Restatement of Previously Issued Financial Statements (Tables)

9 Months Ended

Mar. 31, 2018

Accounting Changes and Error Corrections [Abstract]

Schedule of restated amounts for each condensed consolidated financial statement

The table below sets forth the condensed consolidated balance sheet, including the balances originally reported, corrections and the as restated balances for March 31, 2018 (in thousands):

	As Reported			Adjustment			As Restated
Assets
Deferred income tax asset, net	$	70,089		$	(70,089	)	$	-
Total assets		831,280			(70,089	)		761,191
Liabilities and Shareholders’ Equity
Deferred income tax liability		-			1,261			1,261
Total liabilities		627,898			1,261			629,159
Retained deficit		(20,354	)		(71,350	)		(91,704	)
Total shareholders’ equity		203,382			(71,350	)		132,032
Total liabilities and shareholders’ equity	$	831,280		$	(70,089	)	$	761,191

The tables below set forth the condensed consolidated statements of loss, including the balances originally reported, corrections and the as restated balances for the three and nine months ended March 31, 2018 (in thousands, except per share data):

	As Reported			Adjustment			As Restated
Three months ended March 31, 2018
Income tax (benefit) provision	$	(66,402	)	$	71,350		$	4,948
Net loss	$	(196,635	)	$	(71,350	)	$	(267,985	)
Basic loss per common share	$	(5.57	)	$	(2.02	)	$	(7.59	)
Diluted loss per common share	$	(5.57	)	$	(2.02	)	$	(7.59	)

	As Reported			Adjustment			As Restated
Nine months ended March 31, 2018
Income tax (benefit) provision	$	(51,353	)	$	71,350		$	19,997
Net loss	$	(210,045	)	$	(71,350	)	$	(281,395	)
Basic loss per common share	$	(5.97	)	$	(2.03	)	$	(8.00	)
Diluted loss per common share	$	(5.97	)	$	(2.03	)	$	(8.00	)

The tables below set forth the condensed consolidated statements of comprehensive income, including the balances originally reported, corrections and the as restated balances for the three and nine months ended March 31, 2018 (in thousands):

	As Reported			Adjustment			As Restated
Three months ended March 31, 2018
Net loss	$	(196,635	)	$	(71,350	)	$	(267,985	)
Comprehensive loss	$	(193,556	)	$	(71,350	)	$	(264,906	)

	As Reported			Adjustment			As Restated
Nine months ended March 31, 2018
Net loss	$	(210,045	)	$	(71,350	)	$	(281,395	)
Comprehensive loss	$	(202,758	)	$	(71,350	)	$	(274,108	)

The table below sets forth the condensed consolidated statements of cash flows from operating activities, including the balances originally reported, corrections and the as restated balances for the nine months ended March 31, 2018 (in thousands):

	As Reported			Adjustment			As Restated
Nine months ended March 31, 2018
Net loss	$	(210,045	)	$	(71,350	)	$	(281,395	)
Deferred income taxes		(80,207	)		91,921			11,714
Accrued expenses and other liabilities		30,299			(20,571	)		9,728
Net cash provided by operating activities		56,415			-			56,415