Income Taxes

6 Months Ended

Dec. 31, 2012

Income Taxes

Income Taxes

13. 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 December 31, 2012 was $16.4 million, or 33.1 percent of pre-tax income as compared with $14.7 million, or 38.2 percent of pre-tax income for the three months ended December 31, 2011. For the six months ended December 31, 2012, income tax expense was $35.9 million, or 33.1 percent of pre-tax income, as compared with income tax expense of $27.2 million, or 36.4 percent of pre-tax income, for the six months ended December 31, 2011.  The prior year periods were negatively impacted by a state tax legislative change and non-deductible acquisition related expenses related to the Latrobe Acquisition.