Note 11 - Retirement Benefits

9 Months Ended

Mar. 31, 2016

Pension and Other Postretirement Benefits Disclosure [Text Block]

11) Retirement Benefits

The Company has defined benefit pension plans covering certain current and former employees both inside and outside of the U.S. The Company’s pension plan for U.S. employees is frozen for substantially all participants and has been replaced with a defined contribution benefit plan.

Net Periodic Benefit Cost for the Company’s U.S. and Foreign pension benefit plans for the three and nine months ended March 3

1, 2016 and 2015 consisted of the following components (in thousands):

	U.S. Plans						Non-U.S. Plans
	Three Months Ended						Three Months Ended
	March 31,						March 31,
	201 6			2015			201 6			2015
Service cost	$	18		$	53		$	9		$	10
Interest cost		2,872			2,619			346			389
Expected return on plan assets		(3,466	)		(3,489	)		(313	)		(355	)
Recognized net actuarial loss		994			986			201			180
Amortization of prior service cost		4			14			(12	)		(12	)
Net periodic benefit cost	$	422		$	183		$	231		$	212

	U.S. Plans						Non-U.S. Plans
	Nine Months Ended						Nine Months Ended
	March 31,						March 31,
	201 6			2015			2016			2015
Service cost	$	52		$	158		$	26		$	34
Interest cost		8,617			7,857			1,080			1,229
Expected return on plan assets		(10,398	)		(10,466	)		(980	)		(1,118	)
Recognized net actuarial loss		2,984			2,959			631			569
Amortization of prior service cost		11			41			(36	)		(40	)
Net periodic benefit cost	$	1,266		$	549		$	721		$	674

The Company expects to pay $1.4 million in contributions to its defined benefit plans during fiscal 2016. Contributions of $0.3 million and $1.0 million were made during the three and nine months ended March 31, 2016 compared to $0.6 million and $1.1 million during the three and nine months ended March 31, 2015, respectively. Required contributions of $0.9 million will be paid to the Company’s U.K. defined benefit plan during 2016. The Company also expects to make contributions of $0.2 million and $0.3 million to its unfunded defined benefit plans in the U.S. and Germany, respectively during the current fiscal year.