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Note 12 - Retirement Benefits

6 Months Ended

Dec. 31, 2019

Pension and Other Postretirement Benefits Disclosure [Text Block]

12) 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 six months ended December 31, 2019 and 2018 consisted of the following components (in thousands):

	*U.S. Plans*						*Non-U.S. Plans*
	*Three Months Ended*						*Three Months Ended*
	*December 31,*						*December 31,*
	*2019*			*2018*			*2019*			*2018*
Service cost	$	1		$	1		$	10		$	9
Interest cost		2,271			2,586			213			249
Expected return on plan assets		(3,288	)		(3,385	)		(221	)		(225	)
Recognized net actuarial loss		1,275			1,030			165			84
Net periodic benefit cost	$	259		$	232		$	167		$	117

	*U.S. Plans*						*Non-U.S. Plans*
	*Six Months Ended*						*Six Months Ended*
	*December 31,*						*December 31,*
	*2019*			*2018*			*2019*			*2018*
Service cost	$	2		$	2		$	20		$	17
Interest cost		4,542			5,171			418			503
Expected return on plan assets		(6,575	)		(6,771	)		(432	)		(453	)
Recognized net actuarial loss		2,551			2,061			323			170
Net periodic benefit cost	$	520		$	463		$	329		$	237

The contributions made to defined benefit plans for the three and six months ended December 31, 2019 and 2018 are presented below along with remaining contributions to be made for fiscal year 2020 (in thousands):

	*Fiscal Year 2020*				*Fiscal Year 2019*				*Remaining*
	*Three Months Ended*		*Six Months Ended*		*Three Months Ended*		*Six Months Ended*		*Contributions*
Contributions to defined benefit plans	*December 31, 2019*		*December 31, 2019*		*December 31, 2018*		*December 31, 2018*		*FY 2020*
United States, funded plan	$	1,468	$	1,468	$	-	$	-	$	2,880
United States, unfunded plan		58		114		56		111		102
United Kingdom		193		377		192		388		-
Germany, unfunded plan		-		-		-		-		280
Ireland		-		-		-		-		63
	$	1,719	$	1,959	$	248	$	499	$	3,325