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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2021

Income Taxes

Schedule of income (loss) before income taxes

​

​	​	​	​	​	​	​	​	​	​
For the Year Ended June 30		2021			2020			2019
Domestic	​	$	12,684	​	$	(3,142)	​	$	2,331
Foreign	​		53,784	​		58,654	​		69,174
Income before income taxes	​	$	66,468	​	$	55,512	​	$	71,505

Schedule of components of the provision for income taxes

​

​	​	​	​	​	​	​	​	​	​
For the Year Ended June 30		2021			2020			2019
Current provision (benefit):		​			​			​
Federal	​	$	99	​	$	(1,271)	​	$	(459)
State and local	​		887	​		401	​		102
Foreign	​		13,280	​		14,705	​		16,603
Total current provision	​		14,266	​		13,835	​		16,246
Deferred provision (benefit):	​		​	​			​
Federal	​		291	​		5,226	​		858
State and local	​		(110)	​		696	​		432
Foreign	​		(2,663)	​		218	​		(691)
Change in valuation allowance–foreign	​		299	​		1,985	​		(53)
Total deferred provision (benefit)	​		(2,183)	​		8,125	​		546
​	​	​	​	​	​	​	​	​	​
Provision for income taxes	​	$	12,083	​	$	21,960	​	$	16,792

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

​

​	​	​	​	​	​	​	​
For the Year Ended June 30		2021		2020		2019	​
Federal income tax rate		21.0	%	21.0	%	21.0	%
State and local taxes, net of federal benefit		0.8	​	1.7	​	0.6	​
Foreign income tax rates		4.2	​	3.6	​	4.1	​
Changes in uncertain tax positions	​	(6.8)	​	5.2	​	(1.0)	​
Global Intangible Low-Taxed Income		1.3	​	6.2	​	0.8	​
Recognition of federal and foreign tax credits	​	(2.1)	​	(0.9)	​	(2.5)	​
Change in valuation allowance	​	0.5	​	3.6	​	—	​
Other		(0.7)	​	(0.8)	​	0.5	​
Effective tax rate		18.2	%	39.6	%	23.5	%

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

​

​	​	​	​	​	​	​
As of June 30		2021			2020
Deferred tax assets:	​	​	​	​	​	​
Employee related accruals	​	$	6,337	​	$	5,703
Inventory	​		2,094	​		726
Environmental remediation	​		765	​		974
Net operating loss carry forwards–domestic	​		1,522	​		1,618
Net operating loss carry forwards–foreign	​		5,517	​		5,221
Operating lease liabilities	​	​	8,312	​	​	5,732
Other	​	​	4,672	​		6,340
​	​		29,219	​		26,314
Valuation allowance	​		(3,709)	​		(3,403)
​	​		25,510	​		22,911
Deferred tax liabilities:	​		​	​		​
Property, plant and equipment and intangible assets	​	​	(7,550)	​	​	(6,108)
Operating lease ROU assets	​	​	(8,251)	​	​	(5,657)
Other	​		(793)	​		(921)
​	​		(16,594)	​		(12,686)
​	​	​	​	​	​	​
Net deferred tax asset	​	$	8,916	​	$	10,225

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

​

​	​	​	​	​	​	​
As of June 30		2021			2020
Other assets	​	$	9,861	​	$	11,430
Other liabilities	​		(945)	​		(1,205)
​	​	$	8,916	​	$	10,225

Schedule of the valuation allowance for deferred tax assets

​

​	​	​	​	​	​	​	​	​	​
​		2021			2020			2019
Balance at beginning of period	​	$	3,403	​	$	808	​	$	861
Provision for income taxes	​	​	306	​		2,595	​		(53)
Balance at end of period	​	$	3,709	​	$	3,403	​	$	808

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

​

​	​	​	​	​	​	​	​	​	​
As of June 30		2021			2020			2019
Unrecognized tax benefits–beginning of period	​	$	9,507	​	$	6,343	​	$	7,000
Tax position changes–current period	​		1,873	​		2,850	​		528
Tax position changes–prior periods, including settlements with tax authorities	​		(5,354)	​		108	​		(317)
Lapse of statute of limitations	​		(1,109)	​		—	​		(1,053)
Translation	​		394	​		206	​		185
Unrecognized tax benefits–end of period	​		5,311	​		9,507	​		6,343
Interest and penalties–end of period	​		391	​		969	​		750
Total liabilities related to uncertain tax positions	​	$	5,702	​	$	10,476	​	$	7,093

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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 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 of the change in unrecognized tax benefits.

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