Employees' Savings Plan

12 Months Ended

Jun. 30, 2017

Retirement Benefits [Abstract]

Compensation and Employee Benefit Plans [Text Block]

Employees’ Savings Plans

Defined contribution plans

We maintain certain government mandated and defined contribution plans throughout the world. The most significant is our defined contribution retirement plan in the U.S. (the “Plan”) that complies with Section 401(k) of the Internal Revenue Code. Substantially all employees in the U.S. are eligible to participate in the Plan. Under the provisions of the Plan, employees may voluntarily contribute up to 80% of eligible compensation, subject to IRS limitations. We match 50% of each participant’s voluntary contributions, subject to a maximum company contribution of 3% of the participant’s eligible compensation. Employee contributions are fully vested when contributed. Company matching contributions vest over 4 years.

We expensed $11,691, $9,073 and $8,619 for our government mandated and defined contribution plans in the years ended June 30, 2017, 2016 and 2015, respectively. Our expenses from these plans have increased during the year ended June 30, 2017 due to increased headcount, as well as the full year impact of our business acquisitions during the prior period.

Defined benefit plan

We currently have a defined benefit plan that covers substantially all of our employees in Switzerland. Our Swiss plan is a government-mandated retirement fund with benefits generally earned based on years of service and compensation during active employment; however, the level of benefits varies within the plan. Eligibility is determined in accordance with local statutory requirements. Under this plan, both we and certain of our employees with annual earnings in excess of government determined amounts are required to make contributions into a fund managed by an independent investment fiduciary. Employer contributions must be in an amount at least equal to the employee’s contribution. Minimum employee contributions are based on the respective employee’s age, salary, and gender. As of June 30, 2017 and 2016, the plan had an unfunded net pension obligation of approximately $1,658 and $4,007, respectively, and plan assets which totaled approximately $3,920and $7,080, respectively. For the years ended June 30, 2017, 2016 and 2015 we recognized expense totaling $1,191, $1,820, and $2,043, respectively, related to our Swiss plan. During fiscal 2016, a component of the total expense related to a settlement loss of $506, as a result of headcount reductions in our Switzerland office.