Note 15. Subsequent Event

6 Months Ended

Dec. 31, 2013

Subsequent Events [Abstract]

Subsequent Event

Subsequent Event

On January 20, 2014, the Company announced that its Board of Directors unanimously approved a plan to spin off its EMS segment.  The separation will result in two independent publicly-traded companies:  Kimball International, Inc., an industry leader in the sale and manufacture of quality office and hospitality furniture; and Kimball Electronics, Inc., a leading global provider of electronic manufacturing services to the automotive, medical, industrial, and public safety markets. The Company expects the spin-off, which is intended to be tax-free to Share Owners, to be completed in approximately 8 - 12 months. 

Execution of the transaction requires further work on structure, management, governance and other significant matters.  The completion of the spin-off is subject to certain customary conditions, including receipt of a legal opinion as to the tax-free nature of the spin-off and regulatory approvals, as well as certain other matters.  The Company can make no assurance that any spin-off transaction will ultimately occur, or, if one does occur, its terms or timing.

The disclosures within these condensed consolidated financial statements do not take into account the proposed spin-off of the EMS segment.