Consolidated Balance Sheets 
Significant components of the Company’s net deferred tax assets are as follows:  
June 30,  2012  2011 
Deferred tax assets:     
Compensation liabilities not currently deductible  $ 37,341   $ 36,746  
Expenses and reserves not currently deductible  6,151   5,498  
Goodwill and intangibles  6,518   9,075  
Net operating loss carryforwards (expiring in years 2015-2027)  444   432  
Foreign tax credits (expiring in years 2020 and 2022)  4,092   4,090  
Other  480   677  
Total deferred tax assets  55,026   56,518  
Less: Valuation allowance  (157 )  (158 ) 
Deferred tax assets, net of valuation allowance  54,869   56,360  
Deferred tax liabilities:     
Inventories  (6,021 )  (4,755 ) 
Unremitted foreign earnings  (2,804 )  (2,804 ) 
Depreciation and differences in property bases  (11,602 )  (2,062 ) 
Total deferred tax liabilities  (20,427 )  (9,621 ) 
Net deferred tax assets  $ 34,442   $ 46,739  
The net deferred tax asset is classified as follows:     
Other current assets  $ 12,189   $ 5,510  
Deferred tax assets (long-term)  26,424   43,447  
Other liabilities  (4,171 )  (2,218 ) 
Net deferred tax assets  $ 34,442   $ 46,739  
Valuation allowances are provided against deferred tax assets where it is considered more-likely-than-not that the Company w ill not realize 
the benefit of such assets.  The remaining net deferred tax asset is the am ount management believes is more-likely-than-not of being 
realized.  The realization of these deferred tax assets can be impacted by ch anges to tax laws, statutory rates and future income levels. 
U.S. federal inc ome taxes are provided on the portion of non-U.S. subsidiaries i ncome that is not considered to be permanently 
reinvested outside the U.S. and may be remitted to the U.S.  At June 30, 2012, undistributed earnings of non-U.S. subsidiaries 
considered to be permanently reinvested and for which no U.S. tax has been provided totaled approximately $79,800. Determination of 
the net amount of the unrecognize d tax liabil ity with respect to these earnings is not practicable; however, foreign tax credits would be 
available to partially reduce U.S. income taxes in the event of a distribution.  Undistributed earnings of non-U.S. subsidiaries not 
considered permanently reinvested totaled approximately $13,600.  U.S. taxes totaling $2,804 have been accrued on these earnings. 
Unrecognized Income Tax Benefits 
The Company and its subsidiaries file income tax returns in U.S. federal, various state, local and foreign jurisdictions .  The following is 
a reconcil
iation of the Company’s total gross unrecognized income tax benefits:  
Year Ended June 30,  2012  2011  2010 
Unrecognized Income Tax Benefits at beginning of the year  $ 1,181   $ 1,842   $ 1,860  
Current year tax positions  331   153   130  
Prior year tax positions  398   50   46  
Expirations of statutes of limitations  (371 )  (273 )  (194 ) 
Settlements  —    (591 )  —   
Unrecognized Income Tax Benefits at end of year  $ 1,539   $ 1,181   $ 1,842  
  
 
Included in the balance of unrecognized income tax benefits at June 30, 2012, 2011 and 2010 are $1,221, $659 and $988, 
respectively, of income tax benefits that, if recognized, would affect the effective income tax rate. 
During 2012, 2011 and 2010, the Company recognized $(95), $(22) and $22, respectively, for interest and penalties related to 
unrecognized income tax benefits in its statements of c onsolidated income.  The Company had a liability for penalties and interest  of 
$430 and $525 as of June 30, 2012 and 2011, respectively.  The Company does not anticipate a significant change to the total 
amount of unrecognized income tax benefits within the next twelve months. 
The Company is subject to U.S. federal income tax examinations for the tax years 2009 through 2012 and to state and local income 
tax examinations for the tax years 2008 through 2012.  In addition, the Company is subject to foreign income tax examinations for