10 . Commitments and Contingencies The Company is party to certain lawsuits in the ordinary course of business. The Company does not believe that these proceedings, individually or in the aggregate, will have a material adverse effect on the Companys financial position, results of operations or cash flows. The Internal Revenue Service (IRS) completed its field examination of the Companys tax returns for fiscal years 2009 through 2011 and issued a Revenue Agents Report on May 27, 2015 , which was updated on June 22, 2016, proposing adjustments primarily related to U.S. taxation of certain intercompany transactions. If the IRS ultimately prevails in its positions, the Companys income tax payment due for the fiscal years 2009 through 201 1 would be approximately $ 28.6 million after utilization of tax loss carry forwards available through fiscal year 2011. Also, the IRS has proposed interest and penalties with respect to fiscal years 2009 through 2011. The IRS may make similar claims in fut ure audits with respect to these types of transactions. At this time, anticipating the amount of any future IRS proposed adjustments, interest, and penalties is not practicable. The Company disagrees with the proposed adjustments and intends to vigorous ly contest these matters through the applicable IRS administrative and judicial procedures, as appropriate. As the final resolution of the proposed adjustments remains uncertain, the Company continues to provide for the uncertain tax positions based on the more likely than not standard. While the resolution of the issues may result in tax liabilities, interest and penalties, which are significantly higher than the amounts accrue d for these matters, management currently believes that the resolution will not have a material adverse effect on the Companys financial position, results of operations or cash flows. Despite this belief, an unfavorable resolution, particularly if the IRS successfully asserts similar claims for later years, could have a material adv erse effect on t