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Note 10 - Retirement Benefits
 6 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Pension and Other Postretirement Benefits Disclosure [Text Block]
1
0
)     
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
,
2017
and
2016
consisted of the following components (in thousands):
 
   
U.S. Plans
    
Non-U.S. Plans
  
   
Three Months Ended
    
Three Months Ended
  
   
December 31
,
    
December 31
,
  
   
201
7
    
201
6
    
201
7
    
201
6
  
Service cost
   $
1
     $
1
     $
9
     $
9
  
Interest cost
    
2,520
      
2,613
      
259
      
250
  
Expected return on plan assets
    
(3,354
 )    
(3,440
 )    
(235
 )    
(282
 )
Recognized net actuarial loss
    
1,145
      
1,190
      
234
      
249
  
Amortization of prior service cost
    
-
      
-
      
(9
 )    
(12
 )
Net periodic benefit cost
   $
312
     $
364
     $
258
     $
214
  
 
   
U.S. Plans
    
Non-U.S. Plans
  
   
Six Months Ended
    
Six Months Ended
  
   
December 31,
    
December 31,
  
   
2017
    
2016
    
2017
    
2016
  
Service cost
   $
2
     $
2
     $
18
     $
19
  
Interest cost
    
5,040
      
5,226
      
514
      
514
  
Expected return on plan assets
    
(6,707
 )    
(6,881
 )    
(466
 )    
(579
 )
Recognized net actuarial loss
    
2,290
      
2,381
      
463
      
511
  
Amortization of prior service cost
    
-
      
-
      
(17
 )    
(24
 )
Net periodic benefit cost
   $
625
     $
728
     $
512
     $
441
  
 
The Company expects to pay
$1.
4
million in contributions to its defined benefit plans during fiscal
2018.
Contributions of
$0.3
million and
$0.5
million were made during the
three
and
six
months ended
December 31, 2017
compared to
$0.4
million and
$0.6
million during the
three
and
six
months ended
December 31, 2016,
respectively. Required contributions of
$0.8
million will be paid to the Company’s U.K. defined benefit plan during
2018.
The Company also expects to make contributions during the current fiscal year of
$0.2
million and
$0.3
million to its unfunded defined benefit plans in the U.S. and Germany, respectively.