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Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2024
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:
|  | For the Years Ended June 30,
(In thousands) |  | 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | — |  |  | $ | — |
State |  | 14 |  |  | 142 |  |  | 124 |
Total current income tax expense |  | 14 |  |  | 142 |  |  | 124 |
Deferred: |  |  |  |  |  |
Federal |  | — |  |  | (373) |  |  | — |
State |  | — |  |  | (94) |  |  | — |
Total deferred income tax (benefit) expense |  | — |  |  | (467) |  |  | — |
Income tax expense (benefit) |  | $ | 14 |  |  | $ | (325) |  |  | $ | 124 |
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) |  | 2024 |  | 2023 |  | 2022
Statutory tax rate |  | 21% |  | 21% |  | 21%
Income tax benefit at statutory rate |  | $ | (811) |  |  | $ | (7,216) |  |  | $ | (389) |
State income tax expense (benefit) (net of federal tax benefit) |  | 933 |  |  | 2,407 |  |  | (754) |
Valuation allowance |  | (3,223) |  |  | 3,788 |  |  | 1,767 |
Change in tax rate |  | (26) |  |  | (111) |  |  | (210) |
Post-retirement medical plan and other offset in OCI |  | — |  |  | (467) |  |  | — |
Other (net) |  | 3,141 |  |  | 1,274 |  |  | (290) |
Income tax expense (benefit) |  | $ | 14 |  |  | $ | (325) |  |  | $ | 124 |
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) |  | 2024 |  | 2023
Deferred tax assets: |  |  |  |
Postretirement benefits |  | $ | 3,290 |  |  | $ | 5,349 |
Accrued liabilities |  | 2,121 |  |  | 2,642 |
163(j) Interest Limitation |  | 9,633 |  |  | 7,772 |
Net operating loss carryforward |  | 54,981 |  |  | 55,566 |
Intangible assets |  | 5,476 |  |  | 6,481 |
Right-of-use operating lease liabilities |  | 9,009 |  |  | 6,346 |
Other |  | 5,128 |  |  | 5,436 |
Total deferred tax assets |  | 89,638 |  |  | 89,592 |
Deferred tax liabilities: |  |  |  |
Property, plant and equipment |  | (4,086) |  |  | (725) |
Right-of-use operating lease assets |  | (8,865) |  |  | (6,194) |
Other |  | (1,284) |  |  | (2,238) |
Total deferred tax liabilities |  | (14,235) |  |  | (9,157) |
Valuation allowance |  | (75,403) |  |  | (80,435) |
Net deferred tax liability |  | $ | — |  |  | $ | — |

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- 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/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
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