Income Taxes (Tables)

12 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

Schedule Of Taxes Based On Income

Taxes based on income from continuing operations for the years ended June 30 have been provided as follows:

	2014			2013		2012
Currently payable:
Federal	$	48,718		$	45,350	$	39,720
State and local	4,526			3,475		4,116
Total current provision	53,244			48,825		43,836
Deferred Federal, state and local (benefit) provision	(951		)	1,133		5,031
Total taxes based on income	$	52,293		$	49,958	$	48,867

Tax Benefits Recorded Directly To Common Stock

Certain tax benefits recorded directly to common stock for each of the years ending June 30 were as follows:

	2014		2013		2012
Tax benefits recorded directly to common stock	$	1,020	$	794	$	301

Reconciliation Of The Effective Income Tax Rate

For the years ended June 30, our effective tax rate varied from the statutory Federal income tax rate as a result of the following factors:

	2014		2013		2012
Statutory rate	35.0	%	35.0	%	35.0	%
State and local income taxes	2.0		1.5		2.1
ESOP dividend deduction	(0.2	)	(0.8	)	(0.2	)
Domestic manufacturing deduction	(3.0	)	(3.1	)	(2.6	)
Other	0.3		(0.1	)	0.3
Effective rate	34.1	%	32.5	%	34.6	%

Schedule Of Deferred Tax Assets And Liabilities

The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at June 30 were comprised of:

	2014			2013
Deferred tax assets:
Inventories	$	720		$	2,597
Employee medical and other benefits	10,149			11,161
Receivable and other allowances	4,410			4,375
Other accrued liabilities	2,895			3,133
Total deferred tax assets	18,174			21,266
Deferred tax liabilities:
Property, plant and equipment	(21,307		)	(21,607		)
Goodwill	(4,212		)	(3,804		)
Other	(79		)	(425		)
Total deferred tax liabilities	(25,598		)	(25,836		)
Net deferred tax liability	$	(7,424	)	$	(4,570	)

Net Current Deferred Tax Assets And Prepaid Federal, State, And Local Income Taxes

Net current deferred tax assets and prepaid Federal, state and local income taxes were included in Deferred Income Taxes and Other Current Assets on the Consolidated Balance Sheet. The related balances at June 30 were as follows:

	2014		2013
Net current deferred tax assets	$	11,329	$	13,704
Prepaid Federal, state and local income taxes	$	9,688	$	7,549

Cash Payments For Income Taxes

Cash payments for income taxes for each of the years ending June 30 were as follows:

	2014		2013		2012
Cash payments for income taxes	$	37,277	$	56,992	$	38,726

Reconciliation Of Tax Contingencies Reserve

The following table sets forth changes in our total gross tax contingency reserve (including interest and penalties):

	2014			2013
Balance, beginning of year	$	912		$	1,939
Tax positions related to the current year:
Additions	66			66
Reductions	—			—
Tax positions related to prior years:
Additions	39			86
Reductions	(54		)	(1,021		)
Settlements	—			(158		)
Balance, end of year	$	963		$	912

Net Tax-Related Interest And Penalties Recognized

For each of the years ended June 30, we recognized the change in the accrual for net tax-related interest and penalties as follows:

	2014		2013
Expense (benefit) recognized for net tax-related interest and penalties	$	9	$	(539	)

Accrued Interest And Penalties

We had accrued interest and penalties at June 30 as follows:

	2014		2013
Accrued interest and penalties included in the gross tax contingency reserve	$	392	$	383