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Employee Benefit Plans (Tables)
12 Months Ended
Jun. 30, 2021
Employee Benefit Plans  
Schedule of changes in projected benefit obligation, plan assets and the funded status

For the Year Ended June 30

    

2021

    

2020

Change in projected benefit obligation

Projected benefit obligation at beginning of year

$

79,353

 

$

68,527

Interest cost

 

1,682

 

2,112

Benefits paid

 

(2,260)

 

(2,000)

Actuarial (gain) / loss

 

(860)

 

10,714

Projected benefit obligation at end of year

$

77,915

 

$

79,353

For the Year Ended June 30

    

2021

    

2020

Change in plan assets

  

  

Fair value of plan assets at beginning of year

$

75,791

$

64,593

Actual return on plan assets

 

4,838

 

10,821

Employer contributions

 

730

 

2,377

Benefits paid

 

(2,260)

 

(2,000)

Fair value of plan assets at end of year

$

79,099

$

75,791

Asset (Liability) Funded status at end of year

$

1,184

$

(3,562)

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

For the Year Ended June 30

    

2021

    

2020

Accumulated other comprehensive income (loss) related to pension plan

 

  

 

  

Balance at beginning of period

$

(22,571)

$

(20,050)

Amortization of net actuarial loss and prior service costs

 

560

 

515

Current period net actuarial gain (loss)

 

2,038

 

(3,036)

Net change

 

2,598

 

(2,521)

Balance at end of period

$

(19,973)

$

(22,571)

Schedule of net periodic pension expense

For the Year Ended June 30

    

2021

    

2020

    

2019

Interest cost on benefit obligation

$

1,682

$

2,112

$

2,407

Expected return on plan assets

 

(3,660)

 

(3,144)

 

(2,842)

Amortization of net actuarial loss and prior service costs

 

560

 

515

 

465

Net periodic pension (income) expense

$

(1,418)

$

(517)

$

30

Schedule of significant actuarial assumptions

For the Year Ended June 30

    

2021

    

2020

    

2019

 

Discount rate for interest cost

 

2.2

%  

2.2

%  

3.1

%

Expected rate of return on plan assets

 

4.4

%  

4.9

%  

4.9

%

Discount rate for year-end benefit obligation

 

2.9

%  

2.8

%  

3.6

%

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

For the Year Ended June 30

    

2022

$

3,146

2023

 

3,392

2024

 

3,575

2025

3,712

2026

3,830

2027 – 2031

 

20,414

Schedule of weighted-average asset allocation of plan assets

Target

Allocation

Percentage of Plan Assets

For the Year Ended June 30

    

2022

    

2021

    

2020

Debt securities

 

65% - 85%  

71%  

66%  

Equity securities

 

10% - 30%  

21%  

27%  

Global asset allocation/risk parity(1)

 

0% - 15%  

7%  

5%  

Other

 

0% - 10%  

1%  

2%  

(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, 2021

    

Level 1

    

Level 2

    

Level 3

    

Total

Cash and cash equivalents

$

386

$

$

$

386

Common-collective funds

 

 

 

 

Global large cap equities

 

 

13,201

 

3,816

 

17,017

Fixed income securities

 

 

56,414

 

 

56,414

Global asset allocations/risk parity

 

 

2,016

 

 

2,016

Mutual funds

 

 

 

 

Global asset allocations/risk parity

 

3,206

 

 

 

3,206

Other

Other

 

 

 

60

 

60

$

3,592

$

71,631

$

3,876

$

79,099

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

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

Change in Fair Value Level 3 assets

     

2021

    

2020

Balance at beginning of period

$

5,732

$

5,649

Redemptions

 

(3,236)

 

(49)

Purchases

 

300

 

200

Change in fair value

 

1,080

 

(68)

Balance at end of period

$

3,876

$

5,732