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INCOME TAXES (Tables)
12 Months Ended
Jun. 30, 2020
INCOME TAXES  
Components of (loss) income before income taxes

​

​

​

​

​

​

​

​

​

​

​

​

​

Fiscal Year Ended June 30, 

​

​

2020

​

2019

​

2018

​

​

(Amounts in thousands)

United States

    

$

35,446

    

$

(3,776)

    

$

(39,662)

Foreign

​

 

157,150

​

 

110,353

​

 

(64,917)

​

​

$

192,596

​

$

106,577

​

$

(104,579)

Components of income tax expense

​

​

​

​

​

​

​

​

​

​

​

​

​

Fiscal Year Ended June 30, 

​

​

2020

​

2019

​

2018

​

​

(Amounts in thousands)

Current:

    

​

  

    

​

  

    

​

  

Federal

​

$

18,320

​

$

(6,974)

​

$

24,621

State

​

 

347

​

 

(13)

​

 

253

Foreign

​

 

10,078

​

 

26,230

​

 

22,741

​

​

$

28,745

​

$

19,243

​

$

47,615

Deferred and others:

​

 

  

​

 

  

​

 

  

Federal

​

$

(1,047)

​

$

916

​

$

(2,253)

State

​

 

(19)

​

 

17

​

 

(223)

Foreign

​

 

(31,333)

​

 

(2,678)

​

 

(30,367)

​

​

$

(32,399)

​

$

(1,745)

​

$

(32,843)

Total income tax (benefit) expense

​

$

(3,654)

​

$

17,498

​

$

14,772

Schedule of income tax expense and effective tax rate

​

​

​

​

​

​

​

​

​

​

​

​

​

Fiscal Year Ended June 30, 

​

​

2020

​

2019

​

2018

​

​

(Amounts in thousands)

Total expense (benefit) computed by applying federal rates

    

$

40,445

    

$

22,381

    

$

(29,343)

State and provincial income taxes, net of federal benefit

​

 

304

​

 

135

​

 

(104)

Excess depletion

​

 

(1,291)

​

 

(867)

​

 

(1,440)

Estimates for uncertain tax positions

​

 

(11,146)

​

 

3,180

​

 

8,574

Statutory tax attributable to non-controlling interest

​

 

654

​

 

1,013

​

 

1,736

Effect of foreign earnings

​

 

(8,249)

​

 

(6,921)

​

 

1,230

Effect of foreign earnings indefinitely reinvested

​

 

—

​

 

—

​

 

(19,004)

Realized foreign exchange gains

​

 

—

​

 

—

​

 

18,330

Unrealized foreign exchange gains

​

 

(286)

​

 

(38)

​

 

(1,610)

Effects of US income tax reform

​

​

—

​

​

—

​

 

30,675

Effects of Swiss income tax reform

​

​

(72,669)

​

​

—

​

​

—

Changes in estimates

​

 

24

​

 

(1,538)

​

 

(70)

Valuation allowance

​

​

47,840

​

​

(47)

​

​

6,337

Other

​

 

720

​

 

200

​

 

(539)

Total income tax (benefit) expense

​

$

(3,654)

​

$

17,498

​

$

14,772

Schedule of deferred tax assets and liabilities

​

​

​

​

​

​

​

​

​

​

2020

​

2019

​

​

(Amounts in thousands)

Deferred tax assets:

    

​

  

    

​

  

Stock-based compensation

​

$

1,313

​

$

1,118

Net operating losses

​

 

104

​

 

56

Foreign tax credits

​

​

17,159

​

​

11,125

Amortizable tax goodwill

​

​

67,287

​

​

—

Other

​

 

7,713

​

 

7,960

Total deferred tax assets

​

 

93,576

​

 

20,259

Valuation allowance

​

 

(60,604)

​

 

(12,764)

Net deferred tax assets

​

$

32,972

​

$

7,495

Deferred tax liabilities:

​

 

  

​

 

  

Mineral property basis

​

$

(67,639)

​

$

(74,360)

Unrealized foreign exchange gains

​

 

(582)

​

 

(582)

Investment in Peak Gold joint venture

​

​

(3,955)

​

​

(4,353)

Other

​

 

(346)

​

 

(150)

Total deferred tax liabilities

​

 

(72,522)

​

 

(79,445)

Total net deferred taxes

​

$

(39,550)

​

$

(71,950)

Reconciliation of beginning and ending amount of gross unrecognized tax benefit

​

​

​

​

​

​

​

​

​

​

​

​

​

2020

​

2019

​

2018

​

​

(Amounts in thousands)

Total gross unrecognized tax benefits at beginning of year

    

$

36,547

    

$

36,346

    

$

28,542

Additions / Reductions for tax positions of current year

​

 

537

​

 

1,709

​

 

1,624

Additions / Reductions for tax positions of prior years

​

​

(694)

​

​

(912)

​

​

6,180

Reductions due to settlements with taxing authorities

​

 

(11,001)

​

 

(596)

​

 

—

Total amount of gross unrecognized tax benefits at end of year

​

$

25,389

​

$

36,547

​

$

36,346