Income Taxes (Tables)

9 Months Ended

Mar. 31, 2015

The Company’s provision/(benefit) for income taxes from continuing operations is summarized as follows:

	Three months ended March 31,						Nine months ended March 31,
	2015			2014			2015			2014
Current income taxes
Federal	$	(1.7	)	$	—		$	1.4		$	—
State		2.7			—			4.5			2.1
Foreign		—			—			0.8			—
Total		1.0		—				6.7			2.1

Deferred income taxes
Federal		(15.7	)		14.0			(14.7	)		27.0
State		(5.2	)		(5.8	)		(6.4	)		(6.1	)
Foreign		1.5			1.3			1.0			4.2
Total		(19.4	)		9.5			(20.1	)		25.1
Total (benefit)/provision for income taxes	$	(18.4	)	$	9.5		$	(13.4	)	$	27.2

Schedule of Income before Income Tax

The United States and foreign components of income/(loss) from continuing operations before income taxes for the three and nine months ended March 31, 2015 and 2014 are as follows:

	Three months ended March 31,						Nine months ended March 31,
	2015			2014			2015			2014
United States	$	(76.9	)	$	(22.2	)	$	(169.4	)	$	(78.6	)
Foreign		4.8			(11.0	)		(4.4	)		(3.6	)
Total	$	(72.1	)	$	(33.2	)	$	(173.8	)	$	(82.2	)

Schedule Of Reconciliation Of Income Tax Provision

Reconciliations 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, 2015 and 2014 are as follows:

	Three months ended March 31,						Nine months ended March 31,
	2015			2014			2015			2014
Expected benefit at statutory rate	$	(25.3	)	$	(11.5	)	$	(60.9	)	$	(28.5	)
Increase due to:
Non-deductible stock-based compensation		8.8			23.4			51.0			62.9
State income taxes (benefit)/provision, net of federal benefit		(3.8	)		(1.1	)		(8.3	)		(3.9	)
Transaction costs not deductible for tax purposes		0.3			0.1			0.6			0.2
Foreign tax rate differential		(0.1	)		1.0			0.7			(0.1	)
Release of accrual for uncertain tax position		—			(0.9	)		—			(2.6	)
Other, net		1.7			(1.5	)		3.5			(0.8	)
(Benefit)/provision for income taxes	$	(18.4	)	$	9.5		$	(13.4	)	$	27.2