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Retirement Benefits (Tables)
 12 Months Ended
Jun. 30, 2023
Retirement Benefits [Abstract]  
Schedule of net benefit costs A summary of the Company's defined benefit pension plans follows:
202320222021
Benefit cost
Service cost$57,418 $76,638 $84,188 
Interest cost225,468 110,250 102,475 
Expected return on plan assets(311,145)(267,888)(267,579)
Amortization of prior service cost931 4,103 5,325 
Amortization of unrecognized actuarial loss17,178 157,288 207,897 
Amortization of transition obligation— 8 18 
One-time charges related to divestitures(2,480)— — 
Net periodic benefit cost$(12,630)$80,399 $132,324 
Schedule of defined benefit plans
20232022
Change in benefit obligation
Benefit obligation at beginning of year$4,959,319 $6,323,003 
Service cost57,418 76,638 
Interest cost225,468 110,250 
Acquisition1,181,139 — 
Plan amendments2,521 (5,691)
Divestiture(1,779)— 
Actuarial gain(349,476)(1,097,053)
Benefits paid(312,758)(256,868)
Foreign currency translation and other73,839 (190,960)
Benefit obligation at end of year$5,835,691 $4,959,319 
Change in plan assets
Fair value of plan assets at beginning of year$4,362,153 $5,305,577 
Actual gain (loss) on plan assets31,399 (605,642)
Acquisition1,140,707 — 
Employer contributions153,038 96,717 
Benefits paid(312,758)(256,868)
Foreign currency translation and other80,756 (177,631)
Fair value of plan assets at end of year$5,455,295 $4,362,153 
Funded status$(380,396)$(597,166)
Amounts recognized on the Consolidated Balance Sheet
Investments and other assets$145,809 $103,632 
Other accrued liabilities(57,783)(19,307)
Pensions and other postretirement benefits(468,422)(681,491)
Net amount recognized$(380,396)$(597,166)
Amounts recognized in Accumulated Other Comprehensive (Loss)
Net actuarial loss$593,937 $672,775 
Prior service cost6,489 4,901 
Net amount recognized$600,426 $677,676 
20232022
Change in benefit obligation
Benefit obligation at beginning of year$48,876 $63,739 
Service cost330 206 
Interest cost3,004 982 
Acquisition39,112 — 
Actuarial gain(4,403)(11,220)
Benefits paid(8,352)(4,831)
Benefit obligation at end of year$78,567 $48,876 
Funded status$(78,567)$(48,876)
Amounts recognized on the Consolidated Balance Sheet
Other accrued liabilities$(7,831)$(4,971)
Pensions and other postretirement benefits(70,736)(43,905)
Net amount recognized$(78,567)$(48,876)
Amounts recognized in Accumulated Other Comprehensive (Loss)
Net actuarial gain$(17,952)$(15,154)
Plan with accumulated benefit obligation in excess of plan assets
Information for pension plans with accumulated benefit obligations in excess of plan assets:
20232022
Accumulated benefit obligation
$4,352,952 $4,284,601 
Fair value of plan assets
3,955,284 3,742,513 
Plan with projected benefit obligation in excess of plan assets Information for pension plans with projected benefit obligations in excess of plan assets:
20232022
Projected benefit obligation
$4,545,650 $4,483,486 
Fair value of plan assets
4,019,445 3,782,688 
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:
202320222021
U.S. defined benefit plan
Discount rate4.36 %2.55 %2.36 %
Average increase in compensation3.35 %3.05 %2.98 %
Expected return on plan assets6.50 %6.50 %6.75 %
Non-U.S. defined benefit plans
Discount rate
0.60 to 5.06%
0.25 to 2.95%
0.20 to 3.03%
Average increase in compensation
1.75 to 4.00%
1.75 to 4.50%
1.75 to 4.50%
Expected return on plan assets
1.00 to 5.10%
1.00 to 4.50%
1.00 to 5.40%
The assumptions used to measure the benefit obligation for the Company's significant defined benefit plans are:
20232022
U.S. defined benefit plan
Discount rate4.88 %4.36 %
Average increase in compensation3.81 %3.81 %
Non-U.S. defined benefit plans
Discount rate
0.90 to 5.20%
0.60 to 5.06%
Average increase in compensation
2.00 to 4.40%
1.75 to 4.00%
The assumptions used to measure the net periodic benefit cost for postretirement benefit obligations are:
202320222021
Discount rate4.26 %2.36 %2.14 %
Current medical cost trend rate (Pre-65 participants)6.73 %6.45 %6.73 %
Current medical cost trend rate (Post-65 participants)6.81 %6.72 %7.03 %
Ultimate medical cost trend rate 4.50 %4.50 %4.50 %
Medical cost trend rate decreases to ultimate in year203120292028
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:
20232022
Equity securities30 %31 %
Debt securities45 %43 %
Other investments25 %26 %
100 %100 %
The fair values of pension plan assets at June 30, 2023 and at June 30, 2022, by asset class, are as follows:
June 30, 2023Quoted Prices In
 Active Markets
 (Level 1)		Significant Other
 Observable Inputs
 (Level 2)		Significant
 Unobservable
 Inputs
 (Level 3)
Cash and cash equivalents$341,812 $333,978 $7,834 $— 
Equity securities
U.S. based companies538,118 523,649 14,469 — 
Non-U.S. based companies152,354 76,173 76,181 — 
Fixed income securities
Corporate debt securities464,056 118,536 345,520 — 
Government issued securities610,326 570,368 39,958 — 
Mutual funds
Equity funds11,406 11,406 — — 
Fixed income funds357 357 — — 
Mutual funds measured at net asset value264,346 
Common/Collective trusts measured at net asset value2,626,832 
Limited Partnerships measured at net asset value137,077 
Miscellaneous308,610 — 308,610 — 
Total at June 30, 2023$5,455,294 $1,634,467 $792,572 $— 
June 30, 2022Quoted Prices In
 Active Markets
 (Level 1)		Significant Other
 Observable Inputs
 (Level 2)		Significant
 Unobservable
 Inputs
 (Level 3)
Cash and cash equivalents$201,053 $190,616 $10,437 $— 
Equity securities
U.S. based companies327,122 327,122 — — 
Non-U.S. based companies8,700 8,700 — — 
Fixed income securities
Corporate debt securities380,694 1,309 379,385 — 
Government issued securities87,650 55,201 32,449 — 
Mutual funds
Equity funds9,085 9,085 — — 
Fixed income funds9,679 9,679 — — 
Mutual funds measured at net asset value279,849 
Common/Collective trusts measured at net asset value2,718,445 
Limited Partnerships measured at net asset value133,026 
Miscellaneous206,850 — 206,850 — 
Total at June 30, 2022$4,362,153 $601,712 $629,121 $— 
Schedule of employee stock ownership plan (ESOP)
202320222021
Shares held by ESOP3,779,985 4,125,214 4,497,902 
Company matching contributions$104,237 $87,554 $66,249