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Income Taxes
9 Months Ended
Mar. 31, 2017
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
 
The effective tax rate used for interim periods is the estimated annual effective consolidated tax rate, based on the current estimate of full year results, except that taxes related to specific events, if any, are recorded in the interim period in which they occur.
 
Income tax expense for the three months ended March 31, 2017 was $8.4 million, or 28.9 percent of pre-tax income as compared with a benefit of $9.1 million, or 27.6 percent of pre-tax loss for the three months ended March 31, 2016. Income tax expense for the nine months ended March 31, 2017 was $10.6 million or 33.0 percent of pre-tax income as compared with $1.8 million, or negative 100.0 percent of pre-tax loss for the nine months ended March 31, 2016.

Income tax benefit for the three months ended March 31, 2016 includes the impact of non-cash goodwill impairment charges, a portion of which is non-deductible for tax purposes, as well as a discrete tax charge of $0.8 million related to the sale of an equity method investment in India.

In October 2016, the Company made a voluntary pension contribution of $100.0 million that was announced in connection with the plan freeze.  As a result of the pension contribution, income tax expense in the nine months ended March 31, 2017 includes a discrete tax charge of $2.1 million due to reduced tax benefits for domestic manufacturing claimed in prior periods. Tax expense for the nine months ended March 31, 2016 includes net tax benefits of $0.8 million primarily for additional research and development credits as a result of the December 2015 enactment of the Protecting Americans from Tax Hikes Act of 2015 as well as a discrete tax charge of $2.8 million recorded as a result of the decision to sell an equity method investment in India. 

As of June 30, 2016, the Company had $106.5 million of indefinitely reinvested foreign earnings for which deferred income taxes have not been provided.  Due to a change in foreign cash requirements, the Company has changed its intent with regard to the indefinite reinvestment of foreign earnings of one of its foreign subsidiaries. As a result of this change, the Company repatriated $11.5 million of foreign earnings during the nine months ended March 31, 2017 and recognized associated tax benefits of $0.9 million. The remaining balance, approximately $95.0 million, of undistributed foreign earnings continues to be indefinitely reinvested.