Page 63 - 2018 Annual Report

Table of Contents
coverage provided and are adjusted annually. Certain monthly health care premium payments are partially subsidized by the Company. Additionally, in conjunction with a fiscal 1998 acquisition, the Company assumed the obligation for a post-retirement medical benefit plan which provides health care benefits to eligible retired employees at no cost to the individual.
The Company uses a June 30 measurement date for all plans.
The following table sets forth the changes in benefit obligations and plan assets during the year and the funded status for the post-employment plans at June 30:
June 30,
Amounts recognized in the consolidated balance sheets:
Other current liabilities
Post-employment benefits
Net amount recognized
Amounts recognized in accumulated other comprehensive loss: Net actuarial (loss) gain
Prior service cost
Total amounts recognized in accumulated other comprehensive loss
$ $
$ $
2017
220 1,464 1,684
1,167 922 2,089
Pension Benefits
Retiree Health Care Benefits
2017
$ 2,235 29 63 69
(237) (245) (230)
$ 1,684
$ — — 168 69
(237) $ —
$ (1,684)
2018
2017
2018
$ 24,411 124 729 —
(3,181) —
(549)
$ 26,605 126 687 —
(1,562) —
(1,445)
$ 1,684 19 52 68
(223) —
(109)
$ 21,534
$ 24,411
$ 1,491
$ 6,530 516 3,837 —
(3,181)
$ 6,737 578 776 —
(1,561)
$— — 155 68
(223)
$ 7,702
$ 6,530
$—
$ (13,832)
$ (17,881)
$ (1,491)
Change in benefit obligation:
Benefit obligation at beginning of the year Service cost
Interest cost
Plan participants’ contributions
Benefits paid
Amendments
Actuarial gain during year
Benefit obligation at end of year
Change in plan assets:
Fair value of plan assets at beginning of year Actual gain on plan assets
Employer contributions
Plan participants’ contributions
Benefits paid
Fair value of plan assets at end of year Funded status at end of year
The amounts recognized in the consolidated balance sheets and in accumulated other comprehensive loss for the post-employment plans were as follows:
Pension Benefits
Retiree Health Care Benefits
2018
2017
2018
$ 3,298 10,534
$ 2,814 15,067
$ 220 1,271
$ 13,832
$ 17,881
$ 1,491
$ (4,781) —
$ (5,798) (35)
$ 1,121 554
$ (4,781)
$ (5,833)
$ 1,675
The following table provides information for pension plans with projected benefit obligations and accumulated benefit obligations in excess of plan assets:
June 30,
Projected benefit obligations Accumulated benefit obligations Fair value of plan assets
$
2017 24,411 24,411 6,530
Pension Benefits
2018
$ 21,534 21,534 7,702
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