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INCOME TAXES (Tables) | 12 Months Ended
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Jun. 30, 2019
INCOME TAXES |
Components of (loss) income before income taxes |
|  | Fiscal Year Ended June 30,
|  | 2019 |  | 2018 |  | 2017
|  | (Amounts in thousands)
United States |  | $ | (3,776) |  | $ | (39,662) |  | $ | 15,253
Foreign |  |  | 110,353 |  |  | (64,917) |  |  | 103,613
|  | $ | 106,577 |  | $ | (104,579) |  | $ | 118,866
Components of income tax expense |
|  | Fiscal Year Ended June 30,
|  | 2019 |  | 2018 |  | 2017
|  | (Amounts in thousands)
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | (6,974) |  | $ | 24,621 |  | $ | 13,975
State |  |  | (13) |  |  | 253 |  |  | 308
Foreign |  |  | 26,230 |  |  | 22,741 |  |  | 10,602
|  | $ | 19,243 |  | $ | 47,615 |  | $ | 24,885
Deferred and others: |  |  |  |  |  |  |  |  |
Federal |  | $ | 916 |  | $ | (2,253) |  | $ | (1,443)
State |  |  | 17 |  |  | (223) |  |  | (18)
Foreign |  |  | (2,678) |  |  | (30,367) |  |  | 3,017
|  | $ | (1,745) |  | $ | (32,843) |  | $ | 1,556
Total income tax expense |  | $ | 17,498 |  | $ | 14,772 |  | $ | 26,441
Schedule of income tax expense and effective tax rate |
|  | Fiscal Year Ended June 30,
|  | 2019 |  | 2018 |  | 2017
|  | (Amounts in thousands)
Total expense computed by applying federal rates |  | $ | 22,381 |  | $ | (29,343) |  | $ | 41,603
State and provincial income taxes, net of federal benefit |  |  | 135 |  |  | (104) |  |  | 78
Excess depletion |  |  | (867) |  |  | (1,440) |  |  | (1,517)
Estimates for uncertain tax positions |  |  | 3,180 |  |  | 8,574 |  |  | 2,870
Statutory tax attributable to non-controlling interest |  |  | 1,013 |  |  | 1,736 |  |  | 3,162
Effect of foreign earnings |  |  | (6,921) |  |  | 1,230 |  |  | 3,046
Effect of foreign earnings indefinitely reinvested |  |  | — |  |  | (19,004) |  |  | (22,922)
Realized foreign exchange gains |  |  | — |  |  | 18,330 |  |  | —
Unrealized foreign exchange gains |  |  | (38) |  |  | (1,610) |  |  | (746)
Effects of US income tax reform |  |  | — |  |  | 30,675 |  |  | —
Changes in estimates |  |  | (1,538) |  |  | (70) |  |  | (3,676)
Valuation allowance |  |  | (47) |  |  | 6,337 |  |  | 4,374
Other |  |  | 200 |  |  | (539) |  |  | 169
|  | $ | 17,498 |  | $ | 14,772 |  | $ | 26,441
Schedule of deferred tax assets and liabilities |
|  | 2019 |  | 2018
|  | (Amounts in thousands)
Deferred tax assets: |  |  |  |  |  |
Stock-based compensation |  | $ | 1,118 |  | $ | 805
Net operating losses |  |  | 56 |  |  | 1,933
Foreign tax credits |  |  | 11,125 |  |  | 11,172
Other |  |  | 7,960 |  |  | 7,346
Total deferred tax assets |  |  | 20,259 |  |  | 21,256
Valuation allowance |  |  | (12,764) |  |  | (12,811)
Net deferred tax assets |  | $ | 7,495 |  | $ | 8,445
Deferred tax liabilities: |  |  |  |  |  |
Mineral property basis |  | $ | (74,360) |  | $ | (74,274)
Unrealized foreign exchange gains |  |  | (582) |  |  | (664)
2019 Notes |  |  | — |  |  | (2,631)
Investment in Peak Gold joint venture |  |  | (4,353) |  |  | (4,359)
Other |  |  | (150) |  |  | (213)
Total deferred tax liabilities |  |  | (79,445) |  |  | (82,141)
Total net deferred taxes |  | $ | (71,950) |  | $ | (73,696)
Reconciliation of beginning and ending amount of gross unrecognized tax benefit |
|  | 2019 |  | 2018 |  | 2017
|  | (Amounts in thousands)
Total gross unrecognized tax benefits at beginning of year |  | $ | 36,346 |  | $ | 28,542 |  | $ | 26,960
Additions / Reductions for tax positions of current year |  |  | 1,709 |  |  | 1,624 |  |  | 1,394
Additions / Reductions for tax positions of prior years |  |  | (912) |  |  | 6,180 |  |  | 188
Reductions due to settlements with taxing authorities |  |  | (596) |  |  | — |  |  | —
Reductions due to lapse of statute of limitations |  |  | — |  |  | — |  |  | —
Total amount of gross unrecognized tax benefits at end of year |  | $ | 36,547 |  | $ | 36,346 |  | $ | 28,542

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