Note 13 - Income Taxes (Tables)
|
12 Months Ended |
Jun. 30, 2021 |
Notes Tables |
|
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
U.S. operations |
|
$ |
75,458 |
|
|
$ |
12,690 |
|
|
$ |
35,041 |
|
Non-U.S. operations |
|
|
953 |
|
|
|
1,499 |
|
|
|
(1,181 |
) |
Income before income taxes |
|
$ |
76,411 |
|
|
$ |
14,189 |
|
|
$ |
33,860 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. operations |
|
|
15,812 |
|
|
|
4,989 |
|
|
|
7,897 |
|
Non-U.S. operations |
|
|
594 |
|
|
|
300 |
|
|
|
265 |
|
Total income tax expense |
|
$ |
16,406 |
|
|
$ |
5,289 |
|
|
$ |
8,162 |
|
Effective tax rate |
|
|
21.5 |
% |
|
|
37.3 |
% |
|
|
24.1 |
% |
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
Current: |
|
|
|
|
|
|
|
|
|
|
|
|
Federal |
|
$ |
10,617 |
|
|
$ |
2,432 |
|
|
$ |
10,132 |
|
State |
|
|
1,647 |
|
|
|
8 |
|
|
|
1,237 |
|
Foreign |
|
|
492 |
|
|
|
325 |
|
|
|
304 |
|
Total current |
|
|
12,756 |
|
|
|
2,765 |
|
|
|
11,673 |
|
Deferred: |
|
|
|
|
|
|
|
|
|
|
|
|
Federal |
|
|
4,462 |
|
|
|
181 |
|
|
|
(3,091 |
) |
State |
|
|
(914 |
) |
|
|
2,368 |
|
|
|
(381 |
) |
Foreign |
|
|
102 |
|
|
|
(25 |
) |
|
|
(39 |
) |
Total deferred |
|
|
3,650 |
|
|
|
2,524 |
|
|
|
(3,511 |
) |
Total income tax expense |
|
$ |
16,406 |
|
|
$ |
5,289 |
|
|
$ |
8,162 |
|
|
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense at U.S. Federal statutory tax rate |
|
$ |
16,046 |
|
|
|
21.0 |
% |
|
$ |
2,980 |
|
|
|
21.0 |
% |
|
$ |
7,111 |
|
|
|
21.0 |
% |
Increase (decrease) in income taxes resulting from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
State and local income taxes, net of U.S. federal income benefit |
|
|
2,565 |
|
|
|
3.4 |
% |
|
|
159 |
|
|
|
1.1 |
% |
|
|
737 |
|
|
|
2.2 |
% |
Change in valuation allowance |
|
|
(2,565 |
) |
|
|
-3.4 |
% |
|
|
2,534 |
|
|
|
17.9 |
% |
|
|
602 |
|
|
|
1.8 |
% |
Foreign derived intangible income ("FDII") deduction |
|
|
- |
|
|
|
0.0 |
% |
|
|
- |
|
|
|
0.0 |
% |
|
|
(161 |
) |
|
|
-0.5 |
% |
Unrecognized tax benefits |
|
|
48 |
|
|
|
0.1 |
% |
|
|
(215 |
) |
|
|
-1.5 |
% |
|
|
26 |
|
|
|
0.1 |
% |
Share-based compensation |
|
|
72 |
|
|
|
0.1 |
% |
|
|
17 |
|
|
|
0.1 |
% |
|
|
184 |
|
|
|
0.5 |
% |
Other, net |
|
|
240 |
|
|
|
0.3 |
% |
|
|
(186 |
) |
|
|
-1.3 |
% |
|
|
(337 |
) |
|
|
-1.0 |
% |
Actual income tax expense (and corresponding effective tax rate) |
|
$ |
16,406 |
|
|
|
21.5 |
% |
|
$ |
5,289 |
|
|
|
37.3 |
% |
|
$ |
8,162 |
|
|
|
24.1 |
% |
|
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
|
|
June 30, |
|
|
|
2021 |
|
|
2020 |
|
|
|
|
|
|
|
|
|
|
Leases |
|
$ |
30,692 |
|
|
$ |
32,184 |
|
Employee compensation accruals |
|
|
2,131 |
|
|
|
2,259 |
|
Share-based compensation |
|
|
727 |
|
|
|
670 |
|
Net operating loss carryforwards |
|
|
1,420 |
|
|
|
2,002 |
|
Property, plant and equipment |
|
|
1,446 |
|
|
|
1,020 |
|
Other |
|
|
2,263 |
|
|
|
2,825 |
|
Subtotal deferred tax assets |
|
|
38,679 |
|
|
|
40,960 |
|
Less: Valuation allowance |
|
|
(593 |
) |
|
|
(3,158 |
) |
Total deferred tax assets |
|
$ |
38,086 |
|
|
$ |
37,802 |
|
|
|
June 30, |
|
|
|
2021 |
|
|
2020 |
|
Operating lease right-of-use assets |
|
$ |
26,811 |
|
|
$ |
27,334 |
|
Intangible assets other than goodwill |
|
|
8,979 |
|
|
|
9,080 |
|
Commissions |
|
|
5,744 |
|
|
|
2,207 |
|
Other |
|
|
502 |
|
|
|
118 |
|
Total deferred tax liabilities |
|
$ |
42,036 |
|
|
$ |
38,739 |
|
|
|
June 30, |
|
|
|
2021 |
|
|
2020 |
|
Other assets |
|
$ |
1,078 |
|
|
$ |
137 |
|
Other non-current liabilities |
|
|
5,028 |
|
|
|
1,074 |
|
Total net deferred tax asset (liability) |
|
$ |
(3,950 |
) |
|
$ |
(937 |
) |
|
Schedule of Deferred Tax Assets Expiration with Respect to Net Operating Losses [Table Text Block] |
|
|
Deferred |
|
|
Net Operating Loss |
|
|
|
Tax Assets |
|
|
Carryforwards |
|
Various U.S. state net operating losses, expiring between 2025 and 2040 |
|
$ |
1,148 |
|
|
$ |
21,457 |
|
Foreign capital losses, expiring between 2034 and 2040 |
|
$ |
272 |
|
|
$ |
1,027 |
|
|
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] |
|
|
June 30, |
|
|
|
2021 |
|
|
2020 |
|
Beginning balance |
|
$ |
1,933 |
|
|
$ |
2,209 |
|
Additions for tax positions related to the current year |
|
|
452 |
|
|
|
214 |
|
Additions for tax positions of prior years |
|
|
117 |
|
|
|
126 |
|
Reductions resulting from a lapse of the applicable statute of limitations |
|
|
(518 |
) |
|
|
(616 |
) |
Ending balance |
|
$ |
1,984 |
|
|
$ |
1,933 |
|
|