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INCOME TAXES (Tables) | 12 Months Ended
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Jun. 30, 2017
INCOME TAXES |
Components of income before income taxes |
|  | Fiscal Year Ended June 30,
|  | 2017 |  | 2016 |  | 2015
|  | (Amounts in thousands)
United States |  | $ | 15,253 |  | $ | (230) |  | $ | 17,569
Foreign |  |  | 103,613 |  |  | (21,528) |  |  | 44,675
|  | $ | 118,866 |  | $ | (21,758) |  | $ | 62,244
Components of income tax expense |
|  | Fiscal Year Ended June 30,
|  | 2017 |  | 2016 |  | 2015
|  | (Amounts in thousands)
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 13,975 |  | $ | 45,878 |  | $ | 22,418
State |  |  | 308 |  |  | 135 |  |  | (36)
Foreign |  |  | 10,602 |  |  | 19,650 |  |  | 14,835
|  | $ | 24,885 |  | $ | 65,663 |  | $ | 37,217
Deferred and others: |  |  |  |  |  |  |  |  |
Federal |  | $ | (1,443) |  | $ | (6,986) |  | $ | (5,506)
State |  |  | (18) |  |  | (78) |  |  | (49)
Foreign |  |  | 3,017 |  |  | 2,081 |  |  | (22,096)
|  | $ | 1,556 |  | $ | (4,983) |  | $ | (27,651)
Total income tax expense |  | $ | 26,441 |  | $ | 60,680 |  | $ | 9,566
Schedule of income tax expense and effective tax rate |
|  | Fiscal Year Ended June 30,
|  | 2017 |  | 2016 |  | 2015
|  | (Amounts in thousands)
Total expense computed by applying federal rates |  | $ | 41,603 |  | $ | (7,615) |  | $ | 21,786
State and provincial income taxes, net of federal benefit |  |  | 78 |  |  | (1) |  |  | 25
Excess depletion |  |  | (1,517) |  |  | (882) |  |  | (1,429)
Estimates for uncertain tax positions |  |  | 2,870 |  |  | 1,866 |  |  | 1,404
Statutory tax attributable to non-controlling interest |  |  | 3,162 |  |  | 1,838 |  |  | (211)
Effect of foreign earnings |  |  | 3,046 |  |  | 61,576 |  |  | 6,536
Effect of foreign earnings indefinitely reinvested |  |  | (22,922) |  |  | 3,406 |  |  | (7,601)
Canadian rate adjustment |  |  | — |  |  | — |  |  | 4,070
Chilean tax reform |  |  | — |  |  | — |  |  | (2,481)
Unrealized foreign exchange gains |  |  | (746) |  |  | (2,439) |  |  | (10,949)
Changes in estimates |  |  | (3,676) |  |  | 1,641 |  |  | (359)
Valuation allowance |  |  | 4,374 |  |  | 849 |  |  | —
Other |  |  | 169 |  |  | 441 |  |  | (1,225)
|  | $ | 26,441 |  | $ | 60,680 |  | $ | 9,566
Schedule of deferred tax assets and liabilities |
|  | 2017 |  | 2016
|  | (Amounts in thousands)
Deferred tax assets: |  |  |  |  |  |
Stock-based compensation |  | $ | 5,979 |  | $ | 5,691
Net operating losses |  |  | 5,341 |  |  | 12,385
Foreign tax credits |  |  | 19,869 |  |  | —
Other |  |  | 7,382 |  |  | 4,610
Total deferred tax assets |  |  | 38,571 |  |  | 22,686
Valuation allowance |  |  | (6,474) |  |  | (2,100)
Net deferred tax assets |  | $ | 32,097 |  | $ | 20,586
Deferred tax liabilities: |  |  |  |  |  |
Mineral property basis |  | $ | (122,870) |  | $ | (127,337)
Unrealized foreign exchange gains |  |  | (1,097) |  |  | (1,273)
2019 Notes |  |  | (8,634) |  |  | (12,639)
Investment in the Peak Gold JV |  |  | (5,475) |  |  | —
Other |  |  | (595) |  |  | (124)
Total deferred tax liabilities |  |  | (138,671) |  |  | (141,373)
Total net deferred taxes |  | $ | (106,574) |  | $ | (120,787)
Reconciliation of beginning and ending amount of gross unrecognized tax benefit |
|  | 2017 |  | 2016 |  | 2015
|  | (Amounts in thousands)
Total gross unrecognized tax benefits at beginning of year |  | $ | 26,960 |  | $ | 26,120 |  | $ | 23,956
Additions / Reductions for tax positions of current year |  |  | 1,394 |  |  | 840 |  |  | 2,421
Additions / Reductions for tax positions of prior years |  |  | 188 |  |  | — |  |  | —
Reductions due to settlements with taxing authorities |  |  | — |  |  | — |  |  | (257)
Reductions due to lapse of statute of limitations |  |  | — |  |  | — |  |  | —
Total amount of gross unrecognized tax benefits at end of year |  | $ | 28,542 |  | $ | 26,960 |  | $ | 26,120

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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=65882285&loc=SL6600010-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32840-109319 + Details
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