Other Income (Expense), net

9 Months Ended

Mar. 28, 2021

Other Income And Expenses [Abstract]

Net other income (expense) included in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income (Loss) primarily included foreign currency transaction gains and losses, realized and unrealized gains on our Mexican peso currency forward contracts, net periodic pension and postretirement benefit costs, other than the service cost component, related to our Supplemental Executive Retirement Plan (“SERP”) and postretirement plans and Rabbi Trust gains and losses. Foreign currency transaction gains and losses resulted from activity associated with foreign denominated assets held by our Mexican subsidiaries. We entered into the Mexican Peso currency forward contracts described above to minimize earnings volatility resulting from changes in exchange rates affecting the U.S. dollar cost of our Mexican operations. Unrealized gains and losses on the peso forward contracts recognized as a result of mark-to-market adjustments as of March 28, 2021 may or may not be realized in future periods, depending on the actual Mexican peso to U.S. dollar exchange rates experienced during the balance of the contract period. The Rabbi Trust assets fund our Amended and Restated Supplemental Executive Retirement Plan. The investments held in this Trust are considered trading securities.

The impact of these items for each of the periods presented was as follows (in thousands):

	Three Months Ended						Nine Months Ended
	March 28, 2021			March 29, 2020			March 28, 2021			March 29, 2020
Foreign Currency Transaction Gain (loss)	$	386		$	2,515		$	(1,926	)	$	2,067
Unrealized Gain (Loss) on Peso Forward Contracts		32			(1,048	)		512			(1,048	)
Realized Gain on Peso Forward Contracts		11			—			87			—
Pension and Postretirement Plans Cost		(106	)		(118	)		(314	)		(352	)
Rabbi Trust Gain (Loss)		154			(550	)		472			(365	)
Other		(22	)		250			(2	)		673
	$	455		$	1,049		$	(1,171	)	$	975