Income Taxes (Tables)

12 Months Ended

Jun. 30, 2012

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The current and deferred components of the provision for income taxes consist of the following:

	June 30,
	2012			2011			2010
	(In thousands)
Current:
Federal	$	(385	)	$	(4	)	$	(3,514	)
State	115			324			227
Total current income tax (benefit) expense	(270		)	320			(3,287		)
Deferred:
Federal	(63		)	(7,867		)	629
State	(14		)	(1,620		)	129
Total deferred income tax (benefit) expense	(77		)	(9,487		)	758
Income tax benefit	$	(347	)	$	(9,167	)	$	(2,529	)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of income tax benefit to the federal statutory tax rate is as follows:

	June 30, 2012			June 30, 2011			June 30, 2010
Statutory tax rate	34		%	34		%	34		%
	(In thousands)
Income tax benefit at statutory rate	$	(10,090	)	$	(21,585	)	$	(9,004	)
State income tax (net of federal tax benefit)	(1,167		)	(2,765		)	(1,238		)
Dividend income exclusion	(85		)	(532		)	(765		)
Valuation allowance	11,794			16,529			8,752
Change in contingency reserve (net)	(561		)	(1,308		)	7
Research tax credit (net)	(15		)	(16		)	(66		)
Other (net)	(223		)	510			(215		)
Income tax benefit	$	(347	)	$	(9,167	)	$	(2,529	)

Schedule of Deferred Tax Assets and Liabilities

The primary components of the temporary differences which give rise to the Company’s net deferred tax liabilities are as follows:

	June 30,
	2012			2011			2010
	(In thousands)
Deferred tax assets:
Postretirement benefits	$	32,481		$	20,226		$	27,589
Accrued liabilities	3,958			4,138			4,376
Capital loss carryforward	2,865			2,945			1,971
Net operating loss carryforward	47,114			37,170			17,261
Intangible assets	919			—			—
Other	1,295			4,328			2,464
Total deferred tax assets	88,632			68,807			53,661
Deferred tax liabilities:
Fixed assets	(4,117		)	(7,881		)	(5,551		)
Intangible assets	—			(1,032		)	(4,498		)
Other	(794		)	(814		)	(726		)
Total deferred tax liabilities	(4,911		)	(9,727		)	(10,775		)
Valuation allowance	(84,954		)	(60,390		)	(43,860		)
Net deferred tax liability	$	(1,233	)	$	(1,310	)	$	(974	)

Summary of Income Tax Contingencies

A tabular reconciliation of the total amounts (in absolute values) of unrecognized tax benefits is as follows:

	Year Ended June 30,
	2012			2011			2010
	(In thousands)
Unrecognized tax benefits at beginning of year	$	3,902		$	5,218		$	4,382
Increases in tax positions for prior years	—			—			—
(Decreases) increases in tax positions for current year	—			(1,316		)	836
Settlements	(691		)	—			—
Lapse in statute of limitations	—			—			—
Unrecognized tax benefits at end of year	$	3,211		$	3,902		$	5,218