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Shareholders' Equity
12 Months Ended
Jun. 30, 2021
Stockholders' Equity Note [Abstract]  
SHAREHOLDERS' EQUITY SHAREHOLDERS’ EQUITY
Treasury Shares
At June 30, 2021, 128 shares of the Company’s common stock held as treasury shares were restricted as collateral under escrow arrangements relating to change in control and director and officer indemnification agreements.
Accumulated Other Comprehensive Loss
Changes in the accumulated other comprehensive loss for the years ended June 30, 2021, 2020, and 2019, are comprised of the following amounts, shown net of taxes:
Foreign currency translation adjustment Unrealized gain (loss) on securities available for salePost-employment benefitsCash flow hedgeTotal accumulated other comprehensive loss
Balance at July 1, 2018$(87,974)$50 $(2,299)$— $(90,223)
Other comprehensive income (loss)1,644 — (327)(10,887)(9,570)
Amounts reclassified from accumulated other comprehensive loss— — (226)183 (43)
Cumulative effect of adopting accounting standards— (50)— — (50)
Net current-period other comprehensive income (loss)1,644 (50)(553)(10,704)(9,663)
Balance at June 30, 2019(86,330)— (2,852)(10,704)(99,886)
Other comprehensive loss(18,764)— (1,662)(12,572)(32,998)
Amounts reclassified from accumulated other comprehensive loss— — (50)3,504 3,454 
Net current-period other comprehensive loss(18,764)— (1,712)(9,068)(29,544)
Balance at June 30, 2020(105,094)— (4,564)(19,772)(129,430)
Other comprehensive income24,256  687 2,480 27,423 
Amounts reclassified from accumulated other comprehensive loss  204 8,711 8,915 
Net current-period other comprehensive income24,256  891 11,191 36,338 
Balance at June 30, 2021$(80,838)$ $(3,673)$(8,581)$(93,092)
Other Comprehensive Loss
Details of other comprehensive loss are as follows:
Year Ended June 30,202120202019
Pre-Tax AmountTax ExpenseNet AmountPre-Tax AmountTax Expense (Benefit)Net AmountPre-Tax AmountTax Expense (Benefit)Net Amount
Foreign currency translation adjustments
$24,352 $96 $24,256 $(18,499)$265 $(18,764)$2,021 $377 $1,644 
Post-employment benefits:
Actuarial gain (loss) on re-measurement903 216 687 (2,192)(530)(1,662)(372)(45)(327)
Reclassification of actuarial losses (gains) and prior service cost into other income, net and included in net periodic pension costs270 66 204 (66)(16)(50)(306)(80)(226)
Unrealized gain (loss) on cash flow hedge3,250 770 2,480 (16,615)(4,043)(12,572)(14,446)(3,559)(10,887)
Reclassification of interest from cash flow hedge into interest expense
11,553 2,842 8,711 4,638 1,134 3,504 244 61 183 
Cumulative effect of adopting accounting standard
   — — — (50)— (50)
Other comprehensive loss
$40,328 $3,990 $36,338 $(32,734)$(3,190)$(29,544)$(12,909)$(3,246)$(9,663)
Net Income Per Share
Basic net income per share is based on the weighted-average number of common shares outstanding. Diluted net income per share includes the dilutive effect of potential common shares outstanding. Under the two-class method of computing net income per share, non-vested share-based payment awards that contain rights to receive non-forfeitable dividends are considered participating securities. The Company’s participating securities include Restricted Stock Units ("RSUs") and restricted stock awards. The Company calculated basic and diluted net income per share under both the treasury stock method and the two-class method. For the years presented there were no material differences in the net income per share amounts calculated using the two methods. Accordingly, the treasury stock method is disclosed below.
The following table presents amounts used in computing net income per share and the effect on the weighted-average number of shares of dilutive potential common shares:
Year Ended June 30,202120202019
Net Income$144,757 $24,042 $143,993 
Average Shares Outstanding: 
Weighted-average common shares outstanding for basic computation38,758 38,658 38,670 
Dilutive effect of potential common shares538 341 490 
Weighted-average common shares outstanding for dilutive computation39,296 38,999 39,160 
Net Income Per Share — Basic$3.73 $0.62 $3.72 
Net Income Per Share — Diluted$3.68 $0.62 $3.68 
Stock awards relating to 234, 726 and 226 shares of common stock were outstanding at June 30, 2021, 2020 and 2019, respectively, but were not included in the computation of diluted earnings per share for the fiscal years then ended as they were anti-dilutive.