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Income Taxes
9 Months Ended
Mar. 31, 2017
Income Tax Disclosure [Abstract]  
Income Taxes
INCOME TAXES
The provision for income taxes for the three and nine months ended March 31, 2017 were $30.4 million, and $63.8 million, compared to $29.7 million, and $68.9 million for the three and nine months ended March 31, 2016, respectively.
    
The effective tax rate for the three months ended March 31, 2017 and 2016 was 28.6% and 31.8%, respectively. The effective tax rate for the three months ended March 31, 2017 was impacted by the recognition of the non-cash, nontaxable $9.3 million MAL investment gain. Relative to the prior period, the effective tax rate also declined as a result of a higher number of discrete items recognized in the quarter ended March 31, 2017.

The effective tax rate for the nine months ended March 31, 2017 and 2016 was 31.4% and 33.4%, respectively. Similar to the decrease in the effective tax rate for the three month period, the effective tax rate for the nine months ended March 31, 2017 was impacted by the recognition of the non-cash, nontaxable $9.3 million MAL investment gain. Relative to the prior period, the effective tax rate also declined as a result of a higher number of discrete items recognized in the quarter ended March 31, 2017.