Note 11 - Retirement Benefits

3 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Retirement Benefits [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 periods ended consisted of the following components (in thousands):

	U.S. Plans						Non-U.S. Plans
	Three Months Ended						Three Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Service cost	$	-		$	1		$	44		$	63
Interest cost		2,397			1,830			262			190
Expected return on plan assets		(2,993	)		(3,260	)		(245	)		(211	)
Recognized net actuarial loss		953			1,384			(15	)		84
Amortization of prior service cost		-			-			(1	)		(1	)
Net periodic benefit cost	$	357		$	(45	)	$	45		$	125

The following table sets forth the amounts recognized for the Company's defined benefit pension plans (in thousands):

Amounts recognized in the consolidated balance sheets consist of:	September 30, 2022			June 30, 2022
Prepaid benefit cost	$	5,823		$	6,295
Current liabilities		(521	)		(456	)
Non-current liabilities		(46,602	)		(47,695	)
Net amount recognized	$	(41,300	)	$	(41,856	)

The contributions made to defined benefit plans are presented below along with remaining contributions to be made for fiscal year 2023 (in thousands):

	Fiscal Year 2023		Fiscal Year 2022		Remaining
	Three Months Ended		Three Months Ended		Contributions
Contributions to defined benefit plans	September 30, 2022		September 30, 2021		FY 2023
United States, funded plan	$	-	$	-	$	-
United States, unfunded plan		52		52		148
United Kingdom		-		-		-
Germany, unfunded plan		-		-		234
Ireland		-		-		58
	$	52	$	52	$	440