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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2018

Income Tax Disclosure [Abstract]

Components of income before income taxes

The components of income before income taxes are as follows:

Year Ended June 30,	2018				2017				2016
U.S.	$	186,874			$	154,472			$	139,960
Foreign	17,844				12,494				(60,982		)
Income before income taxes	$	204,718			$	166,966			$	78,978

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision (benefit) for income taxes consists of:

Year Ended June 30,	2018				2017				2016
Current:
Federal	$	48,131			$	26,456			$	45,226
State and local	8,038				4,692				6,349
Foreign	5,309				4,760				4,407
Total current	61,478				35,908				55,982
Deferred:
Federal	5,955				852				397
State and local	(586		)		535				(30		)
Foreign	(3,754		)		(4,239		)		(6,948		)
Total deferred	1,615				(2,852		)		(6,581		)
Total	$	63,093			$	33,056			$	49,401

Reconciliations of federal statutory income tax rate and Company's effective income tax rate

The following reconciles the U.S. federal statutory income tax rate to the Company’s effective income tax rate:

Year Ended June 30,	2018			2017			2016
Statutory income tax rate	28.1	%		35.0	%		35.0	%
Effects of:
State and local taxes	3.1			2.8			5.2
U.S. federal tax reform	3.1			—			—
Worthless stock deduction	—			(13.9	)		—
Stock compensation	(0.4	)		(1.4	)		—
Goodwill impairment	—			—			27.1
Impact of foreign operations	(1.3	)		(2.3	)		(3.0	)
Deductible dividend	(0.3	)		(0.4	)		(0.9	)
Valuation allowance	(0.9	)		0.3			0.5
Other, net	(0.6	)		(0.3	)		(1.3	)
Effective income tax rate	30.8	%		19.8	%		62.6	%

Components of the Company's net deferred tax assets

Significant components of the Company’s deferred tax assets and liabilities are as follows:

June 30,	2018				2017
Deferred tax assets:
Compensation liabilities not currently deductible	$	19,334			$	26,873
Other expenses and reserves not currently deductible	13,169				11,601
Goodwill and intangibles	3,197				5,661
Foreign tax credit (expiring in years 2025-2026)	413				709
Net operating loss carryforwards (expiring in years 2023-2038)	11,315				5,729
Other	199				119
Total deferred tax assets	47,627				50,692
Less: Valuation allowance	(38		)		(1,831		)
Deferred tax assets, net of valuation allowance	47,589				48,861
Deferred tax liabilities:
Inventories	(8,196		)		(7,447		)
Goodwill and intangibles	(86,176		)		(30,482		)
Depreciation and differences in property bases	(9,294		)		(10,122		)
Total deferred tax liabilities	(103,666		)		(48,051		)
Net deferred tax (liabilities) assets	$	(56,077	)		$	810
Net deferred tax (liabilities) assets are classified as follows:
Other assets	$	2,103			$	8,985
Other liabilities	(58,180		)		(8,175		)
Net deferred tax (liabilities) assets	$	(56,077	)		$	810

Reconciliation of the Company's total gross unrecognized income tax benefits

The Company and its subsidiaries file income tax returns in U.S. federal, various state, local and foreign jurisdictions. The following table sets forth the changes in the amount of unrecognized tax benefits for the years ended June 30, 2018, 2017 and 2016:

Year Ended June 30,	2018				2017				2016
Unrecognized Income Tax Benefits at beginning of the year	$	3,533			$	2,915			$	2,604
Current year tax positions	143				574				539
Prior year tax positions	636				259				—
Expirations of statutes of limitations	(324		)		(189		)		(132		)
Settlements	—				(26		)		(96		)
Unrecognized Income Tax Benefits at end of year	$	3,988			$	3,533			$	2,915

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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.

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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.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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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.

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