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Note 11 - Retirement Benefits
 6 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
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,
2016
and
2015
consisted of the following components (in thousands):
 
 
 
U.S. Plans
 
 
Non-U.S. Plans
 
 
 
Three Months Ended
 
 
Three Months Ended
 
 
 
December 31,
 
 
December 31,
 
 
 
2016
 
 
2015
 
 
2016
 
 
2015
 
Service cost
   $
1
     $
16
    $
9
     $
8
 
Interest cost
    
2,613
      
2,873
     
250
      
363
 
Expected return on plan assets
    
(3,440
 )    
(3,465
 )    
(282
 )    
(330
 )
Recognized net actuarial loss
    
1,190
      
995
     
249
      
213
 
Amortization of prior service cost
    
-
      
3
     
(12
 )    
(12
 )
Net periodic benefit cost
   $
364
    $
422
    $
214
     $
242
 
 
 
 
 
U.S. Plans
 
 
Non-U.S. Plans
 
 
 
Six Months Ended
 
 
Six Months Ended
 
 
 
December 31,
 
 
December 31,
 
 
 
2016
 
 
2015
 
 
2016
 
 
2015
 
Service cost
   $
2
     $
34
    $
19
    $
17
 
Interest cost
    
5,226
      
5,745
     
514
     
734
 
Expected return on plan assets
    
(6,881
 )    
(6,932
 )    
(579
 )    
(667
 )
Recognized net actuarial loss
    
2,381
      
1,990
     
511
     
430
 
Amortization of prior service cost
    
-
      
7
     
(24
 )    
(24
 )
Net periodic benefit cost
   $
728
     $
844
    $
441
     $
490
 
 
 
 
The Company expects to pay
$1.3
million in contributions to its defined benefit plans during fiscal
2017.
Contributions of
$0.4
million and
$0.6
million were made during the
three
and
six
months ended
December
31,
2016
compared to
$0.3
million and
$0.6
million during the
three
and
six
months ended
December
31,
2015,
respectively. Required contributions of
$0.7
million will be paid to the Company’s U.K. defined benefit plan during
2017.
The Company also expects to make contributions of
$0.3
million to each of its unfunded defined benefit plans in the U.S. and Germany, respectively, during the remainder of the current fiscal year.