Income Taxes (Tables)

12 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

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

	For the Years Ended June 30,
(In thousands)	2020			2019			2018
Statutory tax rate	21		%	21		%	28		%
Income tax (benefit) expense at statutory rate	$	(7,829	)	$	(7,032	)	$	(272	)
State income tax (benefit) expense, net of federal tax benefit	(1,523		)	(1,295		)	12
Valuation allowance	9,153			50,123			283
Change in tax rate	233			124			18,022
Retiree life insurance	—			—			19
Other (net)	(229		)	(1,809		)	(752		)
Income tax expense	$	(195	)	$	40,111		$	17,312

Schedule of Deferred Tax Assets and Liabilities

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

	As of June 30,
(In thousands)	2020			2019
Deferred tax assets:
Postretirement benefits	$	20,232		$	20,775
Accrued liabilities	3,970			5,042
Net operating loss carryforwards	38,754			37,768
Intangible assets	9,482			—
Operating lease liabilities	5,419			—
Other	6,893			5,950
Total deferred tax assets	84,750			69,535
Deferred tax liabilities:
Fixed assets	(13,427		)	(15,562		)
Right-of-use operating lease assets	(5,513		)	—
Other	(2,950		)	(3,749		)
Total deferred tax liabilities	(21,890		)	(19,311		)
Valuation allowance	(64,354		)	(52,019		)
Net deferred tax liabilities	$	(1,494	)	$	(1,795	)