Note 6 - Pension and Post-retirement Benefits

9 Months Ended

Mar. 31, 2013

Pension and Other Postretirement Benefits Disclosure [Text Block]

Note 6:    Pension and Post-retirement Benefits

Net periodic benefit costs for the Company's defined benefit pension plans consist of the following (in thousands):

	Three Months Ended						Nine Months Ended
	3/31/2013			3/31/2012			3/31/2013			3/31/2012
Service cost	$	734		$	573		$	2,210		$	1,720
Interest cost		1,477			1,656			4,464			4,970
Expected return on plan assets		(1,490	)		(1,654	)		(4,497	)		(4,962	)
Amortization of prior service cost		59			59			176			176
Amortization of net gain		-			(1	)		-			(3	)
	$	780		$	633		$	2,353		$	1,901

Net periodic benefit costs for the Company's postretirement medical plan and life insurance consists of the following (in thousands):

	Three Months Ended						Nine Months Ended
	3/31/2013			3/31/2012			3/31/2013			3/31/2012
Service cost	$	127		$	96		$	383		$	288
Interest cost		136			155			409			467
Amortization of prior service credit		(185	)		(226	)		(557	)		(679	)
Amortization of accumulated loss		40			4			119			14
	$	118		$	29		$	354		$	90

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 obligation in net periodic (benefit) cost as of the plan measurement date, which is the same as the fiscal year end of the Company. Net actuarial gains or losses that are less than 10% of the thresholds noted above are accounted for as part of the accumulated other comprehensive income (loss).