9.INCOME TAXES

	For The Three Months Ended						For The Six Months Ended
	December 31,			December 31,			December 31,			December 31,
	2015			2014			2015			2014
	(Amounts in thousands, except rate)						(Amounts in thousands, except rate)

Income tax (expense) benefit	$	(4,740	)	$	1,827		$	(63,917	)	$	(2,131	)
Effective tax rate	25.4		%	22.4		%	194.3		%	14.5		%

The higher effective tax rate for the three months ended December 31, 2015 was primarily related to higher discrete period charges as compared to the three months ended December 31, 2014. The increase in the effective tax rate for the six months ended December 31, 2015 is primarily related to the discrete tax impacts attributable to the Company’s Andacollo transactions (Note 2) and the liquidation of our Chilean subsidiary.

As of December 31, 2015 and June 30, 2015, the Company had $15.9 million and $15.1 million of total gross unrecognized tax benefits, respectively. If recognized, these unrecognized tax benefits would positively impact the Company’s effective income tax rate.

The Company’s continuing practice is to recognize potential interest and/or penalties related to unrecognized tax benefits as part of its income tax expense. At December 31, 2015 and June 30, 2015, the amount of accrued income-tax-related interest and penalties was $5.3 million and $4.6 million, respectively.