Long-Term Debt

12 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Long-term Debt [Text Block]

NOTE 11 — LONG-TERM DEBT

Long-term debt consisted of the following at June 30:

(in thousands)	2024		2023
2.800% Senior Unsecured Notes due fiscal 2031, net of discount of $0.1 million for 2024 and $0.1 million for 2023	$	299,878	$	299,860
4.625% Senior Unsecured Notes due fiscal 2028, net of discount of $0.9 million for 2024 and $1.1 million for 2023	299,139		298,920
Total term debt	599,017		598,780
Less unamortized debt issuance costs	(3,037)		(3,608)
Total long-term debt	$	595,980	$	595,172

In February 2021, we issued $300.0 million of 2.800 percent Senior Unsecured Notes with a maturity date of March 1, 2031. Interest is paid semi-annually on March 1 and September 1 of each year. On June 7, 2018, we issued $300.0 million of 4.625 percent Senior Unsecured Notes with a maturity date of June 15, 2028. Interest on these notes is paid semi-annually on June 15 and December 15 of each year.

Future principal maturities of long-term debt are $300.0 million in 2028 and $300.0 million in 2031.

Fixed rate debt had a fair market value of $545.9 million and $527.4 million at June 30, 2024 and 2023, respectively. The Level 2 fair value is determined based on the quoted market prices for similar debt instruments as of June 30, 2024 and 2023, respectively.