Kimball International (KBAL) 10-Q 5 Nov 20 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Sep. 30, 2020	Oct. 23, 2020
Entity Information [Line Items]
Document Type	10-Q
Entity File Number	0-3279
Entity Registrant Name	KIMBALL INTERNATIONAL, INC.
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	35-0514506
City Area Code	812
Entity Address, Address Line One	1600 Royal Street
Entity Address, City or Town	Jasper
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	47546-2256
Local Phone Number	(812) 482-1600
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000055772
Current Fiscal Year End Date	--06-30
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2021
Amendment Flag	false
Entity Small Business	false
Document Quarterly Report	true
Document Transition Report	false
Document Fiscal Period Focus	Q1
Security Exchange Name	NASDAQ
Trading Symbol	KBAL
Title of 12(b) Security	Class B Common Stock, par value $0.05 per share
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		193,162
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		36,784,289

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Current Assets:
Cash and cash equivalents	$ 102,931	$ 91,798
Short-term investments	13,519	5,294
Receivables, net of allowances of $2,490 and $2,574, respectively	51,208	68,365
Inventories	42,145	49,857
Prepaid expenses and other current assets	14,772	16,869
Assets held for sale	0	215
Total current assets	224,575	232,398
Property and equipment, net of accumulated depreciation of $196,642 and $193,641, respectively	90,341	92,041
Right-of-use operating lease assets	15,325	16,461
Goodwill	11,160	11,160
Other intangible assets, net of accumulated amortization of $36,493 and $40,442, respectively	14,870	13,949
Deferred tax assets	8,454	7,485
Other assets	12,998	12,773
Total Assets	377,723	386,267
Current Liabilities:
Current maturities of long-term debt	30	27
Accounts payable	36,553	40,229
Customer deposits	21,724	19,649
Current portion of operating lease liability	4,873	4,886
Dividends payable	3,506	3,454
Accrued expenses	32,096	41,076
Total current liabilities	98,782	109,321
Other Liabilities:
Long-term debt, less current maturities	79	109
Long-term operating lease liability	15,416	16,610
Other	15,753	15,431
Total other liabilities	31,248	32,150
Common stock-par value $0.05 per share:
Additional paid-in capital	3,681	3,770
Retained earnings	307,177	305,024
Accumulated other comprehensive income	2,168	2,137
Less: Treasury stock, at cost, 6,050,000 shares and 6,110,000 shares, respectively	(67,484)	(68,286)
Total Shareholders’ Equity	247,693	244,796
Total Liabilities and Shareholders’ Equity	377,723	386,267
Class A Common Stock
Common stock-par value $0.05 per share:
Common Stock	$ 10	$ 10
Common Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Shares, Issued	193,000	193,000
Class B Common Stock
Common stock-par value $0.05 per share:
Common Stock	$ 2,141	$ 2,141
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	42,830,000	42,830,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Net Sales	$ 147,944	$ 201,452
Cost of Sales	95,586	131,082
Gross Profit	52,358	70,370
Selling and Administrative Expenses	41,689	50,914
Restructuring Expense	4,240	4,350
Operating Income	6,429	15,106
Other Income (Expense):
Interest income	102	607
Interest expense	(28)	(23)
Other income expense net	743	1
Non-operating income, net	817	585
Income Before Taxes on Income	7,246	15,691
Provision for Income Taxes	1,860	4,307
Net Income	$ 5,386	$ 11,384
Earnings Per Share of Common Stock:
Basic Earnings Per Share	$ 0.15	$ 0.31
Diluted Earnings Per Share	$ 0.14	$ 0.31
Class A and B Common Stock:
Average Number of Shares Outstanding - Basic	36,974	36,937
Average Number of Shares Outstanding - Diluted	37,220	37,247

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Net income	$ 5,386	$ 11,384
Other comprehensive income (loss):
Available-for-sale securities, Pre-tax	(25)	(8)
Available-for-sale securities, Tax	7	2
Available-for-sale securities, Net of Tax	(18)	(6)
Postemployment severance actuarial change, Pre-tax	178	149
Postemployment severance actuarial change, Tax	(46)	(39)
Postemployment severance actuarial change, Net of Tax	132	110
Reclassification to (earnings) loss:
Amortization of actuarial change, Pre-tax	(112)	(88)
Amortization of actuarial change, Tax	29	23
Amortization of actuarial change, Net of Tax	(83)	(65)
Other comprehensive income (loss), Pre-tax	41	53
Other comprehensive income (loss), Tax	(10)	(14)
Other comprehensive income (loss), Net of Tax	31	39
Total comprehensive income	$ 5,417	$ 11,423

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Sep. 30, 2020	Sep. 30, 2019
Cash Flows From Operating Activities:
Net income		$ 5,386	$ 11,384
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		3,592	3,610
Amortization		653	521
(Gain) loss on sales of assets		(6)	41
Restructuring and asset impairment charges		830	2,675
Deferred income tax and other deferred charges		(1,006)	(639)
Stock-based compensation		949	1,661
Other, net		(138)	2,295
Change in operating assets and liabilities:
Receivables		17,397	2,521
Inventories		7,712	(458)
Prepaid expenses and other current assets		2,479	1,712
Accounts payable		(3,612)	(192)
Customer deposits		2,075	(631)
Accrued expenses		(9,352)	(13,444)
Net cash provided by operating activities		26,959	11,056
Cash Flows From Investing Activities:
Capital expenditures		(2,823)	(6,873)
Proceeds from sales of assets		7	101
Purchases of capitalized software		(1,161)	(481)
Purchases of available-for-sale securities		(10,000)	(5,971)
Maturities of available-for-sale securities		1,750	12,667
Other, net		(21)	47
Net cash used for investing activities		(12,248)	(510)
Cash Flows From Financing Activities:
Change in long-term debt		(27)	(25)
Dividends paid to shareholders		(3,315)	(2,939)
Repurchase of employee shares for tax withholding		(236)	(842)
Net cash used for financing activities		(3,578)	(3,806)
Net Increase in Cash, Cash Equivalents, and Restricted Cash (1)	[1]	11,133	6,740
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period (1)	[1]	92,444	73,837
Cash, Cash Equivalents, and Restricted Cash at End of Period (1)	[1]	103,577	80,577
Cash paid during the period for:
Income taxes		1,864	34
Interest expense		$ 27	$ 15
[1]	The following table reconciles cash and cash equivalents in the balance sheets to cash, cash equivalents, and restricted cash per the statements of cash flows. The restricted cash included in other assets on the balance sheet represents amounts pledged as collateral for a long-term financing arrangement as contractually required by a lender. The restriction will lapse when the related long-term debt is paid off. Restricted cash also included customer deposits held due to a foreign entity being classified as a restricted entity by a government agency subsequent to our receipt of the deposit.

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareowners' Equity (unaudited) Statement - USD ($) $ in Thousands	Total	Common StockClass A Common Stock	Common StockClass B Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Shareowners’ Equity at Jun. 30, 2019	$ 216,490	$ 12	$ 2,139	$ 3,570	$ 277,391	$ 1,937	$ (68,559)
Net income	11,384				11,384
Other Comprehensive Income (Loss), Net of Tax	39					39
Issuance of non-restricted stock (13,000 shares in Q1'21, 9,000 shares in Q1'20)	0			(118)			118
Conversion of Class A to Class B common stock (0 shares in Q1'21, 2,000 shares in Q1'20)	0	0	0
Compensation expense related to stock incentive plans	2,011			2,011
Performance share issuance (0 shares in Q1'21, 67,000 shares in Q1'20)	(512)			(1,391)			879
Relative total shareholder return performance units issuance (32,000 shares in Q1'21, 48,000 shares in Q1'20)	(330)			(954)			624
Reclassification of equity-classified awards	(680)			(680)
Dividends declared ($0.09 per share in Q1'21, $0.09 per share in Q1'20)	(3,370)				(3,370)
Shareowners’ Equity at Sep. 30, 2019	225,032	12	2,139	2,438	285,405	1,976	(66,938)
Shareowners’ Equity at Jun. 30, 2020	244,796	10	2,141	3,770	305,024	2,137	(68,286)
Net income	5,386				5,386
Other Comprehensive Income (Loss), Net of Tax	31					31
Issuance of non-restricted stock (13,000 shares in Q1'21, 9,000 shares in Q1'20)	0			(168)			168
Compensation expense related to stock incentive plans	949			949
Restricted stock units issuance (15,000 shares in Q1'21, 0 shares in Q1'20)	(80)			(284)			204
Relative total shareholder return performance units issuance (32,000 shares in Q1'21, 48,000 shares in Q1'20)	(156)			(586)			430
Cumulative effect of change in accounting principle	134				134
Dividends declared ($0.09 per share in Q1'21, $0.09 per share in Q1'20)	(3,367)				(3,367)
Shareowners’ Equity at Sep. 30, 2020	$ 247,693	$ 10	$ 2,141	$ 3,681	$ 307,177	$ 2,168	$ (67,484)

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (unaudited) Parentheticals - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Allowance for Doubtful Accounts, Premiums and Other Receivables	$ 2,490	$ 2,574
Property and Equipment Accumulated Depreciation	196,642	193,641
Intangible Assets Accumulated Amortization	$ 36,493	$ 40,442
Class A Common Stock
Common Stock, Shares Authorized	50,000,000	50,000,000
Common Stock, Shares, Issued	193,000	193,000
Common Stock, Par or Stated Value Per Share	$ 0.05	$ 0.05
Class B Common Stock
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	42,830,000	42,830,000
Treasury Stock, Shares	6,050,000	6,110,000
Common Stock, Par or Stated Value Per Share	$ 0.05	$ 0.05

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (unaudited) - Cash Reconciliation - USD ($) $ in Thousands		Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Jun. 30, 2019
Cash and cash equivalents		$ 102,931	$ 91,798	$ 79,934	$ 73,196
Restricted cash included in Other Assets		646	646	643	641
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	[1]	$ 103,577	$ 92,444	$ 80,577	$ 73,837
[1]	The following table reconciles cash and cash equivalents in the balance sheets to cash, cash equivalents, and restricted cash per the statements of cash flows. The restricted cash included in other assets on the balance sheet represents amounts pledged as collateral for a long-term financing arrangement as contractually required by a lender. The restriction will lapse when the related long-term debt is paid off. Restricted cash also included customer deposits held due to a foreign entity being classified as a restricted entity by a government agency subsequent to our receipt of the deposit.

Condensed Consolidated Statem_6

Condensed Consolidated Statement of Shareowners' Equity (unaudited) Parentheticals - $ / shares	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Issuance of non-restricted stock, Shares	13,000	9,000
Conversion of Class A to Class B common stock, Shares		2,000
Performance Share Issuance, Shares		67,000
Vesting of restricted stock units, Shares	15,000
Relative total shareholder return performance units issuance, Shares	32,000	48,000
Common Stock, Dividends, Per Share, Declared	$ 0.09	$ 0.09

Note 1. Basis of Presentation (

Note 1. Basis of Presentation (Notes)	3 Months Ended
	Sep. 30, 2020
Basis of Presentation [Abstract]
Business Description and Basis of Presentation	Basis of PresentationThe accompanying unaudited Condensed Consolidated Financial Statements of Kimball International, Inc. (the “Company,” “Kimball International,” “we,” “us,” or “our”) have been prepared in accordance with the instructions to Form 10-Q. As such, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted, although we believe that the disclosures are adequate to make the information presented not misleading. Intercompany transactions and balances have been eliminated. Management believes the financial statements include all adjustments (consisting only of normal recurring adjustments) considered necessary to present fairly the financial statements for the interim periods. The results of operations for the interim periods shown in this report are not necessarily indicative of results for any future interim period or for the entire fiscal year. It is suggested that these financial statements be read in conjunction with the financial statements and the notes thereto included in our latest annual report on Form 10-K. Additionally, based on the duration and severity of the current global situation involving the COVID-19 pandemic, including but not limited to the prolonged reduction in travel and the speed of the recovery of economic conditions globally, the extent to which COVID-19 will impact our business and our consolidated financial results will depend on future developments, which are highly uncertain and cannot be predicted.

Note 2. Recent Accounting Prono

Note 2. Recent Accounting Pronouncements and Supplemental Information (notes)	3 Months Ended
	Sep. 30, 2020
Recent Accounting Pronouncements and Supplemental Information [Abstract]
Recent Accounting Pronouncements and Supplemental Information	Recent Accounting Pronouncements and Supplemental Information Recently Adopted Accounting Pronouncements: In August 2018, the Financial Accounting Standards Board (“FASB”) issued guidance on a customer’s accounting for implementation, set-up, and other upfront costs incurred in a cloud computing arrangement that is hosted by the vendor. Under the new guidance, customers will apply the same criteria for capitalizing implementation costs as they would for an arrangement that has a software license. The guidance was adopted during our first quarter of fiscal year 2021 and was applied prospectively. The adoption of this guidance did not have a material effect on our condensed consolidated financial statements. In August 2018, the FASB issued guidance which changes the fair value measurement disclosure requirements. The guidance modifies and removes certain disclosures related to the fair value hierarchy, and adds new disclosure requirements such as disclosing the changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements and disclosing the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The guidance was adopted during our first quarter of fiscal year 2021 and was applied retrospectively. The adoption of this guidance did not have a material effect on our condensed consolidated financial statements. In June 2016, the FASB issued guidance on the measurement of credit losses on financial instruments. Under the guidance, an entity recognizes as an allowance its estimate of expected credit losses, which the FASB believes will result in more timely recognition of such losses. The guidance is also intended to reduce the complexity by decreasing the number of credit impairment models that entities use to account for debt instruments. In May 2019, the FASB amended the new standard to allow entities to elect the fair value option on certain financial instruments that were previously recorded at amortized cost. In November 2019, the FASB amended the new standard to extend the disclosure relief for accrued interest receivable balances to additional relevant disclosures involving amortized cost basis. The guidance was adopted during our first quarter of fiscal year 2021 and did not have a material effect on our condensed consolidated financial statements. Goodwill and Other Intangible Assets: Goodwill represents the difference between the purchase price and the related underlying tangible and intangible net asset fair values resulting from business acquisitions. Goodwill is assigned to and the fair value is tested at the reporting unit level. Annually, or if conditions indicate an earlier review is necessary, we may assess qualitative factors to determine if it is more likely than not that the fair value is less than its carrying amount. We also have the option to bypass the qualitative assessment and proceed directly to performing the quantitative goodwill impairment test which compares the carrying value of the reporting unit to the reporting unit’s fair value to identify impairment. Under the quantitative assessment, if the fair value of the reporting unit is less than the carrying value, goodwill is written down to its fair value. The fair value is established primarily using a discounted cash flow analysis and secondarily a market approach utilizing current industry information. The calculation of the fair value of the reporting unit considers current market conditions existing at the assessment date. As of September 30, 2020 and June 30, 2020 our goodwill totaled $11.2 million. During the quarter ended September 30, 2020, no goodwill impairment was recognized. Other Intangible Assets reported on the Condensed Consolidated Balance Sheets consist of capitalized software, customer relationships, trade names, and non-compete agreements. Intangible assets are reviewed for impairment when events or circumstances indicate that the carrying value may not be recoverable over the remaining lives of the assets. A summary of intangible assets subject to amortization is as follows: September 30, 2020 June 30, 2020 (Amounts in Thousands) Cost Accumulated Net Value Cost Accumulated Net Value Capitalized Software $ 40,643 $ 33,340 $ 7,303 $ 43,671 $ 37,566 $ 6,105 Customer Relationships 7,050 2,054 4,996 7,050 1,871 5,179 Trade Names 3,570 1,041 2,529 3,570 952 2,618 Non-Compete Agreements 100 58 42 100 53 47 Other Intangible Assets $ 51,363 $ 36,493 $ 14,870 $ 54,391 $ 40,442 $ 13,949 Amortization expense related to intangible assets was, in thousands, $653 during the quarter ended September 30, 2020, and $521 during the quarter ended September 30, 2019. Amortization expense in future periods is expected to be, in thousands, $2,170 for the remainder of fiscal year 2021, and $2,460, $2,068, $1,806, and $1,649 in the four years ending June 30, 2025, and $4,717 thereafter. The estimated useful life of capitalized software ranges from 2 to 10 years. The amortization period for customer relationship intangible assets is 20 years. The estimated useful life of trade names is 10 years. The estimated useful life of non-compete agreements is 5 years. Capitalized software is stated at cost less accumulated amortization and is amortized using the straight-line method. During the software application development stage, capitalized costs include external consulting costs, cost of software licenses, and internal payroll and payroll-related costs for employees who are directly associated with a software project. Upgrades and enhancements are capitalized if they result in added functionality which enable the software to perform tasks it was previously incapable of performing. Software maintenance, training, data conversion, and business process re-engineering costs are expensed in the period in which they are incurred. Trade names and non-compete agreements are amortized on a straight-line basis over their estimated useful lives. Capitalized customer relationships are amortized based on estimated attrition rates of customers. We have no intangible assets with indefinite useful lives which are not subject to amortization. Notes Receivable and Trade Accounts Receivable: Notes receivable and trade accounts receivable are recorded per the terms of the agreement or sale, and accrued interest is recognized when earned. We determine on a case-by-case basis the cessation of accruing interest, the resumption of accruing interest, the method of recording payments received on non accrual receivables, and the delinquency status for our limited number of notes receivable. Our policy for estimating the allowance for credit losses on trade accounts receivable and notes receivable considers several factors including historical write-off experience, overall customer credit quality in relation to general economic and market conditions, and specific customer account analyses to estimate the collectability of certain accounts. The specific customer account analyses considers such items as aging, credit worthiness, payment history, and historical bad debt experience. Trade accounts receivable and notes receivable are written off after exhaustive collection efforts occur and the receivable is deemed uncollectible. Our limited amount of notes receivable allows management to monitor the risks, credit quality indicators, collectability, and probability of impairment on an individual basis. Adjustments to the allowance for credit losses are recorded in selling and administrative expenses. Customary terms require payment within 30 days, with terms beyond 30 days being considered extended. Non-operating Income (Expense), net: The non-operating income (expense), net line item includes the impact of such items as fair value adjustments on Supplemental Employee Retirement Plan (“SERP”) investments, amortization of actuarial income, bank charges, and other miscellaneous non-operating income and expense items that are not directly related to operations. The gain or loss on SERP investments is offset by a change in the SERP liability that is recognized in selling and administrative expenses. Components of the Non-operating income (expense), net line, were: Three Months Ended September 30 (Amounts in Thousands) 2020 2019 Gain on Supplemental Employee Retirement Plan Investments $ 758 $ 58 Other (15) (57) Non-operating income, net $ 743 $ 1

Note 3. Restructuring (Notes)

Note 3. Restructuring (Notes)	3 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure	Restructuring During the first three months of fiscal years 2021 and 2020, we recognized pre-tax restructuring expense of $4.2 million and $4.4 million, respectively. We utilized available market prices and management estimates to determine the fair value of impaired assets. Restructuring is included in the Restructuring Expense line item on our Condensed Consolidated Statements of Income. Transformation Restructuring Plan Phase 1: In June 2019, we announced a transformation restructuring plan to optimize resources for future growth, improve efficiency, and build capabilities across our organization. We believe phase 1 of our transformation restructuring plan has established a more cost-efficient structure to better align our operations with our long-term strategic goals. The transformation restructuring plan includes the following: • We reviewed our overall manufacturing facility footprint to reduce excess capacity and gain efficiencies by centralizing manufacturing operations. We have ceased operations at a leased seating manufacturing facility in Martinsville, Virginia, and consolidated a David Edward production facility in Red Lion, Pennsylvania into our Baltimore, Maryland facility. • The creation of center-led functions for finance, human resources, information technology and legal functions resulted in the standardization of processes and the elimination of duplication. In addition, we centralized our supply chain efforts to maximize supplier value and plan to drive more efficient practices and operations within our logistics function. • Kimball brand selling resources were reallocated to higher-growth markets. We also ceased use of four leased furniture showrooms across our brands during the first quarter of fiscal year 2020 and recognized impairment of the lease and associated leasehold improvements. Additional impairment was recognized in our fourth quarter due to degradation of sublease assumptions resulting from the current economic environment. We estimate that the total pre-tax restructuring charges upon completion of the plan will be approximately $11.1 million. The restructuring charges are expected to consist of approximately $3.6 million for severance and other employee-related costs, $3.5 million for facility exit and other costs, and $4.0 million for asset impairment. Approximately 55% of the total cost estimate is expected to be cash expense. A summary of the charges recorded in connection with phase 1 of the transformation restructuring plan is as follows: Three Months Ended Charges Incurred to Date September 30 (Amounts in Thousands) 2020 2019 Cash-related restructuring charges: Severance and other employee related costs $ 62 $ 1,206 $ 2,884 Facility exit costs and other cash charges 331 469 2,371 Total cash-related restructuring charges $ 393 $ 1,675 $ 5,255 Non-cash charges: Transition stock compensation — 470 725 Impairment of assets 332 2,205 4,022 Other non-cash charges 38 — 187 Total non-cash charges $ 370 $ 2,675 $ 4,934 Total charges $ 763 $ 4,350 $ 10,189 A summary of the current period activity in accrued restructuring related to phase 1 of the transformation restructuring plan is as follows: (Amounts in Thousands) Severance and other employee related costs Facility exit and other costs Total Balance at June 30, 2020 $ 167 $ 65 $ 232 Additions charged to expense 62 — 62 Cash payments charged against reserve (212) (54) (266) Balance at September 30, 2020 $ 17 $ 11 $ 28 Transformation Restructuring Plan Phase 2: In August 2020, we announced the next phase of our transformation restructuring plan that will align our business units to a new market-centric orientation and is expected to yield additional cost savings that will aid us in effectively managing through the downturn caused by the COVID-19 pandemic. Phase 2 of the transformation restructuring plan builds on the initial strategy and the transformation restructuring plan announced in June 2019. The following is a summary of the activities we will be undertaking pursuant to phase 2 of the transformation restructuring plan: • As part of the previously announced plan to consolidate manufacturing of all brands into one world-class global operations group, we are streamlining our manufacturing facilities by leveraging production capabilities across all facilities, establishing centers of excellence, and setting up processes to facilitate flexing of product between facilities in response to volume fluctuations. We are also reviewing our overall facility footprint to identify opportunities to reduce capacity and gain efficiencies. • We are streamlining our workforce to align with the new organizational structure and respond to lower volumes created by the COVID-19 pandemic, creating a more efficient organization to deliver on our Connect 2.0 strategy. Phase 2 of the transformation restructuring plan began in the first quarter of our fiscal year 2021, and we expect a substantial majority of the underlying activities of these aforementioned actions to be completed within two years. In addition to the savings already generated from phase 1 of the transformation restructuring plan, the efforts of the phase 2 transformation restructuring plan are expected to generate annualized pre-tax savings of approximately $18.0 million when it is fully implemented. We currently estimate the phase 2 transformation restructuring plan will incur total pre-tax restructuring charges of approximately $17.0 million to $18.0 million, with $13.0 million to $14.0 million expected to be recorded in fiscal year 2021, and the remainder in fiscal year 2022. The restructuring charges are expected to consist of approximately $8.0 million to $8.4 million for severance and other employee-related costs, $4.2 million to $4.4 million for facility costs, and $4.8 million to $5.2 million for lease and other asset impairment. Approximately 75% of the total cost estimate is expected to be cash expense. A summary of the charges recorded in connection with phase 2 of the transformation restructuring plan is as follows: Three Months Ended September 30, (Amounts in Thousands) 2020 Cash-related restructuring charges: Severance and other employee related costs $ 2,890 Facility exit costs and other cash charges 127 Total cash-related restructuring charges $ 3,017 Non-cash charges: Impairment of assets 460 Total charges $ 3,477 A summary of the current period activity in accrued restructuring related to phase 2 of the transformation restructuring plan is as follows: (Amounts in Thousands) Severance and other employee related costs Balance at June 30, 2020 $ — Additions charged to expense 2,890 Cash payments charged against reserve (2,087) Balance at September 30, 2020 $ 803

Note 4. Revenue (Notes)

Note 4. Revenue (Notes)	3 Months Ended
	Sep. 30, 2020
Revenue Recognition [Abstract]
Revenue from Contract with Customer [Text Block]	Revenue Disaggregation of Revenue The following table provides information about revenue by end market: Three Months Ended September 30 (Amounts in Millions) 2020 2019 Workplace $ 95.3 $ 125.8 Health 20.6 28.9 Hospitality 32.0 46.8 Total Net Sales $ 147.9 $ 201.5 The Workplace, Health and Hospitality end markets align with the reorganization which occurred at the beginning of fiscal year 2021. Our Workplace end market includes sales to the commercial, financial, government and education vertical markets. We report revenue under a single aggregated reportable segment consisting of three operating segments which have similar products and services in nature, utilize similar production and distribution processes, and share similar long-term economic characteristics. Contract Balances Receivables in the Condensed Consolidated Balance Sheets represent the amount of consideration to which we are entitled in exchange for the goods or services sold to our customers, net of allowances for doubtful accounts. Receivables are recorded when the right to consideration from the customer becomes unconditional, which is generally upon billing or upon satisfaction of a performance obligation, whichever is earlier. We also receive deposits from certain customers before revenue is recognized, resulting in the recognition of a contract liability reported as Customer Deposits in the Condensed Consolidated Balance Sheets. Customer deposits are typically utilized within a year of the receipt of the deposit. The amount of revenue recognized during the three months ended September 30, 2020 that was included in the June 30, 2020 customer deposit balance was $14.5 million.

Note 5. Leases (Notes)

Note 5. Leases (Notes)	3 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases of Lessee Disclosure [Text Block]	Leases We have operating leases for showrooms, manufacturing facilities, warehouses, certain offices, and other facilities to support our operations in addition to select equipment that expire at various dates through 2028. We have no financing leases. Certain operating lease agreements include rental payments adjusted periodically for inflationary indexes. Additionally, some leases include options to renew or terminate the leases which can be exercised at our discretion. Lease terms include the noncancellable portion of the underlying leases along with any reasonably certain lease periods associated with available renewal periods. Certain leases have terms that are dependent upon the occurrence of events, activities, or circumstances in lease agreements and incur variable lease expense driven by warehouse square footage utilized, property taxes assessed, and other non-lease component charges. Variable lease expense is presented as operating expense in our Condensed Consolidated Statements of Income and Comprehensive Income in the same line item as expense arising from fixed lease payments for operating leases. For all classes of assets, we do not separate non-lease components of a contract from the lease components to which they relate. We do not recognize a right-of-use asset or lease liability for short-term leases that have a lease term of twelve months or less. The components of our lease expenses are as follows: Three Months Ended September 30 (Amounts in Millions) 2020 2019 Operating lease expense $ 0.8 $ 0.8 Variable lease expense 0.7 0.7 Total lease expense $ 1.5 $ 1.5 Right-of-use assets for operating leases are tested for impairment in the same manner as long-lived assets used in operations as explained in Note 11 - Fair Value of Notes to Condensed Consolidated Financial Statements. During the first quarter of fiscal year 2021, we recorded $0.2 million of right-of-use asset and associated leasehold improvement impairment resulting from consolidating a production facility in Red Lion, Pennsylvania into our Baltimore, Maryland facility as part of our transformation restructuring plan. During the first quarter of fiscal year 2020, we recorded $2.2 million of right-of-use asset and associated leasehold improvement impairment resulting from ceasing use of four furniture showrooms after the implementation of ASC 842 as part of our transformation restructuring plan. The impairment charges are included in the Restructuring Expense line item on our Condensed Consolidated Statements of Income. Supplemental cash flow and other information related to leases are as follows: Three Months Ended September 30 (Amounts in Millions) 2020 2019 Cash flow information: Operating lease payments impacting lease liability $ 1.2 $ 1.2 Leased assets obtained in exchange for operating lease liabilities $ — $ 0.1 As of September 30 (Amounts in Millions) 2020 2019 Other information: Weighted-average remaining term (in years) 5.4 6.1 Weighted-average discount rate 4.7 % 4.6 % The following table summarizes the future minimum lease payments as of September 30, 2020: Fiscal Year Ended (Amounts in Millions) June 30 (1) 2021 $ 3.8 2022 4.7 2023 4.1 2024 3.4 2025 3.1 Thereafter 3.9 Total lease payments $ 23.0 Less interest 2.7 Present value of lease liabilities $ 20.3

Note 6. Earnings Per Share (Not

Note 6. Earnings Per Share (Notes)	3 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share are based on the weighted average number of shares outstanding during the period. Diluted earnings per share are based on the weighted average number of shares outstanding plus the assumed issuance of common shares for all potentially dilutive securities. Three Months Ended September 30 (Amounts in Thousands, Except for Per Share Data) 2020 2019 Net Income $ 5,386 $ 11,384 Average Shares Outstanding for Basic EPS Calculation 36,974 36,937 Dilutive Effect of Average Outstanding Compensation Awards 246 310 Average Shares Outstanding for Diluted EPS Calculation 37,220 37,247 Basic Earnings Per Share $ 0.15 $ 0.31 Diluted Earnings Per Share $ 0.14 $ 0.31

Note 7. Income Taxes (Notes)

Note 7. Income Taxes (Notes)	3 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	Income TaxesIn determining the quarterly provision for income taxes, we use an estimated annual effective tax rate which is based on expected annual income, statutory tax rates, and available tax planning opportunities in the various jurisdictions in which we operate. Unusual or infrequently occurring items are separately recognized in the quarter in which they occur. Our effective tax rate was 25.7% for the three months ended September 30, 2020, which was equal to the combined federal and state statutory tax rate. Our effective tax rate was 27.4% for the three months ended September 30, 2019, which was higher than the combined federal and state statutory rate primarily due to a prior year tax provision adjustment.

Note 8. Inventories

Note 8. Inventories	3 Months Ended
	Sep. 30, 2020
Inventories [Abstract]
Inventory Disclosure	Inventories Inventory components were as follows: (Amounts in Thousands) September 30, June 30, Finished products $ 25,099 $ 29,081 Work-in-process 1,247 1,648 Raw materials 32,119 35,295 Total FIFO inventory 58,465 66,024 LIFO reserve (16,320) (16,167) Total inventory $ 42,145 $ 49,857

Note 9. Accumulated Other Compr

Note 9. Accumulated Other Comprehensive Income	3 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Income [Abstract]
Accumulated Comprehensive Income	Accumulated Other Comprehensive Income During the three months ended September 30, 2020 and 2019, the changes in the balances of each component of Accumulated Other Comprehensive Income, net of tax, were as follows: Accumulated Other Comprehensive Income (Amounts in Thousands) Unrealized Investment Gain (Loss) Postemployment Benefits Net Actuarial Gain (Loss) Accumulated Other Comprehensive Income Balance at June 30, 2020 $ 32 $ 2,105 $ 2,137 Other comprehensive income (loss) before reclassifications (18) 132 114 Reclassification to (earnings) loss — (83) (83) Net current-period other comprehensive income (loss) (18) 49 31 Balance at September 30, 2020 $ 14 $ 2,154 $ 2,168 Balance at June 30, 2019 $ 23 $ 1,914 $ 1,937 Other comprehensive income (loss) before reclassifications (6) 110 104 Reclassification to (earnings) loss — (65) (65) Net current-period other comprehensive income (loss) (6) 45 39 Balance at September 30, 2019 $ 17 $ 1,959 $ 1,976 The following reclassifications were made from Accumulated Other Comprehensive Income to the Condensed Consolidated Statements of Income: Reclassifications from Accumulated Other Comprehensive Income Three Months Ended Affected Line Item in the Condensed Consolidated Statements of Income September 30 (Amounts in Thousands) 2020 2019 Postemployment Benefits Amortization of Actuarial Gain (1) $ 112 $ 88 Non-operating income (expense), net (29) (23) Benefit (Provision) for Income Taxes Total Reclassifications for the Period $ 83 $ 65 Net Income Amounts in parentheses indicate reductions to income. (1) See Note 1 4 - Postemployment Benefits

Note 10. Commitments and Contin

Note 10. Commitments and Contingent Liabilities	3 Months Ended
	Sep. 30, 2020
Commitments and Contingent Liabilities [Abstract]
Commitments and Contingencies Disclosure	Commitments and Contingent Liabilities Guarantees: Standby letters of credit were issued to lessors and insurance institutions and can only be drawn upon in the event of our failure to pay our obligations to a beneficiary. As of September 30, 2020, we had a maximum financial exposure from unused standby letters of credit totaling $1.6 million. We are periodically required to provide performance bonds in order to conduct business with certain customers. The bonds are required to provide assurances to customers that the products and services they have purchased will be installed and/or provided properly and without damage to their facilities. We are ultimately liable for claims that may occur against the performance bonds. We had a maximum financial exposure from performance bonds totaling $8.7 million as of September 30, 2020. We are not aware of circumstances that would require us to perform under these arrangements and believe that the resolution of any claims that might arise in the future, either individually or in the aggregate, would not materially affect our condensed consolidated financial statements. Accordingly, no liability has been recorded as of September 30, 2020 with respect to the standby letters of credit or performance bonds. We also enter into commercial letters of credit to facilitate payments to vendors and from customers. Product Warranties: We provide an assurance-type warranty that guarantees our product complies with agreed-upon specifications. This warranty is not sold separately and does not convey any additional services to the customer. We estimate product warranty liability at the time of sale based on historical repair or replacement cost trends in conjunction with the length of the warranty offered. Management refines the warranty liability periodically based on changes in historical cost trends and in certain cases where specific warranty issues become known. Changes in the product warranty accrual for the three months ended September 30, 2020 and 2019 were as follows: Three Months Ended September 30 (Amounts in Thousands) 2020 2019 Product Warranty Liability at the beginning of the period $ 3,190 $ 2,238 Additions to warranty accrual (including changes in estimates) 427 278 Settlements made (in cash or in kind) (572) (370) Product Warranty Liability at the end of the period $ 3,045 $ 2,146

Note 11. Fair Value

Note 11. Fair Value	3 Months Ended
	Sep. 30, 2020
Fair Value [Abstract]
Fair Value Disclosures	Fair Value We categorize assets and liabilities measured at fair value into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows: • Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities. • Level 2: Observable inputs other than those included in Level 1. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. • Level 3: Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability. There were no changes in the inputs or valuation techniques used to measure fair values compared to those disclosed in our Annual Report on Form 10-K for the fiscal year ended June 30, 2020. We hold a total investment of $2.0 million in a privately-held company, consisting of $0.5 million in equity securities without readily determinable fair value and $1.5 million in stock warrants. The investment in equity securities without readily determinable fair value is classified as a Level 3 financial asset, as explained in the Financial Instruments Not Carried At Fair Value section below. The investment in stock warrants is also classified as a Level 3 financial asset and is accounted for as a derivative instrument valued on a recurring basis, as explained in the Financial Instruments Recognized at Fair Value section below. See Note 1 2 - Investments of Notes to Condensed Consolidated Financial Statements for further information regarding the investment in equity securities without readily determinable fair value, and Note 1 3 - Derivative Instruments of Notes to Condensed Consolidated Financial Statements for further information regarding the investment in stock warrants. No purchases or sales of Level 3 assets occurred during the three months ended September 30, 2020. Financial Instruments Recognized at Fair Value: The following methods and assumptions were used to measure fair value: Financial Instrument Level Valuation Technique/Inputs Used Cash Equivalents: Money market funds 1 Market - Quoted market prices Available-for-sale securities: Secondary market certificates of deposit 2 Market - Based on market data which use evaluated pricing models and incorporate available trade, bid, and other market information. Available-for-sale securities: U.S. Treasury securities 1 Market - Quoted market prices Trading securities: Mutual funds held in nonqualified SERP 1 Market - Quoted market prices Derivative Assets: Stock warrants 3 Market - The privately-held company is in a start-up phase. The pricing of recent purchases or sales of the investment are considered, if any, as well as positive and negative qualitative evidence, in the assessment of fair value. The value of the stock warrants fluctuates primarily in relation to the value of the privately-held company's underlying securities. Recurring Fair Value Measurements: As of September 30, 2020 and June 30, 2020, the fair values of financial assets that are measured at fair value on a recurring basis using the market or income approach are categorized as follows: September 30, 2020 (Amounts in Thousands) Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 98,571 $ — $ — $ 98,571 Available-for-sale securities: Secondary market certificates of deposit — 3,519 — 3,519 Available-for-sale securities: U.S. Treasury securities 10,000 — — 10,000 Trading Securities: Mutual funds in nonqualified SERP 12,708 — — 12,708 Derivatives: Stock warrants — — 1,500 1,500 Total assets at fair value $ 121,279 $ 3,519 $ 1,500 $ 126,298 June 30, 2020 (Amounts in Thousands) Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 91,035 $ — $ — $ 91,035 Available-for-sale securities: Secondary market certificates of deposit — 5,294 — 5,294 Trading Securities: Mutual funds in nonqualified SERP 11,975 — — 11,975 Derivatives: Stock warrants — — 1,500 1,500 Total assets at fair value $ 103,010 $ 5,294 $ 1,500 $ 109,804 The nonqualified supplemental employee retirement plan (“SERP”) assets consist primarily of equity funds, balanced funds, target date funds, a bond fund, and a money market fund. The SERP investment assets are offset by a SERP liability which represents our obligation to distribute SERP funds to participants. See Note 1 2 - Investments of Notes to Condensed Consolidated Financial Statements for further information regarding the SERP. Non-Recurring Fair Value Measurements: Certain assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis but are subject to fair value adjustments when events or circumstances indicate a significant adverse effect on the fair value of the asset. Assets that are written down to fair value when impaired are not subsequently adjusted to fair value unless further impairment occurs. Non-recurring Fair Value Adjustment Level Valuation Technique/Inputs Used Impairment of Right of Use Lease Assets and Related Asset Groups 3 Income - Based on a valuation model that measures the present value of remaining lease payments less estimated sublease income at a discount rate that captures the risk associated with the future cash flows. During the first quarter of fiscal year 2021, we recorded $0.2 million of right-of-use asset and associated leasehold improvement impairment resulting from consolidating a production facility in Red Lion, Pennsylvania into our Baltimore, Maryland facility as part of our transformation restructuring plan. During the first quarter of fiscal year 2020, due to ceasing use of four showrooms related to the Transformation Restructuring Plan, we recognized an impairment loss of $2.2 million to reduce the related asset groups to fair value. The impairment loss is included as a component of the Restructuring Expense line item on our Condensed Consolidated Statements of Income. The asset groups used to calculate impairment included the right-of-use lease assets, leasehold improvements, and lease liabilities. Financial Instruments Not Carried At Fair Value: Financial instruments that are not reflected in the Condensed Consolidated Balance Sheets at fair value that have carrying amounts which approximate fair value include the following: Financial Instrument Level Valuation Technique/Inputs Used Notes receivable 2 Market - Price approximated based on the assumed collection of receivables in the normal course of business, taking into account the customer’s non-performance risk. Equity securities without readily determinable fair value 3 Cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Impairment is assessed qualitatively. On a periodic basis, but no less frequently than quarterly, the investment in equity securities without readily determinable fair value is qualitatively assessed for impairment when there are events or changes in circumstances that may have a significant adverse effect on the fair value of the investment. If a significant adverse effect on the fair value of the investment were to occur and was deemed to be other-than-temporary, the fair value of the investment would be estimated, and the amount by which the carrying value of the investment exceeds its fair value would be recorded as an impairment loss. See Note 1 2 - Investments of Notes to Condensed Consolidated Financial Statements for the carrying amount of this investment. The carrying value of our cash deposit accounts, trade accounts receivable, trade accounts payable, customer deposits, and dividends payable approximates fair value due to the relatively short maturity and immaterial non-performance risk.

Note 12. Investments

Note 12. Investments	3 Months Ended
	Sep. 30, 2020
Investments [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure	Investments Investment Portfolio: Our investment portfolio consists of U.S. Treasury securities and certificates of deposit purchased in the secondary market. Our investment policy dictates that U.S. Treasury securities must be investment grade quality. Our secondary market certificates of deposit are classified as investment securities, being purchased in the secondary market through a broker and available to be sold in the secondary market. All certificates of deposit are FDIC insured. Our investment portfolio is available for use in current operations; therefore, investments are recorded within Current Assets in the Condensed Consolidated Balance Sheets. The contractual maturities of our investment portfolio were as follows: September 30, 2020 (Amounts in Thousands) Certificates of Deposit U.S. Treasury Securities Within one year $ 3,519 $ 10,000 After one year through two years — — Total Fair Value $ 3,519 $ 10,000 All investments are classified as available-for-sale securities which are recorded at fair value. See Note 1 1 - Fair Value of Notes to Condensed Consolidated Financial Statements for more information on the fair value of available-for-sale securities. The amortized cost basis reflects the original purchase price, with discounts and premiums amortized over the life of the available-for-sale securities. Unrealized losses on available-for-sale securities are recognized in earnings when there is intent to sell or it is likely to be required to sell before recovery of the loss, or when the available-for-sale securities have incurred a credit loss. Otherwise, unrealized gains and losses are recorded net of the tax-related effect as a component of Shareholders’ Equity. September 30, 2020 (Amounts in Thousands) Certificates of Deposit U.S. Treasury Securities Amortized cost basis $ 3,500 $ 10,000 Unrealized holding gains 19 — Unrealized holding losses — — Fair Value $ 3,519 $ 10,000 June 30, 2020 (Amounts in Thousands) Certificates of Deposit U.S. Treasury Securities Amortized cost basis $ 5,250 $ — Unrealized holding gains 44 — Unrealized holding losses — — Fair Value $ 5,294 $ — No investments were in a continuous unrealized loss position for greater than twelve months as of September 30, 2020. There were no realized gains or losses as a result of sales in the three months ended September 30, 2020 and September 30, 2019. Supplemental Employee Retirement Plan Investments: We maintain a self-directed SERP in which executive employees are eligible to participate. The SERP utilizes a rabbi trust, and therefore assets in the SERP portfolio are subject to creditor claims in the event of bankruptcy. We recognize SERP investment assets on the Condensed Consolidated Balance Sheets at current fair value. A SERP liability of the same amount is recorded on the Condensed Consolidated Balance Sheets representing an obligation to distribute SERP funds to participants. The SERP investment assets are classified as trading, and accordingly, realized and unrealized gains and losses are recognized in the Other Income (Expense) section of the Condensed Consolidated Statements of Income. Adjustments made to revalue the SERP liability are also recognized in income or expense as selling and administrative expenses and offset valuation adjustments on SERP investment assets. Net unrealized holding gains for the three months ended September 30, 2020 and 2019 were, in thousands, $679 and $24, respectively. SERP asset and liability balances were as follows: (Amounts in Thousands) September 30, June 30, SERP investments - current asset $ 3,861 $ 3,622 SERP investments - other long-term asset 8,847 8,353 Total SERP investments $ 12,708 $ 11,975 SERP obligation - current liability $ 3,861 $ 3,622 SERP obligation - other long-term liability 8,847 8,353 Total SERP obligation $ 12,708 $ 11,975 Equity securities without readily determinable fair value: We hold a total investment of $2.0 million in a privately-held company, including $0.5 million in equity securities without readily determinable fair value. The investment in equity securities without readily determinable fair value is included in the Other Assets line of the Condensed Consolidated Balance Sheets. See Note 11 - Fair Value of Notes to Condensed Consolidated Financial Statements for more information on the valuation of these securities. We do not hold a majority voting interest and are not the variable interest primary beneficiary of the privately-held company, thus consolidation is not required.

Note 13. Derivative Instruments

Note 13. Derivative Instruments	3 Months Ended
	Sep. 30, 2020
Derivative Instruments [Abstract]
Derivative Instruments and Hedging Activities Disclosure	Derivative Instruments We hold a total investment of $2.0 million in a privately-held company, including $1.5 million in stock warrants. The investment in stock warrants is accounted for as a derivative instrument and is included in the Other Assets line of the Condensed Consolidated Balance Sheets. The stock warrants are convertible into equity shares of the privately-held company upon achieving certain milestones. The value of the stock warrants will fluctuate primarily in relation to the value of the privately-held company's underlying securities, either providing an appreciation in value or potentially expiring with no value. During the quarter ended September 30, 2020, the change in fair value of the stock warrants was not significant. See Note 1 1 - Fair Value of Notes to Condensed Consolidated Financial Statements for more information on the valuation of these securities.

Note 14. Postemployment Benefit

Note 14. Postemployment Benefits	3 Months Ended
	Sep. 30, 2020
Postemployment Benefits [Abstract]
Postemployment Benefits Disclosure	Postemployment Benefits Our domestic employees participate in severance plans which provide severance benefits to eligible employees meeting the plans’ qualifications, primarily for involuntary termination without cause. The components of net periodic postemployment benefit cost applicable to our severance plans were as follows: Three Months Ended September 30 (Amounts in Thousands) 2020 2019 Service cost $ 122 $ 126 Interest cost 11 19 Amortization of actuarial income (112) (88) Net periodic benefit cost $ 21 $ 57 The benefit cost in the above table includes only normal recurring levels of severance activity, as estimated using an actuarial method. Unusual or non-recurring severance actions, such as restructuring actions, are not estimable using actuarial methods and are expensed in accordance with the applicable U.S. GAAP.

Note 15. Stock Compensation

Note 15. Stock Compensation	3 Months Ended
	Sep. 30, 2020
Stock Compensation Plan [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments	Stock CompensationStock-based compensation expense during the three months ended September 30, 2020 and 2019, was $0.9 million and $2.1 million, respectively. The total income tax benefit for stock compensation arrangements was $0.2 million during the three months ended September 30, 2020, and $0.6 million during the three months ended September 30, 2019. During fiscal year 2021, the following stock compensation was awarded to officers and other key employees and to members of the Board of Directors who are not employees. All awards were granted under the 2017 Stock Incentive Plan. For more information on stock compensation awards, refer to our Annual Report on Form 10-K for the fiscal year ended June 30, 2020. Type of Award Quarter Awarded Targeted Shares or Units Grant Date Fair Value (4) Relative Total Shareholder Return Performance Units (1) 1st Quarter 82,036 $11.35 Restricted Stock Units (2) 1st Quarter 165,529 $10.94 - $11.28 Unrestricted Shares (3) 1st Quarter 12,592 $11.02 (1) Performance units were awarded to key officers under the Company’s Relative Total Shareholder Return program. Vesting occurs at June 30, 2023. Participants will earn from 0% to 200% of the target award depending upon how the compound annual growth rate of Kimball International common stock ranks within the peer group at the end of the performance period. The maximum number of units that can be issued under these awards is 164,072. (2) Restricted stock units were awarded to officers and key employees. Vesting occurs at June 30, 2021, June 30, 2022, and June 30, 2023. Upon vesting, the outstanding number of restricted stock units and the value of dividends accumulated over the vesting period are converted to shares of common stock. (3) Unrestricted shares were awarded to non-employee members of the Board of Directors as consideration for service to Kimball International and do not have vesting periods, holding periods, restrictions on sale, or other restrictions. (4) The grant date fair value of the Relative Total Shareholder Return awards was calculated using a Monte Carlo simulation. This valuation technique includes estimating the movement of stock prices and the effects of volatility, interest rates, and dividends. The grant date fair value of the restricted stock units that receive dividends and unrestricted shares was based on the stock price at the date of the award.

Note 16. Variable Interest Enti

Note 16. Variable Interest Entities	3 Months Ended
	Sep. 30, 2020
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities Our involvement with variable interest entities (“VIEs”) is limited to situations in which we are not the primary beneficiary as we lack the power to direct the activities that most significantly impact the VIE’s economic performance. Thus, consolidation is not required. Our involvement with VIEs consists of an investment in a privately-held company consisting of equity securities without readily determinable fair value and stock warrants and notes receivable related to independent dealership financing. The equity securities without readily determinable fair value and stock warrants were valued at $0.5 million and $1.5 million, respectively, at both September 30, 2020 and June 30, 2020 and were included in the Other Assets line of the Condensed Consolidated Balance Sheets. For more information related to our investment in the privately-held company, see Note 11 - Fair Value of Notes to Condensed Consolidated Financial Statements. The carrying value of the notes receivable for independent dealership financing were $0.7 million at September 30, 2020 and $0.9 million at June 30, 2020 and were included on the Receivables and Other Assets lines of our Condensed Consolidated Balance Sheets. We have no obligation to provide additional funding to the VIEs, and thus our exposure and risk of loss related to the VIEs is limited to the carrying value of the investment and notes receivable. Financial support provided by Kimball International to the VIEs was limited to the items discussed above during the quarter ended September 30, 2020.

Note 17.0Subsequent Events

Note 17.0Subsequent Events	3 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Merger Agreement On November 4, 2020, we entered into an Agreement and Plan of Merger (“Merger”) with Poppin, Inc. The total consideration to be paid in connection with the Merger is approximately $110 million in cash at the closing of the Merger, subject to customary purchase price adjustments as provided in the Merger agreement, and a potential earn-out of up to an additional $70 million, subject to meeting certain financial targets as provided in the Merger agreement. The complete Merger agreement was filed as Exhibit 2.1 to our Current Report on Form 8-K filed on November 4, 2020.

Note 1. Basis of Presentation_2

Note 1. Basis of Presentation (Policies)	3 Months Ended
	Sep. 30, 2020
Basis of Presentation [Abstract]
Basis of Presentation	The accompanying unaudited Condensed Consolidated Financial Statements of Kimball International, Inc. (the “Company,” “Kimball International,” “we,” “us,” or “our”) have been prepared in accordance with the instructions to Form 10-Q. As such, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted, although we believe that the disclosures are adequate to make the information presented not misleading. Intercompany transactions and balances have been eliminated. Management believes the financial statements include all adjustments (consisting only of normal recurring adjustments) considered necessary to present fairly the financial statements for the interim periods. The results of operations for the interim periods shown in this report are not necessarily indicative of results for any future interim period or for the entire fiscal year. It is suggested that these financial statements be read in conjunction with the financial statements and the notes thereto included in our latest annual report on Form 10-K.

Note 2. Recent Accounting Pro_2

Note 2. Recent Accounting Pronouncements and Supplemental Information (Policies)	3 Months Ended
	Sep. 30, 2020
Recent Accounting Pronouncements and Supplemental Information [Abstract]
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements: In August 2018, the Financial Accounting Standards Board (“FASB”) issued guidance on a customer’s accounting for implementation, set-up, and other upfront costs incurred in a cloud computing arrangement that is hosted by the vendor. Under the new guidance, customers will apply the same criteria for capitalizing implementation costs as they would for an arrangement that has a software license. The guidance was adopted during our first quarter of fiscal year 2021 and was applied prospectively. The adoption of this guidance did not have a material effect on our condensed consolidated financial statements. In August 2018, the FASB issued guidance which changes the fair value measurement disclosure requirements. The guidance modifies and removes certain disclosures related to the fair value hierarchy, and adds new disclosure requirements such as disclosing the changes in unrealized gains and losses included in other comprehensive income for recurring Level 3 fair value measurements and disclosing the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The guidance was adopted during our first quarter of fiscal year 2021 and was applied retrospectively. The adoption of this guidance did not have a material effect on our condensed consolidated financial statements. In June 2016, the FASB issued guidance on the measurement of credit losses on financial instruments. Under the guidance, an entity recognizes as an allowance its estimate of expected credit losses, which the FASB believes will result in more timely recognition of such losses. The guidance is also intended to reduce the complexity by decreasing the number of credit impairment models that entities use to account for debt instruments. In May 2019, the FASB amended the new standard to allow entities to elect the fair value option on certain financial instruments that were previously recorded at amortized cost. In November 2019, the FASB amended the new standard to extend the disclosure relief for accrued interest receivable balances to additional relevant disclosures involving amortized cost basis. The guidance was adopted during our first quarter of fiscal year 2021 and did not have a material effect on our condensed consolidated financial statements.
Goodwill	Goodwill represents the difference between the purchase price and the related underlying tangible and intangible net asset fair values resulting from business acquisitions. Goodwill is assigned to and the fair value is tested at the reporting unit level. Annually, or if conditions indicate an earlier review is necessary, we may assess qualitative factors to determine if it is more likely than not that the fair value is less than its carrying amount. We also have the option to bypass the qualitative assessment and proceed directly to performing the quantitative goodwill impairment test which compares the carrying value of the reporting unit to the reporting unit’s fair value to identify impairment. Under the quantitative assessment, if the fair value of the reporting unit is less than the carrying value, goodwill is written down to its fair value. The fair value is established primarily using a discounted cash flow analysis and secondarily a market approach utilizing current industry information. The calculation of the fair value of the reporting unit considers current market conditions existing at the assessment date.
Impairment Or Disposal Of Intangible Assets	Intangible assets are reviewed for impairment when events or circumstances indicate that the carrying value may not be recoverable over the remaining lives of the assets.
Intangible Assets	Capitalized software is stated at cost less accumulated amortization and is amortized using the straight-line method. During the software application development stage, capitalized costs include external consulting costs, cost of software licenses, and internal payroll and payroll-related costs for employees who are directly associated with a software project. Upgrades and enhancements are capitalized if they result in added functionality which enable the software to perform tasks it was previously incapable of performing. Software maintenance, training, data conversion, and business process re-engineering costs are expensed in the period in which they are incurred. Trade names and non-compete agreements are amortized on a straight-line basis over their estimated useful lives. Capitalized customer relationships are amortized based on estimated attrition rates of customers.
Notes Receivables and Trade Accounts Receivable	Notes Receivable and Trade Accounts Receivable: Notes receivable and trade accounts receivable are recorded per the terms of the agreement or sale, and accrued interest is recognized when earned. We determine on a case-by-case basis the cessation of accruing interest, the resumption of accruing interest, the method of recording payments received on non accrual receivables, and the delinquency status for our limited number of notes receivable. Our policy for estimating the allowance for credit losses on trade accounts receivable and notes receivable considers several factors including historical write-off experience, overall customer credit quality in relation to general economic and market conditions, and specific customer account analyses to estimate the collectability of certain accounts. The specific customer account analyses considers such items as aging, credit worthiness, payment history, and historical bad debt experience. Trade accounts receivable and notes receivable are written off after exhaustive collection efforts occur and the receivable is deemed uncollectible. Our limited amount of notes receivable allows management to monitor the risks, credit quality indicators, collectability, and probability of impairment on an individual basis. Adjustments to the allowance for credit losses are recorded in selling and administrative expenses. Customary terms require payment within 30 days, with terms beyond 30 days being considered extended.
Non-operating Income and Expense, net	The non-operating income (expense), net line item includes the impact of such items as fair value adjustments on Supplemental Employee Retirement Plan (“SERP”) investments, amortization of actuarial income, bank charges, and other miscellaneous non-operating income and expense items that are not directly related to operations. The gain or loss on SERP investments is offset by a change in the SERP liability that is recognized in selling and administrative expenses.

Note 3. Restructuring (Policies

Note 3. Restructuring (Policies)	3 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Impairment or Disposal of Long-Lived Assets, Policy	We utilized available market prices and management estimates to determine the fair value of impaired assets. Restructuring is included in the Restructuring Expense line item on our Condensed Consolidated Statements of Income.

Note 5. Leases (Policies)

Note 5. Leases (Policies)	3 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Recognition of Asset and Liability for Lease [Policy Text Block]	Certain leases have terms that are dependent upon the occurrence of events, activities, or circumstances in lease agreements and incur variable lease expense driven by warehouse square footage utilized, property taxes assessed, and other non-lease component charges. Variable lease expense is presented as operating expense in our Condensed Consolidated Statements of Income and Comprehensive Income in the same line item as expense arising from fixed lease payments for operating leases.
Separation of Lease and Nonlease Components [Policy Text Block]	For all classes of assets, we do not separate non-lease components of a contract from the lease components to which they relate.
Short-term Leases [Policy Text Block]	We do not recognize a right-of-use asset or lease liability for short-term leases that have a lease term of twelve months or less.

Note 7. Income Taxes (Policies)

Note 7. Income Taxes (Policies)	3 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Tax, Policy [Policy Text Block]	In determining the quarterly provision for income taxes, we use an estimated annual effective tax rate which is based on expected annual income, statutory tax rates, and available tax planning opportunities in the various jurisdictions in which we operate. Unusual or infrequently occurring items are separately recognized in the quarter in which they occur.

Note 8. Inventories (Policies)

Note 8. Inventories (Policies)	3 Months Ended
	Sep. 30, 2020
Inventories [Abstract]
Inventory	For interim reporting, LIFO inventories are computed based on quantities as of the end of the quarter and interim changes in price levels. Changes in quantities and price levels are reflected in the interim financial statements in the period in which they occur, except in cases where LIFO inventory liquidations are expected to be reinstated by fiscal year end.

Note 10. Commitments and Cont_2

Note 10. Commitments and Contingent Liabilities (Policies)	3 Months Ended
	Sep. 30, 2020
Commitments and Contingent Liabilities [Abstract]
Product Warranties	We estimate product warranty liability at the time of sale based on historical repair or replacement cost trends in conjunction with the length of the warranty offered. Management refines the warranty liability periodically based on changes in historical cost trends and in certain cases where specific warranty issues become known.

Note 11. Fair Value (Policies)

Note 11. Fair Value (Policies)	3 Months Ended
	Sep. 30, 2020
Fair Value [Abstract]
Fair Value	We categorize assets and liabilities measured at fair value into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows: • Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities. • Level 2: Observable inputs other than those included in Level 1. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. • Level 3: Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability. There were no changes in the inputs or valuation techniques used to measure fair values compared to those disclosed in our Annual Report on Form 10-K for the fiscal year ended June 30, 2020.
Fair Value of Financial Instruments Policy Continued	The following methods and assumptions were used to measure fair value: Financial Instrument Level Valuation Technique/Inputs Used Cash Equivalents: Money market funds 1 Market - Quoted market prices Available-for-sale securities: Secondary market certificates of deposit 2 Market - Based on market data which use evaluated pricing models and incorporate available trade, bid, and other market information. Available-for-sale securities: U.S. Treasury securities 1 Market - Quoted market prices Trading securities: Mutual funds held in nonqualified SERP 1 Market - Quoted market prices Derivative Assets: Stock warrants 3 Market - The privately-held company is in a start-up phase. The pricing of recent purchases or sales of the investment are considered, if any, as well as positive and negative qualitative evidence, in the assessment of fair value. The value of the stock warrants fluctuates primarily in relation to the value of the privately-held company's underlying securities.
Fair Value Measurement, Non-recurring, Policy [Policy Text Block]	Certain assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis but are subject to fair value adjustments when events or circumstances indicate a significant adverse effect on the fair value of the asset. Assets that are written down to fair value when impaired are not subsequently adjusted to fair value unless further impairment occurs. Non-recurring Fair Value Adjustment Level Valuation Technique/Inputs Used Impairment of Right of Use Lease Assets and Related Asset Groups 3 Income - Based on a valuation model that measures the present value of remaining lease payments less estimated sublease income at a discount rate that captures the risk associated with the future cash flows.
Fair Value of Financial Instruments Not Carried at Fair Value	Financial instruments that are not reflected in the Condensed Consolidated Balance Sheets at fair value that have carrying amounts which approximate fair value include the following: Financial Instrument Level Valuation Technique/Inputs Used Notes receivable 2 Market - Price approximated based on the assumed collection of receivables in the normal course of business, taking into account the customer’s non-performance risk. Equity securities without readily determinable fair value 3 Cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Impairment is assessed qualitatively.

Note 12. Investments (Policies)

Note 12. Investments (Policies)	3 Months Ended
	Sep. 30, 2020
Investments [Abstract]
Investment, Policy [Policy Text Block]	Our investment policy dictates that U.S. Treasury securities must be investment grade quality.

Note 15. Stock Compensation (Po

Note 15. Stock Compensation (Policies)	3 Months Ended
	Sep. 30, 2020
Stock Compensation Plan [Abstract]
Share-based Payment Arrangement [Policy Text Block]	The grant date fair value of the Relative Total Shareholder Return awards was calculated using a Monte Carlo simulation. This valuation technique includes estimating the movement of stock prices and the effects of volatility, interest rates, and dividends. The grant date fair value of the restricted stock units that receive dividends and unrestricted shares was based on the stock price at the date of the award.

Note 2. Recent Accounting Pro_3

Note 2. Recent Accounting Pronouncements and Supplemental Information (Tables)	3 Months Ended
	Sep. 30, 2020
Recent Accounting Pronouncements and Supplemental Information [Abstract]
Schedule of Finite-Lived Intangible Assets	A summary of intangible assets subject to amortization is as follows: September 30, 2020 June 30, 2020 (Amounts in Thousands) Cost Accumulated Net Value Cost Accumulated Net Value Capitalized Software $ 40,643 $ 33,340 $ 7,303 $ 43,671 $ 37,566 $ 6,105 Customer Relationships 7,050 2,054 4,996 7,050 1,871 5,179 Trade Names 3,570 1,041 2,529 3,570 952 2,618 Non-Compete Agreements 100 58 42 100 53 47 Other Intangible Assets $ 51,363 $ 36,493 $ 14,870 $ 54,391 $ 40,442 $ 13,949
Components of Non-operating income (expense), net	Components of the Non-operating income (expense), net line, were: Three Months Ended September 30 (Amounts in Thousands) 2020 2019 Gain on Supplemental Employee Retirement Plan Investments $ 758 $ 58 Other (15) (57) Non-operating income, net $ 743 $ 1

Note 3. Restructuring (Tables)

Note 3. Restructuring (Tables)	3 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs Phase 1	A summary of the charges recorded in connection with phase 1 of the transformation restructuring plan is as follows: Three Months Ended Charges Incurred to Date September 30 (Amounts in Thousands) 2020 2019 Cash-related restructuring charges: Severance and other employee related costs $ 62 $ 1,206 $ 2,884 Facility exit costs and other cash charges 331 469 2,371 Total cash-related restructuring charges $ 393 $ 1,675 $ 5,255 Non-cash charges: Transition stock compensation — 470 725 Impairment of assets 332 2,205 4,022 Other non-cash charges 38 — 187 Total non-cash charges $ 370 $ 2,675 $ 4,934 Total charges $ 763 $ 4,350 $ 10,189
Restructuring and Related Costs Phase 2	A summary of the charges recorded in connection with phase 2 of the transformation restructuring plan is as follows: Three Months Ended September 30, (Amounts in Thousands) 2020 Cash-related restructuring charges: Severance and other employee related costs $ 2,890 Facility exit costs and other cash charges 127 Total cash-related restructuring charges $ 3,017 Non-cash charges: Impairment of assets 460 Total charges $ 3,477
Accrued Restructuring Charges Activity Phase 1	A summary of the current period activity in accrued restructuring related to phase 1 of the transformation restructuring plan is as follows: (Amounts in Thousands) Severance and other employee related costs Facility exit and other costs Total Balance at June 30, 2020 $ 167 $ 65 $ 232 Additions charged to expense 62 — 62 Cash payments charged against reserve (212) (54) (266) Balance at September 30, 2020 $ 17 $ 11 $ 28
Accrued Restructuring Charges Activity Phase 2	A summary of the current period activity in accrued restructuring related to phase 2 of the transformation restructuring plan is as follows: (Amounts in Thousands) Severance and other employee related costs Balance at June 30, 2020 $ — Additions charged to expense 2,890 Cash payments charged against reserve (2,087) Balance at September 30, 2020 $ 803

Note 4. Revenue (Tables)

Note 4. Revenue (Tables)	3 Months Ended
	Sep. 30, 2020
Revenue Recognition [Abstract]
Disaggregation of Revenue [Table Text Block]	The following table provides information about revenue by end market: Three Months Ended September 30 (Amounts in Millions) 2020 2019 Workplace $ 95.3 $ 125.8 Health 20.6 28.9 Hospitality 32.0 46.8 Total Net Sales $ 147.9 $ 201.5

Note 5. Leases (Tables)

Note 5. Leases (Tables)	3 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Lease, Cost [Table Text Block]	The components of our lease expenses are as follows: Three Months Ended September 30 (Amounts in Millions) 2020 2019 Operating lease expense $ 0.8 $ 0.8 Variable lease expense 0.7 0.7 Total lease expense $ 1.5 $ 1.5
Supplemental cash flow and other information related to leases [Table Text Block]	Supplemental cash flow and other information related to leases are as follows: Three Months Ended September 30 (Amounts in Millions) 2020 2019 Cash flow information: Operating lease payments impacting lease liability $ 1.2 $ 1.2 Leased assets obtained in exchange for operating lease liabilities $ — $ 0.1 As of September 30 (Amounts in Millions) 2020 2019 Other information: Weighted-average remaining term (in years) 5.4 6.1 Weighted-average discount rate 4.7 % 4.6 %
Future Minimum Lease Payments [Table Text Block]	The following table summarizes the future minimum lease payments as of September 30, 2020: Fiscal Year Ended (Amounts in Millions) June 30 (1) 2021 $ 3.8 2022 4.7 2023 4.1 2024 3.4 2025 3.1 Thereafter 3.9 Total lease payments $ 23.0 Less interest 2.7 Present value of lease liabilities $ 20.3

Note 6. Earnings Per Share (Tab

Note 6. Earnings Per Share (Tables)	3 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended September 30 (Amounts in Thousands, Except for Per Share Data) 2020 2019 Net Income $ 5,386 $ 11,384 Average Shares Outstanding for Basic EPS Calculation 36,974 36,937 Dilutive Effect of Average Outstanding Compensation Awards 246 310 Average Shares Outstanding for Diluted EPS Calculation 37,220 37,247 Basic Earnings Per Share $ 0.15 $ 0.31 Diluted Earnings Per Share $ 0.14 $ 0.31

Note 8. Inventories (Tables)

Note 8. Inventories (Tables)	3 Months Ended
	Sep. 30, 2020
Inventories [Abstract]
Schedule of Inventory, Current	Inventory components were as follows: (Amounts in Thousands) September 30, June 30, Finished products $ 25,099 $ 29,081 Work-in-process 1,247 1,648 Raw materials 32,119 35,295 Total FIFO inventory 58,465 66,024 LIFO reserve (16,320) (16,167) Total inventory $ 42,145 $ 49,857

Note 9. Accumulated Other Com_2

Note 9. Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income	During the three months ended September 30, 2020 and 2019, the changes in the balances of each component of Accumulated Other Comprehensive Income, net of tax, were as follows: Accumulated Other Comprehensive Income (Amounts in Thousands) Unrealized Investment Gain (Loss) Postemployment Benefits Net Actuarial Gain (Loss) Accumulated Other Comprehensive Income Balance at June 30, 2020 $ 32 $ 2,105 $ 2,137 Other comprehensive income (loss) before reclassifications (18) 132 114 Reclassification to (earnings) loss — (83) (83) Net current-period other comprehensive income (loss) (18) 49 31 Balance at September 30, 2020 $ 14 $ 2,154 $ 2,168 Balance at June 30, 2019 $ 23 $ 1,914 $ 1,937 Other comprehensive income (loss) before reclassifications (6) 110 104 Reclassification to (earnings) loss — (65) (65) Net current-period other comprehensive income (loss) (6) 45 39 Balance at September 30, 2019 $ 17 $ 1,959 $ 1,976
Reclassifications from Accumulated Other Comprehensive Income	The following reclassifications were made from Accumulated Other Comprehensive Income to the Condensed Consolidated Statements of Income: Reclassifications from Accumulated Other Comprehensive Income Three Months Ended Affected Line Item in the Condensed Consolidated Statements of Income September 30 (Amounts in Thousands) 2020 2019 Postemployment Benefits Amortization of Actuarial Gain (1) $ 112 $ 88 Non-operating income (expense), net (29) (23) Benefit (Provision) for Income Taxes Total Reclassifications for the Period $ 83 $ 65 Net Income Amounts in parentheses indicate reductions to income. (1) See Note 1 4 - Postemployment Benefits

Note 10. Commitments and Cont_3

Note 10. Commitments and Contingent Liabilities (Tables)	3 Months Ended
	Sep. 30, 2020
Commitments and Contingent Liabilities [Abstract]
Schedule of Product Warranty Liability	Changes in the product warranty accrual for the three months ended September 30, 2020 and 2019 were as follows: Three Months Ended September 30 (Amounts in Thousands) 2020 2019 Product Warranty Liability at the beginning of the period $ 3,190 $ 2,238 Additions to warranty accrual (including changes in estimates) 427 278 Settlements made (in cash or in kind) (572) (370) Product Warranty Liability at the end of the period $ 3,045 $ 2,146

Note 11. Fair Value (Tables)

Note 11. Fair Value (Tables)	3 Months Ended
	Sep. 30, 2020
Fair Value [Abstract]
Fair Value Measurements, Recurring, Valuation Techniques	The following methods and assumptions were used to measure fair value: Financial Instrument Level Valuation Technique/Inputs Used Cash Equivalents: Money market funds 1 Market - Quoted market prices Available-for-sale securities: Secondary market certificates of deposit 2 Market - Based on market data which use evaluated pricing models and incorporate available trade, bid, and other market information. Available-for-sale securities: U.S. Treasury securities 1 Market - Quoted market prices Trading securities: Mutual funds held in nonqualified SERP 1 Market - Quoted market prices Derivative Assets: Stock warrants 3 Market - The privately-held company is in a start-up phase. The pricing of recent purchases or sales of the investment are considered, if any, as well as positive and negative qualitative evidence, in the assessment of fair value. The value of the stock warrants fluctuates primarily in relation to the value of the privately-held company's underlying securities.
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	As of September 30, 2020 and June 30, 2020, the fair values of financial assets that are measured at fair value on a recurring basis using the market or income approach are categorized as follows: September 30, 2020 (Amounts in Thousands) Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 98,571 $ — $ — $ 98,571 Available-for-sale securities: Secondary market certificates of deposit — 3,519 — 3,519 Available-for-sale securities: U.S. Treasury securities 10,000 — — 10,000 Trading Securities: Mutual funds in nonqualified SERP 12,708 — — 12,708 Derivatives: Stock warrants — — 1,500 1,500 Total assets at fair value $ 121,279 $ 3,519 $ 1,500 $ 126,298 June 30, 2020 (Amounts in Thousands) Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 91,035 $ — $ — $ 91,035 Available-for-sale securities: Secondary market certificates of deposit — 5,294 — 5,294 Trading Securities: Mutual funds in nonqualified SERP 11,975 — — 11,975 Derivatives: Stock warrants — — 1,500 1,500 Total assets at fair value $ 103,010 $ 5,294 $ 1,500 $ 109,804
Non-recurring Fair Value Adjustment Technique [Table Text Block]	Non-recurring Fair Value Adjustment Level Valuation Technique/Inputs Used Impairment of Right of Use Lease Assets and Related Asset Groups 3 Income - Based on a valuation model that measures the present value of remaining lease payments less estimated sublease income at a discount rate that captures the risk associated with the future cash flows.
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques	Financial instruments that are not reflected in the Condensed Consolidated Balance Sheets at fair value that have carrying amounts which approximate fair value include the following: Financial Instrument Level Valuation Technique/Inputs Used Notes receivable 2 Market - Price approximated based on the assumed collection of receivables in the normal course of business, taking into account the customer’s non-performance risk. Equity securities without readily determinable fair value 3 Cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Impairment is assessed qualitatively.

Note 12. Investments (Tables)

Note 12. Investments (Tables)	3 Months Ended
	Sep. 30, 2020
Investments [Abstract]
Schedule of Contractual Maturities on Investments	The contractual maturities of our investment portfolio were as follows: September 30, 2020 (Amounts in Thousands) Certificates of Deposit U.S. Treasury Securities Within one year $ 3,519 $ 10,000 After one year through two years — — Total Fair Value $ 3,519 $ 10,000
Unrealized Gain (Loss) on Investments	September 30, 2020 (Amounts in Thousands) Certificates of Deposit U.S. Treasury Securities Amortized cost basis $ 3,500 $ 10,000 Unrealized holding gains 19 — Unrealized holding losses — — Fair Value $ 3,519 $ 10,000 June 30, 2020 (Amounts in Thousands) Certificates of Deposit U.S. Treasury Securities Amortized cost basis $ 5,250 $ — Unrealized holding gains 44 — Unrealized holding losses — — Fair Value $ 5,294 $ —
Trading Securities (and Certain Trading Assets)	SERP asset and liability balances were as follows: (Amounts in Thousands) September 30, June 30, SERP investments - current asset $ 3,861 $ 3,622 SERP investments - other long-term asset 8,847 8,353 Total SERP investments $ 12,708 $ 11,975 SERP obligation - current liability $ 3,861 $ 3,622 SERP obligation - other long-term liability 8,847 8,353 Total SERP obligation $ 12,708 $ 11,975

Note 14. Postemployment Benef_2

Note 14. Postemployment Benefits (Tables)	3 Months Ended
	Sep. 30, 2020
Postemployment Benefits [Abstract]
Schedule of Changes in Projected Benefit Obligations	The components of net periodic postemployment benefit cost applicable to our severance plans were as follows: Three Months Ended September 30 (Amounts in Thousands) 2020 2019 Service cost $ 122 $ 126 Interest cost 11 19 Amortization of actuarial income (112) (88) Net periodic benefit cost $ 21 $ 57

Note 15. Stock Compensation (Ta

Note 15. Stock Compensation (Tables)	3 Months Ended
	Sep. 30, 2020
Stock Compensation Plan [Abstract]
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value	Type of Award Quarter Awarded Targeted Shares or Units Grant Date Fair Value (4) Relative Total Shareholder Return Performance Units (1) 1st Quarter 82,036 $11.35 Restricted Stock Units (2) 1st Quarter 165,529 $10.94 - $11.28 Unrestricted Shares (3) 1st Quarter 12,592 $11.02 (1) Performance units were awarded to key officers under the Company’s Relative Total Shareholder Return program. Vesting occurs at June 30, 2023. Participants will earn from 0% to 200% of the target award depending upon how the compound annual growth rate of Kimball International common stock ranks within the peer group at the end of the performance period. The maximum number of units that can be issued under these awards is 164,072. (2) Restricted stock units were awarded to officers and key employees. Vesting occurs at June 30, 2021, June 30, 2022, and June 30, 2023. Upon vesting, the outstanding number of restricted stock units and the value of dividends accumulated over the vesting period are converted to shares of common stock. (3) Unrestricted shares were awarded to non-employee members of the Board of Directors as consideration for service to Kimball International and do not have vesting periods, holding periods, restrictions on sale, or other restrictions. (4) The grant date fair value of the Relative Total Shareholder Return awards was calculated using a Monte Carlo simulation. This valuation technique includes estimating the movement of stock prices and the effects of volatility, interest rates, and dividends. The grant date fair value of the restricted stock units that receive dividends and unrestricted shares was based on the stock price at the date of the award.

Note 2. Recent Accounting Pro_4

Note 2. Recent Accounting Pronouncements and Supplemental Information - Goodwill and Other Intangible Assets Textuals (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Goodwill, Impairment Loss	$ 0
Goodwill	11,160,000		$ 11,160,000
Amortization	653,000	$ 521,000
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	2,170,000
Finite-Lived Intangible Asset, Expected Amortization, Year One	2,460,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two	2,068,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	1,806,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four	1,649,000
Finite Lived Intangible Assets Amortization Expense After Year Four	4,717,000
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 0
Software and Software Development Costs | Minimum
Finite-Lived Intangible Asset, Useful Life	2 years
Software and Software Development Costs | Maximum
Finite-Lived Intangible Asset, Useful Life	10 years
Customer Relationships
Finite-Lived Intangible Asset, Useful Life	20 years
Trade Names
Finite-Lived Intangible Asset, Useful Life	10 years
Non-Compete Agreements
Finite-Lived Intangible Asset, Useful Life	5 years

Note 2. Recent Accounting Pro_5

Note 2. Recent Accounting Pronouncements and Supplemental Information - Textuals (Details)	3 Months Ended
	Sep. 30, 2020
Accounts Receivable, Customary Payment Terms	30 days
Accounts Receivable, Days Beyond Which Terms Are Considered Extended Payment Terms	30 days

Note 2. Recent Accounting Pro_6

Note 2. Recent Accounting Pronouncements and Supplemental Information - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Finite-Lived Intangible Assets
Finite-Lived Intangible Assets, Cost	$ 51,363	$ 54,391
Intangible Assets Accumulated Amortization	36,493	40,442
Finite-Lived Intangible Assets, Net Value	14,870	13,949
Capitalized Software
Finite-Lived Intangible Assets
Finite-Lived Intangible Assets, Cost	40,643	43,671
Intangible Assets Accumulated Amortization	33,340	37,566
Finite-Lived Intangible Assets, Net Value	7,303	6,105
Customer Relationships
Finite-Lived Intangible Assets
Finite-Lived Intangible Assets, Cost	7,050	7,050
Intangible Assets Accumulated Amortization	2,054	1,871
Finite-Lived Intangible Assets, Net Value	4,996	5,179
Trade Names
Finite-Lived Intangible Assets
Finite-Lived Intangible Assets, Cost	3,570	3,570
Intangible Assets Accumulated Amortization	1,041	952
Finite-Lived Intangible Assets, Net Value	2,529	2,618
Non-Compete Agreements
Finite-Lived Intangible Assets
Finite-Lived Intangible Assets, Cost	100	100
Intangible Assets Accumulated Amortization	58	53
Finite-Lived Intangible Assets, Net Value	$ 42	$ 47

Note 2. Recent Accounting Pro_7

Note 2. Recent Accounting Pronouncements and Supplemental Information - Components of Non-operating income (expense), net (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Gain on Supplemental Employee Retirement Plan Investments	$ 758	$ 58
Other	(15)	(57)
Other income expense net	$ 743	$ 1

Note 3. Restructuring - Restruc

Note 3. Restructuring - Restructuring Textuals (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Restructuring Expense and Other Related Items
Restructuring Expense	$ 4,240	$ 4,350
Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring Expense	763	$ 4,350
Restructuring and Related Cost, Expected Cost	$ 11,100
Percentage of Restructuring Costs Expected in Cash	55.00%
Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring Expense	$ 3,477
Effect on Future Earnings, Amount	$ 18,000
Percentage of Restructuring Costs Expected in Cash	75.00%
Severance and Other Employee Related Costs | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring and Related Cost, Expected Cost	$ 3,600
Facility Closing | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring and Related Cost, Expected Cost	3,500
Lease asset impairment | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring and Related Cost, Expected Cost	4,000
Minimum | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and Related Cost, Expected Cost	17,000
Restructuring and Related Cost Expected Cost, Fiscal 2021	13,000
Minimum | Severance and Other Employee Related Costs | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and Related Cost, Expected Cost	8,000
Minimum | Facility Closing | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and Related Cost, Expected Cost	4,200
Minimum | Lease asset impairment | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and Related Cost, Expected Cost	4,800
Maximum | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and Related Cost, Expected Cost	18,000
Restructuring and Related Cost Expected Cost, Fiscal 2021	14,000
Maximum | Severance and Other Employee Related Costs | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and Related Cost, Expected Cost	8,400
Maximum | Facility Closing | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and Related Cost, Expected Cost	4,400
Maximum | Lease asset impairment | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and Related Cost, Expected Cost	$ 5,200

Note 3. Restructuring - Charges

Note 3. Restructuring - Charges related to Transformation Restructuring Plan (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Restructuring Expense and Other Related Items
Restructuring Expense	$ 4,240	$ 4,350
Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring Expense	763	4,350
Restructuring and Related Cost, Cost Incurred to Date	10,189
Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring Expense	3,477
Cash Related Restructuring Expense | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring Expense	393	1,675
Restructuring and Related Cost, Cost Incurred to Date	5,255
Cash Related Restructuring Expense | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring Expense	3,017
Cash Related Restructuring Expense | Severance and Other Employee Related Costs | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring Expense	62	1,206
Restructuring and Related Cost, Cost Incurred to Date	2,884
Cash Related Restructuring Expense | Severance and Other Employee Related Costs | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring Expense	2,890
Cash Related Restructuring Expense | Facility Closing | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring Expense	331	469
Restructuring and Related Cost, Cost Incurred to Date	2,371
Cash Related Restructuring Expense | Facility Closing | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring Expense	127
Non-Cash Related Restructuring Expense | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring Expense	370	2,675
Restructuring and Related Cost, Cost Incurred to Date	4,934
Non-Cash Related Restructuring Expense | Transition Equity Compensation | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring Expense	0	470
Restructuring and Related Cost, Cost Incurred to Date	725
Non-Cash Related Restructuring Expense | Lease asset impairment | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring Expense	332	2,205
Restructuring and Related Cost, Cost Incurred to Date	4,022
Non-Cash Related Restructuring Expense | Lease asset impairment | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring Expense	460
Non-Cash Related Restructuring Expense | Other non-cash charges | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring Expense	38	$ 0
Restructuring and Related Cost, Cost Incurred to Date	$ 187

Note 3. Restructuring - Current

Note 3. Restructuring - Current Period activity in accrued restructuring related to Transformation Restructuring Reserve (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Additions charged to expense	$ 62
Cash payments charged against reserve	(266)
Restructuring Reserve, Current	28	$ 232
Severance and Other Employee Related Costs | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Additions charged to expense	62
Cash payments charged against reserve	(212)
Restructuring Reserve, Current	17	167
Severance and Other Employee Related Costs | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Additions charged to expense	2,890
Cash payments charged against reserve	(2,087)
Restructuring Reserve, Current	803	0
Other Charges | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Additions charged to expense	0
Cash payments charged against reserve	(54)
Restructuring Reserve, Current	$ 11	$ 65

Note 4. Revenue - Disaggregatio

Note 4. Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Net Sales	$ 147,944	$ 201,452
Workplace
Net Sales	95,300	125,800
Health
Net Sales	20,600	28,900
Hospitality
Net Sales	$ 32,000	$ 46,800

Note 4. Revenue - Revenue Textu

Note 4. Revenue - Revenue Textuals (Details) $ in Millions	3 Months Ended
	Sep. 30, 2020USD ($)
Contract with Customer, Liability, Revenue Recognized	$ 14.5

Note 5. Leases - Components of

Note 5. Leases - Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating lease expense	$ 0.8	$ 0.8
Variable lease expense	0.7	0.7
Total lease expense	$ 1.5	$ 1.5

Note 5. Leases - Supplemental C

Note 5. Leases - Supplemental Cash Flow relating to Leases (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease payments impacting lease liability	$ 1.2	$ 1.2
Leased assets obtained in exchange for operating lease liabilities	$ 0	$ 0.1
Operating Lease, Weighted Average Remaining Lease Term	5 years 4 months 24 days	6 years 1 month 6 days
Operating Lease, Weighted Average Discount Rate, Percent	4.70%	4.60%

Note 5. Leases - Summary of fut

Note 5. Leases - Summary of future lease payments (Details) $ in Millions	Sep. 30, 2020USD ($)
Leases [Abstract]
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	$ 3.8
Lessee, Operating Lease, Liability, to be Paid, Year One	4.7
Lessee, Operating Lease, Liability, Payments, Due Year Two	4.1
Lessee, Operating Lease, Liability, Payments, Due Year Three	3.4
Lessee, Operating Lease, Liability, Payments, Due Year Four	3.1
Lessee, Operating Lease, Liability, Payments, Due after Year Four	3.9
Lessee, Operating Lease, Liability, Payments, Due	23
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	2.7
Operating Lease, Liability	$ 20.3

Note 5. Leases - Leases Textual

Note 5. Leases - Leases Textuals (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Finance Lease, Liability	$ 0
Operating Lease, Impairment Loss, Right-of-Use Asset	$ 200,000	$ 2,200,000

Note 6. Earnings Per Share Earn

Note 6. Earnings Per Share Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Net income	$ 5,386	$ 11,384
Average Shares Outstanding for Basic EPS Calculation	36,974	36,937
Dilutive Effect of Average Outstanding Compensation Awards	246	310
Average Shares Outstanding for Diluted EPS Calculation	37,220	37,247
Basic Earnings Per Share	$ 0.15	$ 0.31
Diluted Earnings Per Share	$ 0.14	$ 0.31

Note 7. Income Taxes - Textuals

Note 7. Income Taxes - Textuals (Details)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Effective Income Tax Rate Reconciliation, Percent	25.70%	27.40%

Note 8. Inventories - Inventory

Note 8. Inventories - Inventory Components (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Finished products	$ 25,099	$ 29,081
Work-in-process	1,247	1,648
Raw materials	32,119	35,295
Total FIFO inventory	58,465	66,024
LIFO reserve	(16,320)	(16,167)
Total inventory	$ 42,145	$ 49,857

Note 9. Accumulated Other Com_3

Note 9. Accumulated Other Comprehensive Income - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income at beginning of period	$ 2,137	$ 1,937
Other Comprehensive Income (Loss) before Reclassifications	114	104
Reclassification to (earnings) loss	(83)	(65)
Net current-period other comprehensive income (loss)	31	39
Accumulated Other Comprehensive Income at end of period	2,168	1,976
Unrealized Investment Gain (Loss)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income at beginning of period	32	23
Other Comprehensive Income (Loss) before Reclassifications	(18)	(6)
Reclassification to (earnings) loss	0	0
Net current-period other comprehensive income (loss)	(18)	(6)
Accumulated Other Comprehensive Income at end of period	14	17
Postemployment Benefits, Net Actuarial Gain (Loss)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income at beginning of period	2,105	1,914
Other Comprehensive Income (Loss) before Reclassifications	132	110
Reclassification to (earnings) loss	(83)	(65)
Net current-period other comprehensive income (loss)	49	45
Accumulated Other Comprehensive Income at end of period	$ 2,154	$ 1,959

Note 9. Accumulated Other Com_4

Note 9. Accumulated Other Comprehensive Income - Reclassifications from Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Reclassification Adjustment from Accumulated Other Comprehensive Income
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, Tax	$ (29)	$ (23)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax	(112)	(88)
Total Reclassification for the Period from AOCI	83	65
Non-operating income (expense), net
Reclassification Adjustment from Accumulated Other Comprehensive Income
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax	112	88
Benefit (Provision) for Income Taxes
Reclassification Adjustment from Accumulated Other Comprehensive Income
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, Tax	(29)	(23)
Net Income
Reclassification Adjustment from Accumulated Other Comprehensive Income
Total Reclassification for the Period from AOCI	$ 83	$ 65

Note 10. Commitments and Cont_4

Note 10. Commitments and Contingent Liabilities - Commitments and Contingent Liabilities Textuals (Details) $ in Thousands	Sep. 30, 2020USD ($)
Guarantor Obligations
Performance Bonds, Maximum Exposure	$ 8,700
Financial Standby Letter of Credit
Guarantor Obligations
Letters of Credit Outstanding, Maximum Exposure	1,600
Standby Letters of Credit
Guarantor Obligations
Loss Contingency Accrual, at Carrying Value	$ 0

Note 10. Commitments and Cont_5

Note 10. Commitments and Contingent Liabilities - Product Warranty (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Product Warranty Liability at the beginning of the period	$ 3,190	$ 2,238
Additions to warranty accrual (including changes in estimates)	427	278
Settlements made (in cash or in kind)	(572)	(370)
Product Warranty Liability at the end of the period	$ 3,045	$ 2,146

Note 11. Fair Value - Textuals

Note 11. Fair Value - Textuals (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	$ 0
Fair Value, Transfers Between Levels, Amount	0
Operating Lease, Impairment Loss	200,000	$ 2,200,000
Investment Owned, at Cost	2,000,000
Fair Value, Purchases of Level 3 Assets	0
Fair Value, Sales of Level 3 Assets	0
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Cost Method Investments	500,000
Warrant | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative Asset, Fair Value, Gross Asset	1,500,000		$ 1,500,000
Warrant | Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative Asset, Fair Value, Gross Asset	0		0
Warrant | Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative Asset, Fair Value, Gross Asset	0		0
Warrant | Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative Asset, Fair Value, Gross Asset	1,500,000		$ 1,500,000
Not Designated as Hedging Instrument | Other Assets | Warrant | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative Asset, Fair Value, Gross Asset	$ 1,500,000

Note 11. Fair Value - Recurring

Note 11. Fair Value - Recurring Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Recurring Fair Value Measurements:
Trading Securities: Mutual funds in nonqualified SERP	$ 12,708	$ 11,975
Fair Value, Measurements, Recurring
Recurring Fair Value Measurements:
Total assets at fair value	126,298	109,804
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Recurring Fair Value Measurements:
Total assets at fair value	121,279	103,010
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Recurring Fair Value Measurements:
Total assets at fair value	3,519	5,294
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Recurring Fair Value Measurements:
Total assets at fair value	1,500	1,500
Warrant | Fair Value, Measurements, Recurring
Recurring Fair Value Measurements:
Derivatives: Stock Warrants	1,500	1,500
Warrant | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Recurring Fair Value Measurements:
Derivatives: Stock Warrants	0	0
Warrant | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Recurring Fair Value Measurements:
Derivatives: Stock Warrants	0	0
Warrant | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Recurring Fair Value Measurements:
Derivatives: Stock Warrants	1,500	1,500
Money Market Funds | Fair Value, Measurements, Recurring
Recurring Fair Value Measurements:
Cash equivalents	98,571	91,035
Money Market Funds | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Recurring Fair Value Measurements:
Cash equivalents	98,571	91,035
Money Market Funds | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Recurring Fair Value Measurements:
Cash equivalents	0	0
Money Market Funds | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Recurring Fair Value Measurements:
Cash equivalents	0	0
Certificates of Deposit
Recurring Fair Value Measurements:
Available-for-sale Securities	3,519	5,294
Certificates of Deposit | Fair Value, Measurements, Recurring
Recurring Fair Value Measurements:
Available-for-sale Securities	3,519	5,294
Certificates of Deposit | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Recurring Fair Value Measurements:
Available-for-sale Securities	0	0
Certificates of Deposit | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Recurring Fair Value Measurements:
Available-for-sale Securities	3,519	5,294
Certificates of Deposit | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Recurring Fair Value Measurements:
Available-for-sale Securities	0	0
U.S. Treasury Securities
Recurring Fair Value Measurements:
Available-for-sale Securities	10,000	0
U.S. Treasury Securities | Fair Value, Measurements, Recurring
Recurring Fair Value Measurements:
Available-for-sale Securities	10,000
U.S. Treasury Securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Recurring Fair Value Measurements:
Available-for-sale Securities	10,000
U.S. Treasury Securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Recurring Fair Value Measurements:
Available-for-sale Securities	0
U.S. Treasury Securities | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Recurring Fair Value Measurements:
Available-for-sale Securities	0
Mutual Fund | Fair Value, Measurements, Recurring
Recurring Fair Value Measurements:
Trading Securities: Mutual funds in nonqualified SERP	12,708	11,975
Mutual Fund | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Recurring Fair Value Measurements:
Trading Securities: Mutual funds in nonqualified SERP	12,708	11,975
Mutual Fund | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Recurring Fair Value Measurements:
Trading Securities: Mutual funds in nonqualified SERP	0	0
Mutual Fund | Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Recurring Fair Value Measurements:
Trading Securities: Mutual funds in nonqualified SERP	$ 0	$ 0

Note 12. Investments - Schedule

Note 12. Investments - Schedule of Contractual Maturities on Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Certificates of Deposit
Schedule of Investments [Line Items]
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value	$ 3,519
Available-for-sale Securities, Debt Maturities, Rolling Year Two	0
Available-for-sale Securities	3,519	$ 5,294
U.S. Treasury Securities
Schedule of Investments [Line Items]
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value	10,000
Available-for-sale Securities, Debt Maturities, Rolling Year Two	0
Available-for-sale Securities	$ 10,000	$ 0

Note 12. Investments - Unrealiz

Note 12. Investments - Unrealized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Certificates of Deposit
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	$ 3,500	$ 5,250
Available-for-sale Securities, Unrealized holding gains	19	44
Available-for-sale Securities, Unrealized holding losses	0	0
Fair Value, Available-for-sale Securities	3,519	5,294
U.S. Treasury Securities
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Amortized Cost Basis	10,000	0
Available-for-sale Securities, Unrealized holding gains	0	0
Available-for-sale Securities, Unrealized holding losses	0	0
Fair Value, Available-for-sale Securities	$ 10,000	$ 0

Note 12. Investments - Suppleme

Note 12. Investments - Supplemental Employee Retirement Investments Textuals (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Schedule of Trading Securities and Other Trading Assets
Trading Securities, Change in net unrealized holding gains (losses)	$ 679	$ 24

Note 12. Investments - Supple_2

Note 12. Investments - Supplemental Employee Retirement Plan Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Schedule of Trading Securities and Other Trading Assets
SERP investments	$ 12,708	$ 11,975
SERP obligation	12,708	11,975
Short-term Investments
Schedule of Trading Securities and Other Trading Assets
SERP investments	3,861	3,622
SERP obligation	3,861	3,622
Other Long-term Investments
Schedule of Trading Securities and Other Trading Assets
SERP investments	8,847	8,353
SERP obligation	$ 8,847	$ 8,353

Note 12. Investments - Investme

Note 12. Investments - Investments - Equity securities without readily determinable fair value Textuals (Details)	3 Months Ended
	Sep. 30, 2020USD ($)
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 0
Trading Securities, Realized Gain (Loss)	0
Investment Owned, at Cost	2,000,000
Other Assets | Preferred Stock
Equity securities without readily determinable fair value	$ 500,000

Note 13. Derivative Instrumen_2

Note 13. Derivative Instruments - Textuals (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020
Derivative [Line Items]
Investment Owned, at Cost	$ 2,000
Fair Value, Measurements, Recurring | Warrant
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	1,500	$ 1,500
Fair Value, Measurements, Recurring | Not Designated as Hedging Instrument | Other Assets | Warrant
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 1,500

Note 14. Postemployment Benef_3

Note 14. Postemployment Benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Components of Net Periodic Benefit Cost (before tax):
Service cost	$ 122	$ 126
Interest cost	11	19
Amortization of actuarial income	(112)	(88)
Net periodic benefit cost	$ 21	$ 57

Note 15. Stock Compensation - S

Note 15. Stock Compensation - Stock Compensation Textuals (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement, Expense	$ 0.9	$ 2.1
Share-based Payment Arrangement, Expense, Tax Benefit	$ 0.2	$ 0.6
Relative Total Shareholder Return
Stock Compensation, Shares Awarded	82,036
Relative Total Shareholder Return | Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Payout Percentage	0.00%
Relative Total Shareholder Return | Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	164,072
Share-based Compensation Arrangement by Share-based Payment Award, Payout Percentage	200.00%
Restricted Stock Units (RSUs)
Stock Compensation, Shares Awarded	165,529

Note 15. Stock Compensation -_2

Note 15. Stock Compensation - Stock Compensation Awards (Details)	3 Months Ended
	Sep. 30, 2020$ / sharesshares
Relative Total Shareholder Return
Share-based Compensation Arrangement by Share-based Payment Award
Stock Compensation, Shares Awarded | shares	82,036
Stock Compensation, Grant Date Fair Value	$ 11.35
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Stock Compensation, Shares Awarded | shares	165,529
Unrestricted Shares
Share-based Compensation Arrangement by Share-based Payment Award
Stock Compensation, Shares Awarded | shares	12,592
Stock Compensation, Grant Date Fair Value	$ 11.02
Minimum | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Stock Compensation, Grant Date Fair Value	10.94
Maximum | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Stock Compensation, Grant Date Fair Value	$ 11.28

Note 16. Variable Interest En_2

Note 16. Variable Interest Entities -Textuals (Details) - Variable Interest Entity, Not Primary Beneficiary [Member] - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Variable Interest Entity
Variable Interest Entity, Obligation to Provide Additional Funding, Amount	$ 0
Other Assets
Variable Interest Entity
Equity securities not readily marketable	500	$ 500
Receivables and Other Assets | Independent Dealership Financing | Notes Receivable
Variable Interest Entity
Notes Receivable, Net of Allowance	700	900
Warrant | Other Assets
Variable Interest Entity
Derivative Asset, Fair Value, Gross Asset	$ 1,500	$ 1,500

Note 17. Subsequent Events Text

Note 17. Subsequent Events Textuals (Details) - Subsequent Event [Member] $ in Thousands	Nov. 04, 2020USD ($)
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 125,000
Line of Credit Facility, Maximum Borrowing Capacity Upon Request	200,000
Poppin, Inc. [Domain]
Subsequent Event [Line Items]
Business Combination, Contingent Consideration, Potential Earn-out	70,000
Payments to Acquire Business, Gross	$ 110,000