Other Income (Expense), net

9 Months Ended

Mar. 27, 2022

Other Income And Expenses [Abstract]

Net other income (expense) included in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income primarily included foreign currency transaction gains and losses, realized and unrealized gains or losses 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 27, 2022 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 27, 2022			March 28, 2021			March 27, 2022			March 28, 2021
Foreign Currency Transaction (Loss) Gain	$	(319	)	$	386		$	(76	)	$	(1,926	)
Unrealized Gain on Peso Forward Contracts		724			32			500			512
Realized Gain on Peso Forward Contracts, net		65			11			200			87
Pension and Postretirement Plans Cost		(120	)		(106	)		(360	)		(314	)
Rabbi Trust (Loss) Gain		(130	)		154			(60	)		472
Other		65			(22	)		116			(2	)
	$	285		$	455		$	320		$	(1,171	)