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Pension and Post-retirement Benefits
 9 Months Ended
Mar. 31, 2024
Retirement Benefits [Abstract]  
Pension and Post-retirement Benefits Pension and Post-retirement Benefits
The Company has two defined benefit pension plans, one for U.S. employees which was frozen for new participants in 2016 and another for U.K. employees frozen for new participants in 2009. The Company has a postretirement medical insurance benefit plan for U.S. employees which remains open. The Company also has defined contribution plans.
Net periodic benefit costs for the Company's defined benefit pension plans are located in Other (expense), net in Condensed Consolidated Statements of Operations except (in the table below) for service cost. Service cost are in cost of sales and selling, general and administrative expenses, allocated on headcount. Net periodic benefit costs consist of the following (in thousands):
Three Months EndedNine Months Ended
03/31/202403/31/202303/31/202403/31/2023
Interest cost$1,537 $1,464 $4,591 $4,354 
Expected return on plan assets(1,084)(1,015)(3,231)(3,007)
Amortization of net loss10 10 30 30 
Expected net cost (benefit) total$463 $459 $1,390 $1,377 
Net periodic benefit costs for the Company's Postretirement Medical Plan consists of the following (in thousands):
Three Months EndedNine Months Ended
03/31/202403/31/202303/31/202403/31/2023
Service cost$5 $6 $14 $17 
Interest cost17 18 52 53 
Amortization of prior service credit(369)(369)(1,106)(1,106)
Amortization of net loss30 44 92 133 
Total net (benefit)$(317)$(301)$(948)$(903)
For the three months and nine months ended March 31, 2024, the Company contributed in the U.S. $1.1 million and $2.4 million. In the UK pension plans the Company contributed $0.2 million and $0.7 million for the same periods.
The Company’s pension plans use fair value as the market-related value of plan assets and recognize net actuarial gains or losses in excess of ten percent (10%) of the greater of the market-related value of plan assets or of the plans’ projected benefit.