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Note 11 - Retirement Benefits

9 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Retirement Benefits [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 periods ended consisted of the following components (in thousands):

		U.S. Plans								Non-U.S. Plans
		Three Months Ended								Three Months Ended
		March 31,								March 31,
		2025				2024				2025				2024
Service cost		$	-			$	-			$	61			$	41
Interest cost			2,386				2,472				295				296
Expected return on plan assets			(2,641	)			(2,776	)			(335	)			(350	)
Recognized net actuarial loss			1,055				950				-				(152	)
Amortization of prior service cost			-				-				(1	)			(1	)
Net periodic (benefit) cost		$	800			$	646			$	20			$	(166	)

		U.S. Plans								Non-U.S. Plans
		Nine Months Ended								Nine Months Ended
		March 31,								March 31,
		2025				2024				2025				2024
Service cost		$	-			$	-			$	185			$	122
Interest cost			7,158				7,418				903				885
Expected return on plan assets			(7,923	)			(8,334	)			(1,026	)			(1,049	)
Recognized net actuarial loss			3,166				2,852				-				(454	)
Amortization of prior service cost			-				-				(2	)			(3	)
Net periodic (benefit) cost		$	2,401			$	1,936			$	60			$	(499	)

The following table sets forth the amounts recognized for the Company's defined benefit pension plans (in thousands):

Amounts recognized in the consolidated balance sheets consist of:		March 31, 2025				June 30, 2024
Prepaid benefit cost		$	2,909			$	2,570
Current liabilities			(239	)			(791	)
Non-current liabilities			(36,761	)			(42,667	)
Net amount recognized		$	(34,091	)		$	(40,888	)

The contributions made to defined benefit plans are presented below along with remaining contributions to be made for fiscal year 2025 (in thousands):

		Fiscal Year 2025								Fiscal Year 2024								Remaining
		Three Months Ended				Nine Months Ended				Three Months Ended				Nine Months Ended				Contributions
Contributions to defined benefit plans		March 31, 2025				March 31, 2025				March 31, 2024				March 31, 2024				FY 2025
United States, funded plan		$	1,360			$	6,072			$	6,921			$	8,363			$	-
United States, unfunded plan			27				81				44				143				90
Germany, unfunded plan			-				-				-				-				258
		$	1,387			$	6,153			$	6,965			$	8,506			$	348

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