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EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
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Jun. 30, 2018
EMPLOYEE BENEFIT PLANS |
Schedule of the changes in the plans' benefit obligations, fair value of assets and funded status | The following provides a reconciliation of the changes in the plans' benefit obligations and fair value of assets for fiscal years 2017 and 2018, and a statement of the funded status as of June 30, 2017 and 2018 (in thousands):
|  | 2017 |  | 2018 |
Change in Benefit Obligation |  |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | 13,305 |  | $ | 13,726 |
Translation adjustment |  |  | (88 | ) |  | 57 |
Interest costs |  |  | 453 |  |  | 467 |
Curtailment |  |  | — |  |  | (369 | )
Actuarial (gain) loss |  |  | 435 |  |  | 61 |
Benefits paid |  |  | (379 | ) |  | (162 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Benefit obligation at end of year |  |  | 13,726 |  |  | 13,780 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Change in Plan Assets |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  |  | 5,210 |  |  | 5,555 |
Translation adjustment |  |  | (122 | ) |  | 43 |
Actual return on plan assets |  |  | 745 |  |  | 388 |
Company contributions |  |  | 65 |  |  | — |
Benefits paid |  |  | (343 | ) |  | (116 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value of plan assets at end of year |  |  | 5,555 |  |  | 5,870 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Funded status |  |  | (8,171 | ) |  | (7,910 | )
Unrecognized net actuarial loss |  |  | — |  |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net amount recognized |  | $ | (8,171 | ) | $ | (7,910 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amount recognized in consolidated balance sheets consists of: |  |  |  |  |  |  |
Investments |  | $ | 759 |  | $ | 1,065 |
Accrued pension liability |  |  | (8,051 | ) |  | (8,975 | )
Accumulated other comprehensive income |  |  | 2,016 |  |  | 1,202 |
Schedule of net periodic benefit costs | The following table provides the net periodic benefit costs for each of the fiscal years ended June 30, (in thousands):
|  | 2016 |  | 2017 |  | 2018 |
Net Periodic Benefit Costs |  |  |  |  |  |  |  |  |  |
Interest costs |  | $ | 582 |  | $ | 453 |  | $ | 467 |
Expected return on plan assets |  |  | (303 | ) |  | (200 | ) |  | (203 | )
Amortization of prior service costs |  |  | 420 |  |  | 279 |  |  | 249 |
Recognized actuarial loss |  |  | 43 |  |  | 317 |  |  | 305 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net periodic benefit cost |  | $ | 742 |  | $ | 849 |  | $ | 818 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of plan assumptions |
|  | 2017 |  | 2018 |
Weighted average assumptions at year-end: |  |  |  |  |  |  |
Discount rate |  |  | 3.4 | % |  | 3.4 | %
Expected return on plan assets |  |  | 3.8 | % |  | 4.7 | %
Rate of compensation increase |  |  | 3.0 | % |  | 3.0 | %
Schedule of plan assets and investment policy |
|  | Fiscal year ended June 30, 2017 |  | Fiscal year ended June 30, 2018 |
|  | Proportion of Fair Value |  | Expected Rate of Return |  | Proportion of Fair Value |  | Expected Rate of Return |
Equity securities |  |  | 51 | % |  | 6 | % |  | 83 | % |  | 6 | %
Debt securities |  |  | 41 | % |  | 2 | % |  | 17 | % |  | 1 | %
Other |  |  | 8 | % |  | 1 | % |  | — | % |  | — | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Combined |  |  | 100 | % |  | 3.8 | % |  | 100 | % |  | 4.7 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Schedule of estimated benefits payments, based upon the same assumptions used to measure the benefit obligation and net pension cost | The following table reflects estimated benefits payments, based upon the same assumptions used to measure the benefit obligation and net pension cost, as of June 30, 2018 (in thousands):
|  | Pension Benefits |
July 1, 2018 to June 30, 2019 |  |  | 156 |
July 1, 2019 to June 30, 2020 |  |  | 160 |
July 1, 2020 to June 30, 2021 |  |  | 174 |
July 1, 2021 to June 30, 2022 |  |  | 179 |
July 1, 2022 to June 30, 2023 |  |  | 202 |
July 1, 2023 to June 30, 2028 |  |  | 10,911 |

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- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + 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 (k) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
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- 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
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + 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 (h) -URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920 + Details
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