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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