Discontinued Operations

9 Months Ended

Mar. 31, 2023

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

Note 3. – Discontinued Operations

Sold Hospitals and Nursing Home– Subsidiaries of the Company have sold substantially all the assets of five hospitals (“Sold Facilities”) during the period July 2, 2012 to March 17, 2019. The loss before income taxes of the Sold Facilities results primarily from the effects of retained professional liability insurance and claims expenses and settlement of a lawsuit.

Life Sciences and Engineering Segment —SunLink retained a defined benefit retirement plan which covered substantially all the employees of this segment when the segment was sold in fiscal year 1998. Effective February 28, 1997, the plan was amended to freeze participant benefits and close the plan to new participants. Pension expense and related tax benefit or expense is reflected in the results of operations for this segment for the three and nine months ended March 31, 2023 and 2022, respectively.

The components of pension expense for the three and nine months ended March 31, 2023 and 2022, respectively, were as follows:

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2023			2022			2023			2022
Interest Cost	$	13		$	11		$	39		$	32
Expected return on assets		(11	)		(11	)		(32	)		(33	)
Amortization of prior service cost		0			11			0			34
Net pension expense	$	2		$	11		$	7		$	33

SunLink contributed $66 to the plan in the nine months ended March 31, 2023 and expects to contribute an additional $22 during the last three months of the fiscal year ending June 30, 2023.