Filed: 1 Aug 19

Cover Page

Cover Page - USD ($) $ in Billions12 Months Ended
Jun. 30, 2019Jul. 30, 2019Dec. 31, 2018
Cover page.
Document Transition Reportfalse
Entity Incorporation, State or Country CodeZ4
Document Annual Reporttrue
Document Type10-K
Document Period End DateJun. 30,
2019
Entity File Number0-27544
Entity Registrant NameOPEN TEXT CORP
Entity Public Float $ 8.6
Entity Central Index Key0001002638
Current Fiscal Year End Date--06-30
Entity Filer CategoryLarge Accelerated Filer
Document Fiscal Year Focus2019
Document Fiscal Period FocusFY
Title of 12(b) SecurityCommon stock without par value
Trading SymbolOTEX
Security Exchange NameNASDAQ
Amendment Flagfalse
Entity Common Stock, Shares Outstanding270,011,817
Entity Emerging Growth Companyfalse
Entity Small Businessfalse
Entity Shell Companyfalse
Entity Well-known Seasoned IssuerYes
Entity Voluntary FilersNo
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Tax Identification Number98-0154400
Entity Address, Address Line One275 Frank Tompa Drive,
Entity Address, City or TownWaterloo,
Entity Address, State or ProvinceON
Entity Address, Postal Zip CodeN2L 0A1
Entity Address, CountryCA
City Area Code519
Local Phone Number888-7111
Documents Incorporated by ReferenceNone.

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in ThousandsJun. 30, 2019Jun. 30, 2018
ASSETS
Cash and cash equivalents $ 941,009 $ 682,942
Accounts receivable trade, net of allowance for doubtful accounts of $17,011 as of June 30, 2019 and $9,741 as of June 30, 2018 (note 4)463,785 487,956
Contract assets (note 3)20,956 0
Income taxes recoverable (note 14)38,340 55,623
Prepaid expenses and other current assets97,238 101,059
Total current assets1,561,328 1,327,580
Property and equipment (note 5)249,453 264,205
Long-term contract assets (note 3)15,386 0
Goodwill (note 6)3,769,908 3,580,129
Acquired intangible assets (note 7)1,146,504 1,296,637
Deferred tax assets (note 14)1,004,450 1,122,729
Other assets (note 8)148,977 111,267
Deferred charges0 38,000
Long-term income taxes recoverable (note 14)37,969 24,482
Total assets7,933,975 7,765,029
Current liabilities:
Accounts payable and accrued liabilities (note 9)329,903 302,154
Current portion of long-term debt (note 10)10,000 10,000
Deferred revenues641,656 644,211
Income taxes payable (note 14)33,158 38,234
Total current liabilities1,014,717 994,599
Long-term liabilities:
Accrued liabilities (note 9)49,441 52,827
Deferred credits0 2,727
Pension liability (note 11)75,239 65,719
Long-term debt (note 10)2,604,878 2,610,523
Deferred revenues46,974 69,197
Long-term income taxes payable (note 14)202,184 172,241
Deferred tax liabilities (note 14)55,872 79,938
Total long-term liabilities3,034,588 3,053,172
Shareholders’ equity:
Share capital and additional paid-in capital (note 12): 269,834,442 and 267,651,084 Common Shares issued and outstanding at June 30, 2019 and June 30, 2018, respectively; authorized Common Shares: unlimited1,774,214 1,707,073
Accumulated other comprehensive income24,124 33,645
Retained earnings2,113,883 1,994,235
Treasury stock, at cost (802,871 shares at June 30, 2019 and 690,336 shares at June 30, 2018, respectively)(28,766)(18,732)
Total OpenText shareholders' equity3,883,455 3,716,221
Non-controlling interests1,215 1,037
Total shareholders’ equity3,884,670 3,717,258
Total liabilities and shareholders’ equity $ 7,933,975 $ 7,765,029

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in ThousandsJun. 30, 2019Jun. 30, 2018
Statement of Financial Position [Abstract]
Accounts receivable trade, allowance for doubtful accounts $ 17,011 $ 9,741
Common shares issued (in shares)269,834,442 267,651,084
Common shares outstanding (in shares)269,834,442 267,651,084
Treasury stock (in shares)802,871 690,336

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Revenues:
Total revenues $ 2,868,755 $ 2,815,241 $ 2,291,057
Cost of revenues:
Amortization of acquired technology-based intangible assets (note 7)183,385 185,868 130,556
Total cost of revenues930,703 950,999 761,557
Gross profit1,938,052 1,864,242 1,529,500
Operating expenses:
Research and development321,836 322,909 281,215
Sales and marketing518,035 529,141 444,454
General and administrative207,909 205,227 170,353
Depreciation97,716 86,943 64,318
Amortization of acquired customer-based intangible assets (note 7)189,827 184,118 150,842
Special charges (recoveries) (note 17)35,719 29,211 63,618
Total operating expenses1,371,042 1,357,549 1,174,800
Income from operations567,010 506,693 354,700
Other income (expense), net10,156 17,973 15,743
Interest and other related expense, net(136,592)(138,540)(120,892)
Income before income taxes440,574 386,126 249,551
Provision for (recovery of) income taxes (note 14)154,937 143,826 (776,364)
Net income for the period285,637 242,300 1,025,915
Net (income) loss attributable to non-controlling interests(136)(76)(256)
Net income attributable to OpenText $ 285,501 $ 242,224 $ 1,025,659
Earnings per share—basic attributable to OpenText (note 21) (in dollars per share) $ 1.06 $ 0.91 $ 4.04
Earnings per share—diluted attributable to OpenText (note 21) (in dollars per share) $ 1.06 $ 0.91 $ 4.01
Weighted average number of Common Shares outstanding—basic (in '000's) (in shares)268,784 266,085 253,879
Weighted average number of Common Shares outstanding—diluted (in '000's) (in shares)269,908 267,492 255,805
License
Revenues:
Total revenues $ 428,092 $ 437,512 $ 369,144
Cost of revenues:
Costs of revenues14,347 13,693 13,632
Cloud services and subscriptions
Revenues:
Total revenues907,812 828,968 705,495
Cost of revenues:
Costs of revenues383,993 364,160 299,850
Customer support
Revenues:
Total revenues1,247,915 1,232,504 981,102
Cost of revenues:
Costs of revenues124,343 133,889 122,565
Professional service and other
Revenues:
Total revenues284,936 316,257 235,316
Cost of revenues:
Costs of revenues $ 224,635 $ 253,389 $ 194,954

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income for the period $ 285,637 $ 242,300 $ 1,025,915
Other comprehensive income (loss)—net of tax:
Net foreign currency translation adjustments(3,882)(9,582)(4,756)
Unrealized gain (loss) on cash flow hedges:
Unrealized gain (loss) - net of tax expense (recovery) effect of $6, ($171) and $34 for the year ended June 30, 2019, 2018 and 2017, respectively16 (476)95
(Gain) loss reclassified into net income - net of tax (expense) recovery effect of $539, ($489) and $67 for the year ended June 30, 2019, 2018 and 2017, respectively1,494 (1,357)186
Actuarial gain (loss) relating to defined benefit pension plans:
Actuarial gain (loss) - net of tax expense (recovery) effect of ($2,004), ($1,846) and $840 for the year ended June 30, 2019, 2018 and 2017, respectively(7,421)(3,383)6,216
Amortization of actuarial (gain) loss into net income - net of tax (expense) recovery effect of $292, $183 and $241 for the year ended June 30, 2019, 2018 and 2017, respectively272 260 565
Unrealized net gain (loss) on marketable securities - net of tax effect of nil for the year ended June 30, 2019, 2018 and 2017 respectively0 0 184
Release of unrealized gain on marketable securities - net of tax effect of nil for the year ended June 30, 2019, 2018 and 2017 respectively0 (617)0
Total other comprehensive income (loss) net, for the period(9,521)(15,155)2,490
Total comprehensive income276,116 227,145 1,028,405
Comprehensive (income) loss attributable to non-controlling interests(136)(76)(256)
Total comprehensive income attributable to OpenText $ 275,980 $ 227,069 $ 1,028,149

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on cash flow hedges, tax (recovery) expense $ 6,000 $ (171,000) $ 34,000
(Gain) loss reclassified into net income, tax (expense) recovery539,000 (489,000)67,000
Actuarial gain (loss), tax (recovery) expense(2,004,000)(1,846,000)840,000
Amortization of actuarial (gain) loss into net income, tax recovery (expense)292,000 183,000 241,000
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, Tax0 0 0
Release of unrealized gain on marketable securities, tax effect $ 0 $ 0 $ 0

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in ThousandsTotalCommon Shares and Additional Paid in CapitalTreasury StockRetained EarningsAccumulated Other Comprehensive IncomeNon-Controlling Interests
Balance (in shares) at Jun. 30, 2016242,810,000 1,268,000
Balance at Jun. 30, 2016 $ 1,979,197 $ 965,068 $ (25,268) $ 992,546 $ 46,310 $ 541
Issuance of Common Shares
Under employee stock option plans (in shares)1,012,000
Under employee stock option plans20,732 $ 20,732
Under employee stock purchase plans (in shares)427,000
Under employee stock purchase plans11,604 $ 11,604
Under the public Equity Offering (in shares)19,811,000
Under the public Equity Offering604,223 $ 604,223
Income tax effect related to public Equity offering5,077 5,077
Equity Issuance Costs(19,574)(19,574)
Share-based compensation30,507 30,507
Income tax effect related to share-based compensation1,534 1,534
Purchase of treasury stock (in shares)(244,000)
Purchase of treasury stock(8,198) $ (8,198)
Issuance of treasury stock $ 0 (5,946) $ 5,946
Issuance of treasury stock (in shares)409,922 410,000
Dividends declared $ (120,581)(120,581)
Other comprehensive income - net2,490 2,490
Non-controlling Interest393 $ 229 164
Net income for the year1,025,915 1,025,659 256
Balance (in shares) at Jun. 30, 2017264,060,000 1,102,000
Balance at Jun. 30, 2017 $ 3,533,319 $ 1,613,454 $ (27,520)1,897,624 48,800 961
Issuance of Common Shares
Under employee stock option plans (in shares)2,869,569 2,870,000
Under employee stock option plans $ 54,355 $ 54,355
Under employee stock purchase plans (in shares)721,000
Under employee stock purchase plans20,458 $ 20,458
Share-based compensation27,594 27,594
Issuance of treasury stock $ 0 $ (8,788) $ 8,788
Issuance of treasury stock (in shares)411,276 411,000
Dividends declared $ (145,613)(145,613)
Other comprehensive income - net(15,155)(15,155)
Net income for the year242,300 242,224 76
Balance (in shares) at Jun. 30, 2018267,651,000 691,000
Balance at Jun. 30, 20183,717,258 $ 1,707,073 $ (18,732)1,994,235 33,645 1,037
Issuance of Common Shares
Cumulative effect of new accounting principle | Accounting Standards Update 2016-16(26,780)(26,780)
Cumulative effect of new accounting principle | Accounting Standards Update 2014-09 $ 29,786 29,786
Under employee stock option plans (in shares)1,472,031 1,472,000
Under employee stock option plans $ 35,626 $ 35,626
Under employee stock purchase plans (in shares)711,000
Under employee stock purchase plans21,835 $ 21,835
Share-based compensation26,770 26,770
Purchase of treasury stock (in shares)(726,000)
Purchase of treasury stock(26,499) $ (26,499)
Issuance of treasury stock $ 0 (16,465) $ 16,465
Issuance of treasury stock (in shares)613,524 614,000
Dividends declared $ (168,859)(168,859)
Other comprehensive income - net(9,521)(9,521)
Net income for the year285,637 285,501 136
Non-controlling interest(583) $ (625)42
Balance (in shares) at Jun. 30, 2019269,834,000 803,000
Balance at Jun. 30, 2019 $ 3,884,670 $ 1,774,214 $ (28,766) $ 2,113,883 $ 24,124 $ 1,215

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share) $ 0.6300 $ 0.5478 $ 0.4770

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Cash flows from operating activities:
Net income for the period $ 285,637,000 $ 242,300,000 $ 1,025,915,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of intangible assets470,928,000 456,929,000 345,715,000
Share-based compensation expense26,770,000 27,594,000 30,507,000
Excess tax (benefits) expense on share-based compensation expense0 0 (1,534,000)
Pension expense4,624,000 3,738,000 3,893,000
Amortization of debt issuance costs4,330,000 4,646,000 5,014,000
Amortization of deferred charges and credits0 4,242,000 6,298,000
Loss on sale and write down of property and equipment9,438,000 2,234,000 784,000
Release of unrealized gain on marketable securities to income0 (841,000)0
Deferred taxes47,425,000 89,736,000 (871,195,000)
Share in net (income) loss of equity investees(13,668,000)(5,965,000)(5,952,000)
Write off of unamortized debt issuance costs0 155,000 833,000
Other non-cash charges0 0 1,033,000
Changes in operating assets and liabilities:
Accounts receivable75,508,000 (22,566,000)(126,784,000)
Contract assets(37,623,000)0 0
Prepaid expenses and other current assets(819,000)(7,274,000)(7,766,000)
Income taxes and deferred charges and credits27,291,000 (31,323,000)(1,683,000)
Accounts payable and accrued liabilities(21,732,000)(91,650,000)53,490,000
Deferred revenue(1,827,000)35,629,000 3,484,000
Other assets(4,000)497,000 (21,699,000)
Net cash provided by operating activities876,278,000 708,081,000 440,353,000
Cash flows from investing activities:
Additions of property and equipment(63,837,000)(105,318,000)(79,592,000)
Proceeds from maturity of short-term investments0 0 9,212,000
Other investing activities(16,966,000)(18,034,000)(5,937,000)
Net cash used in investing activities(464,526,000)(444,441,000)(2,190,964,000)
Cash flows from financing activities:
Excess tax benefits (expense) on share-based compensation expense0 0 1,534,000
Proceeds from long-term debt and Revolver0 1,200,000,000 481,875,000
Proceeds from issuance of Common Shares from exercise of stock options and ESPP57,889,000 75,935,000 35,593,000
Proceeds from issuance of Common Shares under the public Equity Offering0 0 604,223,000
Repayment of long-term debt and Revolver(10,000,000)(1,149,620,000)(57,880,000)
Debt issuance costs(322,000)(4,375,000)(7,240,000)
Equity issuance costs0 0 (19,574,000)
Purchase of Treasury Stock(26,499,000)0 (8,198,000)
Purchase of non-controlling interests(583,000)0 (208,000)
Payments of dividends to shareholders(168,859,000)(145,613,000)(120,581,000)
Net cash provided by (used in) financing activities(148,374,000)(23,673,000)909,544,000
Foreign exchange gain (loss) on cash held in foreign currencies(3,826,000)(2,186,000)1,767,000
Increase (decrease) in cash, cash equivalents and restricted cash during the period259,552,000 237,781,000 (839,300,000)
Cash, cash equivalents and restricted cash at beginning of the period683,991,000 446,210,000 1,285,510,000
Cash, cash equivalents and restricted cash at end of the period943,543,000 683,991,000 446,210,000
Catalyst Repository Systems Inc
Purchase of business, net of cash acquired(70,800,000)0 0
Liaison Technologies Inc.
Purchase of business, net of cash acquired(310,644,000)0 0
Hightail, Inc
Purchase of business, net of cash acquired0 (20,535,000)0
Guidance Software Inc.
Purchase of business, net of cash acquired(2,279,000)(229,275,000)0
Covisint Corporation
Purchase of business, net of cash acquired0 (71,279,000)0
ECD Business
Purchase of business, net of cash acquired0 0 (1,622,394,000)
HP Inc. CCM Business
Purchase of business, net of cash acquired0 0 (315,000,000)
Recommind, Inc.
Purchase of business, net of cash acquired0 0 (170,107,000)
Acquisitions completed prior to Fiscal 2017
Purchase of business, net of cash acquired $ 0 $ 0 $ (7,146,000)

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS Reconciliation of Cash, Cash Equivalents and Restricted Cash - USD ($) $ in ThousandsJun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents $ 941,009 $ 682,942 $ 443,357
Restricted cash included in Other assets2,534 1,049 2,853
Total cash, cash equivalents and restricted cash $ 943,543 $ 683,991 $ 446,210

Basis of Presentation

Basis of Presentation12 Months Ended
Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATIONBASIS OF PRESENTATION The accompanying Consolidated Financial Statements include the accounts of Open Text Corporation and our subsidiaries, collectively referred to as "OpenText" or the "Company". We wholly own all of our subsidiaries with the exception of Open Text South Africa Proprietary Ltd. (OT South Africa) and EC1 Pte. Ltd. (GXS Singapore), which as of June 30, 2019 , were 70% and 81% owned, respectively, by OpenText. All inter-company balances and transactions have been eliminated. Previously, our ownership in GXS Inc. (GXS Korea) was 85% . During the first quarter of Fiscal 2019, we acquired all of the outstanding non-controlling interests in GXS Korea for $0.6 million in cash. These Consolidated Financial Statements are expressed in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles (U.S. GAAP). The information furnished reflects all adjustments necessary for a fair presentation of the results for the periods presented and includes the financial results of Liaison Technologies, Inc. (Liaison), with effect from December 17, 2018, and Catalyst Repository Systems Inc. (Catalyst), with effect from January 31, 2019 (see note 18 "Acquisitions"). Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires us to make certain estimates, judgments and assumptions that affect the amounts reported in the Consolidated Financial Statements . These estimates, judgments and assumptions are evaluated on an ongoing basis. We base our estimates on historical experience and on various other assumptions that we believe are reasonable at that time, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from those estimates. In particular, key estimates, judgments and assumptions include those related to: (i) revenue recognition, (ii) accounting for income taxes, (iii) testing of goodwill for impairment, (iv) the valuation of acquired intangible assets, (v) the valuation of long-lived assets, (vi) the recognition of contingencies, (vii) restructuring accruals, (viii) acquisition accruals and pre-acquisition contingencies, (ix) the realization of investment tax credits, (x) the valuation of stock options granted and obligations related to share-based payments, including the valuation of our long-term incentive plans, and (xi) the valuation of pension obligations. Impact of Recently Adopted Accounting Pronouncements Revenue Recognition Effective July 1, 2018, we adopted Accounting Standards Codification (ASC) Topic 606 "Revenue from Contracts with Customers" (Topic 606) using the cumulative effect approach. We applied the accounting standard to contracts that were not completed as of the date of the initial adoption. Results for reporting periods commencing on July 1, 2018 are presented under the new revenue standard, while prior period results continue to be reported under the previous revenue standard. As a result of this adoption, we recorded a net increase of approximately $30 million to retained earnings as of July 1, 2018 on the Consolidated Balance Sheets, with the following corresponding impacts: • A decrease to deferred revenues of approximately $31 million ; • A decrease to other assets of approximately $22 million in connection with deferred implementation costs; • An increase to other assets of approximately $14 million in connection with the capitalization of sales commission costs; • An increase in contract assets of approximately $18 million representing future billings in excess of revenues; and • An increase in net deferred tax liabilities of approximately $11 million . Please refer to Note 3 "Revenues" for additional information relating to Topic 606, including our updated revenue recognition policies. Additionally, certain prior period balances have been reclassified within other assets on the Consolidated Balance Sheets, to conform to the current period presentation as a result of this adoption. Please refer to Note 8 "Other Assets" for details. Income Taxes Effective July 1, 2018, we adopted Accounting Standards Update (ASU) No. 2016-16, "Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory" (ASU 2016-16) which requires entities to recognize the income tax consequence of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. We adopted ASU 2016-16 on a modified retrospective basis through a cumulative-effect adjustment to opening retained earnings. Results for reporting periods effective as of July 1, 2018 are presented under the new standard, while prior period results continue to be reported under the previous standard. As a result of this adoption, we recorded a net decrease of approximately $27 million to retained earnings as of July 1, 2018 on the Consolidated Balance Sheets, with the following corresponding impacts: • A decrease to deferred charges of approximately $38 million ; • An increase to deferred tax assets of approximately $8 million ; and • A decrease to deferred credits of approximately $3 million . There was no impact to the Consolidated Statements of Income, Consolidated Statements of Comprehensive Income or Consolidated Statements of Cash Flows as a result of this adoption. Restricted Cash Effective July 1, 2018, we adopted ASU No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash” (ASU 2016-18), which requires amounts described as restricted cash and cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts in the statement of cash flows. We adopted ASU 2016-18 using the retrospective method. As a result, certain prior period comparative figures in the Consolidated Statements of Cash Flows have been adjusted to conform to current period presentation as follows: Year Ended June 30, 2018 Year Ended June 30, 2017 As Previously Reported Adjustments As Adjusted As Previously Reported Adjustments As Adjusted Net cash provided by operating activities $ 709,885 $ (1,804 ) $ 708,081 $ 439,253 $ 1,100 $ 440,353 Cash, cash equivalents and restricted cash at beginning of period 443,357 2,853 446,210 1,283,757 1,753 1,285,510 Increase (decrease) in cash, cash equivalents and restricted cash during the period 239,585 (1,804 ) 237,781 (840,400 ) 1,100 (839,300 ) Cash, cash equivalents and restricted cash at end of period $ 682,942 $ 1,049 $ 683,991 $ 443,357 $ 2,853 $ 446,210 There was no impact to the Consolidated Balance Sheets, Consolidated Statements of Income, Consolidated Statements of Shareholders' Equity or Consolidated Statements of Comprehensive Income as a result of this adoption. Pension Expense Effective July 1, 2018, we adopted ASU No. 2017-07, “Retirement Benefits - Presentation of Net Period Pension Costs (Topic 715)” (ASU 2017-07), which provides guidance on the capitalization, presentation and disclosure of net benefit costs related to postretirement benefit plans. Upon adoption, only service-related net periodic pension costs will be recorded within operating expense. All other non-service related net periodic pension costs will be classified under "Interest and other related expense" on our Condensed Consolidated Statements of Income. We adopted ASU 2017-07 on a retrospective basis. As a result, certain prior period comparative figures in the Consolidated Statements of Income have been adjusted to conform to current period presentation as follows: Year Ended June 30, 2018 Year Ended June 30, 2017 As Previously Reported Adjustments As Adjusted As Previously Reported Adjustments As Adjusted Cost of revenues - Cloud services $ 364,091 $ 69 $ 364,160 $ 300,255 $ (405 ) $ 299,850 Cost of revenues - Customer Support $ 134,089 $ (200 ) $ 133,889 $ 122,753 $ (188 ) $ 122,565 Cost of revenues - Professional service and other $ 253,670 $ (281 ) $ 253,389 $ 195,195 $ (241 ) $ 194,954 Total cost of revenues $ 951,411 $ (412 ) $ 950,999 $ 762,391 $ (834 ) $ 761,557 Gross profit $ 1,863,830 $ 412 $ 1,864,242 $ 1,528,666 $ 834 $ 1,529,500 Research and Development $ 323,461 $ (552 ) $ 322,909 $ 281,680 $ (465 ) $ 281,215 Sales and Marketing $ 529,381 $ (240 ) $ 529,141 $ 444,838 $ (384 ) $ 444,454 General and administrative $ 205,313 $ (86 ) $ 205,227 $ 170,438 $ (85 ) $ 170,353 Total operating expense $ 1,358,427 $ (878 ) $ 1,357,549 $ 1,175,734 $ (934 ) $ 1,174,800 Income from operations $ 505,403 $ 1,290 $ 506,693 $ 352,932 $ 1,768 $ 354,700 Interest and other related expense, net $ (137,250 ) $ (1,290 ) $ (138,540 ) $ (119,124 ) $ (1,768 ) $ (120,892 ) There was no change to net income or net earnings per share in any of the periods presented as a result of this adoption. Additionally, there was no impact to the Consolidated Balance Sheets, Consolidated Statements of Comprehensive Income, Consolidated Statements of Shareholders' Equity or Consolidated Statements of Cash Flows as a result of this adoption.

Accounting Policies and Recent

Accounting Policies and Recent Accounting Pronouncements12 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]
ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTSACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS Accounting Policies Cash and cash equivalents Cash and cash equivalents include balances with banks as well as deposits that have terms to maturity of three months or less. Cash equivalents are recorded at cost and typically consist of term deposits, commercial paper, certificates of deposit and short-term interest bearing investment-grade securities of major banks in the countries in which we operate. Accounts Receivable and Allowance for doubtful accounts From time to time, we may sell certain accounts receivable to a financial institution on a non-recourse basis for cash, less a discount. Proceeds from the sale of receivables approximate their discounted book value are included in operating cash flows on the Consolidated Statement of Cash Flows. We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of customers to make payments. We evaluate the creditworthiness of our customers prior to order fulfillment and based on these evaluations, we adjust our credit limit to the respective customer. In addition to these evaluations, we conduct on-going credit evaluations of our customers' payment history and current creditworthiness. The allowance is maintained for 100% of all accounts deemed to be uncollectible and, for those receivables not specifically identified as uncollectible, an allowance is maintained for a specific percentage of those receivables based upon the aging of accounts, our historical collection experience and current economic expectations. To date, the actual losses have been within our expectations. No single customer accounted for more than 10% of the accounts receivable balance as of June 30, 2019 and 2018. Property and equipment Property and equipment are stated at the lower of cost or net realizable value, and shown net of depreciation which is computed on a straight-line basis over the estimated useful lives of the related assets. Gains and losses on asset disposals are taken into income in the year of disposition. Fully depreciated property and equipment are retired from the consolidated balance sheet when they are no longer in use. We did not recognize any significant property and equipment impairment charges in Fiscal 2019, Fiscal 2018, or Fiscal 2017. The following represents the estimated useful lives of property and equipment as of June 30, 2019: Furniture and fixtures 5 years Office equipment 5 years Computer hardware 3 years Computer software 3 to 7 years Capitalized software 3 to 5 years Leasehold improvements Lesser of the lease term or 5 years Building 40 years Capitalized Software We capitalize software development costs in accordance with ASC Topic 350-40 "Accounting for the Costs of Computer Software Developed or Obtained for Internal-Use". We capitalize costs for software to be used internally when we enter the application development stage. This occurs when we complete the preliminary project stage, management authorizes and commits to funding the project, and it is feasible that the project will be completed and the software will perform the intended function. We cease to capitalize costs related to a software project when it enters the post implementation and operation stage. If different determinations are made with respect to the state of development of a software project, then the amount capitalized and the amount charged to expense for that project could differ materially. Costs capitalized during the application development stage consist of payroll and related costs for employees who are directly associated with, and who devote time directly to, a project to develop software for internal use. We also capitalize the direct costs of materials and services, which generally includes outside contractors, and interest. We do not capitalize any general and administrative or overhead costs or costs incurred during the application development stage related to training or data conversion costs. Costs related to upgrades and enhancements to internal-use software, if those upgrades and enhancements result in additional functionality, are capitalized. If upgrades and enhancements do not result in additional functionality, those costs are expensed as incurred. If different determinations are made with respect to whether upgrades or enhancements to software projects would result in additional functionality, then the amount capitalized and the amount charged to expense for that project could differ materially. We amortize capitalized costs with respect to development projects for internal-use software when the software is ready for use. The capitalized software development costs are generally amortized using the straight-line method over a 3 to 5 year period. In determining and reassessing the estimated useful life over which the cost incurred for the software should be amortized, we consider the effects of obsolescence, technology, competition and other economic factors. If different determinations are made with respect to the estimated useful life of the software, the amount of amortization charged in a particular period could differ materially. As of June 30, 2019 and 2018 our capitalized software development costs were $95.7 million and $81.1 million , respectively. Our additions, relating to capitalized software development costs, incurred during Fiscal 2019 and Fiscal 2018 were $14.3 million and $14.6 million , respectively. Acquired intangibles Acquired intangibles consist of acquired technology and customer relationships associated with various acquisitions. Acquired technology is initially recorded at fair value based on the present value of the estimated net future income-producing capabilities of software products acquired on acquisitions. We amortize acquired technology over its estimated useful life on a straight-line basis. Customer relationships represent relationships that we have with customers of the acquired companies and are either based upon contractual or legal rights or are considered separable; that is, capable of being separated from the acquired entity and being sold, transferred, licensed, rented or exchanged. These customer relationships are initially recorded at their fair value based on the present value of expected future cash flows. We amortize customer relationships on a straight-line basis over their estimated useful lives. We continually evaluate the remaining estimated useful life of our intangible assets being amortized to determine whether events and circumstances warrant a revision to the remaining period of amortization. Impairment of long-lived assets We account for the impairment and disposition of long-lived assets in accordance with ASC Topic 360, “Property, Plant, and Equipment” (Topic 360). We test long-lived assets or asset groups, such as property and equipment and definite lived intangible assets, for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant adverse changes in the business climate or legal factors; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and a current expectation that the asset will more likely than not be sold or disposed of before the end of its estimated useful life. Recoverability is assessed based on comparing the carrying amount of the asset to the aggregate pre-tax undiscounted cash flows expected to result from the use and eventual disposal of the asset or asset group. Impairment is recognized when the carrying amount is not recoverable and exceeds the fair value of the asset or asset group. The impairment loss, if any, is measured as the amount by which the carrying amount exceeds fair value, which for this purpose is based upon the discounted projected future cash flows of the asset or asset group. We have no t recorded any significant impairment charges for long-lived assets during Fiscal 2019, Fiscal 2018 and Fiscal 2017. Business combinations We apply the provisions of ASC Topic 805, “Business Combinations” (Topic 805), in the accounting for our acquisitions. It requires us to recognize separately from goodwill the assets acquired and the liabilities assumed at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While we use our best estimates and assumptions to accurately value assets acquired and liabilities, including contingent consideration where applicable, assumed at the acquisition date, our estimates are inherently uncertain and subject to refinement, particularly since these assumptions and estimates are based in part on historical experience and information obtained from the management of the acquired companies. As a result, during the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill in the period identified. Furthermore, when valuing certain intangible assets that we have acquired, critical estimates may be made relating to, but not limited to: (i) future expected cash flows from software license sales, cloud SaaS, DaaS and PaaS contracts, support agreements, consulting agreements and other customer contracts (ii) the acquired company's technology and competitive position, as well as assumptions about the period of time that the acquired technology will continue to be used in the combined company's product portfolio, and (iii) discount rates. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments would be recorded to our Consolidated Statements of Income. For a given acquisition, we may identify certain pre-acquisition contingencies as of the acquisition date and may extend our review and evaluation of these pre-acquisition contingencies throughout the measurement period in order to obtain sufficient information to assess whether we include these contingencies as a part of the purchase price allocation and, if so, to determine the estimated amounts. If we determine that a pre-acquisition contingency (non-income tax related) is probable in nature and estimable as of the acquisition date, we record our best estimate for such a contingency as a part of the preliminary purchase price allocation. We often continue to gather information and evaluate our pre-acquisition contingencies throughout the measurement period and if we make changes to the amounts recorded or if we identify additional pre-acquisition contingencies during the measurement period, such amounts will be included in the purchase price allocation during the measurement period and, subsequently, in our results of operations. Uncertain tax positions and tax related valuation allowances assumed in connection with a business combination are initially estimated as of the acquisition date. We review these items during the measurement period as we continue to actively seek and collect information relating to facts and circumstances that existed at the acquisition date. Changes to these uncertain tax positions and tax related valuation allowances made subsequent to the measurement period, or if they relate to facts and circumstances that did not exist at the acquisition date, are recorded in the "Provision for (recovery of) income taxes" line of our Consolidated Statements of Income. Goodwill Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. The carrying amount of goodwill is periodically reviewed for impairment (at a minimum annually) and whenever events or changes in circumstances indicate that the carrying value of this asset may not be recoverable. Our operations are analyzed by management and our chief operating decision maker (CODM) as being part of a single industry segment: the design, development, marketing and sales of Enterprise Information Management (EIM) software and solutions. Therefore, our goodwill impairment assessment is based on the allocation of goodwill to a single reporting unit. We perform a qualitative assessment to test our reporting unit's goodwill for impairment. Based on our qualitative assessment, if we determine that the fair value of our reporting unit is more likely than not (i.e. a likelihood of more than 50 percent) to be less than its carrying amount, the second step of the impairment test is performed. In the second step of the impairment test, we compare the fair value of our reporting unit to its carrying value. If the fair value of the reporting unit exceeds its carrying value, goodwill is not considered impaired and we are not required to perform further testing. If the carrying value of the net assets of our reporting unit exceeds its fair value, then an impairment loss equal to the difference, but not exceeding the total carrying value of goodwill allocated to the reporting unit, would be recorded. Our annual impairment analysis of goodwill was performed as of April 1, 2019. Our qualitative assessment indicated that there were no indications of impairment and therefore there was no impairment of goodwill required to be recorded for Fiscal 2019 ( no impairments were recorded for Fiscal 2018 and Fiscal 2017). Derivative financial instruments We use derivative financial instruments to manage foreign currency rate risk. We account for these instruments in accordance with ASC Topic 815, “Derivatives and Hedging” (Topic 815), which requires that every derivative instrument be recorded on the balance sheet as either an asset or liability measured at its fair value as of the reporting date. Topic 815 also requires that changes in our derivative financial instruments' fair values be recognized in earnings; unless specific hedge accounting and documentation criteria are met (i.e. the instruments are accounted for as hedges). We recorded the effective portions of the gain or loss on derivative financial instruments that were designated as cash flow hedges in "Accumulated other comprehensive income", net of tax, in our accompanying Consolidated Balance Sheets. Any ineffective or excluded portion of a designated cash flow hedge, if applicable, was recognized in our Consolidated Statements of Income. Asset retirement obligations We account for asset retirement obligations in accordance with ASC Topic 410, “Asset Retirement and Environmental Obligations” (Topic 410), which applies to certain obligations associated with “leasehold improvements” within our leased office facilities. Topic 410 requires that a liability be initially recognized for the estimated fair value of the obligation when it is incurred. The associated asset retirement cost is capitalized as part of the carrying amount of the long-lived asset and depreciated over the remaining life of the underlying asset and the associated liability is accreted to the estimated fair value of the obligation at the settlement date through periodic accretion charges recorded within general and administrative expenses. When the obligation is settled, any difference between the final cost and the recorded amount is recognized as income or loss on settlement in our Consolidated Statements of Income. Revenue recognition In accordance with Topic 606, we account for a customer contract when we obtain written approval, the contract is committed, the rights of the parties, including the payment terms, are identified, the contract has commercial substance and consideration is probable of collection. Revenue is recognized when, or as, control of a promised product or service is transferred to our customers in an amount that reflects the consideration we expect to be entitled to in exchange for our products and services (at its transaction price). Estimates of variable consideration and the determination of whether to include estimated amounts in the transaction price are based on readily available information, which may include historical, current and forecasted information, taking into consideration the type of customer, the type of transaction and specific facts and circumstances of each arrangement. We report revenue net of any revenue-based taxes assessed by governmental authorities that are imposed on and concurrent with specific revenue producing transactions. Refer to note 3 "Revenues" for our full revenue recognition policy. Research and development costs Research and development costs internally incurred in creating computer software to be sold, licensed or otherwise marketed are expensed as incurred unless they meet the criteria for deferral and amortization, as described in ASC Topic 985-20, “Costs of Software to be Sold, Leased, or Marketed” (Topic 985-20). In accordance with Topic 985-20, costs related to research, design and development of products are charged to expense as incurred and capitalized between the dates that the product is considered to be technologically feasible and is considered to be ready for general release to customers. In our historical experience, the dates relating to the achievement of technological feasibility and general release of the product have substantially coincided. In addition, no significant costs are incurred subsequent to the establishment of technological feasibility. As a result, we do not capitalize any research and development costs relating to internally developed software to be sold, licensed or otherwise marketed. Income taxes We account for income taxes in accordance with ASC Topic 740, “Income Taxes” (Topic 740). Deferred tax assets and liabilities arise from temporary differences between the tax bases of assets and liabilities and their reported amounts in the Consolidated Financial Statements that will result in taxable or deductible amounts in future years. These temporary differences are measured using enacted tax rates. A valuation allowance is recorded to reduce deferred tax assets to the extent that we consider it is more likely than not that a deferred tax asset will not be realized. In determining the valuation allowance, we consider factors such as the reversal of deferred income tax liabilities, projected taxable income, and the character of income tax assets and tax planning strategies. A change to these factors could impact the estimated valuation allowance and income tax expense. We account for our uncertain tax provisions by using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not, based solely on the technical merits, that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the appropriate amount of the benefit to recognize. The amount of benefit to recognize is measured as the maximum amount which is more likely than not to be realized. The tax position is derecognized when it is no longer more likely than not that the position will be sustained on audit. On subsequent recognition and measurement the maximum amount which is more likely than not to be recognized at each reporting date will represent the Company's best estimate, given the information available at the reporting date, although the outcome of the tax position is not absolute or final. We recognize both accrued interest and penalties related to liabilities for income taxes within the "Provision for (recovery of) income taxes" line of our Consolidated Statements of Income (see note 14 "Income Taxes" for more details). Fair value of financial instruments Carrying amounts of certain financial instruments, including cash and cash equivalents, accounts receivable and accounts payable (trade and accrued liabilities) approximate their fair value due to the relatively short period of time between origination of the instruments and their expected realization. The fair value of our total long-term debt approximates its carrying value since the interest rate is at market. We apply the provisions of ASC 820, “Fair Value Measurements and Disclosures”, to our derivative financial instruments that we are required to carry at fair value pursuant to other accounting standards (see note 15 "Fair Value Measurement" for more details). Foreign currency Our Consolidated Financial Statements are presented in U.S. dollars. In general, the functional currency of our subsidiaries is the local currency. For each subsidiary, assets and liabilities denominated in foreign currencies are translated into U.S dollars at the exchange rates in effect at the balance sheet dates and revenues and expenses are translated at the average exchange rates prevailing during the previous month of the transaction. The effect of foreign currency translation adjustments not affecting net income are included in Shareholders' equity under the “Cumulative translation adjustment” account as a component of “Accumulated other comprehensive income”. Transactional foreign currency gains (losses) included in the Consolidated Statements of Income under the line item “Other income (expense), net” for Fiscal 2019, Fiscal 2018 and Fiscal 2017 were $(4.3) million , $4.8 million and $3.1 million , respectively. Restructuring charges We record restructuring charges relating to contractual lease obligations and other exit costs in accordance with ASC Topic 420, “Exit or Disposal Cost Obligations” (Topic 420). Topic 420 requires that a liability for a cost associated with an exit or disposal activity be recognized and measured initially at its fair value in the period in which the liability is incurred. In order to incur a liability pursuant to Topic 420, our management must have established and approved a plan of restructuring in sufficient detail. A liability for a cost associated with involuntary termination benefits is recorded when benefits have been communicated and a liability for a cost to terminate an operating lease or other contract is incurred, when the contract has been terminated in accordance with the contract terms or we have ceased using the right conveyed by the contract, such as vacating a leased facility. The recognition of restructuring charges requires us to make certain judgments regarding the nature, timing and amount associated with the planned restructuring activities, including estimating sub-lease income and the net recoverable amount of equipment to be disposed of. At the end of each reporting period, we evaluate the appropriateness of the remaining accrued balances (see note 17 "Special Charges (Recoveries)" for more details). Loss Contingencies We are currently involved in various claims and legal proceedings. Quarterly, we review the status of each significant legal matter and evaluate such matters to determine how they should be treated for accounting and disclosure purposes in accordance with the requirements of ASC Topic 450-20 "Loss Contingencies" (Topic 450-20). Specifically, this evaluation process includes the centralized tracking and itemization of the status of all our disputes and litigation items, discussing the nature of any litigation and claim, including any dispute or claim that is reasonably likely to result in litigation, with relevant internal and external counsel, and assessing the progress of each matter in light of its merits and our experience with similar proceedings under similar circumstances. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, we accrue a liability for the estimated loss in accordance with Topic 450-20. As of the date of this filing on Form 10-K for the year ended June 30, 2019, we do not believe that the outcomes of any of these matters not already disclosed, individually or in the aggregate, will result in losses that are materially in excess of amounts already recognized (see note 13 "Guarantees and Contingencies" for more details). Net income per share Basic net income per share is computed using the weighted average number of Common Shares outstanding including contingently issuable shares where the contingency has been resolved. Diluted net income per share is computed using the weighted average number of Common Shares and stock equivalents outstanding using the treasury stock method during the year (see note 21 "Earnings Per Share" for more details). Share-based payment We measure share-based compensation costs, in accordance with ASC Topic 718, “Compensation - Stock Compensation” (Topic 718) on the grant date, based on the calculated fair value of the award. We have elected to treat awards with graded vesting as a single award when estimating fair value. Compensation cost is recognized on a straight-line basis over the employee requisite service period, which in our circumstances is the stated vesting period of the award, provided that total compensation cost recognized at least equals the pro-rata value of the award that has vested. Compensation cost is initially based on the estimated number of options for which the requisite service is expected to be rendered. This estimate is adjusted in the period once actual forfeitures are known (see note 12 "Share Capital, Option Plans and Share-based Payments" for more details). Accounting for Pensions, post-retirement and post-employment benefits Pension expense is accounted for in accordance with ASC Topic 715, “Compensation-Retirement Benefits” (Topic 715). Pension expense consists of: actuarially computed costs of pension benefits in respect of the current year of service, imputed returns on plan assets (for funded plans) and imputed interest on pension obligations. The expected costs of post retirement benefits, other than pensions, are accrued in the Consolidated Financial Statements based upon actuarial methods and assumptions. The over-funded or under-funded status of defined benefit pension and other post retirement plans are recognized as an asset or a liability (with the offset to “Accumulated other comprehensive income”, net of tax, within “Shareholders' equity”), respectively, on the Consolidated Balance Sheets (see note 11 "Pension Plans and Other Post Retirement Benefits" for more details). Accounting Pronouncements Adopted in Fiscal 2019 During Fiscal 2019, we adopted the following ASU's, in addition to those discussed in note 1 "Basis of Presentation". These ASU's did not have a material impact to our reported financial position, results of operations or cash flows: • ASU 2016-15 "Statement of Cash Flows (Topic 230) - Classification of Certain Cash Receipts and Cash Payments". When classifying distributions received from equity method investees, the Company uses the cumulative earnings approach. • ASU 2017-01 "Business Combinations (Topic 805): Clarifying the Definition of a Business" • ASU 2018-05 "Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118" Accounting Pronouncements Not Yet Adopted Retirement Benefits In August 2018, the Financial Accounting Standards Board (FASB) issued ASU No. 2018-14 “Compensation-Retirement Benefits-Defined Benefit Plans - General (Topic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans” (ASU 2018-14), which modifies the disclosure requirements for defined benefit pension plans and other post retirement plans. ASU 2018-14 is effective for us in the first quarter of our fiscal year ending June 30, 2021. We are currently evaluating the impact of our pending adoption of ASU 2018-14 on our consolidated financial statements. Implementation Costs in a Cloud Computing Arrangement In August 2018, the FASB issued ASU No. 2018-15 “Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract” (ASU 2018-15). ASU 2018-15 clarifies the accounting treatment for implementation costs incurred as a customer in cloud computing arrangements. We will adopt ASU 2018-15 in the first quarter of our fiscal year ending June 30, 2020. We do not expect the adoption of ASU 2018-15 will have a material impact to our consolidated financial statements. Financial Instruments In June 2016, the FASB issued ASU No. 2016-13 “Financial Instruments - Credit Losses (Topic 326)” and also issued subsequent amendments to the initial guidance under ASU 2018-19, ASU 2019-04 and ASU 2019-05 (collectively Topic 326). Topic 326 requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. This replaces the existing incurred loss model with an expected loss model and requires the use of forward looking information to calculate credit loss estimates. Topic 326 is effective for us in our first quarter of our fiscal year ending June 30, 2021 with earlier adoption permitted beginning in the first quarter of our fiscal year ending June 30, 2020. Topic 326 must be adopted by applying a cumulative effect adjustment to retained earnings. We are currently evaluating Topic 326, including its potential impact to our process and controls. We believe the effect on our consolidated financial statements will largely depend on the composition and credit quality of our financial assets and the economic conditions at the time of adoption. Leases In February 2016, the FASB issued ASU No. 2016-02 “Leases (Topic 842)” and issued subsequent amendments to the initial guidance under ASU 2017-13, ASU 2018-10, ASU 2018-11 and ASU 2018-20 (collectively, Topic 842). Topic 842 supersedes the guidance in former ASC Topic 840 “Leases”. Topic 842 requires companies to generally recognize on the balance sheet operating and financing lease liabilities and corresponding right-of-use (ROU) assets. For OpenText, the most significant change will result in the recognition of lease assets for the right to use the underlying asset and lease liabilities for the obligation to make lease payments by lessees, for those leases classified as operating leases under current guidance. Upon adoption, we expect to recognize ROU assets ranging from approximately $218 million to $228 million and lease liabilities ranging from approximately $255 million to $265 million . The new guidance will also require significant additional disclosures about the amount, timing and uncertainty of cash flows related to leases. We will adopt Topic 842 in the first quarter of our fiscal year ending June 30, 2020 using the modified retrospective transition and by applying the new standard to all leases existing at the date of initial adoption and not restating comparative periods, as allowed for under Topic 842. Upon adoption, we will also elect the transition provisions of permitted practical expedients, which among other things, allows the carryforward of the historical lease classification. Furthermore, upon adoption, we will make an accounting policy election that will keep leases with an initial term of 12 months or less off our Consolidated Balance Sheets and we will recognize these short-term lease payments in the Consolidated Statements of Operations on a straight-line basis over the lease term.

Revenues

Revenues12 Months Ended
Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
REVENUESREVENUES In accordance with Topic 606, we account for a customer contract when we obtain written approval, the contract is committed, the rights of the parties, including the payment terms, are identified, the contract has commercial substance and consideration is probable of collection. Revenue is recognized when, or as, control of a promised product or service is transferred to our customers in an amount that reflects the consideration we expect to be entitled to in exchange for our products and services (at its transaction price). Estimates of variable consideration and the determination of whether to include estimated amounts in the transaction price are based on readily available information, which may include historical, current and forecasted information, taking into consideration the type of customer, the type of transaction and specific facts and circumstances of each arrangement. We report revenue net of any revenue-based taxes assessed by governmental authorities that are imposed on and concurrent with specific revenue producing transactions. We have four revenue streams: license, cloud services and subscriptions, customer support, and professional service and other. License revenue Our license revenue can be broadly categorized as perpetual licenses, term licenses and subscription licenses, all of which are deployed on the customer’s premises (on-premise). Perpetual licenses: We sell perpetual licenses which provide customers the right to use software for an indefinite period of time in exchange for a one-time license fee, which is generally paid at contract inception. Our perpetual licenses provide a right to use intellectual property (IP) that is functional in nature and have significant stand-alone functionality. Accordingly, for perpetual licenses of functional IP, revenue is recognized at the point-in-time when control has been transferred to the customer, which normally occurs once software activation keys have been made available for download. Term licenses and Subscription licenses: We sell both term and subscription licenses which provide customers the right to use software for a specified period in exchange for a fee, which may be paid at contract inception or paid in installments over the period of the contract. Like perpetual licenses, both our term licenses and subscription licenses are functional IP that have significant stand-alone functionality. Accordingly, for both term and subscription licenses, revenue is recognized at the point-in-time when the customer is able to use and benefit from the software, which is normally once software activation keys have been made available for download at the commencement of the term. Cloud services and subscriptions revenue Cloud services and subscriptions revenue are from hosting arrangements where in connection with the licensing of software, the end user doesn’t take possession of the software, as well as from end-to-end fully outsourced business-to-business (B2B) integration solutions to our customers (collectively referred to as cloud arrangements). The software application resides on our hardware or that of a third party, and the customer accesses and uses the software on an as-needed basis. Our cloud arrangements can be broadly categorized as "platform as a service" (PaaS), "software as a service" (SaaS), cloud subscriptions and managed services. PaaS/ SaaS/ Cloud Subscriptions (collectively referred to here as cloud-based solutions): We offer cloud-based solutions that provide customers the right to access our software through the internet. Our cloud-based solutions represent a series of distinct services that are substantially the same and have the same pattern of transfer to the customer. These services are made available to the customer continuously throughout the contractual period, however, the extent to which the customer uses the services may vary at the customer’s discretion. The payment for cloud-based solutions may be received either at inception of the arrangement, or over the term of the arrangement. These cloud-based solutions are considered to have a single performance obligation where the customer simultaneously receives and consumes the benefit, and as such we recognize revenue for these cloud-based solutions ratably over the term of the contractual agreement. For example, revenue related to cloud-based solutions that are provided on a usage basis, such as the number of users, is recognized based on a customer’s utilization of the services in a given period. Additionally, a software license is present in a cloud-based solutions arrangement if all of the following criteria are met: (i) The customer has the contractual right to take possession of the software at any time without significant penalty; and (ii) It is feasible for the customer to host the software independent of us. In these cases where a software license is present in a cloud-based solutions arrangement it is assessed to determine if it is distinct from the cloud-based solutions arrangement. The revenue allocated to the distinct software license would be recognized at the point in time the software license is transferred to the customer, whereas the revenue allocated to the hosting performance obligation would be recognized ratably on a monthly basis over the contractual term unless evidence suggests that revenue is earned, or obligations are fulfilled in a different pattern over the contractual term of the arrangement. Managed services: We provide comprehensive B2B process outsourcing services for all day-to-day operations of a customers’ B2B integration program. Customers using these managed services are not permitted to take possession of our software and the contract is for a defined period, where customers pay a monthly or quarterly fee. Our performance obligation is satisfied as we provide services of operating and managing a customer's electronic data interchange (EDI) environment. Revenue relating to these services is recognized using an output method based on the expected level of service we will provide over the term of the contract. In connection with cloud subscription and managed service contracts, we often agree to perform a variety of services before the customer goes live, such as for example, converting and migrating customer data, building interfaces and providing training. These services are considered an outsourced suite of professional services which can involve certain project-based activities. These services can be provided at the initiation of a contract, during the implementation or on an ongoing basis as part of the customer life cycle. These services can be charged separately on a fixed fee or time and materials basis, or the costs associated may be recovered as part of the ongoing cloud subscription or managed services fee. These outsourced professional services are considered to be distinct from the ongoing hosting services and represent a separate performance obligation within our cloud subscription or managed services arrangements. The obligation to provide outsourced professional services is satisfied over time, with the customer simultaneously receiving and consuming the benefits as we satisfy our performance obligations. For outsourced professional services, we recognize revenue by measuring progress toward the satisfaction of our performance obligation. Progress for services that are contracted for a fixed price is generally measured based on hours incurred as a portion of total estimated hours. As a practical expedient, when we invoice a customer at an amount that corresponds directly with the value to the customer of our performance to date, we recognize revenue at that amount. Customer support revenue Customer support revenue is associated with perpetual, term license and on-premise subscription arrangements. As customer support is not critical to the customer's ability to derive benefit from its right to use our software, customer support is considered as a distinct performance obligation when sold together in a bundled arrangement along with the software. Customer support consists primarily of technical support and the provision of unspecified updates and upgrades on a when-and-if-available basis. Customer support for perpetual licenses is renewable, generally on an annual basis, at the option of the customer. Customer support for term and subscription licenses is renewable concurrently with such licenses for the same duration of time. Payments for customer support are generally made at the inception of the contract term or in installments over the term of the maintenance period. Our customer support team is ready to provide these maintenance services, as needed, to the customer during the contract term. As the elements of customer support are delivered concurrently and have the same pattern of transfer, customer support is accounted for as a single performance obligation. The customer benefits evenly throughout the contract period from the guarantee that the customer support resources and personnel will be available to them, and that any unspecified upgrades or unspecified future products developed by us will be made available. Revenue for customer support is recognized ratably over the contract period based on the start and end dates of the maintenance term, in line with how we believe services are provided. Professional service and other revenue Our professional services, when offered along with software licenses, consists primarily of technical services and training services. Technical services may include installation, customization, implementation or consulting services. Training services may include access to online modules or delivering a training package customized to the customer’s needs. At the customer’s discretion, we may offer one, all, or a mix of these services. Payment for professional services is generally a fixed fee or is a fee based on time and materials. Professional services can be arranged in the same contract as the software license or in a separate contract. As our professional services do not significantly change the functionality of the license and our customers can benefit from our professional services on their own or together with other readily available resources, we consider professional services as distinct within the context of the contract. Professional service revenue is recognized over time so long as: (i) the customer simultaneously receives and consumes the benefits as we perform them, (ii) our performance creates or enhances an asset the customer controls as we perform, and (iii) our performance does not create an asset with alternative use and we have enforceable right to payment. If all of the above criteria are met, we use an input-based measure of progress for recognizing professional service revenue. For example we may consider total labor hours incurred compared to total expected labor hours. As a practical expedient, when we invoice a customer at an amount that corresponds directly with the value to the customer of our performance to date, we will recognize revenue at that amount. Material rights To the extent that we grant our customer an option to acquire additional products or services in one of our arrangements, we will account for the option as a distinct performance obligation in the contract only if the option provides a material right to the customer that the customer would not receive without entering into the contract. For example if we give the customer an option to acquire additional goods or services in the future at a price that is significantly lower than the current price, this would be a material right as it allows the customer to, in effect, pay in advance for the option to purchase future products or services. If a material right exists in one of our contracts then revenue allocated to the option is deferred and we would recognize revenue only when those future products or services are transferred or when the option expires. Based on history, our contracts do not typically contain material rights and when they do, the material right is not significant to our consolidated financial statements. Arrangements with multiple performance obligations Our contracts generally contain more than one of the products and services listed above. Determining whether goods and services are considered distinct performance obligations that should be accounted for separately or as a single performance obligation may require judgment, specifically when assessing whether both of the following two criteria are met: • the customer can benefit from the product or service either on its own or together with other resources that are readily available to the customer; and • our promise to transfer the product or service to the customer is separately identifiable from other promises in the contract. If these criteria are not met, we determine an appropriate measure of progress based on the nature of our overall promise for the single performance obligation. If these criteria are met, each product or service is separately accounted for as a distinct performance obligation and the total transaction price is allocated to each performance obligation on a relative standalone selling price (SSP) basis. Standalone selling price The SSP reflects the price we would charge for a specific product or service if it was sold separately in similar circumstances and to similar customers. In most cases we are able to establish the SSP based on observable data. We typically establish a narrow SSP range for our products and services and assess this range on a periodic basis or when material changes in facts and circumstances warrant a review. If the SSP is not directly observable, then we estimate the amount using either the expected cost plus a margin or residual approach. Estimating SSP requires judgment that could impact the amount and timing of revenue recognized. SSP is a formal process whereby management considers multiple factors including, but not limited to, geographic or regional specific factors, competitive positioning, internal costs, profit objectives, and pricing practices. Transaction Price Allocation In bundled arrangements, where we have more than one distinct performance obligation, we must allocate the transaction price to each performance obligation based on its relative SSP. However, in certain bundled arrangements, the SSP may not always be directly observable. For instance, in bundled arrangements with license and customer support, we allocate the transaction price between the license and customer support performance obligations using the residual approach because we have determined that the SSP for licenses in these arrangements are highly variable. We use the residual approach only for our license arrangements. When the SSP is observable but contractual pricing does not fall within our established SSP range, then an adjustment is required and we will allocate the transaction price between license and customer support at a constant ratio reflecting the mid-point of the established SSP range. When two or more contracts are entered into at or near the same time with the same customer, we evaluate the facts and circumstances associated with the negotiation of those contracts. Where the contracts are negotiated as a package, we will account for them as a single arrangement and allocate the consideration for the combined contracts among the performance obligations accordingly. Sales to resellers We execute certain sales contracts through resellers, distributors and channel partners (collectively referred to as resellers). For these type of agreements, we assess whether we are considered the principal or the agent in the arrangement. We consider factors such as, but not limited to, whether or not the reseller has the ability to set the price for which they sell our software products to end users and whether or not resellers distribution rights are limited such that any potential sales are subject to OpenText’s review and approval before delivery of the software product can be made. If we determine that we are the principal in the arrangement, then revenue is recognized based on the transaction price for the sale of the software product to the end user at the gross amount. If that is not known, then the net amount received from the reseller is the transaction price. If we determine that we are the agent in the agreement, then revenue is recognized based on the transaction price for the sale of the software product to the reseller, less any applicable commissions paid or discounts or rebates, if offered. Costs or commissions paid to the reseller would be recognized as a reduction of revenue unless we received a distinct good or service in return. Similarly, any discounts or rebates offered by the reseller would be recognized as a reduction of revenue. Typically, we conclude that we are the principal in our reseller agreements, as we have control over the service and products prior to being transferred to the end customer. We also assess the creditworthiness of each reseller and if they are newly formed, undercapitalized or in financial difficulty, we defer any revenues expected to emanate from such reseller and recognize revenue only when cash is received, and all other revenue recognition criteria under Topic 606 are met. Rights of return and other incentives We do not generally offer rights of return or any other incentives such as concessions, product rotation, or price protection and, therefore, do not provide for or make estimates of rights of return and similar incentives. In some contracts, however, discounts may be offered to the customer for future software purchases and other additional products or services. Such arrangements grant the customer an option to acquire additional goods or services in the future at a discount and therefore are evaluated under guidance related to “material rights” as discussed above. Other policies Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 60 days of the invoice date. In certain arrangements, we will receive payment from a customer either before or after the performance obligation to which the invoice relates has been satisfied. As a practical expedient, we do not account for significant financing components if the period between when we transfer the promised good or service to the customer and when the customer pays for the product or service will be one year or less. On that basis, our contracts for license and maintenance typically do not contain a significant financing component, however in determining the transaction price we consider whether we need to adjust the promised consideration for the effects of the time value of money if the timing of payments provides either the customer or OpenText with a significant benefit of financing. Our managed services contracts may not include an upfront charge for outsourced professional services performed as part of an implementation and are recovered through an ongoing fee. Therefore, these contracts may be expected to have a financing component associated with revenue being recognized in advance of billings. We may modify contracts to offer customers additional products or services. The additional products and services will be considered distinct from those products or services transferred to the customer before the modification and will be accounted for as a separate contract. We evaluate whether the price for the additional products and services reflects the SSP adjusted as appropriate for facts and circumstances applicable to that contract. In determining whether an adjustment is appropriate, we evaluate whether the incremental consideration is consistent with the prices previously paid by the customer or similar customers. Performance Obligations A summary of our typical performance obligations and when the obligations are satisfied are as follows: Performance Obligation When Performance Obligation is Typically Satisfied License revenue: Software licenses (Perpetual,Term, Subscription) When software activation keys have been made available for download (point in time) Cloud services and subscriptions revenue: Outsourced Professional Services As the services are provided (over time) Managed Services / Ongoing Hosting Over the contract term, beginning on the date that service is made available (i.e. "Go live") to the customer (over time) Customer support revenue: When and if available updates and upgrades and technical support Ratable over the course of the service term (over time) Professional service and other revenue: Professional services As the services are provided (over time) Disaggregation of Revenue The following table disaggregates our revenue by significant geographic area, based on the location of our end customer, and by type of performance obligation and timing of revenue recognition for the periods indicated: Year Ended June 30, 2019 Total Revenues by Geography: Americas (1) $ 1,683,282 EMEA (2) 920,422 Asia Pacific (3) 265,051 Total Revenues $ 2,868,755 Total Revenues by Type of Performance Obligation: Recurring revenue (4) Cloud services and subscriptions revenue $ 907,812 Customer support revenue 1,247,915 Total recurring revenues $ 2,155,727 License revenue (perpetual, term and subscriptions) 428,092 Professional service and other revenue 284,936 Total revenues $ 2,868,755 Total Revenues by Timing of Revenue Recognition Point in time 428,092 Over time (including professional service and other revenue) 2,440,663 Total revenues $ 2,868,755 (1) Americas consists of countries in North, Central and South America. (2) EMEA primarily consists of countries in Europe, the Middle East and Africa. (3) Asia Pacific primarily consists of the countries Japan, Australia, China, Korea, Philippines, Singapore 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 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 June 30, 2019 As of July 1, 2018 Short-term contract assets $ 20,956 $ 5,474 Long-term contract assets $ 15,386 $ 12,382 Short-term deferred revenue $ 641,656 $ 618,197 Long-term deferred revenue $ 46,974 $ 64,743 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 the customer’s payments. We fulfill our obligations under a contract with a customer by transferring products and services in exchange for consideration from the customer. During the year ended June 30, 2019 , we reclassified $19.2 million of contract assets to receivables as a result of the right to the transaction consideration becoming unconditional. During the year ended June 30, 2019 , there was no significant impairment loss recognized related to contract assets. We recognize deferred revenue when we have received consideration or an amount of consideration is due from the customer for future obligations to transfer products or services. Our deferred revenues primarily relate to customer support agreements which have been paid for by customers prior to the performance of those services. The amount of revenue that was recognized during the year ended June 30, 2019 that was included in the deferred revenue balances at July 1, 2018 was approximately $617 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. We have determined that certain of our commission programs meet the requirements to be capitalized. Some commission programs are not subject to capitalization as the commission expense is paid and recognized as the related revenue is recognized. In assessing costs to obtain a contract, we apply a practical expedient that allows us to assess our incremental costs on a portfolio of contracts with similar characteristics instead of assessing the incremental costs on each individual contract. We do not expect the financial statement effects of applying this practical expedient to the portfolio of contracts to be materially different than if we were to apply the new standard to each individual contract. We pay commissions on the sale of new customer contracts as well as for renewals of existing contracts to the extent the renewals generate incremental revenue. Commissions paid on renewal contracts are limited to the incremental new revenue and therefore these payments are not commensurate with the commission paid on the original sale. We allocate commission costs to the performance obligations in an arrangement consistent with the allocation of the transaction price. Commissions allocated to the license performance obligation are expensed at the time the license revenue is recognized. Commissions allocated to professional service performance obligations are expensed as incurred, as these contracts are generally for one year or less and we apply a practical expedient to expense costs as incurred if the amortization period would have been one year or less. Commissions allocated to maintenance, managed services, on-going hosting arrangements or other recurring services, are capitalized and amortized consistent with the pattern of transfer to the customer of the services over the period expected to benefit from the commission payment. As commissions paid on renewals are not commensurate with the original sale, the period of benefit considers anticipated renewals. The benefit period is estimated to be approximately six years which is based on our customer contracts and the estimated life of our technology. Expenses for incremental costs associated with obtaining a contract are recorded within sales and marketing expense in the Consolidated Statements of Income . Our short term capitalized costs to obtain a contract are included in "Prepaid expenses and other assets", while our long-term capitalized costs to obtain a contract are included in "Other assets" on our Consolidated Balance Sheets . The following table summarizes the changes since July 1, 2018 : Capitalized costs to obtain a contract as of July 1, 2018 $ 35,151 New capitalized costs incurred 24,347 Amortization of capitalized costs (11,003 ) Adjustments on account of foreign exchange (211 ) Capitalized costs to obtain a contract as of June 30, 2019 $ 48,284 During the year ended June 30, 2019 there was no significant impairment loss recognized in relation to costs capitalized. Transaction Price Allocated to the Remaining Performance Obligations As of June 30, 2019 , approximately $1.1 billion of revenue is expected to be recognized from remaining performance obligations on existing contracts. We expect to recognize approximately 40% over the next 12 months and the remaining balance thereafter. We apply the practical expedient and do not disclose performance obligations that have original expected durations of one year or less. Impact on financial statements The following tables summarize the impacts of adopting Topic 606 on our consolidated balance sheets, statements of income and cash flows, all as compared to proforma balances illustrating if ASC Topic 605 "Revenue Recognition" (Topic 605) had still been in effect. Financial statement line items that were not impacted by the adoption of Topic 606 have been excluded from the tables below. Consolidated Balance Sheet As of June 30, 2019 As reported under Adjustments Proforma as if Topic 605 was in effect ASSETS Contract assets $ 20,956 $ (20,956 ) $ — Prepaid expenses and other current assets 97,238 4,428 101,666 Total current assets 1,561,328 (16,528 ) 1,544,800 Long-term contract assets 15,386 (15,386 ) — Deferred tax assets 1,004,450 16,631 1,021,081 Other assets 148,977 (5,614 ) 143,363 Total assets $ 7,933,975 $ (20,897 ) $ 7,913,078 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued liabilities $ 329,903 $ (55 ) $ 329,848 Deferred revenues 641,656 24,635 666,291 Total current liabilities 1,014,717 24,580 1,039,297 Long-term liabilities: Deferred revenues 46,974 32,170 79,144 Deferred tax liabilities 55,872 (8,178 ) 47,694 Total long-term liabilities 3,034,588 23,992 3,058,580 Shareholders’ equity: Accumulated other comprehensive income 24,124 1,260 25,384 Retained earnings 2,113,883 (70,729 ) 2,043,154 Total OpenText shareholders' equity 3,883,455 (69,469 ) 3,813,986 Non-controlling interests 1,215 — 1,215 Total shareholders’ equity 3,884,670 (69,469 ) 3,815,201 Total liabilities and shareholders’ equity $ 7,933,975 $ (20,897 ) $ 7,913,078 Consolidated Statements of Income Year Ended June 30, 2019 As reported under Adjustments Proforma as if Topic 605 was in effect Revenues: License $ 428,092 $ (37,709 ) $ 390,383 Cloud services and subscriptions 907,812 (6,361 ) 901,451 Customer support 1,247,915 (1,605 ) 1,246,310 Professional service and other 284,936 24 284,960 Total revenues 2,868,755 (45,651 ) 2,823,104 Cost of revenues: Cloud services and subscriptions 383,993 (338 ) 383,655 Professional service and other 224,635 5 224,640 Total cost of revenues 930,703 (333 ) 930,370 Gross profit 1,938,052 (45,318 ) 1,892,734 Operating expenses: Sales and marketing 518,035 8,945 526,980 Total operating expenses 1,371,042 8,945 1,379,987 Income from operations 567,010 (54,263 ) 512,747 Interest and other related expense, net (136,592 ) (801 ) (137,393 ) Income before income taxes 440,574 (55,064 ) 385,510 Provision for (recovery of) income taxes 154,937 (14,121 ) 140,816 Net income for the period $ 285,637 $ (40,943 ) $ 244,694 The adjustment on license revenue for the year ended June 30, 2019 of $37.7 million is primarily due to new contracts entered into during Fiscal 2019 for which a timing difference of revenue recognition exists between Topic 606 and Topic 605. See above for an explanation of how license revenues are recognized under Topic 606. The Fiscal 2019 contracts pertaining to the respective adjustments are recognized up front under Topic 606, whereas such revenues would have been recognized over time under Topic 605. Consolidated Statement of Cash Flows Year Ended June 30, 2019 As reported under Topic 606 Adjustments Proforma as if Topic 605 was in effect Cash flows from operating activities: Net income for the period $ 285,637 $ (40,943 ) $ 244,694 Adjustments to reconcile net income to net cash provided by operating activities: Deferred taxes 47,425 (14,165 ) 33,260 Changes in operating assets and liabilities: Accounts receivable 75,508 (18,883 ) 56,625 Contract assets (37,623 ) 37,623 — Prepaid expenses and other current assets (819 ) 3,319 2,500 Income taxes and deferred charges and credits 27,291 101 27,392 Accounts payable and accrued liabilities (21,732 ) 173 (21,559 ) Deferred revenue (1,827 ) 26,841 25,014 Other assets (4 ) 5,934 5,930 Net cash provided by operating activities $ 876,278 $ — $ 876,278

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts12 Months Ended
Jun. 30, 2019
Receivables [Abstract]
ALLOWANCE FOR DOUBTFUL ACCOUNTSALLOWANCE FOR DOUBTFUL ACCOUNTS Balance as of June 30, 2016 $ 6,740 Bad debt expense 5,929 Write-off /adjustments (6,350 ) Balance as of June 30, 2017 6,319 Bad debt expense 9,942 Write-off /adjustments (6,520 ) Balance as of June 30, 2018 9,741 Bad debt expense 13,461 Write-off /adjustments (6,191 ) Balance as of June 30, 2019 $ 17,011 Included in accounts receivable are unbilled receivables in the amount of $56.1 million as of June 30, 2019 ( June 30, 2018 — $55.5 million ).

Property and Equipment

Property and Equipment12 Months Ended
Jun. 30, 2019
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENTPROPERTY AND EQUIPMENT As of June 30, 2019 Cost Accumulated Depreciation Net Furniture and fixtures $ 40,260 $ (26,492 ) $ 13,768 Office equipment 1,993 (1,576 ) 417 Computer hardware 258,802 (177,402 ) 81,400 Computer software 119,018 (87,240 ) 31,778 Capitalized software development costs 95,729 (56,205 ) 39,524 Leasehold improvements 113,510 (66,520 ) 46,990 Land and buildings 49,557 (13,981 ) 35,576 Total $ 678,869 $ (429,416 ) $ 249,453 As of June 30, 2018 Cost Accumulated Depreciation Net Furniture and fixtures $ 34,647 $ (21,488 ) $ 13,159 Office equipment 1,467 (687 ) 780 Computer hardware 207,381 (134,906 ) 72,475 Computer software 97,653 (59,485 ) 38,168 Capitalized software development costs 81,073 (41,556 ) 39,517 Leasehold improvements 118,200 (55,172 ) 63,028 Land and buildings 47,880 (10,802 ) 37,078 Total $ 588,301 $ (324,096 ) $ 264,205

Goodwill

Goodwill12 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILLGOODWILL 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, 2017: Balance as at June 30, 2017 $ 3,416,749 Acquisition of Hightail (note 18) 7,293 Acquisition of Guidance (note 18) 129,800 Acquisition of Covisint (note 18) 26,905 Adjustments relating to acquisitions prior to Fiscal 2018 that had open measurement periods (note 18) (1,458 ) Adjustments on account of foreign exchange 840 Balance as of June 30, 2018 3,580,129 Acquisition of Catalyst Repository Systems Inc. (note 18) 30,973 Acquisition of Liaison Technologies, Inc. (note 18) 163,592 Adjustments on account of foreign exchange (4,786 ) Balance as of June 30, 2019 $ 3,769,908

Acquired Intangible Assets

Acquired Intangible Assets12 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
ACQUIRED INTANGIBLE ASSETSACQUIRED INTANGIBLE ASSETS As of June 30, 2019 Cost Accumulated Amortization Net Technology assets $ 835,498 $ (349,259 ) $ 486,239 Customer assets 1,397,937 (737,672 ) 660,265 Total $ 2,233,435 $ (1,086,931 ) $ 1,146,504 As of June 30, 2018 Cost Accumulated Amortization Net Technology assets $ 985,226 $ (439,774 ) $ 545,452 Customer assets 1,348,510 (597,325 ) 751,185 Total $ 2,333,736 $ (1,037,099 ) $ 1,296,637 Where applicable, the above balances as of June 30, 2019 have been reduced to reflect the impact of intangible assets where the gross cost has become fully amortized during the year ended June 30, 2019 . The impact of this resulted in a reduction of $49.5 million related to Customer assets and $273.9 million related to Technology assets. The weighted average amortization periods for acquired technology and customer intangible assets are approximately six years and eight 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, 2020 $ 322,009 2021 230,648 2022 211,093 2023 144,128 2024 95,876 2025 and beyond 142,750 Total $ 1,146,504

Other Assets

Other Assets12 Months Ended
Jun. 30, 2019
Other Assets, Noncurrent Disclosure [Abstract]
OTHER ASSETSOTHER ASSETS As of June 30, 2019 As of June 30, 2018 Deposits and restricted cash $ 13,671 $ 9,479 Deferred implementation costs — 13,740 Capitalized costs to obtain a contract 35,593 13,027 Investments 67,002 49,635 Long-term prepaid expenses and other long-term assets 32,711 25,386 Total $ 148,977 $ 111,267 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. Deferred implementation costs relate to direct and relevant costs on implementation of long-term contracts, to the extent such costs can be recovered through guaranteed contract revenues. As a result of the adoption of Topic 606, deferred implementation costs are no longer capitalized, but rather expensed as incurred as these costs do not relate to future performance obligations. Accordingly, these costs were adjusted through opening retained earnings as of July 1, 2018 (see note 3 "Revenues"). 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 non-marketable equity securities 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 is recorded as a component of other income (expense), net in our Consolidated Statements of Income . During the year ended June 30, 2019 , our share of income (loss) from these investments was $13.7 million ( year ended June 30, 2018 and 2017 — $6.0 million and $6.0 million , respectively). Long-term prepaid expenses and other long-term assets includes advance payments on long-term licenses that are being amortized over the applicable terms of the licenses and other miscellaneous assets.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities12 Months Ended
Jun. 30, 2019
Accounts Payable and Accrued Liabilities [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIESACCOUNTS PAYABLE AND ACCRUED LIABILITIES Current liabilities Accounts payable and accrued liabilities are comprised of the following: As of June 30, 2019 As of June 30, 2018 Accounts payable—trade $ 46,323 $ 41,722 Accrued salaries and commissions 131,430 118,024 Accrued liabilities 117,551 108,903 Accrued interest on Senior Notes 24,786 24,786 Amounts payable in respect of restructuring and other Special charges 8,153 5,622 Asset retirement obligations 1,660 3,097 Total $ 329,903 $ 302,154 Long-term accrued liabilities As of June 30, 2019 As of June 30, 2018 Amounts payable in respect of restructuring and other Special charges $ 4,804 $ 4,362 Other accrued liabilities* 30,338 35,874 Asset retirement obligations 14,299 12,591 Total $ 49,441 $ 52,827 * Other accrued liabilities consist primarily of tenant allowances, deferred rent and lease fair value adjustments relating to certain facilities acquired through business acquisitions. Asset retirement obligations We are required to return certain of our leased facilities to their original state at the conclusion of our lease. As of June 30, 2019 , the present value of this obligation was $16.0 million ( June 30, 2018 — $15.7 million ), with an undiscounted value of $17.6 million ( June 30, 2018 — $17.7 million ).

Long-Term Debt

Long-Term Debt12 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]
LONG-TERM DEBTLONG-TERM DEBT Long-term debt Long-term debt is comprised of the following: As of June 30, 2019 As of June 30, 2018 Total debt Senior Notes 2026 $ 850,000 $ 850,000 Senior Notes 2023 800,000 800,000 Term Loan B 987,500 997,500 Total principal payments due 2,637,500 2,647,500 Premium on Senior Notes 2026 5,405 6,018 Debt issuance costs (28,027 ) (32,995 ) Total amount outstanding 2,614,878 2,620,523 Less: Current portion of long-term debt Term Loan B 10,000 10,000 Total current portion of long-term debt 10,000 10,000 Non-current portion of long-term debt $ 2,604,878 $ 2,610,523 Senior Unsecured Fixed Rate Notes Senior Notes 2026 On May 31, 2016, we issued $600 million in aggregate principal amount of 5.875% Senior Notes due 2026 (Senior Notes 2026) 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 persons in offshore transactions pursuant to Regulation S under the Securities Act. Senior Notes 2026 bear interest at a rate of 5.875% per annum, payable semi-annually in arrears on June 1 and December 1, commencing on December 1, 2016. Senior Notes 2026 will mature on June 1, 2026, unless earlier redeemed, in accordance with their terms, or repurchased. On December 20, 2016, we issued an additional $250 million in aggregate principal amount by reopening our Senior Notes 2026 at an issue price of 102.75% . The additional notes have identical terms, are fungible with and are a part of a single series with the previously issued $600 million aggregate principal amount of Senior Notes 2026. The outstanding aggregate principal amount of Senior Notes 2026, after taking into consideration the additional issuance, is $850 million . For the year ended June 30, 2019 , we recorded interest expense of $49.9 million relating to Senior Notes 2026 ( year ended June 30, 2018 and 2017— $49.9 million and $43.1 million , respectively). Senior Notes 2023 On January 15, 2015, we issued $800 million in aggregate principal amount of 5.625% Senior Notes due 2023 (Senior Notes 2023) in an unregistered offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act, and to certain persons in offshore transactions pursuant to Regulation S under the Securities Act. Senior Notes 2023 bear interest at a rate of 5.625% per annum, payable semi-annually in arrears on January 15 and July 15, commencing on July 15, 2015. Senior Notes 2023 will mature on January 15, 2023, unless earlier redeemed, in accordance with their terms, or repurchased. For the year ended June 30, 2019 , we recorded interest expense of $45.0 million relating to Senior Notes 2023 ( year ended June 30, 2018 and 2017— $45.0 million , respectively). Term Loan B On May 30, 2018, we refinanced our existing term loan facility, by entering into a new $1 billion term loan facility (Term Loan B), whereby we borrowed $1 billion on that day and repaid in full the loans under our prior $800 million term loan facility originally entered into on January 16, 2014. Borrowings under Term Loan B are secured by a first charge over substantially all of our assets on a pari passu basis with the Revolver (defined below). Term Loan B has a seven year term, maturing in May 2025, and repayments made under Term Loan B are equal to 0.25% of the principal amount in equal quarterly installments for the life of Term Loan B, with the remainder due at maturity. Borrowings under Term Loan B currently bear a floating rate of interest equal to 1.75% plus LIBOR. As of June 30, 2019 , the outstanding balance on the Term Loan B bears an interest rate of approximately 4.19% . For the year ended June 30, 2019 , we recorded interest expense of $41.1 million , respectively, relating to Term Loan B ( year ended June 30, 2018 and 2017— $27.9 million and $24.8 million , respectively). Revolver We currently have a $450 million committed revolving credit facility (the Revolver) with a maturity date of May 5, 2022. Borrowings under the Revolver are secured by a first charge over substantially all of our assets, on a pari passu basis with Term Loan B. 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 LIBOR plus a fixed margin dependent on our consolidated net leverage ratio ranging from 1.25% to 1.75% . As of June 30, 2019 , we have no outstanding balance on the Revolver. There was no activity during the year ended June 30, 2019 and we recorded no interest expense. During the year ended June 30, 2018 , we drew down $200 million from the Revolver, partially to finance acquisitions ( year ended June 30, 2017— $225 million ). Additionally, during the year ended June 30, 2018 , we repaid $375 million and recorded interest expense of $9.0 million relating to amounts drawn on the Revolver ( year ended June 30, 2017— $50 million and $2.6 million , respectively). Debt Issuance Costs and Premium on Senior Notes Debt issuance costs relate primarily to costs incurred for the purpose of obtaining our credit facilities and issuing our Senior Notes 2023 and Senior Notes 2026 (collectively referred to as the Senior Notes) and are being amortized over the respective terms of the Senior Notes and Term Loan B and the Revolver using the effective interest method.

Pension Plans and Other Post Re

Pension Plans and Other Post Retirement Benefits12 Months Ended
Jun. 30, 2019
Retirement Benefits [Abstract]
PENSION PLANS AND OTHER POST RETIREMENT BENEFITSPENSION PLANS AND OTHER POST RETIREMENT BENEFITS The following table provides details of our defined benefit pension plans and long-term employee benefit obligations for Open Text Document Technologies GmbH (CDT), GXS GmbH ( GXS GER ), GXS Philippines, Inc. ( GXS PHP ) and other plans as of June 30, 2019 and June 30, 2018 : As of June 30, 2019 Total benefit obligation Current portion of benefit obligation* Non-current portion of benefit obligation CDT defined benefit plan $ 35,836 $ 675 $ 35,161 GXS GER defined benefit plan 26,739 1,012 25,727 GXS PHP defined benefit plan 6,904 124 6,780 Other plans 8,052 481 7,571 Total $ 77,531 $ 2,292 $ 75,239 As of June 30, 2018 Total benefit obligation Current portion of benefit obligation* Non-current portion of benefit obligation CDT defined benefit plan $ 32,651 $ 655 $ 31,996 GXS GER defined benefit plan 25,382 1,027 24,355 GXS PHP defined benefit plan 3,853 138 3,715 Other plans 6,095 442 5,653 Total $ 67,981 $ 2,262 $ 65,719 * The current portion of the benefit obligation has been included within "Accrued salaries and commissions", all within "Accounts payable and accrued liabilities" in the Consolidated Balance Sheets (see note 9 "Accounts Payable and Accrued Liabilities"). Defined Benefit Plans CDT Plan CDT sponsors an unfunded defined benefit pension plan covering substantially all CDT employees (CDT plan) which provides for old age, disability and survivors’ benefits. Benefits under the CDT plan are generally based on age at retirement, years of service and the employee’s annual earnings. The net periodic cost of this pension plan is determined using the projected unit credit method and several actuarial assumptions, the most significant of which are the discount rate and estimated service costs. No contributions have been made since the inception of the plan. Actuarial gains or losses in excess of 10% of the projected benefit obligation are being amortized and recognized as a component of net periodic benefit costs over the average remaining service period of the plan's active employees. As of June 30, 2019 , there is approximately $0.9 million in accumulated other comprehensive income related to the CDT plan that is expected to be recognized as a component of net periodic benefit costs over the next fiscal year. GXS GER Plan As part of our acquisition of GXS Group, Inc. (GXS) in Fiscal 2014, we assumed an unfunded defined benefit pension plan covering certain German employees which provides for old age, disability and survivors' benefits. The GXS GER plan has been closed to new participants since 2006. Benefits under the GXS GER plan are generally based on a participant’s remuneration, date of hire, years of eligible service and age at retirement. The net periodic cost of this pension plan is determined using the projected unit credit method and several actuarial assumptions, the most significant of which are the discount rate and estimated service costs. No contributions have been made since the inception of the plan. Actuarial gains or losses in excess of 10% of the projected benefit obligation are being amortized and recognized as a component of net periodic benefit costs over the average remaining service period of the plan’s active employees. As of June 30, 2019 , there is approximately $0.3 million in accumulated other comprehensive income related to the GXS GER plan that is expected to be recognized as a component of net periodic benefit costs over the next fiscal year. GXS PHP Plan As part of our acquisition of GXS in Fiscal 2014, we assumed a primarily unfunded defined benefit pension plan covering substantially all of the GXS Philippines employees which provides for retirement, disability and survivors' benefits. Benefits under the GXS PHP plan are generally based on a participant’s remuneration, years of eligible service and age at retirement. The net periodic cost of this pension plan is determined using the projected unit credit method and several actuarial assumptions, the most significant of which are the discount rate and estimated service costs. Aside from an initial contribution which has a fair value of approximately $0.03 million as of June 30, 2019 , no additional contributions have been made since the inception of the plan. Actuarial gains or losses in excess of 10% of the projected benefit obligation are being amortized and recognized as a component of net periodic benefit costs over the average remaining service period of the plan’s active employees. As of June 30, 2019 , there is approximately $0.3 million in accumulated other comprehensive income related to the GXS PHP plan that is expected to be recognized as a component of net periodic benefit costs over the next fiscal year. The following are the details of the change in the benefit obligation for each of the above mentioned pension plans for the periods indicated: As of June 30, 2019 As of June 30, 2018 CDT GXS GER GXS PHP Total CDT GXS GER GXS PHP Total Benefit obligation—beginning of period $ 32,651 $ 25,382 $ 3,853 $ 61,886 $ 28,881 $ 23,730 $ 4,495 $ 57,106 Service cost 550 566 771 1,887 501 472 832 1,805 Interest cost 642 489 300 1,431 607 489 241 1,337 Benefits paid (626 ) (996 ) (140 ) (1,762 ) (580 ) (974 ) (141 ) (1,695 ) Actuarial (gain) loss 3,365 1,872 1,957 7,194 2,442 997 (1,313 ) 2,126 Foreign exchange (gain) loss (746 ) (574 ) 163 (1,157 ) 800 668 (261 ) 1,207 Benefit obligation—end of period 35,836 26,739 6,904 69,479 32,651 25,382 3,853 61,886 Less: Current portion (675 ) (1,012 ) (124 ) (1,811 ) (655 ) (1,027 ) (138 ) (1,820 ) Non-current portion of benefit obligation $ 35,161 $ 25,727 $ 6,780 $ 67,668 $ 31,996 $ 24,355 $ 3,715 $ 60,066 The following are details of net pension expense relating to the following pension plans: Year Ended June 30, 2019 2018 Pension expense: CDT GXS GER GXS PHP Total CDT GXS GER GXS PHP Total Service cost $ 550 $ 566 $ 771 $ 1,887 $ 501 $ 472 $ 832 $ 1,805 Interest cost 642 489 300 1,431 607 489 241 1,337 Amortization of actuarial (gains) and losses 696 130 (562 ) 264 541 72 (241 ) 372 Net pension expense $ 1,888 $ 1,185 $ 509 $ 3,582 $ 1,649 $ 1,033 $ 832 $ 3,514 In determining the fair value of the pension plan benefit obligations as of June 30, 2019 and June 30, 2018 , respectively, we used the following weighted-average key assumptions: As of June 30, 2019 As of June 30, 2018 CDT GXS GER GXS PHP CDT GXS GER GXS PHP Assumptions: Salary increases 2.50% 2.50% 6.50% 3.50% 3.50% 6.50% Pension increases 2.00% 2.00% N/A 2.00% 2.00% N/A Discount rate 1.32% 1.32% 5.00% 2.00% 2.00% 7.25% Normal retirement age 65-67 65-67 60 65-67 65-67 60 Employee fluctuation rate: to age 20 —% —% 12.19% —% —% 12.19% to age 25 —% —% 16.58% —% —% 16.58% to age 30 1.00% —% 13.97% 1.00% —% 13.97% to age 35 0.50% —% 10.77% 0.50% —% 10.77% to age 40 —% —% 7.39% —% —% 7.39% to age 45 0.50% —% 3.28% 0.50% —% 3.28% to age 50 0.50% —% —% 0.50% —% —% from age 51 1.00% —% —% 1.00% —% —% Anticipated pension payments under the pension plans for the fiscal years indicated below are as follows: Fiscal years ending June 30, CDT GXS GER GXS PHP 2020 $ 675 $ 1,012 $ 161 2021 758 1,011 153 2022 832 1,044 352 2023 933 1,043 208 2024 1,041 1,050 272 2025 to 2028 6,009 5,308 2,389 Total $ 10,248 $ 10,468 $ 3,535 Other Plans Other plans include defined benefit pension plans that are offered by certain of our foreign subsidiaries. Many of these plans were assumed through our acquisitions or are required by local regulatory requirements. These other plans are primarily unfunded, with the aggregate projected benefit obligation included in our pension liability. 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.

Share Capital, Option Plans and

Share Capital, Option Plans and Share-Based Payments12 Months Ended
Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE CAPITAL, OPTION PLANS AND SHARE-BASED PAYMENTSSHARE CAPITAL, OPTION PLANS AND SHARE-BASED PAYMENTS Cash Dividends For the year ended June 30, 2019 , pursuant to the Company’s dividend policy, we declared total non-cumulative dividends of $0.6300 per Common Share in the aggregate amount of $168.9 million , which we paid during the same period. For the year ended June 30, 2018 , pursuant to the Company’s dividend policy, we paid total non-cumulative dividends of $0.5478 per Common Share in the aggregate amount of $145.6 million . For the year ended June 30, 2017, pursuant to the Company’s dividend policy, we paid total non-cumulative dividends of $0.4770 per Common Share in the aggregate amount of $120.6 million . 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 Repurchase From time to time we may provide funds to an independent agent to facilitate repurchases of our Common Shares in connection with the settlement of awards under the Long-Term Incentive Plans (LTIP) or other plans. During the year ended June 30, 2019 , we repurchased 726,059 of our Common Shares in the open market, at a cost of approximately $26.5 million for potential reissuance under our LTIP or other plans ( year ended June 30, 2018 and 2017— nil and 244,240 , respectively, at a cost of nil and $8.2 million , respectively). See below for more details on our various plans. Reissuance During the year ended June 30, 2019 , we reissued and 613,524 Common Shares from treasury stock ( year ended June 30, 2018 and 2017— 411,276 and 409,922 Common Shares, respectively), in connection with the settlement of awards. Option Plans A summary of stock options outstanding under our 2004 stock option plan is set forth below. All numbers shown in the chart below have been adjusted, where applicable, to account for the two-for-one stock splits that occurred on October 22, 2003, February 18, 2014 and January 24, 2017. 2004 Stock Option Plan Date of inception Oct-04 Eligibility Eligible employees, as determined by the Board of Directors Options granted to date 32,398,418 Options exercised to date (17,663,048) Options cancelled to date (7,632,617) Options outstanding 7,102,753 Termination grace periods Immediately “for cause”; 90 days for any other reason; 180 days due to death Vesting schedule 25% per year, unless otherwise specified Exercise price range $13.19 - $40.20 Expiration dates 11/2/2019 to 5/7/2026 The following table summarizes information regarding stock options outstanding at June 30, 2019: Options Outstanding Options Exercisable Range of Exercise Prices Number of options Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number of options Weighted Average Exercise Price $ 13.19 - $ 24.78 516,429 2.72 $ 21.81 354,551 $ 21.33 24.79 - 26.53 562,200 1.76 25.18 562,200 25.18 26.54 - 27.46 1,230,000 1.39 27.09 330,000 27.09 27.47 - 30.06 768,566 3.52 28.96 466,254 28.61 30.07 - 32.75 680,000 3.73 32.36 27,500 30.37 32.76 - 34.48 760,620 5.11 33.79 224,875 33.66 34.49 - 35.61 849,118 5.51 34.61 204,372 34.61 35.62 - 38.26 380,000 6.54 37.19 6,250 36.50 38.27 - 39.51 730,820 6.10 39.27 — — 39.52 - 40.20 625,000 6.85 40.10 — — $ 13.19 - $ 40.20 7,102,753 4.10 $ 31.82 2,176,002 $ 27.44 Share-Based Payments Total share-based compensation expense for the periods indicated below is detailed as follows: Year Ended June 30, 2019 2018 2017 Stock options $ 10,232 $ 9,828 $ 12,196 Performance Share Units (issued under LTIP) 3,461 3,553 3,624 Restricted Share Units (issued under LTIP) 5,917 6,602 6,452 Restricted Share Units (other) 175 936 2,804 Deferred Share Units (directors) 3,133 2,921 2,849 Employee Share Purchase Plan 3,852 3,754 2,582 Total share-based compensation expense $ 26,770 $ 27,594 $ 30,507 Summary of Outstanding Stock Options As of June 30, 2019 , an aggregate of 7,102,753 options to purchase Common Shares were outstanding and an additional 9,397,479 options to purchase Common Shares were available for issuance under our stock option plans. Our stock options generally vest over four years and expire between seven and ten years from the date of the grant. Currently we also have options outstanding that vest over five years , as well as options outstanding that vest based on meeting certain market conditions. The exercise price of all our options is set at an amount that is not less than the closing price of our Common Shares on the NASDAQ on the trading day immediately preceding the applicable grant date. A summary of activity under our stock option plans for the year ended June 30, 2019 is as follows: Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (years) Aggregate Intrinsic Value ($’000s) Outstanding at June 30, 2018 7,078,435 $ 28.41 Granted 1,870,340 38.81 Exercised (1,472,031 ) 24.20 Forfeited or expired (373,991 ) 32.33 Outstanding at June 30, 2019 7,102,753 $ 31.82 4.10 $ 66,656 Exercisable at June 30, 2019 2,176,002 $ 27.44 3.03 $ 29,950 Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (years) Aggregate Intrinsic Value ($’000s) Outstanding at June 30, 2017 8,977,830 $ 24.57 Granted 1,322,340 34.60 Exercised (2,869,569 ) 18.94 Forfeited or expired (352,166 ) 30.81 Outstanding at June 30, 2018 7,078,435 $ 28.41 4.43 $ 48,405 Exercisable at June 30, 2018 2,482,288 $ 24.50 3.13 $ 26,539 We estimate the fair value of stock options using the Black-Scholes option-pricing model or, where appropriate, the Monte Carlo Valuation Method, 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 were as follows: Year Ended June 30, 2019 2018 2017 Weighted–average fair value of options granted $ 8.39 $ 7.58 $ 7.06 Weighted-average assumptions used: Expected volatility 25.72 % 26.95 % 28.32 % Risk–free interest rate 2.57 % 2.18 % 1.46 % Expected dividend yield 1.54 % 1.50 % 1.43 % Expected life (in years) 4.44 4.38 4.51 Forfeiture rate (based on historical rates) 6 % 6 % 5 % Average exercise share price $ 38.81 $ 34.60 $ 31.75 Derived service period (in years)* N/A N/A 1.79 *Options valued using Monte Carlo Valuation Method As of June 30, 2019 , the total compensation cost related to the unvested stock option awards not yet recognized was approximately $24.1 million , which will be recognized over a weighted-average period of approximately 3.0 years . No cash was used by us to settle equity instruments granted under share-based compensation arrangements in any of the periods presented. We have no t capitalized any share-based compensation costs as part of the cost of an asset in any of the periods presented. For the year ended June 30, 2019 , cash in the amount of $35.6 million was received as the result of the exercise of options granted under share-based payment arrangements. The tax benefit realized by us during the year ended June 30, 2019 from the exercise of options eligible for a tax deduction was $2.9 million . For the year ended June 30, 2018 , cash in the amount of $54.4 million was received as the result of the exercise of options granted under share-based payment arrangements. The tax benefit realized by us during the year ended June 30, 2018 from the exercise of options eligible for a tax deduction was $1.5 million . For the year ended June 30, 2017, cash in the amount of $20.8 million was received as the result of the exercise of options granted under share-based payment arrangements. The tax benefit realized by us during the year ended June 30, 2017 from the exercise of options eligible for a tax deduction was $2.2 million . Long-Term Incentive Plans We incentivize our executive officers, 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. Target RSUs become vested when an eligible employee remains employed throughout the vesting period. PSUs and RSUs granted under the LTIPs have been measured at fair value as of the effective date, consistent with Topic 718, and will be charged to share-based compensation expense over the remaining life of the plan. Stock options granted under the LTIPs have been measured using the Black-Scholes option-pricing model, consistent with Topic 718. We estimate the fair value of PSUs using the Monte Carlo pricing model and RSUs have been valued based upon their grant date fair value. As of June 30, 2019 , the total expected compensation cost related to the unvested LTIP awards not yet recognized was $13.3 million , which is expected to be recognized over a weighted average period of 1.8 years . LTIP grants that have recently vested, or have yet to vest, are described below. LTIP grants are referred to in this Annual Report on Form 10-K based upon the year in which the grants are expected to vest. Fiscal 2018 LTIP Grants made in Fiscal 2016 under the LTIP (collectively referred to as Fiscal 2018 LTIP), consisting of PSUs and RSUs, took effect in Fiscal 2016 starting on August 23, 2015. We settled the Fiscal 2018 LTIP by issuing 539,103 Common Shares from treasury stock during the three months ended December 31, 2018, with a cost of $13.8 million . Fiscal 2019 LTIP Grants made in Fiscal 2017 under the LTIP (collectively referred to as Fiscal 2019 LTIP), consisting of PSUs and RSUs, took effect in Fiscal 2017 starting on August 14, 2016. The Performance Conditions for vesting of the PSUs are based solely upon market conditions. The RSUs are employee service-based awards and vest over the life of the Fiscal 2019 LTIP. We expect to settle the Fiscal 2019 LTIP awards in stock. Fiscal 2020 LTIP Grants made in Fiscal 2018 under the LTIP (collectively referred to as Fiscal 2020 LTIP), consisting of PSUs and RSUs, took effect in Fiscal 2018 starting on August 7, 2017. The Performance Conditions for vesting of the PSUs are based solely upon market conditions. The RSUs are employee service-based awards and vest over the life of the Fiscal 2020 LTIP. We expect to settle the Fiscal 2020 LTIP awards in stock. Fiscal 2021 LTIP Grants made in Fiscal 2019 under the LTIP (collectively referred to as Fiscal 2021 LTIP), consisting of PSUs and RSUs, took effect in Fiscal 2019 starting on August 6, 2018. The Performance Conditions for vesting of the PSUs are based solely upon market conditions. The RSUs are employee service-based awards and vest over the life of the Fiscal 2021 LTIP. We expect to settle the Fiscal 2021 LTIP awards in stock. Restricted Share Units (RSUs) During the year ended June 30, 2019 , we did no t grant any RSUs to employees in accordance with employment and other agreements ( year ended June 30, 2018 and 2017— 4,464 and 19,300 RSUs, respectively). The RSUs vest over a specified contract date, typically three years from the respective date of grants. We expect to settle the awards in stock. During the year ended June 30, 2019 , we issued 22,627 Common Shares from treasury stock, with a cost of $0.7 million in connection with the settlement of these vested RSUs ( year ended June 30, 2018 and 2017— 98,625 and 70,000 Common Shares, respectively, with a cost of $2.1 million and $1.5 million , respectively). Deferred Stock Units (DSUs) During the year ended June 30, 2019 , we granted 100,271 DSUs to certain non-employee directors ( year ended June 30, 2018 and 2017— 87,501 and 91,680 DSUs, respectively). The DSUs were 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. During the year ended June 30, 2019 , we issued 51,794 Common Shares from treasury stock, with a cost of $2.0 million in connection with the settlement of vested DSUs ( year ended June 30, 2018 and 2017— nil DSUs, respectively). Employee Share Purchase Plan (ESPP) Our ESPP offers employees a purchase price discount of 15% . During the year ended June 30, 2019 , 696,091 Common Shares were eligible for issuance to employees enrolled in the ESPP ( year ended June 30, 2018 and 2017— 729,521 and 530,170 Common Shares, respectively). During the year ended June 30, 2019 , cash in the amount of approximately $22.2 million was received from employees relating to the ESPP ( year ended June 30, 2018 and 2017— $21.5 million and $14.8 million

Guarantees and Contingencies

Guarantees and Contingencies12 Months Ended
Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
GUARANTEES AND CONTINGENCIESGUARANTEES AND CONTINGENCIES We have entered into the following contractual obligations with minimum payments for the indicated fiscal periods as follows: Payments due between Total July 1, 2019— July 1, 2020— July 1, 2022— July 1, 2024 Long-term debt obligations (1) $ 3,408,565 $ 147,059 $ 292,156 $ 1,045,567 $ 1,923,783 Operating lease obligations (2) 318,851 72,853 106,394 59,441 80,163 Purchase obligations 11,280 8,364 2,747 169 — $ 3,738,696 $ 228,276 $ 401,297 $ 1,105,177 $ 2,003,946 (1) Includes interest up to maturity and principal payments. Please see note 10 "Long-Term Debt" for more details. (2) Net of $30.7 million of sublease income to be received from properties which we have subleased to third parties. Guarantees and Indemnifications We have entered into customer agreements which may include provisions to indemnify our customers against third party claims that our software products or services infringe certain third party intellectual property rights and for liabilities related to a breach of our confidentiality obligations. We have not made any material payments in relation to such indemnification provisions and have not accrued any liabilities related to these indemnification provisions in our Consolidated Financial Statements . Occasionally, we enter into financial guarantees with third parties in the ordinary course of our business, including, among others, guarantees relating to taxes and letters of credit on behalf of parties with whom we conduct business. Such agreements have not had a material effect on our results of operations, financial position or cash flows. Litigation We are currently involved in various claims and legal proceedings. Quarterly, we review the status of each significant legal matter and evaluate such matters to determine how they should be treated for accounting and disclosure purposes in accordance with the requirements of ASC Topic 450-20 "Loss Contingencies" (Topic 450-20). Specifically, this evaluation process includes the centralized tracking and itemization of the status of all our disputes and litigation items, discussing the nature of any litigation and claim, including any dispute or claim that is reasonably likely to result in litigation, with relevant internal and external counsel, and assessing the progress of each matter in light of its merits and our experience with similar proceedings under similar circumstances. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, we accrue a liability for the estimated loss in accordance with Topic 450-20. As of the date of this Annual Report on Form 10-K , the aggregate of such estimated losses 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. Contingencies IRS Matter As we have previously disclosed, the United States Internal Revenue Service (IRS) is examining certain of our tax returns for our fiscal year ended June 30, 2010 (Fiscal 2010) through our fiscal year ended June 30, 2012 (Fiscal 2012), and in connection with those examinations is reviewing our internal reorganization in Fiscal 2010 to consolidate certain intellectual property ownership in Luxembourg and Canada and our integration of certain acquisitions into the resulting structure. We also previously disclosed that the examinations may lead to proposed adjustments to our taxes that may be material, individually or in the aggregate, and that we have not recorded any material accruals for any such potential adjustments in our Consolidated Financial Statements . We previously disclosed that, as part of these examinations, on July 17, 2015 we received from the IRS an initial Notice of Proposed Adjustment (NOPA) in draft form, that, as revised by the IRS on July 11, 2018 proposes a one-time approximately $335 million increase to our U.S. federal taxes arising from the reorganization in Fiscal 2010 (the 2010 NOPA), plus penalties equal to 20% of the additional proposed taxes for Fiscal 2010, and interest at the applicable statutory rate published by the IRS. On July 11, 2018 , we also received, consistent with previously disclosed expectations, a draft NOPA proposing a one time approximately $80 million increase to our U.S. federal taxes for Fiscal 2012 (the 2012 NOPA) arising from the integration of Global 360 Holding Corp. into the structure that resulted from the internal reorganization in Fiscal 2010, plus penalties equal to 40% of the additional proposed taxes for Fiscal 2012, and interest. On January 7, 2019, we received from the IRS official notification of proposed adjustments to our taxable income for Fiscal 2010 and Fiscal 2012, together with the 2010 NOPA and 2012 NOPA in final form. In each case, such documentation was as expected and on substantially the same terms as provided for in the previously disclosed respective draft NOPAs, with the exception of an additional proposed penalty as part of the 2012 NOPA. A NOPA is an IRS position and does not impose an obligation to pay tax. We continue to strongly disagree with the IRS’ positions within the NOPAs and we are vigorously contesting the proposed adjustments to our taxable income, along with any proposed penalties and interest. As of our receipt of the final 2010 NOPA and 2012 NOPA, our estimated potential aggregate liability, as proposed by the IRS, including additional state income taxes plus penalties and interest that may be due, was approximately $770 million , comprised of approximately $455 million in U.S. federal and state taxes, approximately $130 million of penalties, and approximately $185 million of interest. Interest will continue to accrue at the applicable statutory rates until the matter is resolved and may be substantial. As previously disclosed and noted above, we strongly disagree with the IRS’ positions and we are vigorously contesting the proposed adjustments to our taxable income, along with the proposed penalties and interest. We are examining various alternatives available to taxpayers to contest the proposed adjustments, including through IRS Appeals and U.S. Federal court. Any such alternatives could involve a lengthy process and result in the incurrence of significant expenses. As of the date of this Annual Report on Form 10-K , we have not recorded any material accruals in respect of these examinations in our Consolidated Financial Statements . An adverse outcome of these tax examinations could have a material adverse effect on our financial position and results of operations. For additional information regarding the history of this IRS matter, please see Note 13 "Guarantees and Contingencies" in our Annual Report on Form 10-K for Fiscal 2018. 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 and Fiscal 2014. Assuming the utilization of available tax attributes (further described below), we estimate our potential aggregate liability, as of June 30, 2019 , in connection with the CRA's reassessments for Fiscal 2012, Fiscal 2013 and Fiscal 2014 to be limited to penalties and interest that may be due of approximately $25 million . The notices of reassessment for Fiscal 2012, Fiscal 2013 and Fiscal 2014 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. We strongly disagree with the CRA's positions and believe the reassessments of Fiscal 2012, Fiscal 2013 and Fiscal 2014 (including any penalties) are without merit. We have filed notices of objection for Fiscal 2012 and Fiscal 2013, and we are currently seeking competent authority consideration under applicable international treaties in respect of these reassessments. We intend to file the notice of objection for Fiscal 2014 shortly. Even if we are unsuccessful in challenging the CRA's reassessments to increase our taxable income for Fiscal 2012, Fiscal 2013 and Fiscal 2014, or potential reassessments that may be proposed for subsequent years currently under audit, 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. We will continue to vigorously contest the proposed adjustments to our taxable income and any penalty and interest assessments. As of the date of this Annual Report on Form 10-K , we have not recorded any accruals in respect of these reassessments in our Consolidated Financial Statements . 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 in respect of our international transactions, including the transfer pricing methodology applied to them. The CRA is currently auditing Fiscal 2015, Fiscal 2016 and Fiscal 2017 and have proposed to reassess Fiscal 2015 in a manner consistent with Fiscal 2012, Fiscal 2013 and Fiscal 2014. We are engaged in ongoing discussions with the CRA and continue to vigorously contest the CRA's audit positions. GXS Brazil Matter As previously disclosed and in connection with the intercompany charges between GXS Group, Inc. and its subsidiary, GXS Tecnologia da Informação (Brasil) Ltda., based on the historical transfer pricing studies, approximately $1.5 million accrued in relation to this matter became statute barred during the year ended June 30, 2019 and accordingly was released as a recovery under "Special charges". GXS India Matter Our Indian subsidiary, GXS India Technology Centre Private Limited (GXS India), is subject to potential assessments by Indian tax authorities in the city of Bangalore. GXS India has received assessment orders from the Indian tax authorities alleging that the transfer price applied to intercompany transactions was not appropriate. Based on advice from our tax advisors, we believe that the facts that the Indian tax authorities are using to support their assessment are incorrect. We have filed appeals and anticipate an eventual settlement with the Indian tax authorities. We have accrued $1.3 million to cover our anticipated financial exposure in this matter. Please also see Item 1A "Risk Factors" elsewhere in this Annual Report on Form 10-K.

Income Taxes

Income Taxes12 Months Ended
Jun. 30, 2019
Income Tax Disclosure [Abstract]
INCOME TAXESINCOME TAXES Our effective tax rate represents the net effect of the mix of income earned in various tax jurisdictions that are subject to a wide range of income tax rates. The following is a geographical breakdown of income before the provision for income taxes: Year Ended June 30, 2019 2018 2017 Domestic income (loss) $ 269,331 $ 238,405 $ 110,562 Foreign income 171,243 147,721 138,989 Income before income taxes $ 440,574 $ 386,126 $ 249,551 The provision for (recovery of) income taxes consisted of the following: Year Ended June 30, 2019 2018 2017 Current income taxes (recoveries): Domestic $ 7,862 $ 5,313 $ 12,238 Foreign 99,650 48,777 82,593 107,512 54,090 94,831 Deferred income taxes (recoveries): Domestic 52,889 61,678 (851,683 ) Foreign (5,464 ) 28,058 (19,512 ) 47,425 89,736 (871,195 ) Provision for (recovery of) income taxes $ 154,937 $ 143,826 $ (776,364 ) A reconciliation of the combined Canadian federal and provincial income tax rate with our effective income tax rate is as follows: Year Ended June 30, 2019 2018 2017 Expected statutory rate 26.5 % 26.5 % 26.5 % Expected provision for income taxes $ 116,752 $ 102,323 $ 66,131 Effect of foreign tax rate differences (1,344 ) 2,352 8,647 Change in valuation allowance (5,045 ) 1,779 520 Amortization of deferred charges — 4,242 6,298 Effect of permanent differences (577 ) 4,332 3,673 Effect of changes in unrecognized tax benefits 31,992 5,543 14,427 Effect of withholding taxes 2,097 7,927 3,845 Difference in tax filings from provision (250 ) 1,321 (7,836 ) Effect of U.S. tax reform — 19,037 — Effect of tax credits for research and development (13,550 ) (3,875 ) (2,643 ) Effect of accrual for undistributed earnings (13,112 ) (1,154 ) 5,613 Effect of Base Erosion and Anti-Abuse Tax (BEAT) 16,030 — — Other Items 5,473 (1 ) 1,075 Impact of internal reorganization of subsidiaries 16,471 — (876,114 ) $ 154,937 $ 143,826 $ (776,364 ) In Fiscal 2019, 2018 and 2017, respectively, substantially all the tax rate differential for international jurisdictions was driven by earnings in the United States. The effective tax rate decreased to a provision of 35.2% for the year ended June 30, 2019 , compared to 37.2% for the year ended June 30, 2018 . The increase in tax expense of $11.1 million was primarily due to the increase in net income taxed at foreign rates of $10.7 million , an increase of $26.4 million in reserves for unrecognized tax benefits, an increase of $16.1 million arising on the introduction of BEAT in Fiscal 2019, and an increase of $16.3 million relating to the tax impact of internal reorganizations of subsidiaries, partially offset by a the reversal of accruals for undistributed United States earnings of $14.8 million , the Fiscal 2018 impact of United States tax reform of $19.0 million which did not recur in Fiscal 2019, an increase in tax credits for research and development of $9.7 million , an increase of $6.8 million in the release of valuation allowance, a decrease of $5.8 million in the impact of withholding taxes in Fiscal 2019. The remainder of the difference was due to normal course movements and non-material items. In July 2016, we implemented a reorganization of our subsidiaries worldwide with the view to continuing to enhance operational and administrative efficiencies through further consolidated ownership, management, and development of our intellectual property (IP) in Canada, continuing to reduce the number of entities in our group and working towards our objective of having a single operating legal entity in each jurisdiction. A significant tax benefit of $876.1 million , associated primarily with the recognition of a net deferred tax asset arising from the entry of the IP into Canada, was recognized in the first quarter of Fiscal 2017. For more information relating to this, please refer to our Annual Report on Form 10-K for the year ended June 30, 2017. As of June 30, 2019, we have approximately $242.3 million of domestic non-capital loss carryforwards. In addition, we have $387.6 million of foreign non-capital loss carryforwards of which $53.8 million have no expiry date. The remainder of the domestic and foreign losses expires between 2020 and 2039 . In addition, investment tax credits of $58.6 million will expire between 2020 and 2039 . The primary components of the deferred tax assets and liabilities are as follows, for the periods indicated below: June 30, 2019 2018 Deferred tax assets Non-capital loss carryforwards $ 161,119 $ 129,436 Capital loss carryforwards 155 417 Undeducted scientific research and development expenses 137,253 123,114 Depreciation and amortization 683,777 829,369 Restructuring costs and other reserves 17,845 17,202 Deferred revenue 53,254 62,726 Other 59,584 57,461 Total deferred tax asset $ 1,112,987 $ 1,219,725 Valuation Allowance $ (77,328 ) $ (80,924 ) Deferred tax liabilities Scientific research and development tax credits $ (14,482 ) $ (13,342 ) Other (72,599 ) (82,668 ) Deferred tax liabilities $ (87,081 ) $ (96,010 ) Net deferred tax asset $ 948,578 $ 1,042,791 Comprised of: Long-term assets 1,004,450 1,122,729 Long-term liabilities (55,872 ) (79,938 ) $ 948,578 $ 1,042,791 We believe that sufficient uncertainty exists regarding the realization of certain deferred tax assets that a valuation allowance is required. We continue to evaluate our taxable position quarterly and consider factors by taxing jurisdiction, including but not limited to factors such as estimated taxable income, any historical experience of losses for tax purposes and the future growth of OpenText. The aggregate changes in the balance of our gross unrecognized tax benefits (including interest and penalties) were as follows: Unrecognized tax benefits as of July 1, 2017 $ 174,530 Increases on account of current year positions 6,483 Increases on account of prior year positions 17,794 Decreases due to settlements with tax authorities — Decreases due to lapses of statutes of limitations (20,995 ) Unrecognized tax benefits as of June 30, 2018 $ 177,812 Increases on account of current year positions 25,642 Increases on account of prior year positions 15,024 Decreases due to settlements with tax authorities — Decreases due to lapses of statutes of limitations (9,236 ) Unrecognized tax benefits as of June 30, 2019 $ 209,242 Included in the above tabular reconciliation are unrecognized tax benefits of $11.2 million relating to deferred tax assets in jurisdictions in which these deferred tax assets are offset with valuation allowances. The net unrecognized tax benefit excluding these deferred tax assets is approximately $198.1 million as of June 30, 2019 (June 30, 2018— $167.2 million ). We recognize interest expense and penalties related to income tax matters in income tax expense. For the year ended June 30, 2019 , 2018 and 2017, we recognized the following amounts as income tax-related interest expense and penalties: Year Ended June 30, 2019 2018 2017 Interest expense $ 10,512 $ 6,233 $ 13,028 Penalties expense (recoveries) 945 (191 ) 438 Total $ 11,457 $ 6,042 $ 13,466 The following amounts have been accrued on account of income tax-related interest expense and penalties: As of June 30, 2019 As of June 30, 2018 Interest expense accrued * $ 64,530 $ 54,058 Penalties accrued * $ 2,525 $ 2,438 * These balances have been included within "Long-term income taxes payable" within the Consolidated Balance Sheets . We believe that it is reasonably possible that the gross unrecognized tax benefits, as of June 30, 2019 , could decrease tax expense in the next 12 months by $17.5 million , relating primarily to the expiration of competent authority relief and tax years becoming statute barred for purposes of future tax examinations by local taxing jurisdictions. Our four most significant tax jurisdictions are Canada, the United States, Luxembourg and Germany. Our tax filings remain subject to audits by applicable tax authorities for a certain length of time following the tax year to which those filings relate. The earliest fiscal years open for examination are 2012 for Germany, 2010 for the United States, 2012 for Luxembourg, and 2012 for Canada. We are subject to tax audits in all major taxing jurisdictions in which we operate and currently have tax audits open in Canada, the United States, France, Germany, India, the United Kingdom and Belgium. On a quarterly basis we assess the status of these examinations and the potential for adverse outcomes to determine the adequacy of the provision for income and other taxes. Statements regarding the United States and Canada audits are included in note 13 "Guarantees and Contingencies" . The timing of the resolution of income tax audits is highly uncertain, and the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ from the amounts accrued. It is reasonably possible that within the next 12 months we will receive additional assessments by various tax authorities or possibly reach resolution of income tax audits in one or more jurisdictions. These assessments or settlements may or may not result in changes to our contingencies related to positions on tax filings. The actual amount of any change could vary significantly depending on the ultimate timing and nature of any settlements. We cannot currently provide an estimate of the range of possible outcomes. For more information relating to certain tax audits, please refer to note 13 "Guarantees and Contingencies" . As at June 30, 2019 , we have recognized a provision of $17.4 million ( June 30, 2018 — $28.5 million ) in respect of both additional foreign taxes or deferred income tax liabilities for 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. During the year ended June 30, 2019 , we reversed previous accruals related to the undistributed earnings of our United States subsidiaries in the amount of $14.8 million . These earnings are now considered to be permanently reinvested in the United States, as there is no expectation of future distributions of earnings in the foreseeable future. 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. On December 22, 2017, the United States enacted tax reform legislation through the Tax Cuts and Jobs Act, which significantly changed the existing US tax laws, including a reduction in the federal corporate tax rate from 35% to 21% , and the transition of US international taxation from a worldwide tax system to a partially territorial tax system. As a result of the enactment of the legislation, the Company incurred a one-time tax expense of $19.0 million in the year ended June 30, 2018, primarily related to the transition tax on accumulated foreign earnings and the re-measurement of certain deferred tax assets and liabilities. During the year ended June 30, 2019 , there was a reduction of $0.9 million to this amount, mainly attributable to evaluating the portion of our existing Alternative Minimum Tax (AMT) credit carryforwards expected to be refundable as a result of the repeal of corporate AMT. The portion of the tax expense attributable to the transition tax is payable over a period of up to eight years . In accordance with Staff Accounting Bulletin 118 “Income Tax Accounting Implications of the Tax Cuts and Jobs Act” (SAB 118), the Company completed its analysis of the impact of the Tax Cuts and Jobs Act by December 22, 2018. The Company's final determination of the total one-time tax expense as a result of the enactment of the Tax Cuts and Jobs Act is $18.1 million .

Fair Value Measurement

Fair Value Measurement12 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTFAIR 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 on a Recurring Basis: Our financial assets and liabilities measured at fair value on a recurring basis consisted of the following types of instruments as of June 30, 2019 and June 30, 2018 : June 30, 2019 June 30, 2018 Fair Market Measurements using: Fair Market Measurements using: June 30, 2019 Quoted prices in active markets for identical assets/ (liabilities) Significant other observable inputs Significant unobservable inputs June 30, 2018 Quoted prices in active markets for identical assets/ (liabilities) Significant other observable inputs Significant unobservable inputs (Level 1) (Level 2) (Level 3) (Level 1) (Level 2) (Level 3) Financial Assets: Derivative financial instrument asset (note 16) $ 736 N/A $ 736 N/A $ — N/A $ — N/A $ 736 N/A $ 736 N/A $ — N/A $ — N/A Financial Liabilities: Foreign currency forward contracts designated as cash flow hedges (note 16) $ — N/A $ — N/A $ (1,319 ) N/A $ (1,319 ) N/A $ — N/A $ — N/A $ (1,319 ) N/A $ (1,319 ) N/A Our valuation techniques used to measure the fair values of the derivative instruments, the counterparty to which has 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 cash and cash equivalents, along with our accounts receivable and accounts payable and accrued liabilities balances, are measured and recognized in our Consolidated Financial Statements at an amount that approximates their fair value (a Level 2 measurement) due to their short maturities. If applicable, we will recognize transfers between levels within the fair value hierarchy at the end of the reporting period in which the actual event or change in circumstance occurs. During the year ended June 30, 2019 and 2018 , we did not have any transfers between Level 1, Level 2 or Level 3. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis We measure certain assets and liabilities at fair value on a nonrecurring basis. These assets and liabilities are recognized at fair value when they are deemed to be other-than-temporarily impaired. During the year ended June 30, 2019 and 2018

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities12 Months Ended
Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIESDERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES Foreign Currency Forward Contracts 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 ASC Topic 815 “Derivatives and Hedging” (Topic 815). As the critical terms of the hedging instrument and of the entire hedged forecasted transaction are the same, in accordance with Topic 815, we have been able to conclude that changes in fair value or cash flows attributable to the risk being hedged are expected to completely offset at inception and on an ongoing basis. Accordingly, quarterly unrealized gains or losses on the effective portion of these forward contracts have been included within other comprehensive income. The fair value of the contracts, as of June 30, 2019 , is recorded within "Prepaid expenses and other current assets”. As of June 30, 2019 , the notional amount of forward contracts we held to sell U.S. dollars in exchange for Canadian dollars was $62.0 million ( June 30, 2018 — $47.1 million ). Fair Value of Derivative Instruments and Effect of Derivative Instruments on Financial Performance The effect of these derivative instruments on our Consolidated Financial Statements for the periods indicated below were as follows (amounts presented do not include any income tax effects). Fair Value of Derivative Instruments in the Consolidated Balance Sheets (see note 15 "Fair Value Measurement") As of June 30, 2019 As of June 30, 2018 Derivatives Balance Sheet Location Fair Value Fair Value Foreign currency forward contracts designated as cash flow hedges Prepaid expenses and other current assets (Accounts payable and accrued liabilities) $ 736 $ (1,319 ) Effects of Derivative Instruments on Income and Other Comprehensive Income (OCI) Year Ended June 30, 2019 Derivatives in Cash Flow Hedging Relationship Amount of Gain or (Loss) Location of Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Location of Amount of Gain or (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) Foreign currency forward contracts $ 22 Operating $ (2,033 ) N/A $ — Year Ended June 30, 2018 Derivatives in Cash Flow Hedging Relationship Amount of Gain or (Loss) Location of Amount of Gain or Location of Amount of Gain or (Loss) Recognized in Foreign currency forward contracts $ (647 ) Operating $ 1,846 N/A $ —

Special Charges (Recoveries)

Special Charges (Recoveries)12 Months Ended
Jun. 30, 2019
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-related costs and other charges. Year Ended June 30, 2019 2018 2017 Fiscal 2019 Restructuring Plan $ 28,318 $ — $ — Fiscal 2018 Restructuring Plan 515 10,154 — Fiscal 2017 Restructuring Plan 898 7,207 33,827 Restructuring Plans prior to Fiscal 2017 Restructuring Plan (620 ) 279 (340 ) Acquisition-related costs 5,625 4,805 15,938 Other charges (recoveries) 983 6,766 14,193 Total $ 35,719 $ 29,211 $ 63,618 Fiscal 2019 Restructuring Plan During Fiscal 2019, we began to implement restructuring activities to streamline our operations (Fiscal 2019 Restructuring Plan), including in connection with our recent acquisitions of Catalyst and Liaison, to take further steps to improve our operational efficiency. The Fiscal 2019 Restructuring Plan charges relate to workforce reductions and facility consolidations. These charges require management to make certain judgments and estimates regarding the amount and timing of restructuring charges or recoveries. Our estimated liability could change subsequent to its recognition, requiring adjustments to the expense and the liability recorded. On a quarterly basis, we conduct an evaluation of the related liabilities and expenses and revise our assumptions and estimates as appropriate. As of June 30, 2019 , we expect total costs to be incurred in conjunction with the Fiscal 2019 Restructuring Plan to be approximately $30.0 million , of which $28.3 million has already been recorded within "Special charges (recoveries)" to date. We do not expect to incur any further significant charges relating to this plan. A reconciliation of the beginning and ending liability for the year ended June 30, 2019 is shown below. Fiscal 2019 Restructuring Plan Workforce reduction Facility costs Total Balance payable as at June 30, 2018 $ — $ — $ — Accruals and adjustments 12,460 15,858 28,318 Cash payments (10,420 ) (4,739 ) (15,159 ) Non-cash adjustments — (3,393 ) (3,393 ) Foreign exchange (221 ) (2,438 ) (2,659 ) Balance payable as at June 30, 2019 $ 1,819 $ 5,288 $ 7,107 *non-cash adjustments primarily relate to the write-off of fixed assets associated with a restructured facility. Fiscal 2018 Restructuring Plan During Fiscal 2018 and in the context of our acquisitions of Covisint, Guidance and Hightail (each defined below), we began to implement restructuring activities to streamline our operations (collectively referred to as the Fiscal 2018 Restructuring Plan). The Fiscal 2018 Restructuring Plan charges relate to workforce reductions and facility consolidations. 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 plan, approximately $10.7 million has been recorded within "Special charges (recoveries)" to date. We do not expect to incur any further significant charges relating to this plan. A reconciliation of the beginning and ending liability for the year ended June 30, 2019 and 2018 is shown below. Fiscal 2018 Restructuring Plan Workforce reduction Facility costs Total Balance payable as at June 30, 2017 $ — $ — $ — Accruals and adjustments 8,511 1,643 10,154 Cash payments (8,845 ) (489 ) (9,334 ) Foreign exchange and other non-cash adjustments 892 11 903 Balance payable as at June 30, 2018 $ 558 $ 1,165 $ 1,723 Accruals and adjustments (20 ) 535 515 Cash payments (337 ) (928 ) (1,265 ) Foreign exchange and other non-cash adjustments (51 ) (286 ) (337 ) Balance payable as at June 30, 2019 $ 150 $ 486 $ 636 Fiscal 2017 Restructuring Plan During Fiscal 2017 and in the context of acquisitions made in Fiscal 2017, we began to implement restructuring activities to streamline our operations (collectively referred to as the Fiscal 2017 Restructuring Plan ). The Fiscal 2017 Restructuring Plan charges relate to workforce reductions and facility consolidations. 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 plan, $41.9 million has been recorded within "Special charges (recoveries)". We do not expect to incur any further significant charges relating to this plan. A reconciliation of the beginning and ending liability for the year ended June 30, 2019 and 2018 is shown below. Fiscal 2017 Restructuring Plan Workforce reduction Facility costs Total Balance payable as at June 30, 2017 $ 10,045 $ 1,369 $ 11,414 Accruals and adjustments 3,432 3,775 7,207 Cash payments (12,342 ) (1,627 ) (13,969 ) Foreign exchange and other non-cash adjustments 455 (86 ) 369 Balance payable as at June 30, 2018 $ 1,590 $ 3,431 $ 5,021 Accruals and adjustments (254 ) 1,152 898 Cash payments (213 ) (1,290 ) (1,503 ) Foreign exchange and other non-cash adjustments (77 ) (344 ) (421 ) Balance payable as at June 30, 2019 $ 1,046 $ 2,949 $ 3,995 Acquisition-related costs Included within "Special charges (recoveries)" for the year ended June 30, 2019 are costs incurred directly in relation to acquisitions in the amount of $5.6 million ( year ended June 30, 2018 and 2017— $4.8 million and $15.9 million , respectively). Other charges (recoveries) For the year ended June 30, 2019 , "Other charges" include (i) $1.1 million relating to one-time system implementation costs and (ii) $1.4 million relating to miscellaneous other charges. These charges were partially offset by a recovery of $1.5 million relating to certain pre-acquisition sales and use tax liabilities becoming statute barred. For the year ended June 30, 2018 , "Other charges" primarily include (i) $6.4 million relating to the set up of a broad ERP system and other system implementation costs and (ii) $4.9 million relating to miscellaneous other charges. These charges were partially offset by (i) $2.3 million relating to certain pre-acquisition sales and use tax liabilities that were recovered outside of the acquisition's one year measurement period and (ii) $2.2 million relating to certain pre-acquisition sales and use tax liabilities becoming statute barred. For the year ended June 30, 2017, "Other charges" primarily include (i) $11.0 million relating to the set up of a broad ERP system, (ii) a net charge of $6.5 million relating to commitment fees, (iii) $1.4 million relating to post-acquisition integration costs necessary to streamline an acquired company into our operations and (iv) $0.8 million relating to assets disposed in connection with a restructured facility. These charges were partially offset by (i) a recovery of $4.5 million relating to certain pre-acquisition sales and use tax liabilities being released upon becoming statute barred and (ii) $1.3 million relating to a recovery on certain interest on pre-acquisition liabilities becoming statute barred. The remaining amounts relate to miscellaneous other charges.

Acquisitions

Acquisitions12 Months Ended
Jun. 30, 2019
Business Combinations [Abstract]
ACQUISITIONSACQUISITIONS Fiscal 2019 Acquisitions Catalyst Repository Systems Inc. On January 31, 2019 , we acquired all of the equity interest in Catalyst for approximately $70.8 million in an all cash transaction. Catalyst is a leading provider of eDiscovery that designs, develops and supports market-leading cloud eDiscovery software. In accordance with ASC Topic 805 "Business Combinations" (Topic 805), this acquisition was accounted for as a business combination. We believe this acquisition complements and extends our Enterprise Information Management (EIM) portfolio. The results of operations of this acquisition have been consolidated with those of OpenText beginning January 31, 2019 . Preliminary Purchase Price Allocation The recognized amounts of identifiable assets acquired and liabilities assumed, based upon their preliminary fair values as of January 31, 2019 , are set forth below: Current assets $ 9,699 Non-current tangible assets 5,754 Intangible customer assets 30,607 Intangible technology assets 11,658 Liabilities assumed (17,891 ) Total identifiable net assets 39,827 Goodwill 30,973 Net assets acquired $ 70,800 The goodwill of approximately $31.0 million is primarily attributable to the synergies expected to arise after the acquisition. Of this goodwill, approximately $3.1 million is expected to be deductible for tax purposes. Included in total identifiable net assets is acquired deferred revenue with a fair value of $0.8 million , which represents our estimate of the fair value of the contractual obligations assumed based on a preliminary valuation. In arriving at this fair value, we reduced the acquired company’s original carrying value by an insignificant amount. The fair value of current assets acquired includes accounts receivable with a fair value of $10.8 million . The gross amount receivable was $11.8 million , of which $1.0 million is expected to be uncollectible. Acquisition-related costs for Catalyst included in "Special charges (recoveries)" in the Consolidated Financial Statements for the year ended June 30, 2019 were $1 million . The acquisition had no significant impact on revenues or net earnings for the year ended June 30, 2019 since the date of acquisition. Pro forma results of operations for this acquisition have not been presented because they are not material to the consolidated results of operations. The finalization of the purchase price allocation is pending the finalization of the valuation of fair value for the assets acquired and liabilities assumed, including tax balances. We expect to finalize this determination on or before our quarter ending December 31, 2019. Liaison Technologies, Inc. On December 17, 2018 , we acquired all of the equity interest in Liaison, a leading provider of cloud-based business to business integration, for approximately $310.6 million in an all cash transaction. In accordance with Topic 805, this acquisition was accounted for as a business combination. We believe this acquisition complements and extends our EIM portfolio. The results of operations of this acquisition have been consolidated with those of OpenText beginning December 17, 2018 . Preliminary Purchase Price Allocation The recognized amounts of identifiable assets acquired and liabilities assumed, based upon their preliminary fair values as of December 17, 2018 , are set forth below: Current assets $ 23,006 Non-current tangible assets 5,168 Intangible customer assets 68,300 Intangible technology assets 107,000 Liabilities assumed (56,423 ) Total identifiable net assets 147,051 Goodwill 163,592 Net assets acquired $ 310,643 The goodwill of approximately $163.6 million is primarily attributable to the synergies expected to arise after the acquisition. Of this goodwill, approximately $2.2 million is expected to be deductible for tax purposes. Included in total identifiable net assets is acquired deferred revenue with a fair value of $7.6 million , which represents our estimate of the fair value of the contractual obligations assumed based on a preliminary valuation. In arriving at this fair value, we reduced the acquired company’s original carrying value by an insignificant amount. The fair value of current assets acquired includes accounts receivable with a fair value of $20.5 million . The gross amount receivable was $22.2 million , of which $1.7 million is expected to be uncollectible. Acquisition-related costs for Liaison included in "Special charges (recoveries)" in the Consolidated Financial Statements for the year ended June 30, 2019 were $3.7 million . The acquisition had no significant impact on revenues or net earnings for the year ended June 30, 2019 since the date of acquisition. Pro forma results of operations for this acquisition have not been presented because they are not material to the consolidated results of operations. The finalization of the purchase price allocation is pending the finalization of the valuation of fair value for the assets acquired and liabilities assumed, including tax balances. We expect to finalize this determination on or before our quarter ending December 31, 2019. Fiscal 2018 Acquisitions Acquisition of Hightail, Inc. (Hightail) On February 14, 2018, we acquired all of the equity interest in Hightail, a leading cloud service provider for file sharing and creative collaboration, for approximately $20.5 million in an all cash transaction. In accordance with Topic 805, this acquisition was accounted for as a business combination. We believe this acquisition complements and extends our EIM portfolio. The results of operations of this acquisition have been consolidated with those of OpenText beginning February 14, 2018. Purchase Price Allocation The recognized amounts of identifiable assets acquired and liabilities assumed, based upon their fair values as of February 14, 2018, are set forth below: Current assets $ 1,290 Non-current tangible assets 1,270 Intangible customer assets 12,900 Intangible technology assets 4,200 Liabilities assumed (6,418 ) Total identifiable net assets 13,242 Goodwill 7,293 Net assets acquired $ 20,535 The goodwill of approximately $7.3 million is primarily attributable to the synergies expected to arise after the acquisition. No portion of this goodwill is expected to be deductible for tax purposes. Included in total identifiable net assets is acquired deferred revenue with a fair value of $5.2 million , which represents our estimate of the fair value of the contractual obligations assumed. In arriving at this fair value, we reduced the acquired company’s original carrying value by $2.0 million . The fair value of current assets acquired includes accounts receivable with a fair value of $0.7 million . The gross amount receivable was $0.8 million of which $0.1 million of this receivable is expected to be uncollectible. The finalization of the purchase price allocation during the year ended June 30, 2019 did not result in any significant changes to the preliminary amounts previously disclosed. Acquisition of Guidance Software, Inc. (Guidance) On September 14, 2017, we acquired all of the equity interest in Guidance, a leading provider of forensic security solutions, for approximately $240.5 million . In accordance with Topic 805, this acquisition was accounted for as a business combination. We believe this acquisition complements and extends our EIM portfolio. The results of operations of this acquisition have been consolidated with those of OpenText beginning September 14, 2017. The following tables summarize the consideration paid for Guidance and the amount of the assets acquired and liabilities assumed, as well as the goodwill recorded as of the acquisition date: Cash consideration* $ 237,291 Guidance shares already owned by OpenText through open market purchases (at fair value) 3,247 Purchase consideration $ 240,538 * Inclusive of $2.3 million previously accrued, but since paid as of September 30, 2018. See "Appraisal Proceedings" below for more information. Purchase Price Allocation The recognized amounts of identifiable assets acquired and liabilities assumed, based upon their fair values as of September 14, 2017, are set forth below: Current assets (inclusive of cash acquired of $5.7 million) $ 24,744 Non-current tangible assets 11,583 Intangible customer assets 71,230 Intangible technology assets 51,851 Liabilities assumed (48,670 ) Total identifiable net assets 110,738 Goodwill 129,800 Net assets acquired $ 240,538 The goodwill of approximately $129.8 million is primarily attributable to the synergies expected to arise after the acquisition. Of this goodwill, approximately $1.9 million is expected to be deductible for tax purposes. Included in total identifiable net assets is acquired deferred revenue with a fair value of $26.6 million , which represents our estimate of the fair value of the contractual obligations assumed. In arriving at this fair value, we reduced the acquired company’s original carrying value by $7.6 million . The fair value of current assets acquired includes accounts receivable with a fair value of $10.3 million . The gross amount receivable was $11.8 million of which $1.5 million of this receivable is expected to be uncollectible. An amount of $0.8 million , representing the mark to market gain on the shares we held in Guidance prior to the acquisition, was recorded to "Other income" in our Consolidated Statements of Income for the year ended June 30, 2018. The finalization of the purchase price allocation during the year ended June 30, 2019 did not result in any significant changes to the preliminary amounts previously disclosed. Appraisal Proceedings Under Section 262 of the Delaware General Corporation Law, shareholders who did not tender their shares in connection with our tender offer were entitled to have their shares appraised by the Delaware Court of Chancery and receive payment of the “fair value” of such shares. On August 31, 2017 we received notice from the record holder of approximately 1,519,569 shares or 5% of the issued and outstanding Guidance shares as of the date of acquisition, demanding an appraisal of the fair value of Guidance shares as they believed the price we paid for Guidance shares was less than its fair value. We accrued $10.8 million in connection with these claims, which is equivalent to paying $7.10 per Guidance share, the amount these Guidance shareholders otherwise would have received had they tendered their shares in our offer. During the second quarter of Fiscal 2018, we paid $8.5 million to the trust account of dissenting shareholders’ attorney, leaving $2.3 million previously accrued. During the three months ended September 30, 2018, these amounts were settled and released. On August 27, 2018, the appraisal petition was dismissed with prejudice. Acquisition of Covisint Corporation (Covisint) On July 26, 2017, we acquired all of the equity interest in Covisint, a leading cloud platform for building Identity, Automotive, and Internet of Things applications, for approximately $102.8 million in an all cash transaction. In accordance with Topic 805, this acquisition was accounted for as a business combination. We believe this acquisition complements and extends our EIM portfolio. The results of operations of this acquisition have been consolidated with those of OpenText beginning July 26, 2017. Purchase Price Allocation The recognized amounts of identifiable assets acquired and liabilities assumed, based upon their fair values as of July 26, 2017, are set forth below: Current assets (inclusive of cash acquired of $31.5 million) $ 41,586 Non-current tangible assets 3,426 Intangible customer assets 36,600 Intangible technology assets 17,300 Liabilities assumed (23,033 ) Total identifiable net assets 75,879 Goodwill 26,905 Net assets acquired $ 102,784 The goodwill of approximately $26.9 million is primarily attributable to the synergies expected to arise after the acquisition. Of this goodwill, approximately $26.8 million is expected to be deductible for tax purposes. Included in total identifiable net assets is acquired deferred revenue with a fair value of $12.2 million , which represents our estimate of the fair value of the contractual obligations assumed. In arriving at this fair value, we reduced the acquired company’s original carrying value by $4.6 million . The fair value of current assets acquired includes accounts receivable with a fair value of $7.8 million . The gross amount receivable was $7.9 million of which $0.1 million of this receivable was expected to be uncollectible. The finalization of the purchase price allocation was completed during Fiscal 2018 and did not result in any significant changes to the preliminary amounts previously disclosed. Fiscal 2017 Acquisitions Purchase of an Asset Group Constituting a Business - ECD Business On January 23, 2017 , we acquired certain assets and assumed certain liabilities of the enterprise content division of EMC Corporation, a Massachusetts corporation, and certain of its subsidiaries, collectively referred to as Dell-EMC (ECD Business) for approximately $1.62 billion . In accordance with Topic 805, this acquisition was accounted for as a business combination. ECD Business offers OpenText a suite of leading Enterprise Content Management solutions with deep industry focus, including the Documentum TM , InfoArchive TM , and LEAP TM product families. We believe this acquisition complements and extends our EIM portfolio. The results of operations of this acquisition were consolidated with those of OpenText beginning January 23, 2017 . Purchase Price Allocation The recognized amounts of identifiable assets acquired and liabilities assumed, based upon their fair values as of January 23, 2017 , are set forth below: Current assets $ 11,339 Non-current tangible assets 103,672 Intangible customer assets 407,000 Intangible technology assets 459,000 Liabilities assumed (182,301 ) Total identifiable net assets 798,710 Goodwill 823,684 Net assets acquired $ 1,622,394 The goodwill of $823.7 million is primarily attributable to the synergies expected to arise after the acquisition. Of this goodwill, approximately $378.5 million is expected to be deductible for tax purposes. Included in total identifiable net assets is acquired deferred revenue with a fair value of $163.8 million , which represents our estimate of the fair value of the contractual obligations assumed. In arriving at this fair value, we reduced the acquired company’s original carrying value by $52.0 million . Further, included within total identifiable net assets are also certain contract assets which represent revenue earned by the ECD Business on long-term projects for which billings had not yet occurred as of January 23, 2017. As these long-term projects have now been inherited by OpenText, we are responsible for billing and collecting cash on these projects at the appropriate time, yet we do not and will not recognize revenue for these billings. The fair value assigned to these contract assets as of January 23, 2017 was $8.4 million . Purchase of an Asset Group Constituting a Business - CCM Business On July 31, 2016 , we acquired certain customer communications management software and services assets and liabilities from HP Inc. (CCM Business) for approximately $315.0 million . In accordance with Topic 805, this acquisition was accounted for as a business combination. We believe this acquisition complements our current software portfolio, and allows us to better serve our customers by offering a wider set of CCM capabilities. The results of operations of this acquisition were consolidated with those of OpenText beginning July 31, 2016. Purchase Price Allocation The recognized amounts of identifiable assets acquired and liabilities assumed, based upon their fair values as of July 31, 2016, are set forth below: Current assets $ 683 Non-current deferred tax asset 11,861 Non-current tangible assets 2,348 Intangible customer assets 64,000 Intangible technology assets 101,000 Liabilities assumed (38,090 ) Total identifiable net assets 141,802 Goodwill 173,198 Net assets acquired $ 315,000 The goodwill of $173.2 million is primarily attributable to the synergies expected to arise after the acquisition. Of this goodwill, approximately $105.1 million is expected to be deductible for tax purposes. Acquisition of Recommind, Inc. O n July 20, 2016, we acquired all of the equity interest in Recommind, Inc. (Recommind), a leading provider of eDiscovery and information analytics, for approximately $170.1 million . In accordance with Topic 805, this acquisition was accounted for as a business combination. We believe this acquisition complements our EIM solutions, and through eDiscovery and analytics, provides increased visibility into structured and unstructured data. The results of operations of Recommind, were consolidated with those of OpenText beginning July 20, 2016. Purchase Price Allocation The recognized amounts of identifiable assets acquired and liabilities assumed, based upon their fair values as of July 20, 2016, are set forth below: Current assets $ 30,034 Non-current tangible assets 1,245 Intangible customer assets 51,900 Intangible technology assets 24,800 Long-term deferred tax liabilities (1,780 ) Other liabilities assumed (27,497 ) Total identifiable net assets 78,702 Goodwill 91,405 Net assets acquired $ 170,107 The goodwill of $91.4 million is primarily attributable to the synergies expected to arise after the acquisition. No portion of this goodwill is expected to be deductible for tax purposes. The fair value of current assets acquired includes accounts receivable with a fair value of $28.7 million . The gross amount receivable was $29.6 million of which $0.9 million of this receivable was expected to be uncollectible.

Segment Information

Segment Information12 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]
SEGMENT INFORMATIONSEGMENT INFORMATION ASC Topic 280, “Segment Reporting” (Topic 280), establishes standards for reporting, by public business enterprises, information about operating segments, products and services, geographic areas, and major customers. The method of determining what information, under Topic 280, to report is based on the way that an entity organizes operating segments for making operational decisions and how the entity’s management and chief operating decision maker (CODM) assess an entity’s financial performance. Our operations are analyzed by management and our CODM as being part of a single industry segment: the design, development, marketing and sales of Enterprise Information Management software and solutions. The following table sets forth the distribution of revenues, by significant geographic area, for the periods indicated: Year Ended June 30, 2019 2018 2017 Revenues: Canada $ 153,890 $ 149,812 $ 227,115 United States 1,490,863 1,425,244 1,090,049 United Kingdom 182,815 201,821 159,817 Germany 203,403 198,253 166,611 Rest of Europe 534,204 517,693 394,132 All other countries 303,580 322,418 253,333 Total revenues $ 2,868,755 $ 2,815,241 $ 2,291,057 The following table sets forth the distribution of long-lived assets, representing property and equipment and intangible assets, by significant geographic area, as of the periods indicated below. As of June 30, 2019 As of June 30, 2018 Long-lived assets: Canada $ 799,928 $ 1,027,858 United States 502,844 441,940 United Kingdom 10,068 13,253 Germany 6,310 8,282 Rest of Europe 31,455 17,104 All other countries 45,352 52,405 Total $ 1,395,957 $ 1,560,842

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures12 Months Ended
Jun. 30, 2019
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURESSUPPLEMENTAL CASH FLOW DISCLOSURES Year Ended June 30, 2019 2018 2017 Cash paid during the period for interest $ 138,631 $ 132,799 $ 115,117 Cash received during the period for interest $ 8,014 $ 1,672 $ 3,115 Cash paid during the period for income taxes $ 80,583 $ 73,437 $ 83,086

Earnings Per Share

Earnings Per Share12 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHAREEARNINGS 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. Year Ended June 30, 2019 2018 2017 Basic earnings per share Net income attributable to OpenText $ 285,501 $ 242,224 $ 1,025,659 (1) Basic earnings per share attributable to OpenText $ 1.06 $ 0.91 $ 4.04 Diluted earnings per share Net income attributable to OpenText $ 285,501 $ 242,224 $ 1,025,659 (1) Diluted earnings per share attributable to OpenText $ 1.06 $ 0.91 $ 4.01 Weighted-average number of shares outstanding (in 000's) Basic 268,784 266,085 253,879 Effect of dilutive securities 1,124 1,407 1,926 Diluted 269,908 267,492 255,805 Excluded as anti-dilutive (2) 2,759 2,770 1,371 (1) Please also see note 14 "Income Taxes" for details relating to a one-time tax benefit of $876.1 million recorded during the three months ended September 30, 2016 in connection with an internal reorganization of our subsidiaries. (2) 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.

Related Party Transactions

Related Party Transactions12 Months Ended
Jun. 30, 2019
Related Party Transaction, Due from (to) Related Party [Abstract]
RELATED PARTY TRANSACTIONSRELATED 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 year ended June 30, 2019 , Mr. Stephen Sadler, a director, earned approximately $0.6 million ( year ended June 30, 2018 and 2017— $0.8 million , respectively) in consulting fees from OpenText for assistance with acquisition-related business activities. Mr. Sadler abstained from voting on all transactions from which he would potentially derive consulting fees.

Subsequent Event

Subsequent Event12 Months Ended
Jun. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTSUBSEQUENT EVENT Cash Dividends As part of our quarterly, non-cumulative cash dividend program, we declared, on July 31, 2019 , a dividend of $0.1746 per Common Share. The record date for this dividend is August 30, 2019 and the payment date is September 20, 2019 . Future declarations of dividends and the establishment of future record and payment dates are subject to the final determination and discretion of our Board.

Accounting Policies and Recen_2

Accounting Policies and Recent Accounting Pronouncements (Policies)12 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]
Use of estimatesThe preparation of financial statements in conformity with U.S. GAAP requires us to make certain estimates, judgments and assumptions that affect the amounts reported in the Consolidated Financial Statements . These estimates, judgments and assumptions are evaluated on an ongoing basis. We base our estimates on historical experience and on various other assumptions that we believe are reasonable at that time, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from those estimates. In particular, key estimates, judgments and assumptions include those related to: (i) revenue recognition, (ii) accounting for income taxes, (iii) testing of goodwill for impairment, (iv) the valuation of acquired intangible assets, (v) the valuation of long-lived assets, (vi) the recognition of contingencies, (vii) restructuring accruals, (viii) acquisition accruals and pre-acquisition contingencies, (ix) the realization of investment tax credits, (x) the valuation of stock options granted and obligations related to share-based payments, including the valuation of our long-term incentive plans, and (xi) the valuation of pension obligations.
Accounting PronouncementsRevenue Recognition Effective July 1, 2018, we adopted Accounting Standards Codification (ASC) Topic 606 "Revenue from Contracts with Customers" (Topic 606) using the cumulative effect approach. We applied the accounting standard to contracts that were not completed as of the date of the initial adoption. Results for reporting periods commencing on July 1, 2018 are presented under the new revenue standard, while prior period results continue to be reported under the previous revenue standard. As a result of this adoption, we recorded a net increase of approximately $30 million to retained earnings as of July 1, 2018 on the Consolidated Balance Sheets, with the following corresponding impacts: • A decrease to deferred revenues of approximately $31 million ; • A decrease to other assets of approximately $22 million in connection with deferred implementation costs; • An increase to other assets of approximately $14 million in connection with the capitalization of sales commission costs; • An increase in contract assets of approximately $18 million representing future billings in excess of revenues; and • An increase in net deferred tax liabilities of approximately $11 million . Please refer to Note 3 "Revenues" for additional information relating to Topic 606, including our updated revenue recognition policies. Additionally, certain prior period balances have been reclassified within other assets on the Consolidated Balance Sheets, to conform to the current period presentation as a result of this adoption. Please refer to Note 8 "Other Assets" for details. Income Taxes Effective July 1, 2018, we adopted Accounting Standards Update (ASU) No. 2016-16, "Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory" (ASU 2016-16) which requires entities to recognize the income tax consequence of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. We adopted ASU 2016-16 on a modified retrospective basis through a cumulative-effect adjustment to opening retained earnings. Results for reporting periods effective as of July 1, 2018 are presented under the new standard, while prior period results continue to be reported under the previous standard. As a result of this adoption, we recorded a net decrease of approximately $27 million to retained earnings as of July 1, 2018 on the Consolidated Balance Sheets, with the following corresponding impacts: • A decrease to deferred charges of approximately $38 million ; • An increase to deferred tax assets of approximately $8 million ; and • A decrease to deferred credits of approximately $3 million . There was no impact to the Consolidated Statements of Income, Consolidated Statements of Comprehensive Income or Consolidated Statements of Cash Flows as a result of this adoption. Restricted Cash Effective July 1, 2018, we adopted ASU No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash” (ASU 2016-18), which requires amounts described as restricted cash and cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts in the statement of cash flows. We adopted ASU 2016-18 using the retrospective method. As a result, certain prior period comparative figures in the Consolidated Statements of Cash Flows have been adjusted to conform to current period presentation as follows: Year Ended June 30, 2018 Year Ended June 30, 2017 As Previously Reported Adjustments As Adjusted As Previously Reported Adjustments As Adjusted Net cash provided by operating activities $ 709,885 $ (1,804 ) $ 708,081 $ 439,253 $ 1,100 $ 440,353 Cash, cash equivalents and restricted cash at beginning of period 443,357 2,853 446,210 1,283,757 1,753 1,285,510 Increase (decrease) in cash, cash equivalents and restricted cash during the period 239,585 (1,804 ) 237,781 (840,400 ) 1,100 (839,300 ) Cash, cash equivalents and restricted cash at end of period $ 682,942 $ 1,049 $ 683,991 $ 443,357 $ 2,853 $ 446,210 There was no impact to the Consolidated Balance Sheets, Consolidated Statements of Income, Consolidated Statements of Shareholders' Equity or Consolidated Statements of Comprehensive Income as a result of this adoption. Pension Expense Effective July 1, 2018, we adopted ASU No. 2017-07, “Retirement Benefits - Presentation of Net Period Pension Costs (Topic 715)” (ASU 2017-07), which provides guidance on the capitalization, presentation and disclosure of net benefit costs related to postretirement benefit plans. Upon adoption, only service-related net periodic pension costs will be recorded within operating expense. All other non-service related net periodic pension costs will be classified under "Interest and other related expense" on our Condensed Consolidated Statements of Income. We adopted ASU 2017-07 on a retrospective basis. As a result, certain prior period comparative figures in the Consolidated Statements of Income have been adjusted to conform to current period presentation as follows: Year Ended June 30, 2018 Year Ended June 30, 2017 As Previously Reported Adjustments As Adjusted As Previously Reported Adjustments As Adjusted Cost of revenues - Cloud services $ 364,091 $ 69 $ 364,160 $ 300,255 $ (405 ) $ 299,850 Cost of revenues - Customer Support $ 134,089 $ (200 ) $ 133,889 $ 122,753 $ (188 ) $ 122,565 Cost of revenues - Professional service and other $ 253,670 $ (281 ) $ 253,389 $ 195,195 $ (241 ) $ 194,954 Total cost of revenues $ 951,411 $ (412 ) $ 950,999 $ 762,391 $ (834 ) $ 761,557 Gross profit $ 1,863,830 $ 412 $ 1,864,242 $ 1,528,666 $ 834 $ 1,529,500 Research and Development $ 323,461 $ (552 ) $ 322,909 $ 281,680 $ (465 ) $ 281,215 Sales and Marketing $ 529,381 $ (240 ) $ 529,141 $ 444,838 $ (384 ) $ 444,454 General and administrative $ 205,313 $ (86 ) $ 205,227 $ 170,438 $ (85 ) $ 170,353 Total operating expense $ 1,358,427 $ (878 ) $ 1,357,549 $ 1,175,734 $ (934 ) $ 1,174,800 Income from operations $ 505,403 $ 1,290 $ 506,693 $ 352,932 $ 1,768 $ 354,700 Interest and other related expense, net $ (137,250 ) $ (1,290 ) $ (138,540 ) $ (119,124 ) $ (1,768 ) $ (120,892 ) There was no change to net income or net earnings per share in any of the periods presented as a result of this adoption. Additionally, there was no impact to the Consolidated Balance Sheets, Consolidated Statements of Comprehensive Income, Consolidated Statements of Shareholders' Equity or Consolidated Statements of Cash Flows as a result of this adoption. During Fiscal 2019, we adopted the following ASU's, in addition to those discussed in note 1 "Basis of Presentation". These ASU's did not have a material impact to our reported financial position, results of operations or cash flows: • ASU 2016-15 "Statement of Cash Flows (Topic 230) - Classification of Certain Cash Receipts and Cash Payments". When classifying distributions received from equity method investees, the Company uses the cumulative earnings approach. • ASU 2017-01 "Business Combinations (Topic 805): Clarifying the Definition of a Business" • ASU 2018-05 "Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118" Accounting Pronouncements Not Yet Adopted Retirement Benefits In August 2018, the Financial Accounting Standards Board (FASB) issued ASU No. 2018-14 “Compensation-Retirement Benefits-Defined Benefit Plans - General (Topic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans” (ASU 2018-14), which modifies the disclosure requirements for defined benefit pension plans and other post retirement plans. ASU 2018-14 is effective for us in the first quarter of our fiscal year ending June 30, 2021. We are currently evaluating the impact of our pending adoption of ASU 2018-14 on our consolidated financial statements. Implementation Costs in a Cloud Computing Arrangement In August 2018, the FASB issued ASU No. 2018-15 “Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract” (ASU 2018-15). ASU 2018-15 clarifies the accounting treatment for implementation costs incurred as a customer in cloud computing arrangements. We will adopt ASU 2018-15 in the first quarter of our fiscal year ending June 30, 2020. We do not expect the adoption of ASU 2018-15 will have a material impact to our consolidated financial statements. Financial Instruments In June 2016, the FASB issued ASU No. 2016-13 “Financial Instruments - Credit Losses (Topic 326)” and also issued subsequent amendments to the initial guidance under ASU 2018-19, ASU 2019-04 and ASU 2019-05 (collectively Topic 326). Topic 326 requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. This replaces the existing incurred loss model with an expected loss model and requires the use of forward looking information to calculate credit loss estimates. Topic 326 is effective for us in our first quarter of our fiscal year ending June 30, 2021 with earlier adoption permitted beginning in the first quarter of our fiscal year ending June 30, 2020. Topic 326 must be adopted by applying a cumulative effect adjustment to retained earnings. We are currently evaluating Topic 326, including its potential impact to our process and controls. We believe the effect on our consolidated financial statements will largely depend on the composition and credit quality of our financial assets and the economic conditions at the time of adoption. Leases In February 2016, the FASB issued ASU No. 2016-02 “Leases (Topic 842)” and issued subsequent amendments to the initial guidance under ASU 2017-13, ASU 2018-10, ASU 2018-11 and ASU 2018-20 (collectively, Topic 842). Topic 842 supersedes the guidance in former ASC Topic 840 “Leases”. Topic 842 requires companies to generally recognize on the balance sheet operating and financing lease liabilities and corresponding right-of-use (ROU) assets. For OpenText, the most significant change will result in the recognition of lease assets for the right to use the underlying asset and lease liabilities for the obligation to make lease payments by lessees, for those leases classified as operating leases under current guidance. Upon adoption, we expect to recognize ROU assets ranging from approximately $218 million to $228 million and lease liabilities ranging from approximately $255 million to $265 million . The new guidance will also require significant additional disclosures about the amount, timing and uncertainty of cash flows related to leases. We will adopt Topic 842 in the first quarter of our fiscal year ending June 30, 2020 using the modified retrospective transition and by applying the new standard to all leases existing at the date of initial adoption and not restating comparative periods, as allowed for under Topic 842. Upon adoption, we will also elect the transition provisions of permitted practical expedients, which among other things, allows the carryforward of the historical lease classification. Furthermore, upon adoption, we will make an accounting policy election that will keep leases with an initial term of 12 months or less off our Consolidated Balance Sheets and we will recognize these short-term lease payments in the Consolidated Statements of Operations on a straight-line basis over the lease term.
Cash and cash equivalentsCash and cash equivalents include balances with banks as well as deposits that have terms to maturity of three months or less. Cash equivalents are recorded at cost and typically consist of term deposits, commercial paper, certificates of deposit and short-term interest bearing investment-grade securities of major banks in the countries in which we operate.
Accounts Receivable and Allowance for doubtful accountsFrom time to time, we may sell certain accounts receivable to a financial institution on a non-recourse basis for cash, less a discount. Proceeds from the sale of receivables approximate their discounted book value are included in operating cash flows on the Consolidated Statement of Cash Flows. We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of customers to make payments. We evaluate the creditworthiness of our customers prior to order fulfillment and based on these evaluations, we adjust our credit limit to the respective customer. In addition to these evaluations, we conduct on-going credit evaluations of our customers' payment history and current creditworthiness. The allowance is maintained for 100%
Property and equipmentProperty and equipment are stated at the lower of cost or net realizable value, and shown net of depreciation which is computed on a straight-line basis over the estimated useful lives of the related assets. Gains and losses on asset disposals are taken into income in the year of disposition. Fully depreciated property and equipment are retired from the consolidated balance sheet when they are no longer in use. We did not recognize any significant property and equipment impairment charges in Fiscal 2019, Fiscal 2018, or Fiscal 2017. The following represents the estimated useful lives of property and equipment as of June 30, 2019: Furniture and fixtures 5 years Office equipment 5 years Computer hardware 3 years Computer software 3 to 7 years Capitalized software 3 to 5 years Leasehold improvements Lesser of the lease term or 5 years Building 40 years
Capitalized SoftwareWe capitalize software development costs in accordance with ASC Topic 350-40 "Accounting for the Costs of Computer Software Developed or Obtained for Internal-Use". We capitalize costs for software to be used internally when we enter the application development stage. This occurs when we complete the preliminary project stage, management authorizes and commits to funding the project, and it is feasible that the project will be completed and the software will perform the intended function. We cease to capitalize costs related to a software project when it enters the post implementation and operation stage. If different determinations are made with respect to the state of development of a software project, then the amount capitalized and the amount charged to expense for that project could differ materially. Costs capitalized during the application development stage consist of payroll and related costs for employees who are directly associated with, and who devote time directly to, a project to develop software for internal use. We also capitalize the direct costs of materials and services, which generally includes outside contractors, and interest. We do not capitalize any general and administrative or overhead costs or costs incurred during the application development stage related to training or data conversion costs. Costs related to upgrades and enhancements to internal-use software, if those upgrades and enhancements result in additional functionality, are capitalized. If upgrades and enhancements do not result in additional functionality, those costs are expensed as incurred. If different determinations are made with respect to whether upgrades or enhancements to software projects would result in additional functionality, then the amount capitalized and the amount charged to expense for that project could differ materially. We amortize capitalized costs with respect to development projects for internal-use software when the software is ready for use. The capitalized software development costs are generally amortized using the straight-line method over a 3 to 5 year period. In determining and reassessing the estimated useful life over which the cost incurred for the software should be amortized, we consider the effects of obsolescence, technology, competition and other economic factors. If different determinations are made with respect to the estimated useful life of the software, the amount of amortization charged in a particular period could differ materially.
Acquired intangiblesAcquired intangibles consist of acquired technology and customer relationships associated with various acquisitions. Acquired technology is initially recorded at fair value based on the present value of the estimated net future income-producing capabilities of software products acquired on acquisitions. We amortize acquired technology over its estimated useful life on a straight-line basis. Customer relationships represent relationships that we have with customers of the acquired companies and are either based upon contractual or legal rights or are considered separable; that is, capable of being separated from the acquired entity and being sold, transferred, licensed, rented or exchanged. These customer relationships are initially recorded at their fair value based on the present value of expected future cash flows. We amortize customer relationships on a straight-line basis over their estimated useful lives. We continually evaluate the remaining estimated useful life of our intangible assets being amortized to determine whether events and circumstances warrant a revision to the remaining period of amortization.
Impairment of long-lived assetsWe account for the impairment and disposition of long-lived assets in accordance with ASC Topic 360, “Property, Plant, and Equipment” (Topic 360). We test long-lived assets or asset groups, such as property and equipment and definite lived intangible assets, for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant adverse changes in the business climate or legal factors; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and a current expectation that the asset will more likely than not be sold or disposed of before the end of its estimated useful life. Recoverability is assessed based on comparing the carrying amount of the asset to the aggregate pre-tax undiscounted cash flows expected to result from the use and eventual disposal of the asset or asset group. Impairment is recognized when the carrying amount is not recoverable and exceeds the fair value of the asset or asset group. The impairment loss, if any, is measured as the amount by which the carrying amount exceeds fair value, which for this purpose is based upon the discounted projected future cash flows of the asset or asset group.
Business combinationsWe apply the provisions of ASC Topic 805, “Business Combinations” (Topic 805), in the accounting for our acquisitions. It requires us to recognize separately from goodwill the assets acquired and the liabilities assumed at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While we use our best estimates and assumptions to accurately value assets acquired and liabilities, including contingent consideration where applicable, assumed at the acquisition date, our estimates are inherently uncertain and subject to refinement, particularly since these assumptions and estimates are based in part on historical experience and information obtained from the management of the acquired companies. As a result, during the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill in the period identified. Furthermore, when valuing certain intangible assets that we have acquired, critical estimates may be made relating to, but not limited to: (i) future expected cash flows from software license sales, cloud SaaS, DaaS and PaaS contracts, support agreements, consulting agreements and other customer contracts (ii) the acquired company's technology and competitive position, as well as assumptions about the period of time that the acquired technology will continue to be used in the combined company's product portfolio, and (iii) discount rates. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments would be recorded to our Consolidated Statements of Income. For a given acquisition, we may identify certain pre-acquisition contingencies as of the acquisition date and may extend our review and evaluation of these pre-acquisition contingencies throughout the measurement period in order to obtain sufficient information to assess whether we include these contingencies as a part of the purchase price allocation and, if so, to determine the estimated amounts. If we determine that a pre-acquisition contingency (non-income tax related) is probable in nature and estimable as of the acquisition date, we record our best estimate for such a contingency as a part of the preliminary purchase price allocation. We often continue to gather information and evaluate our pre-acquisition contingencies throughout the measurement period and if we make changes to the amounts recorded or if we identify additional pre-acquisition contingencies during the measurement period, such amounts will be included in the purchase price allocation during the measurement period and, subsequently, in our results of operations. Uncertain tax positions and tax related valuation allowances assumed in connection with a business combination are initially estimated as of the acquisition date. We review these items during the measurement period as we continue to actively seek and collect information relating to facts and circumstances that existed at the acquisition date. Changes to these uncertain tax positions and tax related valuation allowances made subsequent to the measurement period, or if they relate to facts and circumstances that did not exist at the acquisition date, are recorded in the "Provision for (recovery of) income taxes" line of our Consolidated Statements of Income.
GoodwillGoodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. The carrying amount of goodwill is periodically reviewed for impairment (at a minimum annually) and whenever events or changes in circumstances indicate that the carrying value of this asset may not be recoverable. Our operations are analyzed by management and our chief operating decision maker (CODM) as being part of a single industry segment: the design, development, marketing and sales of Enterprise Information Management (EIM) software and solutions. Therefore, our goodwill impairment assessment is based on the allocation of goodwill to a single reporting unit. We perform a qualitative assessment to test our reporting unit's goodwill for impairment. Based on our qualitative assessment, if we determine that the fair value of our reporting unit is more likely than not (i.e. a likelihood of more than 50 percent) to be less than its carrying amount, the second step of the impairment test is performed. In the second step of the impairment test, we compare the fair value of our reporting unit to its carrying value. If the fair value of the reporting unit exceeds its carrying value, goodwill is not considered impaired and we are not required to perform further testing. If the carrying value of the net assets of our reporting unit exceeds its fair value, then an impairment loss equal to the difference, but not exceeding the total carrying value of goodwill allocated to the reporting unit, would be recorded.
Derivative financial instrumentsWe use derivative financial instruments to manage foreign currency rate risk. We account for these instruments in accordance with ASC Topic 815, “Derivatives and Hedging” (Topic 815), which requires that every derivative instrument be recorded on the balance sheet as either an asset or liability measured at its fair value as of the reporting date. Topic 815 also requires that changes in our derivative financial instruments' fair values be recognized in earnings; unless specific hedge accounting and documentation criteria are met (i.e. the instruments are accounted for as hedges). We recorded the effective portions of the gain or loss on derivative financial instruments that were designated as cash flow hedges in "Accumulated other comprehensive income", net of tax, in our accompanying Consolidated Balance Sheets. Any ineffective or excluded portion of a designated cash flow hedge, if applicable, was recognized in our Consolidated Statements of Income.
Asset retirement obligationsWe account for asset retirement obligations in accordance with ASC Topic 410, “Asset Retirement and Environmental Obligations” (Topic 410), which applies to certain obligations associated with “leasehold improvements” within our leased office facilities. Topic 410 requires that a liability be initially recognized for the estimated fair value of the obligation when it is incurred. The associated asset retirement cost is capitalized as part of the carrying amount of the long-lived asset and depreciated over the remaining life of the underlying asset and the associated liability is accreted to the estimated fair value of the obligation at the settlement date through periodic accretion charges recorded within general and administrative expenses. When the obligation is settled, any difference between the final cost and the recorded amount is recognized as income or loss on settlement in our Consolidated Statements of Income.
Revenue RecognitionContract Balances A contract asset 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. In accordance with Topic 606, we account for a customer contract when we obtain written approval, the contract is committed, the rights of the parties, including the payment terms, are identified, the contract has commercial substance and consideration is probable of collection. Revenue is recognized when, or as, control of a promised product or service is transferred to our customers in an amount that reflects the consideration we expect to be entitled to in exchange for our products and services (at its transaction price). Estimates of variable consideration and the determination of whether to include estimated amounts in the transaction price are based on readily available information, which may include historical, current and forecasted information, taking into consideration the type of customer, the type of transaction and specific facts and circumstances of each arrangement. We report revenue net of any revenue-based taxes assessed by governmental authorities that are imposed on and concurrent with specific revenue producing transactions. We have four revenue streams: license, cloud services and subscriptions, customer support, and professional service and other. License revenue Our license revenue can be broadly categorized as perpetual licenses, term licenses and subscription licenses, all of which are deployed on the customer’s premises (on-premise). Perpetual licenses: We sell perpetual licenses which provide customers the right to use software for an indefinite period of time in exchange for a one-time license fee, which is generally paid at contract inception. Our perpetual licenses provide a right to use intellectual property (IP) that is functional in nature and have significant stand-alone functionality. Accordingly, for perpetual licenses of functional IP, revenue is recognized at the point-in-time when control has been transferred to the customer, which normally occurs once software activation keys have been made available for download. Term licenses and Subscription licenses: We sell both term and subscription licenses which provide customers the right to use software for a specified period in exchange for a fee, which may be paid at contract inception or paid in installments over the period of the contract. Like perpetual licenses, both our term licenses and subscription licenses are functional IP that have significant stand-alone functionality. Accordingly, for both term and subscription licenses, revenue is recognized at the point-in-time when the customer is able to use and benefit from the software, which is normally once software activation keys have been made available for download at the commencement of the term. Cloud services and subscriptions revenue Cloud services and subscriptions revenue are from hosting arrangements where in connection with the licensing of software, the end user doesn’t take possession of the software, as well as from end-to-end fully outsourced business-to-business (B2B) integration solutions to our customers (collectively referred to as cloud arrangements). The software application resides on our hardware or that of a third party, and the customer accesses and uses the software on an as-needed basis. Our cloud arrangements can be broadly categorized as "platform as a service" (PaaS), "software as a service" (SaaS), cloud subscriptions and managed services. PaaS/ SaaS/ Cloud Subscriptions (collectively referred to here as cloud-based solutions): We offer cloud-based solutions that provide customers the right to access our software through the internet. Our cloud-based solutions represent a series of distinct services that are substantially the same and have the same pattern of transfer to the customer. These services are made available to the customer continuously throughout the contractual period, however, the extent to which the customer uses the services may vary at the customer’s discretion. The payment for cloud-based solutions may be received either at inception of the arrangement, or over the term of the arrangement. These cloud-based solutions are considered to have a single performance obligation where the customer simultaneously receives and consumes the benefit, and as such we recognize revenue for these cloud-based solutions ratably over the term of the contractual agreement. For example, revenue related to cloud-based solutions that are provided on a usage basis, such as the number of users, is recognized based on a customer’s utilization of the services in a given period. Additionally, a software license is present in a cloud-based solutions arrangement if all of the following criteria are met: (i) The customer has the contractual right to take possession of the software at any time without significant penalty; and (ii) It is feasible for the customer to host the software independent of us. In these cases where a software license is present in a cloud-based solutions arrangement it is assessed to determine if it is distinct from the cloud-based solutions arrangement. The revenue allocated to the distinct software license would be recognized at the point in time the software license is transferred to the customer, whereas the revenue allocated to the hosting performance obligation would be recognized ratably on a monthly basis over the contractual term unless evidence suggests that revenue is earned, or obligations are fulfilled in a different pattern over the contractual term of the arrangement. Managed services: We provide comprehensive B2B process outsourcing services for all day-to-day operations of a customers’ B2B integration program. Customers using these managed services are not permitted to take possession of our software and the contract is for a defined period, where customers pay a monthly or quarterly fee. Our performance obligation is satisfied as we provide services of operating and managing a customer's electronic data interchange (EDI) environment. Revenue relating to these services is recognized using an output method based on the expected level of service we will provide over the term of the contract. In connection with cloud subscription and managed service contracts, we often agree to perform a variety of services before the customer goes live, such as for example, converting and migrating customer data, building interfaces and providing training. These services are considered an outsourced suite of professional services which can involve certain project-based activities. These services can be provided at the initiation of a contract, during the implementation or on an ongoing basis as part of the customer life cycle. These services can be charged separately on a fixed fee or time and materials basis, or the costs associated may be recovered as part of the ongoing cloud subscription or managed services fee. These outsourced professional services are considered to be distinct from the ongoing hosting services and represent a separate performance obligation within our cloud subscription or managed services arrangements. The obligation to provide outsourced professional services is satisfied over time, with the customer simultaneously receiving and consuming the benefits as we satisfy our performance obligations. For outsourced professional services, we recognize revenue by measuring progress toward the satisfaction of our performance obligation. Progress for services that are contracted for a fixed price is generally measured based on hours incurred as a portion of total estimated hours. As a practical expedient, when we invoice a customer at an amount that corresponds directly with the value to the customer of our performance to date, we recognize revenue at that amount. Customer support revenue Customer support revenue is associated with perpetual, term license and on-premise subscription arrangements. As customer support is not critical to the customer's ability to derive benefit from its right to use our software, customer support is considered as a distinct performance obligation when sold together in a bundled arrangement along with the software. Customer support consists primarily of technical support and the provision of unspecified updates and upgrades on a when-and-if-available basis. Customer support for perpetual licenses is renewable, generally on an annual basis, at the option of the customer. Customer support for term and subscription licenses is renewable concurrently with such licenses for the same duration of time. Payments for customer support are generally made at the inception of the contract term or in installments over the term of the maintenance period. Our customer support team is ready to provide these maintenance services, as needed, to the customer during the contract term. As the elements of customer support are delivered concurrently and have the same pattern of transfer, customer support is accounted for as a single performance obligation. The customer benefits evenly throughout the contract period from the guarantee that the customer support resources and personnel will be available to them, and that any unspecified upgrades or unspecified future products developed by us will be made available. Revenue for customer support is recognized ratably over the contract period based on the start and end dates of the maintenance term, in line with how we believe services are provided. Professional service and other revenue Our professional services, when offered along with software licenses, consists primarily of technical services and training services. Technical services may include installation, customization, implementation or consulting services. Training services may include access to online modules or delivering a training package customized to the customer’s needs. At the customer’s discretion, we may offer one, all, or a mix of these services. Payment for professional services is generally a fixed fee or is a fee based on time and materials. Professional services can be arranged in the same contract as the software license or in a separate contract. As our professional services do not significantly change the functionality of the license and our customers can benefit from our professional services on their own or together with other readily available resources, we consider professional services as distinct within the context of the contract. Professional service revenue is recognized over time so long as: (i) the customer simultaneously receives and consumes the benefits as we perform them, (ii) our performance creates or enhances an asset the customer controls as we perform, and (iii) our performance does not create an asset with alternative use and we have enforceable right to payment. If all of the above criteria are met, we use an input-based measure of progress for recognizing professional service revenue. For example we may consider total labor hours incurred compared to total expected labor hours. As a practical expedient, when we invoice a customer at an amount that corresponds directly with the value to the customer of our performance to date, we will recognize revenue at that amount. Material rights To the extent that we grant our customer an option to acquire additional products or services in one of our arrangements, we will account for the option as a distinct performance obligation in the contract only if the option provides a material right to the customer that the customer would not receive without entering into the contract. For example if we give the customer an option to acquire additional goods or services in the future at a price that is significantly lower than the current price, this would be a material right as it allows the customer to, in effect, pay in advance for the option to purchase future products or services. If a material right exists in one of our contracts then revenue allocated to the option is deferred and we would recognize revenue only when those future products or services are transferred or when the option expires. Based on history, our contracts do not typically contain material rights and when they do, the material right is not significant to our consolidated financial statements. Arrangements with multiple performance obligations Our contracts generally contain more than one of the products and services listed above. Determining whether goods and services are considered distinct performance obligations that should be accounted for separately or as a single performance obligation may require judgment, specifically when assessing whether both of the following two criteria are met: • the customer can benefit from the product or service either on its own or together with other resources that are readily available to the customer; and • our promise to transfer the product or service to the customer is separately identifiable from other promises in the contract. If these criteria are not met, we determine an appropriate measure of progress based on the nature of our overall promise for the single performance obligation. If these criteria are met, each product or service is separately accounted for as a distinct performance obligation and the total transaction price is allocated to each performance obligation on a relative standalone selling price (SSP) basis. Standalone selling price The SSP reflects the price we would charge for a specific product or service if it was sold separately in similar circumstances and to similar customers. In most cases we are able to establish the SSP based on observable data. We typically establish a narrow SSP range for our products and services and assess this range on a periodic basis or when material changes in facts and circumstances warrant a review. If the SSP is not directly observable, then we estimate the amount using either the expected cost plus a margin or residual approach. Estimating SSP requires judgment that could impact the amount and timing of revenue recognized. SSP is a formal process whereby management considers multiple factors including, but not limited to, geographic or regional specific factors, competitive positioning, internal costs, profit objectives, and pricing practices. Transaction Price Allocation In bundled arrangements, where we have more than one distinct performance obligation, we must allocate the transaction price to each performance obligation based on its relative SSP. However, in certain bundled arrangements, the SSP may not always be directly observable. For instance, in bundled arrangements with license and customer support, we allocate the transaction price between the license and customer support performance obligations using the residual approach because we have determined that the SSP for licenses in these arrangements are highly variable. We use the residual approach only for our license arrangements. When the SSP is observable but contractual pricing does not fall within our established SSP range, then an adjustment is required and we will allocate the transaction price between license and customer support at a constant ratio reflecting the mid-point of the established SSP range. When two or more contracts are entered into at or near the same time with the same customer, we evaluate the facts and circumstances associated with the negotiation of those contracts. Where the contracts are negotiated as a package, we will account for them as a single arrangement and allocate the consideration for the combined contracts among the performance obligations accordingly. Sales to resellers We execute certain sales contracts through resellers, distributors and channel partners (collectively referred to as resellers). For these type of agreements, we assess whether we are considered the principal or the agent in the arrangement. We consider factors such as, but not limited to, whether or not the reseller has the ability to set the price for which they sell our software products to end users and whether or not resellers distribution rights are limited such that any potential sales are subject to OpenText’s review and approval before delivery of the software product can be made. If we determine that we are the principal in the arrangement, then revenue is recognized based on the transaction price for the sale of the software product to the end user at the gross amount. If that is not known, then the net amount received from the reseller is the transaction price. If we determine that we are the agent in the agreement, then revenue is recognized based on the transaction price for the sale of the software product to the reseller, less any applicable commissions paid or discounts or rebates, if offered. Costs or commissions paid to the reseller would be recognized as a reduction of revenue unless we received a distinct good or service in return. Similarly, any discounts or rebates offered by the reseller would be recognized as a reduction of revenue. Typically, we conclude that we are the principal in our reseller agreements, as we have control over the service and products prior to being transferred to the end customer. We also assess the creditworthiness of each reseller and if they are newly formed, undercapitalized or in financial difficulty, we defer any revenues expected to emanate from such reseller and recognize revenue only when cash is received, and all other revenue recognition criteria under Topic 606 are met. Rights of return and other incentives We do not generally offer rights of return or any other incentives such as concessions, product rotation, or price protection and, therefore, do not provide for or make estimates of rights of return and similar incentives. In some contracts, however, discounts may be offered to the customer for future software purchases and other additional products or services. Such arrangements grant the customer an option to acquire additional goods or services in the future at a discount and therefore are evaluated under guidance related to “material rights” as discussed above. Other policies Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 60 days of the invoice date. In certain arrangements, we will receive payment from a customer either before or after the performance obligation to which the invoice relates has been satisfied. As a practical expedient, we do not account for significant financing components if the period between when we transfer the promised good or service to the customer and when the customer pays for the product or service will be one year or less. On that basis, our contracts for license and maintenance typically do not contain a significant financing component, however in determining the transaction price we consider whether we need to adjust the promised consideration for the effects of the time value of money if the timing of payments provides either the customer or OpenText with a significant benefit of financing. Our managed services contracts may not include an upfront charge for outsourced professional services performed as part of an implementation and are recovered through an ongoing fee. Therefore, these contracts may be expected to have a financing component associated with revenue being recognized in advance of billings. We may modify contracts to offer customers additional products or services. The additional products and services will be considered distinct from those products or services transferred to the customer before the modification and will be accounted for as a separate contract. We evaluate whether the price for the additional products and services reflects the SSP adjusted as appropriate for facts and circumstances applicable to that contract. In determining whether an adjustment is appropriate, we evaluate whether the incremental consideration is consistent with the prices previously paid by the customer or similar customers. Performance Obligations A summary of our typical performance obligations and when the obligations are satisfied are as follows: Performance Obligation When Performance Obligation is Typically Satisfied License revenue: Software licenses (Perpetual,Term, Subscription) When software activation keys have been made available for download (point in time) Cloud services and subscriptions revenue: Outsourced Professional Services As the services are provided (over time) Managed Services / Ongoing Hosting Over the contract term, beginning on the date that service is made available (i.e. "Go live") to the customer (over time) Customer support revenue: When and if available updates and upgrades and technical support Ratable over the course of the service term (over time) Professional service and other revenue: Professional services As the services are provided (over time) Incremental costs of obtaining a contract include only those costs that we incur to obtain a contract that we would not have incurred if the contract had not been obtained, such as sales commissions. We have determined that certain of our commission programs meet the requirements to be capitalized. Some commission programs are not subject to capitalization as the commission expense is paid and recognized as the related revenue is recognized. In assessing costs to obtain a contract, we apply a practical expedient that allows us to assess our incremental costs on a portfolio of contracts with similar characteristics instead of assessing the incremental costs on each individual contract. We do not expect the financial statement effects of applying this practical expedient to the portfolio of contracts to be materially different than if we were to apply the new standard to each individual contract. We pay commissions on the sale of new customer contracts as well as for renewals of existing contracts to the extent the renewals generate incremental revenue. Commissions paid on renewal contracts are limited to the incremental new revenue and therefore these payments are not commensurate with the commission paid on the original sale. We allocate commission costs to the performance obligations in an arrangement consistent with the allocation of the transaction price. Commissions allocated to the license performance obligation are expensed at the time the license revenue is recognized. Commissions allocated to professional service performance obligations are expensed as incurred, as these contracts are generally for one year or less and we apply a practical expedient to expense costs as incurred if the amortization period would have been one year or less. Commissions allocated to maintenance, managed services, on-going hosting arrangements or other recurring services, are capitalized and amortized consistent with the pattern of transfer to the customer of the services over the period expected to benefit from the commission payment. As commissions paid on renewals are not commensurate with the original sale, the period of benefit considers anticipated renewals. The benefit period is estimated to be approximately six years which is based on our customer contracts and the estimated life of our technology. Expenses for incremental costs associated with obtaining a contract are recorded within sales and marketing expense in the Consolidated Statements of Income .
Research and development costsResearch and development costs internally incurred in creating computer software to be sold, licensed or otherwise marketed are expensed as incurred unless they meet the criteria for deferral and amortization, as described in ASC Topic 985-20, “Costs of Software to be Sold, Leased, or Marketed” (Topic 985-20). In accordance with Topic 985-20, costs related to research, design and development of products are charged to expense as incurred and capitalized between the dates that the product is considered to be technologically feasible and is considered to be ready for general release to customers. In our historical experience, the dates relating to the achievement of technological feasibility and general release of the product have substantially coincided. In addition, no significant costs are incurred subsequent to the establishment of technological feasibility. As a result, we do not capitalize any research and development costs relating to internally developed software to be sold, licensed or otherwise marketed.
Income taxesWe account for income taxes in accordance with ASC Topic 740, “Income Taxes” (Topic 740). Deferred tax assets and liabilities arise from temporary differences between the tax bases of assets and liabilities and their reported amounts in the Consolidated Financial Statements that will result in taxable or deductible amounts in future years. These temporary differences are measured using enacted tax rates. A valuation allowance is recorded to reduce deferred tax assets to the extent that we consider it is more likely than not that a deferred tax asset will not be realized. In determining the valuation allowance, we consider factors such as the reversal of deferred income tax liabilities, projected taxable income, and the character of income tax assets and tax planning strategies. A change to these factors could impact the estimated valuation allowance and income tax expense.
Fair value of financial instrumentsCarrying amounts of certain financial instruments, including cash and cash equivalents, accounts receivable and accounts payable (trade and accrued liabilities) approximate their fair value due to the relatively short period of time between origination of the instruments and their expected realization. The fair value of our total long-term debt approximates its carrying value since the interest rate is at market.
Foreign currencyOur Consolidated Financial Statements are presented in U.S. dollars. In general, the functional currency of our subsidiaries is the local currency. For each subsidiary, assets and liabilities denominated in foreign currencies are translated into U.S dollars at the exchange rates in effect at the balance sheet dates and revenues and expenses are translated at the average exchange rates prevailing during the previous month of the transaction. The effect of foreign currency translation adjustments not affecting net income are included in Shareholders' equity under the “Cumulative translation adjustment” account as a component of “Accumulated other comprehensive income”.
Restructuring chargesWe record restructuring charges relating to contractual lease obligations and other exit costs in accordance with ASC Topic 420, “Exit or Disposal Cost Obligations” (Topic 420). Topic 420 requires that a liability for a cost associated with an exit or disposal activity be recognized and measured initially at its fair value in the period in which the liability is incurred. In order to incur a liability pursuant to Topic 420, our management must have established and approved a plan of restructuring in sufficient detail. A liability for a cost associated with involuntary termination benefits is recorded when benefits have been communicated and a liability for a cost to terminate an operating lease or other contract is incurred, when the contract has been terminated in accordance with the contract terms or we have ceased using the right conveyed by the contract, such as vacating a leased facility. The recognition of restructuring charges requires us to make certain judgments regarding the nature, timing and amount associated with the planned restructuring activities, including estimating sub-lease income and the net recoverable amount of
Loss ContingenciesWe 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.
Net income per shareBasic net income per share is computed using the weighted average number of Common Shares outstanding including contingently issuable shares where the contingency has been resolved. Diluted net income per share is computed using the weighted average number of Common Shares and stock equivalents outstanding using the treasury stock method during the year
Share-based paymentWe measure share-based compensation costs, in accordance with ASC Topic 718, “Compensation - Stock Compensation” (Topic 718) on the grant date, based on the calculated fair value of the award. We have elected to treat awards with graded vesting as a single award when estimating fair value. Compensation cost is recognized on a straight-line basis over the employee requisite service period, which in our circumstances is the stated vesting period of the award, provided that total compensation cost recognized at least equals the pro-rata value of the award that has vested. Compensation cost is initially based on the estimated number of options for which the requisite service is expected to be rendered. This estimate is adjusted in the period once actual forfeitures are known
Accounting for Pensions, post-retirement and post-employment benefitsPension expense is accounted for in accordance with ASC Topic 715, “Compensation-Retirement Benefits” (Topic 715). Pension expense consists of: actuarially computed costs of pension benefits in respect of the current year of service, imputed returns on plan assets (for funded plans) and imputed interest on pension obligations. The expected costs of post retirement benefits, other than pensions, are accrued in the Consolidated Financial Statements based upon actuarial methods and assumptions. The over-funded or under-funded status of defined benefit pension and other post retirement plans are recognized as an asset or a liability (with the offset to “Accumulated other comprehensive income”, net of tax, within “Shareholders' equity”), respectively, on the Consolidated Balance Sheets

Basis of Presentation (Tables)

Basis of Presentation (Tables)12 Months Ended
Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting PrinciplesAs a result, certain prior period comparative figures in the Consolidated Statements of Income have been adjusted to conform to current period presentation as follows: Year Ended June 30, 2018 Year Ended June 30, 2017 As Previously Reported Adjustments As Adjusted As Previously Reported Adjustments As Adjusted Cost of revenues - Cloud services $ 364,091 $ 69 $ 364,160 $ 300,255 $ (405 ) $ 299,850 Cost of revenues - Customer Support $ 134,089 $ (200 ) $ 133,889 $ 122,753 $ (188 ) $ 122,565 Cost of revenues - Professional service and other $ 253,670 $ (281 ) $ 253,389 $ 195,195 $ (241 ) $ 194,954 Total cost of revenues $ 951,411 $ (412 ) $ 950,999 $ 762,391 $ (834 ) $ 761,557 Gross profit $ 1,863,830 $ 412 $ 1,864,242 $ 1,528,666 $ 834 $ 1,529,500 Research and Development $ 323,461 $ (552 ) $ 322,909 $ 281,680 $ (465 ) $ 281,215 Sales and Marketing $ 529,381 $ (240 ) $ 529,141 $ 444,838 $ (384 ) $ 444,454 General and administrative $ 205,313 $ (86 ) $ 205,227 $ 170,438 $ (85 ) $ 170,353 Total operating expense $ 1,358,427 $ (878 ) $ 1,357,549 $ 1,175,734 $ (934 ) $ 1,174,800 Income from operations $ 505,403 $ 1,290 $ 506,693 $ 352,932 $ 1,768 $ 354,700 Interest and other related expense, net $ (137,250 ) $ (1,290 ) $ (138,540 ) $ (119,124 ) $ (1,768 ) $ (120,892 ) Year Ended June 30, 2018 Year Ended June 30, 2017 As Previously Reported Adjustments As Adjusted As Previously Reported Adjustments As Adjusted Net cash provided by operating activities $ 709,885 $ (1,804 ) $ 708,081 $ 439,253 $ 1,100 $ 440,353 Cash, cash equivalents and restricted cash at beginning of period 443,357 2,853 446,210 1,283,757 1,753 1,285,510 Increase (decrease) in cash, cash equivalents and restricted cash during the period 239,585 (1,804 ) 237,781 (840,400 ) 1,100 (839,300 ) Cash, cash equivalents and restricted cash at end of period $ 682,942 $ 1,049 $ 683,991 $ 443,357 $ 2,853 $ 446,210 The following tables summarize the impacts of adopting Topic 606 on our consolidated balance sheets, statements of income and cash flows, all as compared to proforma balances illustrating if ASC Topic 605 "Revenue Recognition" (Topic 605) had still been in effect. Financial statement line items that were not impacted by the adoption of Topic 606 have been excluded from the tables below. Consolidated Balance Sheet As of June 30, 2019 As reported under Adjustments Proforma as if Topic 605 was in effect ASSETS Contract assets $ 20,956 $ (20,956 ) $ — Prepaid expenses and other current assets 97,238 4,428 101,666 Total current assets 1,561,328 (16,528 ) 1,544,800 Long-term contract assets 15,386 (15,386 ) — Deferred tax assets 1,004,450 16,631 1,021,081 Other assets 148,977 (5,614 ) 143,363 Total assets $ 7,933,975 $ (20,897 ) $ 7,913,078 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued liabilities $ 329,903 $ (55 ) $ 329,848 Deferred revenues 641,656 24,635 666,291 Total current liabilities 1,014,717 24,580 1,039,297 Long-term liabilities: Deferred revenues 46,974 32,170 79,144 Deferred tax liabilities 55,872 (8,178 ) 47,694 Total long-term liabilities 3,034,588 23,992 3,058,580 Shareholders’ equity: Accumulated other comprehensive income 24,124 1,260 25,384 Retained earnings 2,113,883 (70,729 ) 2,043,154 Total OpenText shareholders' equity 3,883,455 (69,469 ) 3,813,986 Non-controlling interests 1,215 — 1,215 Total shareholders’ equity 3,884,670 (69,469 ) 3,815,201 Total liabilities and shareholders’ equity $ 7,933,975 $ (20,897 ) $ 7,913,078 Consolidated Statements of Income Year Ended June 30, 2019 As reported under Adjustments Proforma as if Topic 605 was in effect Revenues: License $ 428,092 $ (37,709 ) $ 390,383 Cloud services and subscriptions 907,812 (6,361 ) 901,451 Customer support 1,247,915 (1,605 ) 1,246,310 Professional service and other 284,936 24 284,960 Total revenues 2,868,755 (45,651 ) 2,823,104 Cost of revenues: Cloud services and subscriptions 383,993 (338 ) 383,655 Professional service and other 224,635 5 224,640 Total cost of revenues 930,703 (333 ) 930,370 Gross profit 1,938,052 (45,318 ) 1,892,734 Operating expenses: Sales and marketing 518,035 8,945 526,980 Total operating expenses 1,371,042 8,945 1,379,987 Income from operations 567,010 (54,263 ) 512,747 Interest and other related expense, net (136,592 ) (801 ) (137,393 ) Income before income taxes 440,574 (55,064 ) 385,510 Provision for (recovery of) income taxes 154,937 (14,121 ) 140,816 Net income for the period $ 285,637 $ (40,943 ) $ 244,694 The adjustment on license revenue for the year ended June 30, 2019 of $37.7 million is primarily due to new contracts entered into during Fiscal 2019 for which a timing difference of revenue recognition exists between Topic 606 and Topic 605. See above for an explanation of how license revenues are recognized under Topic 606. The Fiscal 2019 contracts pertaining to the respective adjustments are recognized up front under Topic 606, whereas such revenues would have been recognized over time under Topic 605. Consolidated Statement of Cash Flows Year Ended June 30, 2019 As reported under Topic 606 Adjustments Proforma as if Topic 605 was in effect Cash flows from operating activities: Net income for the period $ 285,637 $ (40,943 ) $ 244,694 Adjustments to reconcile net income to net cash provided by operating activities: Deferred taxes 47,425 (14,165 ) 33,260 Changes in operating assets and liabilities: Accounts receivable 75,508 (18,883 ) 56,625 Contract assets (37,623 ) 37,623 — Prepaid expenses and other current assets (819 ) 3,319 2,500 Income taxes and deferred charges and credits 27,291 101 27,392 Accounts payable and accrued liabilities (21,732 ) 173 (21,559 ) Deferred revenue (1,827 ) 26,841 25,014 Other assets (4 ) 5,934 5,930 Net cash provided by operating activities $ 876,278 $ — $ 876,278

Accounting Policies and Recen_3

Accounting Policies and Recent Accounting Pronouncements (Tables)12 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]
Property, Plant and EquipmentThe following represents the estimated useful lives of property and equipment as of June 30, 2019: Furniture and fixtures 5 years Office equipment 5 years Computer hardware 3 years Computer software 3 to 7 years Capitalized software 3 to 5 years Leasehold improvements Lesser of the lease term or 5 years Building 40 years As of June 30, 2019 Cost Accumulated Depreciation Net Furniture and fixtures $ 40,260 $ (26,492 ) $ 13,768 Office equipment 1,993 (1,576 ) 417 Computer hardware 258,802 (177,402 ) 81,400 Computer software 119,018 (87,240 ) 31,778 Capitalized software development costs 95,729 (56,205 ) 39,524 Leasehold improvements 113,510 (66,520 ) 46,990 Land and buildings 49,557 (13,981 ) 35,576 Total $ 678,869 $ (429,416 ) $ 249,453 As of June 30, 2018 Cost Accumulated Depreciation Net Furniture and fixtures $ 34,647 $ (21,488 ) $ 13,159 Office equipment 1,467 (687 ) 780 Computer hardware 207,381 (134,906 ) 72,475 Computer software 97,653 (59,485 ) 38,168 Capitalized software development costs 81,073 (41,556 ) 39,517 Leasehold improvements 118,200 (55,172 ) 63,028 Land and buildings 47,880 (10,802 ) 37,078 Total $ 588,301 $ (324,096 ) $ 264,205

Revenues (Tables)

Revenues (Tables)12 Months Ended
Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Expected Timing of SatisfactionA summary of our typical performance obligations and when the obligations are satisfied are as follows: Performance Obligation When Performance Obligation is Typically Satisfied License revenue: Software licenses (Perpetual,Term, Subscription) When software activation keys have been made available for download (point in time) Cloud services and subscriptions revenue: Outsourced Professional Services As the services are provided (over time) Managed Services / Ongoing Hosting Over the contract term, beginning on the date that service is made available (i.e. "Go live") to the customer (over time) Customer support revenue: When and if available updates and upgrades and technical support Ratable over the course of the service term (over time) Professional service and other revenue: Professional services As the services are provided (over time)
Disaggregation of RevenueThe following table disaggregates our revenue by significant geographic area, based on the location of our end customer, and by type of performance obligation and timing of revenue recognition for the periods indicated: Year Ended June 30, 2019 Total Revenues by Geography: Americas (1) $ 1,683,282 EMEA (2) 920,422 Asia Pacific (3) 265,051 Total Revenues $ 2,868,755 Total Revenues by Type of Performance Obligation: Recurring revenue (4) Cloud services and subscriptions revenue $ 907,812 Customer support revenue 1,247,915 Total recurring revenues $ 2,155,727 License revenue (perpetual, term and subscriptions) 428,092 Professional service and other revenue 284,936 Total revenues $ 2,868,755 Total Revenues by Timing of Revenue Recognition Point in time 428,092 Over time (including professional service and other revenue) 2,440,663 Total revenues $ 2,868,755 (1) Americas consists of countries in North, Central and South America. (2) EMEA primarily consists of countries in Europe, the Middle East and Africa. (3) Asia Pacific primarily consists of the countries Japan, Australia, China, Korea, Philippines, Singapore and New Zealand. (4) Recurring revenue is defined as the sum of cloud services and subscriptions revenue and customer support revenue.
Contract BalancesThe balance for our contract assets and contract liabilities (i.e. deferred revenues) for the periods indicated below were as follows: As of June 30, 2019 As of July 1, 2018 Short-term contract assets $ 20,956 $ 5,474 Long-term contract assets $ 15,386 $ 12,382 Short-term deferred revenue $ 641,656 $ 618,197 Long-term deferred revenue $ 46,974 $ 64,743
Incremental Costs of Obtaining a Contract with a CustomerThe following table summarizes the changes since July 1, 2018 : Capitalized costs to obtain a contract as of July 1, 2018 $ 35,151 New capitalized costs incurred 24,347 Amortization of capitalized costs (11,003 ) Adjustments on account of foreign exchange (211 ) Capitalized costs to obtain a contract as of June 30, 2019 $ 48,284
Schedule of New Accounting Pronouncements, Impact on Financial StatementsAs a result, certain prior period comparative figures in the Consolidated Statements of Income have been adjusted to conform to current period presentation as follows: Year Ended June 30, 2018 Year Ended June 30, 2017 As Previously Reported Adjustments As Adjusted As Previously Reported Adjustments As Adjusted Cost of revenues - Cloud services $ 364,091 $ 69 $ 364,160 $ 300,255 $ (405 ) $ 299,850 Cost of revenues - Customer Support $ 134,089 $ (200 ) $ 133,889 $ 122,753 $ (188 ) $ 122,565 Cost of revenues - Professional service and other $ 253,670 $ (281 ) $ 253,389 $ 195,195 $ (241 ) $ 194,954 Total cost of revenues $ 951,411 $ (412 ) $ 950,999 $ 762,391 $ (834 ) $ 761,557 Gross profit $ 1,863,830 $ 412 $ 1,864,242 $ 1,528,666 $ 834 $ 1,529,500 Research and Development $ 323,461 $ (552 ) $ 322,909 $ 281,680 $ (465 ) $ 281,215 Sales and Marketing $ 529,381 $ (240 ) $ 529,141 $ 444,838 $ (384 ) $ 444,454 General and administrative $ 205,313 $ (86 ) $ 205,227 $ 170,438 $ (85 ) $ 170,353 Total operating expense $ 1,358,427 $ (878 ) $ 1,357,549 $ 1,175,734 $ (934 ) $ 1,174,800 Income from operations $ 505,403 $ 1,290 $ 506,693 $ 352,932 $ 1,768 $ 354,700 Interest and other related expense, net $ (137,250 ) $ (1,290 ) $ (138,540 ) $ (119,124 ) $ (1,768 ) $ (120,892 ) Year Ended June 30, 2018 Year Ended June 30, 2017 As Previously Reported Adjustments As Adjusted As Previously Reported Adjustments As Adjusted Net cash provided by operating activities $ 709,885 $ (1,804 ) $ 708,081 $ 439,253 $ 1,100 $ 440,353 Cash, cash equivalents and restricted cash at beginning of period 443,357 2,853 446,210 1,283,757 1,753 1,285,510 Increase (decrease) in cash, cash equivalents and restricted cash during the period 239,585 (1,804 ) 237,781 (840,400 ) 1,100 (839,300 ) Cash, cash equivalents and restricted cash at end of period $ 682,942 $ 1,049 $ 683,991 $ 443,357 $ 2,853 $ 446,210 The following tables summarize the impacts of adopting Topic 606 on our consolidated balance sheets, statements of income and cash flows, all as compared to proforma balances illustrating if ASC Topic 605 "Revenue Recognition" (Topic 605) had still been in effect. Financial statement line items that were not impacted by the adoption of Topic 606 have been excluded from the tables below. Consolidated Balance Sheet As of June 30, 2019 As reported under Adjustments Proforma as if Topic 605 was in effect ASSETS Contract assets $ 20,956 $ (20,956 ) $ — Prepaid expenses and other current assets 97,238 4,428 101,666 Total current assets 1,561,328 (16,528 ) 1,544,800 Long-term contract assets 15,386 (15,386 ) — Deferred tax assets 1,004,450 16,631 1,021,081 Other assets 148,977 (5,614 ) 143,363 Total assets $ 7,933,975 $ (20,897 ) $ 7,913,078 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued liabilities $ 329,903 $ (55 ) $ 329,848 Deferred revenues 641,656 24,635 666,291 Total current liabilities 1,014,717 24,580 1,039,297 Long-term liabilities: Deferred revenues 46,974 32,170 79,144 Deferred tax liabilities 55,872 (8,178 ) 47,694 Total long-term liabilities 3,034,588 23,992 3,058,580 Shareholders’ equity: Accumulated other comprehensive income 24,124 1,260 25,384 Retained earnings 2,113,883 (70,729 ) 2,043,154 Total OpenText shareholders' equity 3,883,455 (69,469 ) 3,813,986 Non-controlling interests 1,215 — 1,215 Total shareholders’ equity 3,884,670 (69,469 ) 3,815,201 Total liabilities and shareholders’ equity $ 7,933,975 $ (20,897 ) $ 7,913,078 Consolidated Statements of Income Year Ended June 30, 2019 As reported under Adjustments Proforma as if Topic 605 was in effect Revenues: License $ 428,092 $ (37,709 ) $ 390,383 Cloud services and subscriptions 907,812 (6,361 ) 901,451 Customer support 1,247,915 (1,605 ) 1,246,310 Professional service and other 284,936 24 284,960 Total revenues 2,868,755 (45,651 ) 2,823,104 Cost of revenues: Cloud services and subscriptions 383,993 (338 ) 383,655 Professional service and other 224,635 5 224,640 Total cost of revenues 930,703 (333 ) 930,370 Gross profit 1,938,052 (45,318 ) 1,892,734 Operating expenses: Sales and marketing 518,035 8,945 526,980 Total operating expenses 1,371,042 8,945 1,379,987 Income from operations 567,010 (54,263 ) 512,747 Interest and other related expense, net (136,592 ) (801 ) (137,393 ) Income before income taxes 440,574 (55,064 ) 385,510 Provision for (recovery of) income taxes 154,937 (14,121 ) 140,816 Net income for the period $ 285,637 $ (40,943 ) $ 244,694 The adjustment on license revenue for the year ended June 30, 2019 of $37.7 million is primarily due to new contracts entered into during Fiscal 2019 for which a timing difference of revenue recognition exists between Topic 606 and Topic 605. See above for an explanation of how license revenues are recognized under Topic 606. The Fiscal 2019 contracts pertaining to the respective adjustments are recognized up front under Topic 606, whereas such revenues would have been recognized over time under Topic 605. Consolidated Statement of Cash Flows Year Ended June 30, 2019 As reported under Topic 606 Adjustments Proforma as if Topic 605 was in effect Cash flows from operating activities: Net income for the period $ 285,637 $ (40,943 ) $ 244,694 Adjustments to reconcile net income to net cash provided by operating activities: Deferred taxes 47,425 (14,165 ) 33,260 Changes in operating assets and liabilities: Accounts receivable 75,508 (18,883 ) 56,625 Contract assets (37,623 ) 37,623 — Prepaid expenses and other current assets (819 ) 3,319 2,500 Income taxes and deferred charges and credits 27,291 101 27,392 Accounts payable and accrued liabilities (21,732 ) 173 (21,559 ) Deferred revenue (1,827 ) 26,841 25,014 Other assets (4 ) 5,934 5,930 Net cash provided by operating activities $ 876,278 $ — $ 876,278

Allowance for Doubtful Accoun_2

Allowance for Doubtful Accounts (Tables)12 Months Ended
Jun. 30, 2019
Receivables [Abstract]
Changes in Carrying Amount of Allowance For Doubtful AccountsBalance as of June 30, 2016 $ 6,740 Bad debt expense 5,929 Write-off /adjustments (6,350 ) Balance as of June 30, 2017 6,319 Bad debt expense 9,942 Write-off /adjustments (6,520 ) Balance as of June 30, 2018 9,741 Bad debt expense 13,461 Write-off /adjustments (6,191 ) Balance as of June 30, 2019 $ 17,011

Property and Equipment (Tables)

Property and Equipment (Tables)12 Months Ended
Jun. 30, 2019
Property, Plant and Equipment [Abstract]
Components of Property and Equipment by TypeThe following represents the estimated useful lives of property and equipment as of June 30, 2019: Furniture and fixtures 5 years Office equipment 5 years Computer hardware 3 years Computer software 3 to 7 years Capitalized software 3 to 5 years Leasehold improvements Lesser of the lease term or 5 years Building 40 years As of June 30, 2019 Cost Accumulated Depreciation Net Furniture and fixtures $ 40,260 $ (26,492 ) $ 13,768 Office equipment 1,993 (1,576 ) 417 Computer hardware 258,802 (177,402 ) 81,400 Computer software 119,018 (87,240 ) 31,778 Capitalized software development costs 95,729 (56,205 ) 39,524 Leasehold improvements 113,510 (66,520 ) 46,990 Land and buildings 49,557 (13,981 ) 35,576 Total $ 678,869 $ (429,416 ) $ 249,453 As of June 30, 2018 Cost Accumulated Depreciation Net Furniture and fixtures $ 34,647 $ (21,488 ) $ 13,159 Office equipment 1,467 (687 ) 780 Computer hardware 207,381 (134,906 ) 72,475 Computer software 97,653 (59,485 ) 38,168 Capitalized software development costs 81,073 (41,556 ) 39,517 Leasehold improvements 118,200 (55,172 ) 63,028 Land and buildings 47,880 (10,802 ) 37,078 Total $ 588,301 $ (324,096 ) $ 264,205

Goodwill (Tables)

Goodwill (Tables)12 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes In Carrying Amount of GoodwillThe following table summarizes the changes in goodwill since June 30, 2017: Balance as at June 30, 2017 $ 3,416,749 Acquisition of Hightail (note 18) 7,293 Acquisition of Guidance (note 18) 129,800 Acquisition of Covisint (note 18) 26,905 Adjustments relating to acquisitions prior to Fiscal 2018 that had open measurement periods (note 18) (1,458 ) Adjustments on account of foreign exchange 840 Balance as of June 30, 2018 3,580,129 Acquisition of Catalyst Repository Systems Inc. (note 18) 30,973 Acquisition of Liaison Technologies, Inc. (note 18) 163,592 Adjustments on account of foreign exchange (4,786 ) Balance as of June 30, 2019 $ 3,769,908

Acquired Intangible Assets (Tab

Acquired Intangible Assets (Tables)12 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Calculation of Acquired Intangibles by Asset Class As of June 30, 2019 Cost Accumulated Amortization Net Technology assets $ 835,498 $ (349,259 ) $ 486,239 Customer assets 1,397,937 (737,672 ) 660,265 Total $ 2,233,435 $ (1,086,931 ) $ 1,146,504 As of June 30, 2018 Cost Accumulated Amortization Net Technology assets $ 985,226 $ (439,774 ) $ 545,452 Customer assets 1,348,510 (597,325 ) 751,185 Total $ 2,333,736 $ (1,037,099 ) $ 1,296,637
Calculation of Estimated Future Amortization ExpenseThe 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, 2020 $ 322,009 2021 230,648 2022 211,093 2023 144,128 2024 95,876 2025 and beyond 142,750 Total $ 1,146,504

Other Assets (Tables)

Other Assets (Tables)12 Months Ended
Jun. 30, 2019
Other Assets, Noncurrent Disclosure [Abstract]
Components of Other Assets As of June 30, 2019 As of June 30, 2018 Deposits and restricted cash $ 13,671 $ 9,479 Deferred implementation costs — 13,740 Capitalized costs to obtain a contract 35,593 13,027 Investments 67,002 49,635 Long-term prepaid expenses and other long-term assets 32,711 25,386 Total $ 148,977 $ 111,267

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)12 Months Ended
Jun. 30, 2019
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Current LiabilitiesAccounts payable and accrued liabilities are comprised of the following: As of June 30, 2019 As of June 30, 2018 Accounts payable—trade $ 46,323 $ 41,722 Accrued salaries and commissions 131,430 118,024 Accrued liabilities 117,551 108,903 Accrued interest on Senior Notes 24,786 24,786 Amounts payable in respect of restructuring and other Special charges 8,153 5,622 Asset retirement obligations 1,660 3,097 Total $ 329,903 $ 302,154
Schedule of Long-Term Accrued Liabilities As of June 30, 2019 As of June 30, 2018 Amounts payable in respect of restructuring and other Special charges $ 4,804 $ 4,362 Other accrued liabilities* 30,338 35,874 Asset retirement obligations 14,299 12,591 Total $ 49,441 $ 52,827 * Other accrued liabilities consist primarily of tenant allowances, deferred rent and lease fair value adjustments relating to certain facilities acquired through business acquisitions.

Long-Term Debt (Tables)

Long-Term Debt (Tables)12 Months Ended
Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of Long-Term DebtLong-term debt is comprised of the following: As of June 30, 2019 As of June 30, 2018 Total debt Senior Notes 2026 $ 850,000 $ 850,000 Senior Notes 2023 800,000 800,000 Term Loan B 987,500 997,500 Total principal payments due 2,637,500 2,647,500 Premium on Senior Notes 2026 5,405 6,018 Debt issuance costs (28,027 ) (32,995 ) Total amount outstanding 2,614,878 2,620,523 Less: Current portion of long-term debt Term Loan B 10,000 10,000 Total current portion of long-term debt 10,000 10,000 Non-current portion of long-term debt $ 2,604,878 $ 2,610,523

Pension Plans and Other Post _2

Pension Plans and Other Post Retirement Benefits (Tables)12 Months Ended
Jun. 30, 2019
Retirement Benefits [Abstract]
Schedule of Defined Benefit Plan and Long-Term Employee Benefit ObligationsThe following table provides details of our defined benefit pension plans and long-term employee benefit obligations for Open Text Document Technologies GmbH (CDT), GXS GmbH ( GXS GER ), GXS Philippines, Inc. ( GXS PHP ) and other plans as of June 30, 2019 and June 30, 2018 : As of June 30, 2019 Total benefit obligation Current portion of benefit obligation* Non-current portion of benefit obligation CDT defined benefit plan $ 35,836 $ 675 $ 35,161 GXS GER defined benefit plan 26,739 1,012 25,727 GXS PHP defined benefit plan 6,904 124 6,780 Other plans 8,052 481 7,571 Total $ 77,531 $ 2,292 $ 75,239 As of June 30, 2018 Total benefit obligation Current portion of benefit obligation* Non-current portion of benefit obligation CDT defined benefit plan $ 32,651 $ 655 $ 31,996 GXS GER defined benefit plan 25,382 1,027 24,355 GXS PHP defined benefit plan 3,853 138 3,715 Other plans 6,095 442 5,653 Total $ 67,981 $ 2,262 $ 65,719 * The current portion of the benefit obligation has been included within "Accrued salaries and commissions", all within "Accounts payable and accrued liabilities" in the Consolidated Balance Sheets (see note 9 "Accounts Payable and Accrued Liabilities").
Schedule of the Change in the Benefit Obligation of Defined Benefit PlanThe following are the details of the change in the benefit obligation for each of the above mentioned pension plans for the periods indicated: As of June 30, 2019 As of June 30, 2018 CDT GXS GER GXS PHP Total CDT GXS GER GXS PHP Total Benefit obligation—beginning of period $ 32,651 $ 25,382 $ 3,853 $ 61,886 $ 28,881 $ 23,730 $ 4,495 $ 57,106 Service cost 550 566 771 1,887 501 472 832 1,805 Interest cost 642 489 300 1,431 607 489 241 1,337 Benefits paid (626 ) (996 ) (140 ) (1,762 ) (580 ) (974 ) (141 ) (1,695 ) Actuarial (gain) loss 3,365 1,872 1,957 7,194 2,442 997 (1,313 ) 2,126 Foreign exchange (gain) loss (746 ) (574 ) 163 (1,157 ) 800 668 (261 ) 1,207 Benefit obligation—end of period 35,836 26,739 6,904 69,479 32,651 25,382 3,853 61,886 Less: Current portion (675 ) (1,012 ) (124 ) (1,811 ) (655 ) (1,027 ) (138 ) (1,820 ) Non-current portion of benefit obligation $ 35,161 $ 25,727 $ 6,780 $ 67,668 $ 31,996 $ 24,355 $ 3,715 $ 60,066
Components of Net Pension Expense for Pension PlanThe following are details of net pension expense relating to the following pension plans: Year Ended June 30, 2019 2018 Pension expense: CDT GXS GER GXS PHP Total CDT GXS GER GXS PHP Total Service cost $ 550 $ 566 $ 771 $ 1,887 $ 501 $ 472 $ 832 $ 1,805 Interest cost 642 489 300 1,431 607 489 241 1,337 Amortization of actuarial (gains) and losses 696 130 (562 ) 264 541 72 (241 ) 372 Net pension expense $ 1,888 $ 1,185 $ 509 $ 3,582 $ 1,649 $ 1,033 $ 832 $ 3,514
Schedule of Weighted-Average Key Assumptions Used for CDT Pension PlanIn determining the fair value of the pension plan benefit obligations as of June 30, 2019 and June 30, 2018 , respectively, we used the following weighted-average key assumptions: As of June 30, 2019 As of June 30, 2018 CDT GXS GER GXS PHP CDT GXS GER GXS PHP Assumptions: Salary increases 2.50% 2.50% 6.50% 3.50% 3.50% 6.50% Pension increases 2.00% 2.00% N/A 2.00% 2.00% N/A Discount rate 1.32% 1.32% 5.00% 2.00% 2.00% 7.25% Normal retirement age 65-67 65-67 60 65-67 65-67 60 Employee fluctuation rate: to age 20 —% —% 12.19% —% —% 12.19% to age 25 —% —% 16.58% —% —% 16.58% to age 30 1.00% —% 13.97% 1.00% —% 13.97% to age 35 0.50% —% 10.77% 0.50% —% 10.77% to age 40 —% —% 7.39% —% —% 7.39% to age 45 0.50% —% 3.28% 0.50% —% 3.28% to age 50 0.50% —% —% 0.50% —% —% from age 51 1.00% —% —% 1.00% —% —%
Anticipated Pension Payments Under Pension PlanAnticipated pension payments under the pension plans for the fiscal years indicated below are as follows: Fiscal years ending June 30, CDT GXS GER GXS PHP 2020 $ 675 $ 1,012 $ 161 2021 758 1,011 153 2022 832 1,044 352 2023 933 1,043 208 2024 1,041 1,050 272 2025 to 2028 6,009 5,308 2,389 Total $ 10,248 $ 10,468 $ 3,535

Share Capital, Option Plans a_2

Share Capital, Option Plans and Share-Based Payments (Tables)12 Months Ended
Jun. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Outstanding Under Various PlansA summary of stock options outstanding under our 2004 stock option plan is set forth below. All numbers shown in the chart below have been adjusted, where applicable, to account for the two-for-one stock splits that occurred on October 22, 2003, February 18, 2014 and January 24, 2017. 2004 Stock Option Plan Date of inception Oct-04 Eligibility Eligible employees, as determined by the Board of Directors Options granted to date 32,398,418 Options exercised to date (17,663,048) Options cancelled to date (7,632,617) Options outstanding 7,102,753 Termination grace periods Immediately “for cause”; 90 days for any other reason; 180 days due to death Vesting schedule 25% per year, unless otherwise specified Exercise price range $13.19 - $40.20 Expiration dates 11/2/2019 to 5/7/2026
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price RangeThe following table summarizes information regarding stock options outstanding at June 30, 2019: Options Outstanding Options Exercisable Range of Exercise Prices Number of options Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number of options Weighted Average Exercise Price $ 13.19 - $ 24.78 516,429 2.72 $ 21.81 354,551 $ 21.33 24.79 - 26.53 562,200 1.76 25.18 562,200 25.18 26.54 - 27.46 1,230,000 1.39 27.09 330,000 27.09 27.47 - 30.06 768,566 3.52 28.96 466,254 28.61 30.07 - 32.75 680,000 3.73 32.36 27,500 30.37 32.76 - 34.48 760,620 5.11 33.79 224,875 33.66 34.49 - 35.61 849,118 5.51 34.61 204,372 34.61 35.62 - 38.26 380,000 6.54 37.19 6,250 36.50 38.27 - 39.51 730,820 6.10 39.27 — — 39.52 - 40.20 625,000 6.85 40.10 — — $ 13.19 - $ 40.20 7,102,753 4.10 $ 31.82 2,176,002 $ 27.44
Summary of Share-based Compensation CostsTotal share-based compensation expense for the periods indicated below is detailed as follows: Year Ended June 30, 2019 2018 2017 Stock options $ 10,232 $ 9,828 $ 12,196 Performance Share Units (issued under LTIP) 3,461 3,553 3,624 Restricted Share Units (issued under LTIP) 5,917 6,602 6,452 Restricted Share Units (other) 175 936 2,804 Deferred Share Units (directors) 3,133 2,921 2,849 Employee Share Purchase Plan 3,852 3,754 2,582 Total share-based compensation expense $ 26,770 $ 27,594 $ 30,507
Summary of Option ActivityA summary of activity under our stock option plans for the year ended June 30, 2019 is as follows: Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (years) Aggregate Intrinsic Value ($’000s) Outstanding at June 30, 2018 7,078,435 $ 28.41 Granted 1,870,340 38.81 Exercised (1,472,031 ) 24.20 Forfeited or expired (373,991 ) 32.33 Outstanding at June 30, 2019 7,102,753 $ 31.82 4.10 $ 66,656 Exercisable at June 30, 2019 2,176,002 $ 27.44 3.03 $ 29,950 Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (years) Aggregate Intrinsic Value ($’000s) Outstanding at June 30, 2017 8,977,830 $ 24.57 Granted 1,322,340 34.60 Exercised (2,869,569 ) 18.94 Forfeited or expired (352,166 ) 30.81 Outstanding at June 30, 2018 7,078,435 $ 28.41 4.43 $ 48,405 Exercisable at June 30, 2018 2,482,288 $ 24.50 3.13 $ 26,539
Schedule of Weighted-Average Fair Value of Options and Weighted-Average Assumptions UsedFor the periods indicated, the weighted-average fair value of options and weighted-average assumptions were as follows: Year Ended June 30, 2019 2018 2017 Weighted–average fair value of options granted $ 8.39 $ 7.58 $ 7.06 Weighted-average assumptions used: Expected volatility 25.72 % 26.95 % 28.32 % Risk–free interest rate 2.57 % 2.18 % 1.46 % Expected dividend yield 1.54 % 1.50 % 1.43 % Expected life (in years) 4.44 4.38 4.51 Forfeiture rate (based on historical rates) 6 % 6 % 5 % Average exercise share price $ 38.81 $ 34.60 $ 31.75 Derived service period (in years)* N/A N/A 1.79

Guarantees and Contingencies (T

Guarantees and Contingencies (Tables)12 Months Ended
Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Contractual ObligationsWe have entered into the following contractual obligations with minimum payments for the indicated fiscal periods as follows: Payments due between Total July 1, 2019— July 1, 2020— July 1, 2022— July 1, 2024 Long-term debt obligations (1) $ 3,408,565 $ 147,059 $ 292,156 $ 1,045,567 $ 1,923,783 Operating lease obligations (2) 318,851 72,853 106,394 59,441 80,163 Purchase obligations 11,280 8,364 2,747 169 — $ 3,738,696 $ 228,276 $ 401,297 $ 1,105,177 $ 2,003,946 (1) Includes interest up to maturity and principal payments. Please see note 10 "Long-Term Debt" for more details. (2) Net of $30.7 million of sublease income to be received from properties which we have subleased to third parties.

Income Taxes (Tables)

Income Taxes (Tables)12 Months Ended
Jun. 30, 2019
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and ForeignThe following is a geographical breakdown of income before the provision for income taxes: Year Ended June 30, 2019 2018 2017 Domestic income (loss) $ 269,331 $ 238,405 $ 110,562 Foreign income 171,243 147,721 138,989 Income before income taxes $ 440,574 $ 386,126 $ 249,551
Schedule of Components of Income Tax Expense (Benefit)The provision for (recovery of) income taxes consisted of the following: Year Ended June 30, 2019 2018 2017 Current income taxes (recoveries): Domestic $ 7,862 $ 5,313 $ 12,238 Foreign 99,650 48,777 82,593 107,512 54,090 94,831 Deferred income taxes (recoveries): Domestic 52,889 61,678 (851,683 ) Foreign (5,464 ) 28,058 (19,512 ) 47,425 89,736 (871,195 ) Provision for (recovery of) income taxes $ 154,937 $ 143,826 $ (776,364 )
Schedule of Effective Income Tax Rate ReconciliationA reconciliation of the combined Canadian federal and provincial income tax rate with our effective income tax rate is as follows: Year Ended June 30, 2019 2018 2017 Expected statutory rate 26.5 % 26.5 % 26.5 % Expected provision for income taxes $ 116,752 $ 102,323 $ 66,131 Effect of foreign tax rate differences (1,344 ) 2,352 8,647 Change in valuation allowance (5,045 ) 1,779 520 Amortization of deferred charges — 4,242 6,298 Effect of permanent differences (577 ) 4,332 3,673 Effect of changes in unrecognized tax benefits 31,992 5,543 14,427 Effect of withholding taxes 2,097 7,927 3,845 Difference in tax filings from provision (250 ) 1,321 (7,836 ) Effect of U.S. tax reform — 19,037 — Effect of tax credits for research and development (13,550 ) (3,875 ) (2,643 ) Effect of accrual for undistributed earnings (13,112 ) (1,154 ) 5,613 Effect of Base Erosion and Anti-Abuse Tax (BEAT) 16,030 — — Other Items 5,473 (1 ) 1,075 Impact of internal reorganization of subsidiaries 16,471 — (876,114 ) $ 154,937 $ 143,826 $ (776,364 )
Schedule of Deferred Tax Assets and LiabilitiesThe primary components of the deferred tax assets and liabilities are as follows, for the periods indicated below: June 30, 2019 2018 Deferred tax assets Non-capital loss carryforwards $ 161,119 $ 129,436 Capital loss carryforwards 155 417 Undeducted scientific research and development expenses 137,253 123,114 Depreciation and amortization 683,777 829,369 Restructuring costs and other reserves 17,845 17,202 Deferred revenue 53,254 62,726 Other 59,584 57,461 Total deferred tax asset $ 1,112,987 $ 1,219,725 Valuation Allowance $ (77,328 ) $ (80,924 ) Deferred tax liabilities Scientific research and development tax credits $ (14,482 ) $ (13,342 ) Other (72,599 ) (82,668 ) Deferred tax liabilities $ (87,081 ) $ (96,010 ) Net deferred tax asset $ 948,578 $ 1,042,791 Comprised of: Long-term assets 1,004,450 1,122,729 Long-term liabilities (55,872 ) (79,938 ) $ 948,578 $ 1,042,791
Summary of Income Tax ContingenciesThe aggregate changes in the balance of our gross unrecognized tax benefits (including interest and penalties) were as follows: Unrecognized tax benefits as of July 1, 2017 $ 174,530 Increases on account of current year positions 6,483 Increases on account of prior year positions 17,794 Decreases due to settlements with tax authorities — Decreases due to lapses of statutes of limitations (20,995 ) Unrecognized tax benefits as of June 30, 2018 $ 177,812 Increases on account of current year positions 25,642 Increases on account of prior year positions 15,024 Decreases due to settlements with tax authorities — Decreases due to lapses of statutes of limitations (9,236 ) Unrecognized tax benefits as of June 30, 2019 $ 209,242
Interest and Penalties Related to Liabilities for Income Tax ExpenseWe recognize interest expense and penalties related to income tax matters in income tax expense. For the year ended June 30, 2019 , 2018 and 2017, we recognized the following amounts as income tax-related interest expense and penalties: Year Ended June 30, 2019 2018 2017 Interest expense $ 10,512 $ 6,233 $ 13,028 Penalties expense (recoveries) 945 (191 ) 438 Total $ 11,457 $ 6,042 $ 13,466
Interest Accrued and Penalties Accrued Related to Income Tax ExpenseThe following amounts have been accrued on account of income tax-related interest expense and penalties: As of June 30, 2019 As of June 30, 2018 Interest expense accrued * $ 64,530 $ 54,058 Penalties accrued * $ 2,525 $ 2,438 * These balances have been included within "Long-term income taxes payable" within the Consolidated Balance Sheets .

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)12 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on a Recurring BasisOur financial assets and liabilities measured at fair value on a recurring basis consisted of the following types of instruments as of June 30, 2019 and June 30, 2018 : June 30, 2019 June 30, 2018 Fair Market Measurements using: Fair Market Measurements using: June 30, 2019 Quoted prices in active markets for identical assets/ (liabilities) Significant other observable inputs Significant unobservable inputs June 30, 2018 Quoted prices in active markets for identical assets/ (liabilities) Significant other observable inputs Significant unobservable inputs (Level 1) (Level 2) (Level 3) (Level 1) (Level 2) (Level 3) Financial Assets: Derivative financial instrument asset (note 16) $ 736 N/A $ 736 N/A $ — N/A $ — N/A $ 736 N/A $ 736 N/A $ — N/A $ — N/A Financial Liabilities: Foreign currency forward contracts designated as cash flow hedges (note 16) $ — N/A $ — N/A $ (1,319 ) N/A $ (1,319 ) N/A $ — N/A $ — N/A $ (1,319 ) N/A $ (1,319 ) N/A

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)12 Months Ended
Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments in the Condensed Consolidated Balance SheetsThe effect of these derivative instruments on our Consolidated Financial Statements for the periods indicated below were as follows (amounts presented do not include any income tax effects). Fair Value of Derivative Instruments in the Consolidated Balance Sheets (see note 15 "Fair Value Measurement") As of June 30, 2019 As of June 30, 2018 Derivatives Balance Sheet Location Fair Value Fair Value Foreign currency forward contracts designated as cash flow hedges Prepaid expenses and other current assets (Accounts payable and accrued liabilities) $ 736 $ (1,319 )
Effects of Derivative Instruments on Income and Other Comprehensive Income (OCI)Effects of Derivative Instruments on Income and Other Comprehensive Income (OCI) Year Ended June 30, 2019 Derivatives in Cash Flow Hedging Relationship Amount of Gain or (Loss) Location of Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Location of Amount of Gain or (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) Foreign currency forward contracts $ 22 Operating $ (2,033 ) N/A $ — Year Ended June 30, 2018 Derivatives in Cash Flow Hedging Relationship Amount of Gain or (Loss) Location of Amount of Gain or Location of Amount of Gain or (Loss) Recognized in Foreign currency forward contracts $ (647 ) Operating $ 1,846 N/A $ —

Special Charges (Recoveries) (T

Special Charges (Recoveries) (Tables)12 Months Ended
Jun. 30, 2019
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring ReserveSpecial 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-related costs and other charges. Year Ended June 30, 2019 2018 2017 Fiscal 2019 Restructuring Plan $ 28,318 $ — $ — Fiscal 2018 Restructuring Plan 515 10,154 — Fiscal 2017 Restructuring Plan 898 7,207 33,827 Restructuring Plans prior to Fiscal 2017 Restructuring Plan (620 ) 279 (340 ) Acquisition-related costs 5,625 4,805 15,938 Other charges (recoveries) 983 6,766 14,193 Total $ 35,719 $ 29,211 $ 63,618
Fiscal 2019 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring ReserveA reconciliation of the beginning and ending liability for the year ended June 30, 2019 is shown below. Fiscal 2019 Restructuring Plan Workforce reduction Facility costs Total Balance payable as at June 30, 2018 $ — $ — $ — Accruals and adjustments 12,460 15,858 28,318 Cash payments (10,420 ) (4,739 ) (15,159 ) Non-cash adjustments — (3,393 ) (3,393 ) Foreign exchange (221 ) (2,438 ) (2,659 ) Balance payable as at June 30, 2019 $ 1,819 $ 5,288 $ 7,107 *non-cash adjustments primarily relate to the write-off of fixed assets associated with a restructured facility.
Fiscal 2018 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring ReserveA reconciliation of the beginning and ending liability for the year ended June 30, 2019 and 2018 is shown below. Fiscal 2018 Restructuring Plan Workforce reduction Facility costs Total Balance payable as at June 30, 2017 $ — $ — $ — Accruals and adjustments 8,511 1,643 10,154 Cash payments (8,845 ) (489 ) (9,334 ) Foreign exchange and other non-cash adjustments 892 11 903 Balance payable as at June 30, 2018 $ 558 $ 1,165 $ 1,723 Accruals and adjustments (20 ) 535 515 Cash payments (337 ) (928 ) (1,265 ) Foreign exchange and other non-cash adjustments (51 ) (286 ) (337 ) Balance payable as at June 30, 2019 $ 150 $ 486 $ 636
Fiscal 2017 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring ReserveA reconciliation of the beginning and ending liability for the year ended June 30, 2019 and 2018 is shown below. Fiscal 2017 Restructuring Plan Workforce reduction Facility costs Total Balance payable as at June 30, 2017 $ 10,045 $ 1,369 $ 11,414 Accruals and adjustments 3,432 3,775 7,207 Cash payments (12,342 ) (1,627 ) (13,969 ) Foreign exchange and other non-cash adjustments 455 (86 ) 369 Balance payable as at June 30, 2018 $ 1,590 $ 3,431 $ 5,021 Accruals and adjustments (254 ) 1,152 898 Cash payments (213 ) (1,290 ) (1,503 ) Foreign exchange and other non-cash adjustments (77 ) (344 ) (421 ) Balance payable as at June 30, 2019 $ 1,046 $ 2,949 $ 3,995

Acquisitions (Tables)

Acquisitions (Tables)12 Months Ended
Jun. 30, 2019
Catalyst Repository Systems Inc
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities AssumedThe recognized amounts of identifiable assets acquired and liabilities assumed, based upon their preliminary fair values as of January 31, 2019 , are set forth below: Current assets $ 9,699 Non-current tangible assets 5,754 Intangible customer assets 30,607 Intangible technology assets 11,658 Liabilities assumed (17,891 ) Total identifiable net assets 39,827 Goodwill 30,973 Net assets acquired $ 70,800
Liaison Technologies Inc.
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities AssumedThe recognized amounts of identifiable assets acquired and liabilities assumed, based upon their preliminary fair values as of December 17, 2018 , are set forth below: Current assets $ 23,006 Non-current tangible assets 5,168 Intangible customer assets 68,300 Intangible technology assets 107,000 Liabilities assumed (56,423 ) Total identifiable net assets 147,051 Goodwill 163,592 Net assets acquired $ 310,643
Hightail, Inc
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities AssumedThe recognized amounts of identifiable assets acquired and liabilities assumed, based upon their fair values as of February 14, 2018, are set forth below: Current assets $ 1,290 Non-current tangible assets 1,270 Intangible customer assets 12,900 Intangible technology assets 4,200 Liabilities assumed (6,418 ) Total identifiable net assets 13,242 Goodwill 7,293 Net assets acquired $ 20,535
Guidance Software Inc.
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities AssumedThe recognized amounts of identifiable assets acquired and liabilities assumed, based upon their fair values as of September 14, 2017, are set forth below: Current assets (inclusive of cash acquired of $5.7 million) $ 24,744 Non-current tangible assets 11,583 Intangible customer assets 71,230 Intangible technology assets 51,851 Liabilities assumed (48,670 ) Total identifiable net assets 110,738 Goodwill 129,800 Net assets acquired $ 240,538
Schedule of Business Acquisitions, by AcquisitionThe following tables summarize the consideration paid for Guidance and the amount of the assets acquired and liabilities assumed, as well as the goodwill recorded as of the acquisition date: Cash consideration* $ 237,291 Guidance shares already owned by OpenText through open market purchases (at fair value) 3,247 Purchase consideration $ 240,538 * Inclusive of $2.3 million previously accrued, but since paid as of September 30, 2018. See "Appraisal Proceedings" below for more information.
Covisint Corporation
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities AssumedThe recognized amounts of identifiable assets acquired and liabilities assumed, based upon their fair values as of July 26, 2017, are set forth below: Current assets (inclusive of cash acquired of $31.5 million) $ 41,586 Non-current tangible assets 3,426 Intangible customer assets 36,600 Intangible technology assets 17,300 Liabilities assumed (23,033 ) Total identifiable net assets 75,879 Goodwill 26,905 Net assets acquired $ 102,784
ECD Business
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities AssumedThe recognized amounts of identifiable assets acquired and liabilities assumed, based upon their fair values as of January 23, 2017 , are set forth below: Current assets $ 11,339 Non-current tangible assets 103,672 Intangible customer assets 407,000 Intangible technology assets 459,000 Liabilities assumed (182,301 ) Total identifiable net assets 798,710 Goodwill 823,684 Net assets acquired $ 1,622,394
CCM Business
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities AssumedThe recognized amounts of identifiable assets acquired and liabilities assumed, based upon their fair values as of July 31, 2016, are set forth below: Current assets $ 683 Non-current deferred tax asset 11,861 Non-current tangible assets 2,348 Intangible customer assets 64,000 Intangible technology assets 101,000 Liabilities assumed (38,090 ) Total identifiable net assets 141,802 Goodwill 173,198 Net assets acquired $ 315,000
Recommind, Inc.
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities AssumedThe recognized amounts of identifiable assets acquired and liabilities assumed, based upon their fair values as of July 20, 2016, are set forth below: Current assets $ 30,034 Non-current tangible assets 1,245 Intangible customer assets 51,900 Intangible technology assets 24,800 Long-term deferred tax liabilities (1,780 ) Other liabilities assumed (27,497 ) Total identifiable net assets 78,702 Goodwill 91,405 Net assets acquired $ 170,107

Segment Information (Tables)

Segment Information (Tables)12 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]
Revenue From External Customers Attributed To Foreign Countries By Geographic AreaThe following table sets forth the distribution of revenues, by significant geographic area, for the periods indicated: Year Ended June 30, 2019 2018 2017 Revenues: Canada $ 153,890 $ 149,812 $ 227,115 United States 1,490,863 1,425,244 1,090,049 United Kingdom 182,815 201,821 159,817 Germany 203,403 198,253 166,611 Rest of Europe 534,204 517,693 394,132 All other countries 303,580 322,418 253,333 Total revenues $ 2,868,755 $ 2,815,241 $ 2,291,057
Entity-Wide Disclosure On Geographic Areas, Long-Lived Assets In Individual Foreign Countries By CountryThe following table sets forth the distribution of long-lived assets, representing property and equipment and intangible assets, by significant geographic area, as of the periods indicated below. As of June 30, 2019 As of June 30, 2018 Long-lived assets: Canada $ 799,928 $ 1,027,858 United States 502,844 441,940 United Kingdom 10,068 13,253 Germany 6,310 8,282 Rest of Europe 31,455 17,104 All other countries 45,352 52,405 Total $ 1,395,957 $ 1,560,842

Supplemental Cash Flow Disclo_2

Supplemental Cash Flow Disclosures (Tables)12 Months Ended
Jun. 30, 2019
Supplemental Cash Flow Information [Abstract]
Supplemental Disclosure of Cash Flow Information Year Ended June 30, 2019 2018 2017 Cash paid during the period for interest $ 138,631 $ 132,799 $ 115,117 Cash received during the period for interest $ 8,014 $ 1,672 $ 3,115 Cash paid during the period for income taxes $ 80,583 $ 73,437 $ 83,086

Earnings Per Share (Tables)

Earnings Per Share (Tables)12 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Year Ended June 30, 2019 2018 2017 Basic earnings per share Net income attributable to OpenText $ 285,501 $ 242,224 $ 1,025,659 (1) Basic earnings per share attributable to OpenText $ 1.06 $ 0.91 $ 4.04 Diluted earnings per share Net income attributable to OpenText $ 285,501 $ 242,224 $ 1,025,659 (1) Diluted earnings per share attributable to OpenText $ 1.06 $ 0.91 $ 4.01 Weighted-average number of shares outstanding (in 000's) Basic 268,784 266,085 253,879 Effect of dilutive securities 1,124 1,407 1,926 Diluted 269,908 267,492 255,805 Excluded as anti-dilutive (2) 2,759 2,770 1,371 (1) Please also see note 14 "Income Taxes" for details relating to a one-time tax benefit of $876.1 million recorded during the three months ended September 30, 2016 in connection with an internal reorganization of our subsidiaries. (2) 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.

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details) - USD ($) $ in Thousands3 Months Ended12 Months Ended
Sep. 30, 2018Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Noncontrolling Interest [Line Items]
Acquisition of additional non-controlling interests $ 583 $ 0 $ 208
OT South Africa
Noncontrolling Interest [Line Items]
Ownership percentage by Open Text70.00%
GXS Singapore
Noncontrolling Interest [Line Items]
Ownership percentage by Open Text81.00%
GXS Korea
Noncontrolling Interest [Line Items]
Ownership percentage by Open Text85.00%
Acquisition of additional non-controlling interests $ 600

Basis of Presentation - Revenue

Basis of Presentation - Revenue Recognition (Details) - USD ($) $ in ThousandsJun. 30, 2019Jul. 01, 2018Jun. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings $ 2,113,883 $ 1,994,235
Increase of capitalized sales commission costs48,284 35,151
Increase in net deferred tax liabilities55,872 $ 79,938
Accounting Standards Update 2014-09 | Adjustments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings(70,729) $ 30,000
Decrease in deferred revenues31,000
Decrease in deferred implementation costs22,000
Increase of capitalized sales commission costs14,000
Increase in contract assets18,000
Increase in net deferred tax liabilities $ (8,178) $ 11,000

Basis of Presentation - Income

Basis of Presentation - Income Taxes (Details) - USD ($) $ in ThousandsJun. 30, 2019Jul. 01, 2018Jun. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase to deferred tax assets $ 1,004,450 $ 1,122,729
Accounting Standards Update 2016-16
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle(26,780)
Decrease in deferred costs $ 38,000
Increase to deferred tax assets8,000
Decrease to deferred credits3,000
Accounting Standards Update 2016-16 | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle $ (27,000) $ (26,780)

Basis of Presentation - Restric

Basis of Presentation - Restricted Cash (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash provided by operating activities $ 876,278 $ 708,081 $ 440,353
Cash, cash equivalents and restricted cash at beginning of the period683,991 446,210 1,285,510
Increase (decrease) in cash, cash equivalents and restricted cash during the period259,552 237,781 (839,300)
Cash, cash equivalents and restricted cash at end of the period943,543 683,991 446,210
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash provided by operating activities709,885 439,253
Cash, cash equivalents and restricted cash at beginning of the period682,942 443,357 1,283,757
Increase (decrease) in cash, cash equivalents and restricted cash during the period239,585 (840,400)
Cash, cash equivalents and restricted cash at end of the period682,942 443,357
Adjustments | Accounting Standards Update 2016-18
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash provided by operating activities(1,804)1,100
Cash, cash equivalents and restricted cash at beginning of the period $ 1,049 2,853 1,753
Increase (decrease) in cash, cash equivalents and restricted cash during the period(1,804)1,100
Cash, cash equivalents and restricted cash at end of the period $ 1,049 $ 2,853

Basis of Presentation - Pension

Basis of Presentation - Pension Expense (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total cost of revenues $ 930,703 $ 950,999 $ 761,557
Gross profit1,938,052 1,864,242 1,529,500
Research and development321,836 322,909 281,215
Sales and marketing518,035 529,141 444,454
General and administrative207,909 205,227 170,353
Total operating expense1,371,042 1,357,549 1,174,800
Income from operations567,010 506,693 354,700
Interest and other related expense, net(136,592)(138,540)(120,892)
Cloud services and subscriptions
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs of revenues383,993 364,160 299,850
Customer support
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs of revenues124,343 133,889 122,565
Professional service and other
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs of revenues $ 224,635 253,389 194,954
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total cost of revenues951,411 762,391
Gross profit1,863,830 1,528,666
Research and development323,461 281,680
Sales and marketing529,381 444,838
General and administrative205,313 170,438
Total operating expense1,358,427 1,175,734
Income from operations505,403 352,932
Interest and other related expense, net(137,250)(119,124)
As Previously Reported | Cloud services and subscriptions
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs of revenues364,091 300,255
As Previously Reported | Customer support
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs of revenues134,089 122,753
As Previously Reported | Professional service and other
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs of revenues253,670 195,195
Accounting Standards Update 2017-07 | Adjustments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total cost of revenues(412)(834)
Gross profit412 834
Research and development(552)(465)
Sales and marketing(240)(384)
General and administrative(86)(85)
Total operating expense(878)(934)
Income from operations1,290 1,768
Interest and other related expense, net(1,290)(1,768)
Accounting Standards Update 2017-07 | Adjustments | Cloud services and subscriptions
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs of revenues69 (405)
Accounting Standards Update 2017-07 | Adjustments | Customer support
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs of revenues(200)(188)
Accounting Standards Update 2017-07 | Adjustments | Professional service and other
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Costs of revenues $ (281) $ (241)

Accounting Policies and Recen_4

Accounting Policies and Recent Accounting Pronouncements - Accounts Receivable and Allowance for Doubtful Accounts (Details)12 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]
Percentage for allowance maintained on bad-debts100.00%

Accounting Policies and Recen_5

Accounting Policies and Recent Accounting Pronouncements - Property and Equipment (Details) - USD ($)12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Property, Plant and Equipment [Line Items]
Impairment charges for long-lived assets $ 0 $ 0 $ 0
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful life5 years
Office equipment
Property, Plant and Equipment [Line Items]
Useful life5 years
Computer hardware
Property, Plant and Equipment [Line Items]
Useful life3 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Useful life5 years
Building
Property, Plant and Equipment [Line Items]
Useful life40 years
Minimum | Computer software
Property, Plant and Equipment [Line Items]
Useful life3 years
Minimum | Capitalized software development costs
Property, Plant and Equipment [Line Items]
Useful life3 years
Maximum | Computer software
Property, Plant and Equipment [Line Items]
Useful life7 years
Maximum | Capitalized software development costs
Property, Plant and Equipment [Line Items]
Useful life5 years

Accounting Policies and Recen_6

Accounting Policies and Recent Accounting Pronouncements - Capitalized Software (Details) - Capitalized software development costs - USD ($) $ in Millions12 Months Ended
Jun. 30, 2019Jun. 30, 2018
Property, Plant and Equipment [Line Items]
Capitalized software development costs $ 95.7 $ 81.1
Additions related to capitalized software development costs $ 14.3 $ 14.6
Minimum
Property, Plant and Equipment [Line Items]
Useful life3 years
Maximum
Property, Plant and Equipment [Line Items]
Useful life5 years

Accounting Policies and Recen_7

Accounting Policies and Recent Accounting Pronouncements - Impairment of Long-lived Assets (Details) - USD ($)12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Accounting Policies [Abstract]
Impairment of long-lived assets $ 0 $ 0 $ 0

Accounting Policies and Recen_8

Accounting Policies and Recent Accounting Pronouncements - Goodwill (Details) - USD ($)12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Accounting Policies [Abstract]
Goodwill impairment $ 0 $ 0 $ 0

Accounting Policies and Recen_9

Accounting Policies and Recent Accounting Pronouncements - Foreign Currency (Details) - USD ($) $ in Millions12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Other Income (Expense)
Intercompany Foreign Currency Balance [Line Items]
Transactional foreign currency gains (losses) $ (4.3) $ 4.8 $ 3.1

Accounting Policies and Rece_10

Accounting Policies and Recent Accounting Pronouncements - Recent Accounting Pronouncements, Leases (Details) - Forecast - Accounting Standards Update 2016-02 $ in MillionsJul. 01, 2019USD ($)
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, ROU assets $ 218
Operating lease, liabilities255
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, ROU assets228
Operating lease, liabilities $ 265

Revenues - Additional Informati

Revenues - Additional Information (Details)12 Months Ended
Jun. 30, 2019revenue_stream
Revenue from Contract with Customer [Abstract]
Number of revenue streams4
Disaggregation of Revenue [Line Items]
Description of timing As a practical expedient, we do not account for significant financing components if the period between when we transfer the promised good or service to the customer and when the customer pays for the product or service will be one year or less.We apply the practical expedient and do not disclose performance obligations that have original expected durations of one year or less.
Minimum
Disaggregation of Revenue [Line Items]
Payment period30 days
Maximum
Disaggregation of Revenue [Line Items]
Payment period60 days

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Disaggregation of Revenue [Line Items]
Total revenues $ 2,868,755 $ 2,815,241 $ 2,291,057
Point in time
Disaggregation of Revenue [Line Items]
Total revenues428,092
Over time (including professional service and other revenue)
Disaggregation of Revenue [Line Items]
Total revenues2,440,663
Recurring revenue (4)
Disaggregation of Revenue [Line Items]
Total revenues2,155,727
Cloud services and subscriptions
Disaggregation of Revenue [Line Items]
Total revenues907,812 828,968 705,495
Customer support revenue
Disaggregation of Revenue [Line Items]
Total revenues1,247,915 1,232,504 981,102
License revenue (perpetual, term and subscriptions)
Disaggregation of Revenue [Line Items]
Total revenues428,092 437,512 369,144
Professional service and other revenue
Disaggregation of Revenue [Line Items]
Total revenues284,936 $ 316,257 $ 235,316
Americas
Disaggregation of Revenue [Line Items]
Total revenues1,683,282
EMEA
Disaggregation of Revenue [Line Items]
Total revenues920,422
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenues $ 265,051

Revenues - Contract Balances (D

Revenues - Contract Balances (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jul. 01, 2018Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Short-term contract assets $ 20,956 $ 5,474 $ 0
Long-term contract assets15,386 12,382 0
Short-term deferred revenue641,656 618,197 644,211
Long-term deferred revenue46,974 $ 64,743 $ 69,197
Contract assets reclassified to receivables19,200
Asset impairment0
Revenue recognized $ 617,000

Revenues - Incremental Costs of

Revenues - Incremental Costs of Obtaining a Contract with a Customer (Details) $ in Thousands12 Months Ended
Jun. 30, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Capitalized contract cost, amortization period6 years
Capitalized Contract Cost [Roll Forward]
Capitalized costs to obtain a contract as of July 1, 2018 $ 35,151
New capitalized costs incurred24,347
Amortization of capitalized costs(11,003)
Adjustments on account of foreign exchange(211)
Capitalized costs to obtain a contract as of June 30, 201948,284
Impairment loss $ 0

Revenues - Remaining Performanc

Revenues - Remaining Performance Obligations (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 $ in BillionsJun. 30, 2019USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation $ 1.1
Expected timing of satisfaction, period12 months

Revenues - Transaction Price Al

Revenues - Transaction Price Allocated to the Remaining Performance Obligations (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01Jun. 30, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage40.00%
Expected timing of satisfaction, period12 months

Revenues - Transaction Price _2

Revenues - Transaction Price Allocated to the Remaining Performance Obligations, Additional Information (Details)12 Months Ended
Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Description of timing As a practical expedient, we do not account for significant financing components if the period between when we transfer the promised good or service to the customer and when the customer pays for the product or service will be one year or less.We apply the practical expedient and do not disclose performance obligations that have original expected durations of one year or less.

Revenues - Impact on Condensed

Revenues - Impact on Condensed Consolidated Balance Sheets (Details) - USD ($) $ in ThousandsJun. 30, 2019Jul. 01, 2018Jun. 30, 2018Jun. 30, 2017Jun. 30, 2016
ASSETS
Contract assets $ 20,956 $ 5,474 $ 0
Prepaid expenses and other current assets97,238 101,059
Total current assets1,561,328 1,327,580
Long-term contract assets15,386 12,382 0
Deferred tax assets1,004,450 1,122,729
Other assets148,977 111,267
Total assets7,933,975 7,765,029
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable and accrued liabilities329,903 302,154
Deferred revenues641,656 618,197 644,211
Total current liabilities1,014,717 994,599
Deferred revenues46,974 64,743 69,197
Deferred tax liabilities55,872 79,938
Total long-term liabilities3,034,588 3,053,172
Accumulated other comprehensive income24,124 33,645
Retained earnings2,113,883 1,994,235
Total OpenText shareholders' equity3,883,455 3,716,221
Non-controlling interests1,215 1,037
Total shareholders’ equity3,884,670 3,717,258 $ 3,533,319 $ 1,979,197
Total liabilities and shareholders’ equity7,933,975 $ 7,765,029
Adjustments | Accounting Standards Update 2014-09
ASSETS
Contract assets(20,956)
Prepaid expenses and other current assets4,428
Total current assets(16,528)
Long-term contract assets(15,386)
Deferred tax assets16,631
Other assets(5,614)
Total assets(20,897)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable and accrued liabilities(55)
Deferred revenues24,635
Total current liabilities24,580
Deferred revenues32,170
Deferred tax liabilities(8,178)11,000
Total long-term liabilities23,992
Accumulated other comprehensive income1,260
Retained earnings(70,729) $ 30,000
Total OpenText shareholders' equity(69,469)
Non-controlling interests0
Total shareholders’ equity(69,469)
Total liabilities and shareholders’ equity(20,897)
Proforma as if Topic 605 was in effect
ASSETS
Contract assets0
Prepaid expenses and other current assets101,666
Total current assets1,544,800
Long-term contract assets0
Deferred tax assets1,021,081
Other assets143,363
Total assets7,913,078
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable and accrued liabilities329,848
Deferred revenues666,291
Total current liabilities1,039,297
Deferred revenues79,144
Deferred tax liabilities47,694
Total long-term liabilities3,058,580
Accumulated other comprehensive income25,384
Retained earnings2,043,154
Total OpenText shareholders' equity3,813,986
Non-controlling interests1,215
Total shareholders’ equity3,815,201
Total liabilities and shareholders’ equity $ 7,913,078

Revenues - Impact on Condense_2

Revenues - Impact on Condensed Consolidated Statements of Income (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues $ 2,868,755 $ 2,815,241 $ 2,291,057
Total cost of revenues930,703 950,999 761,557
Gross profit1,938,052 1,864,242 1,529,500
Sales and marketing518,035 529,141 444,454
Total operating expenses1,371,042 1,357,549 1,174,800
Income from operations567,010 506,693 354,700
Interest and other related expense, net(136,592)(138,540)(120,892)
Income before income taxes440,574 386,126 249,551
Provision for (recovery of) income taxes154,937 143,826 (776,364)
Net income for the period285,637 242,300 1,025,915
License
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues428,092 437,512 369,144
Costs of revenues14,347 13,693 13,632
Cloud services and subscriptions
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues907,812 828,968 705,495
Costs of revenues383,993 364,160 299,850
Customer support
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues1,247,915 1,232,504 981,102
Costs of revenues124,343 133,889 122,565
Professional service and other
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues284,936 316,257 235,316
Costs of revenues224,635 $ 253,389 $ 194,954
Adjustments | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues(45,651)
Total cost of revenues(333)
Gross profit(45,318)
Sales and marketing8,945
Total operating expenses8,945
Income from operations(54,263)
Interest and other related expense, net(801)
Income before income taxes(55,064)
Provision for (recovery of) income taxes(14,121)
Net income for the period(40,943)
Adjustments | License | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues(37,709)
Adjustments | Cloud services and subscriptions | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues(6,361)
Costs of revenues(338)
Adjustments | Customer support | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues(1,605)
Adjustments | Professional service and other | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues24
Costs of revenues5
Proforma as if Topic 605 was in effect
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues2,823,104
Total cost of revenues930,370
Gross profit1,892,734
Sales and marketing526,980
Total operating expenses1,379,987
Income from operations512,747
Interest and other related expense, net(137,393)
Income before income taxes385,510
Provision for (recovery of) income taxes140,816
Net income for the period244,694
Proforma as if Topic 605 was in effect | License
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues390,383
Proforma as if Topic 605 was in effect | Cloud services and subscriptions
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues901,451
Costs of revenues383,655
Proforma as if Topic 605 was in effect | Customer support
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues1,246,310
Proforma as if Topic 605 was in effect | Professional service and other
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Total revenues284,960
Costs of revenues $ 224,640

Revenues - Impact on Condense_3

Revenues - Impact on Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net income for the period $ 285,637 $ 242,300 $ 1,025,915
Deferred taxes47,425 89,736 (871,195)
Accounts receivable75,508 (22,566)(126,784)
Contract assets(37,623)0 0
Prepaid expenses and other current assets(819)(7,274)(7,766)
Income taxes and deferred charges and credits27,291 (31,323)(1,683)
Accounts payable and accrued liabilities(21,732)(91,650)53,490
Deferred revenue(1,827)35,629 3,484
Other assets(4)497 (21,699)
Net cash provided by operating activities876,278 $ 708,081 $ 440,353
Adjustments | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net income for the period(40,943)
Deferred taxes(14,165)
Accounts receivable(18,883)
Contract assets37,623
Prepaid expenses and other current assets3,319
Income taxes and deferred charges and credits101
Accounts payable and accrued liabilities173
Deferred revenue26,841
Other assets5,934
Net cash provided by operating activities0
Proforma as if Topic 605 was in effect
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net income for the period244,694
Deferred taxes33,260
Accounts receivable56,625
Contract assets0
Prepaid expenses and other current assets2,500
Income taxes and deferred charges and credits27,392
Accounts payable and accrued liabilities(21,559)
Deferred revenue25,014
Other assets5,930
Net cash provided by operating activities $ 876,278

Allowance for Doubtful Accoun_3

Allowance for Doubtful Accounts - Changes In Carrying Amount (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance as of beginning of the period $ 9,741 $ 6,319 $ 6,740
Bad debt expense13,461 9,942 5,929
Write-off /adjustments(6,191)(6,520)(6,350)
Balance as of end of the period17,011 9,741 $ 6,319
Unbilled receivables $ 56,100 $ 55,500

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in ThousandsJun. 30, 2019Jun. 30, 2018
Property, Plant and Equipment [Line Items]
Cost $ 678,869 $ 588,301
Accumulated Depreciation(429,416)(324,096)
Net249,453 264,205
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Cost40,260 34,647
Accumulated Depreciation(26,492)(21,488)
Net13,768 13,159
Office equipment
Property, Plant and Equipment [Line Items]
Cost1,993 1,467
Accumulated Depreciation(1,576)(687)
Net417 780
Computer hardware
Property, Plant and Equipment [Line Items]
Cost258,802 207,381
Accumulated Depreciation(177,402)(134,906)
Net81,400 72,475
Computer software
Property, Plant and Equipment [Line Items]
Cost119,018 97,653
Accumulated Depreciation(87,240)(59,485)
Net31,778 38,168
Capitalized software development costs
Property, Plant and Equipment [Line Items]
Cost95,729 81,073
Accumulated Depreciation(56,205)(41,556)
Net39,524 39,517
Leasehold improvements
Property, Plant and Equipment [Line Items]
Cost113,510 118,200
Accumulated Depreciation(66,520)(55,172)
Net46,990 63,028
Land and buildings
Property, Plant and Equipment [Line Items]
Cost49,557 47,880
Accumulated Depreciation(13,981)(10,802)
Net $ 35,576 $ 37,078

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018
Goodwill [Roll Forward]
Beginning balance $ 3,580,129 $ 3,416,749
Adjustments relating to acquisitions prior to Fiscal 2018 that had open measurement periods (note 18)(1,458)
Adjustments on account of foreign exchange(4,786)840
Ending balance3,769,908 3,580,129
Hightail, Inc
Goodwill [Roll Forward]
Acquisitions of business7,293
Guidance Software Inc.
Goodwill [Roll Forward]
Acquisitions of business129,800
Covisint Corporation
Goodwill [Roll Forward]
Acquisitions of business $ 26,905
Catalyst Repository Systems Inc
Goodwill [Roll Forward]
Acquisitions of business30,973
Liaison Technologies Inc.
Goodwill [Roll Forward]
Acquisitions of business $ 163,592

Acquired Intangible Assets - Ca

Acquired Intangible Assets - Calculation Of Acquired Intangibles By Asset Class (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018
Finite-Lived Intangible Assets, Net [Abstract]
Cost $ 2,233,435 $ 2,333,736
Accumulated Amortization(1,086,931)(1,037,099)
Total1,146,504 1,296,637
Technology assets
Finite-Lived Intangible Assets, Net [Abstract]
Cost835,498 985,226
Accumulated Amortization(349,259)(439,774)
Total486,239 545,452
Intangible assets fully amortized during the period $ 273,900
Weighted-average amortization period (in years) for acquired intangible assets6 years
Customer assets
Finite-Lived Intangible Assets, Net [Abstract]
Cost $ 1,397,937 1,348,510
Accumulated Amortization(737,672)(597,325)
Total660,265 $ 751,185
Intangible assets fully amortized during the period $ 49,500
Weighted-average amortization period (in years) for acquired intangible assets8 years

Acquired Intangible Assets - _2

Acquired Intangible Assets - Calculation Of Estimated Future Amortization Expense (Details) - USD ($) $ in ThousandsJun. 30, 2019Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
2020 $ 322,009
2021230,648
2022211,093
2023144,128
202495,876
2025 and beyond142,750
Total $ 1,146,504 $ 1,296,637

Other Assets - Schedule (Detail

Other Assets - Schedule (Details) - USD ($) $ in ThousandsJun. 30, 2019Jun. 30, 2018
Other Assets, Noncurrent Disclosure [Abstract]
Deposits and restricted cash $ 13,671 $ 9,479
Deferred implementation costs0 13,740
Capitalized costs to obtain a contract35,593 13,027
Investments67,002 49,635
Long-term prepaid expenses and other long-term assets32,711 25,386
Total other assets $ 148,977 $ 111,267

Other Assets - Additional Infor

Other Assets - Additional Information (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Schedule of Equity Method Investments [Line Items]
Income (loss) from equity method investments $ 13,668 $ 5,965 $ 5,952
Minimum
Schedule of Equity Method Investments [Line Items]
Ownership percentage4.00%
Maximum
Schedule of Equity Method Investments [Line Items]
Ownership percentage20.00%

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities - Schedule of Current Liabilities (Details) - USD ($) $ in ThousandsJun. 30, 2019Jun. 30, 2018
Accounts Payable and Accrued Liabilities [Abstract]
Accounts payable—trade $ 46,323 $ 41,722
Accrued salaries and commissions131,430 118,024
Accrued liabilities117,551 108,903
Accrued interest on Senior Notes24,786 24,786
Amounts payable in respect of restructuring and other Special charges8,153 5,622
Asset retirement obligations1,660 3,097
Total $ 329,903 $ 302,154

Accounts Payable and Accrued _4

Accounts Payable and Accrued Liabilities - Schedule of Long-Term Accrued Liabilities (Details) - USD ($) $ in ThousandsJun. 30, 2019Jun. 30, 2018
Accounts Payable and Accrued Liabilities [Abstract]
Amounts payable in respect of restructuring and other Special charges $ 4,804 $ 4,362
Other accrued liabilities30,338 35,874
Asset retirement obligations14,299 12,591
Total $ 49,441 $ 52,827

Accounts Payable and Accrued _5

Accounts Payable and Accrued Liabilities - Narrative (Details) - USD ($) $ in MillionsJun. 30, 2019Jun. 30, 2018
Accounts Payable and Accrued Liabilities [Abstract]
Present value of asset retirement obligation $ 16 $ 15.7
Undiscounted value of asset retirement obligation $ 17.6 $ 17.7

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in ThousandsJun. 30, 2019Jun. 30, 2018
Debt Instrument [Line Items]
Total principal payments due $ 2,637,500 $ 2,647,500
Premium on Senior Notes 20265,405 6,018
Debt issuance costs(28,027)(32,995)
Total amount outstanding2,614,878 2,620,523
Less:
Current portion of long-term debt10,000 10,000
Non-current portion of long-term debt2,604,878 2,610,523
Term Loan B
Debt Instrument [Line Items]
Total principal payments due987,500 997,500
Less:
Current portion of long-term debt10,000 10,000
Senior Notes | Senior Notes 2026
Debt Instrument [Line Items]
Total principal payments due850,000 850,000
Senior Notes | Senior Notes 2023
Debt Instrument [Line Items]
Total principal payments due $ 800,000 $ 800,000

Long-Term Debt - Senior Unsecur

Long-Term Debt - Senior Unsecured Fixed Rate Notes (Details) - USD ($)12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017Dec. 20, 2016May 31, 2016Jan. 15, 2015
Debt Instrument [Line Items]
Long-term debt $ 2,637,500,000 $ 2,647,500,000
Senior Notes | Senior Notes 2026
Debt Instrument [Line Items]
Debt instrument face amount $ 250,000,000 $ 600,000,000
Debt instrument stated interest rate5.875%
Debt premium issue price percentage102.75%
Long-term debt850,000,000 850,000,000
Interest expense49,900,000 49,900,000 $ 43,100,000
Senior Notes | Senior Notes 2023
Debt Instrument [Line Items]
Debt instrument face amount $ 800,000,000
Debt instrument stated interest rate5.625%
Long-term debt800,000,000 800,000,000
Interest expense $ 45,000,000 $ 45,000,000 $ 45,000,000

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($)May 30, 2018Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017Jan. 16, 2014
Debt Instrument [Line Items]
Long-term debt $ 2,637,500,000 $ 2,647,500,000
Revolver | Line of Credit
Debt Instrument [Line Items]
Interest expense0 9,000,000 $ 2,600,000
Credit agreement, maximum capacity450,000,000
Long-term debt $ 0
Proceeds from line of credit200,000,000 225,000,000
Repayments of debt375,000,000 50,000,000
Revolver | Line of Credit | LIBOR | Minimum
Debt Instrument [Line Items]
Interest addition to floating rate1.25%
Revolver | Line of Credit | LIBOR | Maximum
Debt Instrument [Line Items]
Interest addition to floating rate1.75%
Term Loan B
Debt Instrument [Line Items]
Debt instrument face amount $ 1,000,000,000 $ 800,000,000
Proceeds from issuance of debt $ 1,000,000,000
Term loan period, years7 years
Term loan quarterly repayment as percentage of principal0.25%
Effective interest rate percentage4.19%
Interest expense $ 41,100,000 27,900,000 $ 24,800,000
Long-term debt $ 987,500,000 $ 997,500,000
Term Loan B | LIBOR
Debt Instrument [Line Items]
Interest addition to floating rate1.75%

Pension Plans and Other Post _3

Pension Plans and Other Post Retirement Benefits - Schedule of Defined Benefit Plans and Long-Term Employee Benefit Obligations (Details) - USD ($) $ in ThousandsJun. 30, 2019Jun. 30, 2018
Assumptions:
Total benefit obligation $ 77,531 $ 67,981
Current portion of benefit obligation2,292 2,262
Non-current portion of benefit obligation75,239 65,719
Pension Plan | CDT defined benefit plan
Assumptions:
Total benefit obligation35,836 32,651
Current portion of benefit obligation675 655
Non-current portion of benefit obligation35,161 31,996
Pension Plan | GXS GER defined benefit plan
Assumptions:
Total benefit obligation26,739 25,382
Current portion of benefit obligation1,012 1,027
Non-current portion of benefit obligation25,727 24,355
Pension Plan | GXS PHP defined benefit plan
Assumptions:
Total benefit obligation6,904 3,853
Current portion of benefit obligation124 138
Non-current portion of benefit obligation6,780 3,715
Other plans
Assumptions:
Total benefit obligation8,052 6,095
Current portion of benefit obligation481 442
Non-current portion of benefit obligation $ 7,571 $ 5,653

Pension Plans and Other Post _4

Pension Plans and Other Post Retirement Benefits - Additional Information (Details) - Pension Plan12 Months Ended
Jun. 30, 2019USD ($)
CDT defined benefit plan
Assumptions:
Contributions made by employer to plan $ 0
Amount to be amortized from accumulated other comprehensive income (loss) over the next fiscal year900,000
GXS GER defined benefit plan
Assumptions:
Contributions made by employer to plan0
Amount to be amortized from accumulated other comprehensive income (loss) over the next fiscal year300,000
GXS PHP defined benefit plan
Assumptions:
Contributions made by employer to plan0
Amount to be amortized from accumulated other comprehensive income (loss) over the next fiscal year300,000
Fair value of plan assets $ 30,000

Pension Plans and Other Post _5

Pension Plans and Other Post Retirement Benefits - Schedule of the Change in Benefit Obligation (Details) - Pension Plan - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation—beginning of period $ 61,886 $ 57,106
Service cost1,887 1,805
Interest cost1,431 1,337
Benefits paid(1,762)(1,695)
Actuarial (gain) loss7,194 2,126
Foreign exchange (gain) loss(1,157)1,207
Benefit obligation—end of period69,479 61,886
Less: Current portion(1,811)(1,820)
Non-current portion of benefit obligation67,668 60,066
CDT defined benefit plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation—beginning of period32,651 28,881
Service cost550 501
Interest cost642 607
Benefits paid(626)(580)
Actuarial (gain) loss3,365 2,442
Foreign exchange (gain) loss(746)800
Benefit obligation—end of period35,836 32,651
Less: Current portion(675)(655)
Non-current portion of benefit obligation35,161 31,996
GXS GER defined benefit plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation—beginning of period25,382 23,730
Service cost566 472
Interest cost489 489
Benefits paid(996)(974)
Actuarial (gain) loss1,872 997
Foreign exchange (gain) loss(574)668
Benefit obligation—end of period26,739 25,382
Less: Current portion(1,012)(1,027)
Non-current portion of benefit obligation25,727 24,355
GXS PHP defined benefit plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation—beginning of period3,853 4,495
Service cost771 832
Interest cost300 241
Benefits paid(140)(141)
Actuarial (gain) loss1,957 (1,313)
Foreign exchange (gain) loss163 (261)
Benefit obligation—end of period6,904 3,853
Less: Current portion(124)(138)
Non-current portion of benefit obligation $ 6,780 $ 3,715

Pension Plans and Other Post _6

Pension Plans and Other Post Retirement Benefits - Components of Net Pension Expense (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Assumptions:
Net pension expense $ 4,624 $ 3,738 $ 3,893
Pension Plan
Assumptions:
Service cost1,887 1,805
Interest cost1,431 1,337
Amortization of actuarial (gains) and losses264 372
Net pension expense3,582 3,514
Pension Plan | CDT defined benefit plan
Assumptions:
Service cost550 501
Interest cost642 607
Amortization of actuarial (gains) and losses696 541
Net pension expense1,888 1,649
Pension Plan | GXS GER defined benefit plan
Assumptions:
Service cost566 472
Interest cost489 489
Amortization of actuarial (gains) and losses130 72
Net pension expense1,185 1,033
Pension Plan | GXS PHP defined benefit plan
Assumptions:
Service cost771 832
Interest cost300 241
Amortization of actuarial (gains) and losses(562)(241)
Net pension expense $ 509 $ 832

Pension Plans and Other Post _7

Pension Plans and Other Post Retirement Benefits - Schedule of Weighted-Average Key Assumptions Used for Pension Plans (Details) - Pension Plan12 Months Ended
Jun. 30, 2019Jun. 30, 2018
CDT
Assumptions:
Salary increases2.50%3.50%
Pension increases2.00%2.00%
Discount rate1.32%2.00%
CDT | to age 20
Assumptions:
Employee fluctuation rate0.00%0.00%
CDT | to age 25
Assumptions:
Employee fluctuation rate0.00%0.00%
CDT | to age 30
Assumptions:
Employee fluctuation rate1.00%1.00%
CDT | to age 35
Assumptions:
Employee fluctuation rate0.50%0.50%
CDT | to age 40
Assumptions:
Employee fluctuation rate0.00%0.00%
CDT | to age 45
Assumptions:
Employee fluctuation rate0.50%0.50%
CDT | to age 50
Assumptions:
Employee fluctuation rate0.50%0.50%
CDT | from age 51
Assumptions:
Employee fluctuation rate1.00%1.00%
CDT | Minimum
Assumptions:
Normal retirement age65 years65 years
CDT | Maximum
Assumptions:
Normal retirement age67 years67 years
GXS GER
Assumptions:
Salary increases2.50%3.50%
Pension increases2.00%2.00%
Discount rate1.32%2.00%
GXS GER | to age 20
Assumptions:
Employee fluctuation rate0.00%0.00%
GXS GER | to age 25
Assumptions:
Employee fluctuation rate0.00%0.00%
GXS GER | to age 30
Assumptions:
Employee fluctuation rate0.00%0.00%
GXS GER | to age 35
Assumptions:
Employee fluctuation rate0.00%0.00%
GXS GER | to age 40
Assumptions:
Employee fluctuation rate0.00%0.00%
GXS GER | to age 45
Assumptions:
Employee fluctuation rate0.00%0.00%
GXS GER | to age 50
Assumptions:
Employee fluctuation rate0.00%0.00%
GXS GER | from age 51
Assumptions:
Employee fluctuation rate0.00%0.00%
GXS GER | Minimum
Assumptions:
Normal retirement age65 years65 years
GXS GER | Maximum
Assumptions:
Normal retirement age67 years67 years
GXS PHP
Assumptions:
Salary increases6.50%6.50%
Discount rate5.00%7.25%
Normal retirement age60 years60 years
GXS PHP | to age 20
Assumptions:
Employee fluctuation rate12.19%12.19%
GXS PHP | to age 25
Assumptions:
Employee fluctuation rate16.58%16.58%
GXS PHP | to age 30
Assumptions:
Employee fluctuation rate13.97%13.97%
GXS PHP | to age 35
Assumptions:
Employee fluctuation rate10.77%10.77%
GXS PHP | to age 40
Assumptions:
Employee fluctuation rate7.39%7.39%
GXS PHP | to age 45
Assumptions:
Employee fluctuation rate3.28%3.28%
GXS PHP | to age 50
Assumptions:
Employee fluctuation rate0.00%0.00%
GXS PHP | from age 51
Assumptions:
Employee fluctuation rate0.00%0.00%

Pension Plans and Other Post _8

Pension Plans and Other Post Retirement Benefits - Anticipated Pension Payments Under Pension Plans (Details) - Pension Plan $ in ThousandsJun. 30, 2019USD ($)
CDT defined benefit plan
Assumptions:
2020 $ 675
2021758
2022832
2023933
20241,041
2025 to 20286,009
Total10,248
GXS GER defined benefit plan
Assumptions:
20201,012
20211,011
20221,044
20231,043
20241,050
2025 to 20285,308
Total10,468
GXS PHP defined benefit plan
Assumptions:
2020161
2021153
2022352
2023208
2024272
2025 to 20282,389
Total $ 3,535

Share Capital, Option Plans a_3

Share Capital, Option Plans and Share-Based Payments - Additional Information (Details) - USD ($)12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Cash Dividends
Dividends declared per common share (in dollars per share) $ 0.6300 $ 0.5478 $ 0.4770
Payments of dividends $ 168,859,000 $ 145,613,000 $ 120,581,000
Share Capital
Preference shares issued (in shares)0
Treasury Stock
Purchase of treasury stock (in shares)726,059 0 244,240
Purchase of treasury stock $ 26,499,000 $ 0 $ 8,198,000
Issuance of treasury stock (in shares)613,524 411,276 409,922

Share Capital, Option Plans a_4

Share Capital, Option Plans and Share-Based Payments - Summary of Stock Options Outstanding Under Various Stock Option Plans (Details) - $ / shares12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options grated to date (in shares)1,870,340 1,322,340
Options exercised to date (in shares)(1,472,031)(2,869,569)
Options outstanding (in shares)7,102,753 7,078,435 8,977,830
2004 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options grated to date (in shares)32,398,418
Options exercised to date (in shares)(17,663,048)
Options cancelled to date (in shares)(7,632,617)
Options outstanding (in shares)7,102,753
Vesting schedule25.00%
Minimum (in dollars per share) $ 13.19
Maximum (in dollars per share) $ 40.20
2004 Stock Option Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Termination grace periods90 days
2004 Stock Option Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Termination grace periods180 days

Share Capital, Option Plans a_5

Share Capital, Option Plans and Share-Based Payments - Summary of Information Regarding Stock Options Outstanding (Details) - $ / shares12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Options Outstanding
Number of options Outstanding as of June 30, 20197,102,753 7,078,435 8,977,830
Weighted Average Remaining Contractual Life (years)4 years 1 month 6 days4 years 5 months 4 days
Weighted Average Exercise Price $ 31.82 $ 28.41 $ 24.57
Options Exercisable
Number of options Exercisable as of June 30, 20192,176,002 2,482,288
Weighted Average Exercise Price $ 27.44 $ 24.50
Stock Options Exercise Price Range One
Range of Exercise Prices
Minimum (in dollars per share)13.19
Maximum (in dollars per share) $ 24.78
Options Outstanding
Number of options Outstanding as of June 30, 2019516,429
Weighted Average Remaining Contractual Life (years)2 years 8 months 19 days
Weighted Average Exercise Price $ 21.81
Options Exercisable
Number of options Exercisable as of June 30, 2019354,551
Weighted Average Exercise Price $ 21.33
Stock Options Exercise Price Range Two
Range of Exercise Prices
Minimum (in dollars per share)24.79
Maximum (in dollars per share) $ 26.53
Options Outstanding
Number of options Outstanding as of June 30, 2019562,200
Weighted Average Remaining Contractual Life (years)1 year 9 months 3 days
Weighted Average Exercise Price $ 25.18
Options Exercisable
Number of options Exercisable as of June 30, 2019562,200
Weighted Average Exercise Price $ 25.18
Stock Options Exercise Price Range Three
Range of Exercise Prices
Minimum (in dollars per share)26.54
Maximum (in dollars per share) $ 27.46
Options Outstanding
Number of options Outstanding as of June 30, 20191,230,000
Weighted Average Remaining Contractual Life (years)1 year 4 months 20 days
Weighted Average Exercise Price $ 27.09
Options Exercisable
Number of options Exercisable as of June 30, 2019330,000
Weighted Average Exercise Price $ 27.09
Stock Options Exercise Price Range Four
Range of Exercise Prices
Minimum (in dollars per share)27.47
Maximum (in dollars per share) $ 30.06
Options Outstanding
Number of options Outstanding as of June 30, 2019768,566
Weighted Average Remaining Contractual Life (years)3 years 6 months 7 days
Weighted Average Exercise Price $ 28.96
Options Exercisable
Number of options Exercisable as of June 30, 2019466,254
Weighted Average Exercise Price $ 28.61
Stock Options Exercise Price Range Five
Range of Exercise Prices
Minimum (in dollars per share)30.07
Maximum (in dollars per share) $ 32.75
Options Outstanding
Number of options Outstanding as of June 30, 2019680,000
Weighted Average Remaining Contractual Life (years)3 years 8 months 23 days
Weighted Average Exercise Price $ 32.36
Options Exercisable
Number of options Exercisable as of June 30, 201927,500
Weighted Average Exercise Price $ 30.37
Stock Options Exercise Price Range Six
Range of Exercise Prices
Minimum (in dollars per share)32.76
Maximum (in dollars per share) $ 34.48
Options Outstanding
Number of options Outstanding as of June 30, 2019760,620
Weighted Average Remaining Contractual Life (years)5 years 1 month 9 days
Weighted Average Exercise Price $ 33.79
Options Exercisable
Number of options Exercisable as of June 30, 2019224,875
Weighted Average Exercise Price $ 33.66
Stock Options Exercise Price Range Seven
Range of Exercise Prices
Minimum (in dollars per share)34.49
Maximum (in dollars per share) $ 35.61
Options Outstanding
Number of options Outstanding as of June 30, 2019849,118
Weighted Average Remaining Contractual Life (years)5 years 6 months 3 days
Weighted Average Exercise Price $ 34.61
Options Exercisable
Number of options Exercisable as of June 30, 2019204,372
Weighted Average Exercise Price $ 34.61
Stock Options Exercise Price Range Eight
Range of Exercise Prices
Minimum (in dollars per share)35.62
Maximum (in dollars per share) $ 38.26
Options Outstanding
Number of options Outstanding as of June 30, 2019380,000
Weighted Average Remaining Contractual Life (years)6 years 6 months 14 days
Weighted Average Exercise Price $ 37.19
Options Exercisable
Number of options Exercisable as of June 30, 20196,250
Weighted Average Exercise Price $ 36.50
Stock Options Exercise Price Range Nine
Range of Exercise Prices
Minimum (in dollars per share)38.27
Maximum (in dollars per share) $ 39.51
Options Outstanding
Number of options Outstanding as of June 30, 2019730,820
Weighted Average Remaining Contractual Life (years)6 years 1 month 6 days
Weighted Average Exercise Price $ 39.27
Options Exercisable
Number of options Exercisable as of June 30, 20190
Weighted Average Exercise Price $ 0
Stock Options Exercise Price Range Ten
Range of Exercise Prices
Minimum (in dollars per share)39.52
Maximum (in dollars per share) $ 40.20
Options Outstanding
Number of options Outstanding as of June 30, 2019625,000
Weighted Average Remaining Contractual Life (years)6 years 10 months 6 days
Weighted Average Exercise Price $ 40.10
Options Exercisable
Number of options Exercisable as of June 30, 20190
Weighted Average Exercise Price $ 0
Stock Options Exercise Price Range Eleven
Range of Exercise Prices
Minimum (in dollars per share)13.19
Maximum (in dollars per share) $ 40.20
Options Outstanding
Number of options Outstanding as of June 30, 20197,102,753
Weighted Average Remaining Contractual Life (years)4 years 1 month 6 days
Weighted Average Exercise Price $ 31.82
Options Exercisable
Number of options Exercisable as of June 30, 20192,176,002
Weighted Average Exercise Price $ 27.44

Share Capital, Option Plans a_6

Share Capital, Option Plans and Share-Based Payments - Schedule of Share-Based Payments (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense $ 26,770 $ 27,594 $ 30,507
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense10,232 9,828 12,196
Performance Share Units | Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense3,461 3,553 3,624
Restricted Stock Units (RSUs) | Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense5,917 6,602 6,452
Restricted Stock Units (RSUs) | Other plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense175 936 2,804
Deferred Share Units (directors)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense3,133 2,921 2,849
Employee Share Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense $ 3,852 $ 3,754 $ 2,582

Share Capital, Option Plans a_7

Share Capital, Option Plans and Share-Based Payments - Summary of Outstanding Stock Options, Narrative (Details) - USD ($)12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)7,102,753 7,078,435 8,977,830
Cash used to settle awards $ 0 $ 0
Capitalized amount of share-based compensation costs0 0
Cash proceeds from exercise of options granted35,600,000 54,400,000 $ 20,800,000
Tax benefit realized from exercise of options $ 2,900,000 $ 1,500,000 $ 2,200,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)7,102,753
Common shares available for issuance (in shares)9,397,479
Expiration period of options, minimum term7 years
Expiration period of options, maximum term10 years
Unrecognized compensation cost relating to unvested stock awards $ 24,100,000
Unvested stock awards compensation cost, weighted average recognition period3 years
Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period4 years
Stock Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period5 years

Share Capital, Option Plans a_8

Share Capital, Option Plans and Share-Based Payments - Schedule of Outstanding Stock Options Activity (Details) - USD ($) $ / shares in Units, $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018
Options
Outstanding at beginning of period (in shares)7,078,435 8,977,830
Granted (in shares)1,870,340 1,322,340
Exercised (in shares)(1,472,031)(2,869,569)
Forfeited or expired (in shares)(373,991)(352,166)
Outstanding at end of period (in shares)7,102,753 7,078,435
Exercisable ending balance (in shares)2,176,002 2,482,288
Weighted- Average Exercise Price
Outstanding at beginning of period (in dollars per share) $ 28.41 $ 24.57
Granted (in dollars per share)38.8134.60
Exercised (in dollars per share)24.2018.94
Forfeited or expired (in dollars per share)32.3330.81
Outstanding at end of period (in dollars per share)31.8228.41
Exercisable at end of period (in dollars per share) $ 27.44 $ 24.50
Weighted- Average Remaining Contractual Term (years)
Outstanding (in years)4 years 1 month 6 days4 years 5 months 4 days
Exercisable (in years)3 years 10 days3 years 1 month 17 days
Aggregate Intrinsic Value ($’000s)
Outstanding $ 66,656 $ 48,405
Exercisable $ 29,950 $ 26,539

Share Capital, Option Plans a_9

Share Capital, Option Plans and Share-Based Payments - Schedule of Weighted-Average Fair Value Of Options And Weighted-Average Assumptions Used (Details) - $ / shares12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted-average fair value of options granted (in dollars per share) $ 8.39 $ 7.58 $ 7.06
Weighted-average assumptions used:
Expected volatility25.72%26.95%28.32%
Risk–free interest rate2.57%2.18%1.46%
Expected dividend yield1.54%1.50%1.43%
Expected life (in years)4 years 5 months 8 days4 years 4 months 17 days4 years 6 months 3 days
Forfeiture rate (based on historical rates)6.00%6.00%5.00%
Average exercised share price (in dollars per share) $ 38.81 $ 34.60 $ 31.75
Derived service period (in years)1 year 9 months 14 days

Share Capital, Option Plans _10

Share Capital, Option Plans and Share-Based Payments - Long-Term Incentive Plans (Details) - USD ($)3 Months Ended12 Months Ended
Dec. 31, 2018Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of treasury stock (in shares)613,524 411,276 409,922
Purchase of treasury stock $ 26,499,000 $ 0 $ 8,198,000
Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of plan3 years
Compensation cost related to unvested awards not yet recognized $ 13,300,000
Unvested stock awards compensation cost, weighted average recognition period1 year 9 months 18 days
Fiscal 2018 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of treasury stock (in shares)539,103
Purchase of treasury stock $ 13,800,000
Treasury Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of treasury stock (in shares)614,000 411,000 410,000

Share Capital, Option Plans _11

Share Capital, Option Plans and Share-Based Payments - RSU's, DSU's and ESPP (Details) - USD ($) $ in Millions12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)0 4,464 19,300
Award vesting period3 years
Stock issued (in shares)22,627 98,625 70,000
Stock issued $ 0.7 $ 2.1 $ 1.5
Deferred Stock Units (DSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)100,271 87,501 91,680
Stock issued (in shares)51,794 0 0
Stock issued $ 2
Employee Share Purchase Plan (ESPP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards purchase price discount15.00%
Common shares eligible for issuance (in shares)696,091 729,521 530,170
Cash received from employee stock purchase plan $ 22.2 $ 21.5 $ 14.8

Guarantees and Contingencies -

Guarantees and Contingencies - Schedule of Contractual Obligations with Minimum Payments (Details) $ in ThousandsJun. 30, 2019USD ($)
Long term debt obligations
Total $ 3,408,565
July 1, 2019— June 30, 2020147,059
July 1, 2020— June 30, 2022292,156
July 1, 2022— June 30, 20241,045,567
July 1, 2024 and beyond1,923,783
Operating lease obligations
Total318,851
July 1, 2019— June 30, 202072,853
July 1, 2020— June 30, 2022106,394
July 1, 2022— June 30, 202459,441
July 1, 2024 and beyond80,163
Purchase obligations
Total11,280
July 1, 2019— June 30, 20208,364
July 1, 2020— June 30, 20222,747
July 1, 2022— June 30, 2024169
July 1, 2024 and beyond0
Total payments due between
Total3,738,696
July 1, 2019— June 30, 2020228,276
July 1, 2020— June 30, 2022401,297
July 1, 2022— June 30, 20241,105,177
July 1, 2024 and beyond2,003,946
Sublease income $ 30,700

Guarantees and Contingencies _2

Guarantees and Contingencies - Additional Information (Details) - USD ($) $ in ThousandsJul. 11, 2018Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Loss Contingencies [Line Items]
Settlement recovery $ (983) $ (6,766) $ (14,193)
GXS India
Loss Contingencies [Line Items]
Loss contingency accrual1,300
Internal Revenue Service (IRS)
Loss Contingencies [Line Items]
Estimated amount of loss resulting from an adverse tax position770,000
Income tax examination, tax455,000
Income tax examination, penalties130,000
Income tax examination, interest185,000
Internal Revenue Service (IRS) | Tax Year 2010
Loss Contingencies [Line Items]
Estimated amount of loss resulting from an adverse tax position $ 335,000
Additional tax expense, as a percent20.00%
Internal Revenue Service (IRS) | Tax Year 2012
Loss Contingencies [Line Items]
Additional tax expense, as a percent40.00%
Income tax examination, change in liability $ 80,000
Canada Revenue Agency (CRA)
Loss Contingencies [Line Items]
Estimated amount of loss resulting from an adverse tax position $ 25,000
Canada Revenue Agency (CRA) | Tax Year 2012
Loss Contingencies [Line Items]
Additional tax expense, as a percent10.00%
Canada Revenue Agency (CRA) | Tax Year 2013
Loss Contingencies [Line Items]
Additional tax expense, as a percent10.00%
Canada Revenue Agency (CRA) | Tax Year 2014
Loss Contingencies [Line Items]
Additional tax expense, as a percent10.00%
Pre-Acquisition Tax Liabilities Becoming Statute Barred
Loss Contingencies [Line Items]
Settlement recovery $ 1,500 $ 2,200 $ 4,500
Pre-Acquisition Tax Liabilities Becoming Statute Barred | GXS Brazil
Loss Contingencies [Line Items]
Settlement recovery1,500
Minimum | Canada Revenue Agency (CRA) | Tax Year 2012
Loss Contingencies [Line Items]
Income tax examination, estimate of increase to taxable income90,000
Minimum | Canada Revenue Agency (CRA) | Tax Year 2013
Loss Contingencies [Line Items]
Income tax examination, estimate of increase to taxable income90,000
Minimum | Canada Revenue Agency (CRA) | Tax Year 2014
Loss Contingencies [Line Items]
Income tax examination, estimate of increase to taxable income90,000
Maximum | Canada Revenue Agency (CRA) | Tax Year 2012
Loss Contingencies [Line Items]
Income tax examination, estimate of increase to taxable income100,000
Maximum | Canada Revenue Agency (CRA) | Tax Year 2013
Loss Contingencies [Line Items]
Income tax examination, estimate of increase to taxable income100,000
Maximum | Canada Revenue Agency (CRA) | Tax Year 2014
Loss Contingencies [Line Items]
Income tax examination, estimate of increase to taxable income $ 100,000

Income Taxes - Income Before Pr

Income Taxes - Income Before Provision for Income Tax (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Income Tax Disclosure [Abstract]
Domestic income (loss) $ 269,331 $ 238,405 $ 110,562
Foreign income171,243 147,721 138,989
Income before income taxes $ 440,574 $ 386,126 $ 249,551

Income Taxes - Components of In

Income Taxes - Components of Income Tax (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Current income taxes (recoveries):
Domestic $ 7,862 $ 5,313 $ 12,238
Foreign99,650 48,777 82,593
Total107,512 54,090 94,831
Deferred income taxes (recoveries):
Domestic52,889 61,678 (851,683)
Foreign(5,464)28,058 (19,512)
Total47,425 89,736 (871,195)
Provision for (recovery of) income taxes $ 154,937 $ 143,826 $ (776,364)

Income Taxes - Income Tax Recon

Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands3 Months Ended12 Months Ended
Sep. 30, 2016Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Income Tax Disclosure [Abstract]
Expected statutory rate26.50%26.50%26.50%
Expected provision for income taxes $ 116,752 $ 102,323 $ 66,131
Effect of foreign tax rate differences(1,344)2,352 8,647
Change in valuation allowance(5,045)1,779 520
Amortization of deferred charges0 4,242 6,298
Effect of permanent differences(577)4,332 3,673
Effect of changes in unrecognized tax benefits31,992 5,543 14,427
Effect of withholding taxes2,097 7,927 3,845
Difference in tax filings from provision(250)1,321 (7,836)
Effect of U.S. tax reform0 19,037 0
Effect of tax credits for research and development(13,550)(3,875)(2,643)
Effect of accrual for undistributed earnings(13,112)(1,154)5,613
Effect of Base Erosion and Anti-Abuse Tax (BEAT)16,030 0 0
Other Items5,473 (1)1,075
Impact of internal reorganization of subsidiaries $ (876,100)16,471 0 (876,114)
Provision for (recovery of) income taxes $ 154,937 $ 143,826 $ (776,364)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Income Tax Disclosure [Abstract]
Effective income tax rate35.20%37.20%
Increase (decrease) in income tax expense $ 11,100
Increase (decrease) in net income taxed at foreign rates10,700
Increase (decrease) in reserves for unrecognized tax benefits26,400
Effect of U.S. tax reform, BEAT16,100
Increase (decrease), impact of internal reorganizations of subsidiaries16,300
Impact of reversal of accruals for undistributed earnings(14,800)
Effect of U.S. tax reform0 $ 19,037 $ 0
Increase in tax credits for research and development(9,700)
Release of valuation allowance(6,800)
Impact of withholding taxes(5,800)
Operating Loss Carryforwards [Line Items]
Investment tax credit58,600
Unrecognized tax benefits of deferred tax assets offset by valuation allowance11,200
Net unrecognized tax benefit excluding portion offset by valuation allowance198,100 167,200
Possible decrease in tax expense in next 12 months17,500
Provision for deferred income tax liabilities17,400 28,500
TCJA tax expense, provisional $ 19,000
Measurement period adjustment(900)
TCJA tax expense, after adjustments18,100
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards242,300
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards387,600
Deferred tax assets, operating loss carryforwards, not subject to expiration $ 53,800

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in ThousandsJun. 30, 2019Jun. 30, 2018
Deferred tax assets
Non-capital loss carryforwards $ 161,119 $ 129,436
Capital loss carryforwards155 417
Undeducted scientific research and development expenses137,253 123,114
Depreciation and amortization683,777 829,369
Restructuring costs and other reserves17,845 17,202
Deferred revenue53,254 62,726
Other59,584 57,461
Total deferred tax asset1,112,987 1,219,725
Valuation Allowance(77,328)(80,924)
Deferred tax liabilities
Scientific research and development tax credits(14,482)(13,342)
Other(72,599)(82,668)
Deferred tax liabilities(87,081)(96,010)
Net deferred tax asset948,578 1,042,791
Comprised of:
Long-term assets1,004,450 1,122,729
Long-term liabilities $ (55,872) $ (79,938)

Income Taxes - Changes in the B

Income Taxes - Changes in the Balance of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits as of Beginning of the Period $ 177,812 $ 174,530
Increases on account of current year positions25,642 6,483
Increases on account of prior year positions15,024 17,794
Decreases due to settlements with tax authorities0 0
Decreases due to lapses of statutes of limitations(9,236)(20,995)
Unrecognized tax benefits as of End of the Period $ 209,242 $ 177,812

Income Taxes - Interest and Pen

Income Taxes - Interest and Penalties Related to Liabilities for Income Tax Expense (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Income Tax Disclosure [Abstract]
Interest expense $ 10,512 $ 6,233 $ 13,028
Penalties expense (recoveries)945 (191)438
Total $ 11,457 $ 6,042 $ 13,466

Income Taxes - Interest Accrued

Income Taxes - Interest Accrued and Penalties Accrued Related to Income Tax Expense (Details) - USD ($) $ in ThousandsJun. 30, 2019Jun. 30, 2018
Income Tax Disclosure [Abstract]
Interest expense accrued $ 64,530 $ 54,058
Penalties accrued $ 2,525 $ 2,438

Fair Value Measurement - Schedu

Fair Value Measurement - Schedule of Financial Assets and Liabilities (Details) - Fair Value, Measurements, Recurring - USD ($) $ in ThousandsJun. 30, 2019Jun. 30, 2018
Financial Assets:
Derivative financial instrument asset (note 16) $ 736 $ 0
Financial Assets736 0
Financial Liabilities:
Foreign currency forward contracts designated as cash flow hedges (note 16)0 (1,319)
Financial Liabilities0 (1,319)
Significant other observable inputs (Level 2)
Financial Assets:
Derivative financial instrument asset (note 16)736 0
Financial Assets736 0
Financial Liabilities:
Foreign currency forward contracts designated as cash flow hedges (note 16)0 (1,319)
Financial Liabilities $ 0 $ (1,319)

Fair Value Measurement - Assets

Fair Value Measurement - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Details) - USD ($)12 Months Ended
Jun. 30, 2019Jun. 30, 2018
Fair Value Disclosures [Abstract]
Assets, Level 1 to Level 2 transfers $ 0 $ 0
Liabilities, Level 1 to Level 2 transfers0 0
Assets, Level 2 to Level 1 transfers0 0
Liabilities, Level 2 to Level 1 transfers0 0
Asset transfers into Level 30 0
Liability transfers into Level 30 0
Asset transfers out of Level 30 0
Liability transfers out of Level 3 $ 0 $ 0

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Fair Value in the Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018
Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Notional amount of forward contracts held to sell U.S. dollars in exchange for Canadian dollars $ 62,000 $ 47,100
Prepaid Expenses and Other Current Assets | Cash Flow Hedging | Designated As Hedging Instrument | Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Fair Value Asset (Liability) $ 736
Accounts Payable and Accrued Liabilities | Cash Flow Hedging | Designated As Hedging Instrument | Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Fair Value Asset (Liability) $ (1,319)
Minimum
Derivatives, Fair Value [Line Items]
Contract maturity1 month
Maximum
Derivatives, Fair Value [Line Items]
Contract maturity12 months

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Effects on Income and Other Comprehensive Income (OCI) (Details) - Cash Flow Hedging - Foreign currency forward contracts - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018
Derivatives, Fair Value [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) $ 22 $ (647)
Amount of Gain or (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)0 0
Operating Expenses
Derivatives, Fair Value [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) $ (2,033) $ 1,846

Special Charges (Recoveries) -

Special Charges (Recoveries) - Schedule of Special Charges Related to Restructuring Plan (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Restructuring Cost and Reserve [Line Items]
Acquisition-related costs $ 5,625 $ 4,805 $ 15,938
Other charges (recoveries)983 6,766 14,193
Total35,719 29,211 63,618
Fiscal 2019 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Special charges28,318 0 0
Fiscal 2018 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Special charges515 10,154 0
Fiscal 2017 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Special charges898 7,207 33,827
Restructuring Plans prior to Fiscal 2017 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Special charges $ (620) $ 279 $ (340)

Special Charges (Recoveries) _2

Special Charges (Recoveries) - Additional Information (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Restructuring Cost and Reserve [Line Items]
Acquisition-related costs $ 5,625 $ 4,805 $ 15,938
Other charges (recoveries)983 6,766 14,193
Special Charges
Restructuring Cost and Reserve [Line Items]
Acquisition-related costs5,600 4,800 15,900
System Implementation Costs
Restructuring Cost and Reserve [Line Items]
Other charges (recoveries)1,100
Pre-Acquisition Tax Liabilities Becoming Statute Barred
Restructuring Cost and Reserve [Line Items]
Other charges (recoveries)(1,500)(2,200)(4,500)
One-time ERP Implementation Project
Restructuring Cost and Reserve [Line Items]
Other charges (recoveries)6,400 11,000
Miscellaneous Other Charges
Restructuring Cost and Reserve [Line Items]
Other charges (recoveries)1,400 4,900
Pre-Acquisition Sales and Use Tax Liabilities
Restructuring Cost and Reserve [Line Items]
Other charges (recoveries) $ (2,300)
Commitment Fees
Restructuring Cost and Reserve [Line Items]
Other charges (recoveries)6,500
Post-Acquisition Integration Costs
Restructuring Cost and Reserve [Line Items]
Other charges (recoveries)1,400
Assets Disposed
Restructuring Cost and Reserve [Line Items]
Other charges (recoveries)800
Interest on Certain Pre-Acquisition Liabilities
Restructuring Cost and Reserve [Line Items]
Other charges (recoveries) $ (1,300)
Fiscal 2019 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs30,000
Special charges recorded to date28,300
Fiscal 2018 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Special charges recorded to date10,700
Fiscal 2017 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Special charges recorded to date $ 41,900

Special Charges (Recoveries) _3

Special Charges (Recoveries) - Schedule of Restructuring Reserve (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018
Fiscal 2019 Restructuring Plan
Restructuring Reserve [Roll Forward]
Balance, beginning $ 0
Accruals and adjustments28,318
Cash payments(15,159)
Non-cash adjustments(3,393)
Foreign exchange(2,659)
Balance, end7,107 $ 0
Fiscal 2019 Restructuring Plan | Workforce Reduction
Restructuring Reserve [Roll Forward]
Balance, beginning0
Accruals and adjustments12,460
Cash payments(10,420)
Non-cash adjustments0
Foreign exchange(221)
Balance, end1,819 0
Fiscal 2019 Restructuring Plan | Facility Costs
Restructuring Reserve [Roll Forward]
Balance, beginning0
Accruals and adjustments15,858
Cash payments(4,739)
Non-cash adjustments(3,393)
Foreign exchange(2,438)
Balance, end5,288 0
Fiscal 2018 Restructuring Plan
Restructuring Reserve [Roll Forward]
Balance, beginning1,723 0
Accruals and adjustments515 10,154
Cash payments(1,265)(9,334)
Foreign exchange and other non-cash adjustments(337)903
Balance, end636 1,723
Fiscal 2018 Restructuring Plan | Workforce Reduction
Restructuring Reserve [Roll Forward]
Balance, beginning558 0
Accruals and adjustments(20)8,511
Cash payments(337)(8,845)
Foreign exchange and other non-cash adjustments(51)892
Balance, end150 558
Fiscal 2018 Restructuring Plan | Facility Costs
Restructuring Reserve [Roll Forward]
Balance, beginning1,165 0
Accruals and adjustments535 1,643
Cash payments(928)(489)
Foreign exchange and other non-cash adjustments(286)11
Balance, end486 1,165
Fiscal 2017 Restructuring Plan
Restructuring Reserve [Roll Forward]
Balance, beginning5,021 11,414
Accruals and adjustments898 7,207
Cash payments(1,503)(13,969)
Foreign exchange and other non-cash adjustments(421)369
Balance, end3,995 5,021
Fiscal 2017 Restructuring Plan | Workforce Reduction
Restructuring Reserve [Roll Forward]
Balance, beginning1,590 10,045
Accruals and adjustments(254)3,432
Cash payments(213)(12,342)
Foreign exchange and other non-cash adjustments(77)455
Balance, end1,046 1,590
Fiscal 2017 Restructuring Plan | Facility Costs
Restructuring Reserve [Roll Forward]
Balance, beginning3,431 1,369
Accruals and adjustments1,152 3,775
Cash payments(1,290)(1,627)
Foreign exchange and other non-cash adjustments(344)(86)
Balance, end $ 2,949 $ 3,431

Acquisitions - Acquisition of C

Acquisitions - Acquisition of Catalyst Repository Systems Inc. (Details) - USD ($) $ in ThousandsJan. 31, 2019Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Business Acquisition [Line Items]
Goodwill $ 3,769,908 $ 3,580,129 $ 3,416,749
Acquisition-related costs5,625 $ 4,805 $ 15,938
Catalyst Repository Systems Inc
Business Acquisition [Line Items]
Cash consideration $ 70,800
Goodwill30,973
Goodwill expected to be tax deductible3,100
Deferred revenue800
Acquired receivables, fair value10,800
Acquired receivables, gross contractual amount11,800
Acquired receivables, estimated uncollectible $ 1,000
Acquisition-related costs $ 1,000

Acquisitions - Acquisition of_2

Acquisitions - Acquisition of Catalyst Repository Systems Inc. Preliminary Purchase Price Allocation (Details) - USD ($) $ in ThousandsJun. 30, 2019Jan. 31, 2019Jun. 30, 2018Jun. 30, 2017
Business Acquisition [Line Items]
Goodwill $ 3,769,908 $ 3,580,129 $ 3,416,749
Catalyst Repository Systems Inc
Business Acquisition [Line Items]
Current assets $ 9,699
Non-current tangible assets5,754
Liabilities assumed(17,891)
Total identifiable net assets39,827
Goodwill30,973
Net assets acquired70,800
Catalyst Repository Systems Inc | Customer assets
Business Acquisition [Line Items]
Acquired intangible assets30,607
Catalyst Repository Systems Inc | Technology assets
Business Acquisition [Line Items]
Acquired intangible assets $ 11,658

Acquisitions - Acquisition of L

Acquisitions - Acquisition of Liaison Technologies, Inc. (Details) - USD ($) $ in ThousandsDec. 17, 2018Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Business Acquisition [Line Items]
Goodwill $ 3,769,908 $ 3,580,129 $ 3,416,749
Acquisition-related costs5,625 $ 4,805 $ 15,938
Liaison Technologies Inc.
Business Acquisition [Line Items]
Purchase consideration $ 310,600
Goodwill163,592
Goodwill expected to be tax deductible2,200
Deferred revenue7,600
Acquired receivables, fair value20,500
Acquired receivables, gross contractual amount22,200
Acquired receivables, estimated uncollectible $ 1,700
Acquisition-related costs $ 3,700

Acquisitions - Acquisition of_3

Acquisitions - Acquisition of Liaison Technologies, Inc., Preliminary Purchase Price Allocation (Details) (Details) - USD ($) $ in ThousandsJun. 30, 2019Dec. 17, 2018Jun. 30, 2018Jun. 30, 2017
Business Acquisition [Line Items]
Goodwill $ 3,769,908 $ 3,580,129 $ 3,416,749
Liaison Technologies Inc.
Business Acquisition [Line Items]
Current assets $ 23,006
Non-current tangible assets5,168
Liabilities assumed(56,423)
Total identifiable net assets147,051
Goodwill163,592
Net assets acquired310,643
Liaison Technologies Inc. | Customer assets
Business Acquisition [Line Items]
Acquired intangible assets68,300
Liaison Technologies Inc. | Technology assets
Business Acquisition [Line Items]
Acquired intangible assets $ 107,000

Acquisitions - Acquisition of H

Acquisitions - Acquisition of Hightail, Inc. (Details) - USD ($)Feb. 14, 2018Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Business Acquisition [Line Items]
Goodwill $ 3,769,908,000 $ 3,580,129,000 $ 3,416,749,000
Hightail, Inc
Business Acquisition [Line Items]
Purchase consideration $ 20,500,000
Goodwill7,293,000
Goodwill expected to be tax deductible0
Deferred revenue5,200,000
Deferred revenue adjustment2,000,000
Acquired receivables, fair value700,000
Acquired receivables, gross contractual amount800,000
Acquired receivables, estimated uncollectible $ 100,000

Acquisitions - Acquisition of_4

Acquisitions - Acquisition of Hightail, Inc., Purchase Price Allocation (Details) - USD ($) $ in ThousandsJun. 30, 2019Jun. 30, 2018Feb. 14, 2018Jun. 30, 2017
Business Acquisition [Line Items]
Goodwill $ 3,769,908 $ 3,580,129 $ 3,416,749
Hightail, Inc
Business Acquisition [Line Items]
Current assets $ 1,290
Non-current tangible assets1,270
Liabilities assumed(6,418)
Total identifiable net assets13,242
Goodwill7,293
Net assets acquired20,535
Hightail, Inc | Customer assets
Business Acquisition [Line Items]
Acquired intangible assets12,900
Hightail, Inc | Technology assets
Business Acquisition [Line Items]
Acquired intangible assets $ 4,200

Acquisitions - Acquisition of G

Acquisitions - Acquisition of Guidance Software (Details) - USD ($) $ in ThousandsSep. 14, 2017Jun. 30, 2018Jun. 30, 2019Dec. 31, 2017Aug. 31, 2017Jun. 30, 2017
Purchase Price Allocation
Goodwill $ 3,580,129 $ 3,769,908 $ 3,416,749
Guidance Software Inc.
Business Acquisition [Line Items]
Purchase consideration $ 240,538
Business Combination, Consideration Transferred [Abstract]
Cash consideration237,291
Guidance shares already owned by OpenText through open market purchases (at fair value)3,247
Purchase consideration240,538
Purchase Price Allocation
Current assets24,744
Non-current tangible assets11,583
Liabilities assumed(48,670)
Total identifiable net assets110,738
Goodwill129,800
Net assets acquired240,538
Cash acquired from acquisition5,700
Goodwill expected to be tax deductible1,900
Deferred revenue26,600
Deferred revenue adjustment7,600
Acquired receivables, fair value10,300
Acquired receivables, gross contractual amount11,800
Acquired receivables, estimated uncollectible1,500
Remeasurement gain $ 800
Guidance Software Inc. | Appraisal Proceedings
Business Combination, Consideration Transferred [Abstract]
Loss contingency accrual2,300 $ 2,300 $ 10,800
Guidance Software Inc. | Customer assets
Purchase Price Allocation
Acquired intangible assets71,230
Guidance Software Inc. | Technology assets
Purchase Price Allocation
Acquired intangible assets $ 51,851

Acquisitions - Appraisal Procee

Acquisitions - Appraisal Proceedings (Details) - Appraisal Proceedings - Guidance Software Inc. - USD ($) $ / shares in Units, $ in Millions3 Months Ended
Dec. 31, 2017Sep. 14, 2017Aug. 31, 2017
Business Acquisition [Line Items]
Shares outstanding at acquisition (in shares)1,519,569
Percent of shares outstanding5.00%
Loss contingency accrual $ 2.3 $ 2.3 $ 10.8
Share price (in dollars per share) $ 7.10
Payments for legal settlements $ 8.5

Acquisitions - Acquisition of_5

Acquisitions - Acquisition of Covisint Corporation (Details) - USD ($) $ in ThousandsJul. 26, 2017Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Purchase Price Allocation
Goodwill $ 3,769,908 $ 3,580,129 $ 3,416,749
Covisint Corporation
Business Acquisition [Line Items]
Purchase consideration $ 102,800
Purchase Price Allocation
Current assets41,586
Non-current tangible assets3,426
Liabilities assumed(23,033)
Total identifiable net assets75,879
Goodwill26,905
Net assets acquired102,784
Cash acquired from acquisition31,500
Goodwill expected to be tax deductible26,800
Deferred revenue12,200
Deferred revenue adjustment4,600
Acquired receivables, fair value7,800
Acquired receivables, gross contractual amount7,900
Acquired receivables, estimated uncollectible100
Covisint Corporation | Customer assets
Purchase Price Allocation
Acquired intangible assets36,600
Covisint Corporation | Technology assets
Purchase Price Allocation
Acquired intangible assets $ 17,300

Acquisitions - Acquisition of E

Acquisitions - Acquisition of ECD Business (Details) - USD ($) $ in ThousandsJan. 23, 2017Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Purchase Price Allocation
Goodwill $ 3,769,908 $ 3,580,129 $ 3,416,749
ECD Business
Business Acquisition [Line Items]
Purchase consideration $ 1,620,000
Purchase Price Allocation
Current assets11,339
Non-current tangible assets103,672
Liabilities assumed(182,301)
Total identifiable net assets798,710
Goodwill823,684
Net assets acquired1,622,394
Goodwill expected to be tax deductible378,500
Deferred revenue163,800
Deferred revenue adjustment52,000
Fair value assigned to contract8,400
Customer assets | ECD Business
Purchase Price Allocation
Acquired intangible assets407,000
Technology assets | ECD Business
Purchase Price Allocation
Acquired intangible assets $ 459,000

Acquisitions - Acquisition of_6

Acquisitions - Acquisition of CCM Business (Details) - USD ($) $ in ThousandsJul. 31, 2016Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Purchase Price Allocation
Goodwill $ 3,769,908 $ 3,580,129 $ 3,416,749
CCM Business
Business Acquisition [Line Items]
Purchase consideration $ 315,000
Purchase Price Allocation
Current assets683
Non-current deferred tax asset11,861
Non-current tangible assets2,348
Liabilities assumed(38,090)
Total identifiable net assets141,802
Goodwill173,198
Net assets acquired315,000
Goodwill expected to be tax deductible105,100
Customer assets | CCM Business
Purchase Price Allocation
Acquired intangible assets64,000
Technology assets | CCM Business
Purchase Price Allocation
Acquired intangible assets $ 101,000

Acquisitions - Acquisition of R

Acquisitions - Acquisition of Recommind, Inc (Details) - USD ($)Jul. 20, 2016Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Purchase Price Allocation
Goodwill $ 3,769,908,000 $ 3,580,129,000 $ 3,416,749,000
Recommind, Inc.
Business Acquisition [Line Items]
Purchase consideration $ 170,100,000
Purchase Price Allocation
Current assets30,034,000
Non-current tangible assets1,245,000
Long-term deferred tax liabilities(1,780,000)
Other liabilities assumed(27,497,000)
Total identifiable net assets78,702,000
Goodwill91,405,000
Net assets acquired170,107,000
Goodwill expected to be tax deductible0
Acquired receivables, gross contractual amount29,600,000
Acquired receivables, fair value28,700,000
Acquired receivables, estimated uncollectible900,000
Customer assets | Recommind, Inc.
Purchase Price Allocation
Acquired intangible assets51,900,000
Technology assets | Recommind, Inc.
Purchase Price Allocation
Acquired intangible assets $ 24,800,000

Segment Information - Additiona

Segment Information - Additional Information (Details)12 Months Ended
Jun. 30, 2019segment
Segment Reporting [Abstract]
Number of reportable segments1

Segment Information - Revenue F

Segment Information - Revenue From External Customers Attributed To Foreign Countries By Geographic Area (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues $ 2,868,755 $ 2,815,241 $ 2,291,057
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues153,890 149,812 227,115
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues1,490,863 1,425,244 1,090,049
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues182,815 201,821 159,817
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues203,403 198,253 166,611
Rest of Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues534,204 517,693 394,132
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues $ 303,580 $ 322,418 $ 253,333

Segment Information - Entity-Wi

Segment Information - Entity-Wide Disclosure On Geographic Areas, Long-Lived Assets In Individual Foreign Countries By Country (Details) - USD ($) $ in ThousandsJun. 30, 2019Jun. 30, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total $ 1,395,957 $ 1,560,842
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Total799,928 1,027,858
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total502,844 441,940
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Total10,068 13,253
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Total6,310 8,282
Rest of Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total31,455 17,104
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Total $ 45,352 $ 52,405

Supplemental Cash Flow Disclo_3

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Supplemental Cash Flow Information [Abstract]
Cash paid during the period for interest $ 138,631 $ 132,799 $ 115,117
Cash received during the period for interest8,014 1,672 3,115
Cash paid during the period for income taxes $ 80,583 $ 73,437 $ 83,086

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands3 Months Ended12 Months Ended
Sep. 30, 2016Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Basic earnings per share
Net income attributable to OpenText $ 285,501 $ 242,224 $ 1,025,659
Basic earnings per share attributable to OpenText (in dollars per share) $ 1.06 $ 0.91 $ 4.04
Diluted earnings per share
Net income attributable to OpenText $ 285,501 $ 242,224 $ 1,025,659
Diluted earnings per share attributable to OpenText (in dollars per share) $ 1.06 $ 0.91 $ 4.01
Weighted-average number of shares outstanding
Basic (in shares)268,784 266,085 253,879
Effect of dilutive securities (in shares)1,124 1,407 1,926
Diluted (in shares)269,908 267,492 255,805
Excluded as anti-dilutive (in shares)2,759 2,770 1,371
Income tax benefit from reorganization $ 876,100 $ (16,471) $ 0 $ 876,114

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions12 Months Ended
Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Director, Stephen Sadler
Related Party Transaction [Line Items]
Consultancy fees for business acquisition-related activities $ 0.6 $ 0.8 $ 0.8

Subsequent Event (Details)

Subsequent Event (Details) - $ / sharesJul. 31, 2019Jun. 30, 2019Jun. 30, 2018Jun. 30, 2017
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share) $ 0.6300 $ 0.5478 $ 0.4770
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per common share (in dollars per share) $ 0.1746