Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2020

Schedule Of Construction In Progress In Accounts Payable

Purchases of property, plant and equipment included in Accounts Payable and excluded from the property additions and the change in accounts payable in the Consolidated Statements of Cash Flows at June 30 were as follows:



	2020		2019		2018
Construction in progress in Accounts Payable	$	2,909	$	7,852	$	2,070

Schedule Of Depreciation Expense

The following table sets forth depreciation expense, including finance lease amortization, in each of the years ended June 30:



	2020		2019		2018
Depreciation expense	$	31,604	$	26,751	$	22,168

Schedule Of Advertising Expense As A Percentage Of Net Sales

The following table summarizes advertising expense as a percentage of net sales in each of the years ended June 30:



	2020		2019		2018
Advertising expense as a percentage of net sales	2	%	2	%	2	%

Schedule Of Basic And Diluted Net Income Per Common Share Calculations

Basic and diluted net income per common share were calculated as follows:



	2020			2019			2018
Net income	$	136,983		$	150,549		$	135,314
Net income available to participating securities	(278		)	(259		)	(271		)
Net income available to common shareholders	$	136,705		$	150,290		$	135,043

Weighted average common shares outstanding - basic	27,448			27,438			27,403
Incremental share effect from:
Nonparticipating restricted stock	2			2			3
Stock-settled stock appreciation rights	46			97			53
Weighted average common shares outstanding - diluted	27,496			27,537			27,459

Net income per common share - basic	$	4.98		$	5.48		$	4.93
Net income per common share - diluted	$	4.97		$	5.46		$	4.92

Schedule Of Amounts Reclassified Out Of Accumulated Other Comprehensive Loss

The following table presents the amounts reclassified out of accumulated other comprehensive loss by component:



	2020			2019
Accumulated other comprehensive loss at beginning of year	$	(10,308	)	$	(8,259	)
Defined Benefit Pension Plan Items:
Net loss arising during the period	(2,597		)	(2,771		)
Amortization of unrecognized net loss ⁽¹⁾	572			447
Postretirement Benefit Plan Items: ⁽²⁾
Net loss arising during the period	(65		)	(131		)
Amortization of unrecognized net gain	(26		)	(37		)
Amortization of prior service credit	(182		)	(182		)
Total other comprehensive loss, before tax	(2,298		)	(2,674		)
Total tax benefit	536			625
Other comprehensive loss, net of tax	(1,762		)	(2,049		)
Accumulated other comprehensive loss at end of year	$	(12,070	)	$	(10,308	)


(1)	Included in the computation of net periodic benefit income/cost. See Note 12 for additional information.

(2)

Additional disclosures for postretirement benefits are not included as they are not considered material.