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Income Taxes
3 Months Ended
Sep. 30, 2019
Income Tax Disclosure [Abstract]  
Income Taxes

15.

Income Taxes

The Company is subject to income taxes in the U.S. and various state and foreign jurisdictions. Tax statutes and regulations within each jurisdiction are subject to interpretation and require the application of significant judgment.  The Company is currently under examination by the Internal Revenue Service for the year 2015, two state jurisdictions for the years 2011 through 2017 and one foreign jurisdiction for the years 2011 through 2015.  The Company does not expect resolution of these examinations to have a material impact on its results of operations, financial condition or cash flows.

The Company’s total liability for unrecognized tax benefits as of September 30, 2019 and June 30, 2019 was $1.7 million and $1.5 million, respectively. The $1.7 million unrecognized tax benefit at September 30, 2019, if recognized, would impact the Company’s effective tax rate.

For the three months ended September 30, 2019, the effective income tax rate was 18.4 percent compared with 13.1 percent for the same period last year.  The Company’s effective income tax rate increased primarily due to the timing of excess tax benefits under ASU 2016-09, Stock Compensation.  For both comparative reporting periods, the Company’s effective tax rate was impacted by excess tax benefits under ASU 2016-09, Stock Compensation, and the change in value of assets invested in COLI policies. If gains or losses on the COLI investments throughout the rest of the current fiscal year vary from our estimates, our FY2020 effective tax rate will fluctuate in future quarters for the year ending June 30, 2020.