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Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2021
Income Tax Disclosure [Abstract] |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of income tax expense to the federal statutory tax rate is as follows:
|  | For the Years Ended June 30,
(In thousands) |  | 2021 |  | 2020 |  | 2019
Statutory tax rate |  | 21 | % |  | 21 | % |  | 21 | %
Income tax (benefit) expense at statutory rate |  | $ | (5,892) |  |  | $ | (7,829) |  |  | $ | (7,032) |
State income tax (benefit) expense, net of federal tax benefit |  | (736) |  |  | (1,523) |  |  | (1,295) |
Valuation allowance |  | 4,504 |  |  | 9,153 |  |  | 50,123 |
Change in tax rate |  | 1,055 |  |  | 233 |  |  | 124 |
Post retirement medical plan and other offset in OCI |  | 13,738 |  |  | — |  |  | — |
Other (net) |  | 926 |  |  | (229) |  |  | (1,809) |
Income tax expense |  | $ | 13,595 |  |  | $ | (195) |  |  | $ | 40,111 |
Schedule of Deferred Tax Assets and Liabilities | The primary components of the temporary differences which give rise to the Company’s net deferred tax assets (liabilities) are as follows:
|  | As of June 30,
(In thousands) |  | 2021 |  | 2020 |  |
Deferred tax assets: |  |  |  |  |  |
Postretirement benefits |  | $ | 9,364 |  |  | $ | 20,232 |  |  |
Accrued liabilities |  | 7,314 |  |  | 3,970 |  |  |
Net operating loss carryforwards |  | 48,195 |  |  | 38,754 |  |  |
Intangible assets |  | 7,377 |  |  | 9,482 |  |  |
Operating lease liabilities |  | 6,592 |  |  | 5,419 |  |  |
Other |  | 6,292 |  |  | 6,893 |  |  |
Total deferred tax assets |  | 85,134 |  |  | 84,750 |  |  |
Deferred tax liabilities: |  |  |  |  |  |
Fixed assets |  | (15,448) |  |  | (13,427) |  |  |
Right-of-use operating lease assets |  | (6,606) |  |  | (5,513) |  |  |
Other |  | 72 |  |  | (2,950) |  |  |
Total deferred tax liabilities |  | (21,982) |  |  | (21,890) |  |  |
Valuation allowance |  | (64,312) |  |  | (64,354) |  |  |
Net deferred tax liabilities |  | $ | (1,160) |  |  | $ | (1,494) |  |  |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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