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Note 12 - Retirement Benefits
 3 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Retirement Benefits [Text Block]

12)

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 months ended September 30, 2020 and 2019 consisted of the following components (in thousands):

 

  

U.S. Plans

  

Non-U.S. Plans

 
  

Three Months Ended

  

Three Months Ended

 
  

September 30,

  

September 30,

 
  

2020

  

2019

  

2020

  

2019

 
Service cost $1  $1  $54  $10 
Interest cost  1,860   2,271   176   205 
Expected return on plan assets  (3,253)  (3,288)  (153)  (211)
Recognized net actuarial loss  1,483   1,275   184   158 

Amortization of prior service cost

  -   -   (1)  - 

Net periodic benefit cost

 $91  $259  $260  $162 

 

The contributions made to defined benefit plans for the three months ended September 30, 2020 and 2019 are presented below along with remaining contributions to be made for fiscal year 2021 (in thousands):

 

             
  Three Months Ended  Remaining 
  September 30,  Contributions 

Contributions to defined benefit plans

 

2020

  

2019

  Fiscal 2021 
United States, funded plan $-  $-  $9,523 
United States, unfunded plan  52   56   159 
United Kingdom  -   184   - 
Germany, unfunded plan  -   -   285 
Ireland  -   -   67 
  $52  $240  $10,034