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Income Taxes
6 Months Ended
Dec. 31, 2013
Income Tax Disclosure [Abstract]  
Income Taxes

Note 10 – Income Taxes

Our provision for income taxes is based on an estimated annual tax rate for the year applied to federal, state and foreign income. Income tax expense for the three months ended December 31, 2013 and 2012 was $23.5 million and $14.8 million, respectively. The effective tax rate for the three months ended December 31, 2013 and 2012 was 24.7 percent and 23.7 percent, respectively. The change in the effective tax rate for the three months ended December 31, 2013 compared to the same period in the prior year was primarily due to higher income in the U.S. that is subject to a tax rate higher than those in our key foreign jurisdictions.

Income tax expense for the six months ended December 31, 2013 and 2012 was $42.1 million and $32.0 million, respectively. The effective tax rate for the six months ended December 31, 2013 and 2012 was 26.3 percent and 23.9 percent, respectively. The change in the effective tax rate for the six months ended December 31, 2013 compared to the same period in the prior year was primarily due to higher income in the U.S. that is subject to a tax rate higher than those in our key foreign jurisdictions.

As of December 31, 2013 unrecognized tax benefits and the related interest were $36.1 million and $2.6 million, respectively; all of which would affect the tax rate if recognized. During the three and six months ended December 31, 2013, we recorded tax reserves on uncertain tax positions in the amount of $0.2 million and $1.0 million, respectively. During the three and six months ended December 31, 2013, we recorded additional interest expense on uncertain tax positions of $0.4 million and $0.5 million, respectively.