OPEN TEXT CORP, 10-Q filed on 2/6/2025
Quarterly Report
v3.25.0.1
COVER PAGE - shares
 6 Months Ended
Dec. 31, 2024
Jan. 31, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Dec. 31, 2024  
Document Transition Report false  
Entity File Number 0-27544  
Entity Registrant Name OPEN TEXT CORP  
Entity Incorporation, State or Country Code Z4  
Entity Tax Identification Number 98-0154400  
Entity Address, Address Line One 275 Frank Tompa Drive,  
Entity Address, City or Town Waterloo,  
Entity Address, State or Province ON  
Entity Address, Country CA  
Entity Address, Postal Zip Code N2L 0A1  
City Area Code 519  
Local Phone Number 888-7111  
Title of 12(b) Security Common stock without par value  
Trading Symbol OTEX  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   263,999,998
Entity Central Index Key 0001002638  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q2  
Amendment Flag false  
Current Fiscal Year End Date --06-30  
v3.25.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Jun. 30, 2024
ASSETS    
Cash and cash equivalents $ 1,122,192 $ 1,280,662
Accounts receivable trade, net of allowance for credit losses of $14,641 as of December 31, 2024 and $12,108 as of June 30, 2024 639,611 626,189
Contract assets (Note 3) 68,487 66,450
Income taxes recoverable (Note 13) 68,004 61,113
Prepaid expenses and other current assets (Note 7) 186,763 242,911
Total current assets 2,085,057 2,277,325
Property and equipment, net of accumulated depreciation of $779,868 as of December 31, 2024 and $751,174 as of June 30, 2024 355,877 367,740
Operating lease right of use assets (Note 4) 211,079 219,774
Long-term contract assets (Note 3) 39,208 38,684
Goodwill (Note 5) 7,483,404 7,488,367
Acquired intangible assets (Note 6) 2,229,087 2,486,264
Deferred tax assets (Note 13) 982,567 932,657
Other assets (Note 7) 296,382 298,281
Long-term income taxes recoverable (Note 13) 49,052 96,615
Total assets 13,731,713 14,205,707
Current liabilities:    
Accounts payable and accrued liabilities (Note 8) 772,641 931,116
Current portion of long-term debt (Note 9) 35,850 35,850
Operating lease liabilities (Note 4) 74,699 76,446
Deferred revenues (Note 3) 1,452,734 1,521,416
Income taxes payable (Note 13) 65,145 235,666
Total current liabilities 2,401,069 2,800,494
Long-term liabilities:    
Accrued liabilities (Note 8) 38,974 46,483
Pension liability, net (Note 10) 126,909 127,255
Long-term debt (Note 9) 6,348,814 6,356,943
Long-term operating lease liabilities (Note 4) 200,815 218,174
Long-term deferred revenues (Note 3) 159,987 162,401
Long-term income taxes payable (Note 13) 82,310 145,644
Deferred tax liabilities (Note 13) 141,328 148,632
Total long-term liabilities 7,099,137 7,205,532
Shareholders’ equity:    
Common shares 2,275,583 2,271,886
Accumulated other comprehensive income (loss) (Note 18) (75,779) (69,619)
Retained earnings 2,174,514 2,119,159
Treasury stock, at cost (4,225,850 and 3,135,980 shares at December 31, 2024 and June 30, 2024, respectively) (144,432) (123,268)
Total OpenText shareholders' equity 4,229,886 4,198,158
Non-controlling interests 1,621 1,523
Total shareholders’ equity 4,231,507 4,199,681
Total liabilities and shareholders’ equity $ 13,731,713 $ 14,205,707
v3.25.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2024
Jun. 30, 2024
Statement of Financial Position [Abstract]    
Accounts receivable trade, allowance for credit losses $ 14,641 $ 12,108
Accumulated depreciation $ 779,868 $ 751,174
Common stock, shares issued (in shares) 263,727,502 267,800,517
Common stock, shares outstanding (in shares) 263,727,502 267,800,517
Treasury stock (in shares) 4,225,850 3,135,980
v3.25.0.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Revenues (Note 3):        
Total revenues $ 1,334,500 $ 1,534,868 $ 2,603,505 $ 2,960,297
Cost of revenues:        
Amortization of acquired technology-based intangible assets (Note 6) 47,203 70,784 94,447 147,608
Total cost of revenues 356,524 405,748 715,171 812,759
Gross profit 977,976 1,129,120 1,888,334 2,147,538
Operating expenses:        
Research and development 180,727 212,855 371,420 439,086
Sales and marketing 273,929 287,628 519,811 567,635
General and administrative 99,356 173,264 206,086 304,475
Depreciation 31,879 33,415 64,050 67,506
Amortization of acquired customer-based intangible assets (Note 6) 81,048 113,925 162,552 234,117
Special charges (recoveries) (Note 16) 15,238 54,166 62,374 67,960
Total operating expenses 682,177 875,253 1,386,293 1,680,779
Income from operations 295,799 253,867 502,041 466,759
Other income (expense), net (Note 20) 68,615 (68,784) 32,960 (48,614)
Interest and other related expense, net (83,615) (139,292) (167,897) (281,056)
Income before income taxes 280,799 45,791 367,104 137,089
Provision for income taxes 50,893 8,054 52,776 18,406
Net income 229,906 37,737 314,328 118,683
Net (income) attributable to non-controlling interests (44) (62) (98) (107)
Net income attributable to OpenText $ 229,862 $ 37,675 $ 314,230 $ 118,576
Earnings per share—basic attributable to OpenText (Note 21) (in dollars per share) $ 0.87 $ 0.14 $ 1.18 $ 0.44
Earnings per share—diluted attributable to OpenText (Note 21) (in dollars per share) $ 0.87 $ 0.14 $ 1.18 $ 0.44
Weighted average number of Common Shares outstanding—basic (in shares) 265,099 271,568 266,252 271,373
Weighted average number of Common Shares outstanding—diluted (in shares) 265,193 272,141 266,505 272,019
Cloud services and subscriptions        
Revenues (Note 3):        
Total revenues $ 462,306 $ 450,091 $ 919,330 $ 901,105
Cost of revenues:        
Cost of revenues: 172,288 180,148 347,545 351,560
Customer support        
Revenues (Note 3):        
Total revenues 590,595 695,762 1,186,085 1,393,475
Cost of revenues:        
Cost of revenues: 62,656 73,374 125,230 148,388
License        
Revenues (Note 3):        
Total revenues 188,923 289,238 314,736 462,264
Cost of revenues:        
Cost of revenues: 6,336 5,983 12,993 9,822
Professional service and other        
Revenues (Note 3):        
Total revenues 92,676 99,777 183,354 203,453
Cost of revenues:        
Cost of revenues: $ 68,041 $ 75,459 $ 134,956 $ 155,381
v3.25.0.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]        
Net income $ 229,906 $ 37,737 $ 314,328 $ 118,683
Other comprehensive income (loss)—net of tax:        
Net foreign currency translation adjustments 1,167 (15,796) (4,023) (30,379)
Unrealized gain (loss) on cash flow hedges:        
Unrealized gain (loss) - net of tax [1] (4,188) 1,522 (3,534) (319)
(Gain) loss reclassified into net income - net of tax [2] 1,010 328 1,272 337
Unrealized gain (loss) on available-for-sale financial assets:        
Unrealized gain (loss) - net of tax [3] 436 450 684 229
Actuarial gain (loss) relating to defined benefit pension plans:        
Actuarial gain (loss) - net of tax [4] 0 (91) (1,045) (110)
Amortization of actuarial (gain) loss into net income - net of tax [5] 252 113 486 302
Total other comprehensive income (loss), net for the period (1,323) (13,474) (6,160) (29,940)
Total comprehensive income 228,583 24,263 308,168 88,743
Comprehensive income attributable to non-controlling interests (44) (62) (98) (107)
Total comprehensive income attributable to OpenText $ 228,539 $ 24,201 $ 308,070 $ 88,636
[1] Net of tax expense (recovery) of $(1,510) and $549 for the three months ended December 31, 2024 and 2023, respectively; $(1,274) and $(115) for the six months ended December 31, 2024 and 2023, respectively.
[2] Net of tax expense (recovery) of $364 and $118 for the three months ended December 31, 2024 and 2023, respectively; $458 and $121 for the six months ended December 31, 2024 and 2023, respectively.
[3] Net of tax expense (recovery) of $18 and $119 for the three months ended December 31, 2024 and 2023, respectively; $225 and $60 for the six months ended December 31, 2024 and 2023, respectively.
[4] Net of tax expense (recovery) of $— and $91 for the three months ended December 31, 2024 and 2023, respectively; $(43) and $110 for the six months ended December 31, 2024 and 2023, respectively.
[5] Net of tax expense (recovery) of $92 and $50 for the three months ended December 31, 2024 and 2023, respectively; $184 and $125 for the six months ended December 31, 2024 and 2023, respectively.
v3.25.0.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]        
Unrealized gain (loss) - net of tax expense (recovery) $ (1,510) $ 549 $ (1,274) $ (115)
(Gain) loss reclassified into net income - net of tax expense (recovery) 364 118 458 121
Unrealized gain (loss) - net of tax expense (recovery) 18 119 225 60
Actuarial gain (loss) - net of tax expense (recovery) 0 91 (43) 110
Amortization of actuarial (gain) loss into net income - net of tax expense (recovery) $ 92 $ 50 $ 184 $ 125
v3.25.0.1
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Common Shares and Additional Paid in Capital
Treasury Stock
Retained Earnings
Accumulated  Other Comprehensive Income
Non-Controlling Interests
Beginning balance (in shares) at Jun. 30, 2023   270,903,000        
Beginning balance at Jun. 30, 2023 $ 4,022,104 $ 2,176,947 $ (151,597) $ 2,048,984 $ (53,559) $ 1,329
Beginning balance (in shares) at Jun. 30, 2023     (3,536,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Under employee stock option plans (in shares)   425,000        
Under employee stock option plans 14,003 $ 14,003        
Under employee stock purchase plans (in shares)   527,000        
Under employee stock purchase plans 17,011 $ 17,011        
Share-based compensation $ 76,997 76,997        
Purchase of treasury stock (in shares) (1,400,000)   (1,400,000)      
Purchase of treasury stock $ (53,085)   $ (53,085)      
Issuance of treasury stock $ 0 $ (23,102) $ 25,593 (2,491)    
Issuance of treasury stock (in shares) 536,560   536,000      
Dividend declared $ (135,426)     (135,426)    
Other comprehensive income (loss) - net (29,940)       (29,940)  
Net income for the period 118,683     118,576   107
Ending balance (in shares) at Dec. 31, 2023   271,855,000        
Ending balance at Dec. 31, 2023 4,030,347 $ 2,261,856 $ (179,089) 2,029,643 (83,499) 1,436
Ending balance (in shares) at Dec. 31, 2023     (4,400,000)      
Beginning balance (in shares) at Sep. 30, 2023   271,228,000        
Beginning balance at Sep. 30, 2023 4,014,258 $ 2,216,921 $ (196,119) 2,062,107 (70,025) 1,374
Beginning balance (in shares) at Sep. 30, 2023     (4,753,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Under employee stock option plans (in shares)   340,000        
Under employee stock option plans 11,111 $ 11,111        
Under employee stock purchase plans (in shares)   287,000        
Under employee stock purchase plans 8,370 $ 8,370        
Share-based compensation $ 39,993 39,993        
Purchase of treasury stock (in shares) 0          
Issuance of treasury stock $ 0 $ (14,539) $ 17,030 (2,491)    
Issuance of treasury stock (in shares) 353,247   353,000      
Dividend declared $ (67,648)     (67,648)    
Other comprehensive income (loss) - net (13,474)       (13,474)  
Net income for the period 37,737     37,675   62
Ending balance (in shares) at Dec. 31, 2023   271,855,000        
Ending balance at Dec. 31, 2023 4,030,347 $ 2,261,856 $ (179,089) 2,029,643 (83,499) 1,436
Ending balance (in shares) at Dec. 31, 2023     (4,400,000)      
Beginning balance (in shares) at Jun. 30, 2024   267,801,000        
Beginning balance at Jun. 30, 2024 $ 4,199,681 $ 2,271,886 $ (123,268) 2,119,159 (69,619) 1,523
Beginning balance (in shares) at Jun. 30, 2024 (3,135,980)   (3,136,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Under employee stock option plans (in shares) 70,125 70,000        
Under employee stock option plans $ 1,880 $ 1,880        
Under employee stock purchase plans (in shares)   719,000        
Under employee stock purchase plans 19,171 $ 19,171        
Share-based compensation $ 59,801 59,801        
Purchase of treasury stock (in shares) (2,187,135)   (2,187,000)      
Purchase of treasury stock $ (65,023)   $ (65,023)      
Issuance of treasury stock $ 1,321 $ (41,836) $ 43,859 (702)    
Issuance of treasury stock (in shares) 1,097,265   1,097,000      
Repurchase of common shares (in shares)   (4,862,000)        
Repurchase of Common Shares $ (153,575) $ (35,319)   (118,256)    
Dividend declared (139,917)     (139,917)    
Other comprehensive income (loss) - net (6,160)       (6,160)  
Net income for the period 314,328     314,230   98
Ending balance (in shares) at Dec. 31, 2024   263,728,000        
Ending balance at Dec. 31, 2024 $ 4,231,507 $ 2,275,583 $ (144,432) 2,174,514 (75,779) 1,621
Ending balance (in shares) at Dec. 31, 2024 (4,225,850)   (4,226,000)      
Beginning balance (in shares) at Sep. 30, 2024   265,546,000        
Beginning balance at Sep. 30, 2024 $ 4,136,887 $ 2,290,191 $ (145,646) 2,065,221 (74,456) 1,577
Beginning balance (in shares) at Sep. 30, 2024     (3,900,000)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Under employee stock option plans (in shares)   65,000        
Under employee stock option plans 1,739 $ 1,739        
Under employee stock purchase plans (in shares)   330,000        
Under employee stock purchase plans 9,308 $ 9,308        
Share-based compensation $ 30,355 30,355        
Purchase of treasury stock (in shares) (1,362,721)   (1,363,000)      
Purchase of treasury stock $ (40,013)   $ (40,013)      
Issuance of treasury stock $ 1,321 $ (39,906) $ 41,227      
Issuance of treasury stock (in shares) 1,036,378   1,037,000      
Repurchase of common shares (in shares)   (2,213,000)        
Repurchase of Common Shares $ (67,094) $ (16,104)   (50,990)    
Dividend declared (69,579)     (69,579)    
Other comprehensive income (loss) - net (1,323)       (1,323)  
Net income for the period 229,906     229,862   44
Ending balance (in shares) at Dec. 31, 2024   263,728,000        
Ending balance at Dec. 31, 2024 $ 4,231,507 $ 2,275,583 $ (144,432) $ 2,174,514 $ (75,779) $ 1,621
Ending balance (in shares) at Dec. 31, 2024 (4,225,850)   (4,226,000)      
v3.25.0.1
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]        
Dividends declared per common share (in dollars per share) $ 0.2625 $ 0.25 $ 0.525 $ 0.50
v3.25.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Jun. 30, 2024
Cash flows from operating activities:          
Net income $ 229,906 $ 37,737 $ 314,328 $ 118,683  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization of intangible assets     321,049 449,231  
Share-based compensation expense     59,919 77,270  
Pension expense     6,813 6,383  
Amortization of debt discount and issuance costs     10,795 12,821  
Write-off of right of use assets     1,385 10,963  
Adjustment to gain on AMC Divestiture 4,175 0 4,175 0  
Loss on sale and write down of property and equipment, net     439 1,877  
Deferred taxes     (52,977) (177,030)  
Share in net (income) loss of equity investees (1,538) 8,482 (1,993) 18,178  
Changes in financial instruments (45,549) 38,117 (20,614) 20,222  
Changes in operating assets and liabilities:          
Accounts receivable     41,879 (60,285)  
Contract assets     (59,946) (46,627)  
Prepaid expenses and other current assets     54,578 3,989  
Income taxes     (196,727) 58,733  
Accounts payable and accrued liabilities     (128,110) (48,156)  
Deferred revenue     (71,407) (42,502)  
Other assets     (1,436) 5,218  
Operating lease assets and liabilities, net     (11,964) (11,194)  
Net cash provided by operating activities     270,186 397,774  
Cash flows from investing activities:          
Additions of property and equipment     (80,585) (82,779)  
Purchase of Micro Focus, net of cash acquired     0 (9,272)  
Adjustment to proceeds from AMC Divestiture     (11,686) 0  
Proceeds from net investment hedge derivative contracts     2,519 1,966  
Other investing activities     5,892 (6,783)  
Net cash used in investing activities     (83,860) (96,868)  
Cash flows from financing activities:          
Proceeds from issuance of Common Shares from exercise of stock options and ESPP     17,740 29,257  
Repayment of long-term debt and Revolver     (17,926) (372,926)  
Net change in transition services agreement obligation     21,938 0  
Debt issuance costs     (1,066) (2,792)  
Repurchase of Common Shares     (153,406) 0  
Purchase of treasury stock (40,000) 0 (65,023) (53,085)  
Payments of dividends to shareholders (68,300) (66,400) (137,374) (133,379)  
Net cash used in financing activities     (335,117) (532,925)  
Foreign exchange gain (loss) on cash held in foreign currencies     (9,794) 3,539  
Decrease in cash, cash equivalents and restricted cash during the period     (158,585) (228,480)  
Cash, cash equivalents and restricted cash at beginning of the period     1,282,793 1,233,952 $ 1,233,952
Cash, cash equivalents and restricted cash at end of the period 1,124,208 1,005,472 1,124,208 1,005,472 1,282,793
Reconciliation of cash, cash equivalents and restricted cash:          
Cash and cash equivalents 1,122,192 1,003,134 1,122,192 1,003,134 1,280,662
Restricted cash [1] 2,016 2,338 2,016 2,338  
Total cash, cash equivalents and restricted cash $ 1,124,208 $ 1,005,472 $ 1,124,208 $ 1,005,472 $ 1,282,793
[1] Restricted cash is classified under the Prepaid expenses and other current assets and Other assets line items on the Condensed Consolidated Balance Sheets (Note 7).
v3.25.0.1
BASIS OF PRESENTATION
 6 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BASIS OF PRESENTATION BASIS OF PRESENTATION
The accompanying Condensed 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 December 31, 2024, 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 Condensed 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.
Beginning in the first quarter of Fiscal 2025, for the three and six months ended December 31, 2023, the Company reclassified expenses of $7.4 million and $15.6 million, respectively, from Research and development to Sales and marketing in the Condensed Consolidated Statements of Income to provide a better representation of the function of the expenses. We also reclassified prior period information to conform to current presentation.
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 Condensed 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, (xii) the valuation of derivative instruments and (xiii) the accounting for disposals of assets and liabilities.
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 17 “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 Condensed Consolidated Statements of Income up to the date of disposition.
v3.25.0.1
ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS
 6 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS
Accounting Pronouncements Adopted in Fiscal 2025
During Fiscal 2025, we have not adopted any accounting pronouncements that have had a material impact to our Condensed Consolidated Financial Statements or disclosures.
Accounting Pronouncements Not Yet Adopted in Fiscal 2025
Segment Reporting
In November 2023, the FASB issued Accounting Standards Update (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. Public entities must adopt the new guidance for fiscal years beginning after December 15, 2023, and interim periods within 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 2023-07 on the Company’s financial disclosures.
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.
v3.25.0.1
REVENUES
 6 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
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:
Three Months Ended December 31,Six Months Ended December 31,
2024202320242023
Total Revenues by Geography:
Americas (1)
$765,857 $884,287 $1,494,100 $1,729,514 
EMEA (2)
449,068 504,885 868,299 950,325 
Asia Pacific (3)
119,575 145,696 241,106 280,458 
Total revenues$1,334,500 $1,534,868 $2,603,505 $2,960,297 
Total Revenues by Type of Performance Obligation:
Recurring revenues (4)
Cloud services and subscriptions revenue
$462,306 $450,091 $919,330 $901,105 
Customer support revenue
590,595 695,762 1,186,085 1,393,475 
Total recurring revenues
$1,052,901 $1,145,853 $2,105,415 $2,294,580 
License revenue (perpetual, term and subscriptions) 188,923 289,238 314,736 462,264 
Professional service and other revenue92,676 99,777 183,354 203,453 
Total revenues$1,334,500 $1,534,868 $2,603,505 $2,960,297 
Total Revenues by Timing of Revenue Recognition:
Point in time $188,923 $289,238 $314,736 $462,264 
Over time (including professional service and other revenue)1,145,577 1,245,630 2,288,769 2,498,033 
Total revenues$1,334,500 $1,534,868 $2,603,505 $2,960,297 
______________________
(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 Japan, Australia, China, Korea, Philippines, Singapore, India and New Zealand.
(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:
As of December 31, 2024
As of June 30, 2024
Short-term contract assets
$68,487 $66,450 
Long-term contract assets
39,208 38,684 
Short-term deferred revenues
1,452,734 1,521,416 
Long-term deferred revenues
159,987 162,401 
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 six months ended December 31, 2024, we reclassified $57.3 million (six months ended December 31, 2023 — $58.5 million) of contract assets to receivables as a result of the right to the transaction consideration becoming unconditional. During the three and six months ended December 31, 2024 and 2023, respectively, there was no 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 six months ended December 31, 2024 that was included in the deferred revenue balances at June 30, 2024 was $1,131 million (six months ended December 31, 2023—$1,268 million).
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, 2024:
Capitalized costs to obtain a contract as of June 30, 2024
$109,488 
New capitalized costs incurred23,346 
Amortization of capitalized costs(20,821)
Impact of foreign exchange rate changes(1,034)
Capitalized costs to obtain a contract as of December 31, 2024
$110,979 
During the three and six months ended December 31, 2024 and 2023, respectively, there was no significant impairment loss recognized related to capitalized costs to obtain a contract. Refer to Note 7 “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.
As of 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 will discontinue 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. Comparative amounts have not been provided for the quarter ended December 31, 2023 as such information cannot be practically determined for comparison purposes.
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.

($ in billions)
As of December 31, 2024
As of September 30, 2024
As of June 30, 2024
Total RPO (1)
$4.1 $3.9 $4.0 
% recognized as revenue over the following 12 months
63%
63%
63%
Cloud services and subscription RPO
$2.3 $2.2 $2.2 
% recognized as revenue over the following 12 months
50%
51%
51%
Customer support and other RPO (2)
$1.8 $1.7 $1.8 
% recognized as revenue over the following 12 months
79%
78%
78%
______________________
(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.
v3.25.0.1
LEASES
 6 Months Ended
Dec. 31, 2024
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 Condensed Consolidated Balance Sheets.
The following illustrates the Condensed Consolidated Balance Sheets information related to leases:
Operating LeasesBalance Sheet LocationAs of December 31, 2024As of June 30, 2024
Operating lease right of use assets
Operating lease right of use assets$211,079 $219,774 
Operating lease liabilities (current)
Operating lease liabilities$74,699 $76,446 
Operating lease liabilities (non-current)
Long-term operating lease liabilities200,815 218,174 
Total operating lease liabilities$275,514 $294,620 
Finance Leases
Finance lease receivables (current)Prepaid expenses and other current assets$2,548 $4,031 
Finance lease receivables (non-current)
Other assets1,378 2,329 
Total finance lease receivables$3,926 $6,360 
Finance lease liabilities (current)Accounts payable and accrued liabilities$2,286 $3,173 
Finance lease liabilities (non-current)
Accrued liabilities1,377 2,327 
Total finance lease liabilities$3,663 $5,500 
The weighted average remaining lease term and discount rate for the periods indicated below were as follows:
As of December 31, 2024As of June 30, 2024
Weighted-average remaining lease term
Operating leases4.79 years5.13 years
Finance leases1.57 years1.85 years
Weighted-average discount rate
Operating leases5.03 %5.00 %
Finance leases5.39 %5.47 %
Lease Costs and Other Information
The following illustrates the various components of lease costs for the period indicated:
Three Months Ended December 31,Six Months Ended December 31,
2024202320242023
Operating lease cost$20,643 $22,594 $41,748 $46,334 
Short-term lease cost639 737 978 1,892 
Variable lease cost836 1,321 1,891 2,456 
Sublease income(2,692)(3,375)(5,466)(6,713)
Total lease cost$19,426 $21,277 $39,151 $43,969 
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:
Six Months Ended December 31,
20242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating leases$52,044 $55,800 
Finance leases$1,952 $2,763 
Right of use assets obtained in exchange for new lease liabilities:
Operating leases
$30,211 $9,219 

Maturity of Lease Liabilities
The following table presents the future minimum lease payments under our lease liabilities as of December 31, 2024:
Fiscal years ending June 30,Operating LeasesFinance Leases
2025 (six months ended)
$44,520 $1,415 
2026
80,464 1,937 
2027
66,201 459 
2028
46,103 — 
2029
25,672 — 
Thereafter44,454 — 
Total lease payments$307,414 $3,811 
Less: Imputed interest(31,900)(148)
Total$275,514 $3,663 
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 $6.9 million over the remainder of Fiscal 2025 and $32.0 million thereafter.
v3.25.0.1
GOODWILL
 6 Months Ended
Dec. 31, 2024
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 since June 30, 2024:
Balance as of June 30, 2024
$7,488,367 
Acquisition of Pillr (Note 17)(1)
196 
Divestiture of AMC business (Note 17)(2)
1,390 
Impact of foreign exchange rate changes(6,549)
Balance as of December 31, 2024
$7,483,404 
______________________
(1)Adjustment relates to the open measurement period.
(2)Relates to the final settlement of working capital and other adjustments.
v3.25.0.1
ACQUIRED INTANGIBLE ASSETS
 6 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
ACQUIRED INTANGIBLE ASSETS ACQUIRED INTANGIBLE ASSETS
As of December 31, 2024
Cost
Accumulated Amortization
Net
Technology assets
$1,142,284 $(425,810)$716,474 
Customer assets
2,642,752 (1,130,139)1,512,613 
Total$3,785,036 $(1,555,949)$2,229,087 
As of June 30, 2024
CostAccumulated AmortizationNet
Technology assets$1,153,457 $(342,528)$810,929 
Customer assets2,762,371 (1,087,036)1,675,335 
Total$3,915,828 $(1,429,564)$2,486,264 
Where applicable, the above balances as of December 31, 2024 have been reduced to reflect the impact of intangible assets where the gross cost has become fully amortized during the six months ended December 31, 2024. The impact of this resulted in reductions to the cost and accumulated amortization of technology assets and customer assets of $11 million and $118 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:
Fiscal years ending June 30,
2025 (six months ended)
$253,787 
2026467,267 
2027396,816 
2028379,434 
2029282,748 
2030 and Thereafter
449,035 
Total$2,229,087 
v3.25.0.1
PREPAID EXPENSES AND OTHER ASSETS
 6 Months Ended
Dec. 31, 2024
Other Assets [Abstract]  
PREPAID EXPENSES AND OTHER ASSETS PREPAID EXPENSES AND OTHER ASSETS
Prepaid expenses and other current assets:
As of December 31, 2024As of June 30, 2024
Deposits and restricted cash$1,616 $4,142 
Capitalized costs to obtain a contract
39,166 44,577 
Short-term prepaid expenses and other current assets
143,937 192,065 
Derivative asset (1)
2,044 2,127 
Total$186,763 $242,911 
______________________
(1)Represents the asset related to our derivative instrument activity (see Note 15 “Derivative Instruments and Hedging Activities” for more details).
Other assets:
As of December 31, 2024As of June 30, 2024
Deposits and restricted cash
$22,211 $20,063 
Capitalized costs to obtain a contract
71,813 64,911 
Investments119,919 124,168 
Available-for-sale financial assets40,012 40,541 
Long-term prepaid expenses and other long-term assets
42,427 48,598 
Total$296,382 $298,281 
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 Condensed Consolidated Statements of Income (see Note 20 “Other Income (Expense), Net”). During the three and six months ended December 31, 2024, our share of income (loss) from these investments was $1.5 million and $2.0 million, respectively (three and six months ended December 31, 2023—$(8.5) million and $(18.2) 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 14 “Fair Value Measurement”) with unrealized gains and losses recorded within “Other comprehensive income (loss), net” (see Note 18 “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.
v3.25.0.1
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
 6 Months Ended
Dec. 31, 2024
Accounts Payable and Accrued Liabilities [Abstract]  
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
Accounts payable and accrued liabilities:
 
As of December 31, 2024As of June 30, 2024
Accounts payable—trade$128,432 $151,202 
Accrued salaries, incentives and commissions199,362 267,991 
Accrued liabilities216,585 262,190 
Accrued sales and other tax liabilities29,342 21,167 
Derivative liability (1)
125,221 159,234 
Accrued interest on long-term debt37,729 38,670 
Amounts payable in respect of restructuring and other special charges30,024 22,489 
Asset retirement obligations5,946 8,173 
Total
$772,641 $931,116 
______________________
(1)Represents the liability related to our derivative instrument activity (see Note 15 “Derivative Instruments and Hedging Activities” for more details).
Long-term accrued liabilities: 
As of December 31, 2024As of June 30, 2024
Amounts payable in respect of restructuring and other special charges$7,923 $9,682 
Other accrued liabilities8,184 15,390 
Asset retirement obligations22,867 21,411 
Total
$38,974 $46,483 
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 December 31, 2024, the present value of this obligation was $28.8 million (June 30, 2024—$29.6 million), with an undiscounted value of $31.5 million (June 30, 2024—$32.8 million).
v3.25.0.1
LONG-TERM DEBT
 6 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
As of December 31, 2024As of June 30, 2024
Total debt
Senior Notes 2031$650,000 $650,000 
Senior Notes 2030900,000 900,000 
Senior Notes 2029850,000 850,000 
Senior Notes 2028900,000 900,000 
Senior Secured Notes 20271,000,000 1,000,000 
Acquisition Term Loan2,203,300 2,221,225 
Total principal payments due6,503,300 6,521,225 
Unamortized debt discount and issuance costs (1)
(118,636)(128,432)
Total amount outstanding6,384,664 6,392,793 
Less:
Current portion of long-term debt
Acquisition Term Loan35,850 35,850 
Total current portion of long-term debt35,850 35,850 
Non-current portion of long-term debt$6,348,814 $6,356,943 
______________________
(1)During the three and six months ended December 31, 2024, we recorded $1.0 million and $1.0 million of debt issuance costs, respectively, related to the modification of the Acquisition Term Loan (as defined below) (three and six months ended December 31, 2023—$0.8 million and $2.4 million, respectively, related to the amendment of the Revolver and the modification of the Acquisition Term Loan, each as defined below).
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 three and six months ended December 31, 2024, we recorded interest expense of $6.7 million and $13.4 million, respectively, relating to Senior Notes 2031 (three and six months ended December 31, 2023—$6.7 million and $13.4 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. On July 1, 2024, 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 three and six months ended December 31, 2024, we recorded interest expense of $9.3 million and $18.6 million, respectively, relating to Senior Notes 2030 (three and six months ended December 31, 2023—$9.3 million and $18.6 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 three and six months ended December 31, 2024, we recorded interest expense of $8.2 million and $16.4 million, respectively, relating to Senior Notes 2029 (three and six months ended December 31, 2023—$8.2 million and $16.4 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 three and six months ended December 31, 2024, we recorded interest expense of $8.7 million and $17.4 million, respectively, relating to Senior Notes 2028 (three and six months ended December 31, 2023—$8.7 million and $17.4 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 financing of the acquisition of Micro Focus International Limited, formerly Micro Focus International plc, and its subsidiaries (Micro Focus) (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 December 31, 2024, the Senior Secured Notes 2027 bear an effective interest rate of 7.39%. The effective interest rate includes interest expense of $34.6 million and amortization of debt discount and issuance costs of $1.4 million.
For the three and six months ended December 31, 2024, we recorded interest expense of $17.3 million and $34.6 million, respectively, relating to Senior Secured Notes 2027 (three and six months ended December 31, 2023—$17.3 million and $34.6 million, respectively).
Term Loan B
On May 30, 2018, we entered into a credit facility that provides 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 three and six months ended December 31, 2024, we did not record any interest expense relating to Term Loan B (three and six months ended December 31, 2023—$17.3 million and $34.5 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 December 31, 2024, our consolidated net leverage ratio, as calculated in accordance with the applicable agreement, was 2.45:1.00.
As of December 31, 2024, we had no outstanding balance under the Revolver (June 30, 2024—nil). For the three and six months ended December 31, 2024, we did not record any interest expense relating to the Revolver (three and six months ended December 31, 2023—$0.2 million and $2.2 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). 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 December 31, 2024, the outstanding balance on the Acquisition Term Loan bears an interest rate of 6.32%. As of December 31, 2024, the Acquisition Term Loan bears an effective interest rate of 7.38%. The effective interest rate includes interest expense of $81.1 million and amortization of debt discount and issuance costs of $7.2 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 December 31, 2024, our consolidated net leverage ratio, as calculated in accordance with the applicable agreement, was 2.45:1:00.
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 three and six months ended December 31, 2024, we recorded interest expense of $38.2 million and $81.1 million, respectively, relating to the Acquisition Term Loan (three and six months ended December 31, 2023—$73.1 million and $150.3 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.
v3.25.0.1
PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS
 6 Months Ended
Dec. 31, 2024
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 48 pension and other post-retirement plans in multiple countries. 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 December 31, 2024, make up approximately 56% 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 Condensed Consolidated Balance Sheets.
The following are details of net pension expense relating to the defined benefit pension plans:
 Three Months Ended December 31,Six Months Ended December 31,
 2024202320242023
Pension expense:
Service cost$2,714 $2,828 $5,542 $5,553 
Interest cost3,148 3,122 6,485 6,211 
Expected return of plan assets(2,842)(2,903)(5,871)(5,711)
Amortization of actuarial (gains) losses 330 165 657 330 
Net pension expense$3,350 $3,212 $6,813 $6,383 
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 Condensed Consolidated Statements of Income.
v3.25.0.1
EQUITY AND SHARE-BASED COMPENSATION
 6 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
EQUITY AND SHARE-BASED COMPENSATION EQUITY AND SHARE-BASED COMPENSATION
Equity
Cash Dividends
For the three and six months ended December 31, 2024, pursuant to the Company’s dividend policy, we declared total non-cumulative dividends of $0.2625 and $0.525 per Common Share, respectively, in the aggregate amount of $68.3 million and $137.4 million, respectively, which we paid during the same periods (three and six months ended December 31, 2023—$0.25 and $0.50 per Common Share, respectively, in the aggregate amount of $66.4 million and $133.4 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 three and six months ended December 31, 2024, we repurchased 1,362,721 and 2,187,135 Common Shares on the open market at a cost of $40.0 million and $65.0 million, respectively, for potential settlement of awards under our LTIP or other plans as described below (three and six months ended December 31, 2023—nil and 1,400,000 Common Shares were purchased at a cost of nil and $53.1 million, respectively).
During the three and six months ended December 31, 2024, we delivered to eligible participants 1,036,378 and 1,097,265 Common Shares, respectively, that were purchased in the open market in connection with the settlement of awards under our LTIP and other plans (three and six months ended December 31, 2023—353,247 and 536,560 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 three and six months ended December 31, 2024, 213,432 and 602,734 Common Shares, respectively, were eligible for issuance to employees enrolled in the ESPP (three and six months ended December 31, 2023—186,974 and 473,746 Common Shares, respectively). During the three and six months ended December 31, 2024, cash in the amount of $6.0 million and $15.9 million, respectively, was received from employees relating to the ESPP (three and six months ended December 31, 2023—$6.7 million and $15.3 million, respectively).
Share Repurchase Plan
On April 30, 2024, the Board authorized a share repurchase plan (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 may 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, NASDAQ and/or alternative trading systems in Canada and/or the United States, if eligible, subject to applicable law and stock exchange rules. 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 2025 Repurchase Plan will be effected in accordance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the Exchange Act), and includes a normal course issuer bid to provide means to execute purchases over the TSX.
During the three and six months ended December 31, 2024, we repurchased and cancelled 2,212,971 and 4,862,102 Common Shares for $67.1 million and $153.6 million, inclusive of 2% Canadian excise taxes recorded. During the three and six months ended December 31, 2023, we did not repurchase any Common Shares.
Share-Based Compensation
Share-based compensation expense for the periods indicated below is detailed as follows: 
 Three Months Ended
December 31,		Six Months Ended
December 31,
 2024202320242023
Stock Options (issued under Stock Option Plans)$3,841 $5,716 $6,577 $10,260 
Performance Share Units (issued under LTIP)5,510 6,928 12,698 12,817 
Restricted Share Units (issued under LTIP)4,546 3,034 8,313 5,915 
Restricted Share Units (other)13,436 22,299 26,721 43,671 
Deferred Share Units (directors)1,387 688 2,232 1,602 
Employee Stock Purchase Plan1,641 1,510 3,378 3,005 
Total share-based compensation expense$30,361 $40,175 $59,919 $77,270 
A summary of unrecognized compensation cost for unvested share-based compensation awards is as follows: 
 As of December 31, 2024
 Unrecognized Compensation CostWeighted Average Recognition Period (years)
Stock Options (issued under Stock Option Plans)$41,054 2.45
Performance Share Units (issued under LTIP)59,345 2.18
Restricted Share Units (issued under LTIP)23,932 1.59
Restricted Share Units (other)55,356 1.81
Total unrecognized share-based compensation cost$179,687 
Stock Options
A summary of activity under our stock option plans for the six months ended December 31, 2024 is as follows:
Options
Weighted-Average 
Exercise
Price
Weighted-
Average
Remaining
Contractual 
Term
(years)
Aggregate 
Intrinsic Value
($’000's)
Outstanding at June 30, 2024
12,207,412 $38.51 4.31$6,142 
Granted1,890,920 28.75 
Exercised(70,125)26.81 
Forfeited or expired(1,201,609)37.63 
Outstanding at December 31, 2024
12,826,598 $37.21 4.26$1,376 
Exercisable at December 31, 2024
5,477,855 $40.49 3.01$476 
As of December 31, 2024, 4,329,456 options to purchase Common Shares were available for issuance under our stock option plans.
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.
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:
 Three Months Ended December 31,Six Months Ended December 31,
 2024202320242023
Weighted–average fair value of options granted$6.43 $10.34 $5.89 $9.57 
Weighted-average assumptions used:
Expected volatility28.98 %31.33 %28.66 %31.07 %
Risk–free interest rate4.14 %4.40 %3.74 %4.42 %
Expected dividend yield3.42 %2.44 %3.49 %2.58 %
Expected life (in years)4.324.274.314.25
Forfeiture rate (based on historical rates)7 %7 %7 %7 %
Average exercise share price$29.97 $40.14 $28.75 $37.96 
Long-Term Incentive Plans
We incentivize certain eligible employees, in part, with long-term compensation pursuant to our LTIP. The LTIP is a rolling three-year program that grants eligible employees a certain number of target Performance Share Units (PSUs) and/or Restricted Share Units (RSUs). Target PSUs become vested upon the achievement of certain financial and/or operational performance criteria (the Performance Conditions) that are determined at the time of the grant. The Performance Conditions for vesting of the outstanding PSUs are based on market conditions or performance-based revenue conditions. RSUs are employee service-based awards and vest subject to an eligible employee’s continued employment throughout the applicable vesting period.
PSUs and RSUs granted under the LTIP have been measured at fair value as of the effective date, consistent with ASC Topic 718, and will be charged to share-based compensation expense over the remaining life of the plan. We estimate the fair value of PSUs with market-based conditions using the Monte Carlo pricing model and RSUs have been valued based upon their grant date fair value. The fair value of PSUs with performance-based conditions have been valued based upon their grant date fair value. Beginning in Fiscal 2023, certain PSU and RSU grants were eligible to receive dividend equivalent units that vest under the same conditions as the underlying grants.
Performance Share Units (Issued Under LTIP)
PSUs (issued under LTIP) vest after three years from the respective date of grants and upon the achievement of Performance Conditions determined at the time of the grant.
A summary of activity under our PSUs issued under the LTIP for the six months ended December 31, 2024 is as follows:
UnitsWeighted-Average
Grant Date Fair Value
Weighted-
Average
Remaining
Contractual 
Term
(years)
Aggregate 
Intrinsic Value
($’000's)
Outstanding at June 30, 2024
1,605,116 $56.09 1.70$48,218 
Granted (1)
904,116 47.21 
Vested (1)
(257,611)75.14 
Forfeited or expired(154,169)53.11 
Outstanding at December 31, 2024
2,097,452 $48.15 2.13$56,259 
______________________
(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:
 Six Months Ended December 31,
 20242023
Weighted–average fair value of performance share units granted$47.96 $59.48 
Weighted-average assumptions used:
Expected volatility
30.26%
28.05%
Risk–free interest rate
3.67%
4.38%
Expected dividend yield— %— %
Expected life (in years)3.113.10
Restricted Share Units (Issued Under LTIP)
Beginning in Fiscal 2025, grants of RSUs (issued under LTIP) vest on a straight-line basis over three years from the respective date of grants. Grants of RSUs (issued under LTIP) prior to Fiscal 2025 vest after three years from the respective date of grants.
A summary of activity under our RSUs issued under the LTIP for the six months ended December 31, 2024 is as follows:
UnitsWeighted-Average
Grant Date Fair Value		Weighted-
Average
Remaining
Contractual 
Term
(years)		Aggregate 
Intrinsic Value
($’000's)
Outstanding at June 30, 2024
956,325 $39.61 1.77$28,728 
Granted650,780 28.57 
Vested(170,370)49.92 
Forfeited or expired(76,426)36.14 
Outstanding at December 31, 2024
1,360,309 $33.25 2.20$38,523 
Restricted Share Units (Other)
In addition to the grants made in connection with the LTIP discussed above, from time to time, we may grant RSUs to certain employees in accordance with employment and other non-LTIP related agreements. RSUs (other) vest over a specified contract date, typically two or four years from the respective date of grants.
A summary of activity under our RSUs (other) issued for the six months ended December 31, 2024 is as follows:
UnitsWeighted-Average
Grant Date Fair Value
Weighted-
Average
Remaining
Contractual 
Term
(years)
Aggregate 
Intrinsic Value
($’000's)
Outstanding at June 30, 2024
4,555,955 $35.87 1.79$136,861 
Granted887,393 27.37 
Vested(746,565)28.89 
Forfeited or expired(215,306)37.26 
Outstanding at December 31, 2024
4,481,477 $35.28 1.68$126,915 
Deferred Share Units (DSUs)
The DSUs are granted to certain non-employee directors. DSUs are issued under our Deferred Share Unit Plan. DSUs granted as compensation for director fees vest immediately, whereas all other DSUs granted vest at our next annual general meeting following the granting of the DSUs. No DSUs are payable by us until the director ceases to be a member of the Board.
A summary of activity under our DSUs issued for the six months ended December 31, 2024 is as follows:
UnitsWeighted-Average
Price
Weighted-
Average
Remaining
Contractual 
Term
(years)
Aggregate 
Intrinsic Value
($’000's)
Outstanding at June 30, 2024 (1)
1,082,471 $30.67 0.42$32,517 
Granted 95,733 32.00 
Outstanding at December 31, 2024 (2)
1,178,204 $30.78 0.84$33,374 
______________________
(1)    Includes 47,871 unvested DSUs.
(2)    Includes 62,177 unvested DSUs.
v3.25.0.1
GUARANTEES AND CONTINGENCIES
 6 Months Ended
Dec. 31, 2024
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:
 Payments due between
 TotalJanuary 1, 2025 - June 30, 2025July 1, 2025 - June 30, 2027July 1, 2027 - June 30, 2029July 1, 2029 and beyond
Long-term debt obligations (1)
$8,079,195 $188,196 $749,368 $2,502,169 $4,639,462 
Purchase obligations for contracts not accounted for as lease obligations (2)
260,899 100,949 159,950 — — 
Total
$8,340,094 $289,145 $909,318 $2,502,169 $4,639,462 
______________________
(1)Includes interest up to maturity and principal payments. See Note 9 “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 4 “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 Condensed 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 Quarterly Report on Form 10-Q, 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 December 31, 2024, 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 $78.6 million. As of December 31, 2024, 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 Condensed Consolidated Balance Sheets as of December 31, 2024.
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 2019 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 2019 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, Fiscal 2018 and Fiscal 2019 on a basis consistent with its proposal to reduce the available depreciable basis of assets in Canada. On April 19, 2022, we filed our notice of objection regarding the reassessment in respect of Fiscal 2017 and on March 15, 2023, we filed our notice of objection regarding the reassessment in respect of Fiscal 2018. On December 11, 2023, we filed a notice of objection regarding Fiscal 2019. In December 2024, the CRA issued a proposal confirming their intention to reassess Fiscal 2020 on a basis consistent with the reassessments issued regarding Fiscal 2017 through 2019. We intend to file a notice of objection against the Fiscal 2020 reassessment. 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 2019 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 the utilization of available tax attributes; however, to the extent the CRA reassesses Fiscal 2020 and subsequent fiscal years on a similar basis, we expect to make certain minimum payments required under Canadian legislation, which may need to be provisionally made starting in Fiscal 2025 while the matter is 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 Quarterly Report on Form 10-Q, we have not recorded any accruals in respect of these reassessments or proposed reassessment in our Condensed Consolidated Financial Statements.
v3.25.0.1
INCOME TAXES
 6 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company’s effective tax rate for the three months ended December 31, 2024, increased to a provision of 18.1%, compared to a provision of 17.6% for the three months ended December 31, 2023.
The Company’s effective tax rate for the six months ended December 31, 2024, increased to a provision of 14.4%, compared to a provision of 13.4% for the six months ended December 31, 2023.
The Company’s effective tax rate for the three months ended December 31, 2024 differs from the Canadian statutory rate of 26.5% primarily due to tax benefits related to a net decrease in unrecognized tax benefits, foreign tax credits, research and development credits, and a change in valuation allowance, partially offset by disallowed share-based compensation deductions and foreign source income inclusion in the U.S. and Canada.
The Company’s effective tax rate for the three months ended December 31, 2023 differs from the Canadian statutory rate primarily due to tax benefits related to foreign tax credits, research and development credits, partially offset by U.S. Base Erosion and Anti-Abuse Tax (BEAT).
The Company’s effective tax rate for the six months ended December 31, 2024 differs from the Canadian statutory rate of 26.5% primarily due to tax benefits related to a net decrease in unrecognized tax benefits, foreign tax credits, research and development credits, and a change in valuation allowance, partially offset by disallowed share-based compensation deductions and foreign source income inclusion in the U.S. and Canada.
The Company’s effective tax rate for the six months ended December 31, 2023 differs from the Canadian statutory rate primarily due to tax benefits related to foreign tax credits, research and development credits, partially offset by U.S. BEAT.
As of December 31, 2024, the gross amount of unrecognized tax benefits accrued was $148.6 million (June 30, 2024 — $180.4 million), which is inclusive of interest and penalties accrued of $19.1 million (June 30, 2024 — $24.3 million). We believe that it is reasonably possible that the gross unrecognized tax benefit could decrease by $28.6 million in the next 12 months, 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.
As of December 31, 2024, we have recognized a deferred income tax liability of $16.8 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, is expected. The timing of the refund is uncertain as the UK Government must pass legislation by way of regulations to facilitate the refund, but it is reasonably expected to be received within the next twelve months. Given the expected timing of the refund, the income tax recoverable was reclassified to short term and recognized as part of current assets as of December 31, 2024.
v3.25.0.1
FAIR VALUE MEASUREMENT
 6 Months Ended
Dec. 31, 2024
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 Condensed 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 9 “Long-Term Debt” for further details.
The following table summarizes the fair value of the Company’s financial instruments as of December 31, 2024 and June 30, 2024:
Fair Value
Fair Value HierarchyDecember 31, 2024June 30, 2024
Assets:
Available-for-sale financial assets (Note 7)
Level 2$15,483 $15,603 
Available-for-sale financial assets (Note 7)
Level 324,529 24,938 
Derivative asset (Note 15)
Level 22,044 2,127 
Liabilities:
Derivative liability (Note 15)
Level 2$(125,221)$(159,234)
Senior Notes (Note 9) (1)
Level 2(4,046,675)(4,006,771)
______________________
(1)    Senior Notes are presented within the Condensed Consolidated Balance Sheets at amortized cost. See Note 9 “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 December 31, 2024.
Available-for-sale
financial assets
Balance as of June 30, 2024
$24,938 
Loss recognized in income(409)
Balance as of December 31, 2024
$24,529 
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 7 “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 three and six months ended December 31, 2024 and 2023, 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 three and six months ended December 31, 2024 and 2023, respectively, no indications of impairments were identified and therefore no fair value measurements were required.
v3.25.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
 6 Months Ended
Dec. 31, 2024
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. Subsequent to December 31, 2024, we terminated certain of our outstanding 5-year EUR/USD cross currency swaps with an aggregate notional amount of €138 million. Refer to Note 23 “Subsequent Events” for more details.
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 Condensed 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 Condensed 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 Condensed 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 Condensed 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 Condensed 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 one 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 loss, net within the Condensed Consolidated Statements of Comprehensive Income. As of December 31, 2024, the fair value of the contracts is recorded within Accounts payable and accrued liabilities within the Condensed Consolidated Balance Sheets and represents the net loss before tax effect that is expected to be reclassified from accumulated other comprehensive income (loss) into earnings within the next twelve months.
As of December 31, 2024, the notional amount of forward contracts we held to sell U.S. dollars in exchange for Canadian dollars was $94.4 million (June 30, 2024—$95.7 million).
Fair Value of Derivative Instruments and Effect of Derivative Instruments on Financial Performance
The fair values of outstanding derivative instruments are as follows:
As of
December 31, 2024		As of
June 30, 2024
InstrumentBalance Sheet LocationAssetLiabilityAssetLiability
Derivatives designated as hedges:
Cash flow hedgeAccounts payable and accrued liabilities$— $(3,905)$— $(828)
Net investment hedge
Prepaid expenses and other current assets (Accounts payable and accrued liabilities)
610 (71,710)654 (88,186)
Total derivatives designated as hedges
610 (75,615)654 (89,014)
Derivatives not designated as hedges:
Cross currency swap contracts
Prepaid expenses and other current assets (Accounts payable and accrued liabilities)
1,434 (49,606)1,473 (70,220)
Total derivatives not designated as hedges
1,434 (49,606)1,473 (70,220)
Total derivatives$2,044 $(125,221)$2,127 $(159,234)
The effects of gains (losses) from derivative instruments on our Condensed Consolidated Statements of Income is as follows:
Three Months Ended
December 31,		Six Months Ended
December 31,
InstrumentIncome Statement Location2024202320242023
Derivatives designated as hedges:
Cash flow hedgeOperating expenses$(1,374)$(446)$(1,730)$(458)
Net investment hedgeInterest and other related expense, net1,119 893 1,846 1,815 
Derivatives not designated as hedges:
Cross currency swap contractsOther income (expense), net45,549 (38,117)20,614 (20,222)
Cross currency swap contractsInterest and other related expense, net1,031 830 1,712 1,686 
Total$46,325 $(36,840)$22,442 $(17,179)
The effects of the cash flow and net investment hedges on our Condensed Consolidated Statements of Comprehensive Income:
Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Comprehensive Income Location
Three Months Ended
December 31,		Six Months Ended
December 31,
2024202320242023
Gain (loss) recognized in OCI (loss) on cash flow hedge (effective portion)Unrealized gain (loss) on cash flow hedge$(5,698)$2,071 $(4,808)$(434)
Gain (loss) recognized in OCI (loss) on net investment hedge (effective portion)Net foreign currency translation adjustment$42,553 $(43,122)$16,476 $(26,015)
Gain (loss) reclassified from AOCI into income (effective portion) - cash flow hedgeOperating expenses$(1,374)$(446)$(1,730)$(458)
Gain (loss) reclassified from AOCI into income (excluded from effectiveness testing) - net investment hedgeInterest and other related expense, net$561 $561 $1,122 $1,122 
v3.25.0.1
SPECIAL CHARGES (RECOVERIES)
 6 Months Ended
Dec. 31, 2024
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. 
Three Months Ended December 31,Six Months Ended December 31,
2024202320242023
Business Optimization Plan
$12,347 $— $54,850 $— 
Micro Focus Acquisition Restructuring Plan611 44,760 (1,016)51,624 
Other historical restructuring plans(540)(266)(833)(383)
Divestiture-related costs
49 5,385 4,209 6,982 
Acquisition-related costs(44)50 692 1,120 
Other charges
2,815 4,237 4,472 8,617 
Total$15,238 $54,166 $62,374 $67,960 
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 (Business Optimization Plan). The Business Optimization Plan charges relate to workforce reductions. 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 December 31, 2024, we expect total costs to be incurred in connection with the Business Optimization Plan to be approximately $60.0 million, of which $54.9 million has been recorded within Special charges (recoveries) within the Condensed Consolidated Statements of Income to date.
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 Condensed Consolidated Balance Sheets, for the six months ended December 31, 2024 is shown below.

Business Optimization Plan
Workforce reductionFacility chargesTotal
Balance payable as of June 30, 2024
$— $— $— 
Accruals and adjustments52,621 844 53,465 
Cash payments(35,368)(1)(35,369)
Foreign exchange and other non-cash adjustments(444)(379)(823)
Balance payable as of December 31, 2024
$16,809 $464 $17,273 
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, $145.5 million has been recorded within Special charges (recoveries) within the Condensed 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 Condensed Consolidated Balance Sheets, for the six months ended December 31, 2024 is shown below.
Micro Focus Acquisition Restructuring PlanWorkforce reductionFacility chargesTotal
Balance payable as of June 30, 2024
$11,765 $16,326 $28,091 
Accruals and adjustments(1,047)1,400 353 
Cash payments(7,137)(2,832)(9,969)
Foreign exchange and other non-cash adjustments(54)(774)(828)
Balance payable as of December 31, 2024
$3,527 $14,120 $17,647 
Divestiture-related costs
Divestiture-related costs, recorded within Special charges (recoveries), include the direct costs related to the AMC Divestiture.
Acquisition-related costs
Acquisition-related costs, recorded within Special charges (recoveries), include direct costs of potential and completed acquisitions.
Other charges
For the three and six months ended December 31, 2024, Other charges include $2.8 million and $4.4 million, respectively, of other miscellaneous charges primarily associated with the Micro Focus Acquisition.
For the three and six months ended December 31, 2023, Other charges include $2.5 million and $5.4 million, respectively, of compensation related charges, and $1.3 million and $2.4 million, respectively, of other miscellaneous charges, both associated with the Micro Focus Acquisition, and $0.5 million and $0.9 million, respectively, related to pre-acquisition equity incentives of Zix Corporation, which upon acquisition were replaced by equivalent value cash settlements.
v3.25.0.1
ACQUISITIONS AND DIVESTITURES
 6 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, 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 Condensed Consolidated and 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 Other income (expense), net 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 and resulted in a payment of $11.7 million, and a decrease to the gain on 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 Condensed 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 9 “Long-Term Debt.” The Company has 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 Condensed Consolidated Statements of Cash Flows. These transition service costs are reimbursable by Rocket Software. For the three and six months ended December 31, 2024, we billed Rocket Software $12.7 million and $27.2 million, respectively, under the Transition Service Agreement (TSA).
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:
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 
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.
v3.25.0.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 6 Months Ended
Dec. 31, 2024
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Three Months Ended December 31, 2024
Foreign Currency Translation Adjustments (1)
Cash Flow HedgesAvailable-for-Sale Financial AssetsDefined Benefit Pension PlansAccumulated Other Comprehensive Income (Loss)
Balance as of September 30, 2024
$(64,950)$308 $(126)$(9,688)$(74,456)
Other comprehensive income (loss) before reclassifications, net of tax1,167 (4,188)436 — (2,585)
Amounts reclassified into net income, net of tax— 1,010 — 252 1,262 
Total other comprehensive income (loss), net for the period
1,167 (3,178)436 252 (1,323)
Balance as of December 31, 2024
$(63,783)$(2,870)$310 $(9,436)$(75,779)
Six Months Ended December 31, 2024
Foreign Currency Translation Adjustments (1)
Cash Flow HedgesAvailable-for-Sale InvestmentsDefined Benefit Pension PlansAccumulated Other Comprehensive Income (Loss)
Balance as of June 30, 2024
$(59,760)$(608)$(374)$(8,877)$(69,619)
Other comprehensive income (loss) before reclassifications, net of tax(4,023)(3,534)684 (1,045)(7,918)
Amounts reclassified into net income, net of tax— 1,272 — 486 1,758 
Total other comprehensive income (loss), net for the period
(4,023)(2,262)684 (559)(6,160)
Balance as of December 31, 2024
$(63,783)$(2,870)$310 $(9,436)$(75,779)
______________________
(1)The amount of foreign currency translation recognized in other comprehensive income during the three and six months ended December 31, 2024 included net gains (losses) relating to our net investment hedge of $42.6 million and $16.5 million, respectively, as further discussed in Note 15 “Derivative Instruments and Hedging Activities.”
Three Months Ended December 31, 2023
Foreign Currency Translation Adjustments (1)
Cash Flow HedgesAvailable-for-Sale InvestmentsDefined Benefit Pension PlansAccumulated Other Comprehensive Income (Loss)
Balance as of September 30, 2023
$(58,697)$(708)$(823)$(9,797)$(70,025)
Other comprehensive income (loss) before reclassifications, net of tax(15,796)1,522 450 (91)(13,915)
Amounts reclassified into net income, net of tax— 328 — 113 441 
Total other comprehensive income (loss), net for the period
(15,796)1,850 450 22 (13,474)
Balance as of December 31, 2023
$(74,493)$1,142 $(373)$(9,775)$(83,499)
Six Months Ended December 31, 2023
Foreign Currency Translation Adjustments (1)
Cash Flow HedgesAvailable-for-Sale InvestmentsDefined Benefit Pension PlansAccumulated Other Comprehensive Income (Loss)
Balance as of June 30, 2023
$(44,114)$1,124 $(602)$(9,967)$(53,559)
Other comprehensive income (loss) before reclassifications, net of tax(30,379)(319)229 (110)(30,579)
Amounts reclassified into net income, net of tax— 337 — 302 639 
Total other comprehensive income (loss), net for the period
(30,379)18 229 192 (29,940)
Balance as of December 31, 2023
$(74,493)$1,142 $(373)$(9,775)$(83,499)
______________________
(1)The amount of foreign currency translation recognized in other comprehensive income during the three and six months ended December 31, 2023 included net gains (losses) relating to our net investment hedge of $(43.1) million and $(26.0) million, respectively, as further discussed in Note 15 “Derivative Instruments and Hedging Activities.”
v3.25.0.1
SUPPLEMENTAL CASH FLOW DISCLOSURES
 6 Months Ended
Dec. 31, 2024
Supplemental Cash Flow Information [Abstract]  
SUPPLEMENTAL CASH FLOW DISCLOSURES SUPPLEMENTAL CASH FLOW DISCLOSURES
 Six Months Ended December 31,
20242023
Cash paid during the period for interest$183,698 $286,471 
Cash received during the period for interest24,563 19,092 
Cash paid during the period for income taxes 299,404 143,645 
v3.25.0.1
OTHER INCOME (EXPENSE), NET
 6 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
OTHER INCOME (EXPENSE), NET OTHER INCOME (EXPENSE), NET
Three Months Ended December 31,Six Months Ended December 31,
2024202320242023
Foreign exchange gains (losses)
$25,539 $(19,624)$14,160 $(8,190)
Unrealized gains (losses) on derivatives
not designated as hedges (1)
45,549 (38,117)20,614 (20,222)
OpenText share in net income (loss) of equity investees (2)
1,538 (8,482)1,993 (18,178)
Adjustment to gain on AMC Divestiture (3)
(4,175)— (4,175)— 
Other miscellaneous income (expense)
164 (2,561)368 (2,024)
Total other income (expense), net
$68,615 $(68,784)$32,960 $(48,614)
______________________
(1)Represents the unrealized gains (losses) on our derivatives not designated as hedges related to the Micro Focus Acquisition (see Note 15 “Derivative Instruments and Hedging Activities” for more details).
(2)Represents our share in net income (loss) 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 7 “Prepaid Expenses and Other Assets” for more details).
(3)Represents final settlement of working capital and other adjustments (see Note 17 “Acquisitions and Divestitures” for more details).
v3.25.0.1
EARNINGS PER SHARE
 6 Months Ended
Dec. 31, 2024
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.
 Three Months Ended December 31,Six Months Ended December 31,
 2024202320242023
Basic earnings per share
Net income attributable to OpenText$229,862 $37,675 $314,230 $118,576 
Basic earnings per share attributable to OpenText$0.87 $0.14 $1.18 $0.44 
Diluted earnings per share
Net income attributable to OpenText$229,862 $37,675 $314,230 $118,576 
Diluted earnings per share attributable to OpenText$0.87 $0.14 $1.18 $0.44 
Weighted-average number of shares outstanding
(in ‘000’s)
Basic265,099 271,568 266,252 271,373 
Effect of dilutive securities94 573 253 646 
Diluted265,193 272,141 266,505 272,019 
Excluded as anti-dilutive (1)
11,338 8,353 10,982 8,151 
______________________
(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.
v3.25.0.1
RELATED PARTY TRANSACTIONS
 6 Months Ended
Dec. 31, 2024
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 favorable 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 six months ended December 31, 2024, 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.
v3.25.0.1
SUBSEQUENT EVENTS
 6 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
Cash Dividends
As part of our quarterly, non-cumulative cash dividend program, we declared, on February 5, 2025, a dividend of $0.2625 per Common Share. The record date for this dividend is March 7, 2025 and the payment date is March 21, 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.
Early Termination of Cross Currency Swaps
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 $10.4 million on January 9, 2025. Subsequent to December 31, 2024, the Company recognized an immaterial loss related to the early termination within Other income (expense), net on our Condensed Consolidated Statements of Income.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Pay vs Performance Disclosure        
Net loss $ 229,862 $ 37,675 $ 314,230 $ 118,576
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.0.1
BASIS OF PRESENTATION (Policies)
 6 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
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 Condensed 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, (xii) the valuation of derivative instruments and (xiii) the accounting for disposals of assets and liabilities.
Accounting Pronouncements Adopted in Fiscal 2025 and Accounting Pronouncements Not Yet Adopted in Fiscal 2025
Accounting Pronouncements Adopted in Fiscal 2025
During Fiscal 2025, we have not adopted any accounting pronouncements that have had a material impact to our Condensed Consolidated Financial Statements or disclosures.
Accounting Pronouncements Not Yet Adopted in Fiscal 2025
Segment Reporting
In November 2023, the FASB issued Accounting Standards Update (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. Public entities must adopt the new guidance for fiscal years beginning after December 15, 2023, and interim periods within 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 2023-07 on the Company’s financial disclosures.
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.
Contract Balances
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.
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 Condensed Consolidated Balance Sheets.
v3.25.0.1
REVENUES (Tables)
 6 Months Ended
Dec. 31, 2024
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:
Three Months Ended December 31,Six Months Ended December 31,
2024202320242023
Total Revenues by Geography:
Americas (1)
$765,857 $884,287 $1,494,100 $1,729,514 
EMEA (2)
449,068 504,885 868,299 950,325 
Asia Pacific (3)
119,575 145,696 241,106 280,458 
Total revenues$1,334,500 $1,534,868 $2,603,505 $2,960,297 
Total Revenues by Type of Performance Obligation:
Recurring revenues (4)
Cloud services and subscriptions revenue
$462,306 $450,091 $919,330 $901,105 
Customer support revenue
590,595 695,762 1,186,085 1,393,475 
Total recurring revenues
$1,052,901 $1,145,853 $2,105,415 $2,294,580 
License revenue (perpetual, term and subscriptions) 188,923 289,238 314,736 462,264 
Professional service and other revenue92,676 99,777 183,354 203,453 
Total revenues$1,334,500 $1,534,868 $2,603,505 $2,960,297 
Total Revenues by Timing of Revenue Recognition:
Point in time $188,923 $289,238 $314,736 $462,264 
Over time (including professional service and other revenue)1,145,577 1,245,630 2,288,769 2,498,033 
Total revenues$1,334,500 $1,534,868 $2,603,505 $2,960,297 
______________________
(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 Japan, Australia, China, Korea, Philippines, Singapore, India and New Zealand.
(4)Recurring revenue is defined as the sum of Cloud services and subscriptions revenue and Customer support revenue.
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:
As of December 31, 2024
As of June 30, 2024
Short-term contract assets
$68,487 $66,450 
Long-term contract assets
39,208 38,684 
Short-term deferred revenues
1,452,734 1,521,416 
Long-term deferred revenues
159,987 162,401 
Schedule of Incremental Costs of Obtaining a Contract with a Customer The following table summarizes the changes in total capitalized costs to obtain a contract, since June 30, 2024:
Capitalized costs to obtain a contract as of June 30, 2024
$109,488 
New capitalized costs incurred23,346 
Amortization of capitalized costs(20,821)
Impact of foreign exchange rate changes(1,034)
Capitalized costs to obtain a contract as of December 31, 2024
$110,979 
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.

($ in billions)
As of December 31, 2024
As of September 30, 2024
As of June 30, 2024
Total RPO (1)
$4.1 $3.9 $4.0 
% recognized as revenue over the following 12 months
63%
63%
63%
Cloud services and subscription RPO
$2.3 $2.2 $2.2 
% recognized as revenue over the following 12 months
50%
51%
51%
Customer support and other RPO (2)
$1.8 $1.7 $1.8 
% recognized as revenue over the following 12 months
79%
78%
78%
______________________
(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.
v3.25.0.1
LEASES (Tables)
 6 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Assets And Liabilities, Lessee
The following illustrates the Condensed Consolidated Balance Sheets information related to leases:
Operating LeasesBalance Sheet LocationAs of December 31, 2024As of June 30, 2024
Operating lease right of use assets
Operating lease right of use assets$211,079 $219,774 
Operating lease liabilities (current)
Operating lease liabilities$74,699 $76,446 
Operating lease liabilities (non-current)
Long-term operating lease liabilities200,815 218,174 
Total operating lease liabilities$275,514 $294,620 
Finance Leases
Finance lease receivables (current)Prepaid expenses and other current assets$2,548 $4,031 
Finance lease receivables (non-current)
Other assets1,378 2,329 
Total finance lease receivables$3,926 $6,360 
Finance lease liabilities (current)Accounts payable and accrued liabilities$2,286 $3,173 
Finance lease liabilities (non-current)
Accrued liabilities1,377 2,327 
Total finance lease liabilities$3,663 $5,500 
Schedule of Lease Costs and Other Information
The weighted average remaining lease term and discount rate for the periods indicated below were as follows:
As of December 31, 2024As of June 30, 2024
Weighted-average remaining lease term
Operating leases4.79 years5.13 years
Finance leases1.57 years1.85 years
Weighted-average discount rate
Operating leases5.03 %5.00 %
Finance leases5.39 %5.47 %
The following illustrates the various components of lease costs for the period indicated:
Three Months Ended December 31,Six Months Ended December 31,
2024202320242023
Operating lease cost$20,643 $22,594 $41,748 $46,334 
Short-term lease cost639 737 978 1,892 
Variable lease cost836 1,321 1,891 2,456 
Sublease income(2,692)(3,375)(5,466)(6,713)
Total lease cost$19,426 $21,277 $39,151 $43,969 
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:
Six Months Ended December 31,
20242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating leases$52,044 $55,800 
Finance leases$1,952 $2,763 
Right of use assets obtained in exchange for new lease liabilities:
Operating leases
$30,211 $9,219 
Schedule of Maturity of Lease Liabilities
The following table presents the future minimum lease payments under our lease liabilities as of December 31, 2024:
Fiscal years ending June 30,Operating LeasesFinance Leases
2025 (six months ended)
$44,520 $1,415 
2026
80,464 1,937 
2027
66,201 459 
2028
46,103 — 
2029
25,672 — 
Thereafter44,454 — 
Total lease payments$307,414 $3,811 
Less: Imputed interest(31,900)(148)
Total$275,514 $3,663 
v3.25.0.1
GOODWILL (Tables)
 6 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Goodwill The following table summarizes the changes in goodwill since June 30, 2024:
Balance as of June 30, 2024
$7,488,367 
Acquisition of Pillr (Note 17)(1)
196 
Divestiture of AMC business (Note 17)(2)
1,390 
Impact of foreign exchange rate changes(6,549)
Balance as of December 31, 2024
$7,483,404 
______________________
(1)Adjustment relates to the open measurement period.
(2)Relates to the final settlement of working capital and other adjustments.
v3.25.0.1
ACQUIRED INTANGIBLE ASSETS (Tables)
 6 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Calculation of Acquired Intangibles by Asset Class
As of December 31, 2024
Cost
Accumulated Amortization
Net
Technology assets
$1,142,284 $(425,810)$716,474 
Customer assets
2,642,752 (1,130,139)1,512,613 
Total$3,785,036 $(1,555,949)$2,229,087 
As of June 30, 2024
CostAccumulated AmortizationNet
Technology assets$1,153,457 $(342,528)$810,929 
Customer assets2,762,371 (1,087,036)1,675,335 
Total$3,915,828 $(1,429,564)$2,486,264 
Schedule of Calculation 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:
Fiscal years ending June 30,
2025 (six months ended)
$253,787 
2026467,267 
2027396,816 
2028379,434 
2029282,748 
2030 and Thereafter
449,035 
Total$2,229,087 
v3.25.0.1
PREPAID EXPENSES AND OTHER ASSETS (Tables)
 6 Months Ended
Dec. 31, 2024
Other Assets [Abstract]  
Schedule of Components of Prepaid Expenses and Other Assets
Prepaid expenses and other current assets:
As of December 31, 2024As of June 30, 2024
Deposits and restricted cash$1,616 $4,142 
Capitalized costs to obtain a contract
39,166 44,577 
Short-term prepaid expenses and other current assets
143,937 192,065 
Derivative asset (1)
2,044 2,127 
Total$186,763 $242,911 
______________________
(1)Represents the asset related to our derivative instrument activity (see Note 15 “Derivative Instruments and Hedging Activities” for more details).
Other assets:
As of December 31, 2024As of June 30, 2024
Deposits and restricted cash
$22,211 $20,063 
Capitalized costs to obtain a contract
71,813 64,911 
Investments119,919 124,168 
Available-for-sale financial assets40,012 40,541 
Long-term prepaid expenses and other long-term assets
42,427 48,598 
Total$296,382 $298,281 
v3.25.0.1
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)
 6 Months Ended
Dec. 31, 2024
Accounts Payable and Accrued Liabilities [Abstract]  
Schedule of Current Liabilities
Accounts payable and accrued liabilities:
 
As of December 31, 2024As of June 30, 2024
Accounts payable—trade$128,432 $151,202 
Accrued salaries, incentives and commissions199,362 267,991 
Accrued liabilities216,585 262,190 
Accrued sales and other tax liabilities29,342 21,167 
Derivative liability (1)
125,221 159,234 
Accrued interest on long-term debt37,729 38,670 
Amounts payable in respect of restructuring and other special charges30,024 22,489 
Asset retirement obligations5,946 8,173 
Total
$772,641 $931,116 
______________________
(1)Represents the liability related to our derivative instrument activity (see Note 15 “Derivative Instruments and Hedging Activities” for more details).
Schedule of Long-Term Accrued Liabilities
Long-term accrued liabilities: 
As of December 31, 2024As of June 30, 2024
Amounts payable in respect of restructuring and other special charges$7,923 $9,682 
Other accrued liabilities8,184 15,390 
Asset retirement obligations22,867 21,411 
Total
$38,974 $46,483 
v3.25.0.1
LONG-TERM DEBT (Tables)
 6 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
As of December 31, 2024As of June 30, 2024
Total debt
Senior Notes 2031$650,000 $650,000 
Senior Notes 2030900,000 900,000 
Senior Notes 2029850,000 850,000 
Senior Notes 2028900,000 900,000 
Senior Secured Notes 20271,000,000 1,000,000 
Acquisition Term Loan2,203,300 2,221,225 
Total principal payments due6,503,300 6,521,225 
Unamortized debt discount and issuance costs (1)
(118,636)(128,432)
Total amount outstanding6,384,664 6,392,793 
Less:
Current portion of long-term debt
Acquisition Term Loan35,850 35,850 
Total current portion of long-term debt35,850 35,850 
Non-current portion of long-term debt$6,348,814 $6,356,943 
______________________
(1)During the three and six months ended December 31, 2024, we recorded $1.0 million and $1.0 million of debt issuance costs, respectively, related to the modification of the Acquisition Term Loan (as defined below) (three and six months ended December 31, 2023—$0.8 million and $2.4 million, respectively, related to the amendment of the Revolver and the modification of the Acquisition Term Loan, each as defined below).
v3.25.0.1
PENSION PLANS AND OTHER POST RETIREMENT BENEFITS (Tables)
 6 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Components of Net Pension Expense for Pension Plan
The following are details of net pension expense relating to the defined benefit pension plans:
 Three Months Ended December 31,Six Months Ended December 31,
 2024202320242023
Pension expense:
Service cost$2,714 $2,828 $5,542 $5,553 
Interest cost3,148 3,122 6,485 6,211 
Expected return of plan assets(2,842)(2,903)(5,871)(5,711)
Amortization of actuarial (gains) losses 330 165 657 330 
Net pension expense$3,350 $3,212 $6,813 $6,383 
v3.25.0.1
EQUITY AND SHARE-BASED COMPENSATION (Tables)
 6 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation Costs
Share-based compensation expense for the periods indicated below is detailed as follows: 
 Three Months Ended
December 31,		Six Months Ended
December 31,
 2024202320242023
Stock Options (issued under Stock Option Plans)$3,841 $5,716 $6,577 $10,260 
Performance Share Units (issued under LTIP)5,510 6,928 12,698 12,817 
Restricted Share Units (issued under LTIP)4,546 3,034 8,313 5,915 
Restricted Share Units (other)13,436 22,299 26,721 43,671 
Deferred Share Units (directors)1,387 688 2,232 1,602 
Employee Stock Purchase Plan1,641 1,510 3,378 3,005 
Total share-based compensation expense$30,361 $40,175 $59,919 $77,270 
Schedule of Unrecognized Compensation Cost
A summary of unrecognized compensation cost for unvested share-based compensation awards is as follows: 
 As of December 31, 2024
 Unrecognized Compensation CostWeighted Average Recognition Period (years)
Stock Options (issued under Stock Option Plans)$41,054 2.45
Performance Share Units (issued under LTIP)59,345 2.18
Restricted Share Units (issued under LTIP)23,932 1.59
Restricted Share Units (other)55,356 1.81
Total unrecognized share-based compensation cost$179,687 
Schedule of Option Activity
A summary of activity under our stock option plans for the six months ended December 31, 2024 is as follows:
Options
Weighted-Average 
Exercise
Price
Weighted-
Average
Remaining
Contractual 
Term
(years)
Aggregate 
Intrinsic Value
($’000's)
Outstanding at June 30, 2024
12,207,412 $38.51 4.31$6,142 
Granted1,890,920 28.75 
Exercised(70,125)26.81 
Forfeited or expired(1,201,609)37.63 
Outstanding at December 31, 2024
12,826,598 $37.21 4.26$1,376 
Exercisable at December 31, 2024
5,477,855 $40.49 3.01$476 
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:
 Three Months Ended December 31,Six Months Ended December 31,
 2024202320242023
Weighted–average fair value of options granted$6.43 $10.34 $5.89 $9.57 
Weighted-average assumptions used:
Expected volatility28.98 %31.33 %28.66 %31.07 %
Risk–free interest rate4.14 %4.40 %3.74 %4.42 %
Expected dividend yield3.42 %2.44 %3.49 %2.58 %
Expected life (in years)4.324.274.314.25
Forfeiture rate (based on historical rates)7 %7 %7 %7 %
Average exercise share price$29.97 $40.14 $28.75 $37.96 
Schedule of Non Option Award Activity
A summary of activity under our PSUs issued under the LTIP for the six months ended December 31, 2024 is as follows:
UnitsWeighted-Average
Grant Date Fair Value
Weighted-
Average
Remaining
Contractual 
Term
(years)
Aggregate 
Intrinsic Value
($’000's)
Outstanding at June 30, 2024
1,605,116 $56.09 1.70$48,218 
Granted (1)
904,116 47.21 
Vested (1)
(257,611)75.14 
Forfeited or expired(154,169)53.11 
Outstanding at December 31, 2024
2,097,452 $48.15 2.13$56,259 
______________________
(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.
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:
 Six Months Ended December 31,
 20242023
Weighted–average fair value of performance share units granted$47.96 $59.48 
Weighted-average assumptions used:
Expected volatility
30.26%
28.05%
Risk–free interest rate
3.67%
4.38%
Expected dividend yield— %— %
Expected life (in years)3.113.10
Schedule of Restricted Stock Activity
A summary of activity under our RSUs issued under the LTIP for the six months ended December 31, 2024 is as follows:
UnitsWeighted-Average
Grant Date Fair Value		Weighted-
Average
Remaining
Contractual 
Term
(years)		Aggregate 
Intrinsic Value
($’000's)
Outstanding at June 30, 2024
956,325 $39.61 1.77$28,728 
Granted650,780 28.57 
Vested(170,370)49.92 
Forfeited or expired(76,426)36.14 
Outstanding at December 31, 2024
1,360,309 $33.25 2.20$38,523 
A summary of activity under our RSUs (other) issued for the six months ended December 31, 2024 is as follows:
UnitsWeighted-Average
Grant Date Fair Value
Weighted-
Average
Remaining
Contractual 
Term
(years)
Aggregate 
Intrinsic Value
($’000's)
Outstanding at June 30, 2024
4,555,955 $35.87 1.79$136,861 
Granted887,393 27.37 
Vested(746,565)28.89 
Forfeited or expired(215,306)37.26 
Outstanding at December 31, 2024
4,481,477 $35.28 1.68$126,915 
Schedule of Nonvested Share Activity
A summary of activity under our DSUs issued for the six months ended December 31, 2024 is as follows:
UnitsWeighted-Average
Price
Weighted-
Average
Remaining
Contractual 
Term
(years)
Aggregate 
Intrinsic Value
($’000's)
Outstanding at June 30, 2024 (1)
1,082,471 $30.67 0.42$32,517 
Granted 95,733 32.00 
Outstanding at December 31, 2024 (2)
1,178,204 $30.78 0.84$33,374 
______________________
(1)    Includes 47,871 unvested DSUs.
(2)    Includes 62,177 unvested DSUs.
v3.25.0.1
GUARANTEES AND CONTINGENCIES (Tables)
 6 Months Ended
Dec. 31, 2024
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:
 Payments due between
 TotalJanuary 1, 2025 - June 30, 2025July 1, 2025 - June 30, 2027July 1, 2027 - June 30, 2029July 1, 2029 and beyond
Long-term debt obligations (1)
$8,079,195 $188,196 $749,368 $2,502,169 $4,639,462 
Purchase obligations for contracts not accounted for as lease obligations (2)
260,899 100,949 159,950 — — 
Total
$8,340,094 $289,145 $909,318 $2,502,169 $4,639,462 
______________________
(1)Includes interest up to maturity and principal payments. See Note 9 “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 4 “Leases.”
v3.25.0.1
FAIR VALUE MEASUREMENT (Tables)
 6 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table summarizes the fair value of the Company’s financial instruments as of December 31, 2024 and June 30, 2024:
Fair Value
Fair Value HierarchyDecember 31, 2024June 30, 2024
Assets:
Available-for-sale financial assets (Note 7)
Level 2$15,483 $15,603 
Available-for-sale financial assets (Note 7)
Level 324,529 24,938 
Derivative asset (Note 15)
Level 22,044 2,127 
Liabilities:
Derivative liability (Note 15)
Level 2$(125,221)$(159,234)
Senior Notes (Note 9) (1)
Level 2(4,046,675)(4,006,771)
______________________
(1)    Senior Notes are presented within the Condensed Consolidated Balance Sheets at amortized cost. See Note 9 “Long-Term Debt” for further details.
Schedule of Reconciliation of Changes in Fair Value of Level 3 Investments
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 December 31, 2024.
Available-for-sale
financial assets
Balance as of June 30, 2024
$24,938 
Loss recognized in income(409)
Balance as of December 31, 2024
$24,529 
v3.25.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 6 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets
The fair values of outstanding derivative instruments are as follows:
As of
December 31, 2024		As of
June 30, 2024
InstrumentBalance Sheet LocationAssetLiabilityAssetLiability
Derivatives designated as hedges:
Cash flow hedgeAccounts payable and accrued liabilities$— $(3,905)$— $(828)
Net investment hedge
Prepaid expenses and other current assets (Accounts payable and accrued liabilities)
610 (71,710)654 (88,186)
Total derivatives designated as hedges
610 (75,615)654 (89,014)
Derivatives not designated as hedges:
Cross currency swap contracts
Prepaid expenses and other current assets (Accounts payable and accrued liabilities)
1,434 (49,606)1,473 (70,220)
Total derivatives not designated as hedges
1,434 (49,606)1,473 (70,220)
Total derivatives$2,044 $(125,221)$2,127 $(159,234)
The effects of gains (losses) from derivative instruments on our Condensed Consolidated Statements of Income is as follows:
Three Months Ended
December 31,		Six Months Ended
December 31,
InstrumentIncome Statement Location2024202320242023
Derivatives designated as hedges:
Cash flow hedgeOperating expenses$(1,374)$(446)$(1,730)$(458)
Net investment hedgeInterest and other related expense, net1,119 893 1,846 1,815 
Derivatives not designated as hedges:
Cross currency swap contractsOther income (expense), net45,549 (38,117)20,614 (20,222)
Cross currency swap contractsInterest and other related expense, net1,031 830 1,712 1,686 
Total$46,325 $(36,840)$22,442 $(17,179)
Schedule of Effects of Derivative Instruments on Income and Other Comprehensive Income (OCI)
The effects of the cash flow and net investment hedges on our Condensed Consolidated Statements of Comprehensive Income:
Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Comprehensive Income Location
Three Months Ended
December 31,		Six Months Ended
December 31,
2024202320242023
Gain (loss) recognized in OCI (loss) on cash flow hedge (effective portion)Unrealized gain (loss) on cash flow hedge$(5,698)$2,071 $(4,808)$(434)
Gain (loss) recognized in OCI (loss) on net investment hedge (effective portion)Net foreign currency translation adjustment$42,553 $(43,122)$16,476 $(26,015)
Gain (loss) reclassified from AOCI into income (effective portion) - cash flow hedgeOperating expenses$(1,374)$(446)$(1,730)$(458)
Gain (loss) reclassified from AOCI into income (excluded from effectiveness testing) - net investment hedgeInterest and other related expense, net$561 $561 $1,122 $1,122 
v3.25.0.1
SPECIAL CHARGES (RECOVERIES) (Tables)
 6 Months Ended
Dec. 31, 2024
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. 
Three Months Ended December 31,Six Months Ended December 31,
2024202320242023
Business Optimization Plan
$12,347 $— $54,850 $— 
Micro Focus Acquisition Restructuring Plan611 44,760 (1,016)51,624 
Other historical restructuring plans(540)(266)(833)(383)
Divestiture-related costs
49 5,385 4,209 6,982 
Acquisition-related costs(44)50 692 1,120 
Other charges
2,815 4,237 4,472 8,617 
Total$15,238 $54,166 $62,374 $67,960 
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 Condensed Consolidated Balance Sheets, for the six months ended December 31, 2024 is shown below.

Business Optimization Plan
Workforce reductionFacility chargesTotal
Balance payable as of June 30, 2024
$— $— $— 
Accruals and adjustments52,621 844 53,465 
Cash payments(35,368)(1)(35,369)
Foreign exchange and other non-cash adjustments(444)(379)(823)
Balance payable as of December 31, 2024
$16,809 $464 $17,273 
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 Condensed Consolidated Balance Sheets, for the six months ended December 31, 2024 is shown below.
Micro Focus Acquisition Restructuring PlanWorkforce reductionFacility chargesTotal
Balance payable as of June 30, 2024
$11,765 $16,326 $28,091 
Accruals and adjustments(1,047)1,400 353 
Cash payments(7,137)(2,832)(9,969)
Foreign exchange and other non-cash adjustments(54)(774)(828)
Balance payable as of December 31, 2024
$3,527 $14,120 $17,647 
v3.25.0.1
ACQUISITIONS AND DIVESTITURES (Tables)
 6 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Divestiture of AMC Business
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:
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 
v3.25.0.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 6 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
Three Months Ended December 31, 2024
Foreign Currency Translation Adjustments (1)
Cash Flow HedgesAvailable-for-Sale Financial AssetsDefined Benefit Pension PlansAccumulated Other Comprehensive Income (Loss)
Balance as of September 30, 2024
$(64,950)$308 $(126)$(9,688)$(74,456)
Other comprehensive income (loss) before reclassifications, net of tax1,167 (4,188)436 — (2,585)
Amounts reclassified into net income, net of tax— 1,010 — 252 1,262 
Total other comprehensive income (loss), net for the period
1,167 (3,178)436 252 (1,323)
Balance as of December 31, 2024
$(63,783)$(2,870)$310 $(9,436)$(75,779)
Six Months Ended December 31, 2024
Foreign Currency Translation Adjustments (1)
Cash Flow HedgesAvailable-for-Sale InvestmentsDefined Benefit Pension PlansAccumulated Other Comprehensive Income (Loss)
Balance as of June 30, 2024
$(59,760)$(608)$(374)$(8,877)$(69,619)
Other comprehensive income (loss) before reclassifications, net of tax(4,023)(3,534)684 (1,045)(7,918)
Amounts reclassified into net income, net of tax— 1,272 — 486 1,758 
Total other comprehensive income (loss), net for the period
(4,023)(2,262)684 (559)(6,160)
Balance as of December 31, 2024
$(63,783)$(2,870)$310 $(9,436)$(75,779)
______________________
(1)The amount of foreign currency translation recognized in other comprehensive income during the three and six months ended December 31, 2024 included net gains (losses) relating to our net investment hedge of $42.6 million and $16.5 million, respectively, as further discussed in Note 15 “Derivative Instruments and Hedging Activities.”
Three Months Ended December 31, 2023
Foreign Currency Translation Adjustments (1)
Cash Flow HedgesAvailable-for-Sale InvestmentsDefined Benefit Pension PlansAccumulated Other Comprehensive Income (Loss)
Balance as of September 30, 2023
$(58,697)$(708)$(823)$(9,797)$(70,025)
Other comprehensive income (loss) before reclassifications, net of tax(15,796)1,522 450 (91)(13,915)
Amounts reclassified into net income, net of tax— 328 — 113 441 
Total other comprehensive income (loss), net for the period
(15,796)1,850 450 22 (13,474)
Balance as of December 31, 2023
$(74,493)$1,142 $(373)$(9,775)$(83,499)
Six Months Ended December 31, 2023
Foreign Currency Translation Adjustments (1)
Cash Flow HedgesAvailable-for-Sale InvestmentsDefined Benefit Pension PlansAccumulated Other Comprehensive Income (Loss)
Balance as of June 30, 2023
$(44,114)$1,124 $(602)$(9,967)$(53,559)
Other comprehensive income (loss) before reclassifications, net of tax(30,379)(319)229 (110)(30,579)
Amounts reclassified into net income, net of tax— 337 — 302 639 
Total other comprehensive income (loss), net for the period
(30,379)18 229 192 (29,940)
Balance as of December 31, 2023
$(74,493)$1,142 $(373)$(9,775)$(83,499)
______________________
(1)The amount of foreign currency translation recognized in other comprehensive income during the three and six months ended December 31, 2023 included net gains (losses) relating to our net investment hedge of $(43.1) million and $(26.0) million, respectively, as further discussed in Note 15 “Derivative Instruments and Hedging Activities.”
v3.25.0.1
SUPPLEMENTAL CASH FLOW DISCLOSURES (Tables)
 6 Months Ended
Dec. 31, 2024
Supplemental Cash Flow Information [Abstract]  
Schedule of Supplemental Disclosure of Cash Flow Information
 Six Months Ended December 31,
20242023
Cash paid during the period for interest$183,698 $286,471 
Cash received during the period for interest24,563 19,092 
Cash paid during the period for income taxes 299,404 143,645 
v3.25.0.1
OTHER INCOME (EXPENSE), NET (Tables)
 6 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
Schedule of Other Income (Expense), Net
Three Months Ended December 31,Six Months Ended December 31,
2024202320242023
Foreign exchange gains (losses)
$25,539 $(19,624)$14,160 $(8,190)
Unrealized gains (losses) on derivatives
not designated as hedges (1)
45,549 (38,117)20,614 (20,222)
OpenText share in net income (loss) of equity investees (2)
1,538 (8,482)1,993 (18,178)
Adjustment to gain on AMC Divestiture (3)
(4,175)— (4,175)— 
Other miscellaneous income (expense)
164 (2,561)368 (2,024)
Total other income (expense), net
$68,615 $(68,784)$32,960 $(48,614)
______________________
(1)Represents the unrealized gains (losses) on our derivatives not designated as hedges related to the Micro Focus Acquisition (see Note 15 “Derivative Instruments and Hedging Activities” for more details).
(2)Represents our share in net income (loss) 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 7 “Prepaid Expenses and Other Assets” for more details).
(3)Represents final settlement of working capital and other adjustments (see Note 17 “Acquisitions and Divestitures” for more details).
v3.25.0.1
EARNINGS PER SHARE (Tables)
 6 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Basic Earnings (Loss) Per Share
 Three Months Ended December 31,Six Months Ended December 31,
 2024202320242023
Basic earnings per share
Net income attributable to OpenText$229,862 $37,675 $314,230 $118,576 
Basic earnings per share attributable to OpenText$0.87 $0.14 $1.18 $0.44 
Diluted earnings per share
Net income attributable to OpenText$229,862 $37,675 $314,230 $118,576 
Diluted earnings per share attributable to OpenText$0.87 $0.14 $1.18 $0.44 
Weighted-average number of shares outstanding
(in ‘000’s)
Basic265,099 271,568 266,252 271,373 
Effect of dilutive securities94 573 253 646 
Diluted265,193 272,141 266,505 272,019 
Excluded as anti-dilutive (1)
11,338 8,353 10,982 8,151 
______________________
(1)Represents options to purchase Common Shares excluded from the calculation of diluted earnings per share because the exercise price of the stock options was greater than or equal to the average price of the Common Shares during the period.
v3.25.0.1
BASIS OF PRESENTATION (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
May 01, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Noncontrolling Interest [Line Items]          
Research and development   $ (180,727) $ (212,855) $ (371,420) $ (439,086)
Sales and marketing   $ 273,929 287,628 $ 519,811 567,635
Revision of Prior Period, Reclassification, Adjustment          
Noncontrolling Interest [Line Items]          
Research and development     7,400   15,600
Sales and marketing     $ 7,400   $ 15,600
Disposal by sale | AMC Business          
Noncontrolling Interest [Line Items]          
Proceeds from sale of business $ 2,275,000        
OT South Africa          
Noncontrolling Interest [Line Items]          
Ownership by open text (as a percent)   70.00%   70.00%  
v3.25.0.1
REVENUES - Disaggregation of Revenue (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2024
USD ($)
revenue
Dec. 31, 2023
USD ($)
Revenue from Contract with Customer [Abstract]        
Number of revenue streams (in revenue streams) | revenue     4  
Disaggregation of Revenue [Line Items]        
Total revenues $ 1,334,500 $ 1,534,868 $ 2,603,505 $ 2,960,297
Point in time        
Disaggregation of Revenue [Line Items]        
Total revenues 188,923 289,238 314,736 462,264
Over time (including professional service and other revenue)        
Disaggregation of Revenue [Line Items]        
Total revenues 1,145,577 1,245,630 2,288,769 2,498,033
Total recurring revenues        
Disaggregation of Revenue [Line Items]        
Total revenues 1,052,901 1,145,853 2,105,415 2,294,580
Cloud services and subscriptions revenue        
Disaggregation of Revenue [Line Items]        
Total revenues 462,306 450,091 919,330 901,105
Customer support revenue        
Disaggregation of Revenue [Line Items]        
Total revenues 590,595 695,762 1,186,085 1,393,475
License revenue (perpetual, term and subscriptions)        
Disaggregation of Revenue [Line Items]        
Total revenues 188,923 289,238 314,736 462,264
Professional service and other revenue        
Disaggregation of Revenue [Line Items]        
Total revenues 92,676 99,777 183,354 203,453
Americas        
Disaggregation of Revenue [Line Items]        
Total revenues 765,857 884,287 1,494,100 1,729,514
EMEA        
Disaggregation of Revenue [Line Items]        
Total revenues 449,068 504,885 868,299 950,325
Asia Pacific        
Disaggregation of Revenue [Line Items]        
Total revenues $ 119,575 $ 145,696 $ 241,106 $ 280,458
v3.25.0.1
REVENUES - Schedule of Contract Balances (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]    
Short-term contract assets $ 68,487 $ 66,450
Long-term contract assets 39,208 38,684
Short-term deferred revenues 1,452,734 1,521,416
Long-term deferred revenues $ 159,987 $ 162,401
v3.25.0.1
REVENUES - Additional Information (Details) - USD ($)
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]        
Contract assets reclassified to receivables     $ 57,300,000 $ 58,500,000
Asset impairment $ 0 $ 0 0 0
Revenue recognized     1,131,000,000 1,268,000,000
Impairment loss $ 0 $ 0 $ 0 $ 0
v3.25.0.1
REVENUES - Incremental Costs of Obtaining a Contract with a Customer (Details)
$ in Thousands
 6 Months Ended
Dec. 31, 2024
USD ($)
Capitalized Contract Cost [Roll Forward]  
Capitalized costs to obtain a contract, beginning balance $ 109,488
New capitalized costs incurred 23,346
Amortization of capitalized costs (20,821)
Impact of foreign exchange rate changes (1,034)
Capitalized costs to obtain a contract, ending balance $ 110,979
v3.25.0.1
REVENUES - Remaining Performance Obligation (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Sep. 30, 2024
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     $ 4,000.0
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     $ 2,200.0
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     $ 1,800.0
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]: 2024-10-01      
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Remaining performance obligation   $ 3,900.0  
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]: 2024-10-01 | Cloud services and subscriptions      
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Remaining performance obligation   $ 2,200.0  
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]: 2024-10-01 | Customer support      
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Remaining performance obligation   $ 1,700.0  
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]: 2025-01-01      
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Remaining performance obligation $ 4,100.0    
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]: 2025-01-01 | Cloud services and subscriptions      
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Remaining performance obligation $ 2,300.0    
Expected timing of satisfaction, period 12 months    
Revenue, remaining performance obligation (as a percent) 50.00%    
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | Customer support      
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]      
Remaining performance obligation $ 1,800.0    
Expected timing of satisfaction, period 12 months    
Revenue, remaining performance obligation (as a percent) 79.00%    
v3.25.0.1
LEASES - Additional Information (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Lessee, Lease, Description [Line Items]  
Sublease income to be received remainder of fiscal year $ 6.9
Sublease income to be received thereafter $ 32.0
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
v3.25.0.1
LEASES - Schedule of Condensed Consolidated Balance Sheets Information Related to Leases (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Jun. 30, 2024
Operating Leases    
Operating lease right of use assets $ 211,079 $ 219,774
Operating lease liabilities (current) 74,699 76,446
Operating lease liabilities (non-current) 200,815 218,174
Total operating lease liabilities 275,514 294,620
Finance Leases    
Finance lease receivables (current) 2,548 4,031
Finance lease receivables (non-current) 1,378 2,329
Total finance lease receivables 3,926 6,360
Finance lease liabilities (current) 2,286 3,173
Finance lease liabilities (non-current) 1,377 2,327
Total finance lease liabilities $ 3,663 $ 5,500
v3.25.0.1
LEASES - Weighted Average Remaining Lease Term (Details)
Dec. 31, 2024
Jun. 30, 2024
Weighted-average remaining lease term    
Operating leases 4 years 9 months 14 days 5 years 1 month 17 days
Finance leases 1 year 6 months 25 days 1 year 10 months 6 days
Weighted-average discount rate    
Operating leases 5.03% 5.00%
Finance leases 5.39% 5.47%
v3.25.0.1
LEASES - Lease Costs and Other Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]        
Operating lease cost $ 20,643 $ 22,594 $ 41,748 $ 46,334
Short-term lease cost 639 737 978 1,892
Variable lease cost 836 1,321 1,891 2,456
Sublease income (2,692) (3,375) (5,466) (6,713)
Total lease cost $ 19,426 $ 21,277 $ 39,151 $ 43,969
v3.25.0.1
LEASES - Supplemental Cash Flow Information (Details) - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:    
Operating leases $ 52,044 $ 55,800
Finance leases 1,952 2,763
Right of use assets obtained in exchange for new lease liabilities:    
Operating leases $ 30,211 $ 9,219
v3.25.0.1
LEASES - Maturity of Lease Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Jun. 30, 2024
Operating Leases    
2025 (six months ended) $ 44,520  
2026 80,464  
2027 66,201  
2028 46,103  
2029 25,672  
Thereafter 44,454  
Total lease payments 307,414  
Less: Imputed interest (31,900)  
Total 275,514 $ 294,620
Finance Leases    
2025 (six months ended) 1,415  
2026 1,937  
2027 459  
2028 0  
2029 0  
Thereafter 0  
Total lease payments 3,811  
Less: Imputed interest (148)  
Total $ 3,663 $ 5,500
v3.25.0.1
GOODWILL (Details)
$ in Thousands
 6 Months Ended
Dec. 31, 2024
USD ($)
Goodwill [Roll Forward]  
Beginning balance $ 7,488,367
Acquisition of Pillr 196
Divestiture of AMC business 1,390
Impact of foreign exchange rate changes (6,549)
Ending balance $ 7,483,404
v3.25.0.1
ACQUIRED INTANGIBLE ASSETS - Calculation of Acquired Intangibles by Asset Class (Details) - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2024
Jun. 30, 2024
Finite-Lived Intangible Assets, Net [Abstract]    
Cost $ 3,785,036 $ 3,915,828
Accumulated Amortization (1,555,949) (1,429,564)
Total 2,229,087 2,486,264
Technology assets    
Finite-Lived Intangible Assets, Net [Abstract]    
Cost 1,142,284 1,153,457
Accumulated Amortization (425,810) (342,528)
Total 716,474 810,929
Reduction to technology assets $ 11,000  
Weighted-average amortization period for acquired intangible assets (in years) 6 years  
Customer assets    
Finite-Lived Intangible Assets, Net [Abstract]    
Cost $ 2,642,752 2,762,371
Accumulated Amortization (1,130,139) (1,087,036)
Total 1,512,613 $ 1,675,335
Reduction to technology assets $ 118,000  
Weighted-average amortization period for acquired intangible assets (in years) 9 years  
v3.25.0.1
ACQUIRED INTANGIBLE ASSETS - Calculation of Estimated Future Amortization Expense (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
2025 (six months ended) $ 253,787  
2026 467,267  
2027 396,816  
2028 379,434  
2029 282,748  
2030 and Thereafter 449,035  
Total $ 2,229,087 $ 2,486,264
v3.25.0.1
PREPAID EXPENSES AND OTHER ASSETS - Schedule of Components of Prepaid Expenses and Other Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Jun. 30, 2024
Prepaid expenses and other current assets:    
Deposits and restricted cash $ 1,616 $ 4,142
Capitalized costs to obtain a contract 39,166 44,577
Short-term prepaid expenses and other current assets 143,937 192,065
Derivative asset 2,044 2,127
Total 186,763 242,911
Other assets:    
Deposits and restricted cash 22,211 20,063
Capitalized costs to obtain a contract 71,813 64,911
Investments 119,919 124,168
Available-for-sale financial assets 40,012 40,541
Long-term prepaid expenses and other long-term assets 42,427 48,598
Total $ 296,382 $ 298,281
v3.25.0.1
PREPAID EXPENSES AND OTHER ASSETS - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]        
OpenText share in net income of equity investees $ 1,538 $ (8,482) $ 1,993 $ (18,178)
Limited Partner Investments | Minimum        
Schedule of Equity Method Investments [Line Items]        
Ownership by noncontrolling owners (as a percent) 4.00%   4.00%  
Limited Partner Investments | Maximum        
Schedule of Equity Method Investments [Line Items]        
Ownership by noncontrolling owners (as a percent) 20.00%   20.00%  
v3.25.0.1
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES - Schedule of Current Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Jun. 30, 2024
Accounts Payable and Accrued Liabilities [Abstract]    
Accounts payable—trade $ 128,432 $ 151,202
Accrued salaries, incentives and commissions 199,362 267,991
Accrued liabilities 216,585 262,190
Accrued sales and other tax liabilities 29,342 21,167
Derivative liability 125,221 159,234
Accrued interest on long-term debt 37,729 38,670
Amounts payable in respect of restructuring and other special charges 30,024 22,489
Asset retirement obligations 5,946 8,173
Total $ 772,641 $ 931,116
v3.25.0.1
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES - Schedule of Long-Term Accrued Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Jun. 30, 2024
Accounts Payable and Accrued Liabilities [Abstract]    
Amounts payable in respect of restructuring and other special charges $ 7,923 $ 9,682
Other accrued liabilities 8,184 15,390
Asset retirement obligations 22,867 21,411
Total $ 38,974 $ 46,483
v3.25.0.1
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Jun. 30, 2024
Accounts Payable and Accrued Liabilities [Abstract]    
Present value $ 28.8 $ 29.6
Undiscounted value $ 31.5 $ 32.8
v3.25.0.1
LONG-TERM DEBT - Schedule of Long-Term Debt (Details) - USD ($)
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Jun. 30, 2024
Debt Instrument [Line Items]          
Total principal payments due $ 6,503,300,000   $ 6,503,300,000   $ 6,521,225,000
Unamortized debt discount and issuance costs (118,636,000)   (118,636,000)   (128,432,000)
Total amount outstanding 6,384,664,000   6,384,664,000   6,392,793,000
Less:          
Current portion of long-term debt 35,850,000   35,850,000   35,850,000
Non-current portion of long-term debt 6,348,814,000   6,348,814,000   6,356,943,000
Debt issuance costs     1,066,000 $ 2,792,000  
Senior Notes | Senior Notes 2031          
Debt Instrument [Line Items]          
Total principal payments due 650,000,000   650,000,000   650,000,000
Senior Notes | Senior Notes 2030          
Debt Instrument [Line Items]          
Total principal payments due 900,000,000   900,000,000   900,000,000
Senior Notes | Senior Notes 2029          
Debt Instrument [Line Items]          
Total principal payments due 850,000,000   850,000,000   850,000,000
Senior Notes | Senior Notes 2028          
Debt Instrument [Line Items]          
Total principal payments due 900,000,000   900,000,000   900,000,000
Senior Notes | Senior Secured Notes 2027          
Debt Instrument [Line Items]          
Total principal payments due 1,000,000,000   1,000,000,000   1,000,000,000
Line of credit | Revolving Credit Facility          
Debt Instrument [Line Items]          
Total principal payments due 0   0   0
Line of credit | Acquisition Term Loan | Secured debt          
Debt Instrument [Line Items]          
Total principal payments due 2,203,300,000   2,203,300,000   2,221,225,000
Less:          
Current portion of long-term debt 35,850,000   35,850,000   $ 35,850,000
Debt issuance costs $ 1,000,000.0   $ 1,000,000.0    
Line of credit | Acquisition Term Loan and Revolver | Secured debt          
Less:          
Debt issuance costs   $ 800,000   $ 2,400,000  
v3.25.0.1
LONG-TERM DEBT - Additional Information (Details)
 3 Months Ended 6 Months Ended
Nov. 27, 2024
May 15, 2024
May 06, 2024
USD ($)
Jan. 22, 2024
USD ($)
Dec. 19, 2023
Oct. 20, 2023
USD ($)
Aug. 14, 2023
Dec. 01, 2022
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Jun. 30, 2024
USD ($)
Aug. 25, 2022
USD ($)
Nov. 24, 2021
USD ($)
Feb. 18, 2020
USD ($)
May 30, 2018
USD ($)
Jan. 16, 2014
USD ($)
Debt Instrument [Line Items]                                    
Amortization of debt discount and issuance costs                     $ 10,795,000 $ 12,821,000            
Total principal payments due                 $ 6,503,300,000   6,503,300,000   $ 6,521,225,000          
Line of credit | Revolving Credit Facility                                    
Debt Instrument [Line Items]                                    
Interest expense                 0 $ 200,000 0 2,200,000            
Total principal payments due                 $ 0   $ 0   0          
Leverage ratio, compliance maximum         4.50       2.45   2.45              
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                 $ 6,700,000 6,700,000 $ 13,400,000 13,400,000            
Total principal payments due                 650,000,000   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                 9,300,000 9,300,000 18,600,000 18,600,000            
Total principal payments due                 900,000,000   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                 8,200,000 8,200,000 16,400,000 16,400,000            
Total principal payments due                 850,000,000   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                 8,700,000 8,700,000 17,400,000 17,400,000            
Total principal payments due                 900,000,000   900,000,000   900,000,000          
Senior Secured Notes 2027 | Senior Notes                                    
Debt Instrument [Line Items]                                    
Debt instrument face amount               $ 1,000,000,000                    
Debt instrument interest rate (as a percent)               6.90%                    
Interest expense                 $ 17,300,000 17,300,000 $ 34,600,000 34,600,000            
Effective interest rate (as a percent)                 7.39%   7.39%              
Amortization of debt discount and issuance costs                     $ 1,400,000              
Total principal payments due                 $ 1,000,000,000   1,000,000,000   1,000,000,000          
Term Loan B                                    
Debt Instrument [Line Items]                                    
Debt instrument face amount                                 $ 1,000,000,000 $ 800,000,000
Interest expense                 0 17,300,000 0 34,500,000            
Term Loan B | Line of credit | Secured debt                                    
Debt Instrument [Line Items]                                    
Repayment of line of credit     $ 940,000,000                              
Total principal payments due     0                              
Acquisition Term Loan                                    
Debt Instrument [Line Items]                                    
Interest expense                     81,100,000              
Amortization of debt discount and issuance costs                     7,200,000              
Acquisition Term Loan | Line of credit                                    
Debt Instrument [Line Items]                                    
Interest expense                 $ 38,200,000 $ 73,100,000 $ 81,100,000 $ 150,300,000            
Acquisition Term Loan | Line of credit | Secured debt                                    
Debt Instrument [Line Items]                                    
Debt instrument face amount               $ 3,585,000,000           $ 2,585,000,000        
Debt instrument interest rate (as a percent)               1.75% 6.32%   6.32%              
Effective interest rate (as a percent)                 7.38%   7.38%              
Repayment of line of credit     $ 1,060,000,000.00 $ 175,000,000   $ 75,000,000                        
Total principal payments due                 $ 2,203,300,000   $ 2,203,300,000   $ 2,221,225,000          
Interest addition to floating rate (as a percent)   0.10%                                
Leverage ratio, compliance maximum               2.75 2.45   2.45              
Reduction of applicable interest rate margin 0.50% 0.50%         0.75%                      
Debt term (in years)               7 years                    
Term loan quarterly repayment as percentage of principal (as a percent)               0.25%                    
Credit agreement, maximum capacity               $ 250,000,000                    
Acquisition Term Loan | Line of credit | Secured debt | Maximum                                    
Debt Instrument [Line Items]                                    
Leverage ratio               4.50                    
v3.25.0.1
PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Additional Information (Details)
Dec. 31, 2024
plan
Retirement Benefits [Abstract]  
Number of pension and postretirement plans (in plans) 48
Geographic concentration percentage of pension obligations 56.00%
v3.25.0.1
PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Components of Net Pension Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]        
Net pension expense     $ 6,813 $ 6,383
Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Service cost $ 2,714 $ 2,828 5,542 5,553
Interest cost 3,148 3,122 6,485 6,211
Expected return of plan assets (2,842) (2,903) (5,871) (5,711)
Amortization of actuarial (gains) losses 330 165 657 330
Net pension expense $ 3,350 $ 3,212 $ 6,813 $ 6,383
v3.25.0.1
EQUITY AND SHARE-BASED COMPENSATION - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Jul. 31, 2024
Apr. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Dividends declared per common share (in dollars per share)     $ 0.2625 $ 0.25 $ 0.525 $ 0.50
Payments of dividends     $ 68,300 $ 66,400 $ 137,374 $ 133,379
Preference shares issued (in shares)     0   0  
Purchase of treasury stock (in shares)     1,362,721 0 2,187,135 1,400,000
Purchase of treasury stock     $ 40,000 $ 0 $ 65,023 $ 53,085
Issuance of treasury stock (in shares)     1,036,378 353,247 1,097,265 536,560
Stock repurchased and retired (in shares)     2,212,971 0 4,862,102 0
Stock repurchased and retired     $ 67,100   $ 153,600  
Long Term Incentive Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Award vesting period (in years)         3 years  
2024 Share Repurchase Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Stock repurchase plan, period in force   12 months        
Stock repurchase plan, authorized amount   $ 250,000        
2025 Share Repurchase Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Stock repurchase plan, period in force 12 months          
Stock repurchase plan, authorized amount $ 300,000          
Employee Stock Purchase Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Awards purchase price discount (as a percent)         15.00%  
Common shares eligible for issuance (in shares)     213,432 186,974 602,734 473,746
Cash received from employee stock purchase plan     $ 6,000 $ 6,700 $ 15,900 $ 15,300
Stock Options (issued under Stock Option Plans)            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Common shares available for issuance (in shares)     4,329,456   4,329,456  
PSUs | Long Term Incentive Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Award vesting period (in years)         3 years  
Restricted Share Units (issued under LTIP) | Long Term Incentive Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Award vesting period (in years)         3 years  
Restricted Share Units (issued under LTIP) | Other plans | Minimum            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Award vesting period (in years)         2 years  
Restricted Share Units (issued under LTIP) | Other plans | Maximum            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Award vesting period (in years)         4 years  
v3.25.0.1
EQUITY AND SHARE-BASED COMPENSATION - Schedule of Share-Based Compensation (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total share-based compensation expense $ 30,361 $ 40,175 $ 59,919 $ 77,270
Stock Options (issued under Stock Option Plans)        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total share-based compensation expense 3,841 5,716 6,577 10,260
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 5,510 6,928 12,698 12,817
Restricted Share Units | Long Term Incentive Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total share-based compensation expense 4,546 3,034 8,313 5,915
Restricted Share Units | Other plans        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total share-based compensation expense 13,436 22,299 26,721 43,671
Deferred Share Units (directors)        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total share-based compensation expense 1,387 688 2,232 1,602
Employee Stock Purchase Plan        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Total share-based compensation expense $ 1,641 $ 1,510 $ 3,378 $ 3,005
v3.25.0.1
EQUITY AND SHARE-BASED COMPENSATION - Unrecognized Compensation Cost (Details)
 6 Months Ended
Dec. 31, 2024
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unrecognized Compensation Cost $ 179,687,000
Stock Options (issued under Stock Option Plans)  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unrecognized Compensation Cost $ 41,054,000
Weighted Average Recognition Period (years) 2 years 5 months 12 days
Performance Share Units (issued under LTIP) | Long Term Incentive Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unrecognized Compensation Cost $ 59,345,000
Weighted Average Recognition Period (years) 2 years 2 months 4 days
Restricted Share Units | Long Term Incentive Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unrecognized Compensation Cost $ 23,932,000
Weighted Average Recognition Period (years) 1 year 7 months 2 days
Restricted Share Units | Other plans  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unrecognized Compensation Cost $ 55,356,000
Weighted Average Recognition Period (years) 1 year 9 months 21 days
v3.25.0.1
EQUITY AND SHARE-BASED COMPENSATION - Schedule of Outstanding Stock Options Activity (Details)
$ / shares in Units, $ in Thousands
 6 Months Ended 12 Months Ended
Dec. 31, 2024
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 1,890,920  
Exercised (in shares) | shares (70,125)  
Forfeited or expired (in shares) | shares (1,201,609)  
Outstanding at end of period (in shares) | shares 12,826,598 12,207,412
Exercisable ending balance (in shares) | shares 5,477,855  
Weighted-Average  Exercise Price    
Outstanding at beginning of period (in dollars per share) | $ / shares $ 38.51  
Granted (in dollars per share) | $ / shares 28.75  
Exercised (in dollars per share) | $ / shares 26.81  
Forfeited or expired (in dollars per share) | $ / shares 37.63  
Outstanding at end of period (in dollars per share) | $ / shares 37.21 $ 38.51
Exercisable at end of period (in dollars per share) | $ / shares $ 40.49  
Weighted- Average Remaining Contractual  Term (years)    
Outstanding (in years) 4 years 3 months 3 days 4 years 3 months 21 days
Exercisable (in years) 3 years 3 days  
Aggregate  Intrinsic Value ($’000's)    
Outstanding | $ $ 1,376 $ 6,142
Exercisable | $ $ 476  
v3.25.0.1
EQUITY AND SHARE-BASED COMPENSATION - Schedule of Weighted-Average Fair Value Of Options And Weighted-Average Assumptions Used (Details) - $ / shares
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Stock Options        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Weighted-average fair value of options granted (in dollars per share) $ 6.43 $ 10.34 $ 5.89 $ 9.57
Weighted-average assumptions used:        
Expected volatility 28.98% 31.33% 28.66% 31.07%
Risk–free interest rate 4.14% 4.40% 3.74% 4.42%
Expected dividend yield 3.42% 2.44% 3.49% 2.58%
Expected life (in years) 4 years 3 months 25 days 4 years 3 months 7 days 4 years 3 months 21 days 4 years 3 months
Forfeiture rate (based on historical rates) 7.00% 7.00% 7.00% 7.00%
Average exercised share price (in dollars per share) $ 29.97 $ 40.14 $ 28.75 $ 37.96
PSUs        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Weighted-average fair value of options granted (in dollars per share)     $ 47.96 $ 59.48
Weighted-average assumptions used:        
Expected volatility     30.26% 28.05%
Risk–free interest rate     3.67% 4.38%
Expected dividend yield     0.00% 0.00%
Expected life (in years)     3 years 1 month 9 days 3 years 1 month 6 days
v3.25.0.1
EQUITY AND SHARE-BASED COMPENSATION - Non Option Unit Activity (Details) - USD ($)
$ / shares in Units, $ in Thousands
 6 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Jun. 30, 2024
Long Term Incentive Plan      
Weighted-Average Grant Date Fair Value      
Award vesting period (in years) 3 years    
PSUs      
Weighted-Average Grant Date Fair Value      
Weighted-average fair value of options granted (in dollars per share) $ 47.96 $ 59.48  
PSUs | Long Term Incentive Plan      
Units      
Beginning balance (in shares) 1,605,116    
Granted (in shares) 904,116    
Vested (in shares) (257,611)    
Forfeited or expired (in shares) (154,169)    
Ending balance (in shares) 2,097,452   1,605,116
Weighted-Average Grant Date Fair Value      
Beginning balance (in dollars per share) $ 56.09    
Granted (in dollars per share) 47.21    
Vested (in dollars per share) 75.14    
Forfeited or expired (in dollars per share) 53.11    
Ending balance (in dollars per share) $ 48.15   $ 56.09
Weighted- Average Remaining Contractual Term (years) 2 years 1 month 17 days   1 year 8 months 12 days
Aggregate Intrinsic Value ($’000's) $ 56,259   $ 48,218
Award vesting period (in years) 3 years    
Unvested grants in period (in shares) 2,097,452   1,605,116
PSUs | Long Term Incentive Plan | Minimum      
Weighted-Average Grant Date Fair Value      
Performance target (as a percent) 0.00%    
PSUs | Long Term Incentive Plan | Maximum      
Weighted-Average Grant Date Fair Value      
Performance target (as a percent) 200.00%    
Restricted Share Units | Long Term Incentive Plan      
Units      
Beginning balance (in shares) 956,325    
Granted (in shares) 650,780    
Vested (in shares) (170,370)    
Forfeited or expired (in shares) (76,426)    
Ending balance (in shares) 1,360,309   956,325
Weighted-Average Grant Date Fair Value      
Beginning balance (in dollars per share) $ 39.61    
Granted (in dollars per share) 28.57    
Vested (in dollars per share) 49.92    
Forfeited or expired (in dollars per share) 36.14    
Ending balance (in dollars per share) $ 33.25   $ 39.61
Weighted- Average Remaining Contractual Term (years) 2 years 2 months 12 days   1 year 9 months 7 days
Aggregate Intrinsic Value ($’000's) $ 38,523   $ 28,728
Award vesting period (in years) 3 years    
Unvested grants in period (in shares) 1,360,309   956,325
Restricted Share Units | Other plans      
Units      
Beginning balance (in shares) 4,555,955    
Granted (in shares) 887,393    
Vested (in shares) (746,565)    
Forfeited or expired (in shares) (215,306)    
Ending balance (in shares) 4,481,477   4,555,955
Weighted-Average Grant Date Fair Value      
Beginning balance (in dollars per share) $ 35.87    
Granted (in dollars per share) 27.37    
Vested (in dollars per share) 28.89    
Forfeited or expired (in dollars per share) 37.26    
Ending balance (in dollars per share) $ 35.28   $ 35.87
Weighted- Average Remaining Contractual Term (years) 1 year 8 months 4 days   1 year 9 months 14 days
Aggregate Intrinsic Value ($’000's) $ 126,915   $ 136,861
Unvested grants in period (in shares) 4,481,477   4,555,955
Restricted Share Units | Other plans | Minimum      
Weighted-Average Grant Date Fair Value      
Award vesting period (in years) 2 years    
Restricted Share Units | Other plans | Maximum      
Weighted-Average Grant Date Fair Value      
Award vesting period (in years) 4 years    
Deferred Share Units (DSUs)      
Units      
Beginning balance (in shares) 1,082,471    
Granted (in shares) 95,733    
Ending balance (in shares) 1,178,204   1,082,471
Weighted-Average Grant Date Fair Value      
Beginning balance (in dollars per share) $ 30.67    
Granted (in dollars per share) 32.00    
Ending balance (in dollars per share) $ 30.78   $ 30.67
Weighted- Average Remaining Contractual Term (years) 10 months 2 days   5 months 1 day
Aggregate Intrinsic Value ($’000's) $ 33,374   $ 32,517
Unvested grants in period (in shares) 1,178,204   1,082,471
Deferred Share Units (DSUs) | Deferred Share Unit Plan      
Units      
Beginning balance (in shares) 47,871    
Ending balance (in shares) 62,177   47,871
Weighted-Average Grant Date Fair Value      
Unvested grants in period (in shares) 62,177   47,871
v3.25.0.1
GUARANTEES AND CONTINGENCIES - Schedule of Contractual Obligations with Minimum Payments (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Long term debt obligations  
Total $ 8,079,195
January 1, 2025 - June 30, 2025 188,196
July 1, 2025 - June 30, 2027 749,368
July 1, 2027 - June 30, 2029 2,502,169
July 1, 2029 and beyond 4,639,462
Purchase obligations for contracts not accounted for as lease obligations  
Total 260,899
January 1, 2025 - June 30, 2025 100,949
July 1, 2025 - June 30, 2027 159,950
July 1, 2027 - June 30, 2029 0
July 1, 2029 and beyond 0
Total payments due  
Total 8,340,094
January 1, 2025 - June 30, 2025 289,145
July 1, 2025 - June 30, 2027 909,318
July 1, 2027 - June 30, 2029 2,502,169
July 1, 2029 and beyond $ 4,639,462
v3.25.0.1
GUARANTEES AND CONTINGENCIES - Additional Information (Details) - Canada Revenue Agency (CRA)
$ in Millions
 6 Months Ended
Dec. 31, 2024
USD ($)
Loss Contingencies [Line Items]  
Estimated amount of loss resulting from an adverse tax position $ 78.6
Income taxes paid $ 32.0
Tax Year 2016  
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 2015  
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 2012  
Loss Contingencies [Line Items]  
Additional tax expense, (as a percent) 10.00%
Tax Years 2017, 2018, 2019, and 2020  
Loss Contingencies [Line Items]  
Estimated amount of loss resulting from an adverse tax position $ 470.0
Minimum | Tax Year 2016  
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 2015  
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 2012  
Loss Contingencies [Line Items]  
Income tax examination, estimate of increase to taxable income 90.0
Maximum | Tax Year 2016  
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 2015  
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 2012  
Loss Contingencies [Line Items]  
Income tax examination, estimate of increase to taxable income $ 100.0
v3.25.0.1
INCOME TAXES (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Sep. 19, 2024
Jun. 30, 2024
Income Tax Contingency [Line Items]            
Effective income tax rate (as a percent) 18.10% 17.60% 14.40% 13.40%    
Effective canadian statutory income tax rate (as a percent) 26.50%   26.50%      
Unrecognized tax benefits $ 148.6   $ 148.6     $ 180.4
Interest and penalties accrued 19.1   19.1     24.3
Possible decrease in tax expense in next 12 months 28.6   28.6      
Provision for deferred income tax liabilities $ 16.8   $ 16.8     $ 15.9
Pending Litigation            
Income Tax Contingency [Line Items]            
Refund receivable         $ 43.8  
v3.25.0.1
FAIR VALUE MEASUREMENT - Schedule of Fair Value of the Company’s Financial Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Jun. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale financial assets (Note 7) $ 40,012 $ 40,541
Derivative asset (Note 15) 2,044 2,127
Liability $ (125,221) $ (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 (Note 7) $ 15,483 $ 15,603
Derivative asset (Note 15) 2,044 2,127
Liability (125,221) (159,234)
Recurring | Level 2 | Senior Notes    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Liability (4,046,675) (4,006,771)
Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Available-for-sale financial assets (Note 7) $ 24,529 $ 24,938
v3.25.0.1
FAIR VALUE MEASUREMENT - Reconciliation of Changes in Fair Value of Level 3 Investments (Details) - Available-for-sale financial assets - Level 3 - Recurring - Derivatives not designated as hedges
$ in Thousands
 6 Months Ended
Dec. 31, 2024
USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Beginning balance $ 24,938
Loss recognized in income (409)
Ending balance $ 24,529
v3.25.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Additional Information (Details)
€ in Millions, £ in Millions, $ in Millions
 1 Months Ended 6 Months Ended
Aug. 31, 2022
GBP (£)
derivative
Dec. 31, 2024
USD ($)
Jan. 07, 2025
EUR (€)
Jun. 30, 2024
USD ($)
Mar. 31, 2023
EUR (€)
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 | $   $ 94.4   $ 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           € 690
Contract maturity (in months) 5 years          
5 Year EUR to USD Market Hedge | Micro Focus | Derivatives not designated as hedges | Subsequent event            
Derivative [Line Items]            
Notional amount of forward contracts held to sell U.S. dollars in exchange for Canadian dollars     € 138      
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 | Designated as hedging instrument            
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          
v3.25.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Fair Value in the Condensed Consolidated Balance Sheets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Jun. 30, 2024
Derivatives, Fair Value [Line Items]    
Asset $ 2,044 $ 2,127
Liability $ (125,221) $ (159,234)
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Prepaid expenses and other current assets (Note 7) Prepaid expenses and other current assets (Note 7)
Designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Asset $ 610 $ 654
Liability (75,615) (89,014)
Derivatives not designated as hedges:    
Derivatives, Fair Value [Line Items]    
Asset 1,434 1,473
Liability (49,606) (70,220)
Derivatives not designated as hedges: | Currency swap    
Derivatives, Fair Value [Line Items]    
Asset 1,434 1,473
Liability (49,606) (70,220)
Cash flow hedge | Designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Asset 0 0
Liability (3,905) (828)
Net investment hedge | Designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Asset 610 654
Liability $ (71,710) $ (88,186)
v3.25.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Fair Value in the Condensed Consolidated Statements of Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Derivatives, Fair Value [Line Items]        
Total $ 46,325 $ (36,840) $ 22,442 $ (17,179)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]     Interest and other related expense, net Interest and other related expense, net
Currency swap        
Derivatives, Fair Value [Line Items]        
Gain (loss) or derivatives not designated as hedging instruments, net 1,031 830 $ 1,712 $ 1,686
Currency swap | Other income (expense), net        
Derivatives, Fair Value [Line Items]        
Gain (loss) or derivatives not designated as hedging instruments, net 45,549 (38,117) 20,614 (20,222)
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 (1,374) (446) (1,730) (458)
Net investment hedge | Derivatives designated as hedges:        
Derivatives, Fair Value [Line Items]        
Gain (loss) reclassified from AOCI into income (effective portion) - cash flow hedge $ 1,119 $ 893 $ 1,846 $ 1,815
v3.25.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Effects of the Cash Flow and Net Investment Hedges (Details) - Designated as hedging instrument - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Cash flow hedge | Operating expenses        
Derivatives, Fair Value [Line Items]        
Gain (loss) reclassified from AOCI into income (effective portion) - cash flow hedge $ (1,374) $ (446) $ (1,730) $ (458)
Cash flow hedge | Unrealized gain (loss) on cash flow hedge        
Derivatives, Fair Value [Line Items]        
Gain (loss) recognized in OCI (loss) on cash flow and net investment hedge (effective portion) (5,698) 2,071 (4,808) (434)
Cash flow hedge | Net foreign currency translation adjustment        
Derivatives, Fair Value [Line Items]        
Gain (loss) recognized in OCI (loss) on cash flow and net investment hedge (effective portion) 42,600 (43,100) 16,500 (26,000)
Net investment hedge        
Derivatives, Fair Value [Line Items]        
Gain (loss) reclassified from AOCI into income (effective portion) - cash flow hedge 1,119 893 1,846 1,815
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 561 561 1,122 1,122
Net investment hedge | Net foreign currency translation adjustment        
Derivatives, Fair Value [Line Items]        
Gain (loss) recognized in OCI (loss) on cash flow and net investment hedge (effective portion) $ 42,553 $ (43,122) $ 16,476 $ (26,015)
v3.25.0.1
SPECIAL CHARGES (RECOVERIES) - Schedule of Special Charges Related to Restructuring Plan (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]        
Divestiture-related costs $ 49 $ 5,385 $ 4,209 $ 6,982
Acquisition-related costs (44) 50 692 1,120
Other charges 2,815 4,237 4,472 8,617
Total 15,238 54,166 62,374 67,960
Business Optimization Plan        
Restructuring Cost and Reserve [Line Items]        
Special charges 12,347 0 54,850 0
Micro Focus Acquisition Restructuring Plan        
Restructuring Cost and Reserve [Line Items]        
Special charges 611 44,760 (1,016) 51,624
Other historical restructuring plans        
Restructuring Cost and Reserve [Line Items]        
Special charges $ (540) $ (266) $ (833) $ (383)
v3.25.0.1
SPECIAL CHARGES (RECOVERIES) - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]        
Other charges $ 2,815 $ 4,237 $ 4,472 $ 8,617
Miscellaneous other charges        
Restructuring Cost and Reserve [Line Items]        
Other charges 2,800   4,400  
Zix Corporation | Pre-acquisition equity incentives        
Restructuring Cost and Reserve [Line Items]        
Other charges   500   900
Business Optimization Plan        
Restructuring Cost and Reserve [Line Items]        
Expected cost 60,000   60,000  
Special charges recorded to date 54,900   54,900  
Micro Focus Acquisition Restructuring Plan        
Restructuring Cost and Reserve [Line Items]        
Special charges recorded to date $ 145,500   $ 145,500  
Micro Focus Acquisition Restructuring Plan | Micro Focus | Miscellaneous other charges        
Restructuring Cost and Reserve [Line Items]        
Other charges   1,300   2,400
Micro Focus Acquisition Restructuring Plan | Micro Focus | Compensation related charges        
Restructuring Cost and Reserve [Line Items]        
Other charges   $ 2,500   $ 5,400
v3.25.0.1
SPECIAL CHARGES (RECOVERIES) - Schedule of Restructuring Reserve (Details)
$ in Thousands
 6 Months Ended
Dec. 31, 2024
USD ($)
Business Optimization Plan  
Restructuring Reserve [Roll Forward]  
Balance, beginning $ 0
Accruals and adjustments 53,465
Cash payments (35,369)
Foreign exchange and other non-cash adjustments (823)
Balance, ending 17,273
Business Optimization Plan | Workforce reduction  
Restructuring Reserve [Roll Forward]  
Balance, beginning 0
Accruals and adjustments 52,621
Cash payments (35,368)
Foreign exchange and other non-cash adjustments (444)
Balance, ending 16,809
Business Optimization Plan | Facility charges  
Restructuring Reserve [Roll Forward]  
Balance, beginning 0
Accruals and adjustments 844
Cash payments (1)
Foreign exchange and other non-cash adjustments (379)
Balance, ending 464
Micro Focus Acquisition Restructuring Plan  
Restructuring Reserve [Roll Forward]  
Balance, beginning 28,091
Accruals and adjustments 353
Cash payments (9,969)
Foreign exchange and other non-cash adjustments (828)
Balance, ending 17,647
Micro Focus Acquisition Restructuring Plan | Workforce reduction  
Restructuring Reserve [Roll Forward]  
Balance, beginning 11,765
Accruals and adjustments 1,047
Cash payments (7,137)
Foreign exchange and other non-cash adjustments (54)
Balance, ending 3,527
Micro Focus Acquisition Restructuring Plan | Facility charges  
Restructuring Reserve [Roll Forward]  
Balance, beginning 16,326
Accruals and adjustments 1,400
Cash payments (2,832)
Foreign exchange and other non-cash adjustments (774)
Balance, ending $ 14,120
v3.25.0.1
ACQUISITIONS AND DIVESTITURES - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
May 01, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Jun. 30, 2024
Business Acquisition [Line Items]            
Adjustment to proceeds from sale of business       $ 11,686 $ 0  
Gain on sale   $ (4,175) $ 0 (4,175) $ 0  
Disposal by sale | AMC Business            
Business Acquisition [Line Items]            
Proceeds from sale of business $ 2,275,000          
Adjustment to proceeds from sale of business   11,700        
Gain on sale   (4,200)       $ 429,100
Transition services period 24 months          
Transition services receivable   $ 12,700   $ 27,200    
v3.25.0.1
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
v3.25.0.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Beginning balance $ 4,136,887 $ 4,014,258 $ 4,199,681 $ 4,022,104
Other comprehensive income (loss) before reclassifications, net of tax (2,585) (13,915) (7,918) (30,579)
Amounts reclassified into net income, net of tax 1,262 441 1,758 639
Total other comprehensive income (loss), net for the period (1,323) (13,474) (6,160) (29,940)
Ending balance 4,231,507 4,030,347 4,231,507 4,030,347
Cash flow hedge | Designated as hedging instrument | 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) 42,600 (43,100) 16,500 (26,000)
Accumulated Other Comprehensive Income (Loss)        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Beginning balance (74,456) (70,025) (69,619) (53,559)
Ending balance (75,779) (83,499) (75,779) (83,499)
Foreign Currency Translation Adjustments        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Beginning balance (64,950) (58,697) (59,760) (44,114)
Other comprehensive income (loss) before reclassifications, net of tax 1,167 (15,796) (4,023) (30,379)
Amounts reclassified into net income, net of tax 0 0 0 0
Total other comprehensive income (loss), net for the period 1,167 (15,796) (4,023) (30,379)
Ending balance (63,783) (74,493) (63,783) (74,493)
Cash Flow Hedges        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Beginning balance 308 (708) (608) 1,124
Other comprehensive income (loss) before reclassifications, net of tax (4,188) 1,522 (3,534) (319)
Amounts reclassified into net income, net of tax 1,010 328 1,272 337
Total other comprehensive income (loss), net for the period (3,178) 1,850 (2,262) 18
Ending balance (2,870) 1,142 (2,870) 1,142
Available-for-Sale Financial Assets        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Beginning balance (126) (823) (374) (602)
Other comprehensive income (loss) before reclassifications, net of tax 436 450 684 229
Amounts reclassified into net income, net of tax 0 0 0 0
Total other comprehensive income (loss), net for the period 436 450 684 229
Ending balance 310 (373) 310 (373)
Defined Benefit Pension Plans        
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]        
Beginning balance (9,688) (9,797) (8,877) (9,967)
Other comprehensive income (loss) before reclassifications, net of tax 0 (91) (1,045) (110)
Amounts reclassified into net income, net of tax 252 113 486 302
Total other comprehensive income (loss), net for the period 252 22 (559) 192
Ending balance $ (9,436) $ (9,775) $ (9,436) $ (9,775)
v3.25.0.1
SUPPLEMENTAL CASH FLOW DISCLOSURES (Details) - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]    
Cash paid during the period for interest $ 183,698 $ 286,471
Cash received during the period for interest 24,563 19,092
Cash paid during the period for income taxes $ 299,404 $ 143,645
v3.25.0.1
OTHER INCOME (EXPENSE), NET - Schedule of Other Income (Expense) (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Other Income and Expenses [Abstract]        
Foreign exchange gains (losses) $ 25,539 $ (19,624) $ 14,160 $ (8,190)
Unrealized gains (losses) on derivatives not designated as hedges 45,549 (38,117) 20,614 (20,222)
OpenText share in net income (loss) of equity investees 1,538 (8,482) 1,993 (18,178)
Gain on AMC divesture (4,175) 0 (4,175) 0
Other miscellaneous income (expense) 164 (2,561) 368 (2,024)
Total other income (expense), net $ 68,615 $ (68,784) $ 32,960 $ (48,614)
v3.25.0.1
OTHER INCOME (EXPENSE), NET - Additional Information (Details) - Limited Partner Investments
Dec. 31, 2024
Minimum  
Debt Instrument [Line Items]  
Ownership by noncontrolling owners (as a percent) 4.00%
Maximum  
Debt Instrument [Line Items]  
Ownership by noncontrolling owners (as a percent) 20.00%
v3.25.0.1
EARNINGS PER SHARE (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Basic earnings per share        
Net income attributable to OpenText $ 229,862 $ 37,675 $ 314,230 $ 118,576
Basic earnings per share attributable to OpenText (in dollars per share) $ 0.87 $ 0.14 $ 1.18 $ 0.44
Diluted earnings per share        
Net income attributable to OpenText $ 229,862 $ 37,675 $ 314,230 $ 118,576
Diluted earnings per share attributable to OpenText (in dollars per share) $ 0.87 $ 0.14 $ 1.18 $ 0.44
Weighted-average number of shares outstanding (in ‘000’s)        
Basic (in shares) 265,099 271,568 266,252 271,373
Effect of dilutive securities (in shares) 94 573 253 646
Diluted (in shares) 265,193 272,141 266,505 272,019
Excluded as anti-dilutive (in shares) 11,338 8,353 10,982 8,151
v3.25.0.1
SUBSEQUENT EVENTS (Details)
$ / shares in Units, € in Millions, $ in Millions
 1 Months Ended 3 Months Ended 6 Months Ended
Feb. 05, 2025
$ / shares
Aug. 31, 2022
EUR (€)
Dec. 31, 2024
$ / shares
Dec. 31, 2023
$ / shares
Dec. 31, 2024
$ / shares
Dec. 31, 2023
$ / shares
Jan. 09, 2025
USD ($)
Jan. 07, 2025
EUR (€)
Subsequent Event [Line Items]                
Dividends declared per common share (in dollars per share) | $ / shares     $ 0.2625 $ 0.25 $ 0.525 $ 0.50    
Micro Focus | 5 Year EUR to USD Market Hedge | Derivatives not designated as hedges                
Subsequent Event [Line Items]                
Contract maturity (in months)   5 years            
Notional amount of forward contracts held to sell U.S. dollars in exchange for Canadian dollars | €   € 690            
Subsequent event                
Subsequent Event [Line Items]                
Dividends declared per common share (in dollars per share) | $ / shares $ 0.2625              
Subsequent event | Micro Focus | 5 Year EUR to USD Market Hedge | Derivatives not designated as hedges                
Subsequent Event [Line Items]                
Notional amount of forward contracts held to sell U.S. dollars in exchange for Canadian dollars | €               € 138
Termination payment | $             $ 10.4