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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2024

Income Taxes

Schedule of income (loss) before income taxes

​	​	​	​	​	​	​	​	​	​
For the Year Ended June 30		2024			2023			2022
Domestic	​	$	(22,820)	​	$	14,776	​	$	27,695
Foreign	​		33,736	​		39,295	​		44,632
Income before income taxes	​	$	10,916	​	$	54,071	​	$	72,327

​

​

Components of the provision for income taxes were:

Schedule of components of the provision for income taxes

​

​	​	​	​	​	​	​	​	​	​
For the Year Ended June 30		2024			2023			2022
Current provision:		​			​			​
Federal	​	$	3,037	​	$	9,801	​	$	4,874
State and local	​		1,718	​		1,810	​		1,468
Foreign	​		15,740	​		12,750	​		17,613
Total current provision	​		20,495	​		24,361	​		23,955
Deferred provision (benefit):	​		​	​		​	​
Federal	​		(4,755)	​		(6,151)	​		(75)
State and local	​		(1,523)	​		(266)	​		251
Foreign	​		(4,468)	​		3,424	​		23
Change in foreign valuation allowances	​		(1,249)	​		97	​		(1,002)
Total deferred benefit	​		(11,995)	​		(2,896)	​		(803)
​	​	​	​	​	​	​	​	​	​
Provision for income taxes	​	$	8,500	​	$	21,465	​	$	23,152

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

​

​	​	​	​	​	​	​	​
For the Year Ended June 30		2024		2023		2022	​
U.S. federal statutory income tax rate		21.0	%	21.0	%	21.0	%
State and local taxes, net of federal benefit		(1.1)	​	2.0	​	2.0	​
Higher taxes on non-U.S. income		9.9	​	8.9	​	4.8	​
Changes in uncertain tax positions	​	30.7	​	5.1	​	4.4	​
Global Intangible Low-Taxed Income		18.3	​	3.3	​	0.3	​
Recognition of federal and foreign tax credits	​	(10.6)	​	(3.1)	​	(0.9)	​
Change in valuation allowance	​	(11.4)	​	0.2	​	(1.4)	​
Foreign derived intangible income	​	(3.8)	​	(3.7)	​	(2.1)	​
Non-U.S. withholding and related taxes, net, on planned repatriation	​	28.4	​	—	​	—	​
Impact of foreign tax credit regulations and related changes	​	(20.0)	​	1.9	​	—	​
Non-deductible operating expenses	​	11.3	​	0.9	​	0.8	​
Non-deductible acquisition costs	​	4.3	​	—	​	—	​
Other		0.9	​	3.2	​	3.1	​
Effective income tax rate		77.9	%	39.7	%	32.0	%

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

​

​	​	​	​	​	​	​
As of June 30		2024			2023
Deferred tax assets:	​	​	​	​	​	​
Employee-related accruals	​	$	6,620	​	$	5,461
Inventory	​		1,521	​		2,864
Environmental remediation	​		767	​		1,733
Net operating loss carry forwards–domestic	​		777	​		839
Net operating loss carry forwards–foreign	​		3,813	​		4,389
Operating lease liabilities	​	​	6,788	​	​	6,521
R&D cost capitalization	​	​	7,227	​	​	4,283
Unrealized foreign exchange	​	​	1,470	​	​	—
Carried foreign interest expense	​	​	4,518	​	​	—
Other	​	​	7,224	​		(1,311)
​	​		40,725	​		24,779
Valuation allowance	​		(1,288)	​		(2,598)
​	​		39,437	​		22,181
Deferred tax liabilities:	​		​	​		​
Property, plant and equipment and intangible assets	​	​	(5,282)	​	​	(6,286)
Operating lease ROU assets	​	​	(6,441)	​	​	(6,280)
Unrealized foreign exchange	​	​	—	​	​	(1,906)
Non-U.S. withholding and related taxes, net, on planned repatriation	​	​	(2,828)	​	​	—
Other	​		(6,182)	​		(712)
​	​		(20,733)	​		(15,184)
​	​	​	​	​	​	​
Net deferred tax asset	​	$	18,704	​	$	6,997

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

​

​	​	​	​	​	​	​
As of June 30		2024			2023
Other assets	​	$	19,371	​	$	8,711
Other liabilities	​		(667)	​		(1,714)
​	​	$	18,704	​	$	6,997

Schedule of the valuation allowance for deferred tax assets

​

​	​	​	​	​	​	​	​	​	​
As of June 30		2024			2023			2022
Balance at beginning of period	​	$	2,598	​	$	2,618	​	$	3,709
(Benefit) provision for income taxes	​	​	(1,310)	​		(20)	​		(1,091)
Balance at end of period	​	$	1,288	​	$	2,598	​	$	2,618

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

​

​	​	​	​	​	​	​	​	​	​
As of June 30		2024			2023			2022
Unrecognized tax benefits–beginning of period	​	$	9,449	​	$	7,832	​	$	5,311
Tax position changes–current period	​		2,066	​		2,181	​		5,333
Tax position changes–prior periods, including settlements with tax authorities	​		615	​		193	​		(1,175)
Lapse of statute of limitations	​		(58)	​		(194)	​		(1,071)
Effect of changes in exchange rates	​		(211)	​		(563)	​		(566)
Unrecognized tax benefits–end of period	​		11,861	​		9,449	​		7,832
Interest and penalties–end of period	​		1,689	​		981	​		427
Total liabilities related to uncertain tax positions	​	$	13,550	​	$	10,430	​	$	8,259

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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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