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SHAREHOLDERS' EQUITY | 9 Months Ended
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Jun. 30, 2019
Stockholders' Equity Note [Abstract] |
SHAREHOLDERS' EQUITY | SHAREHOLDERS’ EQUITY Our Board of Directors (the "Board") has authorized the Company to repurchase up to four million common shares per calendar year. The repurchases may be made using our cash and cash equivalents or other available sources. We had no purchases of common shares during the nine months ended June 30, 2019 and 2018. Components of accumulated other comprehensive loss were as follows:
(in thousands) | June 30, 2019 |  | September 30, 2018
Pre-tax amounts: |  |  |
Unrealized appreciation on securities (1) | $ | — |  |  | $ | 44,023 |
Unrealized actuarial loss | (20,818 | ) |  | (21,693 | )
| $ | (20,818 | ) |  | $ | 22,330 |
After-tax amounts: |  |  |
Unrealized appreciation on securities (1) | $ | — |  |  | $ | 29,071 |
Unrealized actuarial loss | (16,085 | ) |  | (12,521 | )
| $ | (16,085 | ) |  | $ | 16,550 |
(1) | As disclosed in Note 2—Summary of Significant Accounting Policies, Risks and Uncertainties, we adopted ASU No. 2016-01 on October 1, 2018. The standard requires that changes in the fair value of our equity investments must be recognized in net income.
The following is a summary of the changes in accumulated other comprehensive loss, net of tax, by component for the three and nine months ended June 30, 2019:
| Three Months Ended June 30, 2019
(in thousands) | Defined Benefit Pension Plan
Balance at March 31, 2019 | $ | (12,072 | )
Adoption of ASU No. 2018-02 (1) | (4,239 | )
| (16,311 | )
Activity during the period |
Amounts reclassified from accumulated other comprehensive loss | 226 |
Net current-period other comprehensive loss | 226 |
Balance at June 30, 2019 | $ | (16,085 | )
(1) | As disclosed in Note 2—Summary of Significant Accounting Policies, Risks and Uncertainties, we adopted ASU No. 2018-02 as of June 30, 2019. The standard permits the reclassification of certain income tax effects of the Tax Reform Act from Accumulated Other Comprehensive Income (Loss) to Retained Earnings.
| Nine Months Ended June 30, 2019
(in thousands) | Unrealized Appreciation on Equity Securities |  | Defined Benefit Pension Plan |  | Total
Balance at September 30, 2018 | $ | 29,071 |  |  | $ | (12,521 | ) |  | $ | 16,550 |
Adoption of ASU No. 2016-01 (1) | (29,071 | ) |  | — |  |  | (29,071 | )
Adoption of ASU No. 2018-02 (2) | — |  |  | (4,239 | ) |  | (4,239 | )
| — |  |  | (16,760 | ) |  | (16,760 | )
Activity during the period |  |  |  |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 675 |  |  | 675 |
Net current-period other comprehensive loss | — |  |  | 675 |  |  | 675 |
Balance at June 30, 2019 | $ | — |  |  | $ | (16,085 | ) |  | $ | (16,085 | )
(1) | As disclosed in Note 2—Summary of Significant Accounting Policies, Risks and Uncertainties, we adopted ASU No. 2016-01 on October 1, 2018. The transition provisions enforced upon adoption require any unrealized gains or losses as of October 1, 2018 to be recognized in the beginning balance of equity.
(2) | As disclosed in Note 2—Summary of Significant Accounting Policies, Risks and Uncertainties, we adopted ASU No. 2018-02 as of June 30, 2019. The standard permits the reclassification of certain income tax effects of the Tax Reform Act from Accumulated Other Comprehensive Income (Loss) to Retained Earnings.
The following provides detail about accumulated other comprehensive loss components, which were reclassified to the Unaudited Condensed Consolidated Statements of Operations:
| Reclassified from Accumulated Other Comprehensive Income (Loss) |  | Reclassified from Accumulated Other Comprehensive Income (Loss) |  | Affected Line Item in the Consolidated Statements of Operations
| Three Months Ended June 30, |  | Nine Months Ended June 30, |
(in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018 |
Amortization of net actuarial loss on defined benefit pension plan | $ | (291 | ) |  | $ | (461 | ) |  | $ | (874 | ) |  | $ | (1,382 | ) |  | Other income (expense)
| 65 |  |  | 124 |  |  | 199 |  |  | 397 |  |  | Income tax provision
Total reclassifications for the period | $ | (226 | ) |  | $ | (337 | ) |  | $ | (675 | ) |  | $ | (985 | ) |  | Net of tax
A cash dividend of $0.71 per share was declared on March 6, 2019 for shareholders of record on May 13, 2019, and was paid on June 3, 2019. An additional cash dividend of $0.71 per share was declared on June 5, 2019 for shareholders of record on August 12, 2019, payable on September 3, 2019. The dividend payable is included in accounts payable in the Unaudited Condensed Consolidated Balance Sheets.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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