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Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2020
Income Tax Disclosure [Abstract] |
Schedule Of Taxes Based On Income | Taxes based on income for the years ended June 30 have been provided as follows:
| 2020 |  | 2019 |  | 2018
Currently payable: |  |  |  |  |
Federal | $ | 23,392 |  |  | $ | 30,220 |  |  | $ | 40,766 |
State and local | 6,808 |  |  | 8,070 |  |  | 7,355 |
Total current provision | 30,200 |  |  | 38,290 |  |  | 48,121 |
Deferred federal, state and local provision (benefit) | 11,894 |  |  | 6,703 |  |  | (9,232 | )
Total taxes based on income | $ | 42,094 |  |  | $ | 44,993 |  |  | $ | 38,889 |
Reconciliation Of The Effective Income Tax Rate | For the years ended June 30, our effective tax rate varied from the statutory federal income tax rate as a result of the following factors:
| 2020 |  | 2019 |  | 2018
Statutory rate | 21.0 | % |  | 21.0 | % |  | 28.1 | %
State and local income taxes | 3.1 |  |  | 3.5 |  |  | 3.0 |
Net windfall tax benefits - stock-based compensation | (0.8 | ) |  | (0.8 | ) |  | (0.4 | )
ESOP dividend deduction | (0.1 | ) |  | (0.1 | ) |  | (0.1 | )
One-time benefit on re-measurement of net deferred tax liability | — |  |  | — |  |  | (5.5 | )
Domestic manufacturing deduction for qualified income | — |  |  | — |  |  | (2.3 | )
Other | 0.3 |  |  | (0.6 | ) |  | (0.5 | )
Effective rate | 23.5 | % |  | 23.0 | % |  | 22.3 | %
Schedule Of Deferred Tax Assets And Liabilities | The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at June 30 were comprised of:
| 2020 |  | 2019
Deferred tax assets: |  |  |
Employee medical and other benefits | $ | 8,384 |  |  | $ | 7,809 |
Operating lease liabilities | 5,713 |  |  | — |
Inventories | 2,382 |  |  | 311 |
Receivables | 2,371 |  |  | 2,332 |
Other accrued liabilities | 1,938 |  |  | 2,069 |
Total deferred tax assets | 20,788 |  |  | 12,521 |
Deferred tax liabilities: |  |  |
Property, plant and equipment | (30,036 | ) |  | (16,993 | )
Goodwill | (11,390 | ) |  | (10,037 | )
Intangible assets | (7,848 | ) |  | (8,295 | )
Operating lease right-of-use assets | (5,333 | ) |  | — |
Other | (421 | ) |  | (78 | )
Total deferred tax liabilities | (55,028 | ) |  | (35,403 | )
Net deferred tax liability | $ | (34,240 | ) |  | $ | (22,882 | )
Net Cash Payments For Income Taxes | Net cash payments for income taxes for each of the years ended June 30 were as follows:
| 2020 |  | 2019 |  | 2018
Net cash payments for income taxes | $ | 30,958 |  |  | $ | 38,644 |  |  | $ | 46,198 |
Reconciliation Of Gross Tax Contingency Reserve | The following table sets forth changes in our total gross tax contingency reserve (including interest and penalties):
| 2020 |  | 2019
Balance, beginning of year | $ | 1,670 |  |  | $ | 1,298 |
Tax positions related to the current year: |  |  |
Additions | — |  |  | 87 |
Reductions | — |  |  | — |
Tax positions related to prior years: |  |  |
Additions | 51 |  |  | 694 |
Reductions | (25 | ) |  | (26 | )
Settlements | (728 | ) |  | (383 | )
Balance, end of year | $ | 968 |  |  | $ | 1,670 |
Net Tax-Related Interest And Penalties Recognized | For each of the years ended June 30, we recognized the change in the accrual for net tax-related interest and penalties as follows:
| 2020 |  | 2019
(Benefit) expense recognized for net tax-related interest and penalties | $ | (188 | ) |  | $ | 64 |
Accrued Interest And Penalties | We had accrued interest and penalties at June 30 as follows:
| 2020 |  | 2019
Accrued interest and penalties included in the gross tax contingency reserve | $ | 481 |  |  | $ | 669 |

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- 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
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- Definition 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. + References Reference 1: 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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