Income Taxes (Tables)

9 Months Ended

Mar. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The Company’s provision for income taxes from operations is summarized as follows:

	Three months ended  March 31,				Nine months ended March 31,
	2016		2015		2016		2015
Current Income Taxes	(in millions)
Federal	$	0.1	$	(1.7)	$	0.9	$	1.4
State		2.1		2.7		5.6		4.5
Foreign		(0.4)		—		0.8		0.8
Total	$	1.8	$	1.0	$	7.3	$	6.7
Deferred Income Taxes
Federal	$	4.7	$	(15.7)	$	14.6	$	(14.7)
State		1.2		(5.2)		(1.0)		(6.4)
Foreign		0.1		1.5		0.7		1.0
Total		6.0		(19.4)		14.3		(20.1)
Total provision/(benefit) for income taxes	$	7.8	$	(18.4)	$	21.6	$	(13.4)

Schedule of Income before Income Tax

The United States and foreign components of loss from operations before income taxes for the three and nine months ended March 31, 2016 and 2015 are as follows:

	Three months ended  March 31,				Nine months ended March 31,
	2016		2015		2016		2015
	(in millions)
United States	$	(3.5)	$	(76.9)	$	(15.6)	$	(169.4)
Foreign		(8.0)		4.8		(8.1)		(4.4)
Total	$	(11.5)	$	(72.1)	$	(23.7)	$	(173.8)

Schedule of Reconciliation of Income Tax Provision

A reconciliation of the actual income tax provision and the tax computed by applying the U.S. federal rate to the earnings before income taxes during the three and nine-month periods ended March 31, 2016 and 2015 is as follows:

	Three months ended  March 31,				Nine months ended March 31,
	2016		2015		2016		2015
	(in millions)
Expected benefit at the statutory rate	$	(3.9)	$	(25.3)	$	(8.2)	$	(60.9)
Increase/(decrease) due to:
Non-deductible stock-based compensation		5.2		8.8		22.6		51.0
State income taxes benefit, net of federal benefit		(0.2)		(3.8)		(0.7)		(8.3)
Transactions costs not deductible for tax purposes		0.6		0.3		1.1		0.6
Foreign tax rate differential		0.5		(0.1)		0.8		0.7
Other, net		5.6		1.7		6.0		3.5
Provision/(benefit) for income taxes	$	7.8	$	(18.4)	$	21.6	$	(13.4)