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Pension and Postretirement Benefit Plans (Tables)
12 Months Ended
Jun. 30, 2011
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Schedule of Net Funded Status [Table Text Block]
The following tables present changes in, and components of, the Company's net assets/liabilities for pension and other postretirement benefits:


 
Pension
Postretirement
June 30,
2011


 
2010


 
 
2011


 
2010


(In thousands)
 
 
 
 
 
 
 
 
Change in benefit obligation
 
 
 
 
 
 
 
 
Benefit obligation, beginning of year
$
116,949


 
$
104,009


 
 
$
15,934


 
$
14,819


Service cost
9,647


 
8,568


 
 
476


 
422


Interest cost
5,297


 
5,777


 
 
792


 
907


Participant contributions


 


 
 
844


 
839


Plan amendments
472


 


 
 


 


Actuarial loss
1,976


 
6,543


 
 
(858
)
 
1,325


Benefits paid (including lump sums)
(8,652
)
 
(7,948
)
 
 
(1,917
)
 
(2,378
)
Benefit obligation, end of year
$
125,689


 
$
116,949


 
 
$
15,271


 
$
15,934


 
 
 
 
 
 
 
 
 
Change in plan assets
 
 
 
 
 
 
 
 
Fair value of plan assets, beginning of year
$
113,576


 
$
95,401


 
 
$


 
$


Actual return on plan assets
25,553


 
15,475


 
 


 


Employer contributions
526


 
10,648


 
 
1,073


 
1,539


Participant contributions


 


 
 
844


 
839


Benefits paid (including lump sums)
(8,652
)
 
(7,948
)
 
 
(1,917
)
 
(2,378
)
Fair value of plan assets, end of year
$
131,003


 
$
113,576


 
 
$


 
$


 
 
 
 
 
 
 
 
 
Over (under) funded status, end of year
$
5,314


 
$
(3,373
)
 
 
$
(15,271
)
 
$
(15,934
)


Pension Plan Assets Fair Value by Asset Category [Table Text Block]
Fair value measurements for pension assets as of June 30, 2011, follow:


June 30, 2011
Total
Fair Value
Quoted Prices
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs (Level 3)
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
Investments in registered investment companies
$
130,254


 
 
$
73,296


 
 
$
56,958


 
 
$


 
Pooled separate accounts
749


 
 


 
 
749


 
 


 
Total assets at fair value
$
131,003


 
 
$
73,296


 
 
$
57,707


 
 
$


 


Schedule of Amounts Recognized In Balance Sheet [Table Text Block]
The following amounts are recognized in the Consolidated Balance Sheets:


 
Pension
Postretirement
June 30,
2011


 
2010


 
 
2011


 
2010


(In thousands)
 
 
 
 
 
 
 
 
Other assets
 
 
 
 
 
 
 
 
Prepaid benefit cost
$
23,128


 
$
12,515


 
 
$


 
$


Accrued expenses-compensation and benefits
 
 
 
 
 
 
 
 
Accrued benefit liability
(892
)
 
(1,026
)
 
 
(1,060
)
 
(1,160
)
Other noncurrent liabilities
 
 
 
 
 
 
 
 
Accrued benefit liability
(16,922
)
 
(14,862
)
 
 
(14,211
)
 
(14,774
)
Net amount recognized, end of year
$
5,314


 
$
(3,373
)
 
 
$
(15,271
)
 
$
(15,934
)


Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]
The following table provides information about pension plans with projected benefit obligations in excess of plan assets:


June 30,
2011


 
2010


(In thousands)
 
 
 
Projected benefit obligation
$
17,924


 
$
15,961


Fair value of plan assets
110


 
74




Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block]


The following table provides information about pension plans with accumulated benefit obligations in excess of plan assets:


June 30,
2011


 
2010


(In thousands)
 
 
 
Accumulated benefit obligation
$
14,036


 
$
12,605


Fair value of plan assets
110


 
74




Schedule of Net Benefit Costs [Table Text Block]
The components of net periodic benefit costs recognized in the Consolidated Statements of Earnings (Loss) were as follows:


 
Pension
Postretirement
Years ended June 30,
2011


 
2010


 
2009


 
 
2011


 
2010


 
2009


(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Components of net periodic benefit costs
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
9,647


 
$
8,568


 
$
8,632


 
 
$
476


 
$
422


 
$
461


Interest cost
5,297


 
5,777


 
5,721


 
 
792


 
907


 
980


Expected return on plan assets
(8,688
)
 
(8,152
)
 
(9,324
)
 
 


 


 


Prior service cost amortization
373


 
853


 
839


 
 
(734
)
 
(736
)
 
(736
)
Actuarial loss amortization
4,665


 
4,926


 
533


 
 


 


 


Settlement charge


 
(94
)
 
93


 
 


 


 


Net periodic benefit costs
$
11,294


 
$
11,878


 
$
6,494


 
 
$
534


 
$
593


 
$
705




Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss) [Table Text Block]
Amounts recognized in the accumulated other comprehensive loss component of shareholders' equity for Company-sponsored plans were as follows:


June 30, 2011
Pension
 Postretirement
Total 
(In thousands)
 
 
 
 
 
Unrecognized net actuarial losses, net of taxes
$
16,235


 
$
439


 
$
16,674


Unrecognized prior service credit (costs), net of taxes
845


 
(1,761
)
 
(916
)
Total
$
17,080


 
$
(1,322
)
 
$
15,758




Schedule of Assumptions Used [Table Text Block]
Benefit obligations were determined using the following weighted average assumptions:


 
Pension
Postretirement
June 30,
2011


 
2010


 
 
2011


 
2010


Weighted average assumptions
 
 
 
 
 
 
 
 
Discount rate
4.65
%
 
4.50
%
 
 
5.25
%
 
5.00
%
Rate of compensation increase - year one
4.50
%
 
4.50
%
 
 
4.50
%
 
4.50
%
Rate of compensation increase - subsequent years
4.50
%
 
4.50
%
 
 
4.50
%
 
4.50
%
Rate of increase in health care cost levels


 
 
 
 
 
 
 
Initial level
NA


 
NA


 
 
8.50
%
 
9.00
%
Ultimate level
NA


 
NA


 
 
5.00
%
 
5.00
%
Years to ultimate level
NA


 
NA


 
 
7 yrs


 
8 yrs


 NA-Not applicable
 
 
 
 
 
 
 
 


Net periodic benefit costs were determined using the following weighted average assumptions:


 
Pension
Postretirement
Years ended June 30,
2011


 
2010


 
2009


 
 
2011


 
2010


 
2009


Weighted average assumptions
 
 
 
 
 
 
 
 
 
 
 
 
Discount rate
4.50
%
 
5.75
%
 
5.80
%
 
 
5.00
%
 
6.20
%
 
6.25
%
Expected return on plan assets
8.25
%
 
8.25
%
 
8.25
%
 
 
NA


 
NA


 
NA


Rate of compensation increase - year one
4.50
%
 
0.00
%
 
4.50
%
 
 
4.50
%
 
0.00
%
 
4.50
%
Rate of compensation increase - subsequent years
4.50
%
 
4.50
%
 
4.50
%
 
 
4.50
%
 
4.50
%
 
4.50
%
Rate of increase in health care cost levels
 
 
 
 
 
 
 
 


 
 


 
 
Initial level
NA


 
NA


 
NA


 
 
9.00
%
 
7.50
%
 
8.00
%
Ultimate level
NA


 
NA


 
NA


 
 
5.00
%
 
5.00
%
 
5.00
%
Years to ultimate level
NA


 
NA


 
NA


 
 
8 yrs


 
5 yrs


 
6 yrs


NA-Not applicable
 
 
 
 
 
 
 
 
 
 
 
 


Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]
Assumed rates of increase in healthcare cost have a significant effect on the amounts reported for the healthcare plans. A change of one percentage point in the assumed healthcare cost trend rates would have the following effects:


 
One
Percentage
Point Increase
 
One
Percentage
Point Decrease
(In thousands)
 
 
 
 
 
Effect on service and interest cost components for fiscal 2011
$
61


 
 
$
(50
)
 
Effect on postretirement benefit obligation as of June 30, 2011
626


 
 
(526
)
 
 
Schedule of Targeted and Weighted Average Asset Allocations by Assets Category for Investments Pension Plans [Table Text Block]
The targeted and weighted average asset allocations by asset category for investments held by the Company's pension plans are as follows:


 
2011 Allocation
 
2010 Allocation
 
June 30,
Target


 
Actual


 
Target


 
Actual


 
Domestic equity securities
35
%
 
34
%
 
45
%
 
42
%
 
Fixed income investments
30
%
 
31
%
 
30
%
 
34
%
 
International equity securities
25
%
 
25
%
 
15
%
 
14
%
 
Global equity securities
10
%
 
10
%
 
10
%
 
10
%
 
Fair value of plan assets
100
%
 
100
%
 
100
%
 
100
%
 


Schedule of Expected Benefit Payments [Table Text Block]
The following benefit payments, which reflect expected future service as appropriate, are expected to be paid:


Years ending June 30,
Pension
Benefits
Postretirement
Benefits
(In thousands)
 
 
 
 
 
 
2012
 
$
12,625


 
 
$
1,060


 
2013
 
19,101


 
 
1,069


 
2014
 
14,479


 
 
1,102


 
2015
 
13,615


 
 
1,062


 
2016
 
13,160


 
 
1,130


 
2017-2021
 
76,095


 
 
6,203