Annual report pursuant to Section 13 and 15(d)

Employee Benefit Plans (Tables)

v2.4.0.6
Employee Benefit Plans (Tables)
12 Months Ended
Jun. 30, 2012
Employee Benefit Plans [Abstract]
Summary Data Related to Foreign Defined Benefit Pension Plans
Summary data relating to the Company's foreign defined benefit pension plans, including key weighted-average assumptions used, is provided in the following tables:
Year ended June 30,
(In thousands)
2012
2011
Change in projected benefit obligation
Projected benefit obligation as of the beginning of the fiscal year
$
56,810

$
46344年

Service cost, including plan participant contributions
3,355

3,184

Interest cost
1,406

1,270

Contributions by plan participants
132

126

Adjustment
148

9

Actuarial loss
6,582

1,363

Benefit payments
(789
)
(1,357
)
Foreign currency exchange rate changes
(2,218
)
5,871

Projected benefit obligation as of the end of the fiscal year
$
65,426

$
56,810

Year ended June 30,
(In thousands)
2012
2011
Change in fair value of plan assets
Fair value of plan assets as of the beginning of the fiscal year
$
11,035

$
8,692

Actual return on plan assets
68

78

Employer contributions
1,926

2,024

Benefit and expense payments
(541
)
(1,010
)
Foreign currency exchange rate changes
(779
)
1,251

Fair value of plan assets as of the end of the fiscal year
$
11,709

$
11,035

As of June 30,
(In thousands)
2012
2011
Funded status
Ending funded status
$
(53,717
)
$
(45,775
)
Net amount recognized
$
(53,717
)
$
(45,775
)
As of June 30,
(In thousands)
2012
2011
Plans with accumulated benefit obligations in excess of plan assets
Accumulated benefit obligation
$
28,844

$
39,748

Projected benefit obligation
$
65,426

$
56,810

Plan assets at fair value
$
11,709

$
11,035

Weighted-Average Assumptions Used in Determining Net Periodic Cost
Year ended June 30,
2012
2011
2010
Weighted-average assumptions
Discount rate
1.3%-5.5%
1.8%-5.5%
1.8%-4.9%
Expected return on assets
1.8%-4.5%
1.8%-4.5%
1.8%-4.5%
Rate of compensation increases
3.0%-4.5%
3.0%-4.0%
3.0%-4.0%
Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
Amounts recognized in accumulated other comprehensive income (loss) consist of:
Year ended June 30,
(In thousands)
2012
2011
Unrecognized transition obligation
$
1,868

$
2,318

Unrecognized prior service cost
392

450

Unrealized net loss
15,408

9,288

Amount recognized
$
17,668

$
12,056

Amounts in Other Comprehensive Income (Loss) Expected to be Recognized as Net Periodic Benefit
Amounts in accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the fiscal year ending June 30, 2013 are as follows:
(In thousands)
Year ending
June 30, 2013
Unrecognized transition obligation
$
374

Unrecognized prior service cost
65

Unrealized net loss
580

Amount expected to be recognized
$
1,019

Components of Net Periodic Cost
The components of the Company's net periodic cost relating to its foreign subsidiaries' defined pension plans are as follows:
Year ended June 30,
(In thousands)
2012
2011
2010
Components of net periodic pension cost
Service cost, net of plan participant contributions
$
3,355

$
3,184

$
2,249

Interest cost
1,406

1,270

1,020

Return on plan assets
(309
)
(289
)
(215
)
Amortization of transitional obligation
380

366

28

Amortization of prior service cost
64

61

44

Amortization of net loss
292

178

98

Acquisitions
—

—

313

Adjustment
—

—

3,154

Net periodic pension cost
$
5,188

$
4,770

$
6,691

Foreign Plan Assets Measured at Fair Value on Recurring Basis
Foreign plan assets measured at fair value on a recurring basis consisted of the following investment categories as of June 30, 2012 :
(In thousands)
Total
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant Other
Observable Inputs
(Level 2)
Cash and cash equivalents
$
8,405

$
8,405

$
—

Government, municipal securities, and other
3,304

—

3,304

Total assets measured at fair value
$
11,709

$
8,405

$
3,304

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