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Other Expense, Net | 3 Months Ended
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Sep. 27, 2020
Other Income And Expenses [Abstract] |
Other Expense, Net | Other Expense, net Net other expense included in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income primarily included foreign currency transaction gains and losses, realized and unrealized losses on our Mexican peso currency forward contracts, net periodic pension and postretirement benefit costs, other than the service cost component, related to our supplemental executive retirement plan (“SEPR”) and postretirement plans and Rabbi Trust gains and losses. Foreign currency transaction gains and losses resulted from activity associated with foreign denominated assets held by our Mexican subsidiaries. We entered into the Mexican Peso currency forward contracts described above to minimize earnings volatility resulting from changes in exchange rates affecting the U.S. dollar cost of our Mexican operations. Unrealized gains and losses on the peso forward contracts recognized as a result of mark-to-market adjustments as of September 27, 2020 may or may not be realized in future periods, depending on the actual Mexican peso to U.S. dollar exchange rates experienced during the balance of the contract period. The Rabbi Trust assets fund our amended and restated supplemental executive retirement plan. The investments held in this Trust are considered trading securities. The impact of these items for each of the periods presented was as follows (in thousands):
|  | Three Months Ended |  |
|  | September 27, 2020 |  |  | September 29, 2019 |  |
Foreign Currency Transaction Loss |  | $ | (399 | ) |  | $ | (85 | ) |
Unrealized Gain on Peso Forward Contracts |  |  | 335 |  |  |  | — |  |
Realized Loss on Peso Forward Contracts |  |  | (59 | ) |  |  | — |  |
Pension and Postretirement Plans Cost |  |  | (105 | ) |  |  | (117 | ) |
Rabbi Trust Loss |  |  | (57 | ) |  |  | (2 | ) |
Other |  |  | 25 |  |  |  | 107 |  |
|  | $ | (260 | ) |  | $ | (97 | ) |

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 720 -URI http://asc.fasb.org/topic&trid=2122503 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 610 -URI http://asc.fasb.org/topic&trid=49130413 + Details
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