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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2023

Income Taxes

Schedule of income (loss) before income taxes

​

​	​	​	​	​	​	​	​	​	​
For the Year Ended June 30		2023			2022			2021
Domestic	​	$	14,776	​	$	27,695	​	$	12,684
Foreign	​		39,295	​		44,632	​		53,784
Income before income taxes	​	$	54,071	​	$	72,327	​	$	66,468

Schedule of components of the provision for income taxes

​

​	​	​	​	​	​	​	​	​	​
For the Year Ended June 30		2023			2022			2021
Current provision (benefit):		​			​			​
Federal	​	$	9,801	​	$	4,874	​	$	99
State and local	​		1,810	​		1,468	​		887
Foreign	​		12,750	​		17,613	​		13,280
Total current provision	​		24,361	​		23,955	​		14,266
Deferred provision (benefit):	​		​	​		​	​
Federal	​		(6,151)	​		(75)	​		291
State and local	​		(266)	​		251	​		(110)
Foreign	​		3,424	​		23	​		(2,663)
Change in valuation allowance–foreign	​		97	​		(1,002)	​		299
Total deferred provision (benefit)	​		(2,896)	​		(803)	​		(2,183)
​	​	​	​	​	​	​	​	​	​
Provision for income taxes	​	$	21,465	​	$	23,152	​	$	12,083

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

​

​	​	​	​	​	​	​	​
For the Year Ended June 30		2023		2022		2021	​
Federal income tax rate		21.0	%	21.0	%	21.0	%
State and local taxes, net of federal benefit		2.0	​	2.0	​	0.8	​
Foreign income tax rates		8.9	​	4.8	​	4.2	​
Changes in uncertain tax positions	​	5.1	​	4.4	​	(6.8)	​
Global Intangible Low-Taxed Income		3.3	​	0.3	​	1.3	​
Recognition of federal and foreign tax credits	​	(0.9)	​	(0.9)	​	(2.1)	​
Change in valuation allowance	​	0.2	​	(1.4)	​	0.5	​
Foreign derived intangible income	​	(3.7)	​	(2.1)	​	—	​
Foreign withholding taxes	​	2.8	​	0.1	​	—	​
Other		1.0	​	3.8	​	(0.7)	​
Effective tax rate		39.7	%	32.0	%	18.2	%

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

​

​	​	​	​	​	​	​
As of June 30		2023			2022
Deferred tax assets:	​	​	​	​	​	​
Employee-related accruals	​	$	5,461	​	$	6,879
Inventory	​		2,864	​		2,288
Environmental remediation	​		1,733	​		751
Net operating loss carry forwards–domestic	​		839	​		1,323
Net operating loss carry forwards–foreign	​		4,389	​		4,348
Operating lease liabilities	​	​	6,521	​	​	7,639
R&D cost capitalization	​	​	4,283	​	​	—
Other	​	​	(1,311)	​		(1,066)
​	​		24,779	​		22,162
Valuation allowance	​		(2,598)	​		(2,618)
​	​		22,181	​		19,544
Deferred tax liabilities:	​		​	​		​
Property, plant and equipment and intangible assets	​	​	(6,286)	​	​	(7,187)
Operating lease ROU assets	​	​	(6,280)	​	​	(7,489)
Unrealized foreign exchange	​	​	(1,906)	​	​	—
Other	​		(712)	​		(24)
​	​		(15,184)	​		(14,700)
​	​	​	​	​	​	​
Net deferred tax asset	​	$	6,997	​	$	4,844

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

​

​	​	​	​	​	​	​
As of June 30		2023			2022
Other assets	​	$	8,711	​	$	5,849
Other liabilities	​		(1,714)	​		(1,005)
​	​	$	6,997	​	$	4,844

Schedule of the valuation allowance for deferred tax assets

​

​	​	​	​	​	​	​	​	​	​
As of June 30		2023			2022			2021
Balance at beginning of period	​	$	2,618	​	$	3,709	​	$	3,403
(Benefit) provision for income taxes	​	​	(20)	​		(1,091)	​		306
Balance at end of period	​	$	2,598	​	$	2,618	​	$	3,709

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

​

​	​	​	​	​	​	​	​	​	​
As of June 30		2023			2022			2021
Unrecognized tax benefits–beginning of period	​	$	7,832	​	$	5,311	​	$	9,507
Tax position changes–current period	​		2,181	​		5,333	​		1,873
Tax position changes–prior periods, including settlements with tax authorities	​		193	​		(1,175)	​		(5,354)
Lapse of statute of limitations	​		(194)	​		(1,071)	​		(1,109)
Effect of changes in exchange rates	​		(563)	​		(566)	​		394
Unrecognized tax benefits–end of period	​		9,449	​		7,832	​		5,311
Interest and penalties–end of period	​		981	​		427	​		391
Total liabilities related to uncertain tax positions	​	$	10,430	​	$	8,259	​	$	5,702

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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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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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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