Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

v2.4.1.9
Income Taxes
9 Months Ended
Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes
NOTE 11 – INCOME TAXES
The following table provides details of income taxes:

Three months ended
March 31,
Nine months ended
March 31,
(Dollar amounts in thousands)
2015
2014
2015
2014
Income before income taxes
$
166,454

$
251,246

$
259,193

$
567,855

箴言ision for income taxes
$
34,816

$
47,665

$
35,054

$
113,831

Effective tax rate
20.9
%
19.0
%
13.5
%
20.0
%

The Company’s estimated annual effective tax rate for the fiscal year ending June 30, 2015 is forecasted to be approximately 17% after considering the tax benefit on the pre-tax net loss of $131.7 million due to the redemption of the 2018 Senior Notes. The Company estimates an effective tax rate of approximately 22% for the remainder of the fiscal year ending June 30, 2015 .
实际的税收费用duri之间的区别ng the three months ended March 31, 2015 and the estimated annual tax expense is primarily due to the impact of the following items:
Tax expense was decreased by $2.1 million during the three months ended March 31, 2015 related to a non-taxable increase in the value of the assets held within the Company’s Executive Deferred Savings Plan; and
Tax expense was decreased by $3.8 million during the three months ended March 31, 2015 related to the tax effect of an intercompany dividend.
Tax expense was higher as a percentage of income before taxes during the three months ended March 31, 2015 compared to the three months ended March 31, 2014 primarily due to the impact of the following items:
Tax expense was decreased by $5.5 million during the three months ended March 31, 2014 related to a decrease in the Company’s unrecognized tax benefits from the expiration of the statute of limitations; and
Tax expense was decreased by $2.1 million during the three months ended March 31, 2014 related to an increase in the proportion of the Company’s earnings generated in jurisdictions with tax rates lower than the U.S. statutory rate; offset by
Tax expense was decreased by $1.3 million during the three months ended March 31, 2015 related to a non-taxable increase in the value of the assets held within the Company’s Executive Deferred Savings Plan; and
Tax expense was decreased by $3.8 million during the three months ended March 31, 2015 related to the tax effect of an intercompany dividend.
Tax expense was lower as a percentage of income before taxes during the nine months ended March 31, 2015 compared to the nine months ended March 31, 2014 , primarily due to the impact of the following items:
Tax expense was decreased by $45.2 million during the nine months ended March 31, 2015 related to a pre-tax net loss of $131.7 million due to the redemption of the 2018 Senior Notes; offset by
Tax expense was decreased by $5.5 million during the nine months ended March 31, 2014 related to a decrease in the Company’s unrecognized tax benefits from the expiration of the statute of limitations;
Tax expense was decreased by 320万美元 during the nine months ended March 31, 2014 related to a non-taxable increase in the value of the assets held within the Company’s Executive Deferred Savings Plan; and
Tax expense was decreased by $4.9 million during the nine months ended March 31, 2014 related to an increase in the proportion of the Company’s earnings generated in jurisdictions with tax rates lower than the U.S. statutory rate;

In the normal course of business, the Company is subject to examination by tax authorities throughout the world. The Company is subject to U.S. federal income tax examination for all years beginning from the fiscal year ended June 30, 2011. The Company is subject to state income tax examinations for all years beginning from the fiscal year ended June 30, 2010. The Company is also subject to examinations in other major foreign jurisdictions, including Singapore, for all years beginning from the fiscal year ended June 30, 2010. It is possible that certain examinations may be concluded in the next twelve months. The Company believes it is possible that it may recognize up to $22.9 million of its existing unrecognized tax benefits within the next twelve months as a result of the lapse of statutes of limitations and the resolution of examinations with various tax authorities.
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