to internally developed software to be sold, licensed or otherwise marketed.
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| Advertising Expenses | Advertising Expenses Advertising costs, which include digital advertising, marketing programs and other promotional costs, are expensed as incurred.
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| Income taxes | Income taxes We account for income taxes in accordance with ASC Topic 740, “Income Taxes” (Topic 740). Deferred tax assets and liabilities arise from temporary differences between the tax bases of assets and liabilities and their reported amounts in the Consolidated Financial Statements that will result in taxable or deductible amounts in future years. These temporary differences are measured using enacted tax rates. A valuation allowance is recorded to reduce deferred tax assets to the extent that we consider it is more likely than not that a deferred tax asset will not be realized. In determining the valuation allowance, we consider factors such as the reversal of deferred income tax liabilities, projected taxable income, and the character of income tax assets and tax planning strategies. A change to these factors could impact the estimated valuation allowance and income tax expense. We account for our uncertain tax provisions by using a two-step approach. The first step is to evaluate the tax position for recognition by determining if the weight of the available evidence indicates it is more likely than not, based solely on the technical merits, that the position will be sustained on audit, including the resolution of related appeals or litigation processes, if any. The second step is to measure the appropriate amount of the benefit to recognize. The amount of benefit to recognize is measured as the maximum amount which is more likely than not to be realized. The tax position is derecognized when it is no longer more likely than not that the position will be sustained on audit. On subsequent recognition and measurement, the maximum amount which is more likely than not to be recognized at each reporting date will represent the Company’s best estimate, given the information available at the reporting date, although the outcome of the tax position is not absolute or final. We recognize both accrued interest and penalties related to liabilities for income taxes within the Provision for income taxes line of our Consolidated Statements of Income
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| Equity investments | Equity investments We invest in investment funds in which we are a limited partner. Our interests in each of these investees range from 4% to below 20%. These investments are accounted for using the equity method. Our share of net income or losses based on our interest in these investments, which approximates fair value, is recorded as a component of Other income (expense), net in our Consolidated Statements of Income
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| Fair value of financial instruments | Fair value of financial instruments Carrying amounts of certain financial instruments, including cash and cash equivalents, accounts receivable and accounts payable (trade and accrued liabilities) approximate the fair value due to the relatively short period of time between origination of the instruments and their expected realization. The fair value of our Senior Notes is determined based on observable market prices and categorized as a Level 2 measurement. The carrying value of our other long-term debt facilities approximates the fair value since the interest rate is at market. We apply the provisions of ASC Topic 820, “Fair Value Measurement” (Topic 820), to our available-for-sale financial assets and derivative financial instruments that we are required to carry at fair value pursuant to other accounting standards
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| Foreign currency | Foreign currency Our Consolidated Financial Statements are presented in U.S. dollars. In general, the functional currency of our subsidiaries is the local currency. For each subsidiary, assets and liabilities denominated in foreign currencies are translated into U.S dollars at the exchange rates in effect at the balance sheet dates and revenues and expenses are translated at the average exchange rates prevailing during the previous month of the transaction. The effect of foreign currency translation adjustments are recorded as a component of Accumulated other comprehensive income (loss).
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| Restructuring charges | Restructuring charges We record restructuring charges relating to contractual lease obligations, not accounted for under Topic 842, and other exit costs in accordance with ASC Topic 420, “Exit or Disposal Cost Obligations” (Topic 420). Topic 420 requires that a liability for a cost associated with an exit or disposal activity be recognized and measured initially at its fair value in the period in which the liability is incurred. In order to incur a liability pursuant to Topic 420, our management must have established and approved a plan of restructuring in sufficient detail. A liability for a cost associated with involuntary termination benefits is recorded when benefits have been communicated and a liability for a cost to terminate an operating lease or other contract is incurred, when the contract has been terminated in accordance with the contract terms or we have ceased using the right conveyed by the contract, such as vacating a leased facility not accounted for under Topic 842. The recognition of restructuring charges requires us to make certain judgments regarding the nature, timing and amount associated with the planned restructuring activities, including estimating sub-lease income and the net recoverable amount of equipment to be disposed of. At the end of each reporting period, we evaluate the appropriateness of the remaining accrued balances
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| Loss Contingencies | Loss Contingencies We are currently involved in various claims and legal proceedings. Quarterly, we review the status of each significant legal matter and evaluate such matters to determine how they should be treated for accounting and disclosure purposes in accordance with the requirements of ASC Topic 450-20, “Loss Contingencies” (Topic 450-20). Specifically, this evaluation process includes the centralized tracking and itemization of the status of all our disputes and litigation items, discussing the nature of any litigation and claim, including any dispute or claim that is reasonably likely to result in litigation, with relevant internal and external counsel, and assessing the progress of each matter in light of its merits and our experience with similar proceedings under similar circumstances. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, we accrue a liability for the estimated loss in accordance with Topic 450-20. As of the date of this Annual Report on Form 10-K, the aggregate of such accrued liabilities was not material to our consolidated financial position or results of operations and we do not believe as of the date of this filing that it is reasonably possible that a loss exceeding the amounts already recognized will be incurred that would be material to our consolidated financial position or results of operations. As described more fully below, we are unable at this time to estimate a possible loss or range of losses in respect of certain disclosed matters
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| Net income per share | Net income per share Basic net income per share is computed using the weighted average number of Common Shares outstanding including contingently issuable shares where the contingency has been resolved. Diluted net income per share is computed using the weighted average number of Common Shares and stock equivalents outstanding using the treasury stock method during the year. For periods in which we incur a net loss, our outstanding Common Share equivalents are not included in the calculation of diluted earnings (loss) per share as their effect is antidilutive. Accordingly, basic and diluted net loss per share for those periods are identical.
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| Share-based compensation | Share-based compensation We measure share-based compensation costs, in accordance with ASC Topic 718, “Compensation - Stock Compensation” (Topic 718) on the grant date, based on the calculated fair value of the award. We have elected to treat awards with graded vesting as a single award when estimating fair value. Compensation cost is recognized on a straight-line basis over the employee requisite service period, which in our circumstances is the stated vesting period of the award, provided that total compensation cost recognized at least equals the pro-rata value of the award that has vested. Compensation cost is initially based on the estimated number of options for which the requisite service is expected to be rendered. This estimate is adjusted in the period once actual forfeitures are known
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| Accounting for Pensions, post-retirement and post-employment benefits | Accounting for Pensions, post-retirement and post-employment benefits Pension expense is accounted for in accordance with ASC Topic 715, “Compensation-Retirement Benefits” (Topic 715). Pension expense consists of actuarially computed costs of pension benefits in respect of the current year of service, imputed returns on plan assets (for funded plans), imputed interest on pension obligations and amortization of actuarial gain/loss. The expected costs of post-retirement benefits, other than pensions, are accrued in the Consolidated Financial Statements based upon actuarial methods and assumptions. The over-funded or under-funded status of defined benefit pension and other post-retirement plans are recognized as an asset or a liability (with the offset to Accumulated other comprehensive income (loss), net of tax, within Shareholders’ equity), respectively, on the Consolidated Balance Sheets. Actuarial gains or losses in excess of the greater of (i) 10% of the projected benefit obligation, or (ii) 10% of the plan assets, are recognized as a component of Other Comprehensive Income (Loss), net and subsequently amortized as a component of net periodic benefit costs over the weighted average of future working life of the plan’s active employees.
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| Held for Sale Classification | Held for Sale Classification Assessments for held for sale accounting classification are performed by the Company when events or changes in business circumstances indicate that a change in classification may be necessary. The Company classifies assets and liabilities to be disposed of as held for sale in the period in which they are available for immediate sale in their present condition and when the sale is probable and expected to be completed within one year. Assets and liabilities classified as held for sale are presented separately within current assets and liabilities in our Consolidated Balance Sheets and are measured at the lower of their carrying amount or fair value less costs to sell. Further, the Company ceases to record depreciation and amortization expense on assets that are classified as held for sale.
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| Accounting Pronouncements Adopted in Fiscal 2024 | Accounting Pronouncements Adopted in Fiscal 2025 During Fiscal 2025, we adopted the following Accounting Standards Updates (ASU): Segment Reporting In November 2023, the FASB issued ASU 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which provides guidance to improve the disclosures about a public entity’s reportable segments and address requests from investors for additional, more detailed information about a reportable segment’s expenses. We adopted this ASU for our annual period beginning July 1, 2024 on a retrospective basis. The adoption of this ASU expanded our disclosures, but did not have an impact on the Company’s Consolidated Financial Statements. See Note 20 “Segment Information” for additional information. Accounting Pronouncements Not Yet Adopted in Fiscal 2025 Income Taxes In December 2023, the FASB issued ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” that addresses requests for improved income tax disclosures from investors that use the financial statements to make capital allocation decisions. Public entities must adopt the new guidance for fiscal years beginning after December 15, 2024. The amendments in this ASU must be applied on a retrospective basis to all prior periods presented in the financial statements and early adoption is permitted. We are currently evaluating the potential impact of the adoption of ASU 2023-09 on the Company’s financial disclosures. Disaggregation of Income Statement Expenses In November 2024, the FASB issued ASU 2024-03 “Disaggregation of Income Statement Expenses (Subtopic 220-40),” which requires additional disclosures of specific expense categories included within income statement expense captions. The guidance will be effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. The amendments in this ASU are to be applied on a prospective basis with the option for retrospective application, and early adoption is permitted. We are currently evaluating the impact of the adoption of ASU 2024-03 on the Company’s financial disclosures.
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ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS (Tables) |
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Components of Property and Equipment by Type | The following represents the estimated useful lives of property and equipment as of June 30, 2025:
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REVENUES (Tables) |
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Disaggregation of Revenue | The following tables disaggregate our revenue by significant geographic area, based on the location of our direct end customer, by type of performance obligation and timing of revenue recognition for the periods indicated:
______________________ (1)Americas consists of countries in North, Central and South America. (2)EMEA consists of countries in Europe, the Middle East and Africa. (3)Asia Pacific primarily consists of Australia, Japan, Singapore, India and China. (4)Recurring revenue is defined as the sum of Cloud services and subscriptions revenue and Customer support revenue.
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| Schedule of Contract Balances | The balance for our contract assets and contract liabilities (i.e., deferred revenues) for the periods indicated below were as follows:
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| Schedule of Incremental Costs of Obtaining a Contract with a Customer | Incremental Costs of Obtaining a Contract with a Customer Incremental costs of obtaining a contract include only those costs that we incur to obtain a contract that we would not have incurred if the contract had not been obtained, such as sales commissions. The following table summarizes the changes in total capitalized costs to obtain a contract, since June 30, 2022:
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| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction | The following chart provides RPO information as of the following periods. The 12-month periods noted below are as of the dates presented, with the remaining balances recognized substantially over the next three years thereafter.
______________________ (1)RPO amounts presented may be impacted by certain estimates including currency fluctuations, estimates of customers’ deployment of contracted solutions, changes in the scope or termination of contracts, among other factors, and are therefore subject to change. (2)Customer support and other RPO is primarily comprised of obligations related to customer support revenues, and to a lesser extent license, professional services and other revenues.
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ALLOWANCE FOR CREDIT LOSSES (Tables) |
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Credit Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Activity for Allowance for Credit Losses | The following illustrates the activity in our allowance for credit losses on accounts receivable:
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PROPERTY AND EQUIPMENT (Tables) |
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Components of Property and Equipment by Type | The following represents the estimated useful lives of property and equipment as of June 30, 2025:
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LEASES (Tables) |
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Assets And Liabilities, Lessee | The following illustrates the Consolidated Balance Sheets information related to leases:
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| Schedule of Lease Costs and Other Information | The weighted average remaining lease term and discount rate for the periods indicated below were as follows:
The following illustrates the various components of lease costs for the period indicated:
The following table presents supplemental information relating to cash flows arising from lease transactions. Cash payments made for variable lease costs and short-term leases are not included in the measurement of lease liabilities, and, as such, are excluded from the amounts below:
___________________________ (1)The year ended June 30, 2023 excludes the impact of $129.7 million of right of use assets obtained through the Micro Focus Acquisition. See Note 19 “Acquisitions and Divestitures” for further details including the finalization of the purchase price allocation for the Micro Focus Acquisition.
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| Schedule of Maturity of Lease Liabilities | The following table presents the future minimum lease payments under our lease liabilities as of June 30, 2025:
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GOODWILL (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Changes in Carrying Amount of Goodwill | The following table summarizes the changes in goodwill:
______________________ (1)Adjustment relates to the open measurement period. (2)Relates to the final settlement of working capital and other adjustments.
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ACQUIRED INTANGIBLE ASSETS (Tables) |
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Acquired Intangibles by Asset Class |
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| Schedule of Estimated Future Amortization Expense | The following table shows the estimated future amortization expense for the fiscal years indicated. This calculation assumes no future adjustments to acquired intangible assets:
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PREPAID EXPENSES AND OTHER ASSETS (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Components of Prepaid Expenses and Other Assets | Prepaid expenses and other current assets:
______________________ (1)Represents the asset related to our derivative instrument activity. See Note 17 “Derivative Instruments and Hedging Activities” for more details. Other assets:
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ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts Payable and Accrued Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Current Liabilities | Accounts payable and accrued liabilities:
______________________ (1)Represents the liability related to our derivative instrument activity (see Note 17 “Derivative Instruments and Hedging Activities” for more details)
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| Schedule of Long-Term Accrued Liabilities | Long-term accrued liabilities:
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LONG-TERM DEBT (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Long-Term Debt |
______________________ (1)During the year ended June 30, 2025, we recorded $1.0 million of debt issuance costs, related to the modification of the Acquisition Term Loan (as defined below) (year ended June 30, 2024—$3.5 million related to the amendment of the Revolver and the modification of the Acquisition Term Loan, each as defined below). (2)During the year ended June 30, 2024, we recognized a loss on debt extinguishment of $56.4 million related to the acceleration and recognition of unamortized debt discount and issuance costs related to the optional repayments of the Acquisition Term Loan and Term Loan B (as defined below) in Fiscal 2024.
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PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Defined Benefit Plan and Long-Term Employee Benefit Obligations | The following tables provides the details of the funded status of our defined benefit pension and other post-retirement plans:
The following tables provides details of the net benefit obligations of our defined benefit pension and other post-retirement plans:
______________________ (1) The current portion of the benefit obligation has been included within “Accrued salaries, incentives and commissions,” all within Accounts payable and accrued liabilities in the Consolidated Balance Sheets (see Note 10 “Accounts Payable and Accrued Liabilities” for more details).
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| Schedule of Changes in Benefit Obligation of Defined Benefit Plan | The following tables provides the details of the change in the benefit obligation and plan assets for the periods indicated:
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| Schedule of Components of Net Pension Expense for Pension Plan | The following table provides details of net pension expense for the periods indicated:
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| Schedule of Amounts Recognized in Other Comprehensive Income | The following table provides details of amounts recognized in Other Comprehensive Income:
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| Schedule of Defined Benefit Plans Disclosures | The following table provides details of the plan assets measured at fair value presented by asset category and fair value hierarchy for the periods indicated:
In determining the fair value of the defined benefit obligations as of June 30, 2025 and 2024, we used the following weighted-average key assumptions:
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| Schedule of Anticipated Pension Payments Under Pension Plan | Anticipated pension payments under the defined benefit plans for the fiscal years indicated below are as follows:
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EQUITY AND SHARE-BASED COMPENSATION (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Share-based Compensation Costs | Share-based compensation expense for the periods indicated below is detailed as follows:
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| Schedule of Unrecognized Compensation Cost | A summary of unrecognized compensation cost for unvested share-based compensation awards is as follows:
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| Schedule of Share-based Compensation, Stock Options, Outstanding Under Various Plans | A summary of stock options outstanding under our 2004 Stock Option Plan is set forth below.
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| Schedule of Option Activity | A summary of activity under our stock option plans for the year ended June 30, 2025 is as follows:
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| Schedule of Weighted-Average Fair Value of Options and Weighted-Average Assumptions Used | For the periods indicated, the weighted-average fair value of options and weighted-average assumptions estimated under the Black-Scholes option-pricing model were as follows:
For the period in which performance stock options were granted, as indicated, the weighted-average fair value of performance stock options and weighted-average assumptions estimated under the Monte Carlo pricing model were as follows:
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| Schedule of Non Option Award Activity | A summary of activity under our PSUs issued under the LTIP for the year ended June 30, 2025 is as follows:
______________________ (1)PSUs are earned based on market or performance conditions and the actual number of PSUs earned, if any, is dependent upon performance and may range from 0 to 200 percent.
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| Schedule of Weighted Average Assumptions, Fair Value and Intrinsic Value | For the periods indicated, the weighted-average fair value of market-based PSUs issued under LTIP, and weighted-average assumptions estimated under the Monte Carlo pricing model were as follows:
For the periods indicated, the weighted-average fair value and aggregate intrinsic value of RSUs (issued under LTIP) were as follows:
For the periods indicated, the weighted-average fair value and intrinsic value of RSUs (other) were as follows:
For the periods indicated, the weighted-average fair value and intrinsic value of DSUs were as follows:
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| Schedule of Restricted Stock Activity | A summary of activity under our RSUs issued under the LTIP for the year ended June 30, 2025 is as follows:
A summary of activity under our RSUs (other) issued for the year ended June 30, 2025 is as follows:
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| Schedule of Nonvested Share Activity | A summary of activity under our deferred share units issued for the year ended June 30, 2025 is as follows:
______________________ (1) Includes 47,871 unvested DSUs. (2) Includes 62,177 unvested DSUs.
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GUARANTEES AND CONTINGENCIES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Contractual Obligations | We have entered into the following contractual obligations with minimum payments for the indicated fiscal periods as follows:
______________________ (1)Includes interest up to maturity and principal payments. See Note 11 “Long-Term Debt” for more details. (2)For more details on contractual obligations relating to leases and purchase obligations accounted for under ASC Topic 842, see Note 6 “Leases.”
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INCOME TAXES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the combined Canadian federal and provincial income tax rate with our effective income tax rate is as follows:
(1)The decrease in valuation allowance in Fiscal 2025 relates to the recognition of assets previously not recognized as compared to the increase in valuation allowance in Fiscal 2024 due to assets no longer meeting the recognition criteria as a result of the AMC Divestiture. (2)Fiscal 2025 benefit primarily relates to statute of limitation expirations as compared to Fiscal 2024. (3)The change in foreign tax credits and U.S. BEAT in Fiscal 2025, compared to Fiscal 2024, is primarily driven by the AMC Divestiture. (4)The benefit in the current year is related to book to tax filing adjustments for Fiscal 2024 and prior years. (5)The impact of internal reorganizations in Fiscal 2025 is primarily related to legal entity rationalization activity, as compared to Fiscal 2024 in which significant gains from the AMC Divestiture were recognized.
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| Schedule of Income before Income Tax, Domestic and Foreign | The following is a geographical breakdown of income before the provision for income taxes:
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| Schedule of Components of Income Tax Expense (Benefit) | The provision for (recovery of) income taxes consisted of the following:
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| Schedule of Deferred Tax Assets and Liabilities | The primary components of the deferred tax assets and liabilities are as follows, for the periods indicated below:
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| Schedule of Unrecognized Tax Benefits Roll Forward | The aggregate changes in the balance of our gross unrecognized tax benefits (including interest and penalties) were as follows:
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| Schedule of Interest and Penalties Related to Liabilities for Income Tax Expense | For the year ended June 30, 2025, 2024 and 2023, respectively, we recognized the following amounts on uncertain tax positions as income tax-related interest expense and penalties:
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| Schedule of Interest Accrued and Penalties Accrued Related to Income Tax Expense | The following amounts have been accrued on account of income tax-related interest expense and penalties:
______________________ (1)These balances are primarily included within Long-term income taxes payable within the Consolidated Balance Sheets.
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FAIR VALUE MEASUREMENT (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Fair Value of the Company’s Financial Instruments | The following table summarizes the fair value of the Company’s financial instruments as of June 30, 2025 and 2024:
______________________ (1)Senior Notes are presented within the Consolidated Balance Sheets at amortized cost. See Note 11 “Long-Term Debt” for further details.
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| Schedule of Fair Value Assets Measured on Recurring Basis Unobservable Input Reconciliation | The following table provides a reconciliation of changes in the fair value of our Level 3 available-for-sale financial assets between June 30, 2024 and June 30, 2025.
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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets | The fair values of outstanding derivative instruments are as follows:
The effects of gains (losses) from derivative instruments on our Consolidated Statements of Income is as follows:
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| Schedule of Effects of the Cash Flow and Net Investment Hedges | The effects of the cash flow and net investment hedges on our Consolidated Statements of Comprehensive Income:
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SPECIAL CHARGES (RECOVERIES) (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring, Settlement and Impairment Provisions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Restructuring Reserve | Special charges (recoveries) include costs and recoveries that relate to certain restructuring initiatives that we have undertaken from time to time under our various restructuring plans, as well as acquisition-and divestiture-related costs and other similar charges.
A reconciliation of the beginning and ending restructuring liability for the Business Optimization Plan, which is included within Accounts payable and accrued liabilities in our Consolidated Balance Sheets, for the year ended June 30, 2025 is shown below.
A reconciliation of the beginning and ending restructuring liability for the Micro Focus Acquisition Restructuring Plan, which is included within Accounts payable and accrued liabilities in our Consolidated Balance Sheets, for the year ended June 30, 2025 is shown below.
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ACQUISITIONS AND DIVESTITURES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Divestiture of AMC Business | The following table presents the carrying amounts of major classes of assets and liabilities disposed of in the AMC Divestiture as of April 30, 2024:
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| Business Combination, Recognized Asset Acquired and Liability Assumed | The recognized amounts of identifiable assets acquired and liabilities assumed, based on their fair values as of January 31, 2023, are set forth below:
______________________ (1)The gross amount receivable was $418.2 million, of which $9.3 million of this receivable was expected to be uncollectible. (2)The goodwill of $3.4 billion is primarily attributable to the synergies expected to arise after the acquisition. There is $67.3 million of goodwill that is deductible for tax purposes. (3)Purchase price allocation adjustments of $32.1 million for the year ended June 30, 2024, were primarily driven by changes in other current assets and other liabilities related to adjustments of pre-acquisition other current assets and deferred tax liabilities.
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| Schedule of Unaudited Pro Forma Information | The amount of Micro Focus’ revenues and net loss included in our Consolidated Statements of Income for the year ended June 30, 2023 is set forth below:
______________________ (1)Net loss for the year ended includes one-time fees of approximately $82.9 million on account of special charges and $202.4 million of amortization charges relating to intangible assets. The unaudited pro forma revenues and net income of the combined entity for the year ended June 30, 2023, had the Micro Focus Acquisition been consummated on July 1, 2022, are set forth below:
______________________ (1)Included in the pro forma net loss for the year ended June 30, 2023, is a $448.2 million goodwill impairment recorded by Micro Focus in its pre-acquisition historical results as a result of the Company’s offer to acquire Micro Focus at a price of 532 pence per share.
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SEGMENT INFORMATION (Tables) |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Segment Reporting Information, by Segment | The following tables present Total revenue, significant segment expenses and Adjusted EBITDA for the years presented:
(1)Total Adjusted cost of revenues excludes Amortization of acquired technology-based intangible assets and share-based compensation expense, which are costs that are excluded from the CODM’s evaluation of segment performance. (2)Adjusted operating expenses exclude share-based compensation expense as this expense is excluded from our internal analysis of operating results. (3)The following adjustments are made to reconcile Adjusted EBITDA to Net income attributable to OpenText:
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| Schedule of Revenue From External Customers Attributed To Foreign Countries By Geographic Area | The following table sets forth the distribution of revenues, by significant geographic area, for the periods indicated:
______________________ (1)Total revenues by geographic area are determined based on the location of our direct customer. During the years ended June 30, 2025, 2024 and 2023, no single country other than the United States accounted for more than 10% of total revenues. (2)EMEA consists of countries in Europe, the Middle East and Africa.
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| Schedule of Entity-Wide Disclosure On Geographic Areas, Long-Lived Assets In Individual Foreign Countries By Country | The following table sets forth the distribution of long-lived assets, representing property and equipment, ROU assets and intangible assets, by significant geographic area, as of the periods indicated below.
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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) |
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| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Accumulated Other Comprehensive Income (Loss) |
______________________ (1)The amount of foreign currency translation recognized in other comprehensive income during the year ended June 30, 2025 and 2024 included net gains (losses) relating to our net investment hedge of $(73.1) million and $(0.3) million, respectively, as further discussed in Note 17 “Derivative Instruments and Hedging Activities.”
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SUPPLEMENTAL CASH FLOW DISCLOSURES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplemental Cash Flow Information [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Supplemental Disclosure of Cash Flow Information |
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OTHER INCOME (EXPENSE), NET (Tables) |
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| Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Other Income (Expense), Net |
______________________ (1)The year ended June 30, 2023 includes a foreign exchange gain of $36.6 million resulting from the delayed payment of a portion of the purchase consideration, settled on February 9, 2023, related to the Micro Focus Acquisition (see Note 19 “Acquisitions and Divestitures” for more details). (2)Represents the unrealized gains (losses) on our derivatives not designated as hedges (see Note 17 “Derivative Instruments and Hedging Activities” for more details). (3)Represents the realized gains (losses) on our derivatives not designated as hedges (see Note 17 “Derivative Instruments and Hedging Activities” for more details). (4)Represents our share in net income of equity investees, which approximates fair value and subject to volatility based on market trends and business conditions, based on our interest in certain investment funds in which we are a limited partner. Our interests in each of these investees range from 4% to below 20% and these investments are accounted for using the equity method (see Note 9 “Prepaid Expenses and Other Assets” for more details). (5)During the year ended June 30, 2024, the Company recognized a loss on debt extinguishment of $56.4 million related to the acceleration and recognition of unamortized debt discount and issuance costs resulting from the optional repayments and prepayments of the Acquisition Term Loan and Term Loan B in Fiscal 2024 (see Note 11 “Long-Term Debt” for more details). (6)On December 1, 2022, the Company amended the Acquisition Term Loan and Bridge Loan to reallocate commitments under the now-terminated bridge loan to the Acquisition Term Loan and terminated all remaining commitments under the now-terminated bridge loan which resulted in a loss on debt extinguishment related to unamortized debt issuance costs (see Note 11 “Long-Term Debt” for more details). (7)On May 1, 2024, the Company completed the sale of its AMC business, which resulted in a gain on disposition (see Note 19 “Acquisitions and Divestitures” for more details).
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EARNINGS PER SHARE (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Earnings Per Share |
______________________ (1)Represents options to purchase Common Shares excluded from the calculation of diluted earnings per share because the exercise price of the stock options was greater than or equal to the average price of the Common Shares during the period.
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BASIS OF PRESENTATION (Details) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | |||||
|---|---|---|---|---|---|---|---|
May 01, 2024 |
Jan. 31, 2023 |
Sep. 30, 2024 |
Sep. 30, 2023 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Noncontrolling Interest [Line Items] | |||||||
| Sales and marketing | $ 1,059,497 | $ 1,163,134 | $ 969,971 | ||||
| Research and development | $ (755,936) | $ (864,463) | $ (659,214) | ||||
| Revision of Prior Period, Reclassification, Adjustment | |||||||
| Noncontrolling Interest [Line Items] | |||||||
| Sales and marketing | $ 29,500 | $ 21,400 | |||||
| Research and development | $ 29,500 | $ 21,400 | |||||
| Disposal by sale | AMC Business | |||||||
| Noncontrolling Interest [Line Items] | |||||||
| Cash | $ 2,275,000 | ||||||
| Micro Focus | |||||||
| Noncontrolling Interest [Line Items] | |||||||
| Purchase consideration | $ 6,200,000 | ||||||
| OT South Africa | |||||||
| Noncontrolling Interest [Line Items] | |||||||
| Ownership by open text (as a percent) | 70.00% | ||||||
ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS - Schedule of Property and Equipment (Details) |
Jun. 30, 2025 |
|---|---|
| Leasehold improvements | |
| Property, Plant and Equipment [Line Items] | |
| Useful life (in years) | 5 years |
| Building | |
| Property, Plant and Equipment [Line Items] | |
| Useful life (in years) | 40 years |
| Minimum | |
| Property, Plant and Equipment [Line Items] | |
| Amortization period (in years) | 3 years |
| Minimum | Furniture, equipment and other | |
| Property, Plant and Equipment [Line Items] | |
| Useful life (in years) | 5 years |
| Minimum | Computer hardware | |
| Property, Plant and Equipment [Line Items] | |
| Useful life (in years) | 3 years |
| Minimum | Computer software | |
| Property, Plant and Equipment [Line Items] | |
| Useful life (in years) | 3 years |
| Minimum | Capitalized software development costs | |
| Property, Plant and Equipment [Line Items] | |
| Amortization period (in years) | 3 years |
| Maximum | |
| Property, Plant and Equipment [Line Items] | |
| Amortization period (in years) | 5 years |
| Maximum | Furniture, equipment and other | |
| Property, Plant and Equipment [Line Items] | |
| Useful life (in years) | 15 years |
| Maximum | Computer hardware | |
| Property, Plant and Equipment [Line Items] | |
| Useful life (in years) | 5 years |
| Maximum | Computer software | |
| Property, Plant and Equipment [Line Items] | |
| Useful life (in years) | 7 years |
| Maximum | Capitalized software development costs | |
| Property, Plant and Equipment [Line Items] | |
| Amortization period (in years) | 5 years |
ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS - Capitalized Software (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Property, Plant and Equipment [Line Items] | ||
| Capitalized software development costs | $ 1,210,576 | $ 1,118,914 |
| Minimum | ||
| Property, Plant and Equipment [Line Items] | ||
| Amortization period (in years) | 3 years | |
| Maximum | ||
| Property, Plant and Equipment [Line Items] | ||
| Amortization period (in years) | 5 years | |
| Capitalized software development costs | ||
| Property, Plant and Equipment [Line Items] | ||
| Capitalized software development costs | $ 283,449 | 250,941 |
| Additions related to capitalized software development costs | $ 32,300 | $ 26,100 |
| Capitalized software development costs | Minimum | ||
| Property, Plant and Equipment [Line Items] | ||
| Amortization period (in years) | 3 years | |
| Capitalized software development costs | Maximum | ||
| Property, Plant and Equipment [Line Items] | ||
| Amortization period (in years) | 5 years | |
ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS - Goodwill (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Accounting Policies [Abstract] | |||
| Goodwill impairment | $ 0 | $ 0 | $ 0 |
ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS - Impairment of long-lived assets (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Accounting Policies [Abstract] | |||
| Impairment of long-lived assets | $ 0 | $ 0 | $ 0 |
ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS - Revenue recognition (Details) |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2025
revenue_stream
|
Jun. 30, 2025
revenue
|
|
| Disaggregation of Revenue [Line Items] | |||
| Number of revenue streams (in revenue streams) | 4 | 4 | |
| Capitalized contract cost, amortization period (in years) | 6 years | 6 years | 6 years |
| Minimum | |||
| Disaggregation of Revenue [Line Items] | |||
| Payment period (in days) | 30 days | ||
| Maximum | |||
| Disaggregation of Revenue [Line Items] | |||
| Payment period (in days) | 60 days | ||
ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS - Advertising Expenses (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Accounting Policies [Abstract] | |||
| Advertising expense | $ 64.8 | $ 66.9 | $ 73.8 |
ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS - Equity investments (Details) - Limited Partner Investments |
Jun. 30, 2025 |
|---|---|
| Minimum | |
| Schedule of Equity Method Investments [Line Items] | |
| Ownership by noncontrolling owners (as a percent) | 4.00% |
| Maximum | |
| Schedule of Equity Method Investments [Line Items] | |
| Ownership by noncontrolling owners (as a percent) | 20.00% |
ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS - Foreign currency (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Intercompany Foreign Currency Balance [Line Items] | |||
| Foreign exchange gains (losses) | $ (24,888) | $ 1,202 | $ 56,599 |
| Other Income (Expense) | |||
| Intercompany Foreign Currency Balance [Line Items] | |||
| Foreign exchange gains (losses) | $ (24,900) | $ 1,200 | $ 56,600 |
REVENUES - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Disaggregation of Revenue [Line Items] | |||
| Total revenues | $ 5,168,405 | $ 5,769,577 | $ 4,484,980 |
| Point in time | |||
| Disaggregation of Revenue [Line Items] | |||
| Total revenues | 625,614 | 834,162 | 539,026 |
| Over time (including professional service and other revenue) | |||
| Disaggregation of Revenue [Line Items] | |||
| Total revenues | 4,542,791 | 4,935,415 | 3,945,954 |
| Cloud services and subscriptions | |||
| Disaggregation of Revenue [Line Items] | |||
| Total revenues | 1,856,474 | 1,820,524 | 1,700,433 |
| Customer support revenue | |||
| Disaggregation of Revenue [Line Items] | |||
| Total revenues | 2,334,037 | 2,713,297 | 1,915,020 |
| Total recurring revenues | |||
| Disaggregation of Revenue [Line Items] | |||
| Total revenues | 4,190,511 | 4,533,821 | 3,615,453 |
| License revenue (perpetual, term and subscriptions) | |||
| Disaggregation of Revenue [Line Items] | |||
| Total revenues | 625,614 | 834,162 | 539,026 |
| Professional service and other revenue | |||
| Disaggregation of Revenue [Line Items] | |||
| Total revenues | 352,280 | 401,594 | 330,501 |
| Americas | |||
| Disaggregation of Revenue [Line Items] | |||
| Total revenues | 2,938,709 | 3,341,881 | 2,785,003 |
| EMEA | |||
| Disaggregation of Revenue [Line Items] | |||
| Total revenues | 1,751,543 | 1,878,470 | 1,310,016 |
| Asia Pacific | |||
| Disaggregation of Revenue [Line Items] | |||
| Total revenues | $ 478,153 | $ 549,226 | $ 389,961 |
REVENUES - Schedule of Contract Balances (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Revenue from Contract with Customer [Abstract] | ||
| Short-term contract assets | $ 77,920 | $ 66,450 |
| Long-term contract assets | 49,293 | 38,684 |
| Short-term deferred revenues | 1,515,382 | 1,521,416 |
| Long-term deferred revenues | $ 168,757 | $ 162,401 |
REVENUES - Additional Information (Details) |
12 Months Ended | ||||
|---|---|---|---|---|---|
|
Jun. 30, 2025
USD ($)
revenue_stream
|
Jun. 30, 2025
USD ($)
revenue
|
Jun. 30, 2025
USD ($)
|
Jun. 30, 2024
USD ($)
|
Jun. 30, 2023
USD ($)
|
|
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||||
| Number of revenue streams (in revenue streams) | 4 | 4 | |||
| Contract assets reclassified to receivables | $ 114,100,000 | $ 116,300,000 | |||
| Asset impairment | 0 | 0 | $ 0 | ||
| Revenue recognized | 1,500,000,000 | 1,700,000,000 | 887,000,000 | ||
| Impairment loss | $ 0 | 0 | $ 0 | ||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | |||||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||||
| Remaining performance obligation | $ 4,000,000,000.0 | ||||
| Revenue, remaining performance obligation (as a percent) | 63.00% | ||||
| Expected timing of satisfaction, period | 12 months | 12 months | 12 months | ||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 | |||||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||||
| Remaining performance obligation | $ 4,300,000,000 | $ 4,300,000,000 | $ 4,300,000,000 | ||
| Revenue, remaining performance obligation (as a percent) | 60.00% | 60.00% | 60.00% | ||
| Expected timing of satisfaction, period | 12 months | 12 months | 12 months | ||
REVENUES - Schedule of Incremental Costs of Obtaining a Contract with a Customer (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Capitalized Contract Cost [Roll Forward] | |||
| Capitalized costs to obtain a contract, beginning balance | $ 109,488 | $ 97,207 | $ 82,562 |
| New capitalized costs incurred | 60,165 | 60,507 | 47,305 |
| Amortization of capitalized costs | (43,129) | (44,016) | (33,269) |
| Impact of foreign exchange rate changes | 2,502 | (246) | 609 |
| Divestiture of AMC business | (3,964) | ||
| Capitalized costs to obtain a contract, ending balance | $ 129,026 | $ 109,488 | $ 97,207 |
REVENUES - Remaining Performance Obligation (Details) - USD ($) $ in Billions |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | ||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
| Remaining performance obligation | $ 4.0 | |
| Expected timing of satisfaction, period | 12 months | |
| Revenue, remaining performance obligation (as a percent) | 63.00% | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | Cloud services and subscriptions | ||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
| Remaining performance obligation | $ 2.2 | |
| Expected timing of satisfaction, period | 12 months | |
| Revenue, remaining performance obligation (as a percent) | 51.00% | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | Customer support | ||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
| Remaining performance obligation | $ 1.8 | |
| Expected timing of satisfaction, period | 12 months | |
| Revenue, remaining performance obligation (as a percent) | 78.00% | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 | ||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
| Remaining performance obligation | $ 4.3 | |
| Expected timing of satisfaction, period | 12 months | |
| Revenue, remaining performance obligation (as a percent) | 60.00% | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 | Cloud services and subscriptions | ||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
| Remaining performance obligation | $ 2.5 | |
| Expected timing of satisfaction, period | 12 months | |
| Revenue, remaining performance obligation (as a percent) | 49.00% | |
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01 | Customer support | ||
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
| Remaining performance obligation | $ 1.8 | |
| Expected timing of satisfaction, period | 12 months | |
| Revenue, remaining performance obligation (as a percent) | 76.00% |
ALLOWANCE FOR CREDIT LOSSES - Schedule of Activity for Allowance for Credit Losses (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Credit Loss [Abstract] | |||
| Balance at beginning of period | $ 12,108 | $ 13,828 | $ 16,473 |
| Credit loss expense (recovery) | 9,874 | 8,622 | (2,007) |
| Write-off/adjustments | (7,724) | (9,196) | (638) |
| Divestiture of AMC business (Note 19) | (1,146) | ||
| Balance at end of period | $ 14,258 | $ 12,108 | $ 13,828 |
ALLOWANCE FOR CREDIT LOSSES - Additional Information (Details) - USD ($) $ in Millions |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Credit Loss [Abstract] | ||
| Unbilled receivables | $ 56.7 | $ 62.1 |
| Allowance for credit loss, contract assets | $ 0.4 | $ 0.5 |
PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Jun. 30, 2024 |
Jun. 30, 2025 |
|
| Property, Plant and Equipment [Line Items] | ||
| Cost | $ 1,118,914 | $ 1,210,576 |
| Accumulated Depreciation | (751,174) | (835,324) |
| Net | 367,740 | 375,252 |
| Disposal by sale | Company owned facility | ||
| Property, Plant and Equipment [Line Items] | ||
| Carrying value of company owned facility, proposed sale | 4,500 | |
| Gain on sale | 1,000 | |
| Computer hardware | ||
| Property, Plant and Equipment [Line Items] | ||
| Cost | 423,689 | 442,631 |
| Accumulated Depreciation | (281,331) | (290,373) |
| Net | 142,358 | 152,258 |
| Computer software | ||
| Property, Plant and Equipment [Line Items] | ||
| Cost | 201,942 | 225,073 |
| Accumulated Depreciation | (161,726) | (187,371) |
| Net | 40,216 | 37,702 |
| Capitalized software development costs | ||
| Property, Plant and Equipment [Line Items] | ||
| Cost | 250,941 | 283,449 |
| Accumulated Depreciation | (153,285) | (187,917) |
| Net | 97,656 | 95,532 |
| Leasehold improvements | ||
| Property, Plant and Equipment [Line Items] | ||
| Cost | 128,787 | 142,279 |
| Accumulated Depreciation | (94,605) | (105,349) |
| Net | 34,182 | 36,930 |
| Land and buildings | ||
| Property, Plant and Equipment [Line Items] | ||
| Cost | 59,472 | 60,613 |
| Accumulated Depreciation | (19,333) | (20,920) |
| Net | 40,139 | 39,693 |
| Furniture, equipment and other | ||
| Property, Plant and Equipment [Line Items] | ||
| Cost | 54,083 | 56,531 |
| Accumulated Depreciation | (40,894) | (43,394) |
| Net | $ 13,189 | $ 13,137 |
LEASES - Additional Information (Details) $ in Millions |
Jun. 30, 2025
USD ($)
|
|---|---|
| Lessee, Lease, Description [Line Items] | |
| Sublease income to be received remainder of fiscal year | $ 9.6 |
| Sublease income to be received thereafter | $ 16.0 |
| Land | |
| Lessee, Lease, Description [Line Items] | |
| Operating leases, term of contract (in years) | 49 years |
| Operating leases, term of extension option (in years) | 49 years |
| Minimum | |
| Lessee, Lease, Description [Line Items] | |
| Operating leases, term of contract (in years) | 1 year |
| Operating leases, term of extension option (in years) | 3 years |
| Minimum | Equipment | |
| Lessee, Lease, Description [Line Items] | |
| Useful life (in years) | 4 years |
| Maximum | |
| Lessee, Lease, Description [Line Items] | |
| Operating leases, term of contract (in years) | 10 years |
| Operating leases, term of extension option (in years) | 5 years |
| Maximum | Equipment | |
| Lessee, Lease, Description [Line Items] | |
| Useful life (in years) | 5 years |
LEASES - Schedule of Condensed Consolidated Balance Sheets Information Related to Leases (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Operating Leases | ||
| Operating lease right of use assets | $ 197,977 | $ 219,774 |
| Operating lease liabilities (current) | 75,914 | 76,446 |
| Operating lease liabilities (non-current) | 189,949 | 218,174 |
| Total | 265,863 | 294,620 |
| Finance Leases | ||
| Finance lease receivables (current) | 1,867 | 4,031 |
| Finance lease receivables (non-current) | 457 | 2,329 |
| Total finance lease receivables | 2,324 | 6,360 |
| Finance lease liabilities (current) | 1,877 | 3,173 |
| Finance lease liabilities (non-current) | 457 | 2,327 |
| Total | $ 2,334 | $ 5,500 |
| Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Accounts Payable and Accrued Liabilities | Accounts Payable and Accrued Liabilities |
| Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] | Accounts payable and accrued liabilities (Note 10) | Accounts payable and accrued liabilities (Note 10) |
| Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] | Accrued liabilities (Note 10) | Accrued liabilities (Note 10) |
LEASES - Schedule of Weighted Average Remaining Lease Term (Details) |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Weighted-average remaining lease term | ||
| Operating leases | 4 years 7 months 2 days | 5 years 1 month 17 days |
| Finance leases | 1 year 2 months 23 days | 1 year 10 months 6 days |
| Weighted-average discount rate | ||
| Operating leases | 4.92% | 5.00% |
| Finance leases | 5.33% | 5.47% |
LEASES - Schedule of Lease Costs and Other Information (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Leases [Abstract] | |||
| Operating lease cost | $ 82,174 | $ 90,383 | $ 72,977 |
| Short-term lease cost | 2,028 | 2,920 | 4,195 |
| Variable lease cost | 4,103 | 5,084 | 3,488 |
| Sublease income | (11,254) | (12,941) | (12,518) |
| Total lease cost | $ 77,051 | $ 85,446 | $ 68,142 |
LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Cash Paid For Amounts Included In The Measurement Of Lease Liabilities [Abstract] | |||
| Operating leases | $ 98,418 | $ 109,708 | $ 93,556 |
| Finance leases | 3,369 | 5,722 | 2,473 |
| Right Of Use Assets Obtained In Exchange For New Lease Liabilities [Abstract] | |||
| Right of use assets obtained in exchange for new operating lease liabilities | $ 53,541 | $ 30,869 | 29,551 |
| Micro Focus | |||
| Right Of Use Assets Obtained In Exchange For New Lease Liabilities [Abstract] | |||
| ROU assets acquired | $ 129,700 | ||
LEASES - Schedule of Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Operating Leases | ||
| 2026 | $ 86,661 | |
| 2027 | 74,153 | |
| 2028 | 53,427 | |
| 2029 | 31,315 | |
| 2030 | 18,105 | |
| Thereafter | 30,950 | |
| Total lease payments | 294,611 | |
| Less: Imputed interest | (28,748) | |
| Total | 265,863 | |
| Finance Leases | ||
| 2026 | 1,947 | |
| 2027 | 459 | |
| 2028 | 0 | |
| 2029 | 0 | |
| 2030 | 0 | |
| Thereafter | 0 | |
| Total lease payments | 2,406 | |
| Less: Imputed interest | (72) | |
| Total | $ 2,334 | $ 5,500 |
GOODWILL (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Goodwill [Roll Forward] | ||
| Beginning balance | $ 7,488,367 | $ 8,662,603 |
| Impact of foreign exchange rate changes | 27,510 | (7,419) |
| Ending balance | 7,517,463 | 7,488,367 |
| Micro Focus | ||
| Goodwill [Roll Forward] | ||
| Acquisitions | (32,063) | |
| AMC | ||
| Goodwill [Roll Forward] | ||
| Divestiture of AMC business | 1,390 | (1,139,403) |
| Other Acquisitions | ||
| Goodwill [Roll Forward] | ||
| Other acquisition | $ 4,649 | |
| Pillr | ||
| Goodwill [Roll Forward] | ||
| Acquisitions | $ (196) | |
ACQUIRED INTANGIBLE ASSETS - Schedule of Acquired Intangibles by Asset Class (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Finite-Lived Intangible Assets, Net [Abstract] | ||
| Cost | $ 3,700,086 | $ 3,915,828 |
| Accumulated Amortization | (1,723,495) | (1,429,564) |
| Total | 1,976,591 | 2,486,264 |
| Technology assets | ||
| Finite-Lived Intangible Assets, Net [Abstract] | ||
| Cost | 1,064,400 | 1,153,457 |
| Accumulated Amortization | (441,705) | (342,528) |
| Total | 622,695 | 810,929 |
| Customer assets | ||
| Finite-Lived Intangible Assets, Net [Abstract] | ||
| Cost | 2,635,686 | 2,762,371 |
| Accumulated Amortization | (1,281,790) | (1,087,036) |
| Total | $ 1,353,896 | $ 1,675,335 |
ACQUIRED INTANGIBLE ASSETS - Additional Information (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Technology assets | ||
| Intangible Asset, Acquired, Finite-Lived [Line Items] | ||
| Reduction to technology assets | $ 89.6 | $ 239.7 |
| Acquired finite-lived intangible assets, weighted average useful life (in years) | 6 years | |
| Customer assets | ||
| Intangible Asset, Acquired, Finite-Lived [Line Items] | ||
| Reduction to technology assets | $ 129.8 | $ 321.5 |
| Acquired finite-lived intangible assets, weighted average useful life (in years) | 9 years | |
ACQUIRED INTANGIBLE ASSETS - Schedule of Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Goodwill and Intangible Assets Disclosure [Abstract] | ||
| 2026 | $ 467,153 | |
| 2027 | 396,748 | |
| 2028 | 379,380 | |
| 2029 | 283,344 | |
| 2030 | 209,344 | |
| 2031 and Thereafter | 240,622 | |
| Total | $ 1,976,591 | $ 2,486,264 |
PREPAID EXPENSES AND OTHER ASSETS - Schedule of Components of Prepaid Expenses and Other Assets (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Prepaid expenses and other current assets: | ||
| Deposits and restricted cash | $ 2,456 | $ 4,142 |
| Capitalized costs to obtain a contract | 44,311 | 44,577 |
| Short-term prepaid expenses and other current assets | 148,824 | 192,065 |
| Derivative asset | 2,984 | 2,127 |
| Total | 198,575 | 242,911 |
| Other assets: | ||
| Deposits and restricted cash | 22,720 | 20,063 |
| Capitalized costs to obtain a contract | 84,715 | 64,911 |
| Investments | 116,704 | 124,168 |
| Available-for-sale financial assets | 45,074 | 40,541 |
| Long-term prepaid expenses and other long-term assets | 38,480 | 48,598 |
| Total | $ 307,693 | $ 298,281 |
PREPAID EXPENSES AND OTHER ASSETS - Additional Information (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Schedule of Equity Method Investments [Line Items] | |||
| OpenText share in net income of equity investees | $ 230 | $ (18,194) | $ (23,077) |
| Minimum | Limited Partner Investments | |||
| Schedule of Equity Method Investments [Line Items] | |||
| Ownership by noncontrolling owners (as a percent) | 4.00% | ||
| Maximum | Limited Partner Investments | |||
| Schedule of Equity Method Investments [Line Items] | |||
| Ownership by noncontrolling owners (as a percent) | 20.00% | ||
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES - Schedule of Current Liabilities (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Accounts Payable and Accrued Liabilities [Abstract] | ||
| Accounts payable—trade | $ 136,204 | $ 151,202 |
| Accrued salaries, incentives and commissions | 254,230 | 267,991 |
| Accrued liabilities | 229,070 | 262,190 |
| Accrued sales and other tax liabilities | 32,964 | 21,167 |
| Derivative liability | 275,810 | 159,234 |
| Accrued interest on long-term debt | 37,729 | 38,670 |
| Amounts payable in respect of restructuring and other special charges | 53,771 | 22,489 |
| Asset retirement obligations | 6,805 | 8,173 |
| Total | $ 1,026,583 | $ 931,116 |
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES - Schedule of Long-Term Accrued Liabilities (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Accounts Payable and Accrued Liabilities [Abstract] | ||
| Amounts payable in respect of restructuring and other special charges | $ 8,591 | $ 9,682 |
| Other accrued liabilities | 10,801 | 15,390 |
| Asset retirement obligations | 22,920 | 21,411 |
| Total | $ 42,312 | $ 46,483 |
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES - Additional Information (Details) - USD ($) $ in Millions |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Accounts Payable and Accrued Liabilities [Abstract] | ||
| Present value of asset retirement obligation | $ 29.7 | $ 29.6 |
| Undiscounted value of asset retirement obligation | $ 32.2 | $ 32.8 |
LONG-TERM DEBT - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Debt Instrument [Line Items] | |||
| Total principal payments due | $ 6,485,375 | $ 6,521,225 | |
| Unamortized debt discount and issuance costs | (107,454) | (128,432) | |
| Total amount outstanding | 6,377,921 | 6,392,793 | |
| Less: | |||
| Current portion of long-term debt | 35,850 | 35,850 | |
| Non-current portion of long-term debt | 6,342,071 | 6,356,943 | |
| Loss on extinguishment of debt | 0 | 56,393 | $ 8,152 |
| Acquisition Term Loan | |||
| Less: | |||
| Current portion of long-term debt | 35,850 | 35,850 | |
| Senior Secured Notes 2027 And Acquisition Term Loan | |||
| Less: | |||
| Debt issuance costs | 3,500 | ||
| Senior Notes | Senior Notes 2031 | |||
| Debt Instrument [Line Items] | |||
| Total principal payments due | 650,000 | 650,000 | |
| Senior Notes | Senior Notes 2030 | |||
| Debt Instrument [Line Items] | |||
| Total principal payments due | 900,000 | 900,000 | |
| Senior Notes | Senior Notes 2029 | |||
| Debt Instrument [Line Items] | |||
| Total principal payments due | 850,000 | 850,000 | |
| Senior Notes | Senior Notes 2028 | |||
| Debt Instrument [Line Items] | |||
| Total principal payments due | 900,000 | 900,000 | |
| Senior Notes | Senior Secured Notes 2027 | |||
| Debt Instrument [Line Items] | |||
| Total principal payments due | 1,000,000 | 1,000,000 | |
| Line of Credit | Acquisition Term Loan | Secured Debt | |||
| Debt Instrument [Line Items] | |||
| Total principal payments due | 2,185,375 | $ 2,221,225 | |
| Line of Credit | Acquisition Term Loan And Revolver | Secured Debt | |||
| Less: | |||
| Debt issuance costs | $ 1,000 | ||
LONG-TERM DEBT - Additional Information (Details) |
12 Months Ended | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Nov. 27, 2024 |
May 15, 2024 |
May 06, 2024
USD ($)
|
Jan. 22, 2024
USD ($)
|
Dec. 19, 2023 |
Oct. 20, 2023
USD ($)
|
Aug. 14, 2023 |
Aug. 25, 2022
USD ($)
|
Jun. 30, 2025
USD ($)
|
Jun. 30, 2024
USD ($)
|
Jun. 30, 2023
USD ($)
|
Jan. 31, 2023
USD ($)
|
Dec. 01, 2022
USD ($)
|
Nov. 24, 2021
USD ($)
|
Feb. 18, 2020
USD ($)
|
May 30, 2018
USD ($)
|
Jan. 16, 2014
USD ($)
|
|
| Debt Instrument [Line Items] | |||||||||||||||||
| Total principal payments due | $ 6,485,375,000 | $ 6,521,225,000 | |||||||||||||||
| Loss on extinguishment of debt | 0 | (56,393,000) | $ (8,152,000) | ||||||||||||||
| Amortization of debt discount and issuance costs | 21,977,000 | 25,257,000 | 16,753,000 | ||||||||||||||
| Line of Credit | Revolving credit facility | |||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||
| Interest expense | 2,200,000 | 10,100,000 | |||||||||||||||
| Total principal payments due | $ 0 | 0 | $ 450,000,000 | ||||||||||||||
| Leverage ratio, compliance maximum | 4.50 | 3.25 | |||||||||||||||
| Commitment fee percentage | 0.30% | ||||||||||||||||
| Commitment fees | $ 2,300,000 | 2,100,000 | 1,800,000 | ||||||||||||||
| Line of Credit | Revolving credit facility | Minimum | |||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||
| Interest addition to floating rate (as a percent) | 1.25% | ||||||||||||||||
| Line of Credit | Revolving credit facility | Maximum | |||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||
| Interest addition to floating rate (as a percent) | 1.75% | ||||||||||||||||
| Senior Notes 2031 | Senior Notes | |||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||
| Debt instrument face amount | $ 650,000,000 | ||||||||||||||||
| Debt instrument interest rate (as a percent) | 4.125% | ||||||||||||||||
| Interest expense | 26,800,000 | 26,800,000 | 26,800,000 | ||||||||||||||
| Total principal payments due | 650,000,000 | 650,000,000 | |||||||||||||||
| Senior Notes 2030 | Senior Notes | |||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||
| Debt instrument face amount | $ 900,000,000 | ||||||||||||||||
| Debt instrument interest rate (as a percent) | 4.125% | ||||||||||||||||
| Interest expense | 37,100,000 | 37,100,000 | 37,100,000 | ||||||||||||||
| Total principal payments due | 900,000,000 | 900,000,000 | |||||||||||||||
| Senior Notes 2029 | Senior Notes | |||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||
| Debt instrument face amount | $ 850,000,000 | ||||||||||||||||
| Debt instrument interest rate (as a percent) | 3.875% | ||||||||||||||||
| Interest expense | 32,900,000 | 32,900,000 | 32,900,000 | ||||||||||||||
| Total principal payments due | 850,000,000 | 850,000,000 | |||||||||||||||
| Senior Notes 2028 | Senior Notes | |||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||
| Debt instrument face amount | $ 900,000,000 | ||||||||||||||||
| Debt instrument interest rate (as a percent) | 3.875% | ||||||||||||||||
| Interest expense | 34,900,000 | 34,900,000 | 34,900,000 | ||||||||||||||
| Total principal payments due | $ 900,000,000 | 900,000,000 | |||||||||||||||
| Senior Secured Notes 2027 | |||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||
| Debt instrument interest rate (as a percent) | 6.90% | ||||||||||||||||
| Effective interest rate (as a percent) | 7.39% | ||||||||||||||||
| Amortization of debt discount and issuance costs | $ 2,900,000 | ||||||||||||||||
| Senior Secured Notes 2027 | Senior Notes | |||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||
| Debt instrument face amount | $ 1,000,000,000 | ||||||||||||||||
| Interest expense | 69,000,000.0 | 69,000,000.0 | 40,300,000 | ||||||||||||||
| Total principal payments due | $ 1,000,000,000 | 1,000,000,000 | |||||||||||||||
| Acquisition Term Loan | |||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||
| Effective interest rate (as a percent) | 7.12% | ||||||||||||||||
| Amortization of debt discount and issuance costs | $ 14,700,000 | ||||||||||||||||
| Leverage ratio | 3.25 | ||||||||||||||||
| Acquisition Term Loan | Line of Credit | Secured Debt | |||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||
| Debt instrument face amount | $ 3,585,000,000 | $ 3,585,000,000 | |||||||||||||||
| Debt instrument interest rate (as a percent) | 1.75% | 6.08% | |||||||||||||||
| Interest expense | $ 148,400,000 | 272,500,000 | 125,700,000 | ||||||||||||||
| Total principal payments due | 2,185,375,000 | 2,221,225,000 | |||||||||||||||
| Repayment of line of credit | $ 1,060,000,000.00 | $ 175,000,000 | $ 75,000,000 | ||||||||||||||
| Interest addition to floating rate (as a percent) | 0.10% | ||||||||||||||||
| Leverage ratio, compliance maximum | 2.75 | ||||||||||||||||
| Reduction of applicable interest rate margin | 0.50% | 0.50% | 0.75% | ||||||||||||||
| Term loan period (in years) | 7 years | ||||||||||||||||
| Quarterly repayment as percentage of principal | 0.25% | ||||||||||||||||
| Credit agreement, maximum capacity | $ 250,000,000 | ||||||||||||||||
| Acquisition Term Loan | Line of Credit | Secured Debt | Minimum | |||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||
| Debt instrument face amount | $ 2,585,000,000 | ||||||||||||||||
| Acquisition Term Loan | Line of Credit | Secured Debt | Maximum | |||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||
| Leverage ratio | 4.50 | ||||||||||||||||
| Term Loan B | |||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||
| Debt instrument face amount | $ 1,000,000,000 | $ 800,000,000 | |||||||||||||||
| Interest expense | $ 0 | $ 58,400,000 | $ 54,000,000.0 | ||||||||||||||
| Term Loan B | Line of Credit | Secured Debt | |||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||
| Total principal payments due | 0 | ||||||||||||||||
| Repayment of line of credit | $ 940,000,000 | ||||||||||||||||
PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Additional Information (Details) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
|
Jun. 30, 2025
USD ($)
plan
|
Jun. 30, 2024
USD ($)
|
Jun. 30, 2023
USD ($)
|
|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Number of pension and postretirement plans | plan | 45 | ||
| Number of defined benefit and other postretirement plans | plan | 30 | ||
| Geographic concentration percentage of pension obligations (as percent) | 49.00% | ||
| Cash contributions | $ 9,200 | $ 4,200 | $ 6,500 |
| Defined benefit plan, expected future employer contributions, next fiscal year | 9,300 | ||
| Asset | 2,984 | 2,127 | |
| Defined contribution plan, cost | 50,500 | $ 54,700 | $ 40,000 |
| Level 3 | Recurring | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Asset | 27,400 | ||
| Pension Plan | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Liability, defined benefit pension plan | $ 38,800 | ||
| Defined benefit plan, funded (as percent) | 82.00% | ||
| Fair value of acquired plan assets | $ 182,600 | ||
PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Schedule of Defined Benefit Plans (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|---|---|---|---|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Non-current portion of benefit obligation | $ 132,215 | $ 127,255 | |
| Pension Plan | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Plan assets | 237,823 | 217,324 | $ 208,363 |
| Projected benefit obligations | (374,690) | (349,427) | $ (339,179) |
| Funded status | (136,867) | (132,103) | |
| Current portion of benefit obligation | 4,652 | 4,848 | |
| Non-current portion of benefit obligation | 132,215 | 127,255 | |
| Total | $ 136,867 | $ 132,103 |
PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Schedule of the Change in Benefit Obligation (Details) - Pension Plan - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
| Benefit obligation—beginning of fiscal year | $ 349,427 | $ 339,179 | |
| Service cost | 11,082 | 11,073 | $ 6,921 |
| Interest cost | 13,008 | 12,345 | 7,091 |
| Benefits paid | (11,161) | (3,204) | |
| Company contributions | 0 | (3,849) | |
| Employee contributions | 1,703 | 2,007 | |
| Plan settlement | (7,440) | (7,089) | |
| Plan amendment | (2,948) | 1,501 | |
| Curtailment (gain) loss | (927) | 0 | |
| Net transfers | 0 | (228) | |
| Actuarial (gain) loss | (1,273) | 3,412 | |
| Other events | (762) | 0 | |
| Foreign exchange (gain) loss | 23,981 | (5,720) | |
| Benefit obligation—end of period | 374,690 | 349,427 | 339,179 |
| Benefit obligation | 374,690 | 349,427 | $ 339,179 |
| Less: Current portion | 4,652 | 4,848 | |
| Non-current portion of benefit obligation | $ 370,038 | $ 344,579 | |
PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Schedule of the Change in Plan Assets (Details) - Pension Plan - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
| Plan assets—beginning of fiscal year | $ 217,324 | $ 208,363 | |
| Benefit payments from plan assets | (11,161) | (2,520) | |
| Expected return on plan assets | 11,790 | 11,400 | $ 5,502 |
| Return on plan assets | (1,304) | 3,973 | |
| Company contributions | 9,217 | 3,454 | |
| Employee contributions | 1,703 | 2,007 | |
| Plan settlement | (7,440) | (7,089) | |
| Foreign exchange (gain) loss | 17,694 | (2,264) | |
| Plan assets—end of period | $ 237,823 | $ 217,324 | $ 208,363 |
PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Components of Net Pension Expense (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Net pension expense | $ 14,593 | $ 13,881 | $ 9,207 |
| Pension Plan | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Service cost | 11,082 | 11,073 | 6,921 |
| Interest cost | 13,008 | 12,345 | 7,091 |
| Expected return of plan assets | (11,790) | (11,400) | (5,502) |
| Amortization of actuarial (gains) losses | 1,306 | 643 | 246 |
| Settlement cost | 987 | 1,220 | 451 |
| Net pension expense | $ 14,593 | $ 13,881 | $ 9,207 |
PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS- Schedule of Amounts Recognized in Other Comprehensive Income (Details) - USD ($) $ in Thousands |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||
| Net actuarial gain (loss) | [1] | $ 1,876 | $ 640 | $ (6,605) | |||
| Amortization of actuarial loss | [2] | 965 | 450 | 325 | |||
| Total other comprehensive income (loss), net | 2,552 | (16,060) | (45,900) | ||||
| Pension Plan | |||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||
| Net actuarial gain (loss) | 322 | 1,598 | (9,017) | ||||
| Amortization of actuarial loss | 1,306 | 643 | 246 | ||||
| Settlement cost and plan amendments | 2,452 | (193) | 673 | ||||
| Curtailment | 788 | 0 | 0 | ||||
| Total other comprehensive income (loss), net | $ 4,868 | $ 2,048 | $ (8,098) | ||||
| |||||||
PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Schedule of Defined Benefit Plans Disclosures (Details) - Pension Plan - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|---|---|---|---|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | $ 237,823 | $ 217,324 | $ 208,363 |
| Level 1 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 211,899 | 190,686 | |
| Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 19,457 | 19,980 | |
| Level 3 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 6,467 | 6,658 | |
| Cash | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 2,041 | 2,444 | |
| Cash | Level 1 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 2,041 | 2,444 | |
| Cash | Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
| Cash | Level 3 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
| Debt funds | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 100,159 | 91,565 | |
| Debt funds | Level 1 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 91,908 | 82,264 | |
| Debt funds | Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 8,251 | 9,301 | |
| Debt funds | Level 3 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
| Equity funds | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 101,403 | 85,660 | |
| Equity funds | Level 1 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 94,844 | 79,538 | |
| Equity funds | Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 6,559 | 6,122 | |
| Equity funds | Level 3 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 0 | 0 | |
| Real estate funds | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 9,409 | 9,279 | |
| Real estate funds | Level 1 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 5,014 | 4,438 | |
| Real estate funds | Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 73 | 70 | |
| Real estate funds | Level 3 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 4,322 | 4,771 | |
| Other | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 24,811 | 28,376 | |
| Other | Level 1 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 18,092 | 22,002 | |
| Other | Level 2 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | 4,574 | 4,487 | |
| Other | Level 3 | |||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Fair value of plan assets | $ 2,145 | $ 1,887 |
PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Defined Benefit Obligations (Details) - Pension Plan - year |
12 Months Ended | |
|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Defined Benefit Plan Disclosure [Line Items] | ||
| Salary increases | 3.20% | 3.00% |
| Pension increases | 2.00% | 2.10% |
| Discount rate | 3.90% | 3.80% |
| Expected return on plan assets | 5.60% | 5.50% |
| Normal retirement age (in years) | 64 | 64 |
PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Anticipated Pension Payments Under Pension Plans (Details) - Pension Plan $ in Thousands |
Jun. 30, 2025
USD ($)
|
|---|---|
| Defined Benefit Plan Disclosure [Line Items] | |
| 2025 | $ 18,076 |
| 2026 | 16,440 |
| 2027 | 18,425 |
| 2028 | 19,668 |
| 2029 | 19,867 |
| 2030 to 2034 | 113,652 |
| Total | $ 206,128 |
EQUITY AND SHARE-BASED COMPENSATION - Additional Information (Details) - USD ($) |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
Jul. 31, 2024 |
Apr. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
Mar. 13, 2025 |
|
| Cash Dividends | ||||||
| Dividends declared per common share (in dollars per share) | $ 1.0500 | $ 1.00 | $ 0.972 | |||
| Payments of dividends | $ 271,523,000 | $ 267,362,000 | $ 259,549,000 | |||
| Share Capital | ||||||
| Preference shares issued (in shares) | 0 | |||||
| Treasury Stock | ||||||
| Purchase of treasury stock (in shares) | 4,619,276 | 1,400,000 | 521,136 | |||
| Purchase of treasury stock, including settlement amount, inclusive of tax | $ 133,100,000 | $ 53,100,000 | $ 21,900,000 | |||
| Purchase of treasury stock | $ 130,649,000 | $ 53,085,000 | $ 21,919,000 | |||
| Issuance of treasury stock (in shares) | 3,107,220 | 1,800,395 | 691,181 | |||
| Stock Repurchase Plan | ||||||
| Stock repurchased and retired (in shares) | 5,073,913 | 0 | ||||
| Stock repurchased and retired | $ 442,590,000 | $ 152,333,000 | $ 0 | |||
| Accrual amount | $ 24,800,000 | |||||
| Performance options granted (in shares) | 2,620,150 | |||||
| Aggregate intrinsic value of options exercised | $ 400,000 | 7,000,000.0 | 1,800,000 | |||
| Cash proceeds from exercise of options granted | 3,700,000 | 31,400,000 | 7,800,000 | |||
| Tax benefit realized from exercise of options | $ 100,000 | $ 1,500,000 | $ 300,000 | |||
| Twenty Twenty Four Share Repurchase Plan | ||||||
| Stock Repurchase Plan | ||||||
| Stock repurchase plan, period in force (in months) | 12 months | |||||
| Stock repurchase plan, authorized amount | $ 250,000,000 | |||||
| Twenty Twenty Five Share Repurchase Plan | ||||||
| Stock Repurchase Plan | ||||||
| Stock repurchase plan, period in force (in months) | 12 months | |||||
| Stock repurchase plan, authorized amount | $ 300,000,000 | $ 450,000,000 | ||||
| Stock repurchase plan, authorized amount, increase (decrease) | $ 150,000,000 | |||||
| Stock repurchased and retired (in shares) | 14,524,664 | |||||
| Stock repurchased and retired | $ 418,300,000 | |||||
| Employee stock option | ||||||
| Stock Repurchase Plan | ||||||
| Weighted-average fair value of options granted (in dollars per share) | $ 5.80 | $ 9.00 | $ 6.75 | |||
| Expiration period of options, minimum term (in years) | 7 years | |||||
| Expiration period of options, maximum term (in years) | 10 years | |||||
| Performance stock options | ||||||
| Stock Repurchase Plan | ||||||
| Weighted-average fair value of options granted (in dollars per share) | $ 0 | $ 0 | $ 8.09 | |||
| Performance options granted (in shares) | 0 | 0 | 1,000,000 | |||
| Deferred Share Units (DSUs) | ||||||
| Stock Repurchase Plan | ||||||
| Options granted (in shares) | 118,330 | |||||
| Shares issued (in shares) | 296,831 | 0 | 30,273 | |||
| Value of shares issued | $ 7,600,000 | $ 0 | $ 1,100,000 | |||
| PSUs | ||||||
| Stock Repurchase Plan | ||||||
| Weighted-average fair value of options granted (in dollars per share) | $ 40.14 | |||||
| Options granted (in shares) | 0 | 0 | ||||
| Restricted Stock Units (RSUs) | ||||||
| Stock Repurchase Plan | ||||||
| Options granted (in shares) | 923,127 | |||||
| Minimum | Employee stock option | ||||||
| Stock Repurchase Plan | ||||||
| Award vesting period (in years) | 4 years | |||||
| Minimum | Restricted Stock Units (RSUs) | ||||||
| Stock Repurchase Plan | ||||||
| Award vesting period (in years) | 2 years | |||||
| Maximum | Employee stock option | ||||||
| Stock Repurchase Plan | ||||||
| Award vesting period (in years) | 5 years | |||||
| Maximum | Restricted Stock Units (RSUs) | ||||||
| Stock Repurchase Plan | ||||||
| Award vesting period (in years) | 4 years | |||||
| Long Term Incentive Plan | ||||||
| Treasury Stock | ||||||
| Issuance of treasury stock (in shares) | 350,698 | |||||
| Stock Repurchase Plan | ||||||
| Award vesting period (in years) | 3 years | |||||
| Long Term Incentive Plan | PSUs | ||||||
| Stock Repurchase Plan | ||||||
| Options granted (in shares) | 982,503 | |||||
| Award vesting period (in years) | 3 years | |||||
| Long Term Incentive Plan | Restricted Stock Units (RSUs) | ||||||
| Stock Repurchase Plan | ||||||
| Options granted (in shares) | 699,220 | |||||
| Award vesting period (in years) | 3 years | |||||
EQUITY AND SHARE-BASED COMPENSATION - Schedule of Share-Based Payments (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Total share-based compensation expense | $ 104,840 | $ 140,079 | $ 130,302 |
| Employee stock option | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Total share-based compensation expense | 15,694 | 18,167 | 20,144 |
| Performance Share Units (issued under LTIP) | Long Term Incentive Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Total share-based compensation expense | 21,121 | 26,415 | 18,631 |
| Restricted Share Units (RSUs) | Long Term Incentive Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Total share-based compensation expense | 15,418 | 10,677 | 9,762 |
| Restricted Share Units (RSUs) | Other plans | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Total share-based compensation expense | 42,706 | 75,642 | 72,149 |
| Deferred Share Units (DSUs) | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Total share-based compensation expense | 3,922 | 3,162 | 4,036 |
| Employee Stock ESPP | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Total share-based compensation expense | $ 5,979 | $ 6,016 | $ 5,580 |
EQUITY AND SHARE-BASED COMPENSATION - Unrecognized Compensation Cost (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Jun. 30, 2025
USD ($)
| |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Unrecognized Compensation Cost | $ 120,813 |
| Employee stock option | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Unrecognized Compensation Cost | $ 33,672 |
| Weighted Average Recognition Period (years) | 2 years 3 months 25 days |
| PSUs | Long Term Incentive Plan | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Unrecognized Compensation Cost | $ 39,948 |
| Weighted Average Recognition Period (years) | 1 year 10 months 6 days |
| Restricted Stock Units (RSUs) | Long Term Incentive Plan | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Unrecognized Compensation Cost | $ 13,221 |
| Weighted Average Recognition Period (years) | 1 year 3 months 29 days |
| Restricted Stock Units (RSUs) | Other plans | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Unrecognized Compensation Cost | $ 33,972 |
| Weighted Average Recognition Period (years) | 1 year 6 months 14 days |
EQUITY AND SHARE-BASED COMPENSATION - Schedule of Stock Options Outstanding Under Various Stock Option Plans (Details) - $ / shares |
12 Months Ended | 249 Months Ended | |
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Options exercised to date (in shares) | (139,077) | ||
| Options outstanding (in shares) | 12,306,554 | 12,306,554 | 12,207,412 |
| Employee stock option | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Options available for issuance (in shares) | 4,780,548 | 4,780,548 | |
| 2004 Stock Option Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Options grated to date (in shares) | 50,635,497 | ||
| Options exercised to date (in shares) | (23,076,178) | ||
| Options cancelled to date (in shares) | (15,252,765) | ||
| Options outstanding (in shares) | 12,306,554 | 12,306,554 | |
| Vesting schedule | 25.00% | ||
| Minimum exercise price (in dollars per share) | $ 25.85 | ||
| Maximum exercise price (in dollars per share) | $ 52.62 | ||
| 2004 Stock Option Plan | Minimum | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Termination grace periods | 90 days | ||
| 2004 Stock Option Plan | Maximum | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Termination grace periods | 180 days |
EQUITY AND SHARE-BASED COMPENSATION - Schedule of Outstanding Stock Options Activity (Details) $ / shares in Units, $ in Thousands |
12 Months Ended | |
|---|---|---|
|
Jun. 30, 2025
USD ($)
$ / shares
shares
|
Jun. 30, 2024
USD ($)
$ / shares
shares
|
|
| Options | ||
| Outstanding at beginning of period (in shares) | shares | 12,207,412 | |
| Granted (in shares) | shares | 2,620,150 | |
| Exercised (in shares) | shares | (139,077) | |
| Forfeited or expired (in shares) | shares | (2,381,931) | |
| Outstanding at end of period (in shares) | shares | 12,306,554 | 12,207,412 |
| Exercisable ending balance (in shares) | shares | 5,321,170 | |
| Weighted- Average Exercise Price | ||
| Outstanding at beginning of period (in dollars per share) | $ / shares | $ 38.51 | |
| Granted (in dollars per share) | $ / shares | 28.21 | |
| Exercised (in dollars per share) | $ / shares | 26.81 | |
| Forfeited or expired (in dollars per share) | $ / shares | 37.04 | |
| Outstanding at end of period (in dollars per share) | $ / shares | 36.73 | $ 38.51 |
| Exercisable at end of period (in dollars per share) | $ / shares | $ 40.67 | |
| Weighted- Average Remaining Contractual Term (years) | ||
| Outstanding | 3 years 11 months 4 days | 4 years 3 months 21 days |
| Exercisable | 2 years 7 months 28 days | |
| Aggregate Intrinsic Value ($’000’s) | ||
| Outstanding | $ | $ 5,942 | $ 6,142 |
| Exercisable | $ | $ 1,139 | |
EQUITY AND SHARE-BASED COMPENSATION - Schedule of Weighted-Average Fair Value Of Options And Weighted-Average Assumptions Used (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Employee stock option | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Weighted-average fair value of options granted (in dollars per share) | $ 5.80 | $ 9.00 | $ 6.75 |
| Weighted-average assumptions used: | |||
| Expected volatility | 28.96% | 30.46% | 28.73% |
| Risk–free interest rate | 3.81% | 4.44% | 3.98% |
| Expected dividend yield | 3.60% | 2.73% | 3.07% |
| Expected life (in years) | 4 years 3 months 25 days | 4 years 3 months 3 days | 4 years 2 months 12 days |
| Forfeiture rate (based on historical rates) | 7.00% | 7.00% | 7.00% |
| Average exercised share price (in dollars per share) | $ 26.81 | $ 36.55 | $ 31.13 |
| Performance stock options | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Weighted-average fair value of options granted (in dollars per share) | $ 0 | $ 0 | $ 8.09 |
| Derived service period (in years) | 0 years | 0 years | 1 year 8 months 12 days |
| Weighted-average assumptions used: | |||
| Expected volatility | 0.00% | 0.00% | 26.00% |
| Risk–free interest rate | 0.00% | 0.00% | 3.21% |
| Expected dividend yield | 0.00% | 0.00% | 2.00% |
| Average exercised share price (in dollars per share) | $ 0 | $ 0 | $ 31.89 |
| PSUs | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Weighted-average fair value of options granted (in dollars per share) | $ 40.14 | ||
| Weighted-average assumptions used: | |||
| Expected volatility | 30.26% | 28.05% | 29.00% |
| Expected dividend yield | 0.00% | 0.00% | 0.00% |
| Expected life (in years) | 3 years 1 month 9 days | 3 years | 3 years 1 month 9 days |
| Forfeiture rate (based on historical rates) | 7.00% | 7.00% | 7.00% |
| Average exercised share price (in dollars per share) | $ 75.14 | $ 0 | $ 41.75 |
| Aggregate intrinsic value of performance share units vested ($ in ‘000’s) | $ 8,020 | $ 0 | $ 6,216 |
| PSUs | Minimum | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Weighted-average fair value of instruments other than options granted (in dollars per share) | $ 47.96 | $ 21.17 | $ 43.10 |
| Weighted-average assumptions used: | |||
| Risk–free interest rate | 3.67% | 4.38% | 3.13% |
| PSUs | Maximum | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Weighted-average fair value of instruments other than options granted (in dollars per share) | $ 59.48 | $ 55.06 | |
| Weighted-average assumptions used: | |||
| Risk–free interest rate | 4.95% | 3.39% | |
| PSUs | Long Term Incentive Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Weighted-average fair value of instruments other than options granted (in dollars per share) | $ 46.58 | ||
| Restricted Share Units (RSUs) | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Weighted-average fair value of instruments other than options granted (in dollars per share) | 27.37 | $ 38.04 | $ 30.46 |
| Weighted-average fair value of restricted share units vested (in dollars per share) | $ 35.63 | $ 40.94 | $ 36.33 |
| Weighted-average assumptions used: | |||
| Aggregate intrinsic value of performance share units vested ($ in ‘000’s) | $ 69,891 | $ 62,821 | $ 15,755 |
| Restricted Share Units (RSUs) | Long Term Incentive Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Weighted-average fair value of instruments other than options granted (in dollars per share) | $ 28.43 | $ 35.07 | $ 38.82 |
| Weighted-average fair value of restricted share units vested (in dollars per share) | $ 49.92 | $ 43.40 | $ 36.83 |
| Weighted-average assumptions used: | |||
| Aggregate intrinsic value of performance share units vested ($ in ‘000’s) | $ 5,111 | $ 9,093 | $ 3,947 |
| Deferred Share Units (DSUs) | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Weighted-average fair value of instruments other than options granted (in dollars per share) | $ 31.03 | $ 38.43 | $ 29.72 |
| Weighted-average fair value of restricted share units vested (in dollars per share) | $ 34.21 | $ 36.81 | $ 32.44 |
| Weighted-average assumptions used: | |||
| Aggregate intrinsic value of performance share units vested ($ in ‘000’s) | $ 3,194 | $ 1,461 | $ 1,565 |
EQUITY AND SHARE-BASED COMPENSATION - Long-Term Incentive Plans (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Issuance of treasury stock (in shares) | 3,107,220 | 1,800,395 | 691,181 |
| Issuance of treasury stock | $ 1,498 | $ 0 | $ (1,067) |
| Long Term Incentive Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Term of plan (in years) | 3 years | ||
| Issuance of treasury stock (in shares) | 350,698 | ||
| Issuance of treasury stock | $ 14,800 | ||
EQUITY AND SHARE-BASED COMPENSATION - Schedule of Non Option Unit Activity (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| PSUs | |||
| Units | |||
| Granted (in shares) | 0 | 0 | |
| PSUs | Minimum | |||
| Weighted Average | |||
| Granted (in dollars per share) | $ 47.96 | $ 21.17 | $ 43.10 |
| PSUs | Maximum | |||
| Weighted Average | |||
| Granted (in dollars per share) | $ 59.48 | 55.06 | |
| PSUs | Long Term Incentive Plan | |||
| Units | |||
| Beginning balance (in shares) | 1,605,116 | ||
| Granted (in shares) | 982,503 | ||
| Vested (in shares) | (257,611) | ||
| Forfeited or expired (in shares) | (357,067) | ||
| Ending balance (in shares) | 1,972,941 | 1,605,116 | |
| Weighted Average | |||
| Beginning balance (in dollars per share) | $ 56.09 | ||
| Granted (in dollars per share) | 46.58 | ||
| Vested (in dollars per share) | 75.14 | ||
| Forfeited or expired (in dollars per share) | 51.43 | ||
| Ending balance (in dollars per share) | $ 49.87 | $ 56.09 | |
| Weighted- Average Remaining Contractual Term (years) | 1 year 6 months 7 days | 1 year 8 months 12 days | |
| Aggregate Intrinsic Value ($’000’s) | $ 51,956 | $ 48,218 | |
| PSUs | Long Term Incentive Plan | Minimum | |||
| Weighted Average | |||
| Performance target | 0.00% | ||
| PSUs | Long Term Incentive Plan | Maximum | |||
| Weighted Average | |||
| Performance target | 200.00% | ||
| Restricted Share Units (RSUs) | |||
| Units | |||
| Beginning balance (in shares) | 4,555,955 | ||
| Granted (in shares) | 923,127 | ||
| Vested (in shares) | (2,459,944) | ||
| Forfeited or expired (in shares) | (379,255) | ||
| Ending balance (in shares) | 2,639,883 | 4,555,955 | |
| Weighted Average | |||
| Beginning balance (in dollars per share) | $ 35.87 | ||
| Granted (in dollars per share) | 27.37 | $ 38.04 | 30.46 |
| Vested (in dollars per share) | 35.63 | ||
| Forfeited or expired (in dollars per share) | 36.06 | ||
| Ending balance (in dollars per share) | $ 33.11 | $ 35.87 | |
| Weighted- Average Remaining Contractual Term (years) | 2 years | 1 year 9 months 14 days | |
| Aggregate Intrinsic Value ($’000’s) | $ 77,084 | $ 136,861 | |
| Restricted Share Units (RSUs) | Long Term Incentive Plan | |||
| Units | |||
| Beginning balance (in shares) | 956,325 | ||
| Granted (in shares) | 699,220 | ||
| Vested (in shares) | (170,370) | ||
| Forfeited or expired (in shares) | (213,160) | ||
| Ending balance (in shares) | 1,272,015 | 956,325 | |
| Weighted Average | |||
| Beginning balance (in dollars per share) | $ 39.61 | ||
| Granted (in dollars per share) | 28.43 | $ 35.07 | 38.82 |
| Vested (in dollars per share) | 49.92 | ||
| Forfeited or expired (in dollars per share) | 33.70 | ||
| Ending balance (in dollars per share) | $ 33.11 | $ 39.61 | |
| Weighted- Average Remaining Contractual Term (years) | 1 year 8 months 12 days | 1 year 9 months 7 days | |
| Aggregate Intrinsic Value ($’000’s) | $ 37,143 | $ 28,728 | |
| Deferred Share Units (DSUs) | |||
| Units | |||
| Beginning balance (in shares) | 1,082,471 | ||
| Granted (in shares) | 118,330 | ||
| Settled (in shares) | 296,831 | ||
| Ending balance (in shares) | 903,970 | 1,082,471 | |
| Weighted Average | |||
| Beginning balance (in dollars per share) | $ 30.67 | ||
| Granted (in dollars per share) | 31.03 | $ 38.43 | $ 29.72 |
| Settled (in dollars per share) | 29.69 | ||
| Ending balance (in dollars per share) | $ 31.04 | $ 30.67 | |
| Weighted- Average Remaining Contractual Term (years) | 4 months 2 days | 5 months 1 day | |
| Aggregate Intrinsic Value ($’000’s) | $ 26,415 | $ 32,517 | |
| Unvested grants in period (in shares) | 62,177 | 47,871 | |
EQUITY AND SHARE-BASED COMPENSATION - RSUs, DSUs and ESPP (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Issuance of treasury stock (in shares) | 3,107,220 | 1,800,395 | 691,181 |
| Issuance of treasury stock | $ 1,498 | $ 0 | $ (1,067) |
| Long Term Incentive Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Award vesting period (in years) | 3 years | ||
| Issuance of treasury stock (in shares) | 350,698 | ||
| Issuance of treasury stock | $ 14,800 | ||
| PSUs | Long Term Incentive Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Award vesting period (in years) | 3 years | ||
| Restricted Stock Units (RSUs) | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Stock issued (in shares) | 2,459,944 | 1,576,565 | 400,210 |
| Stock issued | $ 87,600 | $ 70,700 | $ 17,600 |
| Restricted Stock Units (RSUs) | Minimum | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Award vesting period (in years) | 2 years | ||
| Restricted Stock Units (RSUs) | Maximum | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Award vesting period (in years) | 4 years | ||
| Restricted Stock Units (RSUs) | Long Term Incentive Plan | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Award vesting period (in years) | 3 years | ||
| Employee Stock ESPP | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Awards purchase price discount | 15.00% | ||
| Common shares eligible for issuance (in shares) | 1,291,351 | 1,176,466 | 1,089,120 |
| Cash received from employee stock purchase plan | $ 31,600 | $ 33,900 | $ 31,000 |
GUARANTEES AND CONTINGENCIES - Schedule of Contractual Obligations with Minimum Payments (Details) $ in Thousands |
Jun. 30, 2025
USD ($)
|
|---|---|
| Long term debt obligations | |
| Total | $ 7,866,885 |
| July 1, 2025 - June 30, 2026 | 370,421 |
| July 1, 2026 - June 30, 2028 | 2,600,069 |
| July 1, 2028 - June 30, 2030 | 4,206,176 |
| July 1, 2030 and beyond | 690,219 |
| Purchase obligations for contracts not accounted for as lease obligations | |
| Total | 322,565 |
| July 1, 2025 - June 30, 2026 | 226,310 |
| July 1, 2026 - June 30, 2028 | 96,255 |
| July 1, 2028 - June 30, 2030 | 0 |
| July 1, 2030 and beyond | 0 |
| Total payments due | |
| Total | 8,189,450 |
| July 1, 2025 - June 30, 2026 | 596,731 |
| July 1, 2026 - June 30, 2028 | 2,696,324 |
| July 1, 2028 - June 30, 2030 | 4,206,176 |
| July 1, 2030 and beyond | $ 690,219 |
GUARANTEES AND CONTINGENCIES - Additional Information (Details) - Canada Revenue Agency (CRA) $ in Millions |
12 Months Ended |
|---|---|
|
Jun. 30, 2025
USD ($)
| |
| Loss Contingencies [Line Items] | |
| Estimated amount of loss resulting from an adverse tax position | $ 86.0 |
| Income taxes paid | $ 32.0 |
| Tax Year 2012 | |
| Loss Contingencies [Line Items] | |
| Additional tax expense (as a percent) | 10.00% |
| Tax Year 2013 | |
| Loss Contingencies [Line Items] | |
| Additional tax expense (as a percent) | 10.00% |
| Tax Year 2014 | |
| Loss Contingencies [Line Items] | |
| Additional tax expense (as a percent) | 10.00% |
| Tax Year 2015 | |
| Loss Contingencies [Line Items] | |
| Additional tax expense (as a percent) | 10.00% |
| Tax Year 2016 | |
| Loss Contingencies [Line Items] | |
| Additional tax expense (as a percent) | 10.00% |
| Tax Years 2017, 2018 and 2019 | |
| Loss Contingencies [Line Items] | |
| Estimated amount of loss resulting from an adverse tax position | $ 470.0 |
| Minimum | Tax Year 2012 | |
| Loss Contingencies [Line Items] | |
| Income tax examination, estimate of increase to taxable income | 90.0 |
| Minimum | Tax Year 2013 | |
| Loss Contingencies [Line Items] | |
| Income tax examination, estimate of increase to taxable income | 90.0 |
| Minimum | Tax Year 2014 | |
| Loss Contingencies [Line Items] | |
| Income tax examination, estimate of increase to taxable income | 90.0 |
| Minimum | Tax Year 2015 | |
| Loss Contingencies [Line Items] | |
| Income tax examination, estimate of increase to taxable income | 90.0 |
| Minimum | Tax Year 2016 | |
| Loss Contingencies [Line Items] | |
| Income tax examination, estimate of increase to taxable income | 90.0 |
| Maximum | Tax Year 2012 | |
| Loss Contingencies [Line Items] | |
| Income tax examination, estimate of increase to taxable income | 100.0 |
| Maximum | Tax Year 2013 | |
| Loss Contingencies [Line Items] | |
| Income tax examination, estimate of increase to taxable income | 100.0 |
| Maximum | Tax Year 2014 | |
| Loss Contingencies [Line Items] | |
| Income tax examination, estimate of increase to taxable income | 100.0 |
| Maximum | Tax Year 2015 | |
| Loss Contingencies [Line Items] | |
| Income tax examination, estimate of increase to taxable income | 100.0 |
| Maximum | Tax Year 2016 | |
| Loss Contingencies [Line Items] | |
| Income tax examination, estimate of increase to taxable income | $ 100.0 |
INCOME TAXES - Additional Information (Details) - USD ($) $ in Thousands |
1 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
Mar. 31, 2025 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Income Tax Contingency [Line Items] | ||||
| Provision for income taxes (Note 15) | $ 46,005 | $ 264,012 | $ 70,767 | |
| Investment tax credit | 88,500 | |||
| Deferred Tax Assets, Valuation Allowance | 651,779 | 662,694 | ||
| Deferred tax assets (Note 15) | 1,080,575 | 932,657 | ||
| Decrease in deferred tax assets | 10,900 | |||
| Unrecognized tax benefits of deferred tax assets offset by valuation allowance | 56,000 | 63,000 | ||
| Net unrecognized tax benefit excluding portion offset by valuation allowance | 83,800 | 117,400 | ||
| Possible decrease in tax expense in next 12 months | 27,300 | |||
| Provision for deferred income tax liabilities | 20,000 | $ 15,900 | ||
| Pending Litigation | ||||
| Income Tax Contingency [Line Items] | ||||
| Refund amount | $ 43,800 | |||
| Litigation settlement interest | $ 4,000 | |||
| Foreign | ||||
| Income Tax Contingency [Line Items] | ||||
| Operating loss carryforwards | 2,900,000 | |||
| Operating loss carryforwards, no expiration | 425,500 | |||
| Deferred tax assets (Note 15) | 642,000 | |||
| Domestic | ||||
| Income Tax Contingency [Line Items] | ||||
| Operating loss carryforwards | 313,300 | |||
| Deferred tax assets (Note 15) | 9,800 | |||
| State and local jurisdiction | ||||
| Income Tax Contingency [Line Items] | ||||
| Operating loss carryforwards | 414,600 | |||
| Operating loss carryforwards, no expiration | $ 53,100 | |||
INCOME TAXES - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Income Tax Disclosure [Abstract] | |||
| Expected statutory rate | 26.50% | 26.50% | 26.50% |
| Expected provision for income taxes | $ 127,749 | $ 193,263 | $ 58,653 |
| Effect of foreign tax rate differences | (9,275) | (18,338) | (17,502) |
| Change in valuation allowance (1) | (4,040) | 71,328 | 16,218 |
| Effect of permanent differences | 24,908 | 11,864 | 17,281 |
| Effect of changes in unrecognized tax benefits (2) | (32,387) | (4,570) | 857 |
| Effect of withholding taxes | 7,479 | 18,680 | 12,464 |
| Effect of tax credits (3) | (55,656) | (84,244) | (45,596) |
| Effect of accrual for undistributed earnings | 4,072 | (12,421) | 5,804 |
| Effect of U.S. BEAT (3) | 0 | 17,927 | 6,854 |
| Difference in tax filing positions from provision (4) | (37,053) | (2,661) | (621) |
| Impact of internal reorganizations (5) | 5,037 | 59,761 | 8,822 |
| Other items | 15,171 | 13,423 | 7,533 |
| Provision for income taxes | $ 46,005 | $ 264,012 | $ 70,767 |
INCOME TAXES - Schedule of Income Before Provision for Income Tax (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Income Tax Disclosure [Abstract] | |||
| Domestic income (loss) | $ 248,942 | $ 359,865 | $ 300,437 |
| Foreign income (loss) | 233,129 | 369,431 | (79,104) |
| Income before income taxes | $ 482,071 | $ 729,296 | $ 221,333 |
INCOME TAXES - Schedule of Components of Income Tax (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Current income taxes (recoveries): | |||
| Domestic | $ 13,769 | $ 76,571 | $ 15,619 |
| Foreign | 170,852 | 329,712 | 204,708 |
| Total | 184,621 | 406,283 | 220,327 |
| Deferred income taxes (recoveries): | |||
| Domestic | 44,974 | 17,205 | 17,461 |
| Foreign | (183,590) | (159,476) | (167,021) |
| Total deferred income taxes (recoveries) | (138,616) | (142,271) | (149,560) |
| Provision for income taxes | $ 46,005 | $ 264,012 | $ 70,767 |
INCOME TAXES - Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Deferred tax assets | ||
| Non-capital loss carryforwards | $ 676,446 | $ 750,895 |
| Capital loss carryforwards | 5,833 | 13,221 |
| Interest expense carryforwards | 230,658 | 217,071 |
| Capitalized scientific research and development expenses | 451,163 | 416,126 |
| Restructuring costs and other reserves | 18,678 | 21,347 |
| Capitalized inventory and intangible expenses | 123,010 | 0 |
| Tax credits | 179,343 | 172,409 |
| Lease liabilities | 36,975 | 36,343 |
| Deferred revenue | 22,759 | 23,362 |
| Share-based compensation | 40,464 | 40,188 |
| Derivatives | 73,074 | 41,978 |
| Other | 62,799 | 88,901 |
| Total deferred tax asset | 1,921,202 | 1,821,841 |
| Valuation allowance | (651,779) | (662,694) |
| Deferred tax liabilities | ||
| Depreciation and amortization | (247,606) | (233,219) |
| Right of use assets | (22,754) | (21,173) |
| Other | (60,002) | (120,730) |
| Deferred tax liabilities | (330,362) | (375,122) |
| Net deferred tax asset | 939,061 | 784,025 |
| Comprised of: | ||
| Long-term assets | 1,080,575 | 932,657 |
| Long-term liabilities | $ (141,514) | $ (148,632) |
INCOME TAXES - Schedule of Changes in the Balance of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
| Unrecognized tax benefits as of beginning of the period | $ 180,365 | $ 178,728 |
| Increases on account of current year positions | 0 | 4,074 |
| Increases on account of prior year positions | 8,024 | 16,558 |
| Decreases on account of prior year positions | (2,612) | (3,338) |
| Decreases due to settlements with tax authorities | (9,569) | (11,497) |
| Decreases due to lapses of statutes of limitations | (36,417) | (4,160) |
| Unrecognized tax benefits as of end of the period | $ 139,791 | $ 180,365 |
INCOME TAXES - Schedule of Interest and Penalties Related to Liabilities for Income Tax Expense (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Income Tax Disclosure [Abstract] | |||
| Interest expense (income) | $ (5,290) | $ 7,778 | $ (1,922) |
| Penalties expense | (2,175) | 964 | (21) |
| Total | $ (7,465) | $ 8,742 | $ (1,943) |
INCOME TAXES - Schedule of Interest Accrued and Penalties Accrued Related to Income Tax Expense (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Income Tax Disclosure [Abstract] | ||
| Interest expense accrued | $ 14,686 | $ 19,976 |
| Penalties accrued | $ 2,121 | $ 4,295 |
FAIR VALUE MEASUREMENT - Schedule of Fair Value of the Company’s Financial Instruments (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Available-for-sale financial assets | $ 45,074 | $ 40,541 |
| Derivative asset (Note 17) | 2,984 | 2,127 |
| Liability | $ (275,810) | $ (159,234) |
| Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Non-current portion of long-term debt | Non-current portion of long-term debt |
| Recurring | Level 2 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Available-for-sale financial assets | $ 17,721 | $ 15,603 |
| Derivative asset (Note 17) | 2,984 | 2,127 |
| Liability | (275,810) | (159,234) |
| Recurring | Level 2 | Senior Notes | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Liability | (4,158,921) | (4,006,771) |
| Recurring | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Available-for-sale financial assets | 27,353 | $ 24,938 |
| Derivative asset (Note 17) | $ 27,400 |
FAIR VALUE MEASUREMENT - Schedule of Long-term Investments (Details) - Available-for-sale financial assets - Level 3 - Recurring - Derivatives not designated as hedges: $ in Thousands |
12 Months Ended |
|---|---|
|
Jun. 30, 2025
USD ($)
| |
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
| Beginning balance | $ 24,938 |
| Gain (loss) recognized in income | 2,415 |
| Ending balance | $ 27,353 |
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narratives (Details) € in Millions, £ in Millions, $ in Millions |
1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|---|
|
Aug. 31, 2022
GBP (£)
derivative
|
Mar. 31, 2023
EUR (€)
|
Jun. 30, 2025
USD ($)
|
Jan. 07, 2025
EUR (€)
|
Jan. 07, 2025
USD ($)
|
Jun. 30, 2024
USD ($)
|
Aug. 31, 2022
EUR (€)
derivative
|
|
| Minimum | |||||||
| Derivative [Line Items] | |||||||
| Contract maturity (in months) | 1 month | ||||||
| Maximum | |||||||
| Derivative [Line Items] | |||||||
| Contract maturity (in months) | 12 months | ||||||
| Currency Swap | |||||||
| Derivative [Line Items] | |||||||
| Number of foreign currency swaps (in derivatives) | derivative | 3 | 3 | |||||
| Deal-contingent forward contract | Micro Focus | Derivatives not designated as hedges: | |||||||
| Derivative [Line Items] | |||||||
| Notional amount of forward contracts held to sell U.S. dollars in exchange for Canadian dollars | £ | £ 1,475 | ||||||
| Non-contingent forward contract | |||||||
| Derivative [Line Items] | |||||||
| Notional amount of forward contracts held to sell U.S. dollars in exchange for Canadian dollars | $ | $ 93.5 | $ 95.7 | |||||
| Non-contingent forward contract | Micro Focus | Derivatives not designated as hedges: | |||||||
| Derivative [Line Items] | |||||||
| Notional amount of forward contracts held to sell U.S. dollars in exchange for Canadian dollars | £ | £ 350 | ||||||
| 5 Year EUR to USD Market Hedge | Micro Focus | Derivatives not designated as hedges: | |||||||
| Derivative [Line Items] | |||||||
| Notional amount of forward contracts held to sell U.S. dollars in exchange for Canadian dollars | € 138 | € 690 | |||||
| Contract maturity (in months) | 5 years | ||||||
| Payment for termination | $ | $ 10.4 | ||||||
| 7 Year EUR to USD Market Hedge | Micro Focus | Derivatives not designated as hedges: | |||||||
| Derivative [Line Items] | |||||||
| Notional amount of forward contracts held to sell U.S. dollars in exchange for Canadian dollars | € 690 | ||||||
| Contract maturity (in months) | 7 years | ||||||
| 7 Year EUR to USD Market Hedge | Micro Focus | Derivatives designated as hedges: | |||||||
| Derivative [Line Items] | |||||||
| Notional amount of forward contracts held to sell U.S. dollars in exchange for Canadian dollars | € 690 | ||||||
| Contract maturity (in months) | 7 years | 7 years | |||||
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Fair Values of Outstanding Derivative Instruments (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Derivatives, Fair Value [Line Items] | ||
| Asset | $ 2,984 | $ 2,127 |
| Liability | $ (275,810) | $ (159,234) |
| Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Prepaid expenses and other current assets (Note 9) | Prepaid expenses and other current assets (Note 9) |
| Derivatives designated as hedges: | ||
| Derivatives, Fair Value [Line Items] | ||
| Asset | $ 2,192 | $ 654 |
| Liability | (161,304) | (89,014) |
| Derivatives not designated as hedges: | ||
| Derivatives, Fair Value [Line Items] | ||
| Asset | 792 | 1,473 |
| Liability | (114,506) | (70,220) |
| Derivatives not designated as hedges: | Currency Swap | ||
| Derivatives, Fair Value [Line Items] | ||
| Asset | 792 | 1,473 |
| Liability | (114,506) | (70,220) |
| Cash flow hedge | Derivatives designated as hedges: | ||
| Derivatives, Fair Value [Line Items] | ||
| Asset | 2,068 | 0 |
| Liability | 0 | (828) |
| Net investment hedge | Derivatives designated as hedges: | ||
| Derivatives, Fair Value [Line Items] | ||
| Asset | 124 | 654 |
| Liability | $ (161,304) | $ (88,186) |
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Effects of Gains (losses) from Derivative Instruments (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Derivatives, Fair Value [Line Items] | |||
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration] | Other income (expense), net (Note 23) | Other income (expense), net (Note 23) | Other income (expense), net (Note 23) |
| Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Interest and other related expense, net | Interest and other related expense, net | Interest and other related expense, net |
| Derivative, gain (loss) on derivative, net | $ (51,967) | $ 8,952 | $ 7,690 |
| Operating expenses | Currency Swap | |||
| Derivatives, Fair Value [Line Items] | |||
| Gain (loss) or derivatives not designated as hedging instruments, net | 2,842 | 3,441 | 1,421 |
| Nonoperating Income (Expense) | Deal-contingent forward contract | |||
| Derivatives, Fair Value [Line Items] | |||
| Gain (loss) or derivatives not designated as hedging instruments, net | 0 | 0 | 9,354 |
| Nonoperating Income (Expense) | Non-contingent forward contract | |||
| Derivatives, Fair Value [Line Items] | |||
| Gain (loss) or derivatives not designated as hedging instruments, net | 0 | 0 | 9,052 |
| Nonoperating Income (Expense) | Currency Swap | |||
| Derivatives, Fair Value [Line Items] | |||
| Gain (loss) or derivatives not designated as hedging instruments, net | (54,666) | 3,116 | (9,779) |
| Cash flow hedge | Derivatives designated as hedges: | Operating expenses | |||
| Derivatives, Fair Value [Line Items] | |||
| Gain (loss) reclassified from AOCI into income (effective portion) - cash flow hedge | (3,443) | (1,312) | (3,702) |
| Net investment hedge | Derivatives designated as hedges: | Operating expenses | |||
| Derivatives, Fair Value [Line Items] | |||
| Gain (loss) reclassified from AOCI into income (effective portion) - cash flow hedge | $ 3,300 | $ 3,707 | $ 1,344 |
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Effects of the Cash Flow and Net Investment Hedges (Details) - Derivatives designated as hedges: - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Cash flow hedge | Operating expenses | |||
| Derivatives, Fair Value [Line Items] | |||
| Gain (loss) reclassified from AOCI into income (effective portion) - cash flow hedge | $ (3,443) | $ (1,312) | $ (3,702) |
| Cash flow hedge | Unrealized gain (loss) on cash flow hedge | |||
| Derivatives, Fair Value [Line Items] | |||
| Gain (loss) recognized in OCI (loss) on cash flow hedge (effective portion) | (548) | (3,670) | (1,280) |
| Cash flow hedge | Net foreign currency translation adjustment | |||
| Derivatives, Fair Value [Line Items] | |||
| Gain (loss) recognized in OCI (loss) on cash flow hedge (effective portion) | (73,060) | (331) | (32,347) |
| Net investment hedge | Operating expenses | |||
| Derivatives, Fair Value [Line Items] | |||
| Gain (loss) reclassified from AOCI into income (effective portion) - cash flow hedge | 3,300 | 3,707 | 1,344 |
| Net investment hedge | Interest and other related expense, net | |||
| Derivatives, Fair Value [Line Items] | |||
| Gain (loss) reclassified from AOCI into income (excluded from effectiveness testing) - net investment hedge | $ 2,244 | $ 2,244 | $ 748 |
SPECIAL CHARGES (RECOVERIES) - Schedule of Special Charges Related to Restructuring Plan (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Restructuring Cost and Reserve [Line Items] | |||
| Divestiture-related costs | $ 4,780 | $ 46,640 | $ 0 |
| Acquisition-related costs | 2,311 | 2,036 | 48,941 |
| Other charges (recoveries) | 10,116 | 12,615 | 42,818 |
| Total | 145,890 | 135,305 | 169,159 |
| Business Optimization Plan | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Special charges | 127,924 | 0 | 0 |
| Micro Focus Acquisition Restructuring Plan | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Special charges | 1,549 | 74,267 | 72,284 |
| Other historical restructuring plans | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Special charges | $ (790) | $ (253) | $ 5,116 |
SPECIAL CHARGES (RECOVERIES) - Additional Information (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Restructuring Cost and Reserve [Line Items] | |||
| Divestiture-related costs | $ 4,780,000 | $ 46,640,000 | $ 0 |
| Acquisition-related costs | 2,311,000 | 2,036,000 | 48,941,000 |
| Other charges (recoveries) | 10,116,000 | 12,615,000 | 42,818,000 |
| Micro Focus | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Acquisition-related costs | 0 | 1,100,000 | 48,300,000 |
| Business Optimization Plan | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Expected cost | 260,000,000.0 | ||
| Special charges recorded to date | 127,900,000 | ||
| Micro Focus Acquisition Restructuring Plan | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Special charges recorded to date | 148,100,000 | ||
| Compensation Related Charges | Micro Focus Acquisition Restructuring Plan | Micro Focus | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Other charges (recoveries) | 5,500,000 | ||
| Miscellaneous other charges | Micro Focus Acquisition Restructuring Plan | Micro Focus | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Other charges (recoveries) | $ 10,300,000 | 5,800,000 | 11,800,000 |
| Pre-acquisition equity incentives | Zix Corporation | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Other charges (recoveries) | $ 1,300,000 | 8,300,000 | |
| Employee Severance | Micro Focus Acquisition Restructuring Plan | Micro Focus | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Other charges (recoveries) | $ 23,000,000.0 | ||
SPECIAL CHARGES (RECOVERIES) - Schedule of Restructuring Reserve (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Jun. 30, 2025
USD ($)
| |
| Micro Focus Acquisition Restructuring Plan | |
| Restructuring Reserve [Roll Forward] | |
| Balance, beginning | $ 28,091 |
| Accruals and adjustments | 2,905 |
| Cash payments | (21,921) |
| Foreign exchange and other non-cash adjustments | (480) |
| Balance, end | 8,595 |
| Micro Focus Acquisition Restructuring Plan | Workforce reduction | |
| Restructuring Reserve [Roll Forward] | |
| Balance, beginning | 11,765 |
| Accruals and adjustments | (670) |
| Cash payments | (10,106) |
| Foreign exchange and other non-cash adjustments | 181 |
| Balance, end | 1,170 |
| Micro Focus Acquisition Restructuring Plan | Facility charges | |
| Restructuring Reserve [Roll Forward] | |
| Balance, beginning | 16,326 |
| Accruals and adjustments | 3,575 |
| Cash payments | (11,815) |
| Foreign exchange and other non-cash adjustments | (661) |
| Balance, end | 7,425 |
| Business Optimization Plan | |
| Restructuring Reserve [Roll Forward] | |
| Balance, beginning | 0 |
| Accruals and adjustments | 119,113 |
| Cash payments | (66,646) |
| Foreign exchange and other non-cash adjustments | (1,338) |
| Balance, end | 51,129 |
| Business Optimization Plan | Workforce reduction | |
| Restructuring Reserve [Roll Forward] | |
| Balance, beginning | 0 |
| Accruals and adjustments | 113,000 |
| Cash payments | (66,524) |
| Foreign exchange and other non-cash adjustments | 1,807 |
| Balance, end | 48,283 |
| Business Optimization Plan | Facility charges | |
| Restructuring Reserve [Roll Forward] | |
| Balance, beginning | 0 |
| Accruals and adjustments | 6,113 |
| Cash payments | (122) |
| Foreign exchange and other non-cash adjustments | (3,145) |
| Balance, end | $ 2,846 |
ACQUISITIONS AND DIVESTITURES - Narrative (Details) - USD ($) |
3 Months Ended | 12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
May 01, 2024 |
Jan. 31, 2023 |
Dec. 31, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
Dec. 01, 2022 |
Aug. 25, 2022 |
|
| Business Combination [Line Items] | ||||||||
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration] | Other income (expense), net (Note 23) | Other income (expense), net (Note 23) | Other income (expense), net (Note 23) | |||||
| Total principal payments due | $ 6,485,375,000 | $ 6,521,225,000 | ||||||
| Acquisition-related costs | 2,311,000 | 2,036,000 | $ 48,941,000 | |||||
| Goodwill | 7,517,463,000 | 7,488,367,000 | 8,662,603,000 | |||||
| Disposal by sale | AMC Business | ||||||||
| Business Combination [Line Items] | ||||||||
| Cash | $ 2,275,000,000 | |||||||
| Gain on sale | $ 4,200,000 | 429,100,000 | ||||||
| Payment amount | $ 11,700,000 | |||||||
| Transition services period | 24 months | |||||||
| Transition services reimbursable | 31,600,000 | |||||||
| Line of Credit | Revolving credit facility | ||||||||
| Business Combination [Line Items] | ||||||||
| Total principal payments due | $ 450,000,000 | 0 | 0 | |||||
| Senior Secured Notes 2027 | ||||||||
| Business Combination [Line Items] | ||||||||
| Debt instrument interest rate (as a percent) | 6.90% | |||||||
| Senior Secured Notes 2027 | Senior Notes | ||||||||
| Business Combination [Line Items] | ||||||||
| Debt instrument face amount | $ 1,000,000,000 | |||||||
| Total principal payments due | $ 1,000,000,000 | 1,000,000,000 | ||||||
| Acquisition Term Loan | Line of Credit | Secured Debt | ||||||||
| Business Combination [Line Items] | ||||||||
| Debt instrument face amount | 3,585,000,000 | $ 3,585,000,000 | ||||||
| Debt instrument interest rate (as a percent) | 6.08% | 1.75% | ||||||
| Total principal payments due | $ 2,185,375,000 | 2,221,225,000 | ||||||
| Micro Focus | ||||||||
| Business Combination [Line Items] | ||||||||
| Purchase consideration | 6,200,000,000 | |||||||
| Acquisition-related costs | $ 0 | 1,100,000 | $ 48,300,000 | |||||
| Goodwill | 3,385,572,000 | |||||||
| Acquired receivables, gross contractual amount | 418,200,000 | |||||||
| Acquired receivables, estimated uncollectible | 9,300,000 | |||||||
| Goodwill expected to be tax deductible | $ 67,300,000 | |||||||
| Purchase price allocation adjustments, pre-acquisition short term and deferred tax liabilities | $ 32,100,000 | |||||||
ACQUISITIONS AND DIVESTITURES - Schedule of Divestiture of AMC Business (Details) - Disposal by sale - AMC Divestiture $ in Thousands |
Apr. 30, 2024
USD ($)
|
|---|---|
| AMC Assets | |
| Accounts receivable trade, net of allowance for credit losses | $ 58,733 |
| Contract assets | 10,355 |
| Prepaid expenses and other current assets | 6,099 |
| Property and equipment | 1,091 |
| Goodwill | 1,138,013 |
| Acquired intangible assets | 930,771 |
| Deferred tax assets | 2,820 |
| Other assets | 1,775 |
| Total AMC Assets | 2,149,657 |
| AMC Liabilities | |
| Accounts payable and accrued liabilities | 11,312 |
| Deferred revenues | 188,648 |
| Long-term accrued liabilities | 8,128 |
| Pension liability, net | 1,640 |
| Long-term operating lease liabilities | 672 |
| Long-term deferred revenues | 23,623 |
| Long-term income taxes payable | 9,845 |
| Deferred tax liabilities | 116,086 |
| Total AMC Liabilities | $ 359,954 |
ACQUISITIONS AND DIVESTITURES - Acquisition Preliminary Purchase Price Allocation (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
Jan. 31, 2023 |
|---|---|---|---|---|
| Business Combination [Line Items] | ||||
| Goodwill | $ 7,517,463 | $ 7,488,367 | $ 8,662,603 | |
| Micro Focus | ||||
| Business Combination [Line Items] | ||||
| Cash and cash equivalents | $ 541,584 | |||
| Accounts receivable, net of allowance for credit losses | 408,921 | |||
| Other current assets | 288,842 | |||
| Non-current tangible assets | 441,129 | |||
| Goodwill | 3,385,572 | |||
| Accounts payable and accrued liabilities | (473,635) | |||
| Deferred revenues | (1,107,627) | |||
| Other liabilities | (793,049) | |||
| Net assets acquired | 6,246,437 | |||
| Micro Focus | Customer assets | ||||
| Business Combination [Line Items] | ||||
| Intangible customer and technology assets | 2,162,400 | |||
| Micro Focus | Technology assets | ||||
| Business Combination [Line Items] | ||||
| Intangible customer and technology assets | $ 1,392,300 |
ACQUISITIONS AND DIVESTITURES - Schedule of Unaudited Pro Forma Information (Details) |
5 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|
|
Jun. 30, 2023
USD ($)
|
Jun. 30, 2025
USD ($)
|
Jun. 30, 2024
USD ($)
|
Jun. 30, 2023
USD ($)
|
Jun. 30, 2023
£ / shares
|
|
| Business Combination [Line Items] | |||||
| One-time fees | $ 145,890,000 | $ 135,305,000 | $ 169,159,000 | ||
| Amortization of intangible assets | 321,891,000 | 432,404,000 | 326,406,000 | ||
| Goodwill impairment | $ 0 | $ 0 | $ 0 | ||
| Goodwill Impairment Loss Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag | goodwill impairment | ||||
| Micro Focus | |||||
| Business Combination [Line Items] | |||||
| Revenues | $ 976,537,000 | ||||
| Net loss | (94,741,000) | ||||
| One-time fees | 82,900,000 | ||||
| Amortization of intangible assets | $ 202,400,000 | ||||
| Revenues | $ 5,933,106,000 | ||||
| Net income (loss) | (500,105,000) | ||||
| Net income (loss) attributable to OpenText | (500,292,000) | ||||
| Goodwill impairment | $ 448,200,000 | ||||
| Share price (pence per share) | £ / shares | £ 5.32 | ||||
SEGMENT INFORMATION - Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Revenues (Note 3): | |||
| Total revenues | $ 5,168,405 | $ 5,769,577 | $ 4,484,980 |
| Operating expenses: | |||
| Net (income) attributable to non-controlling interests | (198) | (194) | (187) |
| Net income attributable to OpenText | 435,868 | 465,090 | 150,379 |
| Reportable Segment | |||
| Revenues (Note 3): | |||
| Total revenues | 5,168,405 | 5,769,577 | 4,484,980 |
| Cost of revenues: | |||
| Non-GAAP cost of revenues | 1,228,076 | 1,311,114 | 1,072,114 |
| Non-GAAP gross profit | 3,940,329 | 4,458,463 | 3,412,866 |
| Operating expenses: | |||
| Non-GAAP research and development | 729,937 | 823,851 | 620,149 |
| Non-GAAP sales and marketing | 1,020,671 | 1,116,562 | 928,261 |
| Non-GAAP general and administrative | 405,058 | 547,656 | 391,352 |
| Net (income) attributable to non-controlling interests | (198) | (194) | (187) |
| Adjusted EBITDA | 1,784,465 | 1,970,200 | 1,472,917 |
| Reconciling items | 1,348,597 | 1,505,110 | 1,322,538 |
| Net income attributable to OpenText | $ 435,868 | $ 465,090 | $ 150,379 |
SEGMENT INFORMATION - Reconciling Items (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Provision for (recovery of) income taxes | $ 46,005 | $ 264,012 | $ 70,767 |
| Interest and other related expense, net | 327,831 | 516,180 | 329,428 |
| Amortization of acquired technology-based intangible assets | 188,780 | 243,922 | 223,184 |
| Amortization of acquired customer-based intangible assets | 321,891 | 432,404 | 326,406 |
| Depreciation | 130,573 | 131,599 | 107,761 |
| Share-based compensation expense | 104,840 | 140,079 | 130,302 |
| Special charges (recoveries) | 145,890 | 135,305 | 169,159 |
| Other (income) expense, net | 82,787 | (358,391) | (34,469) |
| Reportable Segment | |||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Reconciling items | $ 1,348,597 | $ 1,505,110 | $ 1,322,538 |
SEGMENT INFORMATION - Revenue From External Customers Attributed To Foreign Countries By Geographic Area (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Total revenues | $ 5,168,405 | $ 5,769,577 | $ 4,484,980 |
| United States | |||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Total revenues | 2,646,797 | 3,030,457 | 2,523,737 |
| Canada | |||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Total revenues | 221,627 | 238,737 | 186,014 |
| All other countries | |||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Total revenues | 70,285 | 72,687 | 75,252 |
| Total Americas | |||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Total revenues | 2,938,709 | 3,341,881 | 2,785,003 |
| Rest of EMEA | |||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Total revenues | 1,751,543 | 1,878,470 | 1,310,016 |
| Asia Pacific | |||
| Revenues from External Customers and Long-Lived Assets [Line Items] | |||
| Total revenues | $ 478,153 | $ 549,226 | $ 389,961 |
SEGMENT INFORMATION - Entity-Wide Disclosure On Geographic Areas, Long-Lived Assets In Individual Foreign Countries By Country (Details) - USD ($) $ in Thousands |
Jun. 30, 2025 |
Jun. 30, 2024 |
|---|---|---|
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total | $ 2,549,820 | $ 3,073,778 |
| United States | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total | 1,339,700 | 1,632,652 |
| United Kingdom | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total | 860,387 | 1,053,220 |
| Canada | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total | 154,240 | 200,695 |
| All other countries | ||
| Revenues from External Customers and Long-Lived Assets [Line Items] | ||
| Total | $ 195,493 | $ 187,211 |
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning balance | $ 4,199,681 | $ 4,022,104 | $ 4,032,260 |
| Other comprehensive income (loss) before reclassifications, net of tax | (944) | (17,475) | (48,946) |
| Amounts reclassified into net income, net of tax | 3,496 | 1,415 | 3,046 |
| Total other comprehensive income (loss), net | 2,552 | (16,060) | (45,900) |
| Ending balance | 3,930,588 | 4,199,681 | 4,022,104 |
| Cash flow hedge | Derivatives designated as hedges: | Net foreign currency translation adjustment | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Gain (loss) recognized in OCI (loss) on cash flow hedge (effective portion) | (73,060) | (331) | (32,347) |
| Accumulated Other Comprehensive Income (Loss) | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning balance | (69,619) | (53,559) | (7,659) |
| Ending balance | (67,067) | (69,619) | (53,559) |
| Foreign Currency Translation Adjustments (1) | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning balance | (59,760) | (44,114) | (3,316) |
| Other comprehensive income (loss) before reclassifications, net of tax | (3,548) | (15,646) | (40,798) |
| Amounts reclassified into net income, net of tax | 0 | 0 | 0 |
| Total other comprehensive income (loss), net | (3,548) | (15,646) | (40,798) |
| Ending balance | (63,308) | (59,760) | (44,114) |
| Cash Flow Hedges | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning balance | (608) | 1,124 | (656) |
| Other comprehensive income (loss) before reclassifications, net of tax | (403) | (2,697) | (941) |
| Amounts reclassified into net income, net of tax | 2,531 | 965 | 2,721 |
| Total other comprehensive income (loss), net | 2,128 | (1,732) | 1,780 |
| Ending balance | 1,520 | (608) | 1,124 |
| Available-for-Sale Financial Assets | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning balance | (374) | (602) | 0 |
| Other comprehensive income (loss) before reclassifications, net of tax | 1,131 | 228 | (602) |
| Amounts reclassified into net income, net of tax | 0 | 0 | 0 |
| Total other comprehensive income (loss), net | 1,131 | 228 | (602) |
| Ending balance | 757 | (374) | (602) |
| Defined Benefit Pension Plans | |||
| AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] | |||
| Beginning balance | (8,877) | (9,967) | (3,687) |
| Other comprehensive income (loss) before reclassifications, net of tax | 1,876 | 640 | (6,605) |
| Amounts reclassified into net income, net of tax | 965 | 450 | 325 |
| Total other comprehensive income (loss), net | 2,841 | 1,090 | (6,280) |
| Ending balance | $ (6,036) | $ (8,877) | $ (9,967) |
SUPPLEMENTAL CASH FLOW DISCLOSURES (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Supplemental Cash Flow Information [Abstract] | |||
| Cash paid during the period for interest | $ 352,383 | $ 533,866 | $ 360,232 |
| Cash received during the period for interest | 48,324 | 45,465 | 53,486 |
| Cash paid during the period for income taxes | $ 411,570 | $ 294,769 | $ 202,486 |
OTHER INCOME (EXPENSE), NET - Schedule of Other Income (Expense) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Other Income and Expenses [Abstract] | |||
| Foreign exchange gains (losses) | $ (24,888) | $ 1,202 | $ 56,599 |
| Unrealized gains (losses) on derivatives not designated as hedges | (44,286) | 3,116 | (128,841) |
| Realized gains on derivatives not designated as hedges | (10,380) | 0 | 137,471 |
| OpenText share in net income (loss) of equity investees | 230 | (18,194) | (23,077) |
| Loss on debt extinguishment | 0 | (56,393) | (8,152) |
| Gain on AMC Divestiture | (4,175) | 429,102 | 0 |
| Other miscellaneous income (expense) | 712 | (442) | 469 |
| Total other income (expense), net | $ (82,787) | $ 358,391 | $ 34,469 |
OTHER INCOME (EXPENSE), NET - Additional information (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Debt Instrument [Line Items] | |||
| Foreign exchange gains (losses) | $ (24,888) | $ 1,202 | $ 56,599 |
| Loss on extinguishment of debt | $ 0 | $ (56,393) | (8,152) |
| Limited Partner Investments | Minimum | |||
| Debt Instrument [Line Items] | |||
| Ownership by noncontrolling owners (as a percent) | 4.00% | ||
| Limited Partner Investments | Maximum | |||
| Debt Instrument [Line Items] | |||
| Ownership by noncontrolling owners (as a percent) | 20.00% | ||
| Micro Acquisition | |||
| Debt Instrument [Line Items] | |||
| Foreign exchange gains (losses) | $ 36,600 | ||
EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| Basic earnings per share | |||
| Net income attributable to OpenText | $ 435,868 | $ 465,090 | $ 150,379 |
| Basic earnings per share attributable to OpenText (in dollars per share) | $ 1.66 | $ 1.71 | $ 0.56 |
| Diluted earnings per share | |||
| Net income attributable to OpenText | $ 435,868 | $ 465,090 | $ 150,379 |
| Diluted earnings per share attributable to OpenText (in dollars per share) | $ 1.65 | $ 1.71 | $ 0.56 |
| Weighted-average number of shares outstanding (in ‘000’s) | |||
| Basic (in shares) | 263,274 | 271,548 | 270,299 |
| Effect of dilutive securities (in shares) | 376 | 1,040 | 152 |
| Diluted (in shares) | 263,650 | 272,588 | 270,451 |
| Excluded as anti-dilutive (in shares) | 12,642 | 8,401 | 8,909 |
SUBSEQUENT EVENTS (Details) $ / shares in Units, $ in Millions |
6 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|
|
Aug. 06, 2025
USD ($)
$ / shares
|
Jul. 31, 2025
shares
|
Jun. 30, 2025
$ / shares
|
Jun. 30, 2024
$ / shares
|
Jun. 30, 2023
$ / shares
|
|
| Subsequent Event [Line Items] | |||||
| Dividends declared per common share (in dollars per share) | $ / shares | $ 1.0500 | $ 1.00 | $ 0.972 | ||
| Subsequent event | |||||
| Subsequent Event [Line Items] | |||||
| Dividends declared per common share (in dollars per share) | $ / shares | $ 0.2750 | ||||
| Stock repurchase plan, authorized number of shares (in shares) | 24,906,456 | ||||
| Percentage of public float | 0.10 | ||||
| Number of shares available for purchase (in shares) | 224,146 | ||||
| Percentage of daily trading volume | 0.25 | ||||
| Average trading volume (in shares) | 896,585 | ||||
| Subsequent event | Twenty Twenty Six Share Repurchase Plan | |||||
| Subsequent Event [Line Items] | |||||
| Stock repurchase plan, period in force (in months) | 12 months | ||||
| Stock repurchase plan, authorized amount | $ | $ 300 | ||||