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Employee Benefit Plans (Tables)
12 Months Ended
Jun. 30, 2024
Retirement Benefits [Abstract]  
Obligations and Funded Status of Pension Plan
As of June 30, 2024, the Company has two defined benefit pension plans for certain employees (the "Farmer Bros. Plan" and the “Hourly Employees' Plan”).
 Farmer Bros. Plan
As of June 30,
Hourly Employees’ Plan
As of June 30,
Total
($ in thousands)202420232024202320242023
Change in projected benefit obligation
Benefit obligation at the beginning of the year$95,406 $102,508 $3,801 $3,951 $99,207 $106,459 
Interest cost4,631 4,451 186 173 4,817 4,624 
Actuarial gain(2,119)(5,008)(310)(132)(2,429)(5,140)
Benefits paid(6,535)(6,545)(194)(191)(6,729)(6,736)
Projected benefit obligation at the end of the year$91,383 $95,406 $3,483 $3,801 $94,866 $99,207 
Change in plan assets
Fair value of plan assets at the beginning of the year$75,934 $74,250 $3,690 $3,848 $79,624 $78,098 
Actual return on plan assets7,543 6,147 165 33 7,708 6,180 
Employer contributions2,332 2,082 — — 2,332 2,082 
Benefits paid(6,535)(6,545)(194)(191)(6,729)(6,736)
Fair value of plan assets at the end of the year$79,274 $75,934 $3,661 $3,690 $82,935 $79,624 
Funded status at end of year (underfunded)$(12,109)$(19,472)$178 $(111)$(11,931)$(19,583)
Amounts recognized in consolidated balance sheets
Non-current assets— — 178 — 178 — 
Noncurrent liabilities(12,109)(19,472)— (111)(12,109)(19,583)
Total$(12,109)$(19,472)$178 $(111)$(11,931)$(19,583)
Amounts recognized in AOCI
Net loss22,291 28,444 (185)137 22,106 28,581 
Total accumulated OCI (not adjusted for applicable tax)$22,291 $28,444 $(185)$137 $22,106 $28,581 
Weighted average assumptions used to determine benefit obligations
Discount rate5.35 %5.05 %5.35 %5.05 %5.35 %5.05 %
Rate of compensation increaseN/AN/AN/AN/AN/AN/A
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) Components of Net Periodic Benefit Cost and
Other Changes Recognized in Other Comprehensive Income (Loss) (OCI) 
 Farmer Bros. Plan
June 30,
Hourly Employees’ Plan June 30,Total
($ in thousands)202420232022202420232022202420232022
Components of net periodic benefit cost
Interest cost4,631 4,451 3,262 186 173 129 4,817 4,624 3,391 
Expected return on plan assets(4,336)(3,906)(4,734)(152)(129)(214)(4,488)(4,035)(4,948)
Amortization of net loss827 1,125 1,356 — — — 827 1,125 1,356 
Net periodic benefit cost$1,122 $1,670 $(116)$34 $44 $(85)$1,156 $1,714 $(201)
Other changes recognized in OCI
Net gain (1)$(5,326)$(7,249)$(7,542)$(322)$(36)$(279)$(5,648)$(7,285)$(7,821)
Amortization of net loss(827)(1,125)(1,356)— — — (827)(1,125)(1,356)
Total recognized in other comprehensive income (loss)$(6,153)$(8,374)$(8,898)$(322)$(36)$(279)$(6,475)$(8,410)$(9,177)
Total recognized in net periodic benefit cost and OCI$(5,031)$(6,704)$(9,014)$(288)$$(364)$(5,319)$(6,696)$(9,378)
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate5.05 %4.50 %2.60 %5.05 %4.50 %2.60 %5.05 %4.50 %2.60 %
Expected long-term return on plan assets7.00 %6.50 %6.25 %5.50 %4.75 %6.50 %6.25 %5.63 %6.38 %
Rate of compensation increaseN/AN/AN/AN/AN/AN/AN/AN/AN/A
(1) Net gain for fiscal year ended June 30, 2024, 2023 and 2022 was primarily due to plan assets returns.
The following tables provide a reconciliation of the benefit obligation and plan assets for the Retiree Medical Plan, Death Benefit Plan and Executive Death Benefit Plan:
 As of June 30,
(In thousands)20242023
Change in Benefit Obligation:
Projected postretirement benefit obligation at beginning of year$826 $844 
Service cost— — 
Interest cost42 39 
Actuarial (gains) losses(9)(57)
Benefits paid— — 
Projected postretirement benefit obligation at end of year$859 $826 
 Year Ended June 30,
(In thousands)20242023
Change in Plan Assets:
Fair value of plan assets at beginning of year$— $— 
Employer contributions— — 
Benefits paid— — 
Fair value of plan assets at end of year$— $— 
Projected postretirement benefit obligation at end of year859 826 
Funded status of plan$(859)$(826)
 June 30,
(In thousands)20242023
Amounts Recognized in the Consolidated Balance Sheets Consist of:
Current liabilities$(69)$(61)
Noncurrent liabilities(790)(765)
Total$(859)$(826)
Schedule of Allocation of Plan Assets
Additional Disclosures
 Farmer Bros. Plan
June 30,
Hourly Employees’ Plan
June 30,
Total
($ in thousands)202420232024202320242023
Comparison of obligations to plan assets
Projected benefit obligation$91,383 $95,406 $3,483 $3,801 $94,866 $99,207 
Accumulated benefit obligation91,383 95,406 3,483 3,801 94,866 99,207 
Fair value of plan assets at measurement date79,274 75,934 3,661 3,690 82,935 79,624 
Plan assets by category
Equity securities37,849 49,516 — 750 37,84950,266 
Debt securities37,504 20,765 3,661 2,940 41,16523,705 
Real estate3,921 5,653 — — 3,9215,653 
Total$79,274 $75,934 $3,661 $3,690 $82,935 $79,624 
Plan assets by category
Equity securities47.7 %65.2 %— %20.3 %45.6 %63.1 %
Debt securities47.3 %27.3 %100.0 %79.7 %49.7 %29.8 %
Real estate5.0 %7.5 %— %— %4.7 %7.1 %
Total100 %100 %100 %100 %100 %100 %
Fair values of plan assets were as follows:
As of June 30, 2024
(In thousands)TotalLevel 1Level 2Level 3Investments measured at NAV
Farmer Bros. Plan$79,274 $— $— $— $79,274 
Hourly Employees’ Plan3,661 — — — 3,661 
As of June 30, 2023
(In thousands)TotalLevel 1Level 2Level 3Investments measured at NAV
Farmer Bros. Plan$75,934 $— $— $— $75,934 
Hourly Employees’ Plan3,690 — — — 3,690 
The Company's single employer pension plan—Hourly Employees' Plan target asset allocation remains in debt securities for fiscal 2025.The following is the target asset allocation for the Company's single employer pension plan— Farmer Bros. Plan—for fiscal 2025:
 Fiscal 2025
U.S. large cap equity securities28.0 %
U.S. small cap equity securities10.0 %
International equity securities22.0 %
Debt securities35.0 %
Real Asset5.0 %
Total100.0 %
Schedule of Expected Benefit Payments
The following benefit payments are expected to be paid over the next 10 fiscal years:
(In thousands)Farmer Bros. PlanHourly Employees’ Plan
Year Ending:
June 30, 2025$7,640 $260 
June 30, 20267,210 240 
June 30, 20277,300 260 
June 30, 20287,310 260 
June 30, 20297,270 260 
June 30, 2030 to June 30, 2034
34,670 1,270 
(In thousands)
Estimated Future Benefit Payments: 
Year Ending:
June 30, 2025$71 
June 30, 202673 
June 30, 202774 
June 30, 202875 
June 30, 202975 
June 30, 2030 to June 30, 2034
351 
Expected Contributions:
June 30, 2025$71 
Schedule of Multiemployer Plans
Contributions made by the Company to the multiemployer pension plans were as follows:
(In thousands)WCTPP(1)(2)(3)All Other Plans
Year Ended:
June 30, 2024$1,248 $35 
June 30, 20231,280 28 
June 30, 2022961 29 
____________
(1)Individually significant plan.
(2)Less than 5% of total contribution to WCTPP based on WCTPP's FASB Disclosure Statement
(3)The Company guarantees that one hundred seventy-three (173) hours will be contributed upon for all employees who are compensated for all available straight time hours for each calendar month. An additional 6.5% of the basic contribution must be paid for PEER or the Program for Enhanced Early Retirement.
Schedule of Net Benefit Costs
The following table shows the components of net periodic postretirement benefit cost for the Retiree Medical Plan and Executive Death Benefit Plan for the fiscal years ended June 30, 2024, 2023 and 2022. Net periodic postretirement benefit cost for fiscal 2024 was based on employee census information as of June 30, 2024. 
Year Ended June 30,
(In thousands)202420232022
Components of Net Periodic Postretirement Benefit Cost (Credit):
Service cost$— $— $— 
Interest cost42 39 27 
Amortization of net gain— — 11 
Net periodic postretirement benefit (credit) cost$42 $39 $38 
Executive Death Benefit Plan
The tables below show the remaining bases for the transition (asset) obligation, prior service cost (credit), and the calculation of the amortizable gain or loss for the Executive Death Benefit Plan. 
Year Ended June 30,
($ in thousands)20242023
Amortization of Net (Gain) Loss:
Net loss as of July 1$$17 
Net loss subject to amortization17 
Corridor (10% of greater of APBO or assets)86 83 
Net loss in excess of corridor$— $— 
Amortization years14.715.3