Pension and Other Postretirement Benefits

9 Months Ended

Mar. 31, 2021

Retirement Benefits [Abstract]

PENSION AND OTHER POSTRETIREMENT BENEFITS

The table below summarizes the components of net periodic pension income:

	Three Months Ended March 31,				Nine Months Ended March 31,
(in thousands)	2021		2020		2021		2020
Service cost	$	429	$	452	$	1,264	$	1,346
Interest cost	5,815		6,848		17,371		20,504
Expected return on plan assets	(13,459)		(13,539)		(40,171)		(40,491)
Amortization of transition obligation	24		23		70		67
Amortization of prior service cost	8		13		25		38
Recognition of actuarial losses	3,431		2,597		10,190		7,777
Settlement gain	—		—		—		(122)
Net periodic pension income	$	(3,752)	$	(3,606)	$	(11,251)	$	(10,881)

The table below summarizes the components of net periodic other postretirement benefit cost:

	Three Months Ended March 31,				Nine Months Ended March 31,
(in thousands)	2021		2020		2021		2020
Interest cost	$	76	$	101	$	230	$	303
Amortization of prior service credit	(69)		(69)		(207)		(207)
Recognition of actuarial loss	77		64		230		193
Net periodic other postretirement benefit cost	$	84	$	96	$	253	$	289

The service cost component of net periodic pension income is reported as a component of cost of goods sold and operating expense. All other components of net periodic pension income and net periodic other postretirement benefit cost are reported as a component of other income, net.