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EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Jun. 30, 2021

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 2020 and 2021, and a statement of the funded status as of June 30, 2020 and 2021 (in thousands):

​

​	​	​	​	​	​	​
​		2020			2021
Change in Benefit Obligation	​	​	​	​	​	​
Benefit obligation at beginning of year	​	$	14,059	​	$	16,225
Translation adjustment	​		(155)	​		700
Interest costs	​		442	​		477
Amendment	​	​	1,260	​	​	1,272
Actuarial (gain) loss	​		770	​		(45)
Benefits paid	​		(151)	​		(195)
Benefit obligation at end of year	​		16,225	​		18,434
Change in Plan Assets	​	​	​	​	​	​
Fair value of plan assets at beginning of year	​		5,781	​		5,358
Translation adjustment	​		(156)	​		710
Actual return on plan assets	​		(160)	​		1,090
Benefits paid	​		(107)	​		(148)
Fair value of plan assets at end of year	​		5,358	​		7,010
Funded status and net amount recognized	​	$	(10,867)	​	$	(11,424)
Amount recognized in consolidated balance sheets consists of:	​	​	​	​	​	​
Investments	​	$	226	​	$	1,503
Accrued pension liability	​		(11,093)	​		(12,927)
Accumulated other comprehensive income	​		3,424	​		4,319

Schedule of net periodic pension expense

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

​

​	​	​	​	​	​	​	​	​	​
​		2019			2020			2021
Net Periodic Benefit Costs	​	​	​	​	​	​	​	​	​
Interest costs	​	$	457	​	$	442	​	$	477
Service costs	​	​	223	​	​	—	​	​	—
Expected return on plan assets	​		(270)	​		(251)	​		(242)
Amortization of prior service costs	​		56	​		(61)	​		668
Recognized actuarial loss	​		103	​		34	​		75
Net periodic benefit cost	​	$	569	​	$	164	​	$	978

Schedule of plan assumptions

​

​	​	​	​	​	​
​		2020		2021
Weighted average assumptions at year-end:	​	​	​	​	​
Discount rate		2.7	%	2.6	%
Expected return on plan assets		4.2	%	4.2	%
Rate of compensation increase		—	%	—	%

Schedule of plan assets and investment policy

​

​	​	​	​	​	​	​	​	​	​
​	​	Fiscal year ended			​	Fiscal year ended
​	​	June 30,  2020			​	June 30,  2021
​	​	Proportion of	​	Expected Rate	​	Proportion of	​	Expected Rate
​		Fair Value		of Return		Fair Value		of Return
Equity securities	​	80	%	5.0	%	83	%	4.9	%
Debt securities		19	%	1.0	%	16	%	0.8	%
Cash		1	%	0.5	%	1	%	0.4	%
Combined		100	%	4.2	%	100	%	4.2	%

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, 2021 (in thousands):

​

​	​	​
​		Pension Benefits
July 1, 2021 to June 30, 2022	​	198
July 1, 2022 to June 30, 2023	​	217
July 1, 2023 to June 30, 2024	​	5,862
July 1, 2024 to June 30, 2025	​	1,411
July 1, 2025 to June 30, 2026	​	1,897
July 1, 2026 to June 30, 2031	​	6,321

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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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