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Pension Plans and Other Postretirement Benefit Plan (Tables) | 12 Months Ended
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Jun. 30, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] |
Schedule of Net Funded Status | The following table summarizes the projected benefit obligations, assets, funded status and the amounts recorded on the Company’s consolidated balance sheets as of June 30, 2024 and 2023, associated with the Pension Plans and Postretirement Plan based upon actuarial valuations as of those measurement dates.
| Pension Plans |  | Postretirement Plan
| June 30, |  | June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Change in benefit obligation: |  |  |  |  |  |  |
Benefit obligation at beginning of period | $ | 38,136 |  |  | $ | 39,683 |  |  | $ | 1,799 |  |  | $ | 1,598 |
Service cost | 243 |  |  | 245 |  |  | 18 |  |  | 20 |
Interest cost | 1,995 |  |  | 1,755 |  |  | 89 |  |  | 68 |
Actuarial (gain) loss (a) | (262) |  |  | (1,485) |  |  | 60 |  |  | 292 |
Benefits paid | (2,347) |  |  | (2,153) |  |  | (240) |  |  | (179) |
Acquisitions | — |  |  | 141 |  |  | — |  |  | — |
Plan settlements paid | — |  |  | (50) |  |  | — |  |  | — |
Benefit obligation at end of period | 37,765 |  |  | 38,136 |  |  | 1,726 |  |  | 1,799 |
Change in plan assets: |  |  |  |  |  |  |
Fair value of plan assets at beginning of period | 17,976 |  |  | 18,756 |  |  | — |  |  | — |
Actual return on plan assets | 351 |  |  | (312) |  |  | — |  |  | — |
Employer contributions | 500 |  |  | 500 |  |  | — |  |  | — |
Benefits paid | (1,159) |  |  | (968) |  |  | — |  |  | — |
Fair value of plan assets at end of period | 17,668 |  |  | 17,976 |  |  | — |  |  | — |
Funded status at end of period | $ | (20,097) |  |  | $ | (20,160) |  |  | $ | (1,726) |  |  | $ | (1,799) |
_________________ (a) In Fiscal Years 2024 and 2023, the actuarial gains on the benefit obligations were primarily due to a net increase in discount and interest crediting rates.
Schedule of Amounts Recognized in Balance Sheet | Amounts recognized in the consolidated balance sheets as of June 30, 2024 and 2023 consist of:
| Pension Plans |  | Postretirement Plan
| June 30, |  | June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Current liabilities (included in Accounts payable, accrued, and other current liabilities) | $ | (1,414) |  |  | $ | (1,355) |  |  | $ | (205) |  |  | $ | (157) |
Non-current liabilities (included in Other non-current liabilities) | (18,683) |  |  | (18,805) |  |  | (1,521) |  |  | (1,642) |
| $ | (20,097) |  |  | $ | (20,160) |  |  | $ | (1,726) |  |  | $ | (1,799) |
Schedule of Net Periodic Benefit Cost Not yet Recognized | Accumulated other comprehensive loss, before income tax, as of June 30, 2024 and 2023 consists of the following amounts that have not yet been recognized in net periodic benefit cost:
| Pension Plans |  | Postretirement Plan
| June 30, |  | June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Actuarial (loss) gain | $ | (7,376) |  |  | $ | (7,249) |  |  | $ | 120 |  |  | $ | 203 |
Schedule of Net Periodic Benefit Cost | The following table presents components of net periodic benefit cost for the Pension Plans and Postretirement Plan included in the accompanying consolidated statements of operations for Fiscal Years 2024, 2023 and 2022. Service cost is recognized in Direct operating expenses and Selling, general and administrative expenses. All other components of net periodic benefit cost are reported in Other income (expense), net.
|  | Pension Plans |  | Postretirement Plan
|  | Years Ended June 30, |  | Years Ended June 30,
|  | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Service cost |  | $ | 243 |  |  | $ | 245 |  |  | $ | 371 |  |  | $ | 18 |  |  | $ | 20 |  |  | $ | 27 |
Interest cost |  | 1,995 |  |  | 1,755 |  |  | 1,048 |  |  | 89 |  |  | 68 |  |  | 31 |
Expected return on plan assets |  | (970) |  |  | (853) |  |  | (858) |  |  | — |  |  | — |  |  | — |
Recognized actuarial loss (gain) |  | 335 |  |  | 358 |  |  | 585 |  |  | (23) |  |  | (69) |  |  | (27) |
Settlement gain |  | — |  |  | (12) |  |  | — |  |  | — |  |  | — |  |  | — |
Net periodic benefit cost |  | $ | 1,603 |  |  | $ | 1,493 |  |  | $ | 1,146 |  |  | $ | 84 |  |  | $ | 19 |  |  | $ | 31 |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | Other pre-tax changes in plan assets and benefit obligations recognized in other comprehensive (loss) income for Fiscal Years 2024, 2023 and 2022 are as follows:
| Pension Plans |  | Postretirement Plan
| Years Ended June 30, |  | Years Ended June 30,
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Actuarial (loss) gain, net | $ | (463) |  |  | $ | 288 |  |  | $ | 3,318 |  |  | $ | (60) |  |  | $ | (292) |  |  | $ | 243 |
Recognized actuarial loss (gain) | 335 |  |  | 358 |  |  | 585 |  |  | (23) |  |  | (69) |  |  | (27) |
Settlement gain | — |  |  | (12) |  |  | — |  |  | — |  |  | — |  |  | — |
Total recognized in other comprehensive (loss) income | $ | (128) |  |  | $ | 634 |  |  | $ | 3,903 |  |  | $ | (83) |  |  | $ | (361) |  |  | $ | 216 |
Schedule of Assumptions Used | Weighted-average assumptions used to determine benefit obligations (made at the end of the period) as of June 30, 2024 and 2023 are as follows:
| Pension Plans |  | Postretirement Plan
| June 30, |  | June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Discount rate | 5.51 | % |  | 5.34 | % |  | 5.40 | % |  | 5.41 | %
Rate of compensation increase | 3.00 | % |  | 3.00 | % |  | n/a |  | n/a
Interest crediting rate | 4.55 | % |  | 3.77 | % |  | n/a |  | n/a
Healthcare cost trend rate assumed for next year | n/a |  | n/a |  | 6.75 | % |  | 7.00 | %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | n/a |  | n/a |  | 5.00 | % |  | 5.00 | %
Year that the rate reaches the ultimate trend rate | n/a |  | n/a |  | 2032 |  | 2032
Weighted-average assumptions used to determine net periodic benefit cost (made at the beginning of the period) for Fiscal Years 2024, 2023 and 2022 are as follows:
| Pension Plans |  | Postretirement Plan
| Years Ended June 30, |  | Years Ended June 30,
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Discount rate - projected benefit obligation | 5.33 | % |  | 4.81 | % |  | 1.36 | % |  | 5.41 | % |  | 4.66 | % |  | 2.25 | %
Discount rate - service cost | 5.52 | % |  | 5.06 | % |  | 3.13 | % |  | 5.39 | % |  | 4.89 | % |  | 2.62 | %
Discount rate - interest cost | 5.40 | % |  | 4.55 | % |  | 2.18 | % |  | 5.47 | % |  | 4.38 | % |  | 1.75 | %
Expected long-term return on plan assets | 5.65 | % |  | 5.00 | % |  | 3.96 | % |  | n/a |  | n/a |  | n/a
Rate of compensation increase | 3.00 | % |  | 3.00 | % |  | 3.00 | % |  | n/a |  | n/a |  | n/a
Interest crediting rate | 4.55 | % |  | 3.77 | % |  | 2.76 | % |  | n/a |  | n/a |  | n/a
Healthcare cost trend rate assumed for next year | n/a |  | n/a |  | n/a |  | 7.00 | % |  | 6.00 | % |  | 6.25 | %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) | n/a |  | n/a |  | n/a |  | 5.00 | % |  | 5.00 | % |  | 5.00 | %
Year that the rate reaches the ultimate trend rate | n/a |  | n/a |  | n/a |  | 2032 |  | 2027 |  | 2027
Schedule of Allocation of Plan Assets | The weighted-average asset allocation of the pension plan assets as of June 30, 2024 and 2023 was as follows:
| As of June 30,
Asset Classes (a): | 2024 |  | 2023
Fixed income securities | 72 | % |  | 75 | %
Cash equivalents | 28 | % |  | 25 | %
| 100 | % |  | 100 | %
_________________ (a) The Company’s target allocation for the assets of the Networks 1212 Plan is 100% fixed income securities as of June 30, 2024 and 2023.
Schedule of Changes in Fair Value of Plan Assets | The cumulative fair values of the individual plan assets at June 30, 2024 and 2023 by asset class are as follows:
|  | Fair Value Hierarchy |  | As of June 30,
|  |  | 2024 |  | 2023
Money market fund (a) |  | I |  | $ | 4,924 |  |  | $ | 4,533 |
Common collective trust (b) |  | II |  | 12,744 |  |  | 13,443 |
Total investments measured at fair value |  |  |  | $ | 17,668 |  |  | $ | 17,976 |
_________________ (a) Money market funds are classified within Level I of the fair value hierarchy as they are valued using observable inputs that reflect quoted prices for identical assets in active markets. (b) Common collective trust (CCT) is a non-exchange traded fund, classified within Level II of the fair value hierarchy at its net asset value (NAV) as reported by the Trustee. The NAV is based on the fair value of the underlying investments held by the fund which are based on quoted market prices less its liabilities. The CCT publishes daily NAV and use such value as the basis for current transactions.
Schedule of Expected Benefit Payments | The following table presents estimated future fiscal year benefit payments for the Pension Plans and Postretirement Plan:
| Pension Plans |  | Postretirement Plan
Fiscal year ending June 30, 2025 | $ | 2,753 |  |  | $ | 211 |
Fiscal year ending June 30, 2026 | $ | 2,980 |  |  | $ | 181 |
Fiscal year ending June 30, 2027 | $ | 3,069 |  |  | $ | 188 |
Fiscal year ending June 30, 2028 | $ | 3,015 |  |  | $ | 183 |
Fiscal year ending June 30, 2029 | $ | 3,127 |  |  | $ | 202 |
Fiscal years ending June 30, 2030 – 2034 | $ | 15,184 |  |  | $ | 915 |
Schedule Of Deferred Compensation Plan Recognized On Balance Sheet | Amounts recognized in the consolidated balance sheets as of June 30, 2024 and 2023 related to the Deferred Compensation Plan consist of:
| June 30, 2024 |  | June 30, 2023
Non-current assets (included in Investments) | $ | 2,925 |  |  | $ | 1,087 |
Non-current liabilities (included in Other non-current liabilities) | $ | (2,936) |  |  | $ | (1,087) |

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