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Defined Benefit Pension Obligation (Tables)

12 Months Ended

Jun. 30, 2021

Defined Benefit Pension Obligation Disclosure [Abstract]

The following table presents the funded status of the defined benefit pension plan (in thousands):

	June 30,
	2021			2020
Change in benefit obligation:
Benefit obligation—beginning of fiscal year	$	18,426		$	17,577
Service cost		1,766			2,003
Interest cost		38			62
Plan participants’ contributions		1,676			2,886
Plan amendment		25			975
Actuarial (gain)/loss		(807	)		(615	)
Foreign currency changes		281			545
Benefit and expense payments		(2,700	)		(5,007	)
Benefit obligation—end of fiscal year	$	18,705		$	18,426
Change in plan assets:
Plan assets—beginning of fiscal year	$	13,958		$	14,228
Employer contributions		1,117			1,327
Actual return on plan assets		199			112
Plan participants’ contributions		1,676			2,885
Foreign currency changes		169			413
Benefit and expense payments		(2,700	)		(5,007	)
Plan assets—end of fiscal year	$	14,419		$	13,958
Funded status	$	(4,286	)	$	(4,468	)
Amounts recognized within the consolidated balance sheets:
Assets	$	—		$	—
Long-term other liabilities		(4,286	)		(4,468	)
Net amount recognized	$	(4,286	)	$	(4,468	)

Schedule of amounts recognized in accumulated other comprehensive loss (before tax)

The following table presents the amounts recognized in accumulated other comprehensive loss (before tax) for the defined benefit pension plan (in thousands):

	June 30,
	2021			2020
Net loss	$	(1,236	)	$	(1,000	)
Total recognized in other comprehensive income (loss)		872			(236	)
Accumulated other comprehensive loss	$	(364	)	$	(1,236	)

Schedule of projected benefit obligations, accumulated benefit obligation and fair value of plan assets where accumulated benefit obligation exceeded fair value of plan assets

The following table presents the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for this defined benefit pension plan where accumulated benefit obligation exceeded the fair value of plan assets (in thousands):

	June 30,
	2021		2020
Projected benefit obligation	$	18,705	$	18,426
Accumulated benefit obligation	$	16,891	$	16,175
Fair value of plan assets	$	14,419	$	13,958

Schedule Of Net Benefit Costs And Other Amounts Recognized In Other Comprehensive Income Loss Table Text Block

The following table shows the components of the Company’s net periodic benefit costs and the other amounts recognized in other comprehensive loss, before tax, related to the Company’s defined benefit pension plan (in thousands):

	Year ended June 30,
	2021			2020			2019
Net Periodic Benefit Costs:
Service cost	$	1,766		$	2,003		$	1,865
Interest cost		38			62			128
Expected returns on assets		(142	)		(151	)		(170	)
Amortization of prior service cost		54			(2	)		(55	)
Amortization of net loss		—			—			—
Settlement charges		—			178			—
Net periodic benefit costs		1,716			2,090			1,768
Other Amounts Recognized in Other Comprehensive Loss:
Net (gain) loss arising during the year		(850	)		(593	)		801
Prior service cost		(54	)		2			—
Amortization of prior service cost		24			1,005			55
Amortization of net gain		—			—			—
Effect of settlement		8			(178	)		—
Total recognized in other comprehensive (gain) loss		(872	)		236			856
Total recognized in net periodic benefit costs and other comprehensive loss	$	844		$	2,326		$	2,624

Schedule of amounts in accumulated other comprehensive loss that are expected to be recognized

The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during fiscal year 2021 related to the Company’s defined benefit pension plan are as follows (in thousands):

	2022
Net loss	$	(188	)
Prior service credit		479
Accumulated other comprehensive loss	$	291

Schedule of assumptions used to determine net periodic benefit cost and benefit obligation

The assumptions used to determine net periodic benefit cost and to compute the expected long‑term return on assets for the Company’s defined benefit pension plan were as follows:

	Fiscal Years
	2021			2020			2019
Net Periodic Benefit Costs:
Discount rate		0.40	%		0.25	%		0.45	%
Rate of compensation increase		1.50	%		1.50	%		1.50	%
Expected long-term return on assets		1.00	%		1.00	%		1.20	%

The assumptions used to measure the benefit obligation for the Company’s defined benefit pension plan were as follows:

	June 30,
	2021			2020
Benefit Obligation:
Discount rate		0.40	%		0.25	%
Rate of compensation increase		1.50	%		1.50	%

Schedule of estimated future benefit payments

Estimated future benefit payments expected to be paid by the defined benefit pension plan at June 30, 2021 are as follows (in thousands):

Year Ending June 30,	Future Benefits
2022	$	891
2023		891
2024		889
2025		1,062
2026		903
Thereafter		6,280
Total	$	10,916