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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2013

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The current and deferred components of the provision for income taxes consist of the following:

		June 30,
		2013				2012				2011
						As Restated				As Restated
		(In thousands)
Current:
Federal		$	(24	)		$	(385	)		$	(4	)
State		191				115				323
Total current income tax expense (benefit)		167				(270		)		319
Deferred:
Federal		(819		)		(63		)		(11,373		)
State		(173		)		(14		)		(2,342		)
Total deferred income tax benefit		(992		)		(77		)		(13,715		)
Income tax benefit		$	(825	)		$	(347	)		$	(13,396	)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of income tax benefit to the federal statutory tax rate is as follows:

		June 30,
		2013				2012				2011
						As Restated				As Restated
Statutory tax rate		34%				34%				34%
		(In thousands)
Income tax benefit at statutory rate		$	(3,158	)		$	(9,154	)		$	(22,246	)
State income tax (net of federal tax benefit)		(223		)		(1,023		)		(2,874		)
Dividend income exclusion		—				(85		)		(532		)
Valuation allowance		3,074				10,588				13,188
Change in contingency reserve (net)		(7		)		(561		)		(1,308		)
Research tax credit (net)		—				(15		)		(16		)
Other (net)		(511		)		(97		)		392
Income tax benefit		$	(825	)		$	(347	)		$	(13,396	)

Schedule of Deferred Tax Assets and Liabilities

The primary components of the temporary differences which give rise to the Company’s net deferred tax liabilities are as follows:

		June 30,
		2013				2012				2011
						As Restated				As Restated
		(In thousands)
Deferred tax assets:
Postretirement benefits		$	26,014			$	27,568			$	18,260
Accrued liabilities		4,477				3,958				4,138
Capital loss carryforward		1,105				2,865				2,945
Net operating loss carryforward		44,607				44,736				36,328
Intangible assets		694				919				—
Other		7,840				3,080				5,458
Total deferred tax assets		84,737				83,126				67,129
Deferred tax liabilities:
Fixed assets		(2,641		)		(4,117		)		(7,881		)
Intangible assets		—				—				(1,032		)
Other		(882		)		(794		)		(814		)
Total deferred tax liabilities		(3,523		)		(4,911		)		(9,727		)
Valuation allowance		(82,522		)		(79,448		)		(58,712		)
Net deferred tax liability		$	(1,308	)		$	(1,233	)		$	(1,310	)

Summary of Income Tax Contingencies

A tabular reconciliation of the total amounts (in absolute values) of unrecognized tax benefits is as follows:

		Year Ended June 30,
		2013				2012				2011
						As Restated				As Restated
		(In thousands)
Unrecognized tax benefits at beginning of year		$	3,211			$	3,902			$	5,218
Increases in tax positions for prior years		—				—				—
(Decreases) increases in tax positions for current year		—				—				(1,316		)
Settlements		—				(691		)		—
Lapse in statute of limitations		—				—				—
Unrecognized tax benefits at end of year		$	3,211			$	3,211			$	3,902

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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.

+ References

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-SubTopic 10

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-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319



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-Name FASB Interpretation (FIN)

-Number 48

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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