INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

Income before Income Tax

The components of income before income taxes are as follows (dollars in thousands):

	For the Year Ended June 30,
	2015		2014		2013
U.S.	$	33,693	$	58,539	$	56,200
Foreign		119,967		120,828		108,769
Total	$	153,660	$	179,367	$	164,969

Income Tax Provisions (Benefits)

The income tax provisions (benefits) related to the above results are as follows (dollars in thousands):

	For the Year Ended June 30,
Income Tax Provision:	2015		2014		2013
Current Tax Provision
U.S. Federal	$	10,146	$	32,660	$	46,958
State and Local		2,756		5,133		5,274
Foreign		2,602		1,240		2,217
Total Current		15,504		39,033		54,449
Deferred Tax Provision
U.S. Federal		(45)		(9,545)		(16,128)
State and Local		(486)		(4,447)		417
Foreign		3,564		2,658		489
Total Deferred		3,033		(11,334)		(15,222)
Income Tax Provision	$	18,537	$	27,699	$	39,227

Income Tax Provisions Computed using Statutory U.S. Federal Rate

The income tax provisions differ from those that would be computed using the statutory U.S. federal rate as a result of the following items (dollars in thousands):

	For the Year Ended June 30,
	2015				2014				2013
Income Tax at Statutory Rate	$	53,787	35.0	%	$	62,778	35.0	%	$	57,739	35.0	%
Lower Rates on Foreign Operations		(36,428)	(23.7)	%		(36,659)	(20.4)	%		(33,395)	(20.2)	%
State Income Taxes		2,453	1.6	%		2,997	1.6	%		7,854	4.8	%
Stock Options		117	0.1	%		(43)	0.0	%		817	0.5	%
Nondeductible Goodwill		-	0.0	%		-	0.0	%		12,876	7.8	%
Tax Credits and Other		(1,392)	(0.9)	%		(1,374)	(0.8)	%		(6,664)	(4.1)	%
Income Tax Provision	$	18,537	12.1	%	$	27,699	15.4	%	$	39,227	23.8	%

Deferred Tax Assets (Liabilities)

These assets and liabilities are composed of the following (dollars in thousands):

	For the Year Ended June 30,
	2015		2014		2013
Loss and Credit Carryforwards, net	$	21,544	$	13,371	$	9,614
Employee Benefits		17,852		21,853		15,762
Stock-Based Payments		17,136		16,606		14,707
Deferred Rent		24,102		22,145		22,302
Receivable Reserve		20,043		23,036		18,076
Restructuring Reserve		8,903		8,618		5,010
Other Reserves		3,519		3,068		3,423
Less: Valuation Allowance		(10,552)		(9,002)		(6,538)
Gross Deferred Tax Assets		102,547		99,695		82,356
Depreciation		(25,860)		(34,398)		(47,075)
Amortization of Intangible Assets		(91,321)		(73,539)		(65,626)
Gross Deferred Tax Liability		(117,181)		(107,937)		(112,701)
Net Deferred Taxes	$	(14,634)	$	(8,242)	$	(30,345)

Changes in Unrecognized Tax Benefits

The changes in our unrecognized tax benefits were (dollars in millions):

	For the Year Ended June 30,
	2015		2014		2013
Beginning Balance, July 1	$	9.1	$	9.0	$	22.0
Increases from Positions Taken During Prior Periods		3.2		0.6		0.9
Decreases from Positions Taken During Prior Periods		(4.4)		(1.3)		(14.2)
Increases from Positions Taken During the Current Period		0.6		0.8		0.3
Ending Balance, June 30	$	8.5	$	9.1	$	9.0