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Employee Benefit Plans
 12 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plans
Note 11. Employee Benefit Plans
The Company provides the following benefit plan for full-time employees who work 30 hours or more per week:
•401(k);
•health and other welfare benefit plans; and
•in certain circumstances, pension benefits.
See below for detail description of each benefit plan. Generally, the plans provide health benefits after 30 days of employment and other retirement benefits based on years of service and/or a combination of years of service and earnings.
Single Employer Pension Plans
As of June 30, 2025, the Company has one defined benefit pension plan for certain employees (the "Farmer Bros. Plan"). In the third quarter of fiscal 2025, we completed a full settlement of the defined benefit plan (the “Hourly Employees' Plan”) through the purchase of nonparticipating annuities and lump sum elections. In the fourth quarter of fiscal 2025, we completed a
partial settlement of the defined benefit plan (the "Farmer Bros. Plan") through the purchase of nonparticipating annuities and lump sum elections.
 Farmer Bros. Plan
As of June 30,		Hourly Employees’ Plan
As of June 30,		Total
($ in thousands)202520242025202420252024
Change in projected benefit obligation
Benefit obligation at the beginning of the year$91,383 $95,406 $3,483 $3,801 $94,866 $99,207 
Interest cost4,684 4,631 180 186 4,864 4,817 
Actuarial gain(2,069)(2,119)159 (310)(1,910)(2,429)
Benefits paid(6,671)(6,535)(144)(194)(6,815)(6,729)
Other (settlement)(36,808)— (3,678)— (40,486)— 
Projected benefit obligation at the end of the year$50,519 $91,383 $— $3,483 $50,519 $94,866 
Change in plan assets
Fair value of plan assets at the beginning of the year$79,274 $75,934 $3,661 $3,690 $82,935 $79,624 
Actual return on plan assets4,887 7,543 (9)165 4,878 7,708 
Employer contributions2,694 2,332 170 — 2,864 2,332 
Benefits paid(6,671)(6,535)(144)(194)(6,815)(6,729)
Other (settlement)(36,808)— (3,678)— (40,486)— 
Fair value of plan assets at the end of the year$43,376 $79,274 $— $3,661 $43,376 $82,935 
Funded status at end of year (underfunded)$(7,143)$(12,109)$— $178 $(7,143)$(11,931)
Amounts recognized in consolidated balance sheets
Non-current assets— — — 178 — 178 
Noncurrent liabilities(7,143)(12,109)— — (7,143)(12,109)
Total$(7,143)$(12,109)$— $178 $(7,143)$(11,931)
Amounts recognized in AOCI
Net loss11,152 22,291 — (185)11,152 22,106 
Total accumulated OCI (not adjusted for applicable tax)$11,152 $22,291 $— $(185)$11,152 $22,106 
Weighted average assumptions used to determine benefit obligations
Discount rate5.45 %5.35 %— %5.35 %5.45 %5.35 %
Rate of compensation increaseN/AN/AN/AN/AN/AN/A
 Components of Net Periodic Benefit Cost and
Other Changes Recognized in Other Comprehensive Income (Loss) (OCI) 
 Farmer Bros. Plan
June 30,		Hourly Employees’ Plan June 30,Total
($ in thousands)202520242025202420252024
Components of net periodic benefit cost
Interest cost4,684 4,631 180 186 4,864 4,817 
Expected return on plan assets(4,537)(4,336)(107)(152)(4,644)(4,488)
Amortization of net loss596 827 — — 596 827 
Pension settlement charge8,125 — 89 — 8,214 — 
Net periodic benefit cost$8,868 $1,122 $162 $34 $9,030 $1,156 
Other changes recognized in OCI
Net gain (1)$(2,419)$(5,326)$274 $(322)$(2,145)$(5,648)
Amortization of net loss(595)(827)— — (595)(827)
Amount recognized due to settlement(8,125)— (89)— (8,214)— 
Total recognized in other comprehensive income (loss)$(11,139)$(6,153)$185 $(322)$(10,954)$(6,475)
Total recognized in net periodic benefit cost and OCI$(2,271)$(5,031)$347 $(288)$(1,924)$(5,319)
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate5.35 %5.05 %5.35 %5.05 %5.35 %5.05 %
Expected long-term return on plan assets7.00 %7.00 %4.25 %5.50 %7.00 %6.25 %
Rate of compensation increaseN/AN/AN/AN/AN/AN/A
(1) Net gain for fiscal year ended June 30, 2025 and 2024 was primarily due to plan assets returns.
Basis Used to Determine Expected Long-term Return on Plan Assets
The expected long-term return on plan assets assumption was developed as a weighted average rate based on the target asset allocation of the plan and the Long-Term Capital Market Assumptions (CMA) for the corresponding fiscal year end. The capital market assumptions were developed with a primary focus on forward-looking valuation models and market indicators. The key fundamental economic inputs for these models are future inflation, economic growth, and interest rate environment.
Due to the long-term nature of the pension obligations, the investment horizon for the CMA 2020 is 20 to 30 years. In addition to forward-looking models, historical analysis of market data and trends was reflected, as well as the outlook of recognized economists, organizations and consensus CMA from other credible studies.
Description of Investment Policy
The Company’s investment strategy is to build an efficient, well-diversified portfolio based on a long-term, strategic outlook of the investment markets. The investment markets outlook utilizes both the historical-based and forward-looking return forecasts to establish future return expectations for various asset classes. These return expectations are used to develop a core asset allocation based on the specific needs of each plan. The core asset allocation utilizes investment portfolios of various asset classes and multiple investment managers in order to maximize the plan’s return while providing multiple layers of diversification to help minimize risk.
Additional Disclosures
 Farmer Bros. Plan
June 30,		Hourly Employees’ Plan
June 30,		Total
($ in thousands)202520242025202420252024
Comparison of obligations to plan assets
Projected benefit obligation$50,519 $91,383 $— $3,483 $50,519 $94,866 
Accumulated benefit obligation50,519 91,383 — 3,483 50,519 94,866 
Fair value of plan assets at measurement date43,376 79,274 — 3,661 43,376 82,935 
Plan assets by category
Equity securities28,295 37,849 — — 28,29537,849 
Debt securities15,081 37,504 — 3,661 15,08141,165 
Real estate— 3,921 — — —3,921 
Total$43,376 $79,274 $— $3,661 $43,376 $82,935 
Plan assets by category
Equity securities65.2 %47.7 %— %— %65.2 %45.6 %
Debt securities34.8 %47.3 %— %100.0 %34.9 %49.7 %
Real estate— %5.0 %— %— %— %4.7 %
Total100 %100 %— %100 %100 %100 %
Fair values of plan assets were as follows:
As of June 30, 2025
(In thousands)TotalLevel 1Level 2Level 3Investments measured at NAV
Farmer Bros. Plan$43,376 $— $— $— $43,376 
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 
The following is the target asset allocation for the Company's single employer pension plan— Farmer Bros. Plan—for fiscal 2026:
 Fiscal 2026
U.S. large cap equity securities36.0 %
U.S. small cap equity securities4.0 %
International equity securities25.0 %
Debt securities35.0 %
Total100.0 %
Estimated Amounts in OCI Expected To Be Recognized
In fiscal 2026, the Company expects to recognize net periodic cost of $0.7 million for the Farmer Bros. Plan.
Estimated Future Contributions and Refunds
In fiscal 2026, the Company expects to contribute $2.7 million to the Farmer Bros. Plan.
Estimated Future Benefit Payments
The following benefit payments are expected to be paid over the next 10 fiscal years:
(In thousands)Farmer Bros. Plan
Year Ending:
June 30, 2026$3,460 
June 30, 20273,250 
June 30, 20283,400 
June 30, 20293,510 
June 30, 20303,690 
June 30, 2031 to June 30, 2035
18,720 
These amounts are based on current data and assumptions and reflect expected future service, as appropriate.
Multiemployer Pension Plans
The Company participates in one multiemployer defined benefit pension plan that is union sponsored and collectively bargained for the benefit of certain employees subject to collective bargaining agreements, called the Western Conference of Teamsters Pension Plan ("WCTPP"). The Company makes contributions to this plan generally based on the number of hours worked by the participants in accordance with the provisions of negotiated labor contracts.
Pension Protection Act Zone Status
Pension FundEIN-PN
As of 1/1/2025
Western Conference of Teamsters Pension Plan91-6145047-001Green
The Company also contributes to two defined contribution pension plans ("All Other Plans") that are union sponsored and collectively bargained for the benefit of certain employees subject to collective bargaining agreements. The Company’s minimum contributions to these plans are defined within the collective bargaining agreements.
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, 2025$1,347 $41 
June 30, 20241,248 35 
____________
(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.

The risks of participating in multiemployer pension plans are different from single-employer plans in that: (i) assets contributed to a multiemployer plan by one employer may be used to provide benefits to employees of other participating employers; (ii) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers; and (iii) if the Company stops participating in the multiemployer plan, the Company may be required to pay the plan an amount based on the underfunded status of the plan, referred to as a withdrawal liability.
Future collective bargaining negotiations may result in the Company withdrawing from the remaining multiemployer pension plans in which it participates and, if successful, the Company may incur a withdrawal liability, the amount of which could be material to the Company's results of operations and cash flows.
Multiemployer Plans Other Than Pension Plans
The Company participates in nine multiemployer defined contribution plans other than pension plans that provide medical, vision, dental and disability benefits for active, union-represented employees subject to collective bargaining agreements. The plans are subject to the provisions of the Employee Retirement Income Security Act of 1974, and provide that participating employers make monthly contributions to the plans in an amount as specified in the collective bargaining agreements. Also, the plans provide that participants make self-payments to the plans, the amounts of which are negotiated through the collective bargaining process. The Company's participation in these plans is governed by collective bargaining agreements which expires on or before January 31, 2028. The Company's aggregate contributions to multiemployer plans other than pension plans in the fiscal years ended June 30, 2025 and 2024 were $3.9 million, respectively. The Company expects to contribute an aggregate of approximately $3.9 million towards multiemployer plans other than pension plans in fiscal 2026.
401(k) Plan
The Farmer Bros. Co. 401(k) Plan (the "401(k) Plan") is available to all eligible employees. The 401(k) Plan match portion, to the extent a match is approved by the Company's Board of Directors, is available to all eligible employees who have worked more than 1,000 hours during a calendar year and were employed at the end of the calendar year. Participants in the 401(k) Plan may choose to contribute a percentage of their annual pay subject to the maximum contribution allowed by the Internal Revenue Service. The Company's matching contribution is discretionary, based on approval by the Company's Board of Directors.
Effective January 1, 2024, the Company amended the 401(k) matching program, whereby the Company on an annual basis will contribute cash for 100% of the first 3% each eligible employee contributes plus 50% on the next 2% they contribute.
Effective August 1, 2024, the Company suspended the 401(k) matching program. The Company recorded matching contributions of $0.3 million and $1.3 million in operating expenses for the fiscal years ended June 30, 2025 and 2024, respectively.
There were no shares contributed during the fiscal year ended June 30, 2025. For the fiscal year ended June 30, 2024 the Company contributed a total of 595,031 shares of the Company’s common stock with a value of $1.9 million to eligible participants’ annual plan compensation.
Postretirement Benefits
We completed a full settlement of the Death Benefit plan in the fourth quarter of fiscal 2025, resulting in a pension settlement gain of $399k and tax income of $312k. In prior year, as of June 30, 2024, the projected postretirement benefit obligation and unfunded status of the plan was $859k. There is no liability as of June 30, 2025.