INCOME TAXES	3 Months Ended
Sep. 30, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	(14) INCOME TAXES The Company's income tax expense is attributable to the activities of the Company, PHSI and PSCI, all of which are subchapter C corporations subject to U.S. federal and state income taxes. Under the provisions of federal and state statutes, Premier LP is not subject to federal and state income taxes. For federal and state income tax purposes, income realized by Premier LP is taxable to its partners. For the three months ended September 30, 2016 and 2015, the Company recorded tax expense of $23.3 million and $19.0 million, respectively, which equates to an effective tax rate of 28.7% and 26.7%, respectively. The effective tax rate has increased from the prior year primarily attributable to the increase in the Company's ownership of Premier LP's taxable income. The Company's effective tax rate differs from income taxes recorded at the statutory rate primarily due to partnership income not subject to federal income taxes, state and local taxes and valuation allowances against deferred tax assets at PHSI. The Company had net deferred tax assets of $419.8 million and $422.8 million as of September 30, 2016 and June 30, 2016, respectively. The current period balance is comprised of $422.4 million in deferred tax assets at Premier, Inc. offset by $2.6 million in deferred tax liabilities at PHSI and PSCI that is included in long term other liabilities in the accompanying condensed consolidated balance sheet. The decrease of $3.0 million from June 30, 2016 is primarily attributable to the reductions in deferred tax assets of $9.3 million recorded in connection with adjusting the basis in assets related to the North Carolina state income tax rate reduction of 1%, effective for tax years 2017 and beyond, a valuation allowance recorded against deferred tax assets of $5.1 million at PHSI, $2.8 million attributable to deferred tax assets recorded in connection with the fair value of the FFF put and call rights, and $2.6 million recorded in the ordinary course of business. The decrease is offset by increases of $16.8 million in connection with the exchange of member owner Class B common units pursuant to the Exchange Agreement that occurred during the three months ended September 30, 2016. The Company has TRA liabilities of $284.2 million as of September 30, 2016, representing 85% of the tax savings payable to limited partners that the Company expects to receive in connection with the Section 754 election which results in adjustments to the tax basis of the assets of Premier LP upon member owner exchanges of Class B common units of Premier LP for Class A common stock of Premier, Inc. TRA liabilities increased by $4.5 million when compared to the $279.7 million recorded at June 30, 2016. The increase is attributable to a $10.2 million increase in connection with quarterly member owner exchanges on August 1, 2016, partially offset by a $5.7 million decrease in connection with revaluing the deferred tax assets and associated TRA liabilities associated as a result of the North Carolina state income tax rate reduction.

(14) INCOME TAXES

The Company's income tax expense is attributable to the activities of the Company, PHSI and PSCI, all of which are subchapter C corporations subject to U.S. federal and state income taxes. Under the provisions of federal and state statutes, Premier LP is not subject to federal and state income taxes. For federal and state income tax purposes, income realized by Premier LP is taxable to its partners.

For the three months ended September 30, 2016 and 2015, the Company recorded tax expense of $23.3 million and $19.0 million, respectively, which equates to an effective tax rate of 28.7% and 26.7%, respectively. The effective tax rate has increased from the prior year primarily attributable to the increase in the Company's ownership of Premier LP's taxable income. The Company's effective tax rate differs from income taxes recorded at the statutory rate primarily due to partnership income not subject to federal income taxes, state and local taxes and valuation allowances against deferred tax assets at PHSI.

The Company had net deferred tax assets of $419.8 million and $422.8 million as of September 30, 2016 and June 30, 2016, respectively. The current period balance is comprised of $422.4 million in deferred tax assets at Premier, Inc. offset by $2.6 million in deferred tax liabilities at PHSI and PSCI that is included in long term other liabilities in the accompanying condensed consolidated balance sheet. The decrease of $3.0 million from June 30, 2016 is primarily attributable to the reductions in deferred tax assets of $9.3 million recorded in connection with adjusting the basis in assets related to the North Carolina state income tax rate reduction of 1%, effective for tax years 2017 and beyond, a valuation allowance recorded against deferred tax assets of $5.1 million at PHSI, $2.8 million attributable to deferred tax assets recorded in connection with the fair value of the FFF put and call rights, and $2.6 million recorded in the ordinary course of business. The decrease is offset by increases of $16.8 million in connection with the exchange of member owner Class B common units pursuant to the Exchange Agreement that occurred during the three months ended September 30, 2016.

The Company has TRA liabilities of $284.2 million as of September 30, 2016, representing 85% of the tax savings payable to limited partners that the Company expects to receive in connection with the Section 754 election which results in adjustments to the tax basis of the assets of Premier LP upon member owner exchanges of Class B common units of Premier LP for Class A common stock of Premier, Inc. TRA liabilities increased by $4.5 million when compared to the $279.7 million recorded at June 30, 2016. The increase is attributable to a $10.2 million increase in connection with quarterly member owner exchanges on August 1, 2016, partially offset by a $5.7 million decrease in connection with revaluing the deferred tax assets and associated TRA liabilities associated as a result of the North Carolina state income tax rate reduction.