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Income Taxes
6 Months Ended
Dec. 31, 2014
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, 2014 and 2013 was $29.1 million and $23.5 million, respectively. The effective tax rate for the three months ended December 31, 2014 and 2013 was 20.0 percent and 24.7 percent, respectively. The change in the effective tax rate for the three months ended December 31, 2014 compared to the same period in the prior year was primarily due to the retroactive reinstatement of the U.S. research and experimentation credit and discrete tax charges booked in the prior period.

Income tax expense for the six months ended December 31, 2014 and 2013 was $56.9 million and $42.1 million, respectively. The effective tax rate for the six months ended December 31, 2014 and 2013 was 22.2 percent and 26.3 percent, respectively. The change in the effective tax rate for the six months ended December 31, 2014 compared to the same period in the prior year was primarily due to the retroactive reinstatement of the U.S. research and experimentation credit and discrete tax charges booked in the prior period.

As of December 31, 2014 unrecognized tax benefits and the related interest were $43.1 million and $2.3 million, respectively, all of which would affect the tax rate if recognized. During the three months ended December 31, 2014, the change in tax reserves on uncertain tax positions was a decrease of $(0.5) million and the related interest did not change. During the six months ended December 31, 2014, the change in tax reserves on uncertain tax positions was a decrease of $(1.1) million and the related interest did not change.