Kimball International (KBAL) 10-Q 5 May 21 2021 Q3 Quarterly report Financial data

Cover page

Cover page - shares	9 Months Ended
	Mar. 31, 2021	Apr. 28, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	0-3279
Entity Registrant Name	KIMBALL INTERNATIONAL, INC.
Entity Incorporation, State or Country Code	IN
Entity Tax Identification Number	35-0514506
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
City Area Code	812
Local Phone Number	482-1600
Title of 12(b) Security	Class B Common Stock, par value $0.05 per share
Trading Symbol	KBAL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000055772
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2021
Amendment Flag	false
Document Fiscal Period Focus	Q3
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		191,395
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		36,593,367

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Current Assets:
Cash and cash equivalents	$ 33,451	$ 91,798
Short-term investments	501	5,294
Receivables, net of allowances of $2,723 and $2,574, respectively	47,370	68,365
Inventories	58,419	49,857
Prepaid expenses and other current assets	19,946	16,869
Assets held for sale	0	215
Total current assets	159,687	232,398
Property and equipment, net of accumulated depreciation of $197,856 and $193,641, respectively	88,244	92,041
Right-of-use operating lease assets	16,867	16,461
Goodwill	83,133	11,160
Other intangible assets, net of accumulated amortization of $39,420 and $40,442, respectively	67,239	13,949
Deferred tax assets	12,587	7,485
Other assets	18,517	12,773
Total Assets	446,274	386,267
Current Liabilities:
Short-term debt	40,000	0
Current maturities of long-term debt	2,220	27
Accounts payable	37,742	40,229
Customer deposits	24,330	19,649
Current portion of operating lease liability	6,505	4,886
Dividends payable	3,647	3,454
Accrued expenses	32,385	41,076
Total current liabilities	146,829	109,321
Other Liabilities:
Long-term debt, less current maturities	392	109
Long-term operating lease liability	14,128	16,610
Contingent earn-out liability	31,790	0
Other	16,676	15,431
Total other liabilities	62,986	32,150
Common stock-par value $0.05 per share:
Additional paid-in capital	6,437	3,770
Retained earnings	295,016	305,024
Accumulated other comprehensive income	2,212	2,137
Less: Treasury stock, at cost, 6,197,000 shares and 6,110,000 shares, respectively	(69,357)	(68,286)
Total Shareholders’ Equity	236,459	244,796
Total Liabilities and Shareholders’ Equity	446,274	386,267
Class A Common Stock
Common stock-par value $0.05 per share:
Common Stock	9	10
Class B Common Stock
Common stock-par value $0.05 per share:
Common Stock	$ 2,142	$ 2,141

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Net Sales	$ 138,676	$ 178,174	$ 422,817	$ 571,790
Cost of Sales	98,843	117,680	285,079	375,585
Gross Profit	39,833	60,494	137,738	196,205
Selling and Administrative Expenses	44,930	45,606	132,584	146,239
Restructuring Expense	2,617	818	8,473	6,564
Operating Income (Loss)	(7,714)	14,070	(3,319)	43,402
Other Income (Expense):
Interest income	59	386	248	1,482
Interest expense	(177)	(21)	(263)	(65)
Non-operating income (expense), net	311	(2,078)	2,434	(1,360)
Other income (expense), net	193	(1,713)	2,419	57
Income (Loss) Before Taxes on Income	(7,521)	12,357	(900)	43,459
Provision (Benefit) for Income Taxes	(2,992)	2,906	(919)	11,585
Net Income	$ (4,529)	$ 9,451	$ 19	$ 31,874
Earnings (Loss) Per Share of Common Stock:
Basic Earnings (Loss) Per Share (in dollars per share)	$ (0.12)	$ 0.26	$ 0	$ 0.86
Diluted Earnings (Loss) Per Share (in dollars per share)		$ 0.25	$ 0	$ 0.86
Class A and B Common Stock:
Average Number of Shares Outstanding - Basic (in shares)	36,860	36,813	36,932	36,890
Average Number of Shares Outstanding - Diluted (in shares)	36,860	37,089	37,529	37,234

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (4,529)	$ 9,451	$ 19	$ 31,874
Available-for-sale securities
Available-for-sale securities, Pre-tax	(4)	3	(42)	(17)
Available-for-sale securities, Tax	1	(1)	11	4
Available-for-sale securities, Net of Tax	(3)	2	(31)	(13)
Postemployment severance actuarial change
Postemployment severance actuarial change, Pre-tax	174	120	476	565
Postemployment severance actuarial change, Tax	(45)	(31)	(123)	(146)
Postemployment severance actuarial change, Net of Tax	129	89	353	419
Amortization of actuarial change
Amortization of actuarial change, Pre-tax	(112)	(82)	(333)	(260)
Amortization of actuarial change, Tax	29	21	86	67
Amortization of actuarial change, Net of Tax	(83)	(61)	(247)	(193)
Other comprehensive income (loss)
Other comprehensive income (loss), Pre-tax	58	41	101	288
Other comprehensive income (loss), Tax	(15)	(11)	(26)	(75)
Other comprehensive income (loss), Net of Tax	43	30	75	213
Total comprehensive income (loss)	$ (4,486)	$ 9,481	$ 94	$ 32,087

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Cash Flows From Operating Activities:
Net income (loss)		$ 19	$ 31,874
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		10,836	11,337
Amortization		4,212	1,707
(Gain) loss on sales of assets		(165)	75
Restructuring and asset impairment charges		1,916	2,954
Deferred income tax and other deferred charges		(491)	(500)
Stock-based compensation		4,048	3,850
Other, net		(1,440)	3,043
Change in operating assets and liabilities:
Receivables		24,055	(5,815)
Inventories		7,057	(3,898)
Prepaid expenses and other current assets		(1,991)	(960)
Accounts payable		(9,391)	(7,929)
Customer deposits		2,636	2,766
Accrued expenses		(13,971)	(21,136)
Net cash provided by operating activities		27,330	17,368
Cash Flows From Investing Activities:
Capital expenditures		(8,968)	(16,132)
Proceeds from sales of assets		498	138
Cash paid for acquisition		(101,478)	0
Purchases of capitalized software		(4,940)	(3,011)
Purchases of available-for-sale securities		(10,000)	(24,977)
Maturities of available-for-sale securities		14,750	44,488
Other, net		74	(818)
Net cash used for investing activities		(110,064)	(312)
Cash Flows From Financing Activities:
Proceeds from short-term debt		40,000	0
Repayments of long-term debt		(28)	(25)
Dividends paid to shareholders		(9,969)	(9,607)
Repurchases of Common Stock		(2,077)	(3,004)
Repurchase of employee shares for tax withholding		(258)	(976)
Net cash provided by (used for) financing activities		27,668	(13,612)
Net (Decrease) Increase in Cash, Cash Equivalents, and Restricted Cash	[1]	(55,066)	3,444
Cash, Cash Equivalents, Restricted Cash and Restricted Cash at Beginning of Period	[1]	92,444	73,837
Cash, Cash Equivalents, Restricted Cash and Restricted Cash at End of Period	[1]	37,378	77,281
Non-cash items:
Contingent earn-out liability for Poppin, Inc. acquisition		31,790	0
Cash paid during the period for:
Income taxes		6,239	10,406
Interest expense		$ 211	$ 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 and cash held in escrow for repayment of the Payment Protection Program loan that Poppin, Inc. obtained prior to its acquisition.

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareowners' Equity (unaudited) Statement - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common StockClass A Common Stock	Common StockClass B Common Stock	Additional Paid-In Capital	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Balance at the beginning of the period at Jun. 30, 2019	$ 216,490		$ 12	$ 2,139	$ 3,570	$ 277,391		$ 1,937	$ (68,559)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	31,874					31,874
Other comprehensive income (loss)	213							213
Issuance of non-restricted stock (11,000 shares in Q2'21, 6,000 shares in Q2'20, 24,000 shares YTD in FY'21, 15,000 shares YTD in FY'20)	0				(281)				281
Conversion of Class A to Class B common stock (1,000 shares in Q2'21, 55,000 shares in Q2'20, 1,000 shares YTD in FY'21, 57,000 shares YTD in FY'20)	0		(2)	2	(21)				21
Compensation expense related to stock compensation plans	4,395				4,395
Performance share issuance (0 shares in Q2'21, 0 shares in Q2'20, 0 shares YTD in FY'21, 67,000 shares YTD in FY'20)	(512)				(1,391)				879
Restricted stock units issuance (0 shares in Q2'21, 0 shares in Q2'20, 15,000 shares YTD in FY'21, 0 shares YTD in FY'20)	(125)				(327)				202
Relative total shareholder return performance units issuance (0 shares in Q2'21, 0 shares in Q2'20, 32,000 shares YTD in FY'21, 48,000 shares YTD in FY'20)	(330)				(954)				624
Reclassification of equity-classified awards	(680)				(680)
Repurchase of Common Stock (62,000 shares in Q2'21, 65,000 shares in Q2'20, 62,000 shares YTD in FY'21, 65,000 shares YTD in FY'20)	(3,004)								(3,004)
Dividends declared ($0.09 per share in Q2'21, $0.09 per share in Q2'20, $0.18 per share YTD in FY'21, $0.18 per share YTD in FY'20)	(10,071)					(10,071)
Balance at the end of the period at Mar. 31, 2020	238,250		10	2,141	4,311	299,194		2,150	(69,556)
Balance at the beginning of the period at Dec. 31, 2019	232,589		10	2,141	3,423	293,089		2,120	(68,194)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	9,451					9,451
Other comprehensive income (loss)	30							30
Issuance of non-restricted stock (11,000 shares in Q2'21, 6,000 shares in Q2'20, 24,000 shares YTD in FY'21, 15,000 shares YTD in FY'20)	0				(79)				79
Conversion of Class A to Class B common stock (1,000 shares in Q2'21, 55,000 shares in Q2'20, 1,000 shares YTD in FY'21, 57,000 shares YTD in FY'20)	0				(21)				21
Compensation expense related to stock compensation plans	1,315				1,315
Restricted stock units issuance (0 shares in Q2'21, 0 shares in Q2'20, 15,000 shares YTD in FY'21, 0 shares YTD in FY'20)	(125)				(327)				202
Repurchase of Common Stock (62,000 shares in Q2'21, 65,000 shares in Q2'20, 62,000 shares YTD in FY'21, 65,000 shares YTD in FY'20)	(1,664)								(1,664)
Dividends declared ($0.09 per share in Q2'21, $0.09 per share in Q2'20, $0.18 per share YTD in FY'21, $0.18 per share YTD in FY'20)	(3,346)					(3,346)
Balance at the end of the period at Mar. 31, 2020	238,250		10	2,141	4,311	299,194		2,150	(69,556)
Balance at the beginning of the period at Jun. 30, 2020	244,796	$ 134	10	2,141	3,770	305,024	$ 134	2,137	(68,286)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	19					19
Other comprehensive income (loss)	75							75
Issuance of non-restricted stock (11,000 shares in Q2'21, 6,000 shares in Q2'20, 24,000 shares YTD in FY'21, 15,000 shares YTD in FY'20)	(24)				(511)				487
Conversion of Class A to Class B common stock (1,000 shares in Q2'21, 55,000 shares in Q2'20, 1,000 shares YTD in FY'21, 57,000 shares YTD in FY'20)	0		(1)	1
Compensation expense related to stock compensation plans	4,048				4,048
Restricted stock units issuance (0 shares in Q2'21, 0 shares in Q2'20, 15,000 shares YTD in FY'21, 0 shares YTD in FY'20)	(80)				(284)				204
Relative total shareholder return performance units issuance (0 shares in Q2'21, 0 shares in Q2'20, 32,000 shares YTD in FY'21, 48,000 shares YTD in FY'20)	(156)				(586)				430
Repurchase of Common Stock (62,000 shares in Q2'21, 65,000 shares in Q2'20, 62,000 shares YTD in FY'21, 65,000 shares YTD in FY'20)	(2,192)								(2,192)
Dividends declared ($0.09 per share in Q2'21, $0.09 per share in Q2'20, $0.18 per share YTD in FY'21, $0.18 per share YTD in FY'20)	(10,161)					(10,161)
Balance at the end of the period at Mar. 31, 2021	236,459		9	2,142	6,437	295,016		2,212	(69,357)
Balance at the beginning of the period at Dec. 31, 2020	244,012		9	2,142	4,843	302,937		2,169	(68,088)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(4,529)					(4,529)
Other comprehensive income (loss)	43							43
Issuance of non-restricted stock (11,000 shares in Q2'21, 6,000 shares in Q2'20, 24,000 shares YTD in FY'21, 15,000 shares YTD in FY'20)	(24)				(196)				172
Conversion of Class A to Class B common stock (1,000 shares in Q2'21, 55,000 shares in Q2'20, 1,000 shares YTD in FY'21, 57,000 shares YTD in FY'20)	0
Compensation expense related to stock compensation plans	1,790				1,790
Repurchase of Common Stock (62,000 shares in Q2'21, 65,000 shares in Q2'20, 62,000 shares YTD in FY'21, 65,000 shares YTD in FY'20)	(1,441)								(1,441)
Dividends declared ($0.09 per share in Q2'21, $0.09 per share in Q2'20, $0.18 per share YTD in FY'21, $0.18 per share YTD in FY'20)	(3,392)					(3,392)
Balance at the end of the period at Mar. 31, 2021	$ 236,459		$ 9	$ 2,142	$ 6,437	$ 295,016		$ 2,212	$ (69,357)

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) Parentheticals - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Receivables allowance	$ 2,723	$ 2,574
Accumulated depreciation	197,856	193,641
Accumulated Amortization	$ 39,420	$ 40,442
Treasury stock (in shares)	6,197,000	6,110,000
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.05	$ 0.05
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	191,000	193,000
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.05	$ 0.05
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	42,832,000	42,830,000

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (unaudited) - Cash Reconciliation - USD ($) $ in Thousands		Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019
Statement of Cash Flows [Abstract]
Cash and cash equivalents		$ 33,451	$ 91,798	$ 76,636	$ 73,196
Restricted cash included in Other Assets		3,927	646	645	641
Total Cash, Cash Equivalents, and Restricted Cash at end of period	[1]	$ 37,378	$ 92,444	$ 77,281	$ 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 and cash held in escrow for repayment of the Payment Protection Program loan that Poppin, Inc. obtained prior to its acquisition.

Condensed Consolidated Statem_6

Condensed Consolidated Statement of Shareowners' Equity (unaudited) Parentheticals - $ / shares	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Issuance of non-restricted stock (in shares)	13,000	6,000	37,000	21,000
Conversion of Class A to Class B common stock (in shares)	1,000	1,000	2,000	58,000
Vesting of restricted stock units (in shares)		15,000	15,000	15,000
Performance Share Issuance (in shares)				67,000
Relative total shareholder return performance units issuance (in shares)			32,000	48,000
Repurchase of Common Stock (in shares)	109,000	81,000	171,000	146,000
Dividends declared (in dollars per share)	$ 0.09	$ 0.09	$ 0.27	$ 0.27

Basis of Presentation

Basis of Presentation	9 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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.

Recent Accounting Pronouncement

Recent Accounting Pronouncements and Supplemental Information	9 Months Ended
	Mar. 31, 2021
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. In connection with our annual impairment test, we assessed goodwill at the reporting unit level for impairment during our second quarter of fiscal year 2021, and no goodwill impairment was recognized. As of March 31, 2021 and June 30, 2020 our goodwill totaled $83.1 million and $11.2 million, respectively. During fiscal year 2021, we recorded $72.0 million and $52.4 million, respectively, in goodwill and other intangible assets from the acquisition of Poppin, Inc. See Note 3 - Acquisition of Notes to Condensed Consolidated Financial Statements for more information on this acquisition. Other Intangible Assets reported on the Condensed Consolidated Balance Sheets consist of capitalized software, customer relationships, trade names, acquired technology, patents, trademarks, 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: March 31, 2021 June 30, 2020 (Amounts in Thousands) Cost Accumulated Net Value Cost Accumulated Net Value Capitalized Software $ 43,606 $ 33,637 $ 9,969 $ 43,671 $ 37,566 $ 6,105 Customer Relationships 19,050 3,157 15,893 7,050 1,871 5,179 Trade Names 36,570 2,240 34,330 3,570 952 2,618 Acquired Technology 7,000 309 6,691 — — — Patents and Trademarks 333 9 324 — — — Non-Compete Agreements 100 68 32 100 53 47 Other Intangible Assets $ 106,659 $ 39,420 $ 67,239 $ 54,391 $ 40,442 $ 13,949 Amortization expense related to intangible assets was, in thousands, $2,510 and $4,212 during the quarter and year-to-date period ended March 31, 2021, and was, in thousands, $639 and $1,707 during the quarter and year-to-date period ended March 31, 2020. Amortization expense in future periods is expected to be, in thousands, $2,516 for the remainder of fiscal year 2021, and $9,423, $8,585, $7,985, and $7,782 in the four years ending June 30, 2025, and $30,948 thereafter. The estimated useful life of capitalized software ranges from 2 to 10 years. The amortization period for customer relationship intangible assets ranges from 10 to 20 years. The estimated useful life of trade names is 10 years. The amortization period for acquired technology is 7 years. The estimated useful life of non-compete agreements is 5 years. The estimated useful life of patents is 14 years and the estimated useful life of trademarks is 15 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, non-compete agreements, acquired technology, patents and trademarks 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 Nine Months Ended March 31 March 31 (Amounts in Thousands) 2021 2020 2021 2020 Gain (Loss) on SERP Investments $ 428 $ (1,784) $ 2,567 $ (1,010) Other (117) (294) (133) (350) Non-operating income (expense), net $ 311 $ (2,078) $ 2,434 $ (1,360)

Acquisition

Acquisition	9 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Acquisition	AcquisitionOn December 9, 2020, we acquired Poppin, Inc. (“Poppin”), a tech-enabled, market-leading B2B commercial furniture design company headquartered in New York City, New York. Poppin designs commercial-grade furniture that is made to mix, match, and scale in today’s modern office and work-from-home environments. The acquisition purchase price totaled $110.4 million in initial cash consideration plus additional contingent payments, if all milestones are achieved, of $70.0 million based on revenue and profitability milestones achieved through June 30, 2024. As of the acquisition date the fair value of the contingent earn-out was $31.8 million. The $110.4 million cash consideration is subject to certain post-closing working capital and other customary adjustments. A summary of the preliminary purchase price allocation is as follows: Purchase Price Allocation (Amounts in Thousands) Cash $ 5,768 Receivables 2,814 Inventories 15,718 Other current assets 700 Net property and equipment 975 Other intangible assets 52,394 Goodwill 71,973 Right-of-use operating lease assets 5,103 Other long-term assets 4,161 Deferred tax assets 4,664 Total Assets $ 164,270 Current maturities of long-term debt 1,252 Accounts payable 7,715 Customer deposits 2,045 Current portion of operating lease liability 1,937 Accrued expenses 5,260 Long-term debt, less current maturities 1,252 Long-term operating lease liability 2,565 Other long-term liabilities 80 Total Liabilities $ 22,106 Net Assets $ 142,164 Consideration (Amounts in Thousands) Cash $ 110,374 Contingent earn-out — fair value at acquisition date 31,790 Fair value of total consideration $ 142,164 Less: Acquired cash 5,768 Total consideration less acquired cash $ 136,396 The operating results of this acquisition are included in our consolidated financial statements beginning on December 9, 2020. For the quarter ended March 31, 2021, net sales and net loss related to Poppin were $8.9 million and $4.0 million, respectively. For the year-to-date period ended March 31, 2021, net sales and net loss related to Poppin were $11.5 million and $5.0 million, respectively. Direct costs of the acquisition during both the quarter and year-to-date periods ended March 31, 2021, of less than $0.1 million and $3.4 million were expensed as incurred and were included on the Selling and Administrative Expenses line of our Condensed Consolidated Statements of Income. The goodwill is not deductible for tax purposes. Goodwill is primarily attributable to the anticipated supply chain and revenue synergies including cross selling initiatives expected from the operations of the combined company. See Note 2 - Recent Accounting Pronouncements and Supplemental Information of Notes to Condensed Consolidated Financial Statements for more information on goodwill and other intangible assets. The purchase price allocation is provisional pending final valuations and purchase accounting adjustments, which were not final as of March 31, 2021. We utilized management estimates and consultation with an independent third-party valuation firm to assist in the valuation process. The following summarizes our goodwill activity: Goodwill (Amounts in Thousands) Goodwill - at acquisition date $ 71,798 Adjustments to purchase price allocation 175 Goodwill - March 31, 2021 $ 71,973 Pro Forma Information The following unaudited pro forma financial information summarizes the combined results of operations for Kimball International, Inc. and Poppin, Inc. as if the companies were combined as of the beginning of fiscal year 2020: (unaudited) (unaudited) Three Months Ended Nine Months Ended March 31 March 31 (Amounts in Thousands, Except Per Share Date) 2021 2020 2021 2020 Net Sales $ 138,676 $ 199,021 $ 442,966 $ 635,078 Net Income (Loss) (4,529) 5,542 (3,187) 21,894 Diluted Earnings (Loss) Per Share of Common Stock $ (0.12) $ 0.15 $ (0.08) $ 0.59 This pro forma financial information is based on historical results of operations, adjusted for the allocation of the purchase price and other acquisition accounting adjustments. This pro forma information is not necessarily indicative of what our results would have been had we operated the businesses since the beginning of the periods presented. The pro forma adjustments reflect the income statement effects of amortization of intangibles related to the fair value adjustments of the assets acquired, acquisition-related costs, incremental interest expense, and the related tax effects.

Restructuring

Restructuring	9 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring We recognized pre-tax restructuring expense of $2.6 million and $8.5 million in the three and nine months ended March 31, 2021, respectively, and recognized $0.8 million and $6.6 million for the three and nine months ended March 31, 2020. 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 included 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 of fiscal year 2020 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 $11.3 million. The restructuring charges are expected to consist of approximately $3.6 million for severance and other employee-related costs, $3.6 million for facility exit and other costs, and $4.1 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 Nine Months Ended Charges Incurred to Date March 31 March 31 (Amounts in Thousands) 2021 2020 2021 2020 Cash-related restructuring charges: Severance and other employee related costs $ — $ 203 $ 62 $ 2,194 $ 2,884 Facility exit costs and other cash charges 148 424 733 1,416 2,773 Total cash-related restructuring charges $ 148 $ 627 $ 795 $ 3,610 $ 5,657 Non-cash charges: Transition stock compensation $ — $ 9 $ — $ 663 $ 725 Impairment of assets and accelerated depreciation — 132 405 2,190 4,095 Other non-cash charges — 50 72 101 221 Total non-cash charges $ — $ 191 $ 477 $ 2,954 $ 5,041 Total charges $ 148 $ 818 $ 1,272 $ 6,564 $ 10,698 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 (229) (60) (289) Non-cash adjustments — (5) (5) Balance at March 31, 2021 $ — $ — $ — 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, including the consolidation of our Baltimore, Maryland facility into other manufacturing facilities. • 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. • In the third quarter of fiscal 2021, we offered two voluntary retirement incentive programs to eligible employees. Employees electing to participate will be paid special termination benefits, including a severance benefit and cash payment that may be used to pay for a period of healthcare coverage or for any other purpose. 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 $16.0 million when it is fully implemented. We currently estimate the phase 2 transformation restructuring plan will incur total pre-tax restructuring charges of approximately $15.0 million to $16.0 million, with $9.0 million to $10.0 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 $6.0 million to $6.3 million for severance and other employee-related costs, $3.8 million to $4.4 million for facility costs, and $5.2 million to $5.3 million for lease and other asset impairment. Approximately 70% 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 Nine Months Ended Charges Incurred to Date March 31 March 31 (Amounts in Thousands) 2021 2021 Cash-related restructuring charges: Severance and other employee related costs $ 1,404 $ 4,915 $ 4,915 Facility exit costs and other cash charges 613 849 849 Total cash-related restructuring charges $ 2,017 $ 5,764 $ 5,764 Non-cash charges: Impairment of assets and accelerated depreciation 452 1,437 1,437 Total charges $ 2,469 $ 7,201 $ 7,201 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 5,346 Cash payments charged against reserve (2,520) Non-cash adjustments (431) Balance at March 31, 2021 $ 2,395

Revenue

Revenue	9 Months Ended
	Mar. 31, 2021
Revenue Recognition [Abstract]
Revenue	Revenue Disaggregation of Revenue The following table provides information about revenue by end market: Three Months Ended Nine Months Ended March 31 March 31 (Amounts in Millions) 2021 2020 2021 2020 Workplace $ 78.9 $ 104.3 $ 261.6 $ 344.4 Health 24.6 30.2 72.2 87.3 Hospitality 35.2 43.7 89.0 140.1 Total Net Sales $ 138.7 $ 178.2 $ 422.8 $ 571.8 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 and eBusiness. The revenue of the Poppin acquisition is included in eBusiness. 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 upon satisfaction of a performance obligation. 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 nine months ended March 31, 2021 that was included in the June 30, 2020 customer deposit balance was $18.8 million.

Leases

Leases	9 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	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 2027. 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 Nine Months Ended March 31 March 31 (Amounts in Millions) 2021 2020 2021 2020 Operating lease expense $ 1.3 $ 0.9 $ 3.1 $ 2.5 Variable lease expense 1.2 0.6 2.5 1.8 Total lease expense $ 2.5 $ 1.5 $ 5.6 $ 4.3 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 13 - 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 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. See Note 4 - Restructuring of Notes to Condensed Consolidated Financial Statements for more information on the impairment. Supplemental cash flow and other information related to leases are as follows: Nine Months Ended March 31 (Amounts in Millions) 2021 2020 Cash flow information: Operating lease payments impacting lease liability $ 4.2 $ 3.6 Non-cash impact of obtaining new right-of-use assets $ 5.1 $ 2.1 As of March 31 2021 2020 Other information: Weighted-average remaining term (in years) 4.4 6.1 Weighted-average discount rate 4.5 % 4.7 % The following table summarizes the future minimum lease payments as of March 31, 2021: Fiscal Year Ended (Amounts in Millions) June 30 (1) 2021 $ 1.7 2022 6.6 2023 5.6 2024 3.4 2025 2.7 Thereafter 2.6 Total lease payments $ 22.6 Less interest 2.0 Present value of lease liabilities $ 20.6

Earnings Per Share

Earnings Per Share	9 Months Ended
	Mar. 31, 2021
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 Nine Months Ended March 31 March 31 (Amounts in Thousands, Except for Per Share Data) 2021 2020 2021 2020 Net Income (Loss) $ (4,529) $ 9,451 $ 19 $ 31,874 Average Shares Outstanding for Basic EPS Calculation 36,860 36,813 36,932 36,890 Dilutive Effect of Average Outstanding Compensation Awards — 276 597 344 Average Shares Outstanding for Diluted EPS Calculation 36,860 37,089 37,529 37,234 Basic Earnings (Loss) Per Share $ (0.12) $ 0.26 $ 0.00 $ 0.86 Diluted Earnings (Loss) Per Share $ (0.12) $ 0.25 $ 0.00 $ 0.86

Income Taxes

Income Taxes	9 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes 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. Our effective tax rates for the three and nine months ended March 31, 2021 were 39.8% and 102.1%, respectively. These rates were higher than the combined federal and state statutory tax rate primarily due to R&D tax credits, which increased the tax benefit associated with the pre-tax losses during the quarter and year-to-date periods. Our effective tax rate for the three months ended March 31, 2020 was 23.5%, which was less than the combined federal and state statutory tax rate primarily because the R&D tax credit reduced the tax provision on pre-tax income during the quarter. Our effective tax rate was 26.7% for the nine months ended March 31, 2020, which approximated the combined federal and state statutory rate. During the second quarter of fiscal year 2021, we acquired U.S. federal net operating losses (“NOLs”) of approximately $75.7 million in connection with the Poppin, Inc. acquisition, of which an estimated $72.7 million will be available to offset future taxable income during the carryforward period based on limitations under Section 382 of the Internal Revenue Code of 1986, as amended. Approximately $60.1 million of federal NOLs expire between fiscal years 2032 and 2037 and the remaining available federal NOLs can be carried forward indefinitely. We also acquired state NOLs of approximately $91.3 million in connection with the Poppin, Inc. acquisition, of which an estimated $66.7 million will be available to offset future taxable income during the carryforward periods. We provided a full valuation allowance against the available state NOLs, as we do not have sufficient positive evidence at this time to conclude that Poppin, Inc. will be able to utilize the NOL carryforwards in the states where the losses were generated, considering state limitations on the utilization of NOLs.

Inventories

Inventories	9 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventory components were as follows: (Amounts in Thousands) March 31, June 30, Finished products $ 41,430 $ 29,081 Work-in-process 1,186 1,648 Raw materials 32,743 35,295 Total FIFO inventory 75,359 66,024 LIFO reserve (16,940) (16,167) Total inventory $ 58,419 $ 49,857

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Accumulated Comprehensive Income	Accumulated Other Comprehensive Income During the three months ended March 31, 2021 and 2020, 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 December 31, 2020 $ 4 $ 2,165 $ 2,169 Other comprehensive income (loss) before reclassifications (3) 129 126 Reclassification to (earnings) loss — (83) (83) Net current-period other comprehensive income (loss) (3) 46 43 Balance at March 31, 2021 $ 1 $ 2,211 $ 2,212 Balance at December 31, 2019 $ 8 $ 2,112 $ 2,120 Other comprehensive income (loss) before reclassifications 2 89 91 Reclassification to (earnings) loss — (61) (61) Net current-period other comprehensive income (loss) 2 28 30 Balance at March 31, 2020 $ 10 $ 2,140 $ 2,150 During the nine months ended March 31, 2021 and 2020, 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 (31) 353 322 Reclassification to (earnings) loss — (247) (247) Net current-period other comprehensive income (loss) (31) 106 75 Balance at March 31, 2021 $ 1 $ 2,211 $ 2,212 Balance at June 30, 2019 $ 23 $ 1,914 $ 1,937 Other comprehensive income (loss) before reclassifications (13) 419 406 Reclassification to (earnings) loss — (193) (193) Net current-period other comprehensive income (loss) (13) 226 213 Balance at March 31, 2020 $ 10 $ 2,140 $ 2,150 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 Nine Months Ended Affected Line Item in the Condensed Consolidated Statements of Income March 31 March 31 (Amounts in Thousands) 2021 2020 2021 2020 Postemployment Benefits Amortization of Actuarial Gain (1) $ 112 $ 82 $ 333 $ 260 Non-operating income (expense), net (29) (21) (86) (67) Benefit (Provision) for Income Taxes Total Reclassifications for the Period $ 83 $ 61 $ 247 $ 193 Net Income Amounts in parentheses indicate reductions to income. (1) See Note 16 - Postemployment Benefits

Short-Term and Long-Term Debt

Short-Term and Long-Term Debt	9 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Short-Term and Long-Term Debt	Short-Term and Long-Term Debt Short-term borrowings and long-term debt consisted of the following obligations: (Amounts in Thousands) March 31, June 30, Short-term debt under credit facility due June 8, 2021; 1.56% $ 40,000 $ — PPP loan obtained in Poppin acquisition due April 23, 2022; 1.00% 2,503 — Other debt maturing August 12, 2025; 9.25% 109 136 Total Debt $ 42,612 $ 136 As of March 31, 2021 we had a $125.0 million credit facility with a maturity date of October 2024 that allowed for both issuances of letters of credit and cash borrowings. We also have an option to request an increase of the amount available for borrowing to $200.0 million, subject to participating banks’ consent. The loans under the Credit Agreement could consist of, at our election, advances in U.S. dollars or advances in any other currency that was agreed to by the lenders. The proceeds of the loans are to be used for general corporate purposes including acquisitions. A portion of the credit facility, not to exceed $10 million of the principal amount, was available for the issuance of letters of credit. At March 31, 2021, we had $1.7 million in letters of credit outstanding, which reduced our borrowing capacity on the credit facility. Total availability to borrow under the credit facility totaled $83.3 million at March 31, 2021. For the third quarter of fiscal year 2021 and 2020, interest expense incurred and paid was, in thousands, $182 and $0, respectively, and for the year-to date periods of fiscal year 2021 and 2020 was $211 and $15, respectively. The interest rate is dependent on the type of borrowings and will be one of the following two options: • the adjusted London Interbank Offered Rate (“Adjusted LIBO Rate” as defined in the Credit Agreement) in effect two business days prior to the advance (adjusted upwards to reflect bank reserve costs) for such interest period, plus the Eurocurrency Loans margin which can range from 125.0 to 200.0 basis points based on the Company's ratio of consolidated total indebtedness to adjusted consolidated EBITDA; or • the Alternate Base Rate (the “ABR”) which is defined as the highest of the fluctuating rate per annum equal to the higher of a. prime rate as last quoted by The Wall Street Journal; or b. 1% per annum above the Adjusted LIBO rate; or c. 0.5% per annum above the Federal Reserve Bank of New York; plus the ABR Loans spread which can range from 25.0 to 100.0 basis points based on the Company's ratio of consolidated total indebtedness to adjusted consolidated EBITDA. We were in compliance with all debt covenants of the credit facility during the nine-month period ended March 31, 2021. The most significant financial covenants under the Credit Agreement require: • an adjusted leverage ratio of (a) consolidated total indebtedness minus unencumbered U.S. cash equivalents in excess of $15,000,000 provided that the maximum subtraction shall not exceed $35,000,000 to (b) adjusted consolidated EBITDA, determined as of the end of each of its fiscal quarters for the then most recently ended four fiscal quarters, to not be greater than 3.0 to 1.0, and • an interest coverage ratio, for any period, of (a) Consolidated EBITDA for such period to (b) cash interest expense for such period, calculated on a consolidated basis in accordance with GAAP for the trailing four quarter period then ending, to not be less than 3.00 to 1.00. We acquired Poppin, Inc. subsequent to their borrowing of the Payment Protection Program (“PPP”) loan, and we hold restricted cash in escrow for repayment of the PPP loan. If the PPP loan is forgiven, the proceeds will be paid to the former Poppin, Inc. equity holders per the terms of the agreement and plan of merger.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	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 March 31, 2021, we had a maximum financial exposure from unused standby letters of credit totaling $1.7 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 $8.1 million as of March 31, 2021. 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 March 31, 2021 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 nine months ended March 31, 2021 and 2020 were as follows: Nine Months Ended March 31 (Amounts in Thousands) 2021 2020 Product Warranty Liability at the beginning of the period $ 3,190 $ 2,238 Additions to warranty accrual (including changes in estimates) 1,256 3,318 Settlements made (in cash or in kind) (1,643) (2,356) Product Warranty Liability at the end of the period $ 2,803 $ 3,200

Fair Value

Fair Value	9 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value	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. In connection with the acquisition of Poppin, we valued long-lived and intangible assets at their estimated fair values at the acquisition date. The fair value estimates for intangible assets were based upon assumptions related to the future cash flows and discount rates utilizing currently available information, and in some cases, valuation results from independent valuation specialists (Level 3 determination of fair value). Subsequent to the acquisition, we may determine the fair value of our long-lived and intangible assets on a non-recurring basis in connection with our periodic evaluations of such assets for potential impairment and record impairment charges when such fair value estimates are lower than the carrying values of the assets. As part of the acquisition, contingent earn-out payments up to $70.0 million may be paid based on revenue and profitability milestones achieved through June 30, 2024. As of March 31, 2021, the fair value of the contingent earn-out liability was $31.8 million . The liability is carried at fair value and is classified in Level 3 of the fair value hierarchy. The recurring Level 3 fair value measurements of our contingent consideration liability include the following significant unobservable inputs: Contingent Consideration Liability Fair Value Valuation Technique Unobservable Inputs Range Selected Revenue and EBITDA Based Payments $ 31.8 million Discounted Cash Flow Revenue Discount Rate 4% to 6% 5 % EBITDA Volatility 30% to 52.5% 50 % Revenue Volatility 5% to 7% 7 % 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 14 - Investments of Notes to Condensed Consolidated Financial Statements for further information regarding the investment in equity securities without readily determinable fair value, and Note 15 - 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 nine months ended March 31, 2021. 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. 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. Contingent earn-out liability 3 Income - Based on a valuation model that measures the present value of the probable cash payments based upon the forecasted operating performance of the acquisition and a discount rate that captures the risk associated with the liability. Recurring Fair Value Measurements: As of March 31, 2021 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: March 31, 2021 (Amounts in Thousands) Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 27,409 $ — $ — $ 27,409 Available-for-sale securities: Secondary market certificates of deposit — 501 — 501 Trading Securities: Mutual funds in nonqualified SERP 13,586 — — 13,586 Derivatives: Stock warrants — — 1,500 1,500 Total assets at fair value $ 40,995 $ 501 $ 1,500 $ 42,996 Liabilities Contingent earn-out liability — — 31,790 31,790 Total liabilities at fair value $ — $ — $ 31,790 $ 31,790 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 14 - 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 14 - 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, debt, and dividends payable approximates fair value due to their relatively short maturity and immaterial non-performance risk.

Investments

Investments	9 Months Ended
	Mar. 31, 2021
Investments [Abstract]
Investments	Investments Investment Portfolio: Our investment portfolio consists of certificates of deposit purchased in the secondary market. 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: March 31, 2021 (Amounts in Thousands) Certificates of Deposit Within one year $ 501 After one year through two years — Total Fair Value $ 501 All investments are classified as available-for-sale securities which are recorded at fair value. See Note 13 - 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. March 31, 2021 (Amounts in Thousands) Certificates of Deposit Amortized cost basis $ 500 Unrealized holding gains 1 Unrealized holding losses — Fair Value $ 501 June 30, 2020 (Amounts in Thousands) Certificates of Deposit 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 March 31, 2021. There were no realized gains or losses as a result of sales in the three and nine months ended March 31, 2021 and March 31, 2020. 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 nine months ended March 31, 2021 and 2020 were, in thousands, $2,051 and $1,569, respectively. SERP asset and liability balances were as follows: (Amounts in Thousands) March 31, June 30, SERP investments - current asset $ 3,463 $ 3,622 SERP investments - other long-term asset 10,123 8,353 Total SERP investments $ 13,586 $ 11,975 SERP obligation - current liability $ 3,463 $ 3,622 SERP obligation - other long-term liability 10,123 8,353 Total SERP obligation $ 13,586 $ 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 13 - 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.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative InstrumentsWe 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 March 31, 2021, the change in fair value of the stock warrants was not significant. See Note 13 - Fair Value of Notes to Condensed Consolidated Financial Statements for more information on the valuation of these securities.

Postemployment Benefits

Postemployment Benefits	9 Months Ended
	Mar. 31, 2021
Postemployment Benefits [Abstract]
Postemployment Benefits	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 Nine Months Ended March 31 March 31 (Amounts in Thousands) 2021 2020 2021 2020 Service cost $ 118 $ 120 $ 361 $ 365 Interest cost 10 19 31 56 Amortization of actuarial income (112) (82) (333) (260) Net periodic benefit cost $ 16 $ 57 $ 59 $ 161 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.

Stock Compensation

Stock Compensation	9 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock Compensation	Stock Compensation Stock-based compensation expense during the quarter and year-to-date period ended March 31, 2021 was $1.8 million and $4.0 million, respectively, and during the quarter and year-to-date period ended March 31, 2020 was $1.3 million and $4.5 million, respectively. The total income tax benefit for stock compensation arrangements during the quarter and year-to-date period ended March 31, 2021 was $0.5 million and $1.0 million, respectively, and during the quarter and year-to-date period ended March 31, 2020 was $0.4 million and $1.2 million, respectively. 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 Relative Total Shareholder Return Performance Units (1) 2nd Quarter 17,285 $10.68 - $12.63 Restricted Stock Units (2) 1st Quarter 165,529 $10.94 - $11.28 Restricted Stock Units (2) 2nd Quarter 415,513 $11.08 - $12.25 Restricted Stock Units (2) 3rd Quarter 9,366 $12.09 - $12.81 Unrestricted Shares (3) 1st Quarter 12,592 $11.02 Unrestricted Shares (3) 2nd Quarter 11,042 $10.65 - $10.67 Unrestricted Shares (3) 3rd Quarter 13,014 $11.83 - $12.50 (1) Performance units were awarded to key officers under the Company’s Relative Total Shareholder Return program. Vesting occurs at June 30, 2021, June 30, 2022, and 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, excluding forfeited awards, is 190,664. (2) Restricted stock units were awarded to officers and key employees. Vesting occurs at June 30, 2021, December 31, 2021, June 30, 2022, December 31, 2022, June 30, 2023, and December 31, 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 and key employees 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.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Mar. 31, 2021
Variable Interest Entity, Not Primary Beneficiary, Disclosures [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, as described in Note 13 - Fair Value of Notes to Condensed Consolidated Financial Statements. The carrying value of the notes receivable for independent dealership financing were $0.6 million at March 31, 2021 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 March 31, 2021.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements and Supplemental Information (Policies)	9 Months Ended
	Mar. 31, 2021
Recent Accounting Pronouncements and Supplemental Information [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.
Recently Adopted 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 and Other Intangible Assets	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.
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, non-compete agreements, acquired technology, patents and trademarks 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
Non-operating Income and Expense, net	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.
Impairment or disposal of long-lived assets	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.
Recognition of asset and liability for lease	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 non-lease components	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	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.
Income tax policy	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.
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.
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.
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. 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. 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. Contingent earn-out liability 3 Income - Based on a valuation model that measures the present value of the probable cash payments based upon the forecasted operating performance of the acquisition and a discount rate that captures the risk associated with the liability.
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. 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. Contingent earn-out liability 3 Income - Based on a valuation model that measures the present value of the probable cash payments based upon the forecasted operating performance of the acquisition and a discount rate that captures the risk associated with the liability.
Fair value measurement, non-recurring policy	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.
Share-based Payment Arrangement	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.

Fair Value Measures and Disclos

Fair Value Measures and Disclosures (Policies)	9 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [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. 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. 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. Contingent earn-out liability 3 Income - Based on a valuation model that measures the present value of the probable cash payments based upon the forecasted operating performance of the acquisition and a discount rate that captures the risk associated with the liability.

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements and Supplemental Information (Tables)	9 Months Ended
	Mar. 31, 2021
Recent Accounting Pronouncements and Supplemental Information [Abstract]
Schedule of Finite-Lived Intangible Assets	A summary of intangible assets subject to amortization is as follows: March 31, 2021 June 30, 2020 (Amounts in Thousands) Cost Accumulated Net Value Cost Accumulated Net Value Capitalized Software $ 43,606 $ 33,637 $ 9,969 $ 43,671 $ 37,566 $ 6,105 Customer Relationships 19,050 3,157 15,893 7,050 1,871 5,179 Trade Names 36,570 2,240 34,330 3,570 952 2,618 Acquired Technology 7,000 309 6,691 — — — Patents and Trademarks 333 9 324 — — — Non-Compete Agreements 100 68 32 100 53 47 Other Intangible Assets $ 106,659 $ 39,420 $ 67,239 $ 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 Nine Months Ended March 31 March 31 (Amounts in Thousands) 2021 2020 2021 2020 Gain (Loss) on SERP Investments $ 428 $ (1,784) $ 2,567 $ (1,010) Other (117) (294) (133) (350) Non-operating income (expense), net $ 311 $ (2,078) $ 2,434 $ (1,360)

Acquisition (Tables)

Acquisition (Tables)	9 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	A summary of the preliminary purchase price allocation is as follows: Purchase Price Allocation (Amounts in Thousands) Cash $ 5,768 Receivables 2,814 Inventories 15,718 Other current assets 700 Net property and equipment 975 Other intangible assets 52,394 Goodwill 71,973 Right-of-use operating lease assets 5,103 Other long-term assets 4,161 Deferred tax assets 4,664 Total Assets $ 164,270 Current maturities of long-term debt 1,252 Accounts payable 7,715 Customer deposits 2,045 Current portion of operating lease liability 1,937 Accrued expenses 5,260 Long-term debt, less current maturities 1,252 Long-term operating lease liability 2,565 Other long-term liabilities 80 Total Liabilities $ 22,106 Net Assets $ 142,164
Schedule of Business Acquisitions by Acquisition, Contingent Consideration	Consideration (Amounts in Thousands) Cash $ 110,374 Contingent earn-out — fair value at acquisition date 31,790 Fair value of total consideration $ 142,164 Less: Acquired cash 5,768 Total consideration less acquired cash $ 136,396
Business Acquisition, Pro Forma Information	The following unaudited pro forma financial information summarizes the combined results of operations for Kimball International, Inc. and Poppin, Inc. as if the companies were combined as of the beginning of fiscal year 2020: (unaudited) (unaudited) Three Months Ended Nine Months Ended March 31 March 31 (Amounts in Thousands, Except Per Share Date) 2021 2020 2021 2020 Net Sales $ 138,676 $ 199,021 $ 442,966 $ 635,078 Net Income (Loss) (4,529) 5,542 (3,187) 21,894 Diluted Earnings (Loss) Per Share of Common Stock $ (0.12) $ 0.15 $ (0.08) $ 0.59
Schedule of Goodwill	The following summarizes our goodwill activity: Goodwill (Amounts in Thousands) Goodwill - at acquisition date $ 71,798 Adjustments to purchase price allocation 175 Goodwill - March 31, 2021 $ 71,973

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Mar. 31, 2021
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 Nine Months Ended Charges Incurred to Date March 31 March 31 (Amounts in Thousands) 2021 2020 2021 2020 Cash-related restructuring charges: Severance and other employee related costs $ — $ 203 $ 62 $ 2,194 $ 2,884 Facility exit costs and other cash charges 148 424 733 1,416 2,773 Total cash-related restructuring charges $ 148 $ 627 $ 795 $ 3,610 $ 5,657 Non-cash charges: Transition stock compensation $ — $ 9 $ — $ 663 $ 725 Impairment of assets and accelerated depreciation — 132 405 2,190 4,095 Other non-cash charges — 50 72 101 221 Total non-cash charges $ — $ 191 $ 477 $ 2,954 $ 5,041 Total charges $ 148 $ 818 $ 1,272 $ 6,564 $ 10,698
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 (229) (60) (289) Non-cash adjustments — (5) (5) Balance at March 31, 2021 $ — $ — $ —
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 Nine Months Ended Charges Incurred to Date March 31 March 31 (Amounts in Thousands) 2021 2021 Cash-related restructuring charges: Severance and other employee related costs $ 1,404 $ 4,915 $ 4,915 Facility exit costs and other cash charges 613 849 849 Total cash-related restructuring charges $ 2,017 $ 5,764 $ 5,764 Non-cash charges: Impairment of assets and accelerated depreciation 452 1,437 1,437 Total charges $ 2,469 $ 7,201 $ 7,201
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 5,346 Cash payments charged against reserve (2,520) Non-cash adjustments (431) Balance at March 31, 2021 $ 2,395

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Mar. 31, 2021
Revenue Recognition [Abstract]
Disaggregation of Revenue	The following table provides information about revenue by end market: Three Months Ended Nine Months Ended March 31 March 31 (Amounts in Millions) 2021 2020 2021 2020 Workplace $ 78.9 $ 104.3 $ 261.6 $ 344.4 Health 24.6 30.2 72.2 87.3 Hospitality 35.2 43.7 89.0 140.1 Total Net Sales $ 138.7 $ 178.2 $ 422.8 $ 571.8

Leases (Tables)

Leases (Tables)	9 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Components of lease expense	The components of our lease expenses are as follows: Three Months Ended Nine Months Ended March 31 March 31 (Amounts in Millions) 2021 2020 2021 2020 Operating lease expense $ 1.3 $ 0.9 $ 3.1 $ 2.5 Variable lease expense 1.2 0.6 2.5 1.8 Total lease expense $ 2.5 $ 1.5 $ 5.6 $ 4.3
Supplemental cash flow and other information related to leases	Supplemental cash flow and other information related to leases are as follows: Nine Months Ended March 31 (Amounts in Millions) 2021 2020 Cash flow information: Operating lease payments impacting lease liability $ 4.2 $ 3.6 Non-cash impact of obtaining new right-of-use assets $ 5.1 $ 2.1 As of March 31 2021 2020 Other information: Weighted-average remaining term (in years) 4.4 6.1 Weighted-average discount rate 4.5 % 4.7 %
Future minimum lease payments	The following table summarizes the future minimum lease payments as of March 31, 2021: Fiscal Year Ended (Amounts in Millions) June 30 (1) 2021 $ 1.7 2022 6.6 2023 5.6 2024 3.4 2025 2.7 Thereafter 2.6 Total lease payments $ 22.6 Less interest 2.0 Present value of lease liabilities $ 20.6

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended Nine Months Ended March 31 March 31 (Amounts in Thousands, Except for Per Share Data) 2021 2020 2021 2020 Net Income (Loss) $ (4,529) $ 9,451 $ 19 $ 31,874 Average Shares Outstanding for Basic EPS Calculation 36,860 36,813 36,932 36,890 Dilutive Effect of Average Outstanding Compensation Awards — 276 597 344 Average Shares Outstanding for Diluted EPS Calculation 36,860 37,089 37,529 37,234 Basic Earnings (Loss) Per Share $ (0.12) $ 0.26 $ 0.00 $ 0.86 Diluted Earnings (Loss) Per Share $ (0.12) $ 0.25 $ 0.00 $ 0.86

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventory components were as follows: (Amounts in Thousands) March 31, June 30, Finished products $ 41,430 $ 29,081 Work-in-process 1,186 1,648 Raw materials 32,743 35,295 Total FIFO inventory 75,359 66,024 LIFO reserve (16,940) (16,167) Total inventory $ 58,419 $ 49,857

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	During the three months ended March 31, 2021 and 2020, 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 December 31, 2020 $ 4 $ 2,165 $ 2,169 Other comprehensive income (loss) before reclassifications (3) 129 126 Reclassification to (earnings) loss — (83) (83) Net current-period other comprehensive income (loss) (3) 46 43 Balance at March 31, 2021 $ 1 $ 2,211 $ 2,212 Balance at December 31, 2019 $ 8 $ 2,112 $ 2,120 Other comprehensive income (loss) before reclassifications 2 89 91 Reclassification to (earnings) loss — (61) (61) Net current-period other comprehensive income (loss) 2 28 30 Balance at March 31, 2020 $ 10 $ 2,140 $ 2,150 During the nine months ended March 31, 2021 and 2020, 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 (31) 353 322 Reclassification to (earnings) loss — (247) (247) Net current-period other comprehensive income (loss) (31) 106 75 Balance at March 31, 2021 $ 1 $ 2,211 $ 2,212 Balance at June 30, 2019 $ 23 $ 1,914 $ 1,937 Other comprehensive income (loss) before reclassifications (13) 419 406 Reclassification to (earnings) loss — (193) (193) Net current-period other comprehensive income (loss) (13) 226 213 Balance at March 31, 2020 $ 10 $ 2,140 $ 2,150
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 Nine Months Ended Affected Line Item in the Condensed Consolidated Statements of Income March 31 March 31 (Amounts in Thousands) 2021 2020 2021 2020 Postemployment Benefits Amortization of Actuarial Gain (1) $ 112 $ 82 $ 333 $ 260 Non-operating income (expense), net (29) (21) (86) (67) Benefit (Provision) for Income Taxes Total Reclassifications for the Period $ 83 $ 61 $ 247 $ 193 Net Income Amounts in parentheses indicate reductions to income. (1) See Note 16 - Postemployment Benefits

Short-Term and Long-Term Debt (

Short-Term and Long-Term Debt (Tables)	9 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Debt	Short-term borrowings and long-term debt consisted of the following obligations: (Amounts in Thousands) March 31, June 30, Short-term debt under credit facility due June 8, 2021; 1.56% $ 40,000 $ — PPP loan obtained in Poppin acquisition due April 23, 2022; 1.00% 2,503 — Other debt maturing August 12, 2025; 9.25% 109 136 Total Debt $ 42,612 $ 136

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	9 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	Changes in the product warranty accrual for the nine months ended March 31, 2021 and 2020 were as follows: Nine Months Ended March 31 (Amounts in Thousands) 2021 2020 Product Warranty Liability at the beginning of the period $ 3,190 $ 2,238 Additions to warranty accrual (including changes in estimates) 1,256 3,318 Settlements made (in cash or in kind) (1,643) (2,356) Product Warranty Liability at the end of the period $ 2,803 $ 3,200

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The recurring Level 3 fair value measurements of our contingent consideration liability include the following significant unobservable inputs: Contingent Consideration Liability Fair Value Valuation Technique Unobservable Inputs Range Selected Revenue and EBITDA Based Payments $ 31.8 million Discounted Cash Flow Revenue Discount Rate 4% to 6% 5 % EBITDA Volatility 30% to 52.5% 50 % Revenue Volatility 5% to 7% 7 %
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. 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. Contingent earn-out liability 3 Income - Based on a valuation model that measures the present value of the probable cash payments based upon the forecasted operating performance of the acquisition and a discount rate that captures the risk associated with the liability.
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	As of March 31, 2021 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: March 31, 2021 (Amounts in Thousands) Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 27,409 $ — $ — $ 27,409 Available-for-sale securities: Secondary market certificates of deposit — 501 — 501 Trading Securities: Mutual funds in nonqualified SERP 13,586 — — 13,586 Derivatives: Stock warrants — — 1,500 1,500 Total assets at fair value $ 40,995 $ 501 $ 1,500 $ 42,996 Liabilities Contingent earn-out liability — — 31,790 31,790 Total liabilities at fair value $ — $ — $ 31,790 $ 31,790 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	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.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Mar. 31, 2021
Investments [Abstract]
Schedule of Contractual Maturities on Investments	The contractual maturities of our investment portfolio were as follows: March 31, 2021 (Amounts in Thousands) Certificates of Deposit Within one year $ 501 After one year through two years — Total Fair Value $ 501
Unrealized Gain (Loss) on Investments	March 31, 2021 (Amounts in Thousands) Certificates of Deposit Amortized cost basis $ 500 Unrealized holding gains 1 Unrealized holding losses — Fair Value $ 501 June 30, 2020 (Amounts in Thousands) Certificates of Deposit 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) March 31, June 30, SERP investments - current asset $ 3,463 $ 3,622 SERP investments - other long-term asset 10,123 8,353 Total SERP investments $ 13,586 $ 11,975 SERP obligation - current liability $ 3,463 $ 3,622 SERP obligation - other long-term liability 10,123 8,353 Total SERP obligation $ 13,586 $ 11,975

Postemployment Benefits (Tables

Postemployment Benefits (Tables)	9 Months Ended
	Mar. 31, 2021
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 Nine Months Ended March 31 March 31 (Amounts in Thousands) 2021 2020 2021 2020 Service cost $ 118 $ 120 $ 361 $ 365 Interest cost 10 19 31 56 Amortization of actuarial income (112) (82) (333) (260) Net periodic benefit cost $ 16 $ 57 $ 59 $ 161

Stock Compensation (Tables)

Stock Compensation (Tables)	9 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [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 Relative Total Shareholder Return Performance Units (1) 2nd Quarter 17,285 $10.68 - $12.63 Restricted Stock Units (2) 1st Quarter 165,529 $10.94 - $11.28 Restricted Stock Units (2) 2nd Quarter 415,513 $11.08 - $12.25 Restricted Stock Units (2) 3rd Quarter 9,366 $12.09 - $12.81 Unrestricted Shares (3) 1st Quarter 12,592 $11.02 Unrestricted Shares (3) 2nd Quarter 11,042 $10.65 - $10.67 Unrestricted Shares (3) 3rd Quarter 13,014 $11.83 - $12.50 (1) Performance units were awarded to key officers under the Company’s Relative Total Shareholder Return program. Vesting occurs at June 30, 2021, June 30, 2022, and 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, excluding forfeited awards, is 190,664. (2) Restricted stock units were awarded to officers and key employees. Vesting occurs at June 30, 2021, December 31, 2021, June 30, 2022, December 31, 2022, June 30, 2023, and December 31, 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 and key employees 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.

Recent Accounting Pronounceme_4

Recent Accounting Pronouncements and Supplemental Information - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 09, 2020	Jun. 30, 2020
Accounting Standards and Supplemental Information [Line Items]
Goodwill impairment loss		$ 0
Goodwill	$ 83,133			$ 83,133			$ 11,160
Net Value	67,239			67,239			13,949
Amortization	2,510		$ 639	4,212	$ 1,707
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of fiscal year	2,516			2,516
Expected amortization expense, year one	9,423			9,423
Expected amortization expense, year two	8,585			8,585
Expected amortization expense, year three	7,985			7,985
Expected amortization expense, year four	7,782			7,782
Expected amortization expense, thereafter	30,948			30,948
Indefinite-lived intangible assets (excluding goodwill)	0			$ 0
Customary payment terms				30 days
Days beyond which terms are considered extended payment terms				30 days
Software and Software Development Costs | Minimum
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Useful life				2 years
Software and Software Development Costs | Maximum
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Useful life				10 years
Customer Relationships
Accounting Standards and Supplemental Information [Line Items]
Net Value	15,893			$ 15,893			5,179
Customer Relationships | Minimum
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Useful life				10 years
Customer Relationships | Maximum
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Useful life				20 years
Trade Names
Accounting Standards and Supplemental Information [Line Items]
Net Value	34,330			$ 34,330			2,618
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Useful life				10 years
Non-Compete Agreements
Accounting Standards and Supplemental Information [Line Items]
Net Value	32			$ 32			47
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Useful life				5 years
Acquired Technology
Accounting Standards and Supplemental Information [Line Items]
Net Value	6,691			$ 6,691			$ 0
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Useful life				7 years
Patents
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Useful life				14 years
Trademarks
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Useful life				15 years
Poppin, Inc.
Accounting Standards and Supplemental Information [Line Items]
Goodwill	71,973			$ 71,973		$ 71,973
Net Value	$ 52,400			$ 52,400

Recent Accounting Pronounceme_5

Recent Accounting Pronouncements and Supplemental Information - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Finite-Lived Intangible Assets
Cost	$ 106,659	$ 54,391
Accumulated Amortization	39,420	40,442
Net Value	67,239	13,949
Capitalized Software
Finite-Lived Intangible Assets
Cost	43,606	43,671
Accumulated Amortization	33,637	37,566
Net Value	9,969	6,105
Customer Relationships
Finite-Lived Intangible Assets
Cost	19,050	7,050
Accumulated Amortization	3,157	1,871
Net Value	15,893	5,179
Trade Names
Finite-Lived Intangible Assets
Cost	36,570	3,570
Accumulated Amortization	2,240	952
Net Value	34,330	2,618
Acquired Technology
Finite-Lived Intangible Assets
Cost	7,000	0
Accumulated Amortization	309	0
Net Value	6,691	0
Patents and Trademarks
Finite-Lived Intangible Assets
Cost	333	0
Accumulated Amortization	9	0
Net Value	324	0
Non-Compete Agreements
Finite-Lived Intangible Assets
Cost	100	100
Accumulated Amortization	68	53
Net Value	$ 32	$ 47

Recent Accounting Pronounceme_6

Recent Accounting Pronouncements and Supplemental Information - Components of Non-operating income (expense), net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Recent Accounting Pronouncements and Supplemental Information [Abstract]
Gain (Loss) on SERP Investments	$ 428	$ (1,784)	$ 2,567	$ (1,010)
Other	(117)	(294)	(133)	(350)
Non-operating income (expense), net	$ 311	$ (2,078)	$ 2,434	$ (1,360)

Acquisition - Narrative (Detail

Acquisition - Narrative (Details) - USD ($) $ in Thousands	Dec. 09, 2020	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Business Acquisition [Line Items]
Net sales		$ 138,676	$ 178,174	$ 422,817	$ 571,790
Net loss		(4,529)	$ 9,451	19	$ 31,874
Poppin, Inc.
Business Acquisition [Line Items]
Cash	$ 110,374			110,400
Contingent earn-out liability	31,800	31,800		31,800
Net sales		8,900		11,500
Net loss		4,000		5,000
Poppin, Inc. | Selling, General and Administrative Expenses
Business Acquisition [Line Items]
Acquisition related costs		$ 100		$ 3,400
Poppin, Inc. | Maximum
Business Acquisition [Line Items]
Contingent earn-out liability	$ 70,000

Acquisition - Schedule of Purch

Acquisition - Schedule of Purchase Price Allocation for Acquisition (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 09, 2020	Jun. 30, 2020
Assets
Goodwill	$ 83,133		$ 11,160
Poppin, Inc.
Assets
Cash		$ 5,768
Receivables		2,814
Inventories		15,718
Other current assets		700
Net property and equipment		975
Other intangible assets		52,394
Goodwill	$ 71,973	71,973
Right-of-use operating lease assets		5,103
Other long-term assets		4,161
Deferred tax assets		4,664
Total Assets		164,270
Liabilities
Current maturities of long-term debt		1,252
Accounts payable		7,715
Customer deposits		2,045
Current portion of operating lease liability		1,937
Accrued expenses		5,260
Long-term debt, less current maturities		1,252
Long-term operating lease liability		2,565
Other long-term liabilities		80
Total Liabilities		22,106
Net Assets		$ 142,164

Acquisition - Schedule of Consi

Acquisition - Schedule of Consideration for Acquisition (Details) - USD ($) $ in Thousands	Dec. 09, 2020	Mar. 31, 2021	Mar. 31, 2020
Business Acquisition, Contingent Consideration [Line Items]
Total consideration less acquired cash		$ 101,478	$ 0
Poppin, Inc.
Business Acquisition, Contingent Consideration [Line Items]
Cash	$ 110,374	$ 110,400
Contingent earn-out — fair value at acquisition date	31,790
Fair value of total consideration	142,164
Less: Acquired cash	5,768
Total consideration less acquired cash	$ 136,396

Acquisition - Goodwill (Details

Acquisition - Goodwill (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2021USD ($)
Goodwill [Roll Forward]
Goodwill end of the period	$ 83,133
Poppin, Inc.
Goodwill [Roll Forward]
Goodwill - at acquisition date	71,798
Adjustments to purchase price allocation	175
Goodwill end of the period	$ 71,973

Acquisition - Pro Forma Informa

Acquisition - Pro Forma Information (Details) - Poppin, Inc. - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Business Acquisition [Line Items]
Net Sales	$ 138,676	$ 199,021	$ 442,966	$ 635,078
Net Income (Loss)	$ (4,529)	$ 5,542	$ (3,187)	$ 21,894
Diluted Earnings (Loss) Per Share of Common Stock	$ (0.12)	$ 0.15	$ (0.08)	$ 0.59

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) $ in Thousands	3 Months Ended				9 Months Ended
	Mar. 31, 2021USD ($)	Sep. 30, 2020	Mar. 31, 2020USD ($)	Sep. 30, 2019showroom	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)
Restructuring Expense and Other Related Items
Restructuring expense	$ 2,617		$ 818		$ 8,473	$ 6,564
Number of closed showrooms | showroom				4
Restructuring period (in years)		2 years
Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring expense	148		$ 818		1,272	$ 6,564
Restructuring and related expected costs	11,300				$ 11,300
Percentage of restructuring costs expected in cash					55.00%
Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring expense	2,469				$ 7,201
Percentage of restructuring costs expected in cash					70.00%
Effect on future earnings, amount					$ 16,000
Severance and other employee related costs | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring and related expected costs	3,600				3,600
Facility exit costs and other cash charges | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring and related expected costs	3,600				3,600
Impairment of assets and accelerated depreciation | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring and related expected costs	4,100				4,100
Minimum | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and related expected costs	15,000				15,000
Restructuring and related cost expected cost, fiscal 2021	9,000				9,000
Minimum | Severance and other employee related costs | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and related expected costs	6,000				6,000
Minimum | Facility exit costs and other cash charges | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and related expected costs	3,800				3,800
Minimum | Impairment of assets and accelerated depreciation | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and related expected costs	5,200				5,200
Maximum | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and related expected costs	16,000				16,000
Restructuring and related cost expected cost, fiscal 2021	10,000				10,000
Maximum | Severance and other employee related costs | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and related expected costs	6,300				6,300
Maximum | Facility exit costs and other cash charges | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and related expected costs	4,400				4,400
Maximum | Impairment of assets and accelerated depreciation | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring and related expected costs	$ 5,300				$ 5,300

Restructuring - Charges related

Restructuring - Charges related to Transformation Restructuring Plan (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Restructuring Expense and Other Related Items
Restructuring expense	$ 2,617	$ 818	$ 8,473	$ 6,564
Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring expense	148	818	1,272	6,564
Charges Incurred to Date	10,698		10,698
Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring expense	2,469		7,201
Charges Incurred to Date	7,201		7,201
Cash-related restructuring charges: | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring expense	148	627	795	3,610
Charges Incurred to Date	5,657		5,657
Cash-related restructuring charges: | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring expense	2,017		5,764
Charges Incurred to Date	5,764		5,764
Cash-related restructuring charges: | Severance and other employee related costs | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring expense	0	203	62	2,194
Charges Incurred to Date	2,884		2,884
Cash-related restructuring charges: | Severance and other employee related costs | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring expense	1,404		4,915
Charges Incurred to Date	4,915		4,915
Cash-related restructuring charges: | Facility exit costs and other cash charges | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring expense	148	424	733	1,416
Charges Incurred to Date	2,773		2,773
Cash-related restructuring charges: | Facility exit costs and other cash charges | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring expense	613		849
Charges Incurred to Date	849		849
Non-cash charges: | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring expense	0	191	477	2,954
Charges Incurred to Date	5,041		5,041
Non-cash charges: | Transition stock compensation | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring expense	0	9	0	663
Charges Incurred to Date	725		725
Non-cash charges: | Impairment of assets and accelerated depreciation | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring expense	0	132	405	2,190
Charges Incurred to Date	4,095		4,095
Non-cash charges: | Impairment of assets and accelerated depreciation | Transformation Restructuring Plan Phase 2
Restructuring Expense and Other Related Items
Restructuring expense	452		1,437
Charges Incurred to Date	1,437		1,437
Non-cash charges: | Other non-cash charges | Transformation Restructuring Plan Phase 1
Restructuring Expense and Other Related Items
Restructuring expense	0	$ 50	72	$ 101
Charges Incurred to Date	$ 221		$ 221

Restructuring - Current Period

Restructuring - Current Period activity in accrued restructuring related to Transformation Restructuring Reserve (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2021USD ($)
Transformation Restructuring Plan Phase 1
Restructuring Reserve [Roll Forward]
Balance at the beginning of the period	$ 232
Additions charged to expense	62
Cash payments charged against reserve	(289)
Non-cash adjustments	(5)
Balance at the end of the period	0
Severance and other employee related costs | Transformation Restructuring Plan Phase 1
Restructuring Reserve [Roll Forward]
Balance at the beginning of the period	167
Additions charged to expense	62
Cash payments charged against reserve	(229)
Non-cash adjustments	0
Balance at the end of the period	0
Severance and other employee related costs | Transformation Restructuring Plan Phase 2
Restructuring Reserve [Roll Forward]
Balance at the beginning of the period	0
Additions charged to expense	5,346
Cash payments charged against reserve	(2,520)
Non-cash adjustments	(431)
Balance at the end of the period	2,395
Facility exit and other costs | Transformation Restructuring Plan Phase 1
Restructuring Reserve [Roll Forward]
Balance at the beginning of the period	65
Additions charged to expense	0
Cash payments charged against reserve	(60)
Non-cash adjustments	(5)
Balance at the end of the period	$ 0

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Net Sales	$ 138,676	$ 178,174	$ 422,817	$ 571,790
Workplace
Disaggregation of Revenue [Line Items]
Net Sales	78,900	104,300	261,600	344,400
Health
Disaggregation of Revenue [Line Items]
Net Sales	24,600	30,200	72,200	87,300
Hospitality
Disaggregation of Revenue [Line Items]
Net Sales	$ 35,200	$ 43,700	$ 89,000	$ 140,100

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	9 Months Ended
	Mar. 31, 2021USD ($)segment
Revenue Recognition and Deferred Revenue [Abstract]
Number of operating segments | segment	3
Customer deposit balance | $	$ 18.8

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Operating lease expense	$ 1.3	$ 0.9	$ 3.1	$ 2.5
Variable lease expense	1.2	0.6	2.5	1.8
Total lease expense	$ 2.5	$ 1.5	$ 5.6	$ 4.3

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow relating to Leases (Details) - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Operating lease payments impacting lease liability	$ 4.2	$ 3.6
Non-cash impact of obtaining new right-of-use assets	$ 5.1	$ 2.1
Weighted-average remaining term (in years)	4 years 4 months 24 days	6 years 1 month 6 days
Weighted-average discount rate	4.50%	4.70%

Leases - Summary of Future Leas

Leases - Summary of Future Lease Payments (Details) $ in Millions	Mar. 31, 2021USD ($)
Leases [Abstract]
2021	$ 1.7
2022	6.6
2023	5.6
2024	3.4
2025	2.7
Thereafter	2.6
Total lease payments	22.6
Less interest	2
Present value of lease liabilities	$ 20.6

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)showroom	Mar. 31, 2021USD ($)
Leases [Abstract]
Finance lease liability			$ 0
Right-of-use asset	$ 0.2	$ 2.2
Number of closed showrooms | showroom		4

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of EPS Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Net income (loss)	$ (4,529)	$ 9,451	$ 19	$ 31,874
Average Number of Shares Outstanding - Basic (in shares)	36,860	36,813	36,932	36,890
Dilutive Effect of Average Outstanding Compensation Awards (in shares)	0	276	597	344
Average Number of Shares Outstanding - Diluted (in shares)	36,860	37,089	37,529	37,234
Basic Earnings (Loss) Per Share (in dollars per share)	$ (0.12)	$ 0.26	$ 0	$ 0.86
Diluted Earnings (Loss) Per Share (in dollars per share)		$ 0.25	$ 0	$ 0.86

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2021shares
Restricted Stock Units (RSUs)
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	752
Relative Total Shareholder Return
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	166

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation percent	39.80%	23.50%	102.10%	26.70%
Poppin, Inc. | Domestic Tax Authority
Income Tax Contingency [Line Items]
Operating loss carryforwards					$ 72.7
Operating loss carryforwards before tax limitation					75.7
Operating losses expiring after carryforward period	$ 60.1		$ 60.1
Poppin, Inc. | State and Local Jurisdiction
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 66.7		$ 66.7
Operating loss carryforwards before tax limitation					$ 91.3

Inventories - Inventory Compone

Inventories - Inventory Components (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2021	Mar. 31, 2021	Jun. 30, 2020
Inventory Disclosure [Abstract]
Finished products	$ 41,430	$ 41,430	$ 29,081
Work-in-process	1,186	1,186	1,648
Raw materials	32,743	32,743	35,295
Total FIFO inventory	75,359	75,359	66,024
LIFO reserve	(16,940)	(16,940)	(16,167)
Total inventory	58,419	58,419	$ 49,857
Earnings impact of LIFO inventory liquidations	$ 432	$ 605

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income- Schedule of Balances of Each Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Accumulated Other Comprehensive Income
Balance at the beginning of the period	$ 244,012	$ 232,589	$ 244,796	$ 216,490
Other comprehensive income (loss) before reclassifications	126	91	322	406
Reclassification to (earnings) loss	(83)	(61)	(247)	(193)
Net current-period other comprehensive income (loss)	43	30	75	213
Balance at the end of the period	236,459	238,250	236,459	238,250
Unrealized Investment Gain (Loss)
Accumulated Other Comprehensive Income
Balance at the beginning of the period	4	8	32	23
Other comprehensive income (loss) before reclassifications	(3)	2	(31)	(13)
Reclassification to (earnings) loss	0	0	0	0
Net current-period other comprehensive income (loss)	(3)	2	(31)	(13)
Balance at the end of the period	1	10	1	10
Postemployment Benefits Net Actuarial Gain (Loss)
Accumulated Other Comprehensive Income
Balance at the beginning of the period	2,165	2,112	2,105	1,914
Other comprehensive income (loss) before reclassifications	129	89	353	419
Reclassification to (earnings) loss	(83)	(61)	(247)	(193)
Net current-period other comprehensive income (loss)	46	28	106	226
Balance at the end of the period	2,211	2,140	2,211	2,140
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income
Balance at the beginning of the period	2,169	2,120	2,137	1,937
Balance at the end of the period	$ 2,212	$ 2,150	$ 2,212	$ 2,150

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income - Reclassifications from Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Reclassification Adjustment from Accumulated Other Comprehensive Income
Non-operating income (expense), net	$ 311	$ (2,078)	$ 2,434	$ (1,360)
Provision (Benefit) for Income Taxes	2,992	(2,906)	919	(11,585)
Net Income	(4,529)	9,451	19	31,874
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment from Accumulated Other Comprehensive Income
Net Income	83	61	247	193
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Including Portion Attributable to Noncontrolling Interest
Reclassification Adjustment from Accumulated Other Comprehensive Income
Non-operating income (expense), net	112	82	333	260
Provision (Benefit) for Income Taxes	$ (29)	$ (21)	$ (86)	$ (67)

Short-Term and Long-Term Debt -

Short-Term and Long-Term Debt - Schedule of Short-term and Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Short-term debt	$ 40,000	$ 0
Total Debt	42,612	136
Credit Facility
Debt Instrument [Line Items]
Short-term debt	$ 40,000	0
Interest rate, stated percentage	1.56%
PPP Loan
Debt Instrument [Line Items]
Other Debt	$ 2,503	0
Interest rate, stated percentage	1.00%
Other Debt
Debt Instrument [Line Items]
Other Debt	$ 109	$ 136
Interest rate, stated percentage	9.25%

Short-Term and Long-Term Debt_2

Short-Term and Long-Term Debt - Narrative (Details)	3 Months Ended		9 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 125,000,000		$ 125,000,000
Maximum borrowing capacity upon request	200,000,000		200,000,000
Amount available for letters of credit	10,000,000		10,000,000
Line of credit facility, remaining borrowing capacity	83,300,000		83,300,000
Interest paid on borrowings	182,000	$ 0	211,000	$ 15,000
Adjusted leverage ratio, indebtedness reduction for excess cash	$ 15,000,000		$ 15,000,000
Adjusted leverage ratio covenant	3		3
Interest coverage ratio covenant	3		3
London Interbank Offered Rate (LIBOR) | Primary Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate charged over index rate			1.00%
Federal Funds Rate
Debt Instrument [Line Items]
Interest rate charged over index rate			0.50%
Minimum | Eurocurrency Loans Margin
Debt Instrument [Line Items]
Interest rate (basis points)			0.01250
Minimum | Alternate Base Rate Loans Spread
Debt Instrument [Line Items]
Interest rate (basis points)			0.00250
Maximum
Debt Instrument [Line Items]
Adjusted leverage ratio, indebtedness reduction for excess cash	$ 35,000,000		$ 35,000,000
Maximum | Eurocurrency Loans Margin
Debt Instrument [Line Items]
Interest rate (basis points)			0.02000
Maximum | Alternate Base Rate Loans Spread
Debt Instrument [Line Items]
Interest rate (basis points)			0.01000
Financial Standby Letter of Credit
Debt Instrument [Line Items]
Letters of credit, amount	$ 1,700,000		$ 1,700,000

Commitments and Contingent Li_3

Commitments and Contingent Liabilities - Narrative (Details) $ in Thousands	Mar. 31, 2021USD ($)
Financial Standby Letter of Credit
Guarantor Obligations
Letters of credit, amount	$ 1,700
Standby Letters of Credit
Guarantor Obligations
Loss Contingency Accrual, at Carrying Value	0
Performance Guarantee
Guarantor Obligations
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 8,100

Commitments and Contingent Li_4

Commitments and Contingent Liabilities - Product Warranty (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Movement in Standard Product Warranty Accrual [Roll Forward]
Product Warranty Liability at the beginning of the period	$ 3,190	$ 2,238
Additions to warranty accrual (including changes in estimates)	1,256	3,318
Settlements made (in cash or in kind)	(1,643)	(2,356)
Product Warranty Liability at the end of the period	$ 2,803	$ 3,200

Fair Value - Narrative (Details

Fair Value - Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)showroom	Mar. 31, 2021USD ($)showroom	Dec. 09, 2020USD ($)	Jun. 30, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Changes in inputs and valuation techniques | showroom			0
Investment owned, at cost			$ 2,000
Purchases of level 3 assets			0
Sales of level 3 assets			0
Impairment loss	$ 200	$ 2,200
Number of showrooms consolidated | showroom		4
Poppin, Inc.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent earn-out liability			31,800	$ 31,800
Poppin, Inc. | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent earn-out liability				$ 70,000
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent earn-out liability			31,790
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent earn-out liability			0
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent earn-out liability			0
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Equity securities not readily marketable			500
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Contingent earn-out liability			31,790
Warrant | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Derivative asset, fair value, gross asset			1,500		$ 1,500
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		$ 1,500
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

Fair Value - Recurring Fair Val

Fair Value - Recurring Fair Value Measurements, Unobservable Input Reconciliation (Details) $ in Thousands	Mar. 31, 2021USD ($)	Jun. 30, 2020USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent earn-out liability	$ 31,790	$ 0
Poppin, Inc.
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent earn-out liability	$ 31,800
Revenue Discount Rate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Measurement input	0.05
Revenue Discount Rate | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Measurement input	0.04
Revenue Discount Rate | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Measurement input	0.06
EBITDA Volatility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Measurement input	0.50
EBITDA Volatility | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Measurement input	0.30
EBITDA Volatility | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Measurement input	0.525
Revenue Volatility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Measurement input	0.07
Revenue Volatility | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Measurement input	0.05
Revenue Volatility | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Measurement input	0.07

Fair Value - Recurring Fair V_2

Fair Value - Recurring Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Assets
Trading Securities: Mutual funds in nonqualified SERP	$ 13,586	$ 11,975
Certificates of Deposit
Assets
Available-for-sale securities: Secondary market certificates of deposit	501	5,294
Fair Value, Measurements, Recurring
Assets
Total assets at fair value	42,996	109,804
Liabilities
Contingent earn-out liability	31,790
Total liabilities at fair value	31,790
Fair Value, Measurements, Recurring | Warrant
Assets
Derivatives: Stock warrants	1,500	1,500
Fair Value, Measurements, Recurring | Money Market Funds
Assets
Cash equivalents: Money market funds	27,409	91,035
Fair Value, Measurements, Recurring | Certificates of Deposit
Assets
Available-for-sale securities: Secondary market certificates of deposit	501	5,294
Fair Value, Measurements, Recurring | Mutual Fund
Assets
Trading Securities: Mutual funds in nonqualified SERP	13,586	11,975
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1
Assets
Total assets at fair value	40,995	103,010
Liabilities
Contingent earn-out liability	0
Total liabilities at fair value	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Warrant
Assets
Derivatives: Stock warrants	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Money Market Funds
Assets
Cash equivalents: Money market funds	27,409	91,035
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Certificates of Deposit
Assets
Available-for-sale securities: Secondary market certificates of deposit	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 1 | Mutual Fund
Assets
Trading Securities: Mutual funds in nonqualified SERP	13,586	11,975
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Assets
Total assets at fair value	501	5,294
Liabilities
Contingent earn-out liability	0
Total liabilities at fair value	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Warrant
Assets
Derivatives: Stock warrants	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Money Market Funds
Assets
Cash equivalents: Money market funds	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Certificates of Deposit
Assets
Available-for-sale securities: Secondary market certificates of deposit	501	5,294
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2 | Mutual Fund
Assets
Trading Securities: Mutual funds in nonqualified SERP	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3
Assets
Total assets at fair value	1,500	1,500
Liabilities
Contingent earn-out liability	31,790
Total liabilities at fair value	31,790
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Warrant
Assets
Derivatives: Stock warrants	1,500	1,500
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Money Market Funds
Assets
Cash equivalents: Money market funds	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Certificates of Deposit
Assets
Available-for-sale securities: Secondary market certificates of deposit	0	0
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | Mutual Fund
Assets
Trading Securities: Mutual funds in nonqualified SERP	$ 0	$ 0

Investments - Schedule of Contr

Investments - Schedule of Contractual Maturities on Investments (Details) - Certificates of Deposit - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Schedule of Investments [Line Items]
Within one year	$ 501
After one year through two years	0
Total Fair Value	$ 501	$ 5,294

Investments - Unrealized Gain (

Investments - Unrealized Gain (Loss) on Investments (Details) - Certificates of Deposit - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized cost basis	$ 500	$ 5,250
Unrealized holding gains	1	44
Unrealized holding losses	0	0
Fair Value	$ 501	$ 5,294

Investments - Supplemental Empl

Investments - Supplemental Employee Retirement Investments Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Investments [Abstract]
Unrealized holding gains	$ 2,051	$ 1,569

Investments - Supplemental Em_2

Investments - Supplemental Employee Retirement Plan Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Schedule of Trading Securities and Other Trading Assets
Total SERP investments	$ 13,586	$ 11,975
Total SERP obligation	13,586	11,975
Short-term Investments
Schedule of Trading Securities and Other Trading Assets
Total SERP investments	3,463	3,622
Total SERP obligation	3,463	3,622
Other Long-term Investments
Schedule of Trading Securities and Other Trading Assets
Total SERP investments	10,123	8,353
Total SERP obligation	$ 10,123	$ 8,353

Investments - Investments - Equ

Investments - Investments - Equity securities without readily determinable fair value Textuals (Details) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2021USD ($)
Continuous unrealized loss position, accumulated loss	$ 0	$ 0
Realized gains or losses as a result of sales	0	0
Investment owned, at cost	2	2
Other Assets | Preferred Stock
Equity securities without readily determinable fair value	$ 0.5	$ 0.5

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2021	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

Postemployment Benefits (Detail

Postemployment Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Postemployment Benefits [Abstract]
Service cost	$ 118	$ 120	$ 361	$ 365
Interest cost	10	19	31	56
Amortization of actuarial income	(112)	(82)	(333)	(260)
Net periodic benefit cost	$ 16	$ 57	$ 59	$ 161

Stock Compensation - Narrative

Stock Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Share-based compensation expense	$ 1.8	$ 1.3	$ 4	$ 4.5
Share-based payment arrangement, expense, tax benefit	$ 0.5	$ 0.4	$ 1	$ 1.2
Relative Total Shareholder Return | Minimum
Payout percentage	0.00%		0.00%
Relative Total Shareholder Return | Maximum
Payout percentage	200.00%		200.00%
Number of shares available for grant (in shares)	190,664		190,664

Stock Compensation - Schedule o

Stock Compensation - Schedule of Awards (Details) - $ / shares	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020
Relative Total Shareholder Return
Share-based Compensation Arrangement by Share-based Payment Award
Targeted Shares or Units (in shares)		17,285	82,036
Grant Date Fair Value (in dollars per share)			$ 11.35
Relative Total Shareholder Return | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Grant Date Fair Value (in dollars per share)		$ 10.68
Relative Total Shareholder Return | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Grant Date Fair Value (in dollars per share)		$ 12.63
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Targeted Shares or Units (in shares)	9,366	415,513	165,529
Restricted Stock Units (RSUs) | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Grant Date Fair Value (in dollars per share)	$ 12.09	$ 11.08	$ 10.94
Restricted Stock Units (RSUs) | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Grant Date Fair Value (in dollars per share)	$ 12.81	$ 12.25	$ 11.28
Unrestricted Shares
Share-based Compensation Arrangement by Share-based Payment Award
Targeted Shares or Units (in shares)	13,014	11,042	12,592
Grant Date Fair Value (in dollars per share)			$ 11.02
Unrestricted Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Grant Date Fair Value (in dollars per share)	$ 11.83	$ 10.65
Unrestricted Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Grant Date Fair Value (in dollars per share)	$ 12.50	$ 10.67

Variable Interest Entities (Det

Variable Interest Entities (Details) - Variable Interest Entity, Not Primary Beneficiary - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2021	Jun. 30, 2020
Variable Interest Entity
Obligation to provide additional funding, amount	$ 0
Receivables and Other Assets | Independent Dealership Financing | Notes Receivable
Variable Interest Entity
Notes receivable, net of allowance	$ 0.6	$ 0.9