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EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Jun. 30, 2023
Retirement Benefits [Abstract]  
Schedule of Data Related to Foreign Defined Benefit Pension Plans Summary data relating to our foreign defined benefit pension plans, including key weighted-average assumptions used, is provided in the following tables:
 Year Ended June 30,
(In thousands)20232022
Change in projected benefit obligation:
Projected benefit obligation as of the beginning of the fiscal year$124,585 $134,305 
Service cost3,807 5,054 
Interest cost1,689 1,003 
Contributions by plan participants70 78 
Actuarial (gain) loss(7,686)3,029 
Benefit payments(4,837)(2,164)
Plan amendment impact191 670 
Settlements impact(931)(1,010)
Foreign currency exchange rate changes and others, net(3,752)(16,380)
Projected benefit obligation as of the end of the fiscal year$113,136 $124,585 
 Year Ended June 30,
(In thousands)20232022
Change in fair value of plan assets:
Fair value of plan assets as of the beginning of the fiscal year$43,593 $44,726 
Employer contributions8,396 6,955 
Foreign currency exchange rate changes and others, net(827)(3,831)
Settlements impact(931)(1,010)
Actual return on plan assets(1,064)(1,087)
Benefit and expense payments(3,237)(2,160)
Fair value of plan assets as of the end of the fiscal year$45,930 $43,593 
As of June 30,
(In thousands)20232022
Underfunded status$67,206 $80,992 
 As of June 30,
(In thousands)20232022
Plans with accumulated benefit obligations in excess of plan assets:
Accumulated benefit obligation$65,992 $77,697 
Projected benefit obligation$108,084 $124,585 
Plan assets at fair value$40,648 $43,593 
Schedule of Weighted-Average Assumptions Used in Determining Benefit Obligation and Net Periodic Cost
 Year Ended June 30,
 202320222021
Weighted-average assumptions(1):
Discount rate
0.9% - 3.0%
0.9% - 3.0%
0.5% - 1.7%
Expected rate of return on assets
0.9% - 2.6%
0.9% - 3.0%
0.6% - 2.9%
Rate of compensation increases
3.0% - 5.0%
2.3% - 5.0%
2.3% - 5.0%
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(1)Represents the weighted-average assumptions used to determine the benefit obligation.
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
The following table presents losses recognized in AOCI before tax related to our foreign defined benefit pension plans: 
 As of June 30,
(In thousands)20232022
Unrecognized prior service cost$10,733 $12,414 
Unrealized net loss12,932 19,400 
Amount of losses recognized $23,665 $31,814 
Schedule of Net Periodic Cost
The components of our net periodic cost relating to our foreign subsidiaries’ defined benefit pension plans are as follows: 
 Year Ended June 30,
(In thousands)202320222021
Components of net periodic pension cost:
Service cost(1)
$3,807 $5,054 $4,649 
Interest cost1,678 1,003 1,187 
Return on plan assets(426)(528)(549)
Amortization of prior service cost873 671 — 
Amortization of net loss698 1,406 1,071 
Loss due to settlement/curtailment85 38 130 
Foreign currency exchange rate changes— (19)— 
Net periodic pension cost$6,715 $7,625 $6,488 
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(1)Service cost is reported in Cost of revenues, R&D and SG&A expenses. All other components of net periodic pension cost are reported in Other expense (income), net in the Consolidated Statements of Operations.
Schedule of Foreign Plan Assets Measured at Fair Value on Recurring Basis
Foreign plan assets measured at fair value on a recurring basis consisted of the following investment categories as of June 30, 2023 and 2022, respectively:
As of June 30, 2023 (In thousands)TotalQuoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant Other
Observable Inputs
(Level 2)
Cash and cash equivalents$32,114 $32,114 $— 
Bonds, equity securities and other investments13,816 — 13,816 
Total assets measured at fair value$45,930 $32,114 $13,816 
As of June 30, 2022 (In thousands)TotalQuoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant Other
Observable Inputs
(Level 2)
Cash and cash equivalents$27,543 $27,543 $— 
Bonds, equity securities and other investments16,050 — 16,050 
Total assets measured at fair value$43,593 $27,543 $16,050