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Note I - Shareholders' Equity | 12 Months Ended
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Jun. 30, 2021
Notes to Financial Statements |
Stockholders' Equity Note Disclosure [Text Block] | I. SHAREHOLDERS' EQUITY The total number of shares of common stock outstanding at June 30, 2021 and 2020 was 13,648,663 and 13,405,993, respectively. At June 30, 2021 and 2020, treasury stock consisted of 984,139 and 1,226,809 shares of common stock, respectively. The Company issued 249,480 and 186,226 shares of treasury stock in fiscal 2021 and 2020, respectively, to fulfill its obligations under its incentive compensation plans. The Company also recorded forfeitures of 6,809 and 20,511 shares of previously issued restricted stock in fiscal 2021 and 2020, respectively. The difference between the cost of treasury shares and the option price is recorded in common stock. Under an authorization given by the Board of Directors on July 27, 2012, the Company is permitted to make open market purchases of its common stock. The Company did not make any open market purchases during the two most recent fiscal years. As of June 30, 2021 and 2020, 315,000 shares remain authorized for purchase. Cash dividends per share were $0.00 in both fiscal 2021 and 2020. The Company is authorized to issue 200,000 shares of preferred stock, none of which have been issued. The Company has designated 150,000 shares of the preferred stock as Series A Junior Preferred Stock. The components of accumulated other comprehensive loss included in equity as of June 30, 2021 and 2020 are as follows:
|  | 2021 |  |  | 2020 |
Translation adjustments |  | $ | 9,192 |  |  | $ | 3,454 |
Net loss on cash flow hedge derivatives, net of income taxes of $211 and $341, respectively |  |  | (678 | ) |  |  | (1,104 | )
Net gain on net investment hedge derivatives, net of income taxes of $103 and $0, respectively |  |  | 334 |  |  |  | - |
Benefit plan adjustments, net of income taxes of $9,537 and $13,316 respectively |  |  | (31,463 | ) |  |  | (43,576 | )
Accumulated other comprehensive loss |  | $ | (22,615 | ) |  | $ | (41,226 | )
A reconciliation for the changes in accumulated other comprehensive loss, net of tax, by component for the years ended June 30, 2021 and June 30, 2020 is as follows:
|  | Translation |  |  | Benefit Plan |  |  | Cash Flow |  |  | Net Investment |
|  | Adjustment |  |  | Adjustment |  |  | Hedges |  |  | Hedges |
Balance at June 30, 2020 |  | $ | 3,454 |  |  | $ | (43,576 | ) |  | $ | (1,104 | ) |  | $ | - |
Other comprehensive loss before reclassifications |  |  | 5,738 |  |  |  | 9,783 |  |  |  | 426 |  |  |  | 334 |
Amounts reclassified from accumulated other comprehensive loss |  |  | - |  |  |  | 2,330 |  |  |  | - |  |  |  | - |
Net current period other comprehensive income |  |  | 5,738 |  |  |  | 12,113 |  |  |  | 426 |  |  |  | 334 |
Balance at June 30, 2021 |  | $ | 9,192 |  |  | $ | (31,463 | ) |  | $ | (678 | ) |  | $ | 334 |
|  | Translation |  |  | Benefit Plan |  |  | Cash Flow |
|  | Adjustment |  |  | Adjustment |  |  | Hedges |
Balance at June 30, 2019 |  | $ | 4,439 |  |  | $ | (41,901 | ) |  | $ | (509 | )
Other comprehensive loss before reclassifications |  |  | (985 | ) |  |  | (3,792 | ) |  |  | (595 | )
Amounts reclassified from accumulated other comprehensive loss |  |  | - |  |  |  | 2,117 |  |  |  | - |
Net current period other comprehensive loss |  |  | (985 | ) |  |  | (1,675 | ) |  |  | (595 | )
Balance at June 30, 2020 |  | $ | 3,454 |  |  | $ | (43,576 | ) |  | $ | (1,104 | )
A reconciliation for the reclassifications out of accumulated other comprehensive loss, net of tax, for the year ended June 30, 2021 is as follows:
|  | Amount |
|  | Reclassified |
Amortization of benefit plan items |  |  |  |
Actuarial losses |  | $ | (3,246 | )
Transition asset and prior service benefit |  |  | 187 |
Total before tax benefit |  |  | (3,059 | )
Tax benefit |  |  | 729 |
Total reclassification net of tax |  | $ | (2,330 | )
A reconciliation for the reclassifications out of accumulated other comprehensive loss, net of tax, for the year ended June 30, 2020 is as follows:
|  | Amount |
|  | Reclassified |
Amortization of benefit plan items |  |  |  |
Actuarial losses |  | $ | (2,982 | )
Transition asset and prior service benefit |  |  | 195 |
Total before tax benefit |  |  | (2,787 | )
Tax benefit |  |  | 670 |
Total reclassification net of tax |  | $ | (2,117 | )

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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