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EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Jun. 30, 2019

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 2018 and 2019, and a statement of the funded status as of June 30, 2018 and 2019 (in thousands):

		2018			2019
Change in Benefit Obligation
Benefit obligation at beginning of year		$	13,726		$	13,780
Translation adjustment			57			(166)
Interest costs			467			457
Service costs			—			223
Curtailment			(369)			—
Actuarial (gain) loss			61			(82)
Benefits paid			(162)			(153)
Benefit obligation at end of year			13,780			14,059
Change in Plan Assets
Fair value of plan assets at beginning of year			5,555			5,870
Translation adjustment			43			(183)
Actual return on plan assets			388			201
Benefits paid			(116)			(107)
Fair value of plan assets at end of year			5,870			5,781
Funded status and net amount recognized		$	(7,910)		$	(8,278)
Amount recognized in consolidated balance sheets consists of:
Investments		$	1,065		$	1,034
Accrued pension liability			(8,975)			(9,312)
Accumulated other comprehensive income			1,202			1,019

Schedule of net periodic pension expense

The following table provides the net periodic benefit costs for the fiscal years ended June 30, (in thousands):

		2017			2018			2019
Net Periodic Benefit Costs
Interest costs		$	453		$	467		$	457
Service costs			—			—			223
Expected return on plan assets			(200)			(203)			(270)
Amortization of prior service costs			279			249			56
Recognized actuarial loss			317			305			103
Net periodic benefit cost		$	849		$	818		$	569

Schedule of plan assumptions

		2018		2019
Weighted average assumptions at year-end:
Discount rate		3.4	%	3.2	%
Expected return on plan assets		4.7	%	4.4	%
Rate of compensation increase		3.0	%	2.9	%

Schedule of plan assets and investment policy

		Fiscal year ended				Fiscal year ended
		June 30,  2018				June 30,  2019
		Proportion of		Expected Rate		Proportion of		Expected Rate
		Fair Value		of Return		Fair Value		of Return
Equity securities		83	%	6	%	82	%	5	%
Debt securities		17	%	1	%	17	%	1	%
Cash		—	%	—	%	1	%	—	%
Combined		100	%	4.7	%	100	%	4.4	%

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, 2019 (in thousands):

		Pension Benefits
July 1, 2019 to June 30, 2020		122
July 1, 2020 to June 30, 2021		135
July 1, 2021 to June 30, 2022		138
July 1, 2022 to June 30, 2023		159
July 1, 2023 to June 30, 2024		5,803
July 1, 2024 to June 30, 2029		5,616

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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.

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Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

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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.

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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.

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Tabular disclosure of net funded status of pension plans and/or other employee benefit plans.

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