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Retirement Benefits (Tables)
 12 Months Ended
Jun. 30, 2021
Retirement Benefits [Abstract]  
Schedule of net benefit costs A summary of the Company's defined benefit pension plans follows:
202120202019
Benefit cost
Service cost$84,188 $82,743 $76,647 
Interest cost102,475 142,479 160,542 
Expected return on plan assets(267,579)(266,674)(251,072)
Amortization of prior service cost5,325 5,633 6,655 
Amortization of unrecognized actuarial loss207,897 165,815 121,823 
Amortization of transition obligation18 18 18 
Net periodic benefit cost$132,324 $130,014 $114,613 
Schedule of defined benefit plans
20212020
Change in benefit obligation
Benefit obligation at beginning of year$6,405,623 $5,487,574 
Service cost84,188 82,743 
Interest cost102,475 142,479 
Acquisition— 380,237 
Plan amendments2,311 3,286 
Actuarial (gain) loss(91,719)569,306 
Benefits paid(264,062)(232,048)
Foreign currency translation and other84,187 (27,954)
Benefit obligation at end of year$6,323,003 $6,405,623 
Change in plan assets
Fair value of plan assets at beginning of year$4,594,106 $4,244,969 
Actual gain on plan assets831,762 253,684 
Acquisition— 280,103 
Employer contributions76,936 72,753 
Benefits paid(264,062)(232,048)
Foreign currency translation and other66,835 (25,355)
Fair value of plan assets at end of year$5,305,577 $4,594,106 
Funded status$(1,017,426)$(1,811,517)
Amounts recognized on the Consolidated Balance Sheet
Other accrued liabilities$(4,944)$(1,423)
Pensions and other postretirement benefits(1,012,482)(1,810,094)
Net amount recognized$(1,017,426)$(1,811,517)
Amounts recognized in Accumulated Other Comprehensive (Loss)
Net actuarial loss$1,090,343 $1,921,389 
Prior service cost15,006 17,184 
Transition obligation8 26 
Net amount recognized$1,105,357 $1,938,599 
20212020
Change in benefit obligation
Benefit obligation at beginning of year$72,130 $60,998 
Service cost328 250 
Interest cost983 1,686 
Acquisition— 12,638 
Actuarial (gain) loss(4,139)1,276 
Benefits paid(5,563)(4,718)
Benefit obligation at end of year$63,739 $72,130 
Funded status$(63,739)$(72,130)
Amounts recognized on the Consolidated Balance Sheet
Other accrued liabilities$(5,634)$(6,374)
Pensions and other postretirement benefits(58,105)(65,756)
Net amount recognized$(63,739)$(72,130)
Amounts recognized in Accumulated Other Comprehensive (Loss)
Net actuarial gain$(4,311)$(173)
Prior service credit— (73)
Net amount recognized$(4,311)$(246)
Plan with accumulated benefit obligation in excess of plan assets Information for pension plans with accumulated benefit obligations in excess of plan assets:
20212020
Accumulated benefit obligation
$5,358,817 $6,028,952 
Fair value of plan assets
4,546,301 4,503,316 
Plan with projected benefit obligation in excess of plan assets Information for pension plans with projected benefit obligations in excess of plan assets:
20212020
Projected benefit obligation
$5,620,693 $6,348,500 
Fair value of plan assets
4,568,113 4,523,545 
Assumptions used to measure periodic benefit cost/benefit obligation
The assumptions used to measure net periodic benefit cost for the Company's significant defined benefit plans are:
202120202019
U.S. defined benefit plan
Discount rate2.36 %3.28 %4.01 %
Average increase in compensation2.98 %3.60 %3.65 %
Expected return on plan assets6.75 %7.00 %7.00 %
Non-U.S. defined benefit plans
Discount rate
0.2 to 3.03%
0.2 to 2.96%
0.3 to 3.37%
Average increase in compensation
1.75 to 4.50%
1.75 to 3.90%
1.75 to 5.50%
Expected return on plan assets
1.0 to 5.40%
1.0 to 5.75%
1.0 to 5.75%
The assumptions used to measure the benefit obligation for the Company's significant defined benefit plans are:
20212020
U.S. defined benefit plan
Discount rate2.55 %2.36 %
Average increase in compensation3.05 %2.98 %
Non-U.S. defined benefit plans
Discount rate
0.25 to 2.95%
0.2 to 3.03%
Average increase in compensation
1.75 to 4.50%
1.75 to 4.50%
The assumptions used to measure the net periodic benefit cost for postretirement benefit obligations are:
202120202019
Discount rate2.14 %3.15 %3.92 %
Current medical cost trend rate (Pre-65 participants)6.73 %7.09 %7.47 %
Current medical cost trend rate (Post-65 participants)7.03 %7.43 %7.87 %
Ultimate medical cost trend rate 4.50 %4.50 %4.50 %
Medical cost trend rate decreases to ultimate in year202820282026
Allocation and fair values of plan assets
The weighted-average allocation of the majority of the assets related to defined benefit plans is as follows:
20212020
Equity securities38 %41 %
Debt securities41 %49 %
Other investments21 %10 %
100 %100 %
The fair values of pension plan assets at June 30, 2021 and at June 30, 2020, by asset class, are as follows:
June 30, 2021Quoted Prices In
 Active Markets
 (Level 1)		Significant Other
 Observable Inputs
 (Level 2)		Significant
 Unobservable
 Inputs
 (Level 3)
Cash and cash equivalents$248,525 $241,421 $7,104 $— 
Equity securities
U.S. based companies408,301 408,301 — — 
Non-U.S. based companies12,834 12,834 — — 
Fixed income securities
Corporate debt securities531,497 1,440 530,057 — 
Government issued securities151,458 105,167 46,291 — 
Mutual funds
Equity funds6,768 6,768 — — 
Fixed income funds6,506 6,506 — — 
Mutual funds measured at net asset value368,340 
Common/Collective trusts measured at net asset value3,161,683 
Limited Partnerships measured at net asset value126,606 
Miscellaneous283,059 — 283,059 — 
Total at June 30, 2021$5,305,577 $782,437 $866,511 $— 
June 30, 2020Quoted Prices In
 Active Markets
 (Level 1)		Significant Other
 Observable Inputs
 (Level 2)		Significant
 Unobservable
 Inputs
 (Level 3)
Cash and cash equivalents$97,112 $96,004 $1,108 $— 
Equity securities
U.S. based companies243,656 243,656 — — 
Non-U.S. based companies9,152 9,152 — — 
Fixed income securities
Corporate debt securities616,582 1,477 615,105 — 
Government issued securities471,059 379,128 91,931 — 
Mutual funds
Equity funds111,466 111,466 — — 
Fixed income funds12,912 12,912 — — 
Mutual funds measured at net asset value259,776 
Common/Collective trusts
Common/Collective trusts measured at net asset value2,711,736 
Limited Partnerships measured at net asset value104,760 
Miscellaneous(44,105)— (44,105)— 
Total at June 30, 2020$4,594,106 $853,795 $664,039 $— 
Schedule of employee stock ownership plan (ESOP)
202120202019
Shares held by ESOP4,497,902 5,306,643 6,134,280 
Company matching contributions$66,249 $69,434 $72,032