XML 53 R41.htm IDEA: XBRL DOCUMENT v3.25.2
Employee Benefit Plans (Tables)
 12 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
Schedule of Obligations and Funded Status of Pension Plan
 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 $22,106 
Weighted average assumptions used to determine benefit obligations
Discount rate5.45 %5.35 %— %5.35 %5.45 %5.35 %
Rate of compensation increaseN/AN/AN/AN/AN/AN/A
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) Components of Net Periodic Benefit Cost and
Other Changes Recognized in Other Comprehensive Income (Loss) (OCI) 
 Farmer Bros. Plan
June 30,		Hourly Employees’ Plan June 30,Total
($ in thousands)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)$(5,319)
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate5.35 %5.05 %5.35 %5.05 %5.35 %5.05 %
Expected long-term return on plan assets7.00 %7.00 %4.25 %5.50 %7.00 %6.25 %
Rate of compensation increaseN/AN/AN/AN/AN/AN/A
(1) Net gain for fiscal year ended June 30, 2025 and 2024 was primarily due to plan assets returns.
Schedule of Allocation of Plan Assets
Additional Disclosures
 Farmer Bros. Plan
June 30,		Hourly Employees’ Plan
June 30,		Total
($ 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 %
Schedule of Expected 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 
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, 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.