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EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Jun. 30, 2024

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 2023 and 2024, and a statement of the funded status as of June 30, 2023 and 2024 (in thousands):

​

​	​	​	​	​	​	​
​		2023			2024
Change in Benefit Obligation	​	​	​	​	​	​
Benefit obligation at beginning of year	​	$	18,464	​	$	18,228
Translation adjustment	​		149	​	​	(11)
Interest costs	​		624	​	​	795
Actuarial (gain) loss	​	​	(847)	​	​	71
Benefits paid	​		(162)	​	​	(6,216)
Benefit obligation at end of year	​		18,228	​	​	12,867
Change in Plan Assets	​	​	​	​	​	​
Fair value of plan assets at beginning of year	​		5,977	​	​	6,513
Translation adjustment	​		243	​	​	11
Actual return on plan assets	​		413	​	​	1,159
Company contributions	​	​	—	​	​	6,009
Benefits paid	​		(120)	​	​	(6,175)
Fair value of plan assets at end of year	​		6,513	​	​	7,517
Funded status and net benefit obligation amount recognized	​	$	(11,715)	​	$	(5,350)
Amount recognized in consolidated balance sheets consists of:	​	​	​	​	​	​
Net benefit asset (included in other current assets)	​	$	3,264	​	$	4,203
Current portion of net pension liability (included in other current liabilities)	​	​	(6,189)	​	​	(1,412)
Net long term pension liability (included in other long-term liabilities)	​		(8,790)	​	​	(8,201)
Accumulated other comprehensive income (loss)	​		2,365	​	​	(349)

Schedule of net periodic pension costs

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

​

​	​	​	​	​	​	​	​	​	​
​		2022			2023			2024
Net Periodic Benefit Costs	​	​	​	​	​	​	​	​	​
Interest costs	​	$	464	​	$	624	​	$	795
Service costs	​	​	—	​	​	—	​	​	—
Expected return on plan assets	​		(279)	​	​	(340)	​	​	(487)
Amortization of prior service costs	​		1,115	​	​	1,330	​	​	548
Recognized actuarial loss (gain)	​		41	​	​	83	​	​	(119)
Net periodic benefit cost	​	$	1,341	​	$	1,697	​	$	737

Schedule of plan assumptions

​

​	​	​	​	​	​
​		2023		2024
Weighted average assumptions at year-end:	​	​	​	​	​
Discount rate		5.3	%	5.0	%
Expected return on plan assets		5.8	%	7.6	%
Rate of compensation increase		—	%	—	%

Schedule of plan assets and investment policy

​

​	​	​	​	​	​	​	​	​	​
​	​	Fiscal year ended			​	Fiscal year ended
​	​	June 30,  2023			​	June 30,  2024
​	​	Proportion of	​	Expected Rate	​	Proportion of	​	Expected Rate
​		Fair Value		of Return		Fair Value		of Return
Equity securities	​	86	%	6.6	%	87	%	8.4	%
Debt securities		13	%	0.8	%	12	%	1.9	%
Cash		1	%	0.4	%	1	%	1.9	%
Combined		100	%	5.8	%	100	%	7.6	%

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, 2024 (in thousands):

​

​	​	​	​
​		Pension Benefits
July 1, 2024 to June 30, 2025	​	$	1,545
July 1, 2025 to June 30, 2026	​	​	2,304
July 1, 2026 to June 30, 2027	​	​	2,323
July 1, 2027 to June 30, 2028	​	​	2,338
July 1, 2028 to June 30, 2029	​	​	1,790
July 1, 2029 to June 30, 2034	​	​	2,056

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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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