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EMPLOYEE BENEFIT AND RETIREMENT PLANS (Tables)
 12 Months Ended
Jun. 30, 2022
Retirement Benefits [Abstract]  
Schedule of net periodic benefit cost not yet recognized These amounts are as of the remeasurement date of June 30, 2021, in thousands.
Before remeasurementEffect of remeasurementAfter remeasurementEffect of settlementAfter settlement
Benefit obligation$133,748 $75 $133,823 $(11,411)$122,412 
Market value of assets$107,259 $— $107,259 $(11,411)$95,848 
Funded status$26,489 $75 $26,564 $— $26,564 
Unrecognized (gain) loss$1,606 $(75)$1,531 $(130)$1,401 
Prepaid / (Accrued)$28,095 $— $28,095 $(130)$27,965 
Schedule of net benefit costs The table below summarizes the total net periodic benefit cost for the Post Retirement Benefit plan for fiscal 2021, in thousands:
7/1/20 to 1/31/212/1/21 to 6/30/21Total expense
(before amendment)(after amendment)for fiscal 2021
Service cost$50 $15 $65 
Interest cost$120 $21 $141 
Amortization of prior service (credit)$(313)$(614)$(927)
Amortization of net (gain)$97 $97 $194 
Total expense$(46)$(481)$(527)
Measurement dateJune 30, 2020January 31, 2021n/a
Discount rate2.73 %2.57 %n/a
Schedule of allocation of plan assets
The table below sets forth the actual asset allocation for the assets within the Company’s plans.
20222021
Asset category:
Cash equivalents2 %2 %
Fixed income40 %28 %
Equities32 %39 %
Mutual and pooled funds26 %31 %
100 %100 %
Schedule of portfolio by valuation category
The tables below show the portfolio by valuation category as of June 30, 2022 and June 30, 2021 (in thousands):
June 30, 2022
Asset CategoryLevel 1Level 2Level 3Total%
Cash Equivalents$2,620 $— $— $2,620 2 %
Fixed Income— 44,562 — 44,562 40 %
Equities33,869 965 — 34,834 31 %
Mutual & Pooled Funds— 28,598 — 28,598 26 %
Total$36,489 $74,125 $— $110,614 100 %
June 30, 2021
Asset CategoryLevel 1Level 2Level 3Total%
Cash Equivalents$2,457 $— $— $2,457 2 %
Fixed Income— 38,155 — 38,155 28 %
Equities51,095 1,887 — 52,982 39 %
Mutual & Pooled Funds1,703 39,895 — 41,598 31 %
Total$55,255 $79,937 $— $135,192 100 %
Schedule of change is plan benefit obligations
The status of these defined benefit plans is as follows (in thousands): 
202220212020
Change in benefit obligation
Benefit obligation at beginning of year$172,617 $184,190 $169,680 
Interest cost4,113 4,476 5,417 
Plan Settlement— (11,411)— 
Exchange rate changes(4,985)5,238 (1,013)
Benefits paid(6,941)(9,019)(7,203)
Actuarial (gain) loss(30,501)(857)17,309 
Benefit obligation at end of year$134,303 $172,617 $184,190 
Change in plan assets
Fair value of plan assets at beginning of year135,192 123,826 122,033 
Actual return on plan assets(15,941)19,616 2,163 
Employer contributions2,517 7,999 7,687 
   Plan Settlement— (11,411)— 
Benefits paid(6,941)(9,019)(7,203)
Exchange rate changes(4,213)4,181 (854)
Fair value of plan assets at end of year110,614 135,192 123,826 
Funded status at end of year$(23,689)$(37,425)$(60,364)
Amounts recognized in balance sheet
Current liability$(1,157)$(1,556)$(373)
Non-current liability(22,532)(35,869)(59,991)
Net amount recognized in balance sheet$(23,689)$(37,425)$(60,364)
Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Accumulated loss$6,883 $(3,685)$(19,115)
Amounts not yet recognized as a component of net periodic benefit cost6,883 (3,685)(19,115)
Accumulated net periodic benefit cost in excess of contributions(30,572)(33,740)(41,249)
Net amount recognized$(23,689)$(37,425)$(60,364)
Components of net periodic benefit cost
Interest cost$4,113 $4,476 $5,417 
Expected return on plan assets(4,378)(4,457)(5,193)
Settlement (gain) recognized— (130)— 
Recognized actuarial loss57 53 16,753 
Net periodic (benefit)cost$(208)$(58)$16,977 
Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Net loss$(57)$(57)$(38)
Information for pension plans with accumulated benefits in excess of plan assets
Projected benefit obligation$134,303 $172,617 $184,190 
Accumulated benefit obligation$134,303 $172,617 $184,190 
Fair value of assets$110,614 $135,192 $123,826 
U.S. Plan:
The status of the U.S. defined benefit plan is as follows (in thousands):
202220212020
Change in benefit obligation
Benefit obligation at beginning of year$124,633 $138,131 $126,380 
Interest cost3,274 3,689 4,417 
Plan Settlement— (11,411)— 
Benefits paid(5,191)(5,880)(5,682)
Actuarial loss(22,136)104 13,016 
Benefit obligation at end of year$100,580 $124,633 $138,131 
Weighted average assumptions – benefit obligation
Discount rate4.77 %2.69 %2.73 %
Rate of compensation increasen/an/an/a
Change in plan assets
Fair value of plan assets at beginning of year$95,848 $87,292 $85,150 
Actual return on plan assets(10,633)18,864 1,071 
Employer contributions1,523 6,983 6,753 
   Plan Settlement— (11,411)— 
Benefits paid(5,191)(5,880)(5,682)
Fair value of plan assets at end of year81,547 95,848 87,292 
Funded status at end of year$(19,033)$(28,785)$(50,839)
Amounts recognized in balance sheet
Current liability$(1,157)$(1,556)$(373)
Noncurrent liability(17,876)(27,229)(50,466)
Net amount recognized in balance sheet$(19,033)$(28,785)$(50,839)
Weighted average assumptions – net periodic benefit cost
Discount rate2.69 %2.73 %3.56 %
Rate of compensation increaseVariesVariesVaries
Return on plan assets3.56 %4.25 %5.00 %
Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss
 Income (loss)$8,650 $464 $(14,507)
Amounts not yet recognized as a component of net periodic benefit cost8,650 464 (14,507)
Accumulated contributions less than net periodic benefit cost(27,683)(29,249)(36,332)
Net amount recognized$(19,033)$(28,785)$(50,839)
Components of net periodic benefit cost
Interest cost$3,274 $3,689 $4,417 
Expected return on plan assets(3,374)(3,712)(4,249)
Settlement (gain) recognized— (130)— 
Recognized actuarial loss57 53 14,883 
Net periodic (benefit) cost$(43)$(100)$15,051 
Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Net loss(57)(57)(53)
Information for plan with accumulated benefits in excess of plan assets
Projected benefit obligation$100,580 $124,633 $138,131 
Accumulated benefit obligation$100,580 $124,633 $138,131 
Fair value of assets$81,547 $95,848 $87,292 
U.K. Plan:
The status of the U.K. defined benefit plan is as follows (in thousands):
202220212020
Change in benefit obligation
Benefit obligation at beginning of year$47,984 $46,059 $43,300 
Interest cost839 787 1,000 
Exchange rate changes(4,985)5,238 (1,013)
Benefits paid(1,750)(3,139)(1,521)
Actuarial (gain) loss(8,365)(961)4,293 
Benefit obligation at end of year$33,723 $47,984 $46,059 
Weighted average assumptions - benefit obligation
Discount rate3.82 %1.86 %1.59 %
Rate of compensation increasen/an/an/a
Change in plan assets
Fair value of plan assets at beginning of year$39,344 $36,534 $36,883 
Actual return on plan assets(5,308)752 1,092 
Employer contributions994 1,016 934 
Benefits paid(1,750)(3,139)(1,521)
Exchange rate changes(4,212)4,181 (854)
Fair value of plan assets at end of year29,068 39,344 36,534 
Funded status at end of year$(4,655)$(8,640)$(9,525)
Amounts recognized in balance sheet
Noncurrent liability(4,655)(8,640)(9,525)
Net amount recognized in balance sheet(4,655)(8,640)(9,525)
Weighted average assumptions – net periodic benefit cost
Discount rate1.86 %1.59 %2.39 %
Rate of compensation increasen/an/an/a
Return on plan assets2.69 %1.88 %2.62 %
Amounts not yet reflected in net periodic benefit costs and included in accumulated other comprehensive loss
Accumulated loss$(1,766)$(4,149)$(4,608)
Amounts not yet recognized as a component of net periodic benefit cost(1,766)(4,149)(4,608)
Accumulated net periodic benefit cost in excess of contributions(2,889)(4,491)(4,917)
Net amount recognized$(4,655)$(8,640)$(9,525)
Components of net periodic benefit cost
Interest cost839 787 1,000 
Expected return on plan assets(1,004)(745)(944)
Amortization of net loss— — 1,870 
Net periodic benefit cost$(165)$42 $1,926 
Information for plan with accumulated benefits in excess of plan assets
Projected benefit obligation$33,723 $47,984 $46,059 
Accumulated benefit obligation$33,723 $47,984 $46,059 
Fair value of assets$29,068 $39,344 $36,534 
Schedule of medical and life insurance benefit plans
The status of the U.S. postretirement medical and life insurance benefit plan is as follows (in thousands):
202220212020
Change in benefit obligation:
Benefit obligation at beginning of year$1,890 $7,705 $6,930 
Service cost36 65 73 
Interest cost49 141 240 
   Plan amendments— (5,585)— 
Benefits paid(95)(206)(329)
Actuarial (gain) loss(366)(230)791 
Benefit obligation at end of year$1,514 $1,890 $7,705 
Weighted average assumptions: benefit obligations
Discount rate4.77 %2.69 %2.73 %
Rate of compensation increasen/an/a2.64 %
Change in plan assets
Employer contributions95 206 329 
Benefits paid, net of employee contributions(95)(206)(329)
Fair value of plan assets at end of year— — — 
Amounts recognized in balance sheet
Current postretirement benefit obligation$(108)$(107)$(358)
Non-current postretirement benefit obligation(1,406)(1,783)(7,347)
Net amount recognized in balance sheet$(1,514)$(1,890)$(7,705)
Weighted average assumptions – net periodic benefit cost
Discount rate2.69 %2.73 %3.56 %
Rate of compensation increasen/an/a2.64 %
Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive loss
Prior service credit$5,424 $6,898 $2,240 
Accumulated gain (loss)(1,181)(1,736)(2,160)
Amounts not yet recognized as a component of net periodic benefit cost4,243 5,162 80 
Net periodic benefit cost in excess of accumulated contributions(5,757)(7,052)(7,785)
Net amount recognized$(1,514)$(1,890)$(7,705)
Components of net periodic benefit cost
Service cost$36 $65 $73 
Interest cost49 141 240 
Amortization of prior service credit(1,474)(927)(537)
Amortization of accumulated loss189 194 83 
Net periodic benefit $(1,200)$(527)$(141)
Estimated amounts that will be amortized from accumulated other comprehensive loss over the next year
Prior service credit$(1,474)$(1,474)$537 
Net loss189 189 (166)
$(1,285)$(1,285)$371 
Schedule of effect of one-percentage-point change in assumed health care cost trend rates A one percentage point change in assumed health care cost trend rates would have the following effects (in thousands):
1% Increase
202220212020
Effect on postretirement benefit obligation$1 $1 $1 
1% Decrease
202220212020
Effect on postretirement benefit obligation$(1)$(1)$(1)
Schedule of future pension and other benefit payments
Future pension and other benefit payments are as follows (in thousands):
Fiscal YearPensionOther
Benefits
2023$9,158 $108 
20248,295 108 
20258,353 108 
20268,462 109 
20278,807 109 
After50,754 529 
$93,829 $1,071