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Note 6. Credit Facilities (Details) - USD ($) $ in Thousands | 3 Months Ended |
--- | --- | ---
Sep. 30, 2020 | Jun. 30, 2020
Line of Credit Facility |  |  |
Line of Credit Facility, Remaining Borrowing Capacity |  | $ 85,900 |
Long-term Line of Credit |  | 110,500 | $ 118,100
Current portion of borrowings under credit facilities |  | 18,963 | 26,638
Long-term debt under credit facilities, less current portion |  | $ 91,500 | $ 91,500
Debt, Weighted Average Interest Rate |  | 2.30% | 2.50%
Primary Credit Facility |  |  |
Line of Credit Facility |  |  |
Line of Credit Facility, Remaining Borrowing Capacity | [1] | $ 45,000 |
Long-term Line of Credit | [1] | 104,600 | $ 111,400
Long-term debt under credit facilities, less current portion | [2] | 91,500 | 91,500
Line of Credit Facility, Maximum Borrowing Capacity |  | 150,000 |
Line of Credit Facility, Maximum Borrowing Capacity Upon Request |  | $ 225,000 |
Line of Credit Facility, Above the Adjusted LIBO Rate to Calculate Alternate Base Rate |  | 1.00% |
Line of Credit Facility, Above the Federal Funds Rate to Calculate Alternate Base Rate |  | 0.50% |
Secondary Credit Facility |  |  |
Line of Credit Facility |  |  |
Line of Credit Facility, Remaining Borrowing Capacity | [3] | $ 30,000 |
Current portion of borrowings under credit facilities | [3] | 0 | 0
Line of Credit Facility, Maximum Borrowing Capacity |  | $ 30,000 |
Line of Credit Facility, Commitment Fee Percentage |  | 0.50% |
Line of Credit Facility, Above the Adjusted LIBO Rate to Calculate Alternate Base Rate |  | 1.00% |
Line of Credit Facility, Eurocurrency Loans Spread |  | 0.02125 |
Line of Credit Facility, Alternate Base Rate Loans Spread |  | 0.01125 |
Line of Credit Facility, Above the Federal Funds Rate to Calculate Alternate Base Rate |  | 0.50% |
Thailand Overdraft Credit Facility |  |  |
Line of Credit Facility |  |  |
Line of Credit Facility, Remaining Borrowing Capacity |  | $ 100 |
Current portion of borrowings under credit facilities |  | 0 | 0
Netherlands Revolving Credit Facility |  |  |
Line of Credit Facility |  |  |
Line of Credit Facility, Remaining Borrowing Capacity |  | 4,900 |
Current portion of borrowings under credit facilities |  | 5,900 | 6,700
Poland Revolving Credit Facility |  |  |
Line of Credit Facility |  |  |
Line of Credit Facility, Remaining Borrowing Capacity |  | 5,900 |
Current portion of borrowings under credit facilities |  | $ 0 | 0
Primary Credit Facility and Secondary Credit Facility |  |  |
Line of Credit Facility |  |  |
Adjusted Leverage Ratio Covenant |  | 3.0 |
Fixed Charge Coverage Ratio Covenant |  | 1.1 |
Adjusted Leverage Ratio, Indebtedness Reduction For Excess Cash |  | $ 15,000 |
Financial Standby Letter of Credit |  |  |
Line of Credit Facility |  |  |
Guarantor Obligations, Maximum Exposure, Undiscounted |  | $ 400 | $ 400
Minimum | Primary Credit Facility |  |  |
Line of Credit Facility |  |  |
Line of Credit Facility, Commitment Fee Percentage |  | 0.20% |
Line of Credit Facility, Eurocurrency Loans Spread |  | 0.01250 |
Line of Credit Facility, Alternate Base Rate Loans Spread |  | 0.00250 |
Maximum | Primary Credit Facility |  |  |
Line of Credit Facility |  |  |
Line of Credit Facility, Commitment Fee Percentage |  | 0.25% |
Line of Credit Facility, Eurocurrency Loans Spread |  | 0.01750 |
Line of Credit Facility, Alternate Base Rate Loans Spread |  | 0.00750 |
[1] | The Company maintains a U.S. primary credit facility (the “primary facility”) among the Company, the lenders party thereto, and JPMorgan Chase Bank, National Association, as Administrative Agent, and Bank of America, N.A., as Documentation Agent, scheduled to mature July 27, 2023. The primary facility provides for $150 million in borrowings, with an option to increase the amount available for borrowing to $225 million upon request, subject to the consent of each lender participating in such increase. This facility is maintained for working capital and general corporate purposes of the Company including capital expenditures and potential acquisitions. A commitment fee is payable on the unused portion of the credit facility at a rate that ranges from 20.0 to 25.0 basis points per annum as determined by the Company’s ratio of consolidated total indebtedness to adjusted consolidated EBITDA, as defined in the primary facility. Types of borrowings available on the primary facility include revolving loans, multi-currency term loans, and swingline loans. The interest rate on borrowings is dependent on the type of borrowings and will be one of the following two options: •the London Interbank Offered Rate (“LIBOR”) in effect two business days prior to the advance (adjusted upwards to reflect bank reserve costs) for such interest period as defined in the agreement, plus the Eurocurrency Loans spread which can range from 125.0 to 175.0 basis points based on the Company’s ratio of consolidated total indebtedness to adjusted consolidated EBITDA; or •the Alternate Base Rate (“ABR”), which is defined as the highest of the fluctuating rate per annum equal to the higher of a.JPMorgan’s prime rate; b.1% per annum above the Adjusted LIBO Rate (as defined under the primary credit facility); or c.1/2 of 1% per annum above the Federal Funds Effective Rate (as defined under the primary credit facility); plus the ABR Loans spread which can range from 25.0 to 75.0 basis points based on the Company’s ratio of consolidated total indebtedness to adjusted consolidated EBITDA. The Company’s financial covenants under the primary credit facility require: •a ratio of consolidated total indebtedness minus unencumbered U.S. cash on hand in the United States in excess of $15 million to adjusted consolidated EBITDA, determined as of the end of each of its fiscal quarters for the then most recently ended four fiscal quarters, to not be greater than 3.0 to 1.0, and •a fixed charge coverage ratio, determined as of the end of each of its fiscal quarters for the then most recently ended four fiscal quarters, to not be less than 1.1 to 1.0. The Company had $0.4 million in letters of credit contingently committed against the credit facility at both September 30, 2020 and June 30, 2020.
[2] | The amount of Long-term debt under credit facilities, less current maturities reflects the borrowings on the primary facility that the Company intends, and has the ability, to refinance for a period longer than twelve months. The primary credit facility matures on July 27, 2023.
[3] | The Company also maintains a 364-day multi-currency revolving credit facility (the “secondary credit facility”) among the Company, as borrower, certain subsidiaries of the Company as guarantors, the lenders party thereto, JPMorgan Chase Bank, National Association, as Administrative Agent, and Bank of America, N.A., as Documentation Agent, which allows for borrowings of up to $30 million and has a maturity date of May 18, 2021. This secondary credit facility is to be used for working capital and general corporate purposes. A commitment fee on the unused portion of principal amount of this secondary credit facility is payable at 50.0 basis points per annum. The interest rate on borrowings is dependent on the type of borrowings and will be one of the following two options: •the LIBOR in effect two business days prior to the advance (adjusted upwards to reflect bank reserve costs) for such interest period as defined under the secondary credit facility, plus the Eurocurrency Loans spread of 2.125%; or •the ABR, which is defined as the highest of the fluctuating rate per annum equal to the higher of a.JPMorgan’s prime rate; b.1/2 of 1% per annum above the Federal Funds Effective Rate (as defined under the secondary credit facility); or c.1% per annum above the Adjusted LIBO Rate (as defined under the secondary credit facility); plus the ABR Loans spread of 1.125%. The Company’s financial covenants under this secondary credit facility are the same as the financial covenants listed above for its primary credit facility.

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- Definition Maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee or each group of similar guarantees before reduction for potential recoveries under recourse or collateralization provisions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=118943654&loc=d3e12069-110248 + Details
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=119400593&loc=d3e572229-122910 + Details
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- Definition The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(13)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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