Income Taxes (Tables)

12 Months Ended

Jun. 30, 2015

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income before income taxes was derived from the following sources:

	2015		2014		2013
United States	$	779,782	$	1,115,010	$	653,622
Foreign	652,458		441,710		657,379
	$	1,432,240	$	1,556,720	$	1,311,001

Schedule of Components of Income Tax Expense (Benefit)

Income taxes include the following:

	2015			2014			2013
Federal
Current	$	185,761		$	377,404		$	167,350
Deferred	28,108			(45,643		)	26,523
Foreign
Current	189,826			168,177			176,739
Deferred	(11,208		)	(28,016		)	(28,472		)
State and local
Current	25,235			43,860			19,496
Deferred	1,965			(480		)	581
	$	419,687		$	515,302		$	362,217

Schedule of Effective Income Tax Rate Reconciliation

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

	2015		2014		2013
Statutory Federal income tax rate	35.0	%	35.0	%	35.0	%
State and local income taxes	1.1		1.8		1.0
Goodwill and intangible asset impairment	—		4.5		—
Tax related to international activities	(4.5	)	(5.6	)	(5.8	)
Cash surrender value of life insurance	(0.1	)	(0.9	)	(0.7	)
Federal manufacturing deduction	(1.6	)	(1.0	)	(1.0	)
Research tax credit	(0.8	)	(0.3	)	(1.1	)
Other	0.2		(0.4	)	0.2
Effective income tax rate	29.3	%	33.1	%	27.6	%

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:

	2015			2014
Retirement benefits	$	614,127		$	550,034
Other liabilities and reserves	127,838			128,848
Long-term contracts	49,929			46,006
Stock-based incentive compensation	66,015			64,267
Loss carryforwards	316,994			340,676
Unrealized currency exchange gains and losses	(17,218		)	25,182
Inventory	16,659			18,668
Foreign tax credit carryforward	29,965			51,875
Depreciation and amortization	(531,258		)	(571,107		)
Valuation allowance	(330,006		)	(348,837		)
Net deferred tax asset	$	343,045		$	305,612
Change in net deferred tax asset:
Provision for deferred tax	$	(18,865	)	$	74,139
Items of other comprehensive (loss)	57,523			(49,882		)
Acquisitions and other	(1,225		)	6,539
Total change in net deferred tax	$	37,433		$	30,796

Reconciliation of unrecognized tax benefits

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

	2015			2014			2013
Balance July 1	$	164,813		$	107,440		$	109,735
Additions for tax positions related to current year	6,090			7,752			10,285
Additions for tax positions of prior years	14,989			55,136			10,719
Reductions for tax positions of prior years	(6,945		)	(1,359		)	(20,683		)
Reductions for settlements	—			(1,856		)	(4,266		)
Reductions for expiration of statute of limitations	(6,251		)	(5,005		)	(437		)
Effect of foreign currency translation	(27,008		)	2,705			2,087
Balance June 30	$	145,688		$	164,813		$	107,440