Income Taxes (Tables)

12 Months Ended

Jun. 30, 2023

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:

	2023		2022		2021
Currently payable:
Federal	$	20,147	$	19,751	$	32,655
State and local	3,978		1,974		7,460
Total current provision	24,125		21,725		40,115
Deferred federal, state and local provision	7,886		1,077		3,298
Total taxes based on income	$	32,011	$	22,802	$	43,413

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:

	2023		2022		2021
Statutory rate	21.0	%	21.0	%	21.0	%
State and local income taxes	2.4		0.7		3.2
Research and development tax credit	(1.1)		(1.7)		(0.8)
Net windfall tax benefits - stock-based compensation	(0.4)		(0.1)		(0.6)
Other	0.4		0.4		0.6
Effective rate	22.3	%	20.3	%	23.4	%

Schedule Of Deferred Tax Assets And Liabilities

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

	2023		2022
Deferred tax assets:
Employee medical and other benefits	$	7,561	$	6,638
Operating lease liabilities	5,613		6,553
Section 174 research and development capitalization	4,281		—
Inventories	4,143		1,668
Receivables	3,042		2,756
Intangible assets	1,426		—
Other accrued liabilities	1,600		1,443
Total deferred tax assets	27,666		19,058
Deferred tax liabilities:
Property, plant and equipment	(50,106)		(33,738)
Goodwill	(19,070)		(15,930)
Operating lease right-of-use assets	(5,815)		(6,726)
Intangible assets	—		(1,494)
Other	—		(59)
Total deferred tax liabilities	(74,991)		(57,947)
Net deferred tax liability	$	(47,325)	$	(38,889)

Net Cash Payments For Income Taxes

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

	2023		2022		2021
Net cash payments for income taxes	$	26,327	$	17,827	$	40,735

Reconciliation Of Gross Tax Contingency Reserve

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

	2023		2022
Balance, beginning of year	$	925	$	1,253
Tax positions related to the current year:
Additions	—		—
Reductions	—		—
Tax positions related to prior years:
Additions	39		45
Reductions	(106)		(373)
Settlements	—		—
Balance, end of year	$	858	$	925

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:

	2023		2022
Benefit recognized for net tax-related interest and penalties	$	(13)	$	(22)

Accrued Interest And Penalties

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

	2023		2022
Accrued interest and penalties included in the gross tax contingency reserve	$	494	$	507