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v3.24.1.1.u2

Note 10 - Retirement Plans (Tables) | 12 Months Ended
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Mar. 31, 2024
Notes Tables |
Schedule of Changes in Projected Benefit Obligations [Table Text Block] |
|  | Fiscal Year: |
|  | 2024 |  |  | 2023 |
Change in benefit obligation |  |  |  |  |  |  |  |
Benefit obligation at beginning of year |  | $ | 235,038 |  |  | $ | 275,001 |
Service cost (excluding expenses) |  |  | 5,505 |  |  |  | 7,429 |
Interest cost |  |  | 11,388 |  |  |  | 9,254 |
Actuarial gain |  |  | (4,674 | ) |  |  | (47,403 | )
Benefit payments |  |  | (10,750 | ) |  |  | (9,243 | )
Benefit obligation at end of year |  | $ | 236,507 |  |  | $ | 235,038 |
Change in plan assets |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  | $ | 294,342 |  |  | $ | 327,867 |
Actual return on plan assets |  |  | 6,428 |  |  |  | (23,169 | )
Benefit payments and expenses |  |  | (11,821 | ) |  |  | (10,356 | )
Fair value of plan assets at end of year |  | $ | 288,949 |  |  | $ | 294,342 |
Funded status |  | $ | 52,442 |  |  | $ | 59,304 |
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] |
|  | Fiscal Year: |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Amounts Recognized in Accumulated Other Comprehensive Pre-Tax Loss |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost |  | $ | (9 | ) |  | $ | (75 | ) |  | $ | (167 | )
Net loss |  |  | (34,883 | ) |  |  | (28,310 | ) |  |  | (36,136 | )
Accumulated other comprehensive pre-tax loss |  | $ | (34,892 | ) |  | $ | (28,385 | ) |  | $ | (36,303 | )
Schedule of Defined Benefit Plans Disclosures [Table Text Block] |
|  | Fiscal Year: |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Service cost including administrative expenses |  | $ | 6,405 |  |  | $ | 8,240 |  |  | $ | 9,508 |
Interest cost |  |  | 11,388 |  |  |  | 9,254 |  |  |  | 7,721 |
Expected return on plan assets |  |  | (17,725 | ) |  |  | (16,104 | ) |  |  | (17,114 | )
Amortization of net loss |  |  | 220 |  |  |  | - |  |  |  | - |
Amortization of prior service cost |  |  | 66 |  |  |  | 91 |  |  |  | 91 |
Net periodic benefit cost |  | $ | 354 |  |  | $ | 1,481 |  |  | $ | 206 |
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] |
|  | Fiscal Year: |
|  | 2024 |  |  | 2023 |  | 2022 |
Other Changes in Plan Assets and Benefit Obligation Recognized in Other Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |
Net actuarial loss (gain) |  | $ | 6,792 |  |  | $ | (7,827 | ) |  | $ | 9,871 |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |
Prior service (cost) credit |  |  | (65 | ) |  |  | (91 | ) |  |  | (91 | )
Actuarial (loss) gain |  |  | (220 | ) |  |  | - |  |  |  | - |
Total recognized in other comprehensive income |  | $ | 6,507 |  |  | $ | (7,918 | ) |  | $ | 9,780 |
Defined Benefit Plan, Assumptions [Table Text Block] |
|  | Fiscal Year: |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Weighted Average Assumptions for Balance Sheet Liability at End of Year: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate - projected benefit obligation |  |  | 5.31 | % |  |  | 5.04 | % |  |  | 3.81 | %
Rate of compensation increase |  |  | 3.00 | % |  |  | 3.00 | % |  |  | 3.00 | %
Mortality table |  | Pri-2012 Blue Collar Generational Table Improvement Scale MP-2021 |  |  | Pri-2012 Blue Collar Generational Table Improvement Scale MP-2021 |  |  | Pri-2012 Blue Collar Generational Table Improvement Scale MP-2021 |
Weighted Average Assumptions for Benefit Cost at Beginning of Year: |  |  |  |  |  |  |  |  |  |  |  |
Discount rate - benefit obligations |  |  | 5.04 | % |  |  | 3.81 | % |  |  | 3.43 | %
Discount rate - interest cost |  |  | 4.90 | % |  |  | 3.52 | % |  |  | 2.68 | %
Discount rate - service cost |  |  | 5.16 | % |  |  | 3.93 | % |  |  | 3.75 | %
Expected return on plan assets |  |  | 6.15 | % |  |  | 5.00 | % |  |  | 5.00 | %
Rate of compensation increase |  |  | 3.00 | % |  |  | 3.00 | % |  |  | 3.00 | %
Schedule of Allocation of Plan Assets [Table Text Block] |
|  | Target Allocation for: |  |  | Percentage of Plan Assets as of: |
|  | Fiscal Year 2025 |  |  | March 31, 2024 |  |  | March 31, 2023 |
Equity securities |  |  | 16 | % |  |  | 15 | % |  |  | 13 | %
Debt securities |  |  | 80 | % |  |  | 80 | % |  |  | 75 | %
Real estate |  |  | 2 | % |  |  | 2 | % |  |  | 8 | %
Cash |  |  | 1 | % |  |  | 1 | % |  |  | 1 | %
Other |  |  | 1 | % |  |  | 2 | % |  |  | 3 | %
Total |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
Defined Benefit Plan, Plan Assets, Category [Table Text Block] |
|  | As of March 31, 2024 |
|  | Level 1 |  |  | Level 2 and Level 3 |  |  | Subtotal |  |  | Measured at NAV (1) |  |  | Total |
Equity securities |  | $ | 26,371 |  |  | $ | - |  |  | $ | 26,371 |  |  | $ | - |  |  | $ | 26,371 |
Held in common/collective trusts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 17,730 |  |  |  | 17,730 |
Real estate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4,509 |  |  |  | 4,509 |
Debt securities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 231,904 |  |  |  | 231,904 |
Cash/short-term investments (2) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,388 |  |  |  | 3,388 |
Other investments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 5,047 |  |  |  | 5,047 |
Fair value of plan assets |  | $ | 26,371 |  |  | $ | - |  |  | $ | 26,371 |  |  | $ | 262,578 |  |  | $ | 288,949 |
|  | As of March 31, 2023 |
|  | Level 1 |  |  | Level 2 and Level 3 |  |  | Subtotal |  |  | Measured at NAV (1) |  |  | Total |
Equity securities |  | $ | 25,045 |  |  | $ | - |  |  | $ | 25,045 |  |  | $ | - |  |  | $ | 25,045 |
Held in common/collective trusts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 12,639 |  |  |  | 12,639 |
Real estate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 24,766 |  |  |  | 24,766 |
Debt securities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 219,767 |  |  |  | 219,767 |
Cash/short-term investments (2) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,799 |  |  |  | 2,799 |
Other investments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 9,326 |  |  |  | 9,326 |
Fair value of plan assets |  | $ | 25,045 |  |  | $ | - |  |  | $ | 25,045 |  |  | $ | 269,297 |  |  | $ | 294,342 |
Schedule of Expected Contributions [Table Text Block] |
Expected Employer Contributions |  | $ | - |
Expected Employee Contributions |  | $ | - |
Schedule of Expected Benefit Payments [Table Text Block] |
2025 |  |  | $ | 11,422 |
2026 |  |  |  | 12,231 |
2027 |  |  |  | 13,041 |
2028 |  |  |  | 13,807 |
2029 |  |  |  | 14,465 |
2030 | - | 2034 |  |  |  | 79,850 |

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