INCOME TAXES:

A summary of income tax (expense) benefit and corresponding effective tax rates is as follows:



	For the Three Months Ended March 31,						For the Nine Months Ended March 31,
	2019			2018			2019			2018
	(Dollars in thousands)
Income tax (expense) benefit	$	(3,248	)	$	2,609		$	(2,988	)	$	77,875
Effective tax rate	(28.1		%)	(267.3		%)	(25.2		%)	327.9		%

The recorded tax provisions and effective tax rates for the three and nine months ended March 31, 2019 and three and nine months ended March 31, 2018 were different than what would normally be expected primarily due to the impact of tax legislation commonly referred to as the Tax Cuts and Jobs Act, state conformity of the new federal provisions and the deferred tax valuation allowance. The majority of the tax provision in periods ended prior to December 31, 2017 related to non-cash tax expense for tax benefits on certain indefinite-lived assets that the Company could not recognize for reporting purposes.

The Company is no longer subject to IRS examinations for years before 2013. Furthermore, with limited exceptions, the Company is no longer subject to state and international income tax examinations by tax authorities for years before 2012.