Income Taxes (Tables)

12 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income before income taxes was derived from the following sources:

	2014		2013		2012
United States	$	1,115,010	$	653,622	$	810,150
Foreign	441,710		657,379		766,548
	$	1,556,720	$	1,311,001	$	1,576,698

Schedule of Components of Income Tax Expense (Benefit)

Income taxes include the following:

	2014			2013			2012
Federal
Current	$	377,404		$	167,350		$	255,991
Deferred	(45,643		)	26,523			(48,252		)
Foreign
Current	168,177			176,739			191,167
Deferred	(28,016		)	(28,472		)	(29		)
State and local
Current	43,860			19,496			30,500
Deferred	(480		)	581			(8,171		)
	$	515,302		$	362,217		$	421,206

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the Company's effective income tax rate to the statutory Federal rate follows:

	2014		2013		2012
Statutory Federal income tax rate	35.0	%	35.0	%	35.0	%
State and local income taxes	1.8		1.0		0.9
Goodwill and intangible asset impairment	4.5		—		—
Tax related to international activities	(5.6	)	(5.8	)	(5.8	)
Cash surrender value of life insurance	(0.9	)	(0.7	)	0.1
Federal manufacturing deduction	(1.0	)	(1.0	)	(1.6	)
Research tax credit	(0.3	)	(1.1	)	(0.4	)
Other	(0.4	)	0.2		(1.5	)
Effective income tax rate	33.1	%	27.6	%	26.7	%

Schedule of Deferred Tax Assets and Liabilities

The differences comprising the net deferred taxes shown on the Consolidated Balance Sheet at June 30 were as follows:

	2014			2013
Retirement benefits	$	550,034		$	535,260
Other liabilities and reserves	128,848			113,257
Long-term contracts	46,006			26,714
Stock-based incentive compensation	64,267			59,274
Loss carryforwards	340,676			286,180
Unrealized currency exchange gains and losses	25,182			14,639
Inventory	18,668			15,570
Foreign tax credit carryforward	51,875			25,195
Depreciation and amortization	(571,107		)	(527,860		)
Valuation allowance	(348,837		)	(273,413		)
Net deferred tax asset	$	305,612		$	274,816
Change in net deferred tax asset:
Provision for deferred tax	$	74,139		$	1,368
Items of other comprehensive (loss)	(49,882		)	(194,746		)
Acquisitions and other	6,539			(81,067		)
Total change in net deferred tax	$	30,796		$	(274,445	)

Summary of Income Tax Contingencies

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2014			2013			2012
Balance July 1	$	107,440		$	109,735		$	81,156
Additions for tax positions related to current year	7,752			10,285			66,500
Additions for tax positions of prior years	55,136			10,719			11,047
Reductions for tax positions of prior years	(1,359		)	(20,683		)	(23,456		)
Reductions for settlements	(1,856		)	(4,266		)	(23,434		)
Reductions for expiration of statute of limitations	(5,005		)	(437		)	(1,636		)
Effect of foreign currency translation	2,705			2,087			(442		)
Balance June 30	$	164,813		$	107,440		$	109,735