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Income Taxes (Tables)
9 Months Ended
Mar. 31, 2017
Income Taxes [Abstract]  
Schedule of Reconciliation of Income Tax Provision

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended March 31,

 

Nine months ended March 31,

 

    

2017

    

2016

    

2017

    

2016

 

 

(in millions)

Expected expense/(benefit) at the statutory rate

 

$

9.6

 

$

(3.9)

 

$

24.4

 

$

(8.2)

Increase/(decrease) due to:

 

 

 

 

 

 

 

 

 

 

 

 

Non-deductible stock-based compensation

 

 

 —

 

 

5.2

 

 

4.0

 

 

22.6

Excess tax benefit on stock-based compensation

 

 

(13.1)

 

 

 —

 

 

(16.7)

 

 

 —

State income taxes benefit, net of federal benefit

 

 

0.6

 

 

(0.2)

 

 

2.1

 

 

(0.7)

Transactions costs not deductible for tax purposes

 

 

1.5

 

 

0.6

 

 

1.8

 

 

1.1

Change in tax rates

 

 

 —

 

 

 —

 

 

(1.7)

 

 

 —

Foreign tax rate differential

 

 

(1.8)

 

 

0.5

 

 

(2.1)

 

 

0.8

Foreign entities with valuation allowance

 

 

(2.0)

 

 

 —

 

 

(8.7)

 

 

 —

Other, net

 

 

5.8

 

 

5.6

 

 

4.3

 

 

6.0

Provision/(benefit) for income taxes

 

$

0.6

 

$

7.8

 

$

7.4

 

$

21.6