XML 76 R21.htm IDEA: XBRL DOCUMENT v2.4.0.8
Income Taxes
9 Months Ended
Mar. 31, 2014
Income Tax Disclosure [Abstract]  
INCOME TAXES
INCOME TAXES
The effective income tax rate for the three months ended March 31, 2014 and 2013 was 24.1 percent and 18.5 percent, respectively. The increase was primarily driven by the impact of the American Taxpayer Relief Act of 2012 that was enacted during the prior year quarter, which extended the credit for the increasing research activities.
The effective income tax rate for the nine months ended March 31, 2014 and 2013 was 28.5 percent and 21.7 percent, respectively. The increase was primarily driven by a $7.2 million tax charge incurred in the second quarter related to a change in assertion of a foreign subsidiary's certain undistributed earnings, which are no longer considered permanently reinvested. This change in assertion during the second quarter is related to the repatriation of $57.0 million. All earnings of other non U.S. subsidiaries are indefinitely reinvested and no deferred taxes have been provided on those earnings. This tax charge was partially offset by a lower relative U.S. current year earnings contribution.