INCOME TAXES (Tables)

6 Months Ended

Dec. 31, 2017

INCOME TAXES

Schedule of Reconciliation of Income Tax Provision

	Three months ended December 31,				Six months ended December 31,
	2017		2016		2017			2016
	(in millions)
Expected provision at the statutory rate	$	7.6	$	7.1	$	17.6	$	14.8
Increase/(decrease) due to:
State income tax expense, net of federal benefit		0.9		0.8		1.5		1.5
Stock-based compensation		1.0		(2.9)		2.5		0.4
Transactions costs not deductible for tax purposes		0.1		0.2		0.2		0.3
Change in statutory tax rate, non-U.S.		0.8		—		0.8		(1.7)
Foreign tax rate differential		0.5		0.4		(1.7)		(0.3)
Change in valuation allowance		(25.7)		(4.4)		(31.4)		(6.7)
U.S. Tax Reform		44.1		—		44.1		—
Other, net		(6.4)		(1.0)		(5.3)		(1.5)
Provision for income taxes	$	22.9	$	0.2	$	28.3	$	6.8

Schedule Provisional amounts recognized for income taxes

Provisional amounts recognized due to the U.S. Tax Reform for the three and six months ended December 31, 2017:

	Tax Expense		Deferred Tax Liability		Current Tax Receivable
	(in millions)
Change in statutory tax rate, U.S. only (AMT credit is now refundable)	$	1.4	$	11.4	$	10.0
Changes to indefinite reinvestment assertion		7.9		7.9
Repatriation Tax (offset against net operating loss carryforwards, non-cash)		34.8		34.8
Net discrete impacts of the enactment of U.S. Tax Reform	$	44.1	$	54.1	$	10.0

Schedule of statutory tax rate for determining provision for tax table text block

	Fiscal 2017		Fiscal 2018		Fiscal 2019
Tax Rates
Federal Rate		35%		28%		21%
Blended Federal & State Rate		39%		33%		26%