XML 122 R21.htm IDEA: XBRL DOCUMENT
v3.2.0.727

Postretirement Benefits | 12 Months Ended
--- | ---
Jun. 30, 2015
Postretirement Benefits [Member] |
Defined Benefit Plan Disclosure [Line Items] |
Postretirement Benefits | Postretirement Benefits Postretirement Medical and Life Insurance Benefit Plans We and certain of our operating subsidiaries provide multiple postretirement medical and life insurance benefit plans. We recognize the cost of benefits as the employees render service. Postretirement benefits are funded as incurred. At the end of the year, we discount our plan liabilities using an assumed discount rate. In estimating this rate, we, along with our third-party actuaries, review the projected timing of future benefit payments, bond indices, consider yield curve analysis results and the past history of discount rates. The actuarial present value of benefit obligations summarized below was based on the following assumption:
| 2015 |  | 2014
Weighted-average assumption as of June 30 |  |  |
Discount rate | 4.12 | % |  | 4.02 | %
The net periodic benefit costs were determined utilizing the following beginning-of-the-year assumptions:
| 2015 |  | 2014 |  | 2013
Discount rate | 4.02 | % |  | 4.57 | % |  | 3.78 | %
Health care cost trend rate - pre-Medicare eligible claims | 7.50 | % |  | 8.00 | % |  | 10.00 | %
Health care cost trend rate - Medicare eligible claims | 6.75 | % |  | 7.00 | % |  | 7.00 | %
Relevant information with respect to our postretirement medical and life insurance benefits as of June 30 can be summarized as follows:
| 2015 |  | 2014
Change in benefit obligation |  |  |
Benefit obligation at beginning of year | $ | 2,779 |  |  | $ | 2,934 |
Service cost | 32 |  |  | 31 |
Interest cost | 108 |  |  | 130 |
Actuarial loss (gain) | 155 |  |  | (31 | )
Curtailment gain | — |  |  | (161 | )
Plan participant contributions | 49 |  |  | 53 |
Benefits paid | (148 | ) |  | (177 | )
Benefit obligation at end of year | $ | 2,975 |  |  | $ | 2,779 |
| 2015 |  | 2014
Change in plan assets |  |  |
Employer contributions | $ | 99 |  |  | $ | 124 |
Plan participant contributions | 49 |  |  | 53 |
Benefits paid | (148 | ) |  | (177 | )
Fair value of plan assets at end of year | $ | — |  |  | $ | — |
| 2015 |  | 2014
Reconciliation of funded status |  |  |
Net accrued benefit cost | $ | (2,975 | ) |  | $ | (2,779 | )
| 2015 |  | 2014
Amounts recognized in the consolidated balance sheets consist of |  |  |
Current accrued benefit liability | $ | (169 | ) |  | $ | (171 | )
Noncurrent accrued benefit liability | $ | (2,806 | ) |  | $ | (2,608 | )
| 2015 |  | 2014
Accumulated benefit obligation | $ | 2,975 |  |  | $ | 2,779 |
Amounts recognized in accumulated other comprehensive loss at June 30 were as follows:
| 2015 |  | 2014
Net actuarial gain | $ | (605 | ) |  | $ | (788 | )
Prior service benefit | (8 | ) |  | (13 | )
Income taxes | 226 |  |  | 296 |
Total | $ | (387 | ) |  | $ | (505 | )
Amounts in accumulated other comprehensive loss expected to be recognized as components of net periodic benefit cost during the next fiscal year are as follows:
| 2016
Prior service asset amortization | $ | (5 | )
Unrecognized gain amortization | (17 | )
Total | $ | (22 | )
The following table summarizes the components of net periodic benefit cost (income) for our postretirement plans at June 30:
| 2015 |  | 2014 |  | 2013
Components of net periodic benefit cost (income) |  |  |  |  |
Service cost | $ | 32 |  |  | $ | 31 |  |  | $ | 31 |
Interest cost | 108 |  |  | 130 |  |  | 113 |
Curtailment benefit | — |  |  | (161 | ) |  | — |
Amortization of unrecognized net gain | (28 | ) |  | (27 | ) |  | (22 | )
Amortization of prior service asset | (5 | ) |  | (5 | ) |  | (5 | )
Net periodic benefit cost (income) | $ | 107 |  |  | $ | (32 | ) |  | $ | 117 |
The above noted net periodic benefit cost (income) includes income of $0.1 million for 2014, and an immaterial amount for 2013, that are presented in discontinued operations because those amounts relate to sold operations. In 2014, our plans experienced a curtailment due to a significant reduction in future service as a result of the sale of our candle manufacturing and marketing operations. We expect to contribute approximately $0.2 million to our postretirement benefit plans in 2016. Benefit payments estimated for future years are as follows:
2016 | $ | 169 |
2017 | $ | 160 |
2018 | $ | 168 |
2019 | $ | 175 |
2020 | $ | 182 |
2021 - 2025 | $ | 923 |
The following table summarizes the health care costs trend assumptions for other postretirement benefit measurement purposes:
| 2015 |  | 2014
Pre-Medicare eligible claims: |  |  |
Health care cost trend rate assumed for next fiscal year | 7.50 | % |  | 7.50 | %
Ultimate health care cost trend rate | 5.00 | % |  | 5.00 | %
Year that rate reaches ultimate trend rate | 2024 |  |  | 2021 |
Medicare eligible claims: |  |  |
Health care cost trend rate assumed for next fiscal year | 8.00 | % |  | 6.75 | %
Ultimate health care cost trend rate | 5.00 | % |  | 5.00 | %
Year that rate reaches ultimate trend rate | 2024 |  |  | 2021 |
Assumed health care cost rates can have a significant effect on the amounts reported for the health care plans. A one-percentage-point change in assumed health care cost trend rates would have the following effect:
| 1-Percentage-Point Increase |  | 1-Percentage-Point Decrease
Effect on total of service and interest cost components | $ | 10 |  |  | $ | (8 | )
Effect on postretirement benefit obligation as of June 30, 2015 | $ | 233 |  |  | $ | (203 | )

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DefinedBenefitPlanDisclosureLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=35742057&loc=SL14450702-114947 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35743120&loc=d3e2410-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39675-114964 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6414718&loc=d3e28014-114942 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6414199&loc=d3e39622-114963 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis=us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |