Note 8 - Supplemental Equity and Accumulated Other Comprehensive Income (Loss)
|12 Months Ended|
Jun. 30, 2020
|Notes to Financial Statements|
|Comprehensive Income (Loss) Note [Text Block]||
Note 8. Supplemental Equity and Accumulated Other Comprehensive Income (loss):
The Company has declared cash dividends per share of $1.28 in each of the full fiscal years ended June 30, 2020, June 30, 2019, and June 30, 2018. During the years ended June 30, 2020 and June 30, 2019, the Company repurchased 279,381 shares at an average share price of $179.37 and 95,000 shares at an average share price of $162.15, respectively. The Company's accounting policy is to record the portion of share repurchases in excess of the par value entirely in retained earnings. During fiscal year 2020, the Company recorded ($0.4) million within the Consolidated Statements of Shareholders' Equity for the surrender and retirement of stock to exercise option due to net settlement stock options exercises.
Accumulated Other Comprehensive Income (loss)
Changes in accumulated other comprehensive income (loss), net of tax, at June 30 consists of (in thousands):
(1) Gains (losses) on the interest swap will be reclassified into interest expense as payments on the derivative agreement are made.The Company reclassified ($4,503) to interest expense and a related tax benefit tax of $1,040 during fiscal 2020. Approximately $7,035 of the $13,253 will be reclassified in the 12 months subsequent to June 30, 2020. The Company had deferred tax benefits of $4,058 and $2,921 included in the accumulated other comprehensive income loss as of June 30, 2020 and June 30, 2019, respectively.
The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef