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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Summary of Components of Income Before Taxes and Equity in Earnings of Equity-Method Investments

The components of income (loss) before income taxes and equity in earnings of equity-method investees were as follows:

	Fiscal Year Ended June 30,
	2016				2015 (Revised)				2014 (Revised)
Domestic	$	158,025			$	170,884			$	154,773
Foreign	(39,617		)		41,985				42,387
Total	$	118,408			$	212,869			$	197,160

Summary of the Provision for Income Taxes

The provision (benefit) for income taxes consisted of the following:

	Fiscal Year Ended June 30,
	2016				2015 (Revised)				2014 (Revised)
Current:
Federal	$	21,304			$	32,910			$	47,660
State and local	1,798				8,311				7,640
Foreign	14,737				9,981				16,920
	37,839				51,202				72,220
Deferred:
Federal	30,711				(912		)		2,241
State and local	5,017				(1,069		)		(186		)
Foreign	(2,635		)		(686		)		(4,667		)
	33,093				(2,667		)		(2,612		)
Total	$	70,932			$	48,535			$	69,608

Reconciliation of Expected Income Taxes to Actual

The reconciliation of the U.S. Federal statutory rate to our effective rate on income before provision for income taxes was as follows:

	Fiscal Year Ended June 30,
	2016				%				2015 (Revised)					%			2014 (Revised)				%
Expected United States federal income tax at statutory rate	$	41,443			35.0	%			$	74,504				35.0	%		$	69,006			35.0	%
State income taxes, net of federal benefit	5,447				4.6	%			4,795					2.2	%		4,862				2.5	%
Domestic manufacturing deduction	(1,233		)		(1.0	)%			(1,210		)			(0.6	)%		(2,642		)		(1.3	)%
Foreign income at different rates	(2,861		)		(2.4	)%			(9,515		)			(4.5	)%		(295		)		(0.1	)%
Goodwill impairment	23,172				19.6	%	—		—			—		—	%		—				—	%
Change in Valuation Allowance	5,067				4.3	%			963					0.5	%		—				—	%
Corporate tax reorganization	(4,173		)		(3.5	)%			(20,670		)			(9.7	)%		—				—	%
Unrealized foreign exchange losses	7,056				6.0	%			—					—	%		—				—	%
Non-taxable gains on acquisition of pre-existing ownership interests in HPPC and Empire	—				—	%			(2,793		)			(1.3	)%		—				—	%
Reduction of deferred tax liabilities resulting from change in United Kingdom tax rate	(4,942		)		(4.2	)%			—					—	%		(3,739		)		(1.9	)%
Other	1,956				1.5	%			2,461					1.2	%		2,416				1.1	%
Provision for income taxes	$	70,932			59.9	%			$	48,535				22.8	%		$	69,608			35.3	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consisted of the following:

	June 30, 2016				June 30, 2015 (Revised)
Current deferred tax assets(1):
Basis difference on inventory	$	—			$	13,730
Reserves not currently deductible	—				22,804
Other	—				1,972
Current deferred tax assets(1)	$	—			$	38,506
Noncurrent deferred tax assets/(liabilities):
Basis difference on inventory	$	11,232			$	—
Reserves not currently deductible	17,652				—
Basis difference on intangible assets	(145,673		)		(154,009		)
Basis difference on property and equipment	(25,933		)		(23,415		)
Other comprehensive income	(4,623		)		(1,217		)
Net operating loss and tax credit carryforwards	25,340				28,875
Stock based compensation	4,632				6,828
Other	1,176				2,723
Valuation allowances	(15,310		)		(10,926		)
Noncurrent deferred tax liabilities, net	$	(131,507	)		$	(151,141	)
Total net deferred tax liabilities	$	(131,507	)		$	(112,635	)

(1) Due to the Company’s adoption of ASU 2015-17, all deferred tax assets and liabilities are classified as noncurrent as of June 30, 2016. See Note 3, Summary of Significant Accounting Policies and Practices, for details.

Summary of Changes in Valuation Allowances

The changes in valuation allowances against deferred income tax assets were as follows:

	Fiscal Year Ended June 30,
	2016				2015 (Revised)
Balance at beginning of year	$	10,926			$	10,952
Additions charged to income tax expense	7,484				963
Reductions credited to income tax expense	(2,417		)		—
Currency translation adjustments	(683		)		(989		)
Balance at end of year	$	15,310			$	10,926

Schedule of Unrecognized Tax Benefits, Including Interest and Penalties Activity

Unrecognized tax benefits activity, including interest and penalties, is summarized below:

	Fiscal Year Ended June 30,
	2016				2015 (Revised)				2014 (Revised)
Balance at beginning of year	$	10,759			$	11,058			$	2,507
Additions based on tax positions related to the current year	4,276				1,089				5,946
Additions based on tax positions related to prior years	1,404				202				3,511
Reductions due to lapse in statute of limitations and settlements	(420		)		(1,590		)		(906		)
Balance at end of year	$	16,019			$	10,759			$	11,058

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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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