Income Taxes (Tables)

12 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income before income taxes was derived from the following sources:

	2016		2015		2014
United States	$	672,907	$	779,782	$	1,115,010
Foreign	441,821		652,458		441,710
	$	1,114,728	$	1,432,240	$	1,556,720

Schedule of Components of Income Tax Expense (Benefit)

Income taxes include the following:

	2016			2015			2014
Federal
Current	$	235,557		$	185,761		$	377,404
Deferred	(45,797		)	28,108			(45,643		)
Foreign
Current	113,146			189,826			168,177
Deferred	(7,006		)	(11,208		)	(28,016		)
State and local
Current	24,495			25,235			43,860
Deferred	(12,883		)	1,965			(480		)
	$	307,512		$	419,687		$	515,302

Schedule of Effective Income Tax Rate Reconciliation

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

	2016		2015		2014
Statutory Federal income tax rate	35.0	%	35.0	%	35.0	%
State and local income taxes	0.6		1.1		1.8
Goodwill and intangible asset impairment	—		—		4.5
Tax related to international activities	(5.2	)	(4.5	)	(5.6	)
Cash surrender value of life insurance	0.2		(0.1	)	(0.9	)
Federal manufacturing deduction	(1.0	)	(1.6	)	(1.0	)
Research tax credit	(1.9	)	(0.8	)	(0.3	)
Other	(0.1	)	0.2		(0.4	)
Effective income tax rate	27.6	%	29.3	%	33.1	%

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:

	2016			2015
Retirement benefits	$	815,545		$	614,127
Other liabilities and reserves	126,524			127,838
Long-term contracts	64,371			49,929
Stock-based incentive compensation	67,138			66,015
Loss carryforwards	326,707			316,994
Unrealized currency exchange gains and losses	(19,491		)	(17,218		)
Inventory	14,693			16,659
Foreign tax credit carryforward	24,051			29,965
Depreciation and amortization	(536,070		)	(531,258		)
Valuation allowance	(332,708		)	(330,006		)
Net deferred tax asset	$	550,760		$	343,045
Change in net deferred tax asset:
Provision for deferred tax	$	65,686		$	(18,865	)
Items of other comprehensive (loss)	149,861			57,523
Acquisitions and other	(7,832		)	(1,225		)
Total change in net deferred tax	$	207,715		$	37,433

Reconciliation of unrecognized tax benefits

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

	2016			2015			2014
Balance July 1	$	145,688		$	164,813		$	107,440
Additions for tax positions related to current year	7,025			6,090			7,752
Additions for tax positions of prior years	2,582			14,989			55,136
Reductions for tax positions of prior years	(627		)	(6,945		)	(1,359		)
Reductions for settlements	(10,284		)	—			(1,856		)
Reductions for expiration of statute of limitations	(4,142		)	(6,251		)	(5,005		)
Effect of foreign currency translation	(335		)	(27,008		)	2,705
Balance June 30	$	139,907		$	145,688		$	164,813