XML 62 R48.htm IDEA: XBRL DOCUMENT
v3.10.0.1

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2018
Income Tax Disclosure [Abstract] |
Schedule of Income Loss Before Income Tax Expense | The domestic and foreign components of income before provision for income taxes are as follows (in thousands):
|  | Year ended June 30, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Domestic |  | $ | 279,360 |  |  | $ | 231,982 |  |  | $ | 207,641 |
Foreign |  |  | 19,304 |  |  |  | 16,637 |  |  |  | 15,971 |
Income before income taxes |  | $ | 298,664 |  |  | $ | 248,619 |  |  | $ | 223,612 |
Schedule of Components of Income Tax Expense (Benefit) | The components of income tax expense (benefit) are as follows (in thousands):
|  | Year ended June 30, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 56,467 |  |  | $ | 54,425 |  |  | $ | 54,507 |
State and local |  |  | 13,006 |  |  |  | 11,334 |  |  |  | 9,401 |
Foreign |  |  | 5,344 |  |  |  | 4,041 |  |  |  | 3,337 |
Total current |  |  | 74,817 |  |  |  | 69,800 |  |  |  | 67,245 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (80,395 | ) |  |  | 13,076 |  |  |  | 11,978 |
State and local |  |  | 3,481 |  |  |  | 2,917 |  |  |  | 2,028 |
Foreign |  |  | (410 | ) |  |  | (845 | ) |  |  | (438 | )
Total deferred |  |  | (77,324 | ) |  |  | 15,148 |  |  |  | 13,568 |
Total income tax (benefit) expense |  | $ | (2,507 | ) |  | $ | 84,948 |  |  | $ | 80,813 |
Schedule of Effective Income Tax Rate Reconciliation | Income tax expense differs from the amounts computed by applying the U.S. federal statutory income tax rate as a result of the following (in thousands):
|  | Year ended June 30, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Expected tax expense computed at federal statutory rate (1) |  | $ | 83,805 |  |  | $ | 87,017 |  |  | $ | 78,264 |
State and local taxes, net of federal benefit |  |  | 11,860 |  |  |  | 9,263 |  |  |  | 7,429 |
Nonincludible and nondeductible items, net |  |  | 1,832 |  |  |  | 1,087 |  |  |  | 2,936 |
Remeasurement of deferred taxes and transition tax |  |  | (86,593 | ) |  |  | — |  |  |  | — |
Effect of foreign tax rates |  |  | (1,261 | ) |  |  | (2,320 | ) |  |  | (2,308 | )
R&D tax credit |  |  | (3,630 | ) |  |  | (4,894 | ) |  |  | (135 | )
Other tax credits |  |  | (2,102 | ) |  |  | (1,321 | ) |  |  | (1,744 | )
ASU 2016-09 share-based compensation |  |  | (5,388 | ) |  |  | (1,390 | ) |  |  | (1,061 | )
Other |  |  | (1,030 | ) |  |  | (2,494 | ) |  |  | (2,568 | )
Total income tax (benefit) expense |  | $ | (2,507 | ) |  | $ | 84,948 |  |  | $ | 80,813 |
| (1) | The U.S. federal statutory income tax rate for FY2018 is a blended rate of 28.06 percent due to the TCJA. The federal statutory rate for FY2017 and FY2016 was 35.0 percent.
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to deferred taxes are presented below (in thousands):
|  | June 30, |
|  | 2018 |  |  | 2017 |
Deferred tax assets: |  |  |  |  |  |  |  |
Deferred compensation and post-retirement obligations |  | $ | 27,842 |  |  | $ | 37,257 |
Reserves and accruals |  |  | 30,180 |  |  |  | 40,058 |
Stock-based compensation |  |  | 7,793 |  |  |  | 13,599 |
Deferred rent |  |  | 3,750 |  |  |  | 6,091 |
Other |  |  | — |  |  |  | 2,000 |
Total deferred tax assets |  |  | 69,565 |  |  |  | 99,005 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Goodwill and other intangible assets |  |  | (238,020 | ) |  |  | (337,849 | )
Unbilled revenue |  |  | (17,363 | ) |  |  | (20,913 | )
Prepaid expenses |  |  | (3,991 | ) |  |  | (4,554 | )
Interest rate swap |  |  | (3,701 | ) |  |  | (963 | )
Other |  |  | (7,370 | ) |  |  | (8,046 | )
Total deferred tax liabilities |  |  | (270,445 | ) |  |  | (372,325 | )
Net deferred tax liability |  | $ | (200,880 | ) |  | $ | (273,320 | )
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized benefits is shown in the table below (in thousands):
|  | Year ended June 30, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Beginning of year |  | $ | 1,639 |  |  | $ | 398 |  |  | $ | 6,220 |
Additions based on current year tax positions |  |  | 2,483 |  |  |  | 1,475 |  |  |  | 89 |
Lapse of statute of limitations |  |  | — |  |  |  | (234 | ) |  |  | (128 | )
Settlement with taxing authorities |  |  | — |  |  |  | — |  |  |  | (5,783 | )
End of year |  | $ | 4,122 |  |  | $ | 1,639 |  |  | $ | 398 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=109238393&loc=d3e36027-109320 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration