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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2020

Income Taxes

Schedule of income (loss) before income taxes

For the Year Ended June 30		2020			2019			2018
Domestic		$	(3,142)		$	2,331		$	19,819
Foreign			58,654			69,174			68,251
Income before income taxes		$	55,512		$	71,505		$	88,070

Schedule of components of the provision for income taxes

For the Year Ended June 30		2020			2019			2018
Current provision (benefit):
Federal		$	(1,271)		$	(459)		$	81
State and local			401			102			1,744
Foreign			14,705			16,603			15,268
Total current provision			13,835			16,246			17,093
Deferred provision (benefit):
Federal			5,226			858			2,746
State and local			696			432			2,156
Foreign			218			(691)			769
Change in valuation allowance–foreign			1,985			(53)			423
Total deferred provision (benefit)			8,125			546			6,094
Provision for income taxes		$	21,960		$	16,792		$	23,187

Schedule of reconciliations of the Federal statutory rate to the Company's effective tax rate

For the Year Ended June 30		2020		2019		2018
Federal income tax rate		21.0	%	21.0	%	28.1	%
State and local taxes, net of federal benefit		1.7		0.6		1.5
Foreign income tax rates		3.6		4.1		(4.8)
Global Intangible Low-Taxed Income		6.2		0.8		—
Changes in uncertain tax positions		5.2		(1.0)		1.1
Increase in valuation allowance		3.6		—		—
Recognition of federal and foreign tax credits		(0.9)		(2.5)		(0.7)
Exercise of employee stock options		—		(0.4)		(4.3)
Mandatory toll charge from Tax Act		—		(0.5)		0.5
Reduction of deferred tax assets		—		—		3.9
Other		(0.8)		1.4		1.0
Effective tax rate		39.6	%	23.5	%	26.3	%

Schedule of the tax effects of significant temporary differences that comprise deferred tax assets and liabilities

As of June 30		2020			2019
Deferred tax assets:
Employee related accruals		$	5,703		$	5,735
Inventory			726			4,766
Environmental remediation			974			1,128
Net operating loss carry forwards–domestic			1,618			902
Net operating loss carry forwards–foreign			5,221			3,703
Operating lease liabilities			5,732			—
Other			6,340			6,302
			26,314			22,536
Valuation allowance			(3,403)			(808)
			22,911			21,728
Deferred tax liabilities:
Property, plant and equipment and intangible assets			(6,108)			(6,071)
Operating lease ROU assets			(5,657)			—
Other			(921)			(772)
			(12,686)			(6,843)
Net deferred tax asset		$	10,225		$	14,885

Schedule of deferred taxes included in the line items of the consolidated balance sheets

As of June 30		2020			2019
Other assets		$	11,430		$	16,770
Other liabilities			(1,205)			(1,885)
		$	10,225		$	14,885

Schedule of the valuation allowance for deferred tax assets

As of June 30		2020			2019			2018
Balance at beginning of period		$	808		$	861		$	438
Provision for income taxes			2,595			(53)			423
Balance at end of period		$	3,403		$	808		$	861

Schedule of the reconciliation of the beginning and ending amount of unrecognized tax benefits

As of June 30		2020			2019			2018
Unrecognized  tax benefits–beginning  of period		$	6,343		$	7,000		$	6,553
Tax position changes–current period			2,850			528			1,749
Tax position changes–prior  periods, net of settlements with tax authorities			108			(317)			(994)
Lapse of statute of limitations			—			(1,053)			—
Translation			206			185			(308)
Unrecognized tax benefits–end of period			9,507			6,343			7,000
Interest and penalties–end of period			969			750			633
Total liabilities related to uncertain  tax positions		$	10,475		$	7,093		$	7,633

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