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Summary Of Significant Accounting Policies
 3 Months Ended
Sep. 30, 2013
Accounting Policies [Abstract]  
Summary Of Significant Accounting Policies
Summary of Significant Accounting Policies
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and SEC Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In our opinion, the interim condensed consolidated financial statements reflect all adjustments necessary for a fair presentation of the results of operations and financial position for such periods. All such adjustments reflected in the interim condensed consolidated financial statements are considered to be of a normal recurring nature. The results of operations for any interim period are not necessarily indicative of results for the full year. Accordingly, these financial statements should be read in conjunction with the financial statements and notes thereto contained in our 2013 Annual Report on Form 10-K. Unless otherwise noted, the term “year” and references to a particular year pertain to our fiscal year, which begins on July 1 and ends on June 30; for example, 2014 refers to fiscal 2014, which is the period from July 1, 2013 to June 30, 2014.
Property, Plant and Equipment
Property, plant and equipment are stated at cost less accumulated depreciation. Purchases of property, plant and equipment included in accounts payable and excluded from the property additions and the change in accounts payable in the Condensed Consolidated Statements of Cash Flows were as follows:
 
 
September 30,
 
2013
 
2012
Construction in progress in accounts payable
$
292

 
$
721


Earnings Per Share
Earnings per share (“EPS”) is computed based on the weighted average number of shares of common stock and common stock equivalents (restricted stock and stock-settled stock appreciation rights) outstanding during each period. Unvested shares of restricted stock granted to employees are considered participating securities since employees receive nonforfeitable dividends prior to vesting and, therefore, are included in the earnings allocation in computing EPS under the two-class method. Basic EPS excludes dilution and is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing income available to common shareholders by the diluted weighted average number of common shares outstanding during the period, which includes the dilutive potential common shares associated with nonparticipating restricted stock and stock-settled stock appreciation rights.

Basic and diluted net income per common share were calculated as follows:
 
 
Three Months Ended 
 September 30,
 
2013
 
2012
Net income
$
24,801

 
$
26,662

Net income available to participating securities
(34
)
 
(53
)
Net income available to common shareholders
$
24,767

 
$
26,609

Weighted average common shares outstanding – basic
27,268

 
27,229

Incremental share effect from:
 
 
 
Nonparticipating restricted stock
5

 
5

Stock-settled stock appreciation rights
39

 
30

Weighted average common shares outstanding – diluted
27,312

 
27,264

Net income per common share – basic and diluted
$
0.91

 
$
0.98



Reclassifications Out of Accumulated Other Comprehensive Loss
The following table presents the amounts reclassified out of accumulated other comprehensive loss by component:
 
Three Months Ended 
 September 30,
 
2013
 
2012
Accumulated other comprehensive loss at beginning of period
$
(8,391
)
 
$
(12,162
)
Defined Benefit Pension Plan Items:
 
 
 
Amortization of unrecognized net loss (1)
115

 
172

Postretirement Benefit Plan Items:
 
 
 
Amortization of unrecognized net gain (1)
(7
)
 
(5
)
Amortization of prior service asset (1)
(1
)
 
(1
)
Total other comprehensive income, before tax
107

 
166

Total tax expense
(40
)
 
(62
)
Other comprehensive income, net of tax
67

 
104

Accumulated other comprehensive loss at end of period
$
(8,324
)
 
$
(12,058
)

(1) Included in the computation of net periodic benefit income/cost. See Notes 7 and 8 for additional information.
Significant Accounting Policies
There were no changes to our Significant Accounting Policies from those disclosed in our 2013 Annual Report on Form 10-K.