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EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

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

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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​

​

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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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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
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
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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)
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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)
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Tabular disclosure of net funded status of pension plans and/or other employee benefit plans.

+ 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 (c)
-URI http://asc.fasb.org/extlink&oid=82843861&loc=d3e1928-114920

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