XML 65 R44.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Employee Benefit Plans (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2017
Compensation And Retirement Disclosure [Abstract] |
Schedule of Changes in Projected Benefit Obligations and Plan Assets | The funded status of the Swiss Plan in the fiscal years ended June 30, 2017 and 2016 were as follows:
Year Ended June 30, |  | 2017 |  |  | 2016 |
Change in projected benefit obligation: |  |  |  |  |  |  |  |
Projected benefit obligation, beginning of period |  | $ | 54,094 |  |  | $ | 42,575 |
Service cost |  |  | 3,689 |  |  |  | 2,680 |
Interest cost |  |  | 163 |  |  |  | 434 |
Participant contributions |  |  | 1,262 |  |  |  | 1,046 |
Benefits received |  |  | 1,743 |  |  |  | 1,567 |
Actuarial (gain) loss on obligation |  |  | (2,777 | ) |  |  | 8,071 |
Currency translation adjustment |  |  | 1,344 |  |  |  | (2,279 | )
Projected benefit obligation, end of period |  | $ | 59,518 |  |  | $ | 54,094 |
Change in plan assets: |  |  |  |  |  |  |  |
Plan assets at fair value, beginning of period |  |  | 35,857 |  |  |  | 32,509 |
Actual return on plan assets |  |  | 805 |  |  |  | 431 |
Employer contributions |  |  | 2,432 |  |  |  | 2,043 |
Participant contributions |  |  | 1,262 |  |  |  | 1,046 |
Benefits received |  |  | 1,743 |  |  |  | 1,567 |
Currency translation adjustment |  |  | 891 |  |  |  | (1,739 | )
Plan assets at fair value, end of period |  | $ | 42,990 |  |  | $ | 35,857 |
Amounts recognized in consolidated balance sheets: |  |  |  |  |  |  |  |
Other non-current assets: |  |  |  |  |  |  |  |
Deferred tax asset |  | $ | 3,496 |  |  | $ | 3,857 |
Other non-current liabilities: |  |  |  |  |  |  |  |
Underfunded pension liability |  | $ | 16,528 |  |  |  | 18,237 |
Amounts recognized in accumulated other comprehensive income, net of tax: |  |  |  |  |  |  |  |
Pension adjustment |  | $ | 2,514 |  |  | $ | (7,031 | )
Accumulated benefit obligation, end of period |  | $ | 56,457 |  |  | $ | 50,772 |
Schedule of Net Periodic Pension Costs | Net periodic pension cost associated with the Swiss Plan included the following components:
Year Ended June 30, |  | 2017 |  |  | 2016 |
Service cost |  | $ | 3,689 |  |  | $ | 2,680 |
Interest cost |  |  | 163 |  |  |  | 434 |
Expected return on plan assets |  |  | (742 | ) |  |  | (1,097 | )
Prior service cost |  |  | 594 |  |  |  | (234 | )
Net period pension cost |  | $ | 3,704 |  |  | $ | 1,783 |
Schedule of Projected and Accumulated Benefit Obligations Rates | The projected and accumulated benefit obligations for the Swiss Plan were calculated as of June 30, 2017 and 2016 using the following assumptions:
Year Ended June 30, |  | 2017 |  |  | 2016 |
Discount rate |  |  | 0.8 | % |  |  | 0.3 | %
Salary increase rate |  |  | 2.0 | % |  |  | 2.0 | %
Expected return on plan assets |  |  | 2.0 | % |  |  | 2.0 | %
Expected average remaining working life (in years) |  | 9.9 |  |  |  | 10.2 |
Schedule of Swiss Plan's Asset Allocation | The Swiss Plan is legally separate from II-VI, as are the assets of the plan. As of June 30, 2017, the Swiss Plan’s asset allocation was as follows:
Year Ended June 30, |  | 2017 |  |  | 2016 |
Fixed income investments |  |  | 10.0 | % |  |  | 15.0 | %
Equity investments |  |  | 52.0 | % |  |  | 51.0 | %
Real estate |  |  | 26.0 | % |  |  | 28.0 | %
Cash |  |  | 9.0 | % |  |  | 3.0 | %
Alternative investments |  |  | 3.0 | % |  |  | 3.0 | %
|  |  | 100.0 | % |  |  | 100.0 | %
Schedule of Estimated Future Benefit Payments Under Swiss Plan | Estimated future benefit payments under the Swiss Plan are estimated to be as follows:
Year Ending June 30, |  |  |  |
($000) |  |  |  |
2018 |  | $ | 2,683 |
2019 |  |  | 4,062 |
2020 |  |  | 1,575 |
2021 |  |  | 2,533 |
2022 |  |  | 2,681 |
Next five years |  |  | 19,163 |

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefit obligations including accumulated benefit obligation and projected benefit obligation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAccumulatedAndProjectedBenefitObligationsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfChangesInProjectedBenefitObligationsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfCostsOfRetirementPlansTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration