Income Taxes (Text Block)

6 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

INCOME TAXES

The effective tax rate decreased for the three months ended December 31, 2024, compared to the three months ended December 31, 2023, with an effective tax rate of 23.2% of income before income taxes, compared to 23.5% in the prior fiscal year quarter.

For the six months ended December 31, 2024, and 2023, the effective tax rate remained consistent, with an effective tax rate of 23.6% of income before income taxes.

The Company paid income taxes, net of refunds, of $65,833 and $52,018 in the six months ended December 31, 2024, and 2023, respectively.

At December 31, 2024, the Company had $21,259 of gross unrecognized tax benefits before interest and penalties, $19,218 of which, if recognized, would affect our effective tax rate. The Company had accrued interest and penalties of $4,281 related to uncertain tax positions at December 31, 2024.

The U.S. federal and state income tax returns for fiscal 2021 and all subsequent years remain subject to examination as of December 31, 2024, under statute of limitations rules. In addition, certain U.S. state income tax returns remain subject to examination as of December 31, 2024, under the statute of limitation rules for fiscal 2016 through 2020. The Company anticipates potential changes due to lapsing of statutes of limitations, and examination

closures could reduce the unrecognized tax benefits balance by $3,000 to $7,000 within twelve months of December 31, 2024.