Income Taxes (Tables)

12 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Schedule Of Taxes Based On Income

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

	2022		2021		2020
Currently payable:
Federal	$	19,751	$	32,655	$	23,392
State and local	1,974		7,460		6,808
Total current provision	21,725		40,115		30,200
Deferred federal, state and local provision	1,077		3,298		11,894
Total taxes based on income	$	22,802	$	43,413	$	42,094

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:

	2022		2021		2020
Statutory rate	21.0	%	21.0	%	21.0	%
State and local income taxes	0.7		3.2		3.1
Research and development tax credit	(1.7)		(0.8)		—
Net windfall tax benefits - stock-based compensation	(0.1)		(0.6)		(0.8)
Other	0.4		0.6		0.2
Effective rate	20.3	%	23.4	%	23.5	%

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:

	2022		2021
Deferred tax assets:
Employee medical and other benefits	$	6,638	$	6,853
Operating lease liabilities	6,553		5,181
Receivables	2,756		2,175
Inventories	1,668		3,003
Other accrued liabilities	1,443		1,719
Total deferred tax assets	19,058		18,931
Deferred tax liabilities:
Property, plant and equipment	(33,738)		(31,052)
Goodwill	(15,930)		(14,174)
Operating lease right-of-use assets	(6,726)		(5,298)
Intangible assets	(1,494)		(7,076)
Other	(59)		(33)
Total deferred tax liabilities	(57,947)		(57,633)
Net deferred tax liability	$	(38,889)	$	(38,702)

Net Cash Payments For Income Taxes

Net cash payments for income taxes for each of the years ended June 30 were as follows:

	2022		2021		2020
Net cash payments for income taxes	$	17,827	$	40,735	$	30,958

Reconciliation Of Gross Tax Contingency Reserve

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

	2022		2021
Balance, beginning of year	$	1,253	$	968
Tax positions related to the current year:
Additions	—		—
Reductions	—		—
Tax positions related to prior years:
Additions	45		311
Reductions	(373)		(26)
Settlements	—		—
Balance, end of year	$	925	$	1,253

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:

	2022		2021
(Benefit) expense recognized for net tax-related interest and penalties	$	(22)	$	48

Accrued Interest And Penalties

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

	2022		2021
Accrued interest and penalties included in the gross tax contingency reserve	$	507	$	529