XML 43 R26.htm IDEA: XBRL DOCUMENT v3.10.0.1
Post-Retirement Benefits (Tables)
 12 Months Ended
Jun. 30, 2018
Retirement Benefits [Abstract]  
Reconciliation of Actuarial Present Value of Projected Benefit Obligations
The reconciliation of the actuarial present value of the projected benefit obligations for the defined benefit plan for the fiscal years ended June 30, 2018 and July 1, 2017 was as follows:
 
June 30, 2018
 
July 1, 2017
 
(Thousands)
Change in projected benefit obligation:
 
 
 
Projected benefit obligation, beginning of period
$
6,552

 
$
6,912

Service cost
637

 
624

Interest cost
19

 
4

Benefits paid
(85
)
 
(197
)
Actuarial (gain) loss on obligation
(57
)
 
(213
)
Currency translation adjustment
83

 
(578
)
Projected benefit obligation, end of period
$
7,149

 
$
6,552

Amounts recognized in consolidated balance sheets:
 
 
 
Accrued expenses and other liabilities:
 
 
 
Underfunded pension liability
$
264

 
$
117

Other non-current liabilities:
 
 
 
Underfunded pension liability
$
6,885

 
$
6,435

Amounts recognized in accumulated other comprehensive income, net of tax:
 
 
 
Pension actuarial loss
$
101

 
$
150

Accumulated benefit obligation, end of period
$
7,149

 
$
6,552
Net Periodic Pension Costs
Net periodic pension cost associated with the Japan Plan in fiscal years ended June 30, 2018, July 1, 2017 and July 2, 2016 include the following components:
 
June 30, 2018
 
July 1, 2017
 
July 2, 2016
 
(Thousands)
Service cost
$
637

 
$
624

 
$
560

Interest cost
19

 
4

 
48

Net periodic pension cost
$
656

 
$
628

 
$
608
Projected and Accumulated Benefit Obligations
The projected and accumulated benefit obligations for the Japan Plan were calculated as June 30, 2018 and July 1, 2017 using the following assumptions:
 
June 30, 2018
 
July 1, 2017
Discount rate
0.3
%
 
0.1
%
Salary increase rate
2.2
%
 
2.2
%
Expected average remaining working life (in years)
14.0

 
14.3