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Note O - Pension and Other Postretirement Benefit Plans (Tables)

12 Months Ended

Jun. 30, 2019

Notes Tables

Schedule of Net Funded Status [Table Text Block]

		Pension								Other Postretirement
		Benefits								Benefits
		2019				2018				2019				2018
Change in benefit obligation:
Benefit obligation, beginning of year		$	105,012			$	118,170			$	8,077			$	11,574
Service cost			795				861				19				20
Interest cost			4,020				3,979				305				325
Actuarial loss (gain)			6,718				(8,690	)			18				(2,608	)
Contributions by plan participants			103				105				389				440
Benefits paid			(9,326	)			(9,413	)			(1,357	)			(1,674	)
Benefit obligation, end of year		$	107,322			$	105,012			$	7,451			$	8,077
Change in plan assets:
Fair value of assets, beginning of year		$	90,258			$	94,372			$	-			$	-
Actual return on plan assets			4,125				2,894				-				-
Employer contribution			2,131				2,300				968				1,234
Contributions by plan participants			103				105				389				440
Benefits paid			(9,326	)			(9,413	)			(1,357	)			(1,674	)
Fair value of assets, end of year		$	87,291			$	90,258			$	-			$	-
Funded status		$	(20,031	)		$	(14,754	)		$	(7,451	)		$	(8,077	)
Amounts recognized in the balance sheet consist of:
Other assets - noncurrent		$	3			$	157			$	-			$	-
Accrued liabilities - current			(645	)			(679	)			(962	)			(1,241	)
Accrued retirement benefits - noncurrent			(19,389	)			(14,232	)			(6,489	)			(6,836	)
Net amount recognized		$	(20,031	)		$	(14,754	)		$	(7,451	)		$	(8,077	)
Amounts recognized in accumulated other comprehensive loss consist of (net of tax):
Net transition obligation		$	178			$	204			$	-			$	-
Prior service cost			144				360				(908	)			-
Actuarial net loss			42,185				31,146				302				(833	)
Net amount recognized		$	42,507			$	31,710			$	(606	)		$	(833	)

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]

						Other
		Pension				Postretirement
		Benefits				Benefits
Net transition obligation		$	34			$	-
Prior service cost			45				(275	)
Actuarial net loss			3,134				-
Net amount to be recognized		$	3,213			$	(275	)

Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Table Text Block]

		June 30
		2019				2018
Projected and accumulated benefit obligation		$	102,879			$	100,699
Fair value of plan assets			82,845				85,788

Schedule of Net Benefit Costs [Table Text Block]

		Pension Benefits
		2019				2018
Service cost		$	792			$	868
Interest cost			4,019				3,981
Expected return on plan assets			(5,238	)			(6,041	)
Amortization of transition obligation			34				36
Amortization of prior service cost			64				67
Amortization of actuarial net loss			2,710				3,021
Net periodic benefit cost		$	2,381			$	1,932

		Other Postretirement Benefits
		2019				2018
Service cost		$	18			$	20
Interest cost			304				325
Amortization of prior service cost			(274	)			(206	)
Amortization of actuarial net loss			-				32
Net periodic benefit cost		$	48			$	171

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

						Other
						Postretirement
		Pension				Benefits
Net loss		$	8,098			$	18
Prior service cost			(211	)			-
Amortization of transition asset			(34	)			-
Amortization of prior service (cost) benefit			(64	)			275
Amortization of net (loss) gain			(2,711	)			-
Total recognized in other comprehensive income			5,078				293
Net periodic benefit cost			2,381				48
Total recognized in net periodic benefit cost and other comprehensive income		$	7,459			$	341

						Other
						Postretirement
		Pension				Benefits
Net gain		$	(5,643	)		$	(940	)
Prior service cost			-				(1,668	)
Amortization of transition asset			(34	)			-
Amortization of prior service (cost) benefit			(67	)			206
Amortization of net (loss) gain			(2,952	)			(32	)
Total recognized in other comprehensive income			(8,696	)			(2,434	)
Net periodic benefit cost			1,932				171
Total recognized in net periodic benefit cost and other comprehensive income		$	(6,764	)		$	(2,263	)

Defined Benefit Plan, Assumptions [Table Text Block]

										Other
		Pension Benefits								Postretirement Benefits
Weighted average assumptions used to determine benefit obligations at June 30
		2019				2018				2019				2018
Discount rate			3.22	%			4.01	%			3.15	%			4.09	%
Expected return on plan assets			6.04	%			6.74	%

										Other
		Pension Benefits								Postretirement Benefits
Weighted average assumptions used to determine net periodic benefit costs for years ended June 30
		2019				2018				2019				2018
Discount rate			4.01	%			3.51	%			4.09	%			3.41	%
Expected return on plan assets			6.74	%			6.68	%

Schedule of Plan Weighted Average Assets Allocations [Table Text Block]

		Target				June 30
Asset Category		Allocation				2019				2018
Equity securities			51	%			49	%			51	%
Debt securities			40	%			42	%			39	%
Real estate			9	%			9	%			10	%
			100	%			100	%			100	%

Schedule of Allocation of Plan Assets [Table Text Block]

		Total				Level I				Level II				Level III
Cash and cash equivalents		$	971			$	971			$	-			$	-
Equity securities:
Company common stock (a)			1,483				1,483				-				-
Common stock (a)			16,713				16,713				-				-
Mutual funds (b)			7,963				7,963				-				-
Annuity contracts (c)			6,171				-				-				6,171
Total		$	33,301			$	27,130			$	-			$	6,171
Investments Measured at Net Asset Value (d)			53,990
Total		$	87,291

		Total				Level I				Level II				Level III
Cash and cash equivalents		$	1,156			$	1,156			$	-			$	-
Equity securities:
Company common stock (a)			2,438				2,438				-				-
Common stock (a)			17,373				17,373				-				-
Mutual funds (b)			8,554				8,554				-				-
Annuity contracts (c)			6,113				-				-				6,113
Total		$	35,634			$	29,521			$	-			$	6,113
Investments Measured at Net Asset Value (d)			54,624
Total		$	90,258

		2019				2018
Fixed income funds		$	33,568			$	31,852
International equity securities			3,168				3,294
Real estate			7,069				8,218
Hedged equity mutual funds			10,185				11,260
Total		$	53,990			$	54,624

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]

		2019				2018
Beginning balance		$	6,113			$	7,779
Actual return on plan assets:
Relating to assets still held at reporting date			216				(58	)
Purchases, sales and settlements, net			(158	)			(1,608	)
Ending balance		$	6,171			$	6,113

Schedule of Expected Benefit Payments [Table Text Block]

						Other
		Pension				Postretirement
		Benefits				Benefits
2020		$	9,411			$	977
2021			8,336				905
2022			8,138				825
2023			7,737				753
2024			7,395				681
Years 2025 - 2029			32,656				2,549

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