Company: SXI
Filing Date: 2025-08-04
Form Type: 10-K
Source: 0001437749-25-024450
Chunk: 561

Company: STANDEX INTERNATIONAL CORP/DE/
Filing Date: 2025-08-04
Form: 10-K
Item: Item 5
Chunk 561
---
.S. employees is frozen for substantially all employees and participants in the plan have ceased accruing future benefits. Obligations under the Company's defined benefit plan operated in Ireland have been transferred to the buyer of the Procon business as part of the divestiture in fiscal year 2023. Obligations under the unfunded defined benefit plan operated by the Sanyu business in Japan were transferred to the Company as of the date of acquisition in the third quarter of fiscal year 2024.
    
   Net periodic benefit cost for U.S. and non-U.S. plans included the following components (in thousands):

       U.S. Plans    Foreign Plans  
   Year Ended June 30,    Year Ended June 30,  
   2025    2024    2023    2025    2024    2023  
 Service Cost  $-  $-  $-  $250  $196  $176 
 Interest Cost   9,544   9,891   9,586   1,217   1,190   1,039 
 Expected return on plan assets   (10,564)  (11,113)  (11,973)  (1,383)  (1,404)  (943)
 Recognized net actuarial loss   4,221   3,802   3,814   -   (607)  (57)
 Amortization of prior service cost (benefit)   -   -   -   (3)  (3)  (4)
 Net periodic benefit cost (benefit)  $3,201  $2,580  $1,427  $81  $(628) $211 

   The following table sets forth the funded status and amounts recognized as of  June 30, 2025 and 2024 for our U.S. and foreign defined benefit pension plans (in thousands):

       U.S. Plans    Foreign Plans  
   Year Ended June 30,    Year Ended June 30,  
   2025    2024    2025    2024  
 Change in benefit obligation                 
 Benefit obligation at beginning of year