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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense (Benefit)

Income tax expense (benefit) consists of:

			Fiscal Year Ended June 30,
			2024						2023						2022
			(in thousands)
Current:
Federal			$	15,626					$	25,034					$	16,895
State			3,608						6,455						5,238
Foreign			5,578						4,507						3,896
Total current			24,812						35,996						26,029
Deferred:
Federal			(827)						(2,991)						3,429
State			(911)						(541)						129
Foreign			(293)						1,294						338
Total deferred			(2,031)						(2,238)						3,896
Provision for income taxes			$	22,781					$	33,758					$	29,925

Schedule of Reconciliation of U.S. Federal Income Tax Expense

A reconciliation is provided below of the U.S. Federal income tax expense for the fiscal years ended June 30, 2024, June 30, 2023 and June 30, 2022 with the applicable statutory rate of 21%.

			Fiscal Year Ended June 30,
			2024						2023						2022
			(in thousands)
U.S. statutory rate			21.0		%				21.0		%				21.0		%
U.S. Federal income tax at statutory rate			$	20,967					$	25,588					$	24,911
Increase (decrease) in income taxes due to:
State and local income taxes, net of Federal benefit			1,939						4,559						4,265
Tax credits			(1,794)						(909)						(796)
Valuation allowance			1,131						1,087						(200)
Effect of varying statutory rates in foreign operations, net			2,109						2,751						1,145
Stock compensation			(76)						37						(121)
Disallowed interest			—						—						—
Earnings from foreign subsidiaries			776						957						928
Losses on dispositions			(2,816)						—						—
Global intangible low taxed income tax			(832)						1,551						630
Nontaxable income			(927)						(3,189)						(2,050)
Nondeductible compensation(a)			1,412						1,240						1,166
Notional interest deduction on net equity			—						(733)						(780)
Other(a)			892						819						827
Provision for income taxes			$	22,781					$	33,758					$	29,925

(a) Certain amounts in the prior year have been reclassified to the current year presentation in presented table.

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities are presented below:

			June 30,
			2024						2023
			(in thousands)
Deferred tax assets derived from:
Allowance for accounts receivable			$	7,787					$	5,811
Inventories			2,927						3,326
Nondeductible accrued expenses			7,538						7,561
Net operating loss carryforwards			243						596
Tax credits			8,771						8,430
Deferred compensation			7,706						7,173
Stock compensation			4,490						4,718
Capital loss carryforwards			12,306						7,348
Timing of amortization deduction from intangible assets			6,680						6,170
Total deferred tax assets			58,448						51,133
Valuation allowance			(19,594)						(14,397)
Total deferred tax assets, net of allowance			38,854						36,736
Deferred tax liabilities derived from:
Timing of depreciation and other deductions from building and equipment			(724)						(1,533)
Timing of amortization deduction from goodwill			(13,716)						(10,886)
Timing of amortization deduction from intangible assets			(4,512)						(10,369)
Total deferred tax liabilities			(18,952)						(22,788)
Net deferred tax assets			$	19,902					$	13,948

Schedule of Components of Pretax Earnings

The components of pretax earnings are as follows:

			Fiscal Year Ended June 30,
			2024						2023						2022
			(in thousands)
Domestic			$	78,653					$	94,994					$	93,586
Foreign			21,188						26,856						25,037
Worldwide pretax earnings			$	99,841					$	121,850					$	118,623

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

			June 30,
			2024						2023						2022
			(in thousands)
Beginning Balance			$	1,172					$	1,065					$	1,121
Additions based on tax positions related to the current year			89						123						139
Reduction for tax positions of prior years			(120)						(16)						(195)
Ending Balance			$	1,141					$	1,172					$	1,065

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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 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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