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Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2017
Income Tax Disclosure [Abstract] |
Components of Earnings (Losses) Before Income Taxes | The components of earnings (losses) before income taxes were as follows:
Year Ended June 30, |  | 2017 |  |  | 2016 |  |  | 2015 |
($000) |  |  |  |  |  |  |  |  |  |  |  |
U.S. loss |  | $ | (6,944 | ) |  | $ | (5,809 | ) |  | $ | (5,326 | )
Non-U.S. income |  |  | 125,732 |  |  |  | 95,764 |  |  |  | 84,438 |
Earnings before income taxes |  | $ | 118,788 |  |  | $ | 89,955 |  |  | $ | 79,112 |
Components of Income Tax Expense | The components of income tax expense were as follows:
Year Ended June 30, |  | 2017 |  |  | 2016 |  |  | 2015 |
($000) |  |  |  |  |  |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 2,133 |  |  | $ | 3,704 |  |  | $ | (146 | )
State |  |  | 253 |  |  |  | 5 |  |  |  | 86 |
Foreign |  |  | 22,312 |  |  |  | 19,783 |  |  |  | 16,978 |
Total Current |  | $ | 24,698 |  |  | $ | 23,492 |  |  | $ | 16,918 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (6,963 | ) |  | $ | 2,759 |  |  | $ | (2,762 | )
State |  |  | (1,251 | ) |  |  | 1,302 |  |  |  | (251 | )
Foreign |  |  | 7,030 |  |  |  | (3,084 | ) |  |  | (768 | )
Total Deferred |  | $ | (1,184 | ) |  | $ | 977 |  |  | $ | (3,781 | )
Total Income Tax Expense |  | $ | 23,514 |  |  | $ | 24,469 |  |  | $ | 13,137 |
Schedule of Principal Items Comprising Deferred Income Taxes | Principal items comprising deferred income taxes were as follows:
June 30, |  | 2017 |  |  | 2016 |
($000) |  |  |  |  |  |  |  |
Deferred income tax assets |  |  |  |  |  |  |  |
Inventory capitalization |  | $ | 6,338 |  |  | $ | 6,814 |
Non-deductible accruals |  |  | 1,705 |  |  |  | 2,212 |
Accrued employee benefits |  |  | 9,738 |  |  |  | 15,543 |
Net-operating loss and credit carryforwards |  |  | 53,048 |  |  |  | 43,516 |
Share-based compensation expense |  |  | 12,386 |  |  |  | 11,693 |
Other |  |  | 1,761 |  |  |  | 1,770 |
Valuation allowances |  |  | (42,562 | ) |  |  | (42,641 | )
Total deferred income tax assets |  | $ | 42,414 |  |  | $ | 38,907 |
Deferred income tax liabilities |  |  |  |  |  |  |  |
Tax over book accumulated depreciation |  | $ | (7,803 | ) |  | $ | (9,759 | )
Intangible assets |  |  | (38,108 | ) |  |  | (29,628 | )
Tax on unremitted earnings |  |  | (6,210 | ) |  |  | (797 | )
Other |  |  | (2,615 | ) |  |  | (1,978 | )
Total deferred income tax liabilities |  | $ | (54,736 | ) |  | $ | (42,162 | )
Net deferred income taxes |  | $ | (12,322 | ) |  | $ | (3,255 | )
Schedule of Reconciliation of Income Tax Expense at Statutory Federal Rate to Reported Income Tax Expense | The reconciliation of income tax expense at the statutory federal rate to the reported income tax expense is as follows:
Year Ended June 30, |  | 2017 |  |  | % |  |  | 2016 |  |  | % |  |  | 2015 |  |  | % |
($000) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Taxes at statutory rate |  | $ | 41,576 |  |  |  | 35 |  |  | $ | 31,484 |  |  |  | 35 |  |  | $ | 27,689 |  |  |  | 35 |
Increase (decrease) in taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State income taxes-net of federal benefit |  |  | (641 | ) |  |  | - |  |  |  | 864 |  |  |  | 1 |  |  |  | (196 | ) |  |  | - |
Taxes on non U.S. earnings |  |  | (12,907 | ) |  |  | (11 | ) |  |  | (13,860 | ) |  |  | (15 | ) |  |  | (11,687 | ) |  |  | (15 | )
Valuation allowance |  |  | (806 | ) |  |  | (1 | ) |  |  | 8,464 |  |  |  | 9 |  |  |  | 678 |  |  |  | 1 |
Research and manufacturing incentive deductions |  |  | (3,346 | ) |  |  | (3 | ) |  |  | (3,074 | ) |  |  | (3 | ) |  |  | (2,573 | ) |  |  | (3 | )
Other |  |  | (362 | ) |  |  | - |  |  |  | 591 |  |  |  | - |  |  |  | (774 | ) |  |  | (1 | )
|  | $ | 23,514 |  |  |  | 20 |  |  | $ | 24,469 |  |  |  | 27 |  |  | $ | 13,137 |  |  |  | 17 |
Schedule of Gross Operating Loss Carryforwards and Tax Credit Carryforwards | The Company has the following gross operating loss carryforwards and tax credit carryforwards as of June 30, 2017:
Type |  | Amount |  |  | Expiration Date
($000) |  |  |  |  |  |
Tax credit carryforwards: |  |  |  |  |  |
Federal research and development credits |  | $ | 10,953 |  |  | June 2019-June 2037
Foreign tax credits |  |  | 4,539 |  |  | June 2024-June 2027
State tax credits |  |  | 4,820 |  |  | June 2018-June 2037
Operating loss carryforwards: |  |  |  |  |  |
Loss carryforwards - federal |  | $ | 100,922 |  |  | June 2020-June 2037
Loss carryforwards - state |  |  | 71,536 |  |  | June 2018-June 2037
Loss carryforwards - foreign |  |  | 2,610 |  |  | June 2018-June 2024
Schedule of Changes in Liability for Unrecognized Tax Benefits | Changes in the liability for unrecognized tax benefits for the fiscal years ended June 30, 2017, 2016 and 2015 were as follows:
|  | 2017 |  |  | 2016 |  |  | 2015 |
($000) |  |  |  |  |  |  |  |  |  |  |  |
Balance at Beginning of Year |  | $ | 5,559 |  |  | $ | 4,022 |  |  | $ | 2,775 |
Increases in current year tax positions |  |  | 895 |  |  |  | 2,146 |  |  |  | 2,450 |
Increases in prior year tax positions |  |  | 2,605 |  |  |  | 190 |  |  | 203 |
Decreases in prior year tax positions |  |  | - |  |  |  | (67 | ) |  |  | - |
Settlements |  |  | (1,143 | ) |  |  | - |  |  |  | - |
Expiration of statute of limitations |  |  | (339 | ) |  |  | (732 | ) |  |  | (1,406 | )
Balance at End of Year |  | $ | 7,577 |  |  | $ | 5,559 |  |  | $ | 4,022 |

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