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Note N - Income Taxes - Components of Net Deferred Tax Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020
--- | --- | ---
Retirement plans and employee benefits | $ 4,584 | $ 7,934
Foreign tax credit carryforwards | 7,609 | 7,429
Federal tax credits | 1,801 | 1,585
State net operating loss and other state credit carryforwards | 2,208 | 1,696
Federal net operating loss | 6,506 | 1,607
Inventory | 0 | 205
Reserves | 1,670 | 1,056
Foreign NOL carryforwards | 66 | 555
Accruals | 871 | 823
Right of use assets - operating leases | 3,674 | 3,920
Disallowed interest | 982 | 418
Disallowed PPP expenses | 0 | 1,320
Other assets | 1,033 | 832
Gross deferred tax assets | 31,004 | 29,380
Valuation allowance | (24,420) | 0
Deferred Tax Assets, Net of Valuation Allowance, Total | 6,584 | 29,380
Inventory | 480 | 0
Property, plant and equipment | 1,852 | 3,231
Intangibles | 2,982 | 3,306
Long term operating lease obligations | 3,622 | 3,855
Other liabilities | 182 | 44
Deferred Tax Liabilities, Gross, Total | 9,118 | 10,436
Total net deferred tax (liabilities) | $ (2,534) |
Total net deferred tax assets |  | $ 18,944

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