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EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
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Sep. 30, 2022
Retirement Benefits [Abstract] |
Schedule of Reconciliation of the Changes in the Pension Benefit Obligations and Fair Value of Pension Plan Assets | The following table provides a reconciliation of the changes in the pension benefit obligations and fair value of Pension Plan assets over the two-year period ended September 30, 2022 and a statement of the funded status as of September 30, 2022 and 2021:
| September 30,
(in thousands) | 2022 |  | 2021
Accumulated benefit obligation | $ | 60,463 |  |  | $ | 110,352 |
Changes in projected benefit obligations: |  |  |
Projected benefit obligation at beginning of year | $ | 110,352 |  |  | $ | 116,146 |
Interest cost | 2,537 |  |  | 2,925 |
Actuarial (gain) loss | (16,260) |  |  | 7,111 |
Benefits paid | (36,166) |  |  | (15,749) |
Other | — |  |  | (81) |
Projected benefit obligation at end of year | $ | 60,463 |  |  | $ | 110,352 |
Change in plan assets: |  |  |
Fair value of plan assets at beginning of year | $ | 87,255 |  |  | $ | 86,103 |
Actual return on plan assets | (14,324) |  |  | 11,835 |
Employer contribution | 5,000 |  |  | 5,066 |
Benefits paid | (36,167) |  |  | (15,749) |
Fair value of plan assets at end of year | $ | 41,764 |  |  | $ | 87,255 |
Funded status of the plan at end of year | $ | (18,699) |  |  | $ | (23,097) |
Schedule of Amounts Recognized in the Consolidated Balance Sheets | The amounts recognized in the Consolidated Balance Sheets at September 30, 2022 and 2021 are as follows:
| September 30,
(in thousands) | 2022 |  | 2021
Accrued liabilities | $ | — |  |  | $ | — |
Noncurrent liabilities-other | (18,699) |  |  | (23,097) |
Net amount recognized | $ | (18,699) |  |  | $ | (23,097) |
Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss) and Not Yet Reflected in Net Periodic Benefit Cost | The amounts recognized in Accumulated Other Comprehensive Income (Loss) at September 30, 2022 and 2021, and not yet reflected in net periodic benefit cost, are as follows:
| September 30,
(in thousands) | 2022 |  | 2021
Net actuarial loss | $ | 15,703 |  |  | $ | 26,268 |
Schedule of Weighted Average Assumptions Used for the Pension Calculations | The weighted average assumptions used for the pension calculations were as follows:
| September 30,
| 2022 |  | 2021 |  | 2020
Discount rate for net periodic benefit costs | 2.75 | % |  | 2.66 | % |  | 3.16 | %
Discount rate for year-end obligations | 5.44 | % |  | 2.75 | % |  | 2.66 | %
Expected return on plan assets | 4.25 | % |  | 3.50 | % |  | 4.65 | %
Schedule of Components of the Net Periodic Pension (Benefit) | Components of the net periodic pension expense were as follows:
| Year Ended September 30,
(in thousands) | 2022 |  | 2021 |  | 2020
Interest cost | $ | 2,537 |  |  | $ | 2,925 |  |  | $ | 3,598 |
Expected return on plan assets 1 | (2,481) |  |  | (3,722) |  |  | (4,784) |
Recognized net actuarial loss | 2,080 |  |  | 3,205 |  |  | 2,718 |
Settlement expense | 9,031 |  |  | 3,448 |  |  | 3,001 |
Other | — |  |  | (81) |  |  | — |
Net pension expense | $ | 11,167 |  |  | $ | 5,775 |  |  | $ | 4,533 |
(1)The Company uses the fair value of plan assets in determining the expected return on plan assets.
Schedule of Expected Benefits to be Paid from the Pension Plan in Each of the Next Five Fiscal Years and Thereafter | The following table reflects the expected benefits to be paid from the Pension Plan in each of the next five fiscal years, and in the aggregate for the five years thereafter (in thousands):
Year Ended September 30,
2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 – 2032 |  | Total
$ | 5,479 |  |  | $ | 5,049 |  |  | $ | 5,614 |  |  | $ | 5,088 |  |  | $ | 5,376 |  |  | $ | 22,827 |  |  | $ | 49,433 |
Schedule of Target Allocation and Asset Allocation for the Pension Plan | The target allocation for 2023 and the asset allocation for the Pension Plan at the end of fiscal years 2022 and 2021, by asset category, were as follows:
| Target Allocation |  | September 30,
Asset Category | 2023 |  | 2022 |  | 2021
U.S. equities | 17 | % |  | 18 | % |  | 46 | %
International equities | 12 |  |  | 11 |  |  | 17 |
Fixed income | 71 |  |  | 71 |  |  | 37 |
Total | 100 | % |  | 100 | % |  | 100 | %
Schedule of Fair Value of Pension Plan Assets | The fair value of Pension Plan assets at September 30, 2022 and 2021, summarized by level within the fair value hierarchy described in Note 13—Fair Value Measurement of Financial Instruments, are as follows:
| September 30, 2022
(in thousands) | Total |  | Level 1 |  | Level 2 |  | Level 3
Short-term investments | $ | 555 |  |  | $ | 555 |  |  | $ | — |  |  | $ | — |
Mutual funds: |  |  |  |  |  |  |
Domestic stock funds | 7,318 |  |  | 7,318 |  |  | — |  |  | — |
Bond funds | 29,093 |  |  | 29,093 |  |  | — |  |  | — |
International stock funds | 4,739 |  |  | 4,739 |  |  | — |  |  | — |
Total mutual funds | 41,150 |  |  | 41,150 |  |  | — |  |  | — |
Oil and gas properties | 59 |  |  | — |  |  | — |  |  | 59 |
Total | $ | 41,764 |  |  | $ | 41,705 |  |  | $ | — |  |  | $ | 59 |
| September 30, 2021
(in thousands) | Total |  | Level 1 |  | Level 2 |  | Level 3
Short-term investments | $ | 2,444 |  |  | $ | 2,444 |  |  | $ | — |  |  | $ | — |
Mutual funds: |  |  |  |  |  |  |
Domestic stock funds | 35,212 |  |  | 35,212 |  |  | — |  |  | — |
Bond funds | 17,679 |  |  | 17,679 |  |  | — |  |  | — |
Balanced funds | 17,520 |  |  | 17,520 |  |  | — |  |  | — |
International stock funds | 14,379 |  |  | 14,379 |  |  | — |  |  | — |
Total mutual funds | 84,790 |  |  | 84,790 |  |  | — |  |  | — |
Oil and gas properties | 21 |  |  | — |  |  | — |  |  | 21 |
Total | $ | 87,255 |  |  | $ | 87,234 |  |  | $ | — |  |  | $ | 21 |

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