Discontinued Operations

3 Months Ended

Sep. 30, 2012

Discontinued Operations [Abstract]

Discontinued Operations

Note 6. Discontinued Operations

The Company is pursuing strategic alternatives for its Taxware Enterprise Service business, which provides tax content and compliance solutions for sales, use, and value added tax. During the three months endedSeptember 30, 2012, the Company concluded that the assets and liabilities, along with the results of operations and cash flows, of the disposal group should be classified as discontinued operations in the Statements of Consolidated Earnings, Statements of Consolidated Comprehensive Income and Statements of Consolidated Cash Flows. The assets and liabilities are carried on the Consolidated Balance Sheet at September 30, 2012, at their carrying amount. As management expects to sell the disposal group at an amount, net of costs to sell, that is greater than its carrying value, no impairment charge was recorded during the three months endedSeptember 30, 2012.

Operating results for discontinued operations were as follows:

	Three Months Ended
	September 30,
	2012		2011
Revenues	$	12.9	$	11.6
Earnings from discontinued operations before income taxes	4.5		3.6
Provision for income taxes	1.7		1.3
Net earnings from discontinued operations	$	2.8	$	2.3

The following table details the assets and liabilities within the disposal group, which are classified as discontinued operations in the consolidated balance sheet as of September 30, 2012:

	September 30,		June 30,
	2012		2012
Assets:
Accounts receivable, net	$	8.7	$	7.6
Goodwill	93.3		93.3
Intangible assets, net	22.0		22.9
Other assets	1.7		1.2
Total assets	$	125.7	$	125.0
Liabilities:
Accounts payable	$	0.2	$	0.4
Accrued expenses and other current liabilities	2.1		0.1
Accrued payroll and payroll related expenses	1.4		2.3
Deferred revenues	22.6		22.7
Deferred income taxes	3.4		3.5
Total liabilities	$	29.7	$	29.0