Retirement Plans and Postretirement Costs (Tables)

12 Months Ended

Jun. 30, 2024

Retirement Benefits [Abstract]

Amounts Included in Accumulated Other Comprehensive Loss, Net of Tax

Amounts included in accumulated other comprehensive loss, net of tax, at June 30, 2024, which have not yet been recognized in net periodic benefit cost were as follows (thousands of dollars):

	SERP		Postretirement
Net actuarial loss	$	465	$	508

Amounts Included in Accumulated Other Comprehensive Loss Expected to be Recognized, Net of Tax

Unrecognized net actuarial losses included in accumulated other comprehensive loss at June 30, 2024 which are expected to be recognized in net periodic benefit cost (credit) in fiscal 2024, net of tax, for the SERP and postretirement plans are as follows (thousands of dollars):

	SERP		Postretirement
Net actuarial loss	$	20	$	127

Summary of Supplemental Executive Retirement Plan and Postretirement Plans Income and Expense

The following tables summarize the SERP and postretirement plans’ income and expense, funded status and actuarial assumptions for the years indicated (thousands of dollars). We use a June 30 measurement date for our SERP and postretirement plans.

	SERP Benefits				Postretirement Benefits
	Years Ended				Years Ended
	June 30, 2024		July 2, 2023		June 30, 2024		July 2, 2023
COMPONENTS OF NET PERIODIC BENEFIT    COST (CREDIT):
Service cost	$	84	$	80	$	9	$	10
Interest cost		90		101		63		62
Plan settlements		—		217		—		—
Amortization of unrecognized net loss		46		99		196		243
Net periodic benefit cost (credit)	$	220	$	497	$	268	$	315

WEIGHTED-AVERAGE ASSUMPTIONS:
Benefit Obligations:
Discount rate (SERP / postretirement life)		5.21	%		5.07	%		5.45	%		5.20	%
Discount rate (postretirement health)								5.23	%		5.06	%
Rate of compensation increases		5.46	%		4.61	%	n/a			n/a
Net Periodic Benefit Cost:
Discount rate (SERP / postretirement life)		5.07	%		4.26	%		5.20	%		4.57	%
Discount rate (postretirement health)								5.06	%		4.23	%
Rate of compensation increases		4.00	%		4.00	%	n/a			n/a
CHANGE IN PROJECTED BENEFIT    OBLIGATION:
Benefit obligation at beginning of year	$	2,305		$	3,164		$	1,296		$	1,477
Service cost		84			80			9			10
Interest cost		90			101			63			62
Actuarial loss (gain)		118			(163	)		(128	)		(179	)
Plan settlements		—			(863	)		—			—
Benefits paid		(14	)		(14	)		(82	)		(74	)
Benefit obligation at end of year	$	2,583		$	2,305		$	1,158		$	1,296
CHANGE IN PLAN ASSETS:
Fair value of plan assets at beginning of year	$	—		$	—		$	—		$	—
Employer contribution		14			877			82			74
Benefits paid		(14	)		(877	)		(82	)		(74	)
Fair value of plan assets at end of year	$	—		$	—		$	—		$	—
Funded status – accrued benefit obligations	$	(2,583	)	$	(2,305	)	$	(1,158	)	$	(1,296	)
AMOUNTS RECOGNIZED IN CONSOLIDATED    BALANCE SHEETS:
Accrued payroll and benefits (current liabilities)		(1,204	)		(1,099	)		(108	)		(140	)
Accrued benefit obligations (long-term liabilities)		(1,379	)		(1,206	)		(1,050	)		(1,157	)
Net amount recognized	$	(2,583	)	$	(2,305	)	$	(1,158	)	$	(1,297	)

	SERP Benefits						Postretirement Benefits
	Years Ended						Years Ended
	June 30, 2024			July 2, 2023			June 30, 2024			July 2, 2023
CHANGES IN PLAN ASSETS AND BENEFIT    OBLIGATIONS RECOGNIZED IN OTHER    COMPREHENSIVE INCOME:
Net periodic benefit cost	$	220		$	497		$	268		$	315
Net actuarial loss (gain)		118			(163	)		(128	)		(179	)
Plan settlements		—			(217	)		—			—
Amortization of unrecognized net loss		(46	)		(99	)		(196	)		(243	)
Total recognized in other comprehensive    loss (income), before tax		72			(479	)		(324	)		(422	)
Total recognized in net periodic benefit    cost and other comprehensive loss,    before tax	$	292		$	18		$	(56	)	$	(107	)

Expected Future Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid during the fiscal years noted below (thousands of dollars):

	SERP Benefits		Postretirement Benefits
2025	$	1,205	$	108
2026	$	14	$	87
2027	$	14	$	91
2028	$	17	$	92
2029	$	18	$	99
2030-2034	$	2,633	$	509

Schedule of 401(k) Plan Contribution

Our contributions to the 401(k) Plan were as follows (thousands of dollars):

	Years Ended
	June 30, 2024		July 2, 2023
Company contributions	$	1,860	$	1,829