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Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2015
Income Tax Disclosure [Abstract] |
Income Before Income Taxes | ncome before income taxes consisted of the following for the years ended June 30:
(in thousands) | 2015 |  |  | 2014 |  |  | 2013 |
(Loss) income before income taxes: |  |  |  |  |
United States | $ | (323,299 | ) |  | $ | 59,160 |  |  | $ | 87,499 |
International | (64,316 | ) |  | 169,649 |  |  | 179,110 |
Total (loss) income before income taxes | $ | (387,615 | ) |  | $ | 228,809 |  |  | $ | 266,609 |
Current income taxes: |  |  |  |  |
Federal | $ | (9,328 | ) |  | $ | 15,108 |  |  | $ | 10,645 |
State | 816 |  |  | 896 |  |  | 3,441 |
International | 40,433 |  |  | 27,488 |  |  | 45,375 |
Total current income taxes | 31,921 |  |  | 43,492 |  |  | 59,461 |
Deferred income taxes: |  |  |  |  |
Federal | $ | (38,943 | ) |  | $ | 10,157 |  |  | $ | 12,951 |
State | (8,680 | ) |  | (62 | ) |  | 2,433 |
International | (952 | ) |  | 13,024 |  |  | (15,152 | )
Total deferred income taxes: | (48,575 | ) |  | 23,119 |  |  | 232 |
(Benefit) provision for income taxes | $ | (16,654 | ) |  | $ | 66,611 |  |  | $ | 59,693 |
Effective tax rate | 4.3 | % |  | 29.1 | % |  | 22.4 | %
Reconciliation of Income Taxes and the Provision for Income Taxes | The reconciliation of income taxes computed using the statutory U.S. income tax rate and the provision for income taxes was as follows for the years ended June 30:
(in thousands) | 2015 |  |  | 2014 |  |  | 2013 |
Income taxes at U.S. statutory rate | $ | (135,665 | ) |  | $ | 80,083 |  |  | $ | 93,313 |
State income taxes, net of federal tax benefits | (1,748 | ) |  | 1,593 |  |  | 4,051 |
U.S. income taxes provided on international income | 3,679 |  |  | 2,423 |  |  | 3,067 |
Combined tax effects of international income | (21,560 | ) |  | (22,580 | ) |  | (30,692 | )
Impact of goodwill impairment charges | 134,657 |  |  | — |  |  | — |
Change in valuation allowance and other uncertain tax positions | 1,530 |  |  | (2,603 | ) |  | (4,550 | )
Impact of domestic production activities deduction | — |  |  | (942 | ) |  | (3,546 | )
Research and development credit | (3,087 | ) |  | (1,385 | ) |  | (4,141 | )
Change in permanent reinvestment assertion | 2,945 |  |  | 7,170 |  |  | — |
Other | 2,595 |  |  | 2,852 |  |  | 2,191 |
(Benefit) provision for income taxes | $ | (16,654 | ) |  | $ | 66,611 |  |  | $ | 59,693 |
Components of Net Deferred Tax Liabilities and Assets | The components of net deferred tax assets and (liabilities) were as follows at June 30:
(in thousands) | 2015 |  |  | 2014 |
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 47,289 |  |  | $ | 52,812 |
Inventory valuation and reserves | 18,023 |  |  | 20,612 |
Pension benefits | 23,559 |  |  | 2,427 |
Other postretirement benefits | 7,359 |  |  | 8,432 |
Accrued employee benefits | 23,674 |  |  | 29,034 |
Other accrued liabilities | 18,210 |  |  | 12,981 |
Hedging activities | 4,354 |  |  | 14,996 |
Tax credits and other carryforwards | 13,815 |  |  | 2,082 |
Other | 12,028 |  |  | 14,617 |
Total | 168,311 |  |  | 157,993 |
Valuation allowance | (16,771 | ) |  | (17,860 | )
Total deferred tax assets | $ | 151,540 |  |  | $ | 140,133 |
Deferred tax liabilities: |  |  |
Tax depreciation in excess of book | $ | 102,480 |  |  | $ | 107,171 |
Intangible assets | 18,688 |  |  | 70,957 |
Total deferred tax liabilities | $ | 121,168 |  |  | $ | 178,128 |
Total net deferred tax assets (liabilities) | $ | 30,372 |  |  | $ | (37,995 | )
Reconciliation of Unrecognized Tax Benefits Excluding Interest | A reconciliation of the beginning and ending amount of unrecognized tax benefits (excluding interest) is as follows as of June 30:
(in thousands) |  | 2015 |  |  | 2014 |  |  | 2013 |
Balance at beginning of year |  | $ | 20,366 |  |  | $ | 26,798 |  |  | $ | 7,298 |
Increases for tax positions of prior years |  | — |  |  | 1,461 |  |  | — |
Decreases for tax positions of prior years |  | (3,188 | ) |  | (6,982 | ) |  | — |
Increases for tax positions related to the current year |  | — |  |  | 116 |  |  | 23,231 |
Decreases related to settlement with taxing authority |  | (348 | ) |  | (2,161 | ) |  | (3,813 | )
Decreases related to lapse of statute of limitations |  | (398 | ) |  | — |  |  | — |
Foreign currency translation |  | (1,813 | ) |  | 1,134 |  |  | 82 |
Balance at end of year |  | $ | 14,619 |  |  | $ | 20,366 |  |  | $ | 26,798 |

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