v3.26.3
Note 10 - Retirement Benefits
 3 Months Ended
Sep. 30, 2026
Notes to Financial Statements  
Retirement Benefits [Text Block]

10)     Retirement Benefits

 

The Company has defined benefit pension plans covering certain current and former employees both inside and outside of the U.S. The Company’s pension plan for U.S. employees is frozen for substantially all participants and has been replaced with a defined contribution benefit plan. 

 

Net periodic benefit cost for the Company’s U.S. and foreign pension benefit plans for the periods ended consisted of the following components (in thousands):

 

  

U.S. Plans

  

Non-U.S. Plans

 
  

Three Months Ended September 30,

  

Three Months Ended September 30,

 
  

2026

  

2025

  

2026

  

2025

 

Service cost

 $-  $-  $53  $58 

Interest cost

  2,231   2,288   321   315 

Expected return on plan assets

  (2,191)  (2,521)  (339)  (304)

Recognized net actuarial loss

  1,284   1,175   8   - 

Amortization of prior service cost

  -   -   (3)  (1)

Net periodic (benefit) cost

 $1,324  $942  $40  $68 

 

The following table sets forth the amounts recognized for the Company's defined benefit pension plans (in thousands):

 

Amounts recognized in the consolidated balance sheets consist of:

 

September 30, 2026

  

June 30, 2026

 

Prepaid benefit cost

 $3,350  $3,272 

Current liabilities

  (695)  (657)

Non-current liabilities

  (17,827)  (17,807)

Net amount recognized

 $(15,172) $(15,192)

 

The contributions made to defined benefit plans are presented below along with remaining contributions to be made for the current fiscal year (in thousands):

 

  

Fiscal Year 2027

 
  

Three Months Ended

     

Contributions to defined benefit plans

 

September 30, 2026

  

Remaining Contributions

 

United States, funded plan

 $85  $4,524 

United States, unfunded plan

  4   60 

Germany, unfunded plan

  70   209 
  $159  $4,793