Retirement Plans and Postretirement Costs (Tables)

12 Months Ended

Jun. 30, 2013

Amounts Included in Accumulated Other Comprehensive Loss, Net of Tax

Amounts included in accumulated other comprehensive loss, net of tax, at June30, 2013, which have not yet been recognized in net periodic benefit cost are as follows (thousands of dollars):

	PensionandSERPBenefits		PostretirementBenefits
Prior service cost (credit)	$	37	$	(2,662	)
Net actuarial loss		17,256		4,313
	$	17,293	$	1,651

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

The following tables summarize the pension, SERP and postretirement plans’ income and expense, funded status and actuarial assumptions for the years indicated (thousands of dollars). We use a June30 measurement date for our pension and postretirement plans.

	Pension and SERP Benefits									Postretirement Benefits
	2013			2012			2011			2013			2012			2011
COMPONENTS OF NET PERIODIC BENEFIT COST:
Service cost	$	216		$	150		$	70		$	15		$	11		$	10
Interest cost		4,447			4,784			4,692			181			227			275
Expected return on plan assets		(6,126	)		(6,411	)		(6,445	)		—			—			—
Amortization of prior service cost (credit)		12			12			12			(764	)		(764	)		(764	)
Amortization of unrecognized net loss		4,453			2,414			2,504			898			673			645
Settlement loss		2,144			—			—			—			—			—
Net Periodic benefit cost	$	5,146		$	949		$	833		$	330		$	147		$	166

	PensionandSERPBenefits							PostretirementBenefits
	June30, 2013			July1, 2012			June30, 2013				July1, 2012
WEIGHTED-AVERAGE ASSUMPTIONS
Benefit Obligations:
Discount rate		5.02	%		4.56	%			5.02	%		4.56	%
Expected return on plan assets		7.5	%		7.5	%			n/a			n/a
Rate of compensation increases—SERP		3.0	%		3.0	%			n/a			n/a
Net Periodic Benefit Cost:
Discount rate		4.56	%		5.57	%			4.56	%		5.57	%
Expected return on plan assets		7.5	%		7.8	%			n/a			n/a
Rate of compensation increases—SERP		3.0	%		3.0	%			n/a			n/a

	Pension and SERP Benefits							Postretirement Benefits
	2013			2012			2013					2012
CHANGE IN PROJECTED BENEFIT OBLIGATION:
Benefit obligation at beginning of year	$	103,383		$	89,609		$		4,475		$		4,586
Service cost		216			150				15				11
Interest cost		4,447			4,784				181				227
Actuarial loss (gain)		(8,381	)		12,663				239				917
Benefits paid		(9,750	)		(3,823	)			(1,370	)			(1,266	)
Benefit obligation at end of year	$	89,915		$	103,383		$		3,540		$		4,475
CHANGE IN PLAN ASSETS:
Fair value of plan assets at beginning of year	$	79,517		$	83,023		$		—		$		—
Actual return on plan assets		11,914			(1,683	)			—				—
Employer contribution		8,753			2,000				1,370				1,266
Benefits paid		(9,750	)		(3,823	)			(1,370	)			(1,266	)
Fair value of plan assets at end of year		90,434			79,517				—				—
Funded status – prepaid(accrued) benefit obligations	$	519		$	(23,866	)	$		(3,540	)	$		(4,475	)
AMOUNTS RECOGNIZED IN CONSOLIDATED BALANCE SHEETS:
Other long-term assets	$	1,983		$	—		$		—		$		—
Accrued payroll and benefits (current liabilities)		—			(5,664	)			(823	)			(1,010	)
Accrued benefit obligations (long-term liabilities)		(1,464	)		(18,202	)			(2,717	)			(3,465	)
Net amount recognized	$	519		$	(23,866	)	$		(3,540	)	$		(4,475	)
CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OTHER COMPREHENSIVE INCOME:
Net periodic benefit cost	$	5,146		$	949		$		330		$		147
Net actuarial (gain) loss		(14,170	)		20,756				238				917
Amortization of prior service (cost) credits		(12	)		(12	)			764				764
Amortization of unrecognized net loss		(6,597	)		(2,414	)			(898	)			(673	)
Total recognized in other comprehensive income, before tax		(20,779	)		18,330				104				1,008
Total recognized in net periodic benefit cost and other comprehensive income	$	(15,633	)	$	19,279		$		434		$		1,155

The Accumulated Benefit Obligations and Projected Benefit Obligations for the Pension and SERP

The following table summarizes the accumulated benefit obligations and projected benefit obligations for the pension and SERP (thousands of dollars):

	Pension					SERP
	June30,2013		July1,2012			June30,2013			July 1,2012
Accumulated benefit obligation	$	88,451		$	96,167		$	1,020		$	6,629
Projected benefit obligation	$	88,451		$	96,167		$	1,464		$	7,216

Significant Effect of Health Care Trend on the Postretirement Benefit

The health care cost trend assumption has a significant effect on the postretirement benefit amounts reported. A 1% change in the health care cost trend rates would have the following effects (thousands of dollars):

	1%Increase		1%Decrease
Effect on total of service and interest cost components in fiscal 2013	$	3	$	(3	)
Effect on postretirement benefit obligation as of June30, 2013	$	59	$	(57	)

Pension Plan Weighted-Average Asset Allocations by Asset Category

The pension plan weighted-average asset allocations by asset category are as follows:

	TargetAllocation			June30,2013			July1,2012
Equity investments		70	%		64	%		64	%
Fixed-income Investments		30	%		30	%		32	%
Other		—			6	%		4	%
Total		100	%		100	%		100	%

Summary, by Asset Category, of the Fair Value of Pension Plan Assets

The following is a summary, by asset category, of the fair value of pension plan assets at the June30, 2013 and June30, 2012 measurement dates (thousands of dollars):

	June30, 2013												June30, 2012
Asset Category	Level1			Level2			Level3			Total				Level 1			Level2			Level3			Total
Cash and cash equivalents	$	—	$		4,572	$		—	$		4,572	$			3,411	$		—	$		—	$		3,411
Equity Securities/Funds:
Small Cap		13,681			—			—			13,681				10,707			—			—			10,707
Mid Cap		9,048			—			—			9,048				8,404			—			—			8,404
Large Cap		18,039			—			—			18,039				17,872			—			—			17,872
International		17,600			—			—			17,600				13,650			—			—			13,650
Fixed Income Bond Funds/Bonds		1,024			21,383			—			22,407				22,313			—			—			22,313
Hedge Funds		—			—			5,087			5,087				—			—			3,160			3,160
Total	$	59,392	$		25,955	$		5,087	$		90,434	$			76,357	$		—	$		3,160	$		79,517

Changes in Level 3 Investments for the Pension Plan Assets

The following table summarizes the changes in Level 3 investments for the pension plan assets (thousands of dollars):

	FairValue June30,2012		NetPurchases and Sales			Realizedand Unrealized Gain, net			FairValue June30,2013
Hedge Funds	$	3,160		$	1,420		$	507	$	5,087

Expected Future Benefit Payments

Wedonotexpecttomakecontributions toourSERPinfiscal2014.The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (thousands of dollars):

	PensionandSERPBenefits		PostretirementBenefits
2014	$	4,318		$	823
2015	$	5,269		$	724
2016	$	5,030		$	594
2017	$	5,240		$	491
2018	$	5,463		$	392
2019-2023	$	30,903		$	797