INCOME TAXES	6 Months Ended
Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company's income tax expense is attributable to the activities of the Company, PHSI and PSCI (subsidiaries of Premier LP), which are all subchapter C corporations. Under the provisions of federal and state statutes, Premier LP is not subject to federal and state income taxes. For federal and state income tax purposes, income realized by Premier LP is taxable to its partners. The Company, PHSI and PSCI are subject to U.S. federal and state income taxes. For the three months ended December 31, 2014 and 2013, the Company recorded tax expense on income before taxes of $4.3 million and $14.3 million, respectively, which equates to an effective tax rate of 6.1% and 21.7%, respectively. For the six months ended, the Company recorded tax expense on income before taxes of $10.1 million and $15.0 million, respectively, which equates to an effective tax rate of 7.2% and 8.4%, respectively. For the three and six months ended December 31, 2014 and 2013, the Company's effective income tax rate differs from income taxes recorded at the statutory rate primarily due to partnership income not subject to federal income taxes, state and local taxes and nondeductible expenses. The effective tax rate has decreased from the prior year due to lower taxable income and federal tax credits claimed in the current year related to the reinstatement of the federal research tax credit. The Company has deferred tax assets of $358.4 million as of December 31, 2014, an increase of $61.8 million from $296.6 million as of June 30, 2014, which is primarily attributable to an additional deferred tax benefit of $67.1 million recorded in connection with basis differences in assets related to the quarterly exchange of member units pursuant to the Exchange Agreement that occurred on October 31, 2014, offset by deferred tax liabilities of $6.2 million recorded in connection with the acquisitions of Aperek and TheraDoc, with the remaining $0.9 million deferred tax benefit recorded in the ordinary course of business. The Company has tax receivable agreement liabilities of $242.3 million as of December 31, 2014, representing 85% of the tax savings the Company expects to receive in connection with the Section 754 election, an increase of $50.0 million from the $192.3 million as of June 30, 2014. The Company recorded $51.1 million in tax receivable agreement liabilities due to the additional tax savings to be generated and paid out to the member owners pursuant to the tax receivable agreements in connection with the quarterly exchange that occurred during the three months ended December 31, 2014. During the three months ended September 30, 2014, the Company recorded a $1.1 million reduction in the tax receivable agreement liabilities in connection with the departed member owners of Premier LP, which resulted in a $1.1 million reduction to selling, general and administrative expenses.

INCOME TAXES

The Company's income tax expense is attributable to the activities of the Company, PHSI and PSCI (subsidiaries of Premier LP), which are all subchapter C corporations. Under the provisions of federal and state statutes, Premier LP is not subject to federal and state income taxes. For federal and state income tax purposes, income realized by Premier LP is taxable to its partners. The Company, PHSI and PSCI are subject to U.S. federal and state income taxes.

For the three months ended December 31, 2014 and 2013, the Company recorded tax expense on income before taxes of $4.3 million and $14.3 million, respectively, which equates to an effective tax rate of 6.1% and 21.7%, respectively. For the six months ended, the Company recorded tax expense on income before taxes of $10.1 million and $15.0 million, respectively, which equates to an effective tax rate of 7.2% and 8.4%, respectively. For the three and six months ended December 31, 2014 and 2013, the Company's effective income tax rate differs from income taxes recorded at the statutory rate primarily due to partnership income not subject to federal income taxes, state and local taxes and nondeductible expenses. The effective tax rate has decreased from the prior year due to lower taxable income and federal tax credits claimed in the current year related to the reinstatement of the federal research tax credit.

The Company has deferred tax assets of $358.4 million as of December 31, 2014, an increase of $61.8 million from $296.6 million as of June 30, 2014, which is primarily attributable to an additional deferred tax benefit of $67.1 million recorded in connection with basis differences in assets related to the quarterly exchange of member units pursuant to the Exchange Agreement that occurred on October 31, 2014, offset by deferred tax liabilities of $6.2 million recorded in connection with the acquisitions of Aperek and TheraDoc, with the remaining $0.9 million deferred tax benefit recorded in the ordinary course of business.

The Company has tax receivable agreement liabilities of $242.3 million as of December 31, 2014, representing 85% of the tax savings the Company expects to receive in connection with the Section 754 election, an increase of $50.0 million from the $192.3 million as of June 30, 2014. The Company recorded $51.1 million in tax receivable agreement liabilities due to the additional tax savings to be generated and paid out to the member owners pursuant to the tax receivable agreements in connection with the quarterly exchange that occurred during the three months ended December 31, 2014. During the three months ended September 30, 2014, the Company recorded a $1.1 million reduction in the tax receivable agreement liabilities in connection with the departed member owners of Premier LP, which resulted in a $1.1 million reduction to selling, general and administrative expenses.