Shareholders' Equity

12 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS’ EQUITY

Treasury Shares

At June 30, 2023, 128 shares of the Company’s common stock held as treasury shares were restricted as collateral under escrow arrangements relating to change in control and director and officer indemnification agreements.

Accumulated Other Comprehensive Loss

Changes in the accumulated other comprehensive loss for the years ended June 30, 2023, 2022, and 2021, are comprised of the following amounts, shown net of taxes:

	Foreign currency translation adjustment		Post-employment benefits		Cash flow hedge		Total accumulated other comprehensive loss
Balance at July 1, 2020	$	(105,094)	$	(4,564)	$	(19,772)	$	(129,430)
Other comprehensive income	24,256		687		2,480		27,423
Amounts reclassified from accumulated other comprehensive loss	—		204		8,711		8,915
Net current-period other comprehensive income	24,256		891		11,191		36,338
Balance at June 30, 2021	(80,838)		(3,673)		(8,581)		(93,092)
Other comprehensive (loss) income	(9,900)		2,142		19,770		12,012
Amounts reclassified from accumulated other comprehensive loss	—		228		8,557		8,785
Net current-period other comprehensive (loss) income	(9,900)		2,370		28,327		20,797
Balance at June 30, 2022	(90,738)		(1,303)		19,746		(72,295)
Other comprehensive income	7,639		1,082		13,759		22,480
Amounts reclassified from accumulated other comprehensive loss	—		24		(5,505)		(5,481)
Net current-period other comprehensive income	7,639		1,106		8,254		16,999
Balance at June 30, 2023	$	(83,099)	$	(197)	$	28,000	$	(55,296)

Other Comprehensive Income

Details of other comprehensive income are as follows:

Year Ended June 30,	2023						2022						2021
	Pre-Tax Amount		Tax Expense (Benefit)		Net Amount		Pre-Tax Amount		Tax Expense		Net Amount		Pre-Tax Amount		Tax Expense		Net Amount
Foreign currency translation adjustments	$	7,723	$	84	$	7,639	$	(9,862)	$	38	$	(9,900)	$	24,352	$	96	$	24,256
Post-employment benefits:
Actuarial gain on     re-measurement	405		100		305		2,839		697		2,142		903		216		687
Reclassification of actuarial losses and prior service cost into other expense (income), net and included in net periodic pension costs	36		12		24		300		72		228		270		66		204
Termination of pension plan	1,031		254		777		—		—		—		—		—		—
Unrealized gain on cash flow hedge	18,174		4,415		13,759		26,204		6,434		19,770		3,250		770		2,480
Reclassification of interest from cash flow hedge into interest expense	(7,285)		(1,780)		(5,505)		11,361		2,804		8,557		11,553		2,842		8,711
Other comprehensive income	$	20,084	$	3,085	$	16,999	$	30,842	$	10,045	$	20,797	$	40,328	$	3,990	$	36,338

Net Income Per Share

Basic net income per share is based on the weighted-average number of common shares outstanding. Diluted net income per share includes the dilutive effect of potential common shares outstanding. Under the two-class method of computing net income per share, non-vested share-based payment awards that contain rights to receive non-forfeitable dividends are considered participating securities. The Company’s participating securities include Restricted Stock Units ("RSUs") and restricted stock awards. The Company calculated basic and diluted net income per share under both the treasury stock method and the two-class method. For the years presented there were no material differences in the net income per share amounts calculated using the two methods. Accordingly, the treasury stock method is disclosed below.

The following table presents amounts used in computing net income per share and the effect on the weighted-average number of shares of dilutive potential common shares:

Year Ended June 30,	2023		2022		2021
Net Income	$	346,739	$	257,414	$	144,757
Average Shares Outstanding:
Weighted-average common shares outstanding for basic computation	38,592		38,471		38,758
Dilutive effect of potential common shares	628		634		538
Weighted-average common shares outstanding for dilutive computation	39,220		39,105		39,296
Net Income Per Share — Basic	$	8.98	$	6.69	$	3.73
Net Income Per Share — Diluted	$	8.84	$	6.58	$	3.68

Stock awards relating to 84, 106 and 234 shares of common stock were outstanding at June 30, 2023, 2022 and 2021, respectively, but were not included in the computation of diluted earnings per share for the fiscal years then ended as they were anti-dilutive.