v3.26.1
INCOME TAXES (Tables)
 12 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Before Income Taxes
The components of income before income taxes are as follows:
Year Ended June 30,202620252024
U.S.$513,009 $475,266 $467,785 
Foreign31,265 25,701 30,345 
Income before income taxes$544,274 $500,967 $498,130 
Schedule of Provision for Income Taxes
The provision for income taxes consists of:
Year Ended June 30,202620252024
Current:
Federal$78,575 $87,700 $86,501 
State and local20,179 18,525 23,016 
Foreign4,731 8,116 3,925 
Total current103,485 114,341 113,442 
Deferred:
Federal20,802 (4,432)(791)
State and local3,331 (310)1,159 
Foreign2,131 (1,620)(1,442)
Total deferred26,264 (6,362)(1,074)
Provision for income taxes$129,749 $107,979 $112,368 
Schedule of Effective Income Tax Rate
The following reconciles the U.S. federal statutory income tax rate to the Company’s effective income tax rate:
Year Ended June 30,202620252024
AmountPercentAmountPercentAmountPercent
U.S. federal statutory tax rate$114,298 21.0 %$105,203 21.0 %$104,607 21.0 %
State and local income taxes, net of federal income tax effect1,2,3
18,559 3.4 14,409 2.9 19,981 4.0 
Foreign tax effects7,966 1.5 6,939 1.4 1,307 0.4 
Effect of cross-border tax laws(1,206)(0.2)(2,822)(0.6)(3,482)(0.7)
Foreign tax credits(6,830)(1.3)(5,813)(1.2)(2,808)(0.6)
Tax credits742 0.1 (2,503)(0.5)(2,471)(0.5)
Nontaxable or nondeductible items2,033 0.4 1,631 0.4 2,459 0.5 
Share-based payments(5,762)(1.1)(5,634)(1.1)(5,909)(1.2)
Changes in unrecognized tax benefits(17)— (3,257)(0.7)(1,559)(0.3)
Other adjustments(34)— (174)— 243 — 
Effective tax rate$129,749 23.8 %$107,979 21.6 %$112,368 22.6 %
1State taxes in the following states make up more than 50% of the tax effect in this category for 2026; California, Wisconsin, Minnesota,
Illinois, Michigan, Iowa, Indiana, New York, Pennsylvania and Oregon.
2State taxes in the following states make up more than 50% of the tax effect in this category for 2025; California, Wisconsin, Minnesota,
Illinois, Michigan, Iowa, Indiana and New York.
3State taxes in the following states make up more than 50% of the tax effect in this category for 2024; California, Wisconsin, Minnesota,
Illinois, Michigan, Iowa, Indiana, New York, Pennsylvania and Oregon.
Schedule of Components of Income Taxes Paid
The components of income taxes paid globally are as follows:
Year ended June 30,202620252024
Federal taxes paid$77,257 $80,799 $86,000 
State taxes paid20,592 18,143 25,499 
Foreign taxes paid11,097 8,779 4,812 
Total income taxes paid$108,946 $107,721 $116,311 
Schedule of Deferred Income Tax Assets and Liabilities
Significant components of the Company’s deferred income tax assets and liabilities are as follows:
June 30,20262025
Deferred tax assets:
Compensation liabilities not currently deductible$20,989 $20,331 
Other expenses and reserves not currently deductible19,558 17,430 
Leases41,697 36,054 
Foreign tax credit4,945 — 
Net operating loss carryforwards 2,774 5,388 
Capitalization of R&D costs2,538 22,284 
Other348 2,281 
Total deferred tax assets92,849 103,768 
Less: Valuation allowance51 853 
Total deferred tax assets, net of valuation allowance92,798 102,915 
Deferred tax liabilities:
Inventories(26,915)(20,376)
Goodwill and intangibles(65,715)(64,062)
Leases(41,470)(35,933)
Hedging instrument— (1,906)
Depreciation and differences in property bases(13,943)(10,530)
Total deferred tax liabilities(148,043)(132,807)
Net deferred tax liabilities$(55,245)$(29,892)
Net deferred tax liabilities are classified as follows:
Other assets$8,676 $12,263 
Other liabilities(63,921)(42,155)
Net deferred tax liabilities$(55,245)$(29,892)
Schedule of Unrecognized Income Tax Benefits The following table sets forth the changes in the amount of unrecognized tax benefits for 2026, 2025, and 2024:
Year Ended June 30,202620252024
Unrecognized Income Tax Benefits at beginning of the year$918 $3,048 $4,821 
Current year tax positions85 85 105 
Prior year tax positions400 57 (412)
Expirations of statutes of limitations(487)(2,272)(1,466)
Unrecognized Income Tax Benefits at end of year$916 $918 $3,048