Note 10 - Income Taxes |
9 Months Ended |
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Mar. 31, 2017 | |
| Notes to Financial Statements | |
| Income Tax Disclosure [Text Block] |
Note 10. Income Taxes:The company’s tax rate was
28.8% and 28.7% for the third quarter of fiscal year 2017 and 2016, respectively and 35.0% and 28.1% for the first nine months of fiscal year 2017 and 2016, respectively. The changes in the company’s tax rate for the third quarter and first nine months of fiscal year 2017 compared to third quarter and first nine months of 2016 were primarily driven by the tax rate impact of discrete tax items.The company recognized net expense related to discrete tax items of
$0.4 million during the third quarter of fiscal year 2017 and net expense related to discrete tax items of $4.9 million during the first nine months of fiscal year 2017. The year to date net discrete expense includes a $5.3 million expense related to the revaluation of contingent consideration which is not tax deductible.No third quarter or first nine months of fiscal year 2016.
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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