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Income Taxes
6 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes

The effective tax rate for the three months ended December 31, 2016 and 2015 was 35.0% and 32.8%, respectively. The increase in the effective tax rate is due to the impact of the sale of the CHSA and COBRA businesses, a lower benefit related to the usage of foreign tax credits compared to the three months ended December 31, 2015, and the reversal of a valuation allowance during the three months ended December 31, 2015. These increases were partially offset by the adoption of ASU 2016-09 related to the new accounting guidance for excess tax benefits on stock-based compensation (as further explained in Note 2), which decreased the Company's effective tax rate by 60 basis points and adjustments to the tax liability in the three months ended December 31, 2016.

The effective tax rate for the six months ended December 31, 2016 and 2015 was 33.1% and 33.0%, respectively. The increase in the effective tax rate is due to the impact of the sale of the CHSA and COBRA businesses, a lower benefit related to the usage of foreign tax credits compared to the six months ended December 31, 2015, and the reversal of a valuation allowance during the six months ended December 31, 2015. These increases were partially offset by the adoption of ASU 2016-09 related to the new accounting guidance for excess tax benefits on stock-based compensation (as further explained in Note 2), which decreased the Company's effective tax rate by 150 basis points and adjustments to the tax liability in the six months ended December 31, 2016.