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Consolidated Statements Of Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2018
Statement of Comprehensive Income [Abstract]      
Net Income $ 136,983 [1],[2],[3] $ 150,549 [4],[5] $ 135,314
Defined Benefit Pension and Postretirement Benefit Plans:      
Net (loss) gain arising during the period, before tax (2,662) (2,902) 3,041
Amortization of loss, before tax 546 410 536
Amortization of prior service credit, before tax (182) (182) (182)
Total Other Comprehensive (Loss) Income, Before Tax (2,298) (2,674) 3,395
Tax Attributes of Items in Other Comprehensive (Loss) Income:      
Net (loss) gain arising during the period, tax 622 678 (710)
Amortization of loss, tax (128) (96) (180)
Amortization of prior service credit, tax 42 43 61
Total Tax Benefit (Expense) 536 625 (829)
Other Comprehensive (Loss) Income, Net of Tax (1,762) (2,049) 2,566
Comprehensive Income $ 135,221 $ 148,500 $ 137,880
[1]
Included in net income were after-tax expenditures for Project Ascent of $2.1 million in the first quarter, or approximately $0.08 per diluted share; $3.7 million in the second quarter, or approximately $0.14 per diluted share; $3.7 million in the third quarter, or approximately $0.13 per diluted share; and $4.2 million in the fourth quarter, or approximately $0.15 per diluted share. The after-tax expense for the fiscal year was $13.7 million, or approximately $0.50 per diluted share.
[2]
Included in the first quarter and fiscal year net income were after-tax restructuring and impairment charges of $0.7 million, or approximately $0.02 per diluted share.
[3]
Included in the third quarter and fourth quarter net income were after-tax expenses totaling $4.2 million and $3.5 million, respectively, or approximately $0.15 and $0.13 per diluted share, respectively, related to certain costs attributed to the impacts of COVID-19, including the temporary increase in pay for our front-line employees, the fourth quarter write-off of engineering costs for a canceled dressing plant expansion project and changes in the Foodservice inventory reserve. The after-tax expense for the fiscal year was $7.7 million, or approximately $0.28 per diluted share.
[4]
Included in the fourth quarter and fiscal year net income were after-tax expenditures for Project Ascent of $1.4 million, or approximately $0.05 per diluted share, and after-tax restructuring and impairment charges of $1.3 million, or approximately $0.05 per diluted share.
[5]
Included in the second quarter and fourth quarter net income was an after-tax benefit of $7.4 million and $5.7 million, respectively, or approximately $0.27 and $0.21 per diluted share, respectively, related to the reduction in the fair value of Angelic’s contingent consideration liability. The after-tax benefit for the fiscal year was $13.1 million, or approximately $0.48 per diluted share.