XML 47 R34.htm IDEA: XBRL DOCUMENT v3.7.0.1
Pension Benefits (Tables) - Pension Benefits [Member]
12 Months Ended
Jun. 30, 2017
Defined Benefit Plan Disclosure [Line Items]  
Discount Rate
The actuarial present value of benefit obligations summarized below was based on the following assumption:
 
2017
 
2016
Weighted-average assumption as of June 30
 
 
 
Discount rate
3.68
%
 
3.39
%
Net Periodic Benefit Costs Assumptions
The net periodic benefit costs were determined utilizing the following beginning-of-the-year assumptions:
 
2017
 
2016
 
2015
Discount rate
3.39
%
 
4.12
%
 
4.02
%
Expected long-term return on plan assets
7.00
%
 
7.00
%
 
7.00
%
Target And Actual Asset Allocations
The target and actual asset allocations for our plans at June 30 by asset category were as follows:
 
Target Percentage
of Plan Assets at
June 30
 
Actual Percentage of Plan Assets
 
2017
 
2017
 
2016
Cash and equivalents
0%-10%
 
3
%
 
2
%
Equity securities
30%-70%
 
49

 
50

Fixed income
30%-70%
 
48

 
48

Total
 
 
100
%
 
100
%
Summary Of The Fair Values And Levels Within The Fair Value Hierarchy Of Pension Plan Assets
The following table summarizes the fair values and levels, within the fair value hierarchy, for our plan assets at June 30:
 
June 30, 2017
Asset Category
Level 1
 
Level 2
 
Level 3
 
Total
Cash and equivalents
$
472

 
$

 
$

 
$
472

Money market funds
599

 

 

 
599

U.S. government obligations

 
3,598

 

 
3,598

Municipal obligations

 
36

 

 
36

Corporate obligations

 
3,805

 

 
3,805

Mortgage obligations

 
2,199

 

 
2,199

Mutual funds fixed income
8,109

 

 

 
8,109

Mutual funds equity
17,951

 

 

 
17,951

Total
$
27,131

 
$
9,638

 
$

 
$
36,769

 
 
 
 
 
 
 
 
 
June 30, 2016
Asset Category
Level 1
 
Level 2
 
Level 3
 
Total
Cash and equivalents
$
557

 
$

 
$

 
$
557

Money market funds
267

 

 

 
267

U.S. government obligations

 
4,785

 

 
4,785

Municipal obligations

 
139

 

 
139

Corporate obligations

 
2,927

 

 
2,927

Mortgage obligations

 
1,998

 

 
1,998

Mutual funds fixed income
7,135

 

 

 
7,135

Mutual funds equity
17,874

 

 

 
17,874

Total
$
25,833

 
$
9,849

 
$

 
$
35,682

Schedule Of Change In Benefit Obligation
 
2017
 
2016
Change in benefit obligation
 
 
 
Benefit obligation at beginning of year
$
44,152

 
$
42,042

Interest cost
1,457

 
1,685

Actuarial (gain) loss
(2,297
)
 
2,683

Benefits paid
(2,371
)
 
(2,258
)
Benefit obligation at end of year
$
40,941

 
$
44,152

Schedule Of Change In Plan Assets
 
2017
 
2016
Change in plan assets
 
 
 
Fair value of plan assets at beginning of year
$
35,682

 
$
37,146

Actual return on plan assets
3,458

 
794

Employer contributions

 

Benefits paid
(2,371
)
 
(2,258
)
Fair value of plan assets at end of year
$
36,769

 
$
35,682

Schedule Of Reconciliation Of Funded Status
 
2017
 
2016
Reconciliation of funded status
 
 
 
Net accrued benefit cost
$
(4,172
)
 
$
(8,470
)
Schedule Of Amounts Recognized In The Consolidated Balance Sheets
 
2017
 
2016
Amounts recognized in the Consolidated Balance Sheets consist of
 
 
 
Prepaid benefit cost (Other Noncurrent Assets)
$
172

 
$
143

Accrued benefit liability (Other Noncurrent Liabilities)
(4,344
)
 
(8,613
)
Net amount recognized
$
(4,172
)
 
$
(8,470
)
Schedule Of Accumulated Benefit Obligation
 
2017
 
2016
Accumulated benefit obligation
$
40,941

 
$
44,152

Plans With Benefit Obligations In Excess Of The Fair Value Of Plan Assets
The following table discloses, in the aggregate, those plans with benefit obligations in excess of the fair value of plan assets at the June 30 measurement date:
 
2017
 
2016
Benefit obligations
$
38,236

 
$
41,301

Fair value of plan assets at end of year
$
33,892

 
$
32,688

Amounts Recognized In Accumulated Other Comprehensive Loss
Amounts recognized in accumulated other comprehensive loss at June 30 were as follows:
 
2017
 
2016
Net actuarial loss
$
16,380

 
$
20,434

Income taxes
(6,052
)
 
(7,550
)
Total
$
10,328

 
$
12,884

Amounts In Accumulated Other Comprehensive Loss Expected To Be Recognized As Components Of Net Periodic Benefit Cost During Next Fiscal Year
The amount in accumulated other comprehensive loss expected to be recognized as a component of net periodic benefit cost during the next fiscal year is as follows:
 
2018
Net actuarial loss
$
572

Components Of Net Periodic Benefit Income
The following table summarizes the components of net periodic benefit income for our pension plans at June 30:
 
2017
 
2016
 
2015
Components of net periodic benefit income
 
 
 
 
 
Interest cost
$
1,457

 
$
1,685

 
$
1,612

Expected return on plan assets
(2,416
)
 
(2,520
)
 
(2,632
)
Amortization of unrecognized net loss
715

 
539

 
429

Net periodic benefit income
$
(244
)
 
$
(296
)
 
$
(591
)
Benefit Payments Estimated For Future Years
Benefit payments estimated for future years are as follows:
 
 
2018
$
2,348

2019
$
2,348

2020
$
2,376

2021
$
2,399

2022
$
2,441

2023 - 2027
$
12,394