INCOME TAXES	9 Months Ended
Mar. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	(13) INCOME TAXES The Company's income tax expense is attributable to the activities of the Company, PHSI and PSCI, all of which are subchapter C corporations subject to U.S. federal and state income taxes. In contrast, Premier LP is not subject to federal and state income taxes as its income is taxable to its partners. For the three months ended March 31, 2017 and 2016, the Company recorded tax expense of $6.5 million and $9.5 million, respectively, which equates to effective tax rates of 8% and 12%, respectively. The decrease in the effective tax rate is primarily attributable to a deferred tax benefit recognized in connection with an increase in income apportioned to California. For the nine months ended March 31, 2017 and 2016, the Company recorded tax expense of $134.8 million and $41.3 million, respectively, which equates to effective tax rates of 30% and 18%, respectively. The increase in the effective tax rate is primarily attributable to deferred tax expense associated with the one-time gain recognized from the remeasurement of the 50% equity method investment in Innovatix to fair value upon acquisition of Innovatix and Essensa and corresponding partnership income and basis differences in Premier LP at the Company (see Note 3 - Business Acquisitions). The Company's effective tax rate differs from income taxes recorded at the statutory rate primarily due to partnership income not subject to federal, state and local income taxes and valuation allowances against deferred tax assets at PHSI. The Company had net deferred tax assets of $398.8 million and $422.8 million as of March 31, 2017 and June 30, 2016, respectively. The current period balance was comprised of $479.2 million in deferred tax assets at Premier, Inc. offset by $80.4 million in deferred tax liabilities at PHSI and PSCI. The decrease of $24.0 million was primarily attributable to a $94.9 million deferred tax liability associated with the one-time gain recognized from the remeasurement of the 50% equity method investment in Innovatix to fair value upon acquisition of Innovatix and Essensa and corresponding partnership income and basis differences in Premier LP at the Company (see Note 3 - Business Acquisitions) and an $18.8 million valuation allowance recorded against deferred tax assets primarily at PHSI. These decreases were partially offset by $94.6 million of deferred tax assets recorded in connection with the exchanges of Class B common units pursuant to the Exchange Agreement that occurred during the nine months ended March 31, 2017. The Company had TRA liabilities of $347.4 million and $279.7 million at March 31, 2017 and June 30, 2016, respectively, representing 85% of the tax savings payable to limited partners that the Company expects to receive in connection with the Section 754 election. The election results in adjustments to the tax bases of the assets of Premier LP upon member owner exchanges of Class B common units of Premier LP for Class A common stock of Premier, Inc. or cash. The $67.7 million increase was primarily attributable to $70.8 million of liabilities incurred in connection with quarterly member owner exchanges that occurred during the nine months ended March 31, 2017.

(13) INCOME TAXES

The Company's income tax expense is attributable to the activities of the Company, PHSI and PSCI, all of which are subchapter C corporations subject to U.S. federal and state income taxes. In contrast, Premier LP is not subject to federal and state income taxes as its income is taxable to its partners.

For the three months ended March 31, 2017 and 2016, the Company recorded tax expense of $6.5 million and $9.5 million, respectively, which equates to effective tax rates of 8% and 12%, respectively. The decrease in the effective tax rate is primarily attributable to a deferred tax benefit recognized in connection with an increase in income apportioned to California. For the nine months ended March 31, 2017 and 2016, the Company recorded tax expense of $134.8 million and $41.3 million, respectively, which equates to effective tax rates of 30% and 18%, respectively. The increase in the effective tax rate is primarily attributable to deferred tax expense associated with the one-time gain recognized from the remeasurement of the 50% equity method investment in Innovatix to fair value upon acquisition of Innovatix and Essensa and corresponding partnership income and basis differences in Premier LP at the Company (see Note 3 - Business Acquisitions). The Company's effective tax rate differs from income taxes recorded at the statutory rate primarily due to partnership income not subject to federal, state and local income taxes and valuation allowances against deferred tax assets at PHSI.

The Company had net deferred tax assets of $398.8 million and $422.8 million as of March 31, 2017 and June 30, 2016, respectively. The current period balance was comprised of $479.2 million in deferred tax assets at Premier, Inc. offset by $80.4 million in deferred tax liabilities at PHSI and PSCI. The decrease of $24.0 million was primarily attributable to a $94.9 million deferred tax liability associated with the one-time gain recognized from the remeasurement of the 50% equity method investment in Innovatix to fair value upon acquisition of Innovatix and Essensa and corresponding partnership income and basis differences in Premier LP at the Company (see Note 3 - Business Acquisitions) and an $18.8 million valuation allowance recorded against deferred tax assets primarily at PHSI. These decreases were partially offset by $94.6 million of deferred tax assets recorded in connection with the exchanges of Class B common units pursuant to the Exchange Agreement that occurred during the nine months ended March 31, 2017.

The Company had TRA liabilities of $347.4 million and $279.7 million at March 31, 2017 and June 30, 2016, respectively, representing 85% of the tax savings payable to limited partners that the Company expects to receive in connection with the Section 754 election. The election results in adjustments to the tax bases of the assets of Premier LP upon member owner exchanges of Class B common units of Premier LP for Class A common stock of Premier, Inc. or cash. The $67.7 million increase was primarily attributable to $70.8 million of liabilities incurred in connection with quarterly member owner exchanges that occurred during the nine months ended March 31, 2017.