Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2019

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:



	2019		2018		2017
Construction in progress in Accounts Payable	$	7,852	$	2,070	$	622

Schedule Of Depreciation Expense

The following table sets forth depreciation expense, including capital lease amortization, in each of the years ended June 30:



	2019		2018		2017
Depreciation expense	$	26,751	$	22,168	$	20,430

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:



	2019		2018		2017
Advertising expense as a percentage of net sales	2	%	2	%	3	%

Schedule Of Basic And Diluted Net Income Per Common Share Calculations

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



	2019			2018			2017
Net income	$	150,549		$	135,314		$	115,314
Net income available to participating securities	(259		)	(271		)	(196		)
Net income available to common shareholders	$	150,290		$	135,043		$	115,118

Weighted average common shares outstanding - basic	27,438			27,403			27,376
Incremental share effect from:
Nonparticipating restricted stock	2			3			3
Stock-settled stock appreciation rights	97			53			61
Weighted average common shares outstanding - diluted	27,537			27,459			27,440

Net income per common share - basic	$	5.48		$	4.93		$	4.21
Net income per common share - diluted	$	5.46		$	4.92		$	4.20

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:



	2019			2018
Accumulated other comprehensive loss at beginning of year	$	(8,259	)	$	(8,936	)
Defined Benefit Pension Plan Items:
Net (loss) gain arising during the period	(2,771		)	2,987
Amortization of unrecognized net loss ⁽¹⁾	447			572
Postretirement Benefit Plan Items: ⁽²⁾
Net (loss) gain arising during the period	(131		)	54
Amortization of unrecognized net gain	(37		)	(36		)
Amortization of prior service credit	(182		)	(182		)
Total other comprehensive (loss) income, before tax	(2,674		)	3,395
Total tax benefit (expense)	625			(829		)
Other comprehensive (loss) income, net of tax	(2,049		)	2,566
Tax Cuts and Jobs Act of 2017, Reclassification from accumulated other comprehensive loss to retained earnings	—			(1,889		)
Accumulated other comprehensive loss at end of year	$	(10,308	)	$	(8,259	)


(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.