Income Taxes

9 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The provision for income taxes for the three and nine months ended March 31, 2020 was $43.6 million and $52.0 million, respectively, compared to $51.4 million and $78.4 million for the three and nine months ended March 31, 2019, respectively.

The effective tax rate for the three and nine months ended March 31, 2020 was 20.7% and 18.3%, respectively, compared to 23.0% and 20.8% for the three and nine months ended March 31, 2019, respectively.

The decrease in the effective tax rate for the three months ended March 31, 2020 was primarily driven by higher discrete tax benefits. Excess tax benefit for the three months ended March 31, 2020 was $1.9 million compared to $1.3 million for the three months ended March 31, 2019.

The decrease in the effective tax rate for the nine months ended March 31, 2020 was primarily driven by higher discrete tax benefits. Excess tax benefit for the nine months ended March 31, 2020 was $9.9 million compared to $9.2 million for the nine months ended March 31, 2019.