Phibro Animal Health (PAHC) 10-Q 5 Feb 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2017	Jan. 29, 2018
Entity Registrant Name	PHIBRO ANIMAL HEALTH CORP
Entity Central Index Key	1,069,899
Trading Symbol	pahc
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Class A common stock
Entity Common Stock, Shares Outstanding		19,589,889
Class B common stock
Entity Common Stock, Shares Outstanding		20,602,836

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Net sales	$ 205,876	$ 191,598	$ 399,288	$ 379,585
Cost of goods sold	138,957	128,100	268,987	255,088
Gross profit	66,919	63,498	130,301	124,497
Selling, general and administrative expenses	42,981	40,870	83,976	80,056
Operating income	23,938	22,628	46,325	44,441
Interest expense, net	3,050	3,872	6,168	7,779
Foreign currency (gains) losses, net	(323)	(548)	2	(214)
Income before income taxes	21,211	19,304	40,155	36,876
Provision (benefit) for income taxes	14,179	5,887	17,231	11,282
Net income	$ 7,032	$ 13,417	$ 22,924	$ 25,594
Net income per share
basic (in dollars per share)	$ 0.17	$ 0.34	$ 0.57	$ 0.65
diluted (in dollars per share)	$ 0.17	$ 0.34	$ 0.57	$ 0.64
Weighted average common shares outstanding
basic (in shares)	40,186	39,411	40,065	39,409
diluted (in shares)	40,364	40,002	40,329	39,954
Dividends per share	$ 0.10	$ 0.10	$ 0.20	$ 0.20

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 7,032	$ 13,417	$ 22,924	$ 25,594
Change in fair value of derivative instruments	(276)	270	(898)	304
Foreign currency translation adjustment	(5,005)	(2,296)	(1,772)	(3,189)
Unrecognized net pension gains (losses)	95	4,671	226	11,840
(Provision) benefit for income taxes	809	(1,894)	996	(4,644)
Other comprehensive income (loss)	(4,377)	751	(1,448)	4,311
Comprehensive income	$ 2,655	$ 14,168	$ 21,476	$ 29,905

CONSOLIDATED BALANCE SHEETS (un

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Dec. 31, 2017	Jun. 30, 2017
ASSETS
Cash and cash equivalents	$ 40,185	$ 56,083
Short-term investments	27,000
Accounts receivable, net	132,242	125,847
Inventories, net	173,613	161,233
Other current assets	23,407	20,502
Total current assets	396,447	363,665
Property, plant and equipment, net	127,940	127,351
Intangibles, net	56,454	54,602
Goodwill	29,624	23,982
Other assets	52,665	53,797
Total assets	663,130	623,397
LIABILITIES AND STOCKHOLDERS' EQUITY
Current portion of long-term debt	9,458	6,250
Accounts payable	64,779	56,894
Accrued expenses and other current liabilities	52,999	52,652
Total current liabilities	127,236	115,796
Revolving credit facility	71,000	65,000
Long-term debt	235,910	241,891
Other liabilities	60,659	49,553
Total liabilities	494,805	472,240
Commitments and contingencies (Note 9)
Common stock, par value $0.0001 per share; 300,000,000 Class A shares authorized, 19,585,889 and 19,249,132 shares issued and outstanding at December 31, 2017, and June 30, 2017, respectively; 30,000,000 Class B shares authorized, 20,602,836 and 20,626,836 shares issued and outstanding at December 31, 2017, and June 30, 2017, respectively	4	4
Preferred stock, par value $0.0001 per share; 16,000,000 shares authorized, no shares issued and outstanding
Paid-in capital	127,540	123,840
Retained earnings	97,666	82,750
Accumulated other comprehensive income (loss)	(56,885)	(55,437)
Total stockholders' equity	168,325	151,157
Total liabilities and stockholders' equity	$ 663,130	$ 623,397

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) (unaudited) - $ / shares	Dec. 31, 2017	Jun. 30, 2017
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	16,000,000	16,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A common stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	19,585,889	19,249,132
Common stock, shares outstanding	19,585,889	19,249,132
Class B common stock
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	30,000,000	30,000,000
Common stock, shares issued	20,602,836	20,626,836
Common stock, shares outstanding	20,602,836	20,626,836

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
OPERATING ACTIVITIES
Net income	$ 22,924	$ 25,594
Adjustments to reconcile net income to net cash provided (used) by operating activities:
Depreciation and amortization	13,275	12,762
Amortization of debt issuance costs and debt discount	441	508
Acquisition-related cost of goods sold	1,671
Acquisition-related accrued compensation	924	840
Acquisition-related accrued interest	505	855
Pension settlement cost		1,702
Deferred income taxes	5,725	3,736
Foreign currency (gains) losses, net	11	293
Other	418	310
Changes in operating assets and liabilities, net of business acquisition:
Accounts receivable, net	(5,075)	(1,583)
Inventories, net	(10,845)	7,017
Other current assets	(4,751)	919
Other assets	664	(512)
Accounts payable	7,473	(4,667)
Accrued expenses and other liabilities	3,733	(41)
Net cash provided (used) by operating activities	37,093	47,733
INVESTING ACTIVITIES
Purchases of short-term investments	(27,000)
Capital expenditures	(8,851)	(10,564)
Business acquisition	(15,000)
Other, net	(716)	(201)
Net cash provided (used) by investing activities	(51,567)	(10,765)
FINANCING ACTIVITIES
Revolving credit facility borrowings	109,870	73,000
Revolving credit facility repayments	(103,870)	(93,500)
Payments of long-term debt, capital leases and other	(3,236)	(2,776)
Proceeds from common shares issued	3,700	110
Dividends paid	(8,008)	(7,882)
Net cash provided (used) by financing activities	(1,544)	(31,048)
Effect of exchange rate changes on cash	120	(305)
Net increase (decrease) in cash and cash equivalents	(15,898)	5,615
Cash and cash equivalents at beginning of period	56,083	33,605
Cash and cash equivalents at end of period	$ 40,185	$ 39,220

Description of Business

Description of Business	6 Months Ended
	Dec. 31, 2017
Description Of Business [Abstract]
Description of Business	1. Description of Business Phibro Animal Health Corporation (“Phibro” or “PAHC”) and its subsidiaries (together, the “Company”) is a diversified global developer, manufacturer and marketer of a broad range of animal health and mineral nutrition products for food animals including poultry, swine, cattle, dairy and aquaculture. The Company is also a manufacturer and marketer of performance products for use in the personal care, automotive, industrial chemical and chemical catalyst industries. Unless otherwise indicated or the context requires otherwise, references in this report to “we,” “our,” “us,” and similar expressions refer to Phibro and its subsidiaries. The unaudited consolidated financial information for the three and six months ended December 31, 2017 and 2016, is presented on the same basis as the financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2017 (the “Annual Report”), filed with the Securities and Exchange Commission on August 30, 2017 (File no. 001-36410). In the opinion of management, these financial statements include all adjustments necessary for a fair statement of the financial position, results of operations and cash flows of the Company for the interim periods, and the adjustments are of a normal and recurring nature. The financial results for any interim period are not necessarily indicative of the results for the full year. The consolidated balance sheet information as of June 30, 2017, was derived from the audited consolidated financial statements, which include the accounts of Phibro and its consolidated subsidiaries, but does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). The unaudited consolidated financial information should be read in conjunction with the consolidated financial statements and notes thereto included in the Annual Report. The consolidated financial statements include the accounts of Phibro and its consolidated subsidiaries. Intercompany balances and transactions have been eliminated in the consolidated financial statements. The decision whether or not to consolidate an entity requires consideration of majority voting interests, as well as effective control over the entity.

Summary of Significant Accounti

Summary of Significant Accounting Policies and New Accounting Standards	6 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and New Accounting Standards	2. Summary of Significant Accounting Policies and New Accounting Standards ​ Our significant accounting policies are described in the notes to the consolidated financial statements included in our Annual Report. As of December 31, 2017, there have been no material changes to any of the significant accounting policies contained therein, except for the addition of our policy on short-term investments. Short-term Investments Short-term investments include highly liquid investments with maturities of greater than three months and less than one year at the time of purchase. These investments are classified as held to maturity and related interest income is recorded as earned. We determine the appropriate balance sheet classification at the time of purchase and at each balance sheet date. Investments held at financial institutions may at times exceed insured amounts. We believe we mitigate such risk by investing in or through major financial institutions. Net Income per Share and Weighted Average Shares Basic net income per share is calculated by dividing net income by the weighted average number of common shares outstanding during the reporting period. Diluted net income per share is calculated by dividing net income by the weighted average number of common shares outstanding during the reporting period after giving effect to potential dilutive common shares resulting from the assumed exercise of stock options. For the three and six months ended December 31, 2017 and 2016, all common share equivalents were included in the calculation of diluted net income per share. ​ ​ ​ Three Months ​ ​ Six Months ​ For the Periods Ended December 31 ​ ​ 2017 ​ ​ 2016 ​ ​ 2017 ​ ​ 2016 ​ Net income ​ ​ ​ $ 7,032 ​ ​ ​ ​ $ 13,417 ​ ​ ​ ​ $ 22,924 ​ ​ ​ ​ $ 25,594 ​ ​ Weighted average number of shares – basic ​ ​ ​ ​ 40,186 ​ ​ ​ ​ ​ 39,411 ​ ​ ​ ​ ​ 40,065 ​ ​ ​ ​ ​ 39,409 ​ ​ Dilutive effect of stock options ​ ​ ​ ​ 178 ​ ​ ​ ​ ​ 591 ​ ​ ​ ​ ​ 264 ​ ​ ​ ​ ​ 545 ​ ​ Weighted average number of shares – diluted ​ ​ ​ ​ 40,364 ​ ​ ​ ​ ​ 40,002 ​ ​ ​ ​ ​ 40,329 ​ ​ ​ ​ ​ 39,954 ​ ​ Net income per share ​ ​ ​ ​ ​ basic ​ ​ ​ $ 0.17 ​ ​ ​ ​ $ 0.34 ​ ​ ​ ​ $ 0.57 ​ ​ ​ ​ $ 0.65 ​ ​ diluted ​ ​ ​ $ 0.17 ​ ​ ​ ​ $ 0.34 ​ ​ ​ ​ $ 0.57 ​ ​ ​ ​ $ 0.64 ​ ​ New Accounting Standards Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments ASU 2016-02, Leases (Topic 842) ASU 2015-11, Inventory (Topic 330) ASU 2014-09, Revenue from Contracts with Customers (Topic 606)

Statements of Operations-Additi

Statements of Operations-Additional Information	6 Months Ended
	Dec. 31, 2017
Supplemental Income Statement Elements [Abstract]
Statements of Operations-Additional Information	3. Statements of Operations—Additional Information ​ ​ ​ ​ Three Months ​ ​ Six Months ​ For the Periods Ended December 31 ​ ​ 2017 ​ ​ 2016 ​ ​ 2017 ​ ​ 2016 ​ Interest expense, net ​ ​ ​ ​ ​ Term loan ​ ​ ​ $ 2,110 ​ ​ ​ ​ $ 2,866 ​ ​ ​ ​ $ 4,143 ​ ​ ​ ​ $ 5,771 ​ ​ Revolving credit facility ​ ​ ​ ​ 739 ​ ​ ​ ​ ​ 731 ​ ​ ​ ​ ​ 1,420 ​ ​ ​ ​ ​ 1,686 ​ ​ Amortization of debt issuance costs and debt discount ​ ​ ​ ​ 220 ​ ​ ​ ​ ​ 255 ​ ​ ​ ​ ​ 441 ​ ​ ​ ​ ​ 508 ​ ​ Acquisition-related accrued interest ​ ​ ​ ​ 252 ​ ​ ​ ​ ​ 462 ​ ​ ​ ​ ​ 505 ​ ​ ​ ​ ​ 855 ​ ​ Other ​ ​ ​ ​ 2 ​ ​ ​ ​ ​ 47 ​ ​ ​ ​ ​ 241 ​ ​ ​ ​ ​ 128 ​ ​ Interest expense ​ ​ ​ ​ 3,323 ​ ​ ​ ​ ​ 4,361 ​ ​ ​ ​ ​ 6,750 ​ ​ ​ ​ ​ 8,948 ​ ​ Interest (income) ​ ​ ​ ​ (273 ) ​ ​ ​ ​ ​ (489 ) ​ ​ ​ ​ ​ (582 ) ​ ​ ​ ​ ​ (1,169 ) ​ ​ ​ ​ ​ ​ $ 3,050 ​ ​ ​ ​ $ 3,872 ​ ​ ​ ​ $ 6,168 ​ ​ ​ ​ $ 7,779 ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ Depreciation of property, plant and equipment ​ ​ ​ $ 5,222 ​ ​ ​ ​ $ 4,952 ​ ​ ​ ​ $ 10,405 ​ ​ ​ ​ $ 9,683 ​ ​ Amortization of intangible assets ​ ​ ​ ​ 1,397 ​ ​ ​ ​ ​ 1,434 ​ ​ ​ ​ ​ 2,846 ​ ​ ​ ​ ​ 2,962 ​ ​ Amortization of other assets ​ ​ ​ ​ 12 ​ ​ ​ ​ ​ 58 ​ ​ ​ ​ ​ 24 ​ ​ ​ ​ ​ 117 ​ ​ ​ ​ ​ ​ $ 6,631 ​ ​ ​ ​ $ 6,444 ​ ​ ​ ​ $ 13,275 ​ ​ ​ ​ $ 12,762

Balance Sheets-Additional Infor

Balance Sheets-Additional Information	6 Months Ended
	Dec. 31, 2017
Balance Sheets Additional Information [Abstract]
Balance Sheets-Additional Information	4. Balance Sheets—Additional Information ​ As of ​ ​ December 31, 2017 ​ ​ June 30, 2017 ​ Inventories ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Raw materials ​ ​ ​ $ 65,976 ​ ​ ​ ​ $ 54,861 ​ ​ Work-in-process ​ ​ ​ ​ 13,325 ​ ​ ​ ​ ​ 12,402 ​ ​ Finished goods ​ ​ ​ ​ 94,312 ​ ​ ​ ​ ​ 93,970 ​ ​ ​ ​ ​ ​ $ 173,613 ​ ​ ​ ​ $ 161,233 ​ ​ ​ In September 2017, we acquired a business for $15,000. The business develops, manufactures and markets animal health products. We accounted for the acquisition as a business combination in accordance with ASC 805, Business Combinations As of ​ ​ December 31, 2017 ​ ​ June 30, 2017 ​ Goodwill roll-forward ​ ​ ​ Balance at beginning of period ​ ​ ​ $ 23,982 ​ ​ ​ ​ $ 21,121 ​ ​ Purchase price allocation adjustment ​ ​ ​ ​ — ​ ​ ​ ​ ​ 2,861 ​ ​ Acquisition ​ ​ ​ ​ 5,642 ​ ​ ​ ​ ​ — ​ ​ Balance at end of period ​ ​ ​ $ 29,624 ​ ​ ​ ​ $ 23,982 ​ ​ ​ We evaluate our investments in equity method investees for impairment if circumstances indicate that the fair value of the investment may be impaired. The assets underlying a $3,905 equity investment are currently idled; we have concluded the investment is not currently impaired, based on expected future operating cash flows and/or disposal value. As of ​ ​ December 31, 2017 ​ ​ June 30, 2017 ​ Accrued expenses and other current liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee related ​ ​ ​ $ 22,590 ​ ​ ​ ​ $ 26,553 ​ ​ Commissions and rebates ​ ​ ​ ​ 5,830 ​ ​ ​ ​ ​ 6,443 ​ ​ Insurance related ​ ​ ​ ​ 1,549 ​ ​ ​ ​ ​ 1,515 ​ ​ Professional fees ​ ​ ​ ​ 3,944 ​ ​ ​ ​ ​ 3,823 ​ ​ Income and other taxes ​ ​ ​ ​ 4,000 ​ ​ ​ ​ ​ 3,035 ​ ​ Other ​ ​ ​ ​ 15,086 ​ ​ ​ ​ ​ 11,283 ​ ​ ​ ​ ​ ​ $ 52,999 ​ ​ ​ ​ $ 52,652 ​ ​ ​ As of ​ ​ December 31, 2017 ​ ​ June 30, 2017 ​ Accumulated other comprehensive income (loss) ​ ​ ​ Derivative instruments ​ ​ ​ $ 1,788 ​ ​ ​ ​ $ 2,686 ​ ​ Foreign currency translation adjustment ​ ​ ​ ​ (45,328 ) ​ ​ ​ ​ ​ (43,556 ) ​ ​ Unrecognized net pension gains (losses) ​ ​ ​ ​ (17,833 ) ​ ​ ​ ​ ​ (18,059 ) ​ ​ (Provision) benefit for income taxes on derivative instruments ​ ​ ​ ​ (483 ) ​ ​ ​ ​ ​ (1,553 ) ​ ​ (Provision) benefit for incomes taxes on long-term intercompany investments ​ ​ ​ ​ 8,166 ​ ​ ​ ​ ​ 8,166 ​ ​ (Provision) benefit for income taxes on pension gains (losses) ​ ​ ​ ​ (3,195 ) ​ ​ ​ ​ ​ (3,121 ) ​ ​ ​ ​ ​ ​ $ (56,885 ) ​ ​ ​ ​ $ (55,437 ) ​ ​ ​

Debt

Debt	6 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Debt	5. Debt ​ Term Loans and Revolving Credit Facilities Pursuant to a credit agreement (the “Credit Agreement”), we have a revolving credit facility (the “Revolver”), where we can borrow up to $250,000, subject to the terms of the agreement, and a term A loan with an aggregate initial principal amount of  $250,000 (the “Term A Loan,” and together with the Revolver, the “Credit Facilities”). The Credit Facilities have applicable margins equal to 2.00%, 1.75% or 1.50%, in the case of LIBOR and Eurodollar rate loans and 1.00%, 0.75% or 0.50%, in the case of base rate loans; the applicable margins are based on the First Lien Net Leverage Ratio, as defined in the Credit Agreement. The libor rate is subject to a floor of 0.00%. The Credit Facilities require, among other things, the maintenance of  (i) a maximum First Lien Net Leverage Ratio and (ii) a minimum consolidated interest coverage ratio, each calculated on a trailing four quarter basis, and contain an acceleration clause should an event of default (as defined in the agreement governing the Credit Facilities) occur. As of December 31, 2017, we were in compliance with the covenants of the Credit Facilities. The Credit Facilities mature on June 29, 2022. As of December 31, 2017, we had $71,000 in borrowings under the Revolver and had outstanding letters of credit of  $4,606, leaving $174,394 available for borrowings and letters of credit under the Revolver. We obtain letters of credit in connection with certain regulatory and insurance obligations, inventory purchases and other contractual obligations. The terms of these letters of credit are one year or less. The weighted-average interest rates for the Revolver and Term A Loan were 3.01% and 3.29%, respectively, for the six months ended December 31, 2017. ​ In July 2017, we entered into an interest rate swap agreement on $150 million of notional principal that effectively converts the floating LIBOR or base rate portion of our interest obligation on that amount of debt, to a fixed interest rate of 1.8325% plus the applicable rate. The agreement matures concurrent with the Credit Agreement. The interest rate swap has been designated as a highly effective cash flow hedge. For additional details, see “—Derivatives.” Long-Term Debt As of ​ ​ December 31, 2017 ​ ​ June 30, 2017 ​ Term A Loan due June 2022 ​ ​ ​ $ 246,875 ​ ​ ​ ​ $ 250,000 ​ ​ Capitalized lease obligations ​ ​ ​ ​ 166 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ ​ ​ 247,041 ​ ​ ​ ​ ​ 250,000 ​ ​ Unamortized debt issuance costs and debt discount ​ ​ ​ ​ (1,673 ) ​ ​ ​ ​ ​ (1,859 ) ​ ​ ​ ​ ​ ​ ​ 245,368 ​ ​ ​ ​ ​ 248,141 ​ ​ Less: current maturities ​ ​ ​ ​ (9,458 ) ​ ​ ​ ​ ​ (6,250 ) ​ ​ ​ ​ ​ ​ $ 235,910 ​ ​ ​ ​ $ 241,891 ​ ​ ​

Related Party Transactions

Related Party Transactions	6 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	6. Related Party Transactions Certain relatives of Jack C. Bendheim, our Chairman, President and Chief Executive Officer, provided services to us as employees or consultants and received aggregate compensation and benefits of approximately $409 and $1,129 during the three and six months ended December 31, 2017, respectively, and $445 and $1,047 during the three and six months ended December 31, 2016, respectively. Mr. Bendheim has sole authority to vote shares of our stock owned by BFI Co., LLC, an investment vehicle of the Bendheim family.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Dec. 31, 2017
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	7. Employee Benefit Plans ​ The Company maintains a noncontributory defined benefit pension plan for all domestic nonunion employees employed on or prior to December 31, 2013, who meet certain requirements of age, length of service and hours worked per year. Plan benefits are based upon years of service and average compensation, as defined. In July 2016, we amended the domestic noncontributory defined benefit pension plan to eliminate credit for future service and compensation increases, effective as of September 30, 2016. The amendment resulted in a curtailment of the pension plan. During the three months ended September 30, 2016, we recorded a pension curtailment gain of $6,822 in other comprehensive income and an offsetting reduction in the liability for pension benefits included in other liabilities. During the three month ended December 31, 2016, we recognized a partial settlement of the pension plan, which resulted in a charge to the consolidated statements of operations of  $1,702, which was recorded as a component of selling, general and administrative expenses.

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes ​ The United States government enacted comprehensive income tax legislation (the “Tax Act”) in December 2017. The Tax Act makes broad and complex changes to United States income tax law and includes numerous elements that affect the Company, including a reduced federal corporate income tax rate and changes to business-related exclusions, deductions and credits. The Tax Act also has consequences related to our international operations. Our consolidated financial statements as of December 31, 2017, and for the three and six months then ended, reflect the estimated effects of the Tax Act, including: • a $2,450 provision for income taxes and reduction in deferred tax assets for the remeasurement of deferred tax assets and liabilities to reflect the reduced income tax rate; ​ ​ • a $4,249 provision for income taxes and increase in current and long-term liabilities to reflect the one-time mandatory toll charge on the deemed repatriation of undistributed earnings of foreign subsidiaries; ​ • an update to the provision for income taxes to reflect a statutory 28.1% weighted-average federal income tax rate and other elements of the Tax Act in effect for our fiscal year ending June 30, 2018. The statutory federal income tax rate will be 21.0% for our fiscal year beginning July 1, 2018. ​ We have recorded reasonable estimates of the effects of the Tax Act; however, we have not completed the analysis of all necessary information, including our assessment of a potential provision for Global Intangible Low-Taxed Income wherein taxes on certain foreign income are imposed in excess of a deemed return on tangible assets of foreign corporations. As such, we have recorded provisional amounts and may adjust such amounts as we complete our analysis. The final financial statement effects of the Tax Act may differ from the provisional amounts, possibly materially, due to, among other things, changes in interpretations, legislative action to address questions that arise because of the Tax Act, changes in accounting standards for income taxes or related interpretations, or any updates or changes to estimates we have utilized. Our consolidated financial statements as of December 31, 2017, and for the three and six months then ended, also reflect the following discrete income tax related items: • a $527 provision for income taxes and a reduction in accumulated other comprehensive income (“AOCI”). The provision was necessary to eliminate the income taxes remaining in AOCI after all related foreign currency derivatives had matured and were completely cleared from AOCI; ​ • a $1,000 provision for income taxes and a reduction in deferred tax assets for the remeasurement of deferred tax assets to reflect a reduced income tax rate in certain international jurisdictions. ​ • a $387 net provision and a $2,359 benefit from the exercise of employee stock options for the three and six months ended December 31, 2017, respectively. The net provision from the exercise of employee stock options included a $460 provision to adjust the benefit recognized in the three months ended September 30, 2017, to the reduced income tax rate.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies ​ Environmental Our operations and properties are subject to extensive federal, state, local and foreign laws and regulations, including those governing pollution; protection of the environment; the use, management, and release of hazardous materials, substances and wastes; air emissions; greenhouse gas emissions; water use, supply and discharges; the investigation and remediation of contamination; the manufacture, distribution, and sale of regulated materials, including pesticides; the importing, exporting and transportation of products; and the health and safety of our employees (collectively, “Environmental Laws”). As such, the nature of our current and former operations exposes us to the risk of claims with respect to such matters, including fines, penalties, and remediation obligations that may be imposed by regulatory authorities. Under certain circumstances, we might be required to curtail operations until a particular problem is remedied. Known costs and expenses under Environmental Laws incidental to ongoing operations, including the cost of litigation proceedings relating to environmental matters, are included within operating results. Potential costs and expenses may also be incurred in connection with the repair or upgrade of facilities to meet existing or new requirements under Environmental Laws or to investigate or remediate potential or actual contamination and from time to time we establish reserves for such contemplated investigation and remediation costs. In many instances, the ultimate costs under Environmental Laws and the time period during which such costs are likely to be incurred are difficult to predict. While we believe that our operations are currently in material compliance with Environmental Laws, we have, from time to time, received notices of violation from governmental authorities, and have been involved in civil or criminal action for such violations. Additionally, at various sites, our subsidiaries are engaged in continuing investigation, remediation and/or monitoring efforts to address contamination associated with historic operations of the sites. We devote considerable resources to complying with Environmental Laws and managing environmental liabilities. We have developed programs to identify requirements under, and maintain compliance with Environmental Laws; however, we cannot predict with certainty the effect of increased and more stringent regulation on our operations, future capital expenditure requirements, or the cost of compliance. The nature of our current and former operations exposes us to the risk of claims with respect to environmental matters and we cannot assure we will not incur material costs and liabilities in connection with such claims. Based upon our experience to date, we believe that the future cost of compliance with existing Environmental Laws, and liabilities for known environmental claims pursuant to such Environmental Laws, will not have a material adverse effect on our financial position, results of operations, cash flows or liquidity. The United States Environmental Protection Agency (the “EPA”) is investigating and planning for the remediation of offsite contaminated groundwater that has migrated from the Omega Chemical Corporation Superfund Site (“Omega Chemical Site”), which is upgradient of a facility in Santa Fe Springs, California, operated by our subsidiary Phibro-Tech, Inc. (“Phibro-Tech”). The EPA has named Phibro-Tech and certain other subsidiaries of PAHC as potentially responsible parties (“PRPs”) due to groundwater contamination from Phibro-Tech’s Santa Fe Springs facility that has allegedly commingled with contaminated groundwater from the Omega Chemical Site. In September 2012, the EPA notified approximately 140 PRPs, including Phibro-Tech and the other subsidiaries, that they have been identified as potentially responsible for remedial action for the groundwater plume affected by the Omega Chemical Site and for EPA oversight and response costs. Phibro-Tech contends that groundwater contamination at its site is due to historical operations that pre-date Phibro-Tech and/or contaminated groundwater that has migrated from upgradient properties. In addition, a successor to a prior owner of the Phibro-Tech site has asserted that PAHC and Phibro-Tech are obligated to provide indemnification for its potential liability and defense costs relating to the groundwater plume affected by the Omega Chemical Site. Phibro-Tech has vigorously contested this position and has asserted that the successor to the prior owner is required to indemnify Phibro-Tech for its potential liability and defense costs. Furthermore, a nearby property owner has filed a complaint in the Superior Court of the State of California against many of the PRPs allegedly associated with the groundwater plume affected by the Omega Chemical Site (including Phibro-Tech) for alleged contamination of groundwater underneath its property, and a group of companies that sent chemicals to the Omega Chemical Site for processing and recycling has filed a complaint under CERCLA, RCRA and the common law public nuisance doctrine in the United States District Court for the Central District of California against many of the PRPs allegedly associated with the groundwater plume affected by the Omega Chemical Site (including Phibro-Tech) for contribution toward past and future costs associated with the investigation and remediation of the groundwater plume affected by the Omega Chemical Site. Due to the ongoing nature of the EPA’s investigation and Phibro-Tech’s dispute with the prior owner’s successor, at this time we cannot predict with any degree of certainty what, if any, liability Phibro-Tech or the other subsidiaries may ultimately have for investigation, remediation and the EPA oversight and response costs associated with the affected groundwater plume. Based upon information available, to the extent such costs can be estimated with reasonable certainty, we estimated the cost for further investigation and remediation of identified soil and groundwater problems at operating sites, closed sites and third-party sites, and closure costs for closed sites, to be approximately $6,866 and $7,211 at December 31, 2017, and June 30, 2017, respectively, which is included in current and long-term liabilities on the consolidated balance sheets. However, future events, such as new information, changes in existing Environmental Laws or their interpretation, and more vigorous enforcement policies of regulatory agencies, may give rise to additional expenditures or liabilities that could be material. For all purposes of the discussion under this caption and elsewhere in this report, it should be noted that we take and have taken the position that neither PAHC nor any of our subsidiaries is liable for environmental or other claims made against one or more of our other subsidiaries or for which any of such other subsidiaries may ultimately be responsible. Claims and Litigation PAHC and its subsidiaries are party to a number of claims and lawsuits arising out of the normal course of business including product liabilities, payment disputes and governmental regulation. Certain of these actions seek damages in various amounts. In many cases, such claims are covered by insurance. We believe that none of the claims or pending lawsuits, either individually or in the aggregate, will have a material adverse effect on our financial position, results of operations, cash flows or liquidity.

Derivatives

Derivatives	6 Months Ended
	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	10. Derivatives ​ We monitor our exposure to foreign currency exchange rates and interest rates and from time-to-time use derivatives to manage certain of these risks. We designate derivatives as a hedge of a forecasted transaction or of the variability of the cash flows to be received or paid in the future related to a recognized asset or liability (cash flow hedge). All changes in the fair value of a highly effective cash flow hedge are recorded in accumulated other comprehensive income (loss). We routinely assess whether the derivatives used to hedge transactions are effective. If we determine a derivative ceases to be an effective hedge, we discontinue hedge accounting in the period of the assessment for that derivative, and immediately recognize any unrealized gains or losses related to the fair value of that derivative in the consolidated statements of operations. We record derivatives at fair value in the consolidated balance sheets. For additional details regarding fair value, see “—Fair Value Measurements.” The outstanding derivatives that are designated and effective as cash flow hedges as of December 31, 2017 were: Instrument ​ ​ Hedge ​ ​ Notional ​ ​ Consolidated ​ ​ Fair value as of ​ ​ December 31, ​ ​ June 30, ​ Options ​ ​ Brazilian Real calls ​ ​  R$— ​ ​ Other current assets ​ ​ ​ $ — ​ ​ ​ ​ $ 2,686 ​ ​ Swap ​ ​ Interest rate swap ​ ​ $150,000 ​ ​ Other assets ​ ​ ​ $ 1,788 ​ ​ ​ ​ $ — ​ ​ For the Three Months Ended December 31 ​ Instrument ​ ​ Hedge ​ ​ Gain (Loss) recorded in OCI ​ ​ Gain (Loss) recognized in ​ ​ Consolidated Statement ​ ​ 2017 ​ ​ 2016 ​ ​ Consolidated ​ ​ 2017 ​ ​ 2016 ​ ​ 2017 ​ ​ 2016 ​ Options ​ ​ Brazilian ​ ​ ​ $ (1,781 ) ​ ​ ​ ​ $ 270 ​ ​ ​ Cost of goods sold ​ ​ ​ $ 517 ​ ​ ​ ​ $ (393 ) ​ ​ ​ ​ $ 138,957 ​ ​ ​ ​ $ 128,100 ​ ​ Swap ​ ​ Interest rate ​ ​ ​ $ 1,505 ​ ​ ​ ​ $ — ​ ​ ​ Interest expense, net ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ 3,050 ​ ​ ​ ​ $ 3,872 ​ ​ For the Six Months Ended December 31 ​ Instrument ​ ​ Hedge ​ ​ Gain (Loss) recorded in OCI ​ ​ Gain (Loss) recognized in ​ ​ Consolidated Statement ​ ​ 2017 ​ ​ 2016 ​ ​ Consolidated ​ ​ 2017 ​ ​ 2016 ​ ​ 2017 ​ ​ 2016 ​ Options ​ ​ Brazilian ​ ​ ​ $ (2,686 ) ​ ​ ​ ​ $ 304 ​ ​ ​ Cost of goods sold ​ ​ ​ $ 703 ​ ​ ​ ​ $ (1,528 ) ​ ​ ​ ​ $ 268,987 ​ ​ ​ ​ $ 255,088 ​ ​ Swap ​ ​ Interest rate swap ​ ​ ​ $ 1,788 ​ ​ ​ ​ $ — ​ ​ ​ Interest expense, net ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ 6,168 ​ ​ ​ ​ $ 7,779 ​ ​ The foreign currency derivatives generally had a maturity of two years or less; no foreign currency derivatives were outstanding as of December 31, 2017. The foreign currency derivatives were intended to hedge cash flows related to the purchase of inventory. For the six months ended December 31, 2017, realized gains of  $3,254 related to matured contracts were recorded as a component of inventory. We anticipate these gains will be recognized as an offset to cost of goods sold within the next twelve months. At June 30, 2017, net realized gains of  $966 related to matured contracts were recorded as a component of inventory. We recognized $703 of these gains in cost of goods sold during the six months ended December 31, 2017, and anticipate we will recognize the remaining $263 of these gains in costs of goods sold in the three months ending March 31, 2018. We recognize gains (losses) related to these derivative instruments as a component of cost of goods sold at the time the hedged item is sold. In July 2017, we entered into an interest rate swap agreement on $150,000 of notional principal that effectively converts the floating LIBOR or base rate portion of our interest obligation on that amount of debt, to a fixed interest rate of 1.8325% plus the applicable rate. The agreement matures concurrent with the Credit Agreement. The forecasted transactions are probable of occurring, and the interest rate swap has been designated as a highly effective cash flow hedge. The fair value of the interest rate swap agreement is recorded as an asset or liability with a corresponding amount included in accumulated other comprehensive income (loss).

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	11. Fair Value Measurements Short-term investments We consider the carrying amounts of short-term investments to be representative of their fair value because of the nature of the items. Contingent Consideration on Acquisitions We determine the fair value of contingent consideration on acquisitions based on contractual terms, our current forecast of performance factors related to the acquired business and an applicable discount rate. Derivatives We determine the fair value of derivative instruments based upon pricing models using observable market inputs for these types of financial instruments, such as spot and forward currency translation rates, and interest rate curves. Fair Value of Assets (Liabilities) As of ​ ​ December 31, 2017 ​ ​ June 30, 2017 ​ ​ ​ ​ Level 1 ​ ​ Level 2 ​ ​ Level 3 ​ ​ Level 1 ​ ​ Level 2 ​ ​ Level 3 ​ Short-term investments ​ ​ ​ $ 27,000 ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ Derivatives asset ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ ​ ​ $ 2,686 ​ ​ ​ ​ $  — ​ ​ Interest rate swap ​ ​ ​ $  — ​ ​ ​ ​ $ 1,788 ​ ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ Contingent consideration on ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ ​ ​ $ (8,079 ) ​ ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ ​ ​ $ (7,644 ) ​ ​ The table below provides a summary of the changes in the fair value of Level 3 assets (liabilities): ​ ​ ​ ​ ​ Balance, June 30, 2017 ​ ​ ​ $ (7,644 ) ​ ​ ​ Acquisition-related accrued interest ​ ​ ​ ​ (505 ) ​ ​ ​ Payment ​ ​ ​ ​ 70 ​ ​ ​ Balance, December 31, 2017 ​ ​ ​ $ (8,079 ) ​ ​ ​

Business Segments

Business Segments	6 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Business Segments	12. Business Segments ​ The Animal Health segment manufactures and markets a broad range of products for food animals, including poultry, swine, cattle, dairy and aquaculture. The business includes net sales of medicated feed additives and other related products, nutritional specialty products and vaccines. The Mineral Nutrition segment manufactures and markets a broad range of trace minerals for food animals. The Performance Products segment manufactures and markets a variety of products for use in the personal care, automotive, industrial chemical and chemical catalyst industries. We evaluate performance and allocate resources based on the Animal Health, Mineral Nutrition and Performance Products segments. Certain of our costs and assets are not directly attributable to these segments and we refer to these items as Corporate. We do not allocate Corporate costs or assets to the segments because they are not used to evaluate the segments’ operating results or financial position. Corporate costs include certain costs related to executive management, business technology, legal, finance, human resources and business development. Corporate assets include cash and cash equivalents, certain debt issue costs, income tax related assets and certain other assets. We evaluate performance of our segments based on Adjusted EBITDA. We define Adjusted EBITDA as income before income taxes plus (a) interest expense, net, (b) depreciation and amortization, (c) (income) loss from, and disposal of, discontinued operations, (d) other expense or less other income, as separately reported on our consolidated statements of operations, including foreign currency gains and losses and loss on extinguishment of debt, and (e) certain items that we consider to be unusual, non-operational or non-recurring. The accounting policies of our segments are the same as those described in the summary of significant accounting policies included herein. ​ ​ ​ Three Months ​ ​ Six Months ​ For the Periods Ended December 31 ​ ​ 2017 ​ ​ 2016 ​ ​ 2017 ​ ​ 2016 ​ Net sales ​ ​ ​ ​ ​ Animal Health ​ ​ ​ $ 132,845 ​ ​ ​ ​ $ 123,673 ​ ​ ​ ​ $ 261,686 ​ ​ ​ ​ $ 248,174 ​ ​ Mineral Nutrition ​ ​ ​ ​ 59,616 ​ ​ ​ ​ ​ 56,699 ​ ​ ​ ​ ​ 111,689 ​ ​ ​ ​ ​ 108,291 ​ ​ Performance Products ​ ​ ​ ​ 13,415 ​ ​ ​ ​ ​ 11,226 ​ ​ ​ ​ ​ 25,913 ​ ​ ​ ​ ​ 23,120 ​ ​ Total segments ​ ​ ​ $ 205,876 ​ ​ ​ ​ $ 191,598 ​ ​ ​ ​ $ 399,288 ​ ​ ​ ​ $ 379,585 ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ Animal Health ​ ​ ​ $ 5,265 ​ ​ ​ ​ $ 5,011 ​ ​ ​ ​ $ 10,519 ​ ​ ​ ​ $ 9,909 ​ ​ Mineral Nutrition ​ ​ ​ ​ 584 ​ ​ ​ ​ ​ 542 ​ ​ ​ ​ ​ 1,169 ​ ​ ​ ​ ​ 1,084 ​ ​ Performance Products ​ ​ ​ ​ 259 ​ ​ ​ ​ ​ 235 ​ ​ ​ ​ ​ 505 ​ ​ ​ ​ ​ 453 ​ ​ Total segments ​ ​ ​ $ 6,108 ​ ​ ​ ​ $ 5,788 ​ ​ ​ ​ $ 12,193 ​ ​ ​ ​ $ 11,446 ​ ​ Adjusted EBITDA ​ ​ ​ ​ ​ Animal Health ​ ​ ​ $ 35,036 ​ ​ ​ ​ $ 34,609 ​ ​ ​ ​ $ 68,778 ​ ​ ​ ​ $ 67,228 ​ ​ Mineral Nutrition ​ ​ ​ ​ 5,614 ​ ​ ​ ​ ​ 4,741 ​ ​ ​ ​ ​ 9,330 ​ ​ ​ ​ ​ 8,729 ​ ​ Performance Products ​ ​ ​ ​ 264 ​ ​ ​ ​ ​ 260 ​ ​ ​ ​ ​ 512 ​ ​ ​ ​ ​ 1,002 ​ ​ Total segments ​ ​ ​ $ 40,914 ​ ​ ​ ​ $ 39,610 ​ ​ ​ ​ $ 78,620 ​ ​ ​ ​ $ 76,959 ​ ​ ​ ​ ​ ​ Three Months ​ ​ Six Months ​ For the Periods Ended December 31 ​ ​ 2017 ​ ​ 2016 ​ ​ 2017 ​ ​ 2016 ​ Reconciliation of income before income taxes to Adjusted EBITDA ​ ​ ​ ​ ​ Income before income taxes ​ ​ ​ $ 21,211 ​ ​ ​ ​ $ 19,304 ​ ​ ​ ​ $ 40,155 ​ ​ ​ ​ $ 36,876 ​ ​ Interest expense, net ​ ​ ​ ​ 3,050 ​ ​ ​ ​ ​ 3,872 ​ ​ ​ ​ ​ 6,168 ​ ​ ​ ​ ​ 7,779 ​ ​ Depreciation and amortization – Total segments ​ ​ ​ ​ 6,108 ​ ​ ​ ​ ​ 5,788 ​ ​ ​ ​ ​ 12,193 ​ ​ ​ ​ ​ 11,446 ​ ​ Depreciation and amortization – Corporate ​ ​ ​ ​ 523 ​ ​ ​ ​ ​ 656 ​ ​ ​ ​ ​ 1,082 ​ ​ ​ ​ ​ 1,316 ​ ​ Corporate costs ​ ​ ​ ​ 8,436 ​ ​ ​ ​ ​ 8,416 ​ ​ ​ ​ ​ 16,025 ​ ​ ​ ​ ​ 15,940 ​ ​ Acquisition-related cost of goods sold ​ ​ ​ ​ 1,422 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 1,671 ​ ​ ​ ​ ​ — ​ ​ Acquisition-related accrued compensation ​ ​ ​ ​ 487 ​ ​ ​ ​ ​ 420 ​ ​ ​ ​ ​ 924 ​ ​ ​ ​ ​ 840 ​ ​ Acquisition-related transaction costs ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 400 ​ ​ ​ ​ ​ 1,274 ​ ​ Pension settlement cost ​ ​ ​ ​ — ​ ​ ​ ​ ​ 1,702 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 1,702 ​ ​ Foreign currency (gains) losses, net ​ ​ ​ ​ (323 ) ​ ​ ​ ​ ​ (548 ) ​ ​ ​ ​ ​ 2 ​ ​ ​ ​ ​ (214 ) ​ ​ Adjusted EBITDA – Total segments ​ ​ ​ $ 40,914 ​ ​ ​ ​ $ 39,610 ​ ​ ​ ​ $ 78,620 ​ ​ ​ ​ $ 76,959 ​ ​ ​ As of ​ ​ December 31, 2017 ​ ​ June 30, 2017 ​ Identifiable assets ​ ​ ​ Animal Health ​ ​ ​ $ 465,058 ​ ​ ​ ​ $ 442,521 ​ ​ Mineral Nutrition ​ ​ ​ ​ 63,407 ​ ​ ​ ​ ​ 55,184 ​ ​ Performance Products ​ ​ ​ ​ 23,541 ​ ​ ​ ​ ​ 23,681 ​ ​ Total segments ​ ​ ​ ​ 552,006 ​ ​ ​ ​ ​ 521,386 ​ ​ Corporate ​ ​ ​ ​ 111,124 ​ ​ ​ ​ ​ 102,011 ​ ​ Total ​ ​ ​ $ 663,130 ​ ​ ​ ​ $ 623,397 ​ ​ ​ The Animal Health segment includes all goodwill of the Company. The Animal Health segment includes advances to and investment in an equity method investee of  $3,905 and $3,719 as of December 31, 2017 and June 30, 2017, respectively. The Performance Products segment includes an investment in an equity method investee of  $624 and $516 as of December 31, 2017 and June 30, 2017, respectively. Corporate assets include cash and cash equivalents, certain debt issuance costs, income tax related assets and certain other assets.

Summary of Significant Accoun19

Summary of Significant Accounting Policies and New Accounting Standards (Policies)	6 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Short-term Investments	Short-term Investments Short-term investments include highly liquid investments with maturities of greater than three months and less than one year at the time of purchase. These investments are classified as held to maturity and related interest income is recorded as earned. We determine the appropriate balance sheet classification at the time of purchase and at each balance sheet date. Investments held at financial institutions may at times exceed insured amounts. We believe we mitigate such risk by investing in or through major financial institutions.
Net Income per Share and Weighted Average Shares	Net Income per Share and Weighted Average Shares Basic net income per share is calculated by dividing net income by the weighted average number of common shares outstanding during the reporting period. Diluted net income per share is calculated by dividing net income by the weighted average number of common shares outstanding during the reporting period after giving effect to potential dilutive common shares resulting from the assumed exercise of stock options. For the three and six months ended December 31, 2017 and 2016, all common share equivalents were included in the calculation of diluted net income per share. ​ ​ ​ Three Months ​ ​ Six Months ​ For the Periods Ended December 31 ​ ​ 2017 ​ ​ 2016 ​ ​ 2017 ​ ​ 2016 ​ Net income ​ ​ ​ $ 7,032 ​ ​ ​ ​ $ 13,417 ​ ​ ​ ​ $ 22,924 ​ ​ ​ ​ $ 25,594 ​ ​ Weighted average number of shares – basic ​ ​ ​ ​ 40,186 ​ ​ ​ ​ ​ 39,411 ​ ​ ​ ​ ​ 40,065 ​ ​ ​ ​ ​ 39,409 ​ ​ Dilutive effect of stock options ​ ​ ​ ​ 178 ​ ​ ​ ​ ​ 591 ​ ​ ​ ​ ​ 264 ​ ​ ​ ​ ​ 545 ​ ​ Weighted average number of shares – diluted ​ ​ ​ ​ 40,364 ​ ​ ​ ​ ​ 40,002 ​ ​ ​ ​ ​ 40,329 ​ ​ ​ ​ ​ 39,954 ​ ​ Net income per share ​ ​ ​ ​ ​ basic ​ ​ ​ $ 0.17 ​ ​ ​ ​ $ 0.34 ​ ​ ​ ​ $ 0.57 ​ ​ ​ ​ $ 0.65 ​ ​ diluted ​ ​ ​ $ 0.17 ​ ​ ​ ​ $ 0.34 ​ ​ ​ ​ $ 0.57 ​ ​ ​ ​ $ 0.64 ​ ​
New Accounting Standards	New Accounting Standards Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments ASU 2016-02, Leases (Topic 842) ASU 2015-11, Inventory (Topic 330) ASU 2014-09, Revenue from Contracts with Customers (Topic 606)

Summary of Significant Accoun20

Summary of Significant Accounting Policies and New Accounting Standards (Tables)	6 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Schedule of Net Income per Share and Weighted Average Shares	​ ​ ​ Three Months ​ ​ Six Months ​ For the Periods Ended December 31 ​ ​ 2017 ​ ​ 2016 ​ ​ 2017 ​ ​ 2016 ​ Net income ​ ​ ​ $ 7,032 ​ ​ ​ ​ $ 13,417 ​ ​ ​ ​ $ 22,924 ​ ​ ​ ​ $ 25,594 ​ ​ Weighted average number of shares – basic ​ ​ ​ ​ 40,186 ​ ​ ​ ​ ​ 39,411 ​ ​ ​ ​ ​ 40,065 ​ ​ ​ ​ ​ 39,409 ​ ​ Dilutive effect of stock options ​ ​ ​ ​ 178 ​ ​ ​ ​ ​ 591 ​ ​ ​ ​ ​ 264 ​ ​ ​ ​ ​ 545 ​ ​ Weighted average number of shares – diluted ​ ​ ​ ​ 40,364 ​ ​ ​ ​ ​ 40,002 ​ ​ ​ ​ ​ 40,329 ​ ​ ​ ​ ​ 39,954 ​ ​ Net income per share ​ ​ ​ ​ ​ basic ​ ​ ​ $ 0.17 ​ ​ ​ ​ $ 0.34 ​ ​ ​ ​ $ 0.57 ​ ​ ​ ​ $ 0.65 ​ ​ diluted ​ ​ ​ $ 0.17 ​ ​ ​ ​ $ 0.34 ​ ​ ​ ​ $ 0.57 ​ ​ ​ ​ $ 0.64

Statements of Operations-Addi21

Statements of Operations-Additional Information (Tables)	6 Months Ended
	Dec. 31, 2017
Supplemental Income Statement Elements [Abstract]
Schedule of additional information of statements of operations	​ ​ ​ Three Months ​ ​ Six Months ​ For the Periods Ended December 31 ​ ​ 2017 ​ ​ 2016 ​ ​ 2017 ​ ​ 2016 ​ Interest expense, net ​ ​ ​ ​ ​ Term loan ​ ​ ​ $ 2,110 ​ ​ ​ ​ $ 2,866 ​ ​ ​ ​ $ 4,143 ​ ​ ​ ​ $ 5,771 ​ ​ Revolving credit facility ​ ​ ​ ​ 739 ​ ​ ​ ​ ​ 731 ​ ​ ​ ​ ​ 1,420 ​ ​ ​ ​ ​ 1,686 ​ ​ Amortization of debt issuance costs and debt discount ​ ​ ​ ​ 220 ​ ​ ​ ​ ​ 255 ​ ​ ​ ​ ​ 441 ​ ​ ​ ​ ​ 508 ​ ​ Acquisition-related accrued interest ​ ​ ​ ​ 252 ​ ​ ​ ​ ​ 462 ​ ​ ​ ​ ​ 505 ​ ​ ​ ​ ​ 855 ​ ​ Other ​ ​ ​ ​ 2 ​ ​ ​ ​ ​ 47 ​ ​ ​ ​ ​ 241 ​ ​ ​ ​ ​ 128 ​ ​ Interest expense ​ ​ ​ ​ 3,323 ​ ​ ​ ​ ​ 4,361 ​ ​ ​ ​ ​ 6,750 ​ ​ ​ ​ ​ 8,948 ​ ​ Interest (income) ​ ​ ​ ​ (273 ) ​ ​ ​ ​ ​ (489 ) ​ ​ ​ ​ ​ (582 ) ​ ​ ​ ​ ​ (1,169 ) ​ ​ ​ ​ ​ ​ $ 3,050 ​ ​ ​ ​ $ 3,872 ​ ​ ​ ​ $ 6,168 ​ ​ ​ ​ $ 7,779 ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ Depreciation of property, plant and equipment ​ ​ ​ $ 5,222 ​ ​ ​ ​ $ 4,952 ​ ​ ​ ​ $ 10,405 ​ ​ ​ ​ $ 9,683 ​ ​ Amortization of intangible assets ​ ​ ​ ​ 1,397 ​ ​ ​ ​ ​ 1,434 ​ ​ ​ ​ ​ 2,846 ​ ​ ​ ​ ​ 2,962 ​ ​ Amortization of other assets ​ ​ ​ ​ 12 ​ ​ ​ ​ ​ 58 ​ ​ ​ ​ ​ 24 ​ ​ ​ ​ ​ 117 ​ ​ ​ ​ ​ ​ $ 6,631 ​ ​ ​ ​ $ 6,444 ​ ​ ​ ​ $ 13,275 ​ ​ ​ ​ $ 12,762

Balance Sheets-Additional Inf22

Balance Sheets-Additional Information (Tables)	6 Months Ended
	Dec. 31, 2017
Balance Sheets Additional Information [Abstract]
Schedule of additional information of balance sheets	​ As of ​ ​ December 31, 2017 ​ ​ June 30, 2017 ​ Inventories ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Raw materials ​ ​ ​ $ 65,976 ​ ​ ​ ​ $ 54,861 ​ ​ Work-in-process ​ ​ ​ ​ 13,325 ​ ​ ​ ​ ​ 12,402 ​ ​ Finished goods ​ ​ ​ ​ 94,312 ​ ​ ​ ​ ​ 93,970 ​ ​ ​ ​ ​ ​ $ 173,613 ​ ​ ​ ​ $ 161,233 ​ ​ ​ As of ​ ​ December 31, 2017 ​ ​ June 30, 2017 ​ Goodwill roll-forward ​ ​ ​ Balance at beginning of period ​ ​ ​ $ 23,982 ​ ​ ​ ​ $ 21,121 ​ ​ Purchase price allocation adjustment ​ ​ ​ ​ — ​ ​ ​ ​ ​ 2,861 ​ ​ Acquisition ​ ​ ​ ​ 5,642 ​ ​ ​ ​ ​ — ​ ​ Balance at end of period ​ ​ ​ $ 29,624 ​ ​ ​ ​ $ 23,982 ​ ​ ​ As of ​ ​ December 31, 2017 ​ ​ June 30, 2017 ​ Accrued expenses and other current liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee related ​ ​ ​ $ 22,590 ​ ​ ​ ​ $ 26,553 ​ ​ Commissions and rebates ​ ​ ​ ​ 5,830 ​ ​ ​ ​ ​ 6,443 ​ ​ Insurance related ​ ​ ​ ​ 1,549 ​ ​ ​ ​ ​ 1,515 ​ ​ Professional fees ​ ​ ​ ​ 3,944 ​ ​ ​ ​ ​ 3,823 ​ ​ Income and other taxes ​ ​ ​ ​ 4,000 ​ ​ ​ ​ ​ 3,035 ​ ​ Other ​ ​ ​ ​ 15,086 ​ ​ ​ ​ ​ 11,283 ​ ​ ​ ​ ​ ​ $ 52,999 ​ ​ ​ ​ $ 52,652 ​ ​ ​ As of ​ ​ December 31, 2017 ​ ​ June 30, 2017 ​ Accumulated other comprehensive income (loss) ​ ​ ​ Derivative instruments ​ ​ ​ $ 1,788 ​ ​ ​ ​ $ 2,686 ​ ​ Foreign currency translation adjustment ​ ​ ​ ​ (45,328 ) ​ ​ ​ ​ ​ (43,556 ) ​ ​ Unrecognized net pension gains (losses) ​ ​ ​ ​ (17,833 ) ​ ​ ​ ​ ​ (18,059 ) ​ ​ (Provision) benefit for income taxes on derivative instruments ​ ​ ​ ​ (483 ) ​ ​ ​ ​ ​ (1,553 ) ​ ​ (Provision) benefit for incomes taxes on long-term intercompany investments ​ ​ ​ ​ 8,166 ​ ​ ​ ​ ​ 8,166 ​ ​ (Provision) benefit for income taxes on pension gains (losses) ​ ​ ​ ​ (3,195 ) ​ ​ ​ ​ ​ (3,121 ) ​ ​ ​ ​ ​ ​ $ (56,885 ) ​ ​ ​ ​ $ (55,437 ) ​ ​ ​

Debt (Tables)

Debt (Tables)	6 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Schedule of long term debt	As of ​ ​ December 31, 2017 ​ ​ June 30, 2017 ​ Term A Loan due June 2022 ​ ​ ​ $ 246,875 ​ ​ ​ ​ $ 250,000 ​ ​ Capitalized lease obligations ​ ​ ​ ​ 166 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ ​ ​ 247,041 ​ ​ ​ ​ ​ 250,000 ​ ​ Unamortized debt issuance costs and debt discount ​ ​ ​ ​ (1,673 ) ​ ​ ​ ​ ​ (1,859 ) ​ ​ ​ ​ ​ ​ ​ 245,368 ​ ​ ​ ​ ​ 248,141 ​ ​ Less: current maturities ​ ​ ​ ​ (9,458 ) ​ ​ ​ ​ ​ (6,250 ) ​ ​ ​ ​ ​ ​ $ 235,910 ​ ​ ​ ​ $ 241,891

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of significant outstanding derivatives employed to manage market risk and designated as cash flow hedges	Instrument ​ ​ Hedge ​ ​ Notional ​ ​ Consolidated ​ ​ Fair value as of ​ ​ December 31, ​ ​ June 30, ​ Options ​ ​ Brazilian Real calls​ ​ ​ R$— ​ ​ Other current assets ​ ​ ​ $ — ​ ​ ​ ​ $ 2,686 ​ ​ Swap ​ ​ Interest rate swap​ ​ ​ $150,000 ​ ​ Other assets ​ ​ ​ $ 1,788 ​ ​ ​ ​ $ — ​ ​ For the Three Months Ended December 31 ​ Instrument ​ ​ Hedge ​ ​ Gain (Loss) recorded in OCI ​ ​ Gain (Loss) recognized in ​ ​ Consolidated Statement ​ ​ 2017 ​ ​ 2016 ​ ​ Consolidated ​ ​ 2017 ​ ​ 2016 ​ ​ 2017 ​ ​ 2016 ​ Options ​ ​ Brazilian ​ ​ ​ $ (1,781 ) ​ ​ ​ ​ $ 270 ​ ​ ​ Cost of goods sold ​ ​ ​ $ 517 ​ ​ ​ ​ $ (393 ) ​ ​ ​ ​ $ 138,957 ​ ​ ​ ​ $ 128,100 ​ ​ Swap ​ ​ Interest rate ​ ​ ​ $ 1,505 ​ ​ ​ ​ $ — ​ ​ ​ Interest ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ 3,050 ​ ​ ​ ​ $ 3,872 ​ ​ For the Six Months Ended December 31 ​ Instrument ​ ​ Hedge ​ ​ Gain (Loss) recorded in OCI ​ ​ Gain (Loss) recognized in ​ ​ Consolidated Statement ​ ​ 2017 ​ ​ 2016 ​ ​ Consolidated ​ ​ 2017 ​ ​ 2016 ​ ​ 2017 ​ ​ 2016 ​ Options ​ ​ Brazilian ​ ​ ​ $ (2,686 ) ​ ​ ​ ​ $ 304 ​ ​ ​ Cost of goods sold ​ ​ ​ $ 703 ​ ​ ​ ​ $ (1,528 ) ​ ​ ​ ​ $ 268,987 ​ ​ ​ ​ $ 255,088 ​ ​ Swap ​ ​ Interest rate ​ ​ ​ $ 1,788 ​ ​ ​ ​ $ — ​ ​ ​ Interest expense, net ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ 6,168 ​ ​ ​ ​ $ 7,779 ​ ​

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of fair value derivatives, assets and liabilities	As of ​ ​ December 31, 2017 ​ ​ June 30, 2017 ​ ​ ​ ​ Level 1 ​ ​ Level 2 ​ ​ Level 3 ​ ​ Level 1 ​ ​ Level 2 ​ ​ Level 3 ​ Short-term investments ​ ​ ​ $ 27,000 ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ Derivatives asset ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ ​ ​ $ 2,686 ​ ​ ​ ​ $  — ​ ​ Interest rate swap ​ ​ ​ $  — ​ ​ ​ ​ $ 1,788 ​ ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ Contingent consideration on ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ ​ ​ $ (8,079 ) ​ ​ ​ ​ $  — ​ ​ ​ ​ $  — ​ ​ ​ ​ $ (7,644 ) ​ ​
Schedule of changes in the fair value of Level 3 assets	​ ​ ​ ​ ​ Balance, June 30, 2017 ​ ​ ​ $ (7,644 ) ​ ​ ​ Acquisition-related accrued interest ​ ​ ​ ​ (505 ) ​ ​ ​ Payment ​ ​ ​ ​ 70 ​ ​ ​ Balance, December 31, 2017 ​ ​ ​ $ (8,079 ) ​ ​ ​

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Schedule of information regarding reportable segments	​ ​ ​ Three Months ​ ​ Six Months ​ For the Periods Ended December 31 ​ ​ 2017 ​ ​ 2016 ​ ​ 2017 ​ ​ 2016 ​ Net sales ​ ​ ​ ​ ​ Animal Health ​ ​ ​ $ 132,845 ​ ​ ​ ​ $ 123,673 ​ ​ ​ ​ $ 261,686 ​ ​ ​ ​ $ 248,174 ​ ​ Mineral Nutrition ​ ​ ​ ​ 59,616 ​ ​ ​ ​ ​ 56,699 ​ ​ ​ ​ ​ 111,689 ​ ​ ​ ​ ​ 108,291 ​ ​ Performance Products ​ ​ ​ ​ 13,415 ​ ​ ​ ​ ​ 11,226 ​ ​ ​ ​ ​ 25,913 ​ ​ ​ ​ ​ 23,120 ​ ​ Total segments ​ ​ ​ $ 205,876 ​ ​ ​ ​ $ 191,598 ​ ​ ​ ​ $ 399,288 ​ ​ ​ ​ $ 379,585 ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ Animal Health ​ ​ ​ $ 5,265 ​ ​ ​ ​ $ 5,011 ​ ​ ​ ​ $ 10,519 ​ ​ ​ ​ $ 9,909 ​ ​ Mineral Nutrition ​ ​ ​ ​ 584 ​ ​ ​ ​ ​ 542 ​ ​ ​ ​ ​ 1,169 ​ ​ ​ ​ ​ 1,084 ​ ​ Performance Products ​ ​ ​ ​ 259 ​ ​ ​ ​ ​ 235 ​ ​ ​ ​ ​ 505 ​ ​ ​ ​ ​ 453 ​ ​ Total segments ​ ​ ​ $ 6,108 ​ ​ ​ ​ $ 5,788 ​ ​ ​ ​ $ 12,193 ​ ​ ​ ​ $ 11,446 ​ ​ Adjusted EBITDA ​ ​ ​ ​ ​ Animal Health ​ ​ ​ $ 35,036 ​ ​ ​ ​ $ 34,609 ​ ​ ​ ​ $ 68,778 ​ ​ ​ ​ $ 67,228 ​ ​ Mineral Nutrition ​ ​ ​ ​ 5,614 ​ ​ ​ ​ ​ 4,741 ​ ​ ​ ​ ​ 9,330 ​ ​ ​ ​ ​ 8,729 ​ ​ Performance Products ​ ​ ​ ​ 264 ​ ​ ​ ​ ​ 260 ​ ​ ​ ​ ​ 512 ​ ​ ​ ​ ​ 1,002 ​ ​ Total segments ​ ​ ​ $ 40,914 ​ ​ ​ ​ $ 39,610 ​ ​ ​ ​ $ 78,620 ​ ​ ​ ​ $ 76,959 ​ ​ ​ ​ ​ ​ Three Months ​ ​ Six Months ​ For the Periods Ended December 31 ​ ​ 2017 ​ ​ 2016 ​ ​ 2017 ​ ​ 2016 ​ Reconciliation of income before income taxes to Adjusted EBITDA ​ ​ ​ ​ ​ Income before income taxes ​ ​ ​ $ 21,211 ​ ​ ​ ​ $ 19,304 ​ ​ ​ ​ $ 40,155 ​ ​ ​ ​ $ 36,876 ​ ​ Interest expense, net ​ ​ ​ ​ 3,050 ​ ​ ​ ​ ​ 3,872 ​ ​ ​ ​ ​ 6,168 ​ ​ ​ ​ ​ 7,779 ​ ​ Depreciation and amortization – Total segments ​ ​ ​ ​ 6,108 ​ ​ ​ ​ ​ 5,788 ​ ​ ​ ​ ​ 12,193 ​ ​ ​ ​ ​ 11,446 ​ ​ Depreciation and amortization – Corporate ​ ​ ​ ​ 523 ​ ​ ​ ​ ​ 656 ​ ​ ​ ​ ​ 1,082 ​ ​ ​ ​ ​ 1,316 ​ ​ Corporate costs ​ ​ ​ ​ 8,436 ​ ​ ​ ​ ​ 8,416 ​ ​ ​ ​ ​ 16,025 ​ ​ ​ ​ ​ 15,940 ​ ​ Acquisition-related cost of goods sold ​ ​ ​ ​ 1,422 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 1,671 ​ ​ ​ ​ ​ — ​ ​ Acquisition-related accrued compensation ​ ​ ​ ​ 487 ​ ​ ​ ​ ​ 420 ​ ​ ​ ​ ​ 924 ​ ​ ​ ​ ​ 840 ​ ​ Acquisition-related transaction costs ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 400 ​ ​ ​ ​ ​ 1,274 ​ ​ Pension settlement cost ​ ​ ​ ​ — ​ ​ ​ ​ ​ 1,702 ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ 1,702 ​ ​ Foreign currency (gains) losses, net ​ ​ ​ ​ (323 ) ​ ​ ​ ​ ​ (548 ) ​ ​ ​ ​ ​ 2 ​ ​ ​ ​ ​ (214 ) ​ ​ Adjusted EBITDA – Total segments ​ ​ ​ $ 40,914 ​ ​ ​ ​ $ 39,610 ​ ​ ​ ​ $ 78,620 ​ ​ ​ ​ $ 76,959 ​ ​ ​ As of ​ ​ December 31, 2017 ​ ​ June 30, 2017 ​ Identifiable assets ​ ​ ​ Animal Health ​ ​ ​ $ 465,058 ​ ​ ​ ​ $ 442,521 ​ ​ Mineral Nutrition ​ ​ ​ ​ 63,407 ​ ​ ​ ​ ​ 55,184 ​ ​ Performance Products ​ ​ ​ ​ 23,541 ​ ​ ​ ​ ​ 23,681 ​ ​ Total segments ​ ​ ​ ​ 552,006 ​ ​ ​ ​ ​ 521,386 ​ ​ Corporate ​ ​ ​ ​ 111,124 ​ ​ ​ ​ ​ 102,011 ​ ​ Total ​ ​ ​ $ 663,130 ​ ​ ​ ​ $ 623,397 ​ ​ ​

Summary of Significant Accoun27

Summary of Significant Accounting Policies and New Accounting Standards (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Net income	$ 7,032	$ 13,417	$ 22,924	$ 25,594
Weighted average number of shares - basic (in shares)	40,186	39,411	40,065	39,409
Dilutive effect of stock options	178	591	264	545
Weighted average number of shares - diluted (in shares)	40,364	40,002	40,329	39,954
Net income per share
basic (in dollars per share)	$ 0.17	$ 0.34	$ 0.57	$ 0.65
diluted (in dollars per share)	$ 0.17	$ 0.34	$ 0.57	$ 0.64

Statements of Operations-Addi28

Statements of Operations-Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Interest expense, net
Amortization of debt issuance costs and debt discount	$ 220	$ 255	$ 441	$ 508
Acquisition-related accrued interest	252	462	505	855
Other	2	47	241	128
Interest expense	3,323	4,361	6,750	8,948
Interest (income)	(273)	(489)	(582)	(1,169)
Interest expense, net	3,050	3,872	6,168	7,779
Depreciation and amortization
Depreciation of property, plant and equipment	5,222	4,952	10,405	9,683
Amortization of intangible assets	1,397	1,434	2,846	2,962
Amortization of other assets	12	58	24	117
Depreciation and amortization	6,631	6,444	13,275	12,762
Term loan
Interest expense, net
Interest expense	2,110	2,866	4,143	5,771
Revolving credit facility
Interest expense, net
Interest expense	$ 739	$ 731	$ 1,420	$ 1,686

Balance Sheets-Additional Inf29

Balance Sheets-Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Jun. 30, 2017
Inventories
Raw materials	$ 65,976	$ 54,861
Work-in-process	13,325	12,402
Finished goods	94,312	93,970
Inventory, net	$ 173,613	$ 161,233

Balance Sheets-Additional Inf30

Balance Sheets-Additional Information (Details 1) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2017	Jun. 30, 2017
Goodwill roll-forward
Balance at beginning of period	$ 23,982	$ 21,121
Purchase price allocation adjustment	0	2,861
Acquisition	5,642	0
Balance at end of period	$ 29,624	$ 23,982

Balance Sheets-Additional Inf31

Balance Sheets-Additional Information (Details 2) - USD ($) $ in Thousands	Dec. 31, 2017	Jun. 30, 2017
Accrued expenses and other current liabilities
Employee related	$ 22,590	$ 26,553
Commissions and rebates	5,830	6,443
Insurance related	1,549	1,515
Professional fees	3,944	3,823
Income and other taxes	4,000	3,035
Other	15,086	11,283
Accrued expenses and other current liabilities, total	52,999	52,652
Accumulated other comprehensive income (loss)
Derivative instruments	1,788	2,686
Foreign currency translation adjustment	(45,328)	(43,556)
Unrecognized net pension gains (losses)	(17,833)	(18,059)
(Provision) benefit for income taxes on derivative instruments	(483)	(1,553)
(Provision) benefit for incomes taxes on long-term intercompany investments	8,166	8,166
(Provision) benefit for income taxes on pension gains (losses)	(3,195)	(3,121)
Accumulated other comprehensive income (loss)	$ (56,885)	$ (55,437)

Balance Sheets-Additional Inf32

Balance Sheets-Additional Information (Detail Textuals) - USD ($) $ in Thousands	1 Months Ended
	Sep. 30, 2017	Dec. 31, 2017
Balance Sheets Additional Information [Abstract]
Amount of acquired business approximately	$ 15,000
Equity method investments		$ 3,905

Debt - Summary of long-term deb

Debt - Summary of long-term debt (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Jun. 30, 2017
Debt Instrument [Line Items]
Long-term debt including current maturities	$ 247,041	$ 250,000
Unamortized debt issuance costs and debt discount	(1,673)	(1,859)
Long-term debt after debt issuance costs	245,368	248,141
Less: current maturities	(9,458)	(6,250)
Long-term debt	235,910	241,891
Term A Loan due June 2022
Debt Instrument [Line Items]
Term A Loan due June 2022	246,875	250,000
Capitalized lease obligations
Debt Instrument [Line Items]
Capitalized lease obligations	$ 166	$ 0

Debt (Detail Textuals)

Debt (Detail Textuals) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2017	Jul. 31, 2017	Jun. 30, 2017
Debt Instrument [Line Items]
Revolving credit facility	$ 71,000		$ 65,000
Interest rate swap
Debt Instrument [Line Items]
Percentage of interest rate		1.8325%
Derivative, notional amount		$ 150,000
Credit agreement (the "Credit Agreement") | Revolving credit facility (the "Revolver")
Debt Instrument [Line Items]
Maximum borrowing capacity	250,000
Revolving credit facility	71,000
Outstanding letters of credit	4,606
Aggregate available credit facilities	$ 174,394
Weighted-average interest rates	3.01%
Credit agreement (the "Credit Agreement") | Term A Loan and together with the Revolver, "Credit Facilities" | LIBOR
Debt Instrument [Line Items]
Interest rate, description	2.00%, 1.75% or 1.50%
Floor rate	0.00%
Credit agreement (the "Credit Agreement") | Term A Loan and together with the Revolver, "Credit Facilities" | Eurodollar
Debt Instrument [Line Items]
Interest rate, description	2.00%, 1.75% or 1.50%
Credit agreement (the "Credit Agreement") | Term A Loan and together with the Revolver, "Credit Facilities" | Base Rate
Debt Instrument [Line Items]
Interest rate, description	1.00%, 0.75% or 0.50%
Credit agreement (the "Credit Agreement") | Term A Loan
Debt Instrument [Line Items]
Aggregate principal amount	$ 250,000
Weighted-average interest rates	3.29%

Related Party Transactions (Det

Related Party Transactions (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Relatives of Jack C. Bendheim | Compensation and benefit for services provided
Related Party Transaction [Line Items]
Aggregate compensation and benefits	$ 409	$ 445	$ 1,129	$ 1,047

Employee Benefit Plans (Detail

Employee Benefit Plans (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2016	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Pension curtailment gain		$ 6,822
Partial settlement of the pension plan	$ 1,702

Income Taxes (Detail Textuals)

Income Taxes (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2017
Income Tax Disclosure [Line Items]
TCJA remeasurement of deferred tax assets and liabilities			$ 2,450
TCJA deemed repatriation tax expense			4,249
Provision for income taxes and reduction in accumulated other comprehensive income			527
Provision for income taxes and reduction in deferred tax assets for remeasurement of deferred tax assets to reflect a reduced income tax rate in certain international jurisdictions			1,000
TCJA change in tax rate adjustment income tax expense (benefit) exercise of employee stock options	$ 387	$ 460	$ (2,359)
Fiscal year ending June 30, 2018 | Forecast
Income Tax Disclosure [Line Items]
FY 2018 Weighted average income tax rate			28.10%
Fiscal year beginning July 1, 2018
Income Tax Disclosure [Line Items]
FY 2019 statutory federal income tax rate			21.00%

Commitments and Contingencies (

Commitments and Contingencies (Detail Textuals) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Sep. 30, 2012PRPs	Dec. 31, 2017USD ($)	Jun. 30, 2017USD ($)
Commitments And Contingencies [Line Items]
Number of potentially responsible parties | PRPs	140
Current and long-term liabilities
Commitments And Contingencies [Line Items]
Accrual for environmental loss contingencies payments | $		$ 6,866	$ 7,211

Derivatives (Details)

Derivatives (Details) - Cash flow hedges BRL in Thousands, $ in Thousands	Dec. 31, 2017USD ($)	Dec. 31, 2017BRL	Jun. 30, 2017USD ($)
Options | Brazilian Real calls
Derivative [Line Items]
Notional amount | BRL		BRL 0
Options | Brazilian Real calls | Other current assets
Derivative [Line Items]
Fair value	$ 0		$ 2,686
Swap | Interest rate swap
Derivative [Line Items]
Notional amount	150,000
Swap | Interest rate swap | Other assets
Derivative [Line Items]
Fair value	$ 1,788		$ 0

Derivatives (Details 1)

Derivatives (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Derivative [Line Items]
Cost of goods sold	$ 138,957	$ 128,100	$ 268,987	$ 255,088
Interest expense, net	3,050	3,872	6,168	7,779
Options | Cash flow hedges | Brazilian Real calls | Cost of goods sold
Derivative [Line Items]
Gain (loss) recognized in consolidated statements of operations	517	(393)	703	(1,528)
Options | Cash flow hedges | Brazilian Real calls | Other comprehensive income (loss)
Derivative [Line Items]
Gain (loss) recorded in OCI	(1,781)	270	(2,686)	304
Swap | Interest rate swap | Cash flow hedges | Interest expense, net
Derivative [Line Items]
Interest expense, net	0	0	0	0
Swap | Interest rate swap | Cash flow hedges | Other comprehensive income (loss)
Derivative [Line Items]
Gain (loss) recorded in OCI	$ 1,505	$ 0	$ 1,788	$ 0

Derivatives (Detail Textuals)

Derivatives (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Jun. 30, 2017	Jul. 31, 2017
Options | Cash flow hedges | Cost of goods sold
Derivative [Line Items]
Gain (loss) on matured contracts, record to Inventory			$ 3,254		$ 966
Recognize gains in costs of goods sold in next three months	$ 263		263
Options | Cash flow hedges | Cost of goods sold | Brazilian Real calls
Derivative [Line Items]
Realized gains (losses) on hedging derivatives recognized in cost of goods sold	$ 517	$ (393)	$ 703	$ (1,528)
Interest rate swap
Derivative [Line Items]
Percentage of interest rate						1.8325%
Derivative, notional amount						$ 150,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Jun. 30, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	$ 27,000
Level 1 | Fair values
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	27,000	$ 0
Derivatives asset	0	0
Interest rate swap	0	0
Contingent consideration on acquisitions	0	0
Level 2 | Fair values
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Derivatives asset	0	2,686
Interest rate swap	1,788	0
Contingent consideration on acquisitions	0	0
Level 3 | Fair values
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term investments	0	0
Derivatives asset	0	0
Interest rate swap	0	0
Contingent consideration on acquisitions	$ (8,079)	$ (7,644)

Fair Value Measurements (Deta43

Fair Value Measurements (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Business Combination Contingent Consideration Liability [Roll Forward]
Acquisition-related accrued interest	$ (252)	$ (462)	$ (505)	$ (855)
Fair values | Level 3
Business Combination Contingent Consideration Liability [Roll Forward]
Balance, June 30, 2017			(7,644)
Acquisition-related accrued interest			(505)
Payment			70
Balance, December 31, 2017	$ (8,079)		$ (8,079)

Business Segments (Details)

Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Jun. 30, 2017
Segment Reporting Information [Line Items]
Net sales	$ 205,876	$ 191,598	$ 399,288	$ 379,585
Depreciation and amortization	6,631	6,444	13,275	12,762
Reconciliation of income before income taxes to Adjusted EBITDA
Income before income taxes	21,211	19,304	40,155	36,876
Interest expense, net	(3,050)	(3,872)	(6,168)	(7,779)
Depreciation and amortization	6,631	6,444	13,275	12,762
Acquisition-related accrued compensation			924	840
Pension settlement cost				1,702
Foreign currency (gains) losses, net	(323)	(548)	2	(214)
Identifiable assets	663,130		663,130		$ 623,397
Operating Segments
Segment Reporting Information [Line Items]
Net sales	205,876	191,598	399,288	379,585
Depreciation and amortization	6,108	5,788	12,193	11,446
Adjusted EBITDA - Total segments	40,914	39,610	78,620	76,959
Reconciliation of income before income taxes to Adjusted EBITDA
Income before income taxes	21,211	19,304	40,155	36,876
Interest expense, net	3,050	3,872	6,168	7,779
Depreciation and amortization	6,108	5,788	12,193	11,446
Acquisition-related cost of goods sold	1,422	0	1,671	0
Acquisition-related accrued compensation	487	420	924	840
Acquisition-related transaction costs	0	0	400	1,274
Pension settlement cost	0	1,702	0	1,702
Foreign currency (gains) losses, net	(323)	(548)	(2)	(214)
Adjusted EBITDA - Total segments	40,914	39,610	78,620	76,959
Identifiable assets	552,006		552,006		521,386
Operating Segments | Animal Health
Segment Reporting Information [Line Items]
Net sales	132,845	123,673	261,686	248,174
Depreciation and amortization	5,265	5,011	10,519	9,909
Adjusted EBITDA - Total segments	35,036	34,609	68,778	67,228
Reconciliation of income before income taxes to Adjusted EBITDA
Depreciation and amortization	5,265	5,011	10,519	9,909
Adjusted EBITDA - Total segments	35,036	34,609	68,778	67,228
Identifiable assets	465,058		465,058		442,521
Operating Segments | Mineral Nutrition
Segment Reporting Information [Line Items]
Net sales	59,616	56,699	111,689	108,291
Depreciation and amortization	584	542	1,169	1,084
Adjusted EBITDA - Total segments	5,614	4,741	9,330	8,729
Reconciliation of income before income taxes to Adjusted EBITDA
Depreciation and amortization	584	542	1,169	1,084
Adjusted EBITDA - Total segments	5,614	4,741	9,330	8,729
Identifiable assets	63,407		63,407		55,184
Operating Segments | Performance Products
Segment Reporting Information [Line Items]
Net sales	13,415	11,226	25,913	23,120
Depreciation and amortization	259	235	505	453
Adjusted EBITDA - Total segments	264	260	512	1,002
Reconciliation of income before income taxes to Adjusted EBITDA
Depreciation and amortization	259	235	505	453
Adjusted EBITDA - Total segments	264	260	512	1,002
Identifiable assets	23,541		23,541		23,681
Corporate
Segment Reporting Information [Line Items]
Depreciation and amortization	523	656	1,082	1,316
Reconciliation of income before income taxes to Adjusted EBITDA
Depreciation and amortization	523	$ 656	1,082	$ 1,316
Identifiable assets	$ 111,124		$ 111,124		$ 102,011

Business Segments (Detail Textu

Business Segments (Detail Textuals) - USD ($) $ in Thousands	Dec. 31, 2017	Jun. 30, 2017
Segment Reporting Information [Line Items]
Equity method investments	$ 3,905
Animal Health
Segment Reporting Information [Line Items]
Equity method investments	3,905	$ 3,719
Performance Products
Segment Reporting Information [Line Items]
Equity method investments	$ 624	$ 516