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Income Taxes (Tables)
 12 Months Ended
Jun. 30, 2017
Income Tax Disclosure [Abstract]  
Income before income taxes
Income before income taxes was derived from the following sources:

 
2017

 
2016

 
2015

United States
$
722,925

 
$
672,907

 
$
779,782

Foreign
605,716

 
441,821

 
652,458

 
$
1,328,641

 
$
1,114,728

 
$
1,432,240
Income Taxes
Income taxes include the following:
 
2017

 
2016

 
2015

Federal
 
 
 
 
 
  Current
$
132,420

 
$
235,557

 
$
185,761

  Deferred
37,316

 
(45,797
)
 
28,108

Foreign
 
 
 
 
 
  Current
157,518

 
113,146

 
189,826

  Deferred
(5,319
)
 
(7,006
)
 
(11,208
)
State and local
 
 
 
 
 
  Current
17,835

 
24,495

 
25,235

  Deferred
5,027

 
(12,883
)
 
1,965

 
$
344,797

 
$
307,512

 
$
419,687
Effective income tax rate reconciliation to statutory federal rate

A reconciliation of the Company's effective income tax rate to the statutory Federal rate follows:
 
2017

 
2016

 
2015

Statutory Federal income tax rate
35.0
 %
 
35.0
 %
 
35.0
 %
State and local income taxes
1.7

 
0.6

 
1.1

Tax related to international activities
(5.5
)
 
(5.2
)
 
(4.5
)
Cash surrender value of life insurance
(0.9
)
 
0.2

 
(0.1
)
Federal manufacturing deduction
(0.9
)
 
(1.0
)
 
(1.6
)
Research tax credit
(0.8
)
 
(1.9
)
 
(0.8
)
Share-based compensation
(2.7
)
 
—

 
—

Other
0.1

 
(0.1
)
 
0.2

Effective income tax rate
26.0
 %
 
27.6
 %
 
29.3
 %
Differences comprising the net deferred taxes shown on consolidated balance sheet
The differences comprising the net deferred taxes shown on the Consolidated Balance Sheet at June 30 were as follows:
 
2017

 
2016

Retirement benefits
$
571,022

 
$
815,545

Other liabilities and reserves
144,885

 
126,524

Long-term contracts
61,375

 
64,371

Stock-based compensation
59,725

 
67,138

Loss carryforwards
678,486

 
326,707

Unrealized currency exchange gains and losses
22,212

 
(19,491
)
Inventory
17,809

 
14,693

Foreign tax credit carryforward
23,050

 
24,051

Depreciation and amortization
(1,080,218
)
 
(536,070
)
Valuation allowance
(684,079
)
 
(332,708
)
Net deferred tax (liability) asset
$
(185,733
)
 
$
550,760

 
 
 
 
Change in net deferred tax asset:
 
 
 
Provision for deferred tax
$
(37,024
)
 
$
65,686

Items of other comprehensive (loss)
(177,655
)
 
149,861

Acquisitions and other
(521,814
)
 
(7,832
)
Total change in net deferred tax
$
(736,493
)
 
$
207,715
Reconciliation of unrecognized tax benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

 
2017

 
2016

 
2015

Balance July 1
$
139,907

 
$
145,688

 
$
164,813

Additions for tax positions related to current year
4,735

 
7,025

 
6,090

Additions for tax positions of prior years
2,618

 
2,582

 
14,989

Additions for acquisitions
3,939

 
—

 
—

Reductions for tax positions of prior years
(1,175
)
 
(627
)
 
(6,945
)
Reductions for settlements
(3,020
)
 
(10,284
)
 
—

Reductions for expiration of statute of limitations
(2,792
)
 
(4,142
)
 
(6,251
)
Effect of foreign currency translation
3,294

 
(335
)
 
(27,008
)
Balance June 30
$
147,506

 
$
139,907

 
$
145,688