Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2018

Schedule Of Construction In Progress In Accounts Payable

Purchases of property, plant and equipment included in Accounts Payable and excluded from the property additions and the change in accounts payable in the Consolidated Statements of Cash Flows at June 30 were as follows:



	2018		2017		2016
Construction in progress in Accounts Payable	$	2,070	$	622	$	1,000

Schedule Of Depreciation Expense

The following table sets forth depreciation expense in each of the years ended June 30:



	2018		2017		2016
Depreciation expense	$	22,168	$	20,430	$	20,114

Schedule Of Advertising Expense As A Percentage Of Net Sales

The following table summarizes advertising expense as a percentage of net sales in each of the years ended June 30:



	2018		2017		2016
Advertising expense as a percentage of net sales	2	%	3	%	3	%

Schedule Of Basic And Diluted Net Income Per Common Share Calculations

Basic and diluted net income per common share were calculated as follows:



	2018			2017			2016
Net income	$	135,314		$	115,314		$	121,764
Net income available to participating securities	(271		)	(196		)	(242		)
Net income available to common shareholders	$	135,043		$	115,118		$	121,522

Weighted average common shares outstanding - basic	27,403			27,376			27,336
Incremental share effect from:
Nonparticipating restricted stock	3			3			3
Stock-settled stock appreciation rights	53			61			34
Weighted average common shares outstanding - diluted	27,459			27,440			27,373

Net income per common share - basic	$	4.93		$	4.21		$	4.45
Net income per common share - diluted	$	4.92		$	4.20		$	4.44

Schedule Of Amounts Reclassified Out Of Accumulated Other Comprehensive Loss

The following table presents the amounts reclassified out of accumulated other comprehensive loss by component:



	2018			2017
Accumulated other comprehensive loss at beginning of year	$	(8,936	)	$	(11,350	)
Defined Benefit Pension Plan Items:
Net gain arising during the period	2,987			3,339
Amortization of unrecognized net loss ⁽¹⁾	572			715
Postretirement Benefit Plan Items: ⁽²⁾
Net gain (loss) arising during the period	54			(5		)
Amortization of unrecognized net gain	(36		)	(38		)
Amortization of prior service credit	(182		)	(182		)
Total other comprehensive income, before tax	3,395			3,829
Total tax expense	(829		)	(1,415		)
Other comprehensive income, net of tax	2,566			2,414
Tax Cuts and Jobs Act of 2017, Reclassification from accumulated other comprehensive loss to retained earnings ⁽³⁾	(1,889		)	—
Accumulated other comprehensive loss at end of year	$	(8,259	)	$	(8,936	)


(1)	Included in the computation of net periodic benefit income/cost. See Note 12 for additional information.


(2)	Additional disclosures for postretirement benefits are not included as they are not considered material.


(3)	See further discussion of this reclassification under the caption “Recently Adopted Accounting Standards” within Note 1.