Income Taxes (Tables)

12 Months Ended

Jun. 30, 2015

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

	Year Ended June 30,
	2015			2014			2013
Current Income Taxes
Federal	$	1.7		$	6.2		$	—
State		4.4			3.6			1.7
Foreign		(1.6	)		3.3		—
Total	$	4.5		$	13.1		$	1.7
Deferred Income Taxes
Federal	$	(8.7	)	$	23.8		$	(25.7	)
State		(6.9	)		1.0			(3.7	)
Foreign		2.3			(0.6	)		3.5
Total		(13.3	)		24.2			(25.9	)
Total (benefit)/provision for income taxes	$	(8.8	)	$	37.3		$	(24.2	)

Schedule of Income before Income Tax

The United States and foreign components of (loss)/benefit from continuing operations before income taxes are as follows (in millions):

	Year Ended June 30,
	2015			2014			2013
United States	$	(159.7	)	$	(135.3	)	$	(185.6	)
Foreign	$	(4.4	)	$	(9.0	)	$	15.8
Total	$	(164.1	)	$	(144.3	)	$	(169.8	)

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 years ended June 30, 2015, 2014 and 2013 are as follows (in millions):

	Year ended June 30,
	2015			2014			2013
Expected benefit/provision at the statutory rate	$	(57.4	)	$	(50.5	)	$	(59.5	)
Increase/(decrease) due to:
Non-deductible stock-based compensation		59.4			96.5			35.9
State income taxes benefit, net of federal benefit		(7.4	)		(6.6	)		(2.2	)
Transactions costs not deductible for tax purposes		0.7			0.8			1.3
Reversal of uncertain tax positions, net	—				(2.6	)	—
State NOL adjustment	—			—				2.8
Change in effective tax rate		(2.2	)		(0.3	)	—
Change in valuation allowance	—				1.3		—
Foreign tax rate differential		0.6			1.0			(2.3	)
Other, net		(2.5	)		(2.3	)		(0.2	)
(Benefit)/provision for income taxes	$	(8.8	)	$	37.3		$	(24.2	)

Schedule of Deferred Tax Assets and Liabilities

Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows (millions):

	June 30,
	2015			2014
Deferred income tax assets
Net operating loss carry forwards	$	448.7		$	431.9
Alternate minimum tax credit carryforwards		8.7			6.8
Deferred revenue		243.5			190.7
Accrued expenses		27.9			22.4
Other liabilities		14.4			7.6
Reserves against accounts receivable		10.2			6.4
Other		17.4			2.1
Total deferred income tax assets		770.8			667.9
Valuation allowance		(1.1	)		(2.2	)
Net deferred tax assets		769.7			665.7
Deferred income tax liabilities
Property and equipment		468.9			374.4
Intangible assets		327.2			239.3
Debt issuance costs		18.8			27.2
Total deferred income tax liabilities		814.9			640.9
Net deferred income tax assets/(liabilities)	$	(45.2	)	$	24.8

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, is as follows (in millions):

	Year Ended June 30, 2014
Balance, beginning of year	$	6.4
Decreases		(6.4	)
Balance, end of year	$	—