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v3.25.1

Pension Benefits | 9 Months Ended
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Mar. 31, 2025
Defined Benefit Pension Plan [Member] |
Defined Benefit Plan Disclosure [Line Items] |
Pension Benefits | Pension Benefits Prior to November 30, 2024, we sponsored multiple defined benefit pension plans that covered certain former employees under collective bargaining contracts related to closed or sold operations. All these plans were previously frozen. In August 2024, our Board of Directors approved the merger of all five pension plans and the termination of the resulting merged plan. The merged plan was terminated effective November 30, 2024. Lump sum distributions and annuity purchases from a highly rated insurance company were completed in December 2024. No additional pension plan contributions were required. As a result of the pension termination, we incurred a one-time noncash settlement charge of $14.0 million for the nine months ended March 31, 2025. The following table summarizes the components of net periodic benefit cost for our pension plans:
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
Components of net periodic benefit cost |  |  |  |  |  |  |
Interest cost | $ | — |  |  | $ | 345 |  |  | $ | 659 |  |  | $ | 1,036 |
Expected return on plan assets | — |  |  | (343) |  |  | (668) |  |  | (1,031) |
Amortization of unrecognized net loss | — |  |  | 158 |  |  | 294 |  |  | 475 |
Settlement charge | — |  |  | — |  |  | 13,968 |  |  | — |
Net periodic benefit cost | $ | — |  |  | $ | 160 |  |  | $ | 14,253 |  |  | $ | 480 |
The pension settlement charge is separately presented in the Condensed Consolidated Statements of Income. The other components of net periodic benefit cost are included in Other, Net.

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