Income Taxes (Tables)

12 Months Ended

Jun. 30, 2016

Income Taxes

Schedule of provision for income taxes

(In thousands)	June 30, 2016			June 30, 2015			June 30, 2014
Current Income Tax Expense
Federal	$	34,932		$	80,124		$	41,497
State and Local	1,887			572			4,246
Total Current Income Tax Expense	36,819			80,696			45,743
Deferred Income Tax Expense (Benefit)
Federal	(17,529		)	(5,245		)	(11,613		)
State and Local	(1,968		)	1,979			(1,273		)
Total Deferred Income Tax Benefit	(19,497		)	(3,266		)	(12,886		)
Total Income Tax Expense	$	17,322		$	77,430		$	32,857

Schedule of reconciliation of the differences between the effective rates and federal statutory rates

	June 30, 2016		June 30, 2015		June 30, 2014
Federal income tax at statutory rate	35.0	%	35.0	%	35.0	%
State and local income tax, net	(0.1	)%	0.1	%	2.2	%
Nondeductible expenses	0.8	%	—	%	0.4	%
Foreign rate differential	0.5	%	0.1	%	0.2	%
Income tax credits	(3.0	)%	(0.4	)%	(0.4	)%
Domestic production activity deduction	(5.2	)%	(1.3	)%	(0.5	)%
Change in tax laws	—	%	0.6	%	—	%
Other	(0.1	)%	(0.1	)%	(0.4	)%
Effective income tax rate	27.9	%	34.0	%	36.5	%

Schedule of differences which give rise to deferred tax assets and liabilities.

(In thousands)	June 30, 2016			June 30, 2015
Deferred tax assets:
Accrued expenses	$	1,636		$	98
Share-based compensation expense	5,074			2,688
Reserve for returns	14,583			6,520
Reserves for rebates	19,235			6,648
Reserves for accounts receivable and inventory	6,305			3,790
Intangible impairment	3,312			4,342
Federal net operating loss	736			801
State net operating loss	1,469			—
Impairment on Cody note receivable	1,941			1,905
Accumulated amortization on intangible assets	5,301			8,526
Settlement Liability	7,014			—
Foreign net operating loss	579			421
Other	901			185
Total deferred tax asset	68,086			35,924
Valuation allowance	(3,927		)	(2,326		)
Total deferred tax asset less valuation allowance	64,159			33,598
Deferred tax liabilities:
Prepaid expenses	263			115
Property, plant and equipment	11,381			4,687
Other	67			31
Total deferred tax liability	11,711			4,833
Net deferred tax asset	$	52,448		$	28,765

Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits

(In thousands)	Balance
Balance at June 30, 2014	$	428
Additions for tax positions of the current year	101
Additions for tax positions of prior years	305
Reductions for tax positions of prior years	—
Settlements	—
Lapse of statute of limitations	(256		)
Balance at June 30, 2015	$	578
Additions for tax positions of the current year	742
Additions for tax positions of prior years	109
Additions from acquisitions	4,858
Reductions for tax positions of prior years	—
Settlements	—
Lapse of statute of limitations	(43		)
Balance at June 30, 2016	$	6,244