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Income Taxes (Tables)
12 Months Ended
Jun. 30, 2013
Income Tax Disclosure [Abstract]  
Earnings from Continuing Operations before Income Taxes

Earnings from continuing operations before income taxes shown below are based on the geographic location to which such earnings are attributable.

 

     Years Ended June 30,  
     2013      2012      2011  
     ($ in millions)  

Earnings from continuing operations before income taxes:

        

U.S.

   $ 252.3       $ 125.5       $ 196.2   

Foreign

     70.9         75.4         73.5   
  

 

 

    

 

 

    

 

 

 
   $ 323.2       $ 200.9       $ 269.7   
  

 

 

    

 

 

    

 

 

 
Components of Provision for Income Taxes

The Provision for income taxes consists of the following components:

 

     Years Ended June 30,  
     2013     2012     2011  
     ($ in millions)  

Current:

      

U.S. Domestic

   $ 73.1      $ 53.3      $ 56.3   

Foreign

     15.8        22.0        22.9   

State

     8.1        9.0        5.9   
  

 

 

   

 

 

   

 

 

 

Total current

     97.0        84.3        85.1   

Deferred:

      

U.S. Domestic

     16.0        (5.2     20.0   

Foreign

           (1.1     (1.5

State

     (1.9     (2.1     (5.7
  

 

 

   

 

 

   

 

 

 

Total deferred

     14.1        (8.4     12.8   
  

 

 

   

 

 

   

 

 

 

Total provision for income taxes

   $ 111.1      $ 75.9      $ 97.9   
  

 

 

   

 

 

   

 

 

 
Effective Income Tax Rate Reconciliation
     Years Ended June 30,  
     2013     %     2012     %     2011     %  
     ($ in millions)  

Provision for income taxes at U.S. statutory rate

   $ 113.1        35.0      $ 70.3        35.0      $ 94.4        35.0   

Increase (decrease) in Provision for income taxes from:

            

State taxes, net of federal tax

     4.6        1.4        4.8        2.4        3.6        1.3   

Foreign taxes

     (4.3     (1.3     (5.7     (2.8     (1.4     (0.5

Valuation allowances

     1.0        0.3        3.2        1.6        (4.5     (1.7

Advance pricing agreement adjustment

     —         —         —         —         4.9        1.9   

Other

     (3.3     (1.0     3.3        1.6        0.9        0.3   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
   $ 111.1        34.4      $ 75.9        37.8      $ 97.9        36.3   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities at June 30, 2013 and 2012 were as follows:

 

     June 30,  
     2013     2012  
     ($ in millions)  

Classification:

    

Current deferred tax assets (included in Other current assets)

   $ 16.9      $ 19.8   

Long-term deferred tax assets (included in Other non-current assets)

     0.4        0.3   

Current deferred tax liabilities (included in Accrued expenses and other current liabilities)

     (0.6     (0.5

Long-term deferred tax liabilities

     (71.2     (63.2
  

 

 

   

 

 

 

Net deferred tax liabilities

   $ (54.5   $ (43.6
  

 

 

   

 

 

 

Components:

    

Deferred tax assets:

    

Accrued expenses not currently deductible

   $ 4.1      $ 3.4   

Depreciation

     22.2        25.1   

Compensation and benefits not currently deductible

     44.9        49.6   

Net operating and capital losses

     32.5        33.5   

Tax credits

     4.3        1.9   

Other

     6.5        9.4   
  

 

 

   

 

 

 
     114.5        122.9   

Less: Valuation allowances

     (12.5     (14.7
  

 

 

   

 

 

 

Deferred tax assets, net

     102.0        108.2   
  

 

 

   

 

 

 

Deferred tax liabilities:

    

Goodwill and identifiable intangibles

     127.0        126.4   

Net deferred expenses

     25.1        21.6   

Other

     4.4        3.8   
  

 

 

   

 

 

 

Deferred tax liabilities

     156.5        151.8   
  

 

 

   

 

 

 

Net deferred tax liabilities

   $ (54.5   $ (43.6
  

 

 

   

 

 

 
Summary of Activity Related to Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits:

 

     Fiscal Year Ended
June 30,
 
     2013     2012      2011  
     ($ in millions)  

Beginning balance

   $ 62.6      $ 47.0       $ 16.7   

Gross increase related to prior period tax positions

     1.9        9.2         31.4   

Gross increase related to current period tax positions

     2.2        6.4         2.6   

Gross decrease related to prior period tax positions

     (36.7     —          (3.7
  

 

 

   

 

 

    

 

 

 

Balance at June 30,

   $ 30.0      $ 62.6       $ 47.0