Shareholders' Equity

12 Months Ended

Jun. 30, 2024

Stockholders' Equity Note [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS’ EQUITY

Treasury Shares

At June 30, 2024, 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, 2024, 2023, and 2022, are composed 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, 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 (loss) income	(12,467)		(101)		4,499		(8,069)
Amounts reclassified from accumulated other comprehensive loss	—		(93)		(14,108)		(14,201)
Net current-period other comprehensive loss	(12,467)		(194)		(9,609)		(22,270)
Balance at June 30, 2024	$	(95,566)	$	(391)	$	18,391	$	(77,566)

Other Comprehensive (Loss) Income

Details of other comprehensive (loss) income are as follows:

Year Ended June 30,	2024						2023						2022
	Pre-Tax Amount		Tax (Benefit) Expense		Net Amount		Pre-Tax Amount		Tax Expense (Benefit)		Net Amount		Pre-Tax Amount		Tax Expense		Net Amount
Foreign currency translation adjustments	$	(12,544)	$	(77)	$	(12,467)	$	7,723	$	84	$	7,639	$	(9,862)	$	38	$	(9,900)
Post-employment benefits:
Actuarial (loss) gain on     re-measurement	(134)		(33)		(101)		405		100		305		2,839		697		2,142
Reclassification of actuarial losses and prior service cost into other (income) expense, net and included in net periodic pension costs	(117)		(24)		(93)		36		12		24		300		72		228
Termination of pension plan	—		—		—		1,031		254		777		—		—		—
Unrealized gain on cash flow hedge	5,958		1,459		4,499		18,174		4,415		13,759		26,204		6,434		19,770
Reclassification of interest from cash flow hedge into interest expense	(18,683)		(4,575)		(14,108)		(7,285)		(1,780)		(5,505)		11,361		2,804		8,557
Other comprehensive (loss) income	$	(25,520)	$	(3,250)	$	(22,270)	$	20,084	$	3,085	$	16,999	$	30,842	$	10,045	$	20,797

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,	2024		2023		2022
Net Income	$	385,762	$	346,739	$	257,414
Average Shares Outstanding:
Weighted-average common shares outstanding for basic computation	38,672		38,592		38,471
Dilutive effect of potential common shares	585		628		634
Weighted-average common shares outstanding for dilutive computation	39,257		39,220		39,105
Net Income Per Share — Basic	$	9.98	$	8.98	$	6.69
Net Income Per Share — Diluted	$	9.83	$	8.84	$	6.58

Stock awards relating to 99, 84 and 106 shares of common stock were outstanding at June 30, 2024, 2023 and 2022, respectively, but were not included in the computation of diluted earnings per share for the fiscal years then ended as they were anti-dilutive.