EMPLOYEE BENEFIT PLANS

3 Months Ended

Sep. 30, 2024

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

In the second quarter of fiscal year 2024, the Company settled plan benefits of its domestic qualified pension plan (the Plan) and recorded a one-time noncash charge, net of curtailment gain, of $171 before taxes ($130 after tax) in the Company’s condensed consolidated statement of earnings and comprehensive income.

The Company continues to maintain various other retirement income plans for eligible domestic and international employees.

The following table summarizes the components of net periodic benefit cost for the Company’s remaining retirement income plans:

	Three months ended
	9/30/2024		9/30/2023
Interest cost	$	1	$	5
Expected return on plan assets (1)	—		(3)
Amortization of unrecognized items	—		2
Settlement loss	—		1
Total	$	1	$	5

(1)The weighted average long-term expected rate of return on plan assets used in computing the fiscal year 2025 net periodic benefit cost is 5.8%.

The net periodic benefit cost (credit) for the Company’s retirement health care plans was $0 for both the three months ended September 30, 2024 and 2023.

During both the three months ended September 30, 2024 and 2023, the Company made $2 in contributions to its domestic retirement income plans.

Service cost component of the net periodic benefit cost, if any, is reflected in employee benefit costs. All other components are reflected in Other (income) expense, net.