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INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Income before Income Tax

The components of (loss) income from continuing operations before income taxes are as follows (in thousands):

		For the Year Ended June 30,
		2016			2015			2014
U.S.		$	(131,615)		$	33,693		$	58,539
Foreign			114,317			119,967			120,828
Total		$	(17,298)		$	153,660		$	179,367

Income Tax Provisions (Benefits)

The income tax (benefits) provisions related to the above results are as follows (in thousands):

		For the Year Ended June 30,
		2016			2015			2014
Income Tax (Benefit) Provision:
Current Tax Provision
U.S. Federal		$	20,226		$	10,146		$	32,660
State and Local			4,295			2,756			5,133
Foreign			2,685			2,602			1,240
Total Current			27,206			15,504			39,033
Deferred Tax (Benefit) Provision:
U.S. Federal			(40,457)			(45)			(9,545)
State and Local			(5,441)			(486)			(4,447)
Foreign			4,150			3,564			2,658
Total Deferred			(41,748)			3,033			(11,334)
Income Tax (Benefit) Provision		$	(14,542)		$	18,537		$	27,699

Income Tax Provisions Computed using Statutory U.S. Federal Rate

The income tax (benefit) provisions differ from those that would be computed using the statutory U.S. federal rate as a result of the following items (in thousands):

		For the Year Ended June 30,
		2016					2015					2014
Income Tax at Statutory Rate		$	(6,054)		35.0	%	$	53,787		35.0	%	$	62,778		35.0	%
Lower Rates on Foreign Operations			(33,213)		192.0	%		(36,428)		(23.7)	%		(36,675)		(20.4)	%
State Income Taxes			(1,012)		5.9	%		2,320		1.5	%		3,405		1.9	%
Nondeductible Tax Items			2,080		(12.0)	%		953		0.6	%		(1,037)		(0.6)	%
Nondeductible Goodwill			23,957		(138.5)	%		-		0.0	%		-		0.0	%
Other			(300)		1.7	%		(2,095)		(1.3)	%		(772)		(0.5)	%
Income Tax (Benefit) Provision		$	(14,542)		84.1	%	$	18,537		12.1	%	$	27,699		15.4	%

Deferred Tax Assets (Liabilities)

Deferred income tax assets (liabilities) result primarily from temporary differences in the recognition of various expenses for tax and financial statement purposes, and from the recognition of the tax benefits of net operating loss carryforwards. These assets and liabilities are composed of the following (in thousands):

		For the Year Ended June 30,
		2016			2015			2014
Loss and Credit Carryforwards, Net		$	24,213		$	21,544		$	13,371
Employee Benefits			17,820			17,852			21,853
Stock-Based Payments			21,239			17,136			16,606
Deferred Rent			22,135			24,102			22,145
Receivable Reserve			20,158			20,043			23,036
Restructuring Reserve			18,820			8,903			8,618
Other Reserves			3,978			3,519			3,068
Less: Valuation Allowance			(8,624)			(10,552)			(9,002)
Gross Deferred Tax Assets			119,739			102,547			99,695
Depreciation			(24,217)			(25,860)			(34,398)
Amortization of Intangible Assets			(72,850)			(91,321)			(73,539)
Gross Deferred Tax Liability			(97,067)			(117,181)			(107,937)
Net Deferred Taxes		$	22,672		$	(14,634)		$	(8,242)

Changes in Unrecognized Tax Benefits

The changes in our unrecognized tax benefits were (in millions):

		For the Year Ended June 30,
		2016			2015			2014
Beginning Balance, July 1		$	8.5		$	9.1		$	9.0
Increases from Positions Taken During Prior Periods			0.3			3.2			0.6
Decreases from Positions Taken During Prior Periods			(1.7)			(4.4)			(1.3)
Increases from Positions Taken During the Current Period			0.4			0.6			0.8
Ending Balance, June 30		$	7.5		$	8.5		$	9.1

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