Income Taxes (Tables)

12 Months Ended

Jun. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The following table shows income tax expense (benefit) attributable to earnings (loss) from continuing operations before income taxes:

Years ended June 30,	2021		2020		2019
(In millions)
Current
Federal	$	77.3	$	18.7	$	(29.8)
State	16.9		7.9		(2.8)
Foreign	1.2		1.1		0.6
	95.4		27.7		(32.0)
Deferred
Federal	(6.5)		(42.6)		42.0
State	(2.0)		(17.5)		1.6
Foreign	0.1		0.2		(0.1)
	(8.4)		(59.9)		43.5
Income tax expense (benefit)	$	87.0	$	(32.2)	$	11.5

Schedule of Effective Income Tax Rate Reconciliation

The differences between the statutory U.S. federal income tax rate and the effective tax rate were as follows:

Years ended June 30,	2021		2020		2019
U.S. statutory tax rate	21.0	%	21.0	%	21.0	%
State income taxes, less federal income tax benefits	2.9		2.8		(0.7)
Foreign operations	0.2		(0.5)		(13.3)
Rate change	—		0.1		(0.1)
Settlements - audits / tax litigation	(4.9)		(0.4)		(2.5)
Transaction costs	1.2		—		—
Nondeductible compensation	1.2		(1.1)		3.7
Tax credits	(0.3)		3.7		—
Goodwill impairment	—		(12.8)		—
Other	0.8		0.5		0.1
Effective income tax rate	22.1	%	13.3	%	8.2	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that gave rise to deferred tax assets and deferred tax liabilities were as follows:

June 30,	2021		2020
(In millions)
Deferred tax assets
Accounts receivable allowances and return reserves	$	25.0	$	29.7
Compensation and benefits	—		0.7
Indirect benefit of uncertain state and foreign tax positions	5.8		6.3
Investment in partnerships	1.0		6.8
Tax loss carryforwards	47.4		43.3
Lease liabilities	117.3		126.5
All other assets	14.2		17.7
Total deferred tax assets	210.7		231.0
Valuation allowance	(17.5)		(17.2)
Net deferred tax assets	193.2		213.8
Deferred tax liabilities
Subscription acquisition costs	55.1		62.0
Compensation and benefits	7.4		—
Accumulated depreciation and amortization	482.8		494.3
Deferred gains from dispositions	15.0		15.8
Lease right-of-use assets	92.6		101.6
All other liabilities	2.7		3.7
Total deferred tax liabilities	655.6		677.4
Net deferred tax liability	$	462.4	$	463.6

Summary of Income Tax Contingencies

A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:

Years ended June 30,	2021		2020
(In millions)
Balance at beginning of year	$	49.4	$	53.7
Increases in tax positions for prior years	0.7		3.3
Decreases in tax positions for prior years	(0.4)		(0.1)
Increases in tax positions for current year	2.3		1.9
Settlements	(0.2)		0.1
Lapse in statute of limitations	(18.6)		(9.5)
Balance at end of year	$	33.2	$	49.4