Note 11 - Retirement Benefits

6 Months Ended

Dec. 31, 2015

Pension and Other Postretirement Benefits Disclosure [Text Block]

11) Retirement Benefits

The Company has defined benefit pension plans covering certain current and former employees both inside and outside of the U.S. The Company’s pension plan for U.S. employees is frozen for substantially all participants and has been replaced with a defined contribution benefit plan.

Net Periodic Benefit Cost for the Company’s U.S. and Foreign pension benefit plans for the three and six months ended December

31, 2015 and 2014 consisted of the following components (in thousands):

	U.S. Plans						Non-U.S. Plans
	Three Months Ended December 31,						Three Months Ended December 31,
	2015			2014			2015			2014
Service cost	$	16		$	53		$	8		$	12
Interest cost		2,873			2,619			363			409
Expected return on plan assets		(3,465	)		(3,489	)		(330	)		(371	)
Recognized net actuarial loss		995			986			213			189
Amortization of prior service cost		3			14			(12	)		(14	)
Net periodic benefit cost	$	422		$	183		$	242		$	225

	U.S. Plans						Non-U.S. Plans
	Six Months Ended December 31,						Six Months Ended December 31,
	2015			2014			2015			2014
Service cost	$	34		$	106		$	17		$	24
Interest cost		5,745			5,238			734			840
Expected return on plan assets		(6,932	)		(6,977	)		(667	)		(763	)
Recognized net actuarial loss		1,990			1,973			430			389
Amortization of prior service cost		7			27			(24	)		(28	)
Net periodic benefit cost	$	844		$	367		$	490		$	462

The Company expects to pay $1.5 million in contributions to its defined benefit plans during fiscal 2016. Contributions of $0.3 million and $0.6 million were made during the three and six months ended December 31, 2015 compared to $0.2 million and $0.5 million during the three and six months ended December 31, 2014, respectively. Required contributions of $0.9 million will be paid to the Company’s U.K. defined benefit plan during 2016. The Company also expects to make contributions of $0.2 million and $0.3 million to its unfunded defined benefit plans in the U.S. and Germany, respectively during the current fiscal year.