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Income Taxes (Tables)
 12 Months Ended
Jun. 30, 2018
Income Tax Disclosure [Abstract]  
Income before income taxes
Income before income taxes was derived from the following sources:
 
2018

 
2017

 
2016

United States
$
963,843

 
$
722,925

 
$
672,907

Foreign
738,434

 
605,716

 
441,821

 
$
1,702,277

 
$
1,328,641

 
$
1,114,728
Income taxes
Income taxes include the following:
 
2018

 
2017

 
2016

Federal
 
 
 
 
 
  Current
$
453,821

 
$
132,420

 
$
235,557

  Deferred
(23,876
)
 
37,316

 
(45,797
)
Foreign
 
 
 
 
 
  Current
210,385

 
157,518

 
113,146

  Deferred
(17,454
)
 
(5,319
)
 
(7,006
)
State and local
 
 
 
 
 
  Current
18,168

 
17,835

 
24,495

  Deferred
(82
)
 
5,027

 
(12,883
)
 
$
640,962

 
$
344,797

 
$
307,512
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:
 
2018

 
2017

 
2016

Statutory federal income tax rate
28.1
 %
 
35.0
 %
 
35.0
 %
State and local income taxes
1.2

 
1.7

 
0.6

Tax related to international activities
(1.0
)
 
(5.5
)
 
(5.2
)
Transition tax related to the TCJ Act
17.5

 
—

 
—

Remeasurement of deferred tax assets and liabilities related to the TCJ Act
(4.8
)
 
—

 
—

Cash surrender value of life insurance
(0.4
)
 
(0.9
)
 
0.2

Federal manufacturing deduction
(1.0
)
 
(0.9
)
 
(1.0
)
Research tax credit
(0.7
)
 
(0.8
)
 
(1.9
)
Share-based compensation
(2.2
)
 
(2.7
)
 
—

Other
1.0

 
0.1

 
(0.1
)
Effective income tax rate
37.7
 %
 
26.0
 %
 
27.6
 %
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:
 
2018

 
2017

Retirement benefits
$
340,480

 
$
571,022

Other liabilities and reserves
112,935

 
144,885

Long-term contracts
17,496

 
61,375

Stock-based compensation
38,535

 
59,725

Loss carryforwards
679,880

 
678,486

Unrealized currency exchange gains and losses
27,228

 
22,212

Inventory
(9,612
)
 
17,809

Foreign tax credit carryforward
—

 
23,050

Depreciation and amortization
(689,320
)
 
(1,080,218
)
Valuation allowance
(694,857
)
 
(684,079
)
Net deferred tax (liability)
$
(177,235
)
 
$
(185,733
)
 
 
 
 
Change in net deferred tax asset (liability):
 
 
 
Provision for deferred tax
$
41,412

 
$
(37,024
)
Items of other comprehensive (loss)
(65,542
)
 
(177,655
)
Acquisitions and other
32,628

 
(521,814
)
Total change in net deferred tax
$
8,498

 
$
(736,493
)
Reconciliation of unrecognized tax benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
 
2018

 
2017

 
2016

Balance July 1
$
147,506

 
$
139,907

 
$
145,688

Additions for tax positions related to current year
4,195

 
4,735

 
7,025

Additions for tax positions of prior years
8,333

 
2,618

 
2,582

Additions for acquisitions
—

 
3,939

 
—

Reductions for tax positions of prior years
(3,790
)
 
(1,175
)
 
(627
)
Reductions for settlements
(315
)
 
(3,020
)
 
(10,284
)
Reductions for expiration of statute of limitations
(4,480
)
 
(2,792
)
 
(4,142
)
Effect of foreign currency translation
1,642

 
3,294

 
(335
)
Balance June 30
$
153,091

 
$
147,506

 
$
139,907