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Pension and Postretirement Benefit Plans (Tables)
 12 Months Ended
Jun. 30, 2017
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Schedule of Net Funded Status
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,
2017
 
2016
 
 
2017
 
2016
(In thousands)
 
 
 
 
 
 
 
 
Change in benefit obligation
 
 
 
 
 
 
 
 
Benefit obligation, beginning of year
$
161,892

 
$
155,427

 
 
$
9,666

 
$
9,408

Service cost
12,545

 
11,908

 
 
92

 
101

Interest cost
4,900

 
5,874

 
 
321

 
385

Participant contributions
—

 
—

 
 
787

 
748

Plan amendments
501

 
—

 
 
—

 
—

Actuarial loss (gain)
3,600

 
15,085

 
 
(205
)
 
565

Benefits paid (including lump sums)
(12,520
)
 
(26,402
)
 
 
(1,386
)
 
(1,541
)
Benefit obligation, end of year
$
170,918

 
$
161,892

 
 
$
9,275

 
$
9,666

 
 
 
 
 
 
 
 
 
Change in plan assets
 
 
 
 
 
 
 
 
Fair value of plan assets, beginning of year
$
122,583

 
$
141,586

 
 
$
—

 
$
—

Actual return on plan assets
18,527

 
1,129

 
 
—

 
—

Employer contributions
10,635

 
6,270

 
 
599

 
793

Participant contributions
—

 
—

 
 
787

 
748

Benefits paid (including lump sums)
(12,520
)
 
(26,402
)
 
 
(1,386
)
 
(1,541
)
Fair value of plan assets, end of year
$
139,225

 
$
122,583

 
 
$
—

 
$
—

 
 
 
 
 
 
 
 
 
Under funded status, end of year
$
(31,693
)
 
$
(39,309
)
 
 
$
(9,275
)
 
$
(9,666
)
Pension Plan Assets Fair Value by Asset Category
Fair value measurements for pension assets as of June 30, 2017, were as follows:

June 30, 2017
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
$
138,886

 
 
$
76,837

 
 
$
62,049

 
 
$
—

 
Pooled separate accounts
339

 
 
—

 
 
339

 
 
—

 
Total assets at fair value
$
139,225

 
 
$
76,837

 
 
$
62,388

 
 
$
—

 

Fair value measurements for pension assets as of June 30, 2016, were as follows:

June 30, 2016
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
$
120,996

 
 
$
65,376

 
 
$
55,620

 
 
$
—

 
Pooled separate accounts
1,587

 
 
—

 
 
1,587

 
 
—

 
Total assets at fair value
$
122,583

 
 
$
65,376

 
 
$
57,207

 
 
$
—

 
Schedule of Amounts Recognized In Balance Sheet
The following amounts are recognized in the Consolidated Balance Sheets:

 
Pension
Postretirement
June 30,
2017
 
2016
 
 
2017
 
2016
(In thousands)
 
 
 
 
 
 
 
 
Other assets
 
 
 
 
 
 
 
 
Prepaid benefit cost
$
16,901

 
$
1,458

 
 
$
—

 
$
—

Accrued expenses-compensation and benefits
 
 
 
 
 
 
 
 
Accrued benefit liability
(5,776
)
 
(4,703
)
 
 
(657
)
 
(656
)
Other noncurrent liabilities
 
 
 
 
 
 
 
 
Accrued benefit liability
(42,818
)
 
(36,064
)
 
 
(8,618
)
 
(9,010
)
Net amount recognized, end of year
$
(31,693
)
 
$
(39,309
)
 
 
$
(9,275
)
 
$
(9,666
)
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
The following table provides information about pension plans with projected benefit obligations and accumulated benefit obligations in excess of plan assets:

June 30,
2017
 
2016
(In thousands)
 
 
 
Projected benefit obligation
$
48,692

 
$
40,867

Accumulated benefit obligation
42,634

 
35,225

Fair value of plan assets
98

 
100
Schedule of Net Benefit Costs
The components of net periodic benefit costs recognized in the Consolidated Statements of Earnings were as follows:

 
Pension
Postretirement
Years ended June 30,
2017
 
2016
 
2015
 
 
2017
 
2016
 
2015
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Components of net periodic benefit costs
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
12,545

 
$
11,908

 
$
12,173

 
 
$
92

 
$
101

 
$
117

Interest cost
4,900

 
5,874

 
5,582

 
 
321

 
385

 
407

Expected return on plan assets
(9,191
)
 
(10,982
)
 
(11,037
)
 
 
—

 
—

 
—

Prior service cost (credit) amortization
194

 
194

 
225

 
 
(393
)
 
(428
)
 
(432
)
Actuarial loss (gain) amortization
3,587

 
628

 
667

 
 
(310
)
 
(677
)
 
(433
)
Settlement charge
—

 
5,586

 
—

 
 
—

 
—

 
—

Net periodic benefit costs (credit)
$
12,035

 
$
13,208

 
$
7,610

 
 
$
(290
)
 
$
(619
)
 
$
(341
)
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
Amounts recognized in the accumulated other comprehensive loss component of shareholders' equity for Company-sponsored plans were as follows:

 
Pension
 Postretirement
Total 
 
 
Pension
 Postretirement
Total 
June 30,
2017
 
 
2016
(In thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Unrecognized net actuarial losses (gains), net of taxes
$
18,524

 
$
(1,240
)
 
$
17,284

 
 
$
24,267

 
$
(1,305
)
 
$
22,962

Unrecognized prior service cost (credit), net of taxes
659

 
(210
)
 
449

 
 
470

 
(452
)
 
18

Total
$
19,183

 
$
(1,450
)
 
$
17,733

 
 
$
24,737

 
$
(1,757
)
 
$
22,980
Schedule of Assumptions Used
Benefit obligations were determined using the following weighted average assumptions:

 
Pension
Postretirement
June 30,
2017
 
2016
 
 
2017
 
2016
Weighted average assumptions
 
 
 
 
 
 
 
 
Discount rate
3.41
%
 
2.98
%
 
 
3.65
%
 
3.40
%
Rate of compensation increase
3.50
%
 
3.50
%
 
 
3.50
%
 
3.50
%
Rate of increase in health care cost levels
 
 
 
 
 
 
 
 
Initial level
n/a

 
n/a

 
 
7.00
%
 
7.00
%
Ultimate level
n/a

 
n/a

 
 
5.00
%
 
5.00
%
Years to ultimate level
n/a

 
n/a

 
 
4 years

 
5 years

n/a - Not applicable
 
 
 
 
 
 
 
 

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

 
Pension
Postretirement
Years ended June 30,
2017
 
2016
 
2015
 
 
2017
 
2016
 
2015
Weighted average assumptions
 
 
 
 
 
 
 
 
 
 
 
 
Discount rate
2.98
%
 
3.75
%
 
3.57
%
 
 
3.40
%
 
4.20
%
 
4.00
%
Expected return on plan assets
8.00
%
 
8.00
%
 
8.00
%
 
 
n/a

 
n/a

 
n/a

Rate of compensation increase
3.50
%
 
3.50
%
 
3.50
%
 
 
3.50
%
 
3.50
%
 
3.50
%
Rate of increase in health care cost levels
 
 
 
 
 
 
 
 
 
 
 
 
Initial level
n/a

 
n/a

 
n/a

 
 
7.00
%
 
7.00
%
 
7.00
%
Ultimate level
n/a

 
n/a

 
n/a

 
 
5.00
%
 
5.00
%
 
5.00
%
Years to ultimate level
n/a

 
n/a

 
n/a

 
 
5 years

 
6 years

 
4 years

n/a - Not applicable
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
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 2017
 
$
25

 
 
 
$
(20
)
 
Effect on postretirement benefit obligation as of June 30, 2017
 
401

 
 
 
(329
)
 
Schedule of Targeted and Weighted Average Asset Allocations by Assets Category for Investments Pension Plans
The targeted and weighted average asset allocations by asset category for investments held by the Company's pension plans are as follows:

 
2017 Allocation
 
 
2016 Allocation
June 30,
Target

 
Actual

 
 
Target

 
Actual

Domestic equity securities
35
%
 
34
%
 
 
35
%
 
30
%
Fixed income investments
30
%
 
29
%
 
 
30
%
 
32
%
International equity securities
25
%
 
27
%
 
 
25
%
 
27
%
Global equity securities
10
%
 
10
%
 
 
10
%
 
11
%
Fair value of plan assets
100
%
 
100
%
 
 
100
%
 
100
%
Schedule of Expected Benefit Payments
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)
 
 
 
 
 
 
2018
 
$
22,207

 
 
$
657

 
2019
 
24,165

 
 
699

 
2020
 
25,726

 
 
688

 
2021
 
21,562

 
 
674

 
2022
 
15,723

 
 
655

 
2023-2027
 
83,584

 
 
2,874