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Employee Benefit Plans (Tables)

12 Months Ended

Jun. 30, 2020

Employee Benefit Plans

Schedule of changes in projected benefit obligation, plan assets and the funded status

For the Year Ended June 30		2020			2019
Change in projected benefit obligation
Projected benefit obligation at beginning of year		$	68,527		$	61,557
Interest cost			2,112			2,407
Benefits paid			(2,000)			(1,758)
Actuarial loss			10,714			6,321
Projected benefit obligation at end of year		$	79,353		$	68,527

For the Year Ended June 30		2020			2019
Change in plan assets
Fair value of plan assets at beginning of year		$	64,593		$	58,648
Actual return on plan assets			10,821			6,861
Employer contributions			2,377			842
Benefits paid			(2,000)			(1,758)
Fair value of plan assets at end of year		$	75,791		$	64,593
Funded status at end of year		$	(3,562)		$	(3,934)

Schedule of accumulated other comprehensive (income) loss related to the pension plan

For the Year Ended June 30		2020			2019
Accumulated other comprehensive income (loss) related to pension plan
Balance at beginning of period		$	(20,050)		$	(18,213)
Amortization of net actuarial loss and prior service costs			515			465
Current period net actuarial (loss)			(3,036)			(2,302)
Net change			(2,521)			(1,837)
Balance at end of period		$	(22,571)		$	(20,050)

Schedule of net periodic pension expense

For the Year Ended June 30		2020			2019			2018
Interest cost on benefit obligation		$	2,112		$	2,407		$	2,157
Expected return on plan assets			(3,144)			(2,842)			(3,236)
Amortization of net actuarial loss and prior service costs			515			465			453
Net periodic pension expense (income)		$	(517)		$	30		$	(626)

Schedule of significant actuarial assumptions

For the Year Ended June 30		2020		2019		2018
Discount rate for interest cost		2.2	%	3.1	%	3.9	%
Expected rate of return on plan assets		4.9	%	4.9	%	5.6	%
Discount rate for year-end benefit obligation		2.8	%	3.6	%	4.2	%

Schedule of estimated future benefit payments, including benefits attributable to future service

For the Year Ended June 30
2021		$	2,887
2022			3,138
2023			3,364
2024			3,531
2025			3,661
2026–2030			19,789

Schedule of weighted-average asset allocation of plan assets

		Target
		Allocation		Percentage of Plan Assets
For the Year Ended June 30		2021		2020		2019
Debt securities		57%–77%		66%		67%
Equity securities		18%–38%		27%		28%
Global asset allocation/risk parity(1)		0%–15%		5%		4%
Other		0%–10%		2%		1%

(1) The global asset allocation/risk parity category consists of a variety of asset classes including, but not limited to, global bonds, global equities, real estate and commodities.

Schedule of fair values of the company's plan assets by asset category

		Fair Value Measurements Using
As of June 30, 2020		Level 1			Level 2			Level 3			Total
Cash and cash equivalents		$	1,812		$	—		$	—		$	1,812
Common-collective funds
Global large cap equities			—			16,678			4,038			20,716
Fixed income securities			—			49,902			—			49,902
Global asset allocations/risk parity			—			1,667			—			1,667
Other
Global asset allocations/risk parity			—			—			1,669			1,669
Other			—			—			25			25
		$	1,812		$	68,247		$	5,732		$	75,791

		Fair Value Measurements Using
As of June 30, 2019		Level 1			Level 2			Level 3			Total
Cash and cash equivalents		$	215		$	—		$	—		$	215
Common-collective funds
Global large cap equities			—			13,995			4,016			18,011
Fixed income securities			—			43,288			—			43,288
Global asset allocations/risk parity			—			1,446			—			1,446
Other
Global asset allocations/risk parity			—			—			1,447			1,447
Other			—			—			186			186
		$	215		$	58,729		$	5,649		$	64,593

Schedule of summary of the changes in the fair value of level 3 assets

Change in Fair Value Level 3 assets		2020			2019
Balance at beginning of period		$	5,649		$	6,960
Redemptions			(49)			(4,336)
Purchases			200			2,800
Change in fair value			(68)			225
Balance at end of period		$	5,732		$	5,649

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Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans.

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Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

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Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost.

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Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

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Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements.

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Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period.

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Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

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Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

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