XML 66 R49.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2016
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,
(In thousands) |  | 2016 |  | 2015 |  | 2014
Current: |  |  |  |  |  |
Federal |  | $ | 214 |  |  | $ | (30 | ) |  | $ | 293 |
State |  | 103 |  |  | 309 |  |  | 275 |
Total current income tax expense |  | 317 |  |  | 279 |  |  | 568 |
Deferred: |  |  |  |  |  |
Federal |  | (66,648 | ) |  | 106 |  |  | 99 |
State |  | (13,666 | ) |  | 17 |  |  | 38 |
Total deferred income tax (benefit) expense |  | (80,314 | ) |  | 123 |  |  | 137 |
Income tax (benefit) expense |  | $ | (79,997 | ) |  | $ | 402 |  |  | $ | 705 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of income tax (benefit) expense to the federal statutory tax rate is as follows:
|  | June 30,
(In thousands) |  | 2016 |  | 2015 |  | 2014
Statutory tax rate |  | 35 | % |  | 34 | % |  | 34 | %
Income tax expense at statutory rate |  | $ | 3,472 |  |  | $ | 358 |  |  | $ | 4,365 |
State income tax expense, net of federal tax benefit |  | 557 |  |  | 260 |  |  | 749 |
Dividend income exclusion |  | (140 | ) |  | (54 | ) |  | — |
Valuation allowance |  | (83,230 | ) |  | (185 | ) |  | (4,292 | )
Change in tax rate |  | (1,061 | ) |  | — |  |  | — |
Retiree life insurance |  | 135 |  |  | — |  |  | — |
Change in contingency reserve (net) |  | — |  |  | — |  |  | (39 | )
Other (net) |  | 270 |  |  | 23 |  |  | (78 | )
Income tax (benefit) expense |  | $ | (79,997 | ) |  | $ | 402 |  |  | $ | 705 |
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,
(In thousands) |  | 2016 |  | 2015 |  | 2014
Deferred tax assets: |  |  |  |  |  |
Postretirement benefits |  | $ | 33,273 |  |  | $ | 31,100 |  |  | $ | 19,800 |
Accrued liabilities |  | 11,760 |  |  | 10,091 |  |  | 6,156 |
Net operating loss carryforwards |  | 38,196 |  |  | 41,544 |  |  | 40,275 |
Intangible assets |  | 71 |  |  | 594 |  |  | 1,126 |
Other |  | 6,881 |  |  | 6,794 |  |  | 7,253 |
Total deferred tax assets |  | 90,181 |  |  | 90,123 |  |  | 74,610 |
Deferred tax liabilities: |  |  |  |  |  |
Unrealized gain on investments |  | (609 | ) |  | (2,242 | ) |  | — |
Fixed assets |  | (5,370 | ) |  | (2,647 | ) |  | (1,902 | )
Other |  | (1,789 | ) |  | (1,943 | ) |  | (1,538 | )
Total deferred tax liabilities |  | (7,768 | ) |  | (6,832 | ) |  | (3,440 | )
Valuation allowance |  | (1,627 | ) |  | (84,857 | ) |  | (72,613 | )
Net deferred tax assets (liabilities) |  | $ | 80,786 |  |  | $ | (1,566 | ) |  | $ | (1,443 | )
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,
(In thousands) |  | 2016 |  | 2015 |  | 2014
Unrecognized tax benefits at beginning of year |  | $ | — |  |  | $ | — |  |  | $ | 3,211 |
Decreases in tax positions for prior years |  | — |  |  | — |  |  | (30 | )
Settlements |  | — |  |  | — |  |  | (3,181 | )
Unrecognized tax benefits at end of year |  | $ | — |  |  | $ | — |  |  | $ | — |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration