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Retirement Benefits (Tables)
12 Months Ended
Sep. 30, 2016
Pension Plans, Defined Benefit [Member]  
Schedule of Net Periodic Benefit Costs



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Year Ended September 30,



 

United States

 

Other Countries

 

Total



 

2016

 

2015

 

2014

 

2016

 

2015

 

2014

 

2016

 

2015

 

2014

Service cost

 

$

1,695 

 

$

2,018 

 

$

3,516 

 

$

749 

 

$

784 

 

$

988 

 

$

2,444 

 

$

2,802 

 

$

4,504 

Interest cost

 

 

5,236 

 

 

5,956 

 

 

6,382 

 

 

1,637 

 

 

2,128 

 

 

2,410 

 

 

6,873 

 

 

8,084 

 

 

8,792 

Expected return on plan assets

 

 

(10,140)

 

 

(10,647)

 

 

(9,813)

 

 

(2,659)

 

 

(3,032)

 

 

(3,070)

 

 

(12,799)

 

 

(13,679)

 

 

(12,883)

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net losses

 

 

1,292 

 

 

396 

 

 

330 

 

 

246 

 

 

190 

 

 

655 

 

 

1,538 

 

 

586 

 

 

985 

Net prior service (benefit) cost

 

 

384 

 

 

383 

 

 

97 

 

 

 -

 

 

 -

 

 

(4)

 

 

384 

 

 

383 

 

 

93 

Settlement loss

 

 

47 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

47 

 

 

 -

 

 

 -

Curtailment gain

 

 

 -

 

 

 -

 

 

(6,624)

 

 

 -

 

 

 -

 

 

(915)

 

 

 -

 

 

 -

 

 

(7,539)

Net periodic (benefit) cost

 

$

(1,486)

 

$

(1,894)

 

$

(6,112)

 

$

(27)

 

$

70 

 

$

64 

 

$

(1,513)

 

$

(1,824)

 

$

(6,048)



Schedule of Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

At or for the Year Ended September 30,



 

United States

 

Other Countries

 

Total



 

2016

 

2015

 

2016

 

2015

 

2016

 

2015

Changes in projected benefit obligation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Projected benefit obligation at beginning of year

 

$

145,870 

 

$

137,740 

 

$

62,231 

 

$

63,535 

 

$

208,101 

 

$

201,275 

Service cost

 

 

1,695 

 

 

2,018 

 

 

749 

 

 

784 

 

 

2,444 

 

 

2,802 

Interest cost

 

 

5,236 

 

 

5,956 

 

 

1,637 

 

 

2,128 

 

 

6,873 

 

 

8,084 

Net actuarial losses

 

 

17,786 

 

 

4,206 

 

 

17,190 

 

 

2,715 

 

 

34,976 

 

 

6,921 

Contribution by participants

 

 

47 

 

 

28 

 

 

20 

 

 

23 

 

 

67 

 

 

51 

Benefits paid

 

 

(9,789)

 

 

(4,078)

 

 

(2,656)

 

 

(2,424)

 

 

(12,445)

 

 

(6,502)

Settlements

 

 

47 

 

 

 -

 

 

 -

 

 

 -

 

 

47 

 

 

 -

Foreign currency exchange rate changes

   

 

 -

 

 

 -

 

 

(7,114)

 

 

(4,530)

 

 

(7,114)

 

 

(4,530)

Projected benefit obligation at end of year

 

$

160,892 

 

$

145,870 

 

$

72,057 

 

$

62,231 

 

$

232,949 

 

$

208,101 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Changes in fair value of plan assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair value of plan assets at beginning of year

 

$

135,590 

 

$

142,090 

 

$

60,663 

 

$

63,071 

 

$

196,253 

 

$

205,161 

Actual return (loss) on plan assets

 

 

19,859 

 

 

(2,535)

 

 

10,202 

 

 

2,975 

 

 

30,061 

 

 

440 

Contributions by the Company

 

 

226 

 

 

85 

 

 

773 

 

 

1,483 

 

 

999 

 

 

1,568 

Contributions by plan participants

 

 

47 

 

 

28 

 

 

20 

 

 

23 

 

 

67 

 

 

51 

Benefits paid

 

 

(9,789)

 

 

(4,078)

 

 

(2,656)

 

 

(2,424)

 

 

(12,445)

 

 

(6,502)

Settlements

 

 

(47)

 

 

 -

 

 

 -

 

 

 -

 

 

(47)

 

 

 -

Foreign currency exchange rate changes

 

 

 -

 

 

 -

 

 

(6,076)

 

 

(4,465)

 

 

(6,076)

 

 

(4,465)

Fair value of plan assets at end of year

   

$

145,886 

 

$

135,590 

 

$

62,926 

 

$

60,663 

 

$

208,812 

 

$

196,253 

Net underfunded status at end of year

 

$

(15,006)

 

$

(10,280)

 

$

(9,131)

 

$

(1,568)

 

$

(24,137)

 

$

(11,848)



Schedule of Accumulated Benefit Obligations In Excess of and Less Than Fair Value of Plan Assets



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Plans with accumulated benefit obligation in excess of plan assets

 

Plans with accumulated benefit obligation less than plan assets



 

At September 30,

 

At September 30,



 

2016

 

2015

 

2016

 

2015

Projected benefit obligation

 

$

(220,788)

 

$

(198,165)

 

$

(12,161)

 

$

(9,936)

Accumulated benefit obligation

 

 

(218,769)

 

 

(196,694)

 

 

(10,924)

 

 

(8,918)

Fair value of plan assets

 

 

196,800 

 

 

185,623 

 

 

12,012 

 

 

10,630 



Schedule of Amounts Recognized in Balance Sheet and Other Comprehensive Income (Loss)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

At or for the Year Ended September 30,



 

United States

 

Other Countries

 

Total



 

2016

 

2015

 

2016

 

2015

 

2016

 

2015

Amounts recognized in statement of financial position
consist of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other non-current assets

 

$

 -

 

$

 -

 

$

 -

 

$

694 

 

$

 -

 

$

694 

Other non-current liabilities

 

 

(15,006)

 

 

(10,280)

 

 

(9,131)

 

 

(2,262)

 

 

(24,137)

 

 

(12,542)

Net underfunded status at end of year

 

$

(15,006)

 

$

(10,280)

 

$

(9,131)

 

$

(1,568)

 

$

(24,137)

 

$

(11,848)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amounts recognized in accumulated other
comprehensive losses consist of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrecognized net prior service cost

 

$

3,857 

 

$

4,241 

 

$

 -

 

$

 -

 

$

3,857 

 

$

4,241 

Unrecognized net losses

 

 

33,682 

 

 

26,861 

 

 

20,795 

 

 

13,618 

 

 

54,477 

 

 

40,479 

Total amounts recognized

 

 

37,539 

 

 

31,102 

 

 

20,795 

 

 

13,618 

 

 

58,334 

 

 

44,720 

Deferred taxes

 

 

(14,305)

 

 

(11,890)

 

 

(7,303)

 

 

(4,817)

 

 

(21,608)

 

 

(16,707)

Amounts recognized in accumulated other comprehensive losses

 

$

23,234 

 

$

19,212 

 

$

13,492 

 

$

8,801 

 

$

36,726 

 

$

28,013 



Schedule of Changes in Plan Assets and Benefit Obligations Recorded in Other Comprehensive Income (Loss)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Year Ended September 30,



 

United States

 

Other Countries

 

Total



 

2016

 

2015

 

2016

 

2015

 

2016

 

2015

Accumulated other comprehensive losses at beginning of year

 

$

31,102 

 

$

14,491 

 

$

13,618 

 

$

11,902 

 

$

44,720 

 

$

26,393 

Net loss

 

 

8,160 

 

 

17,390 

 

 

9,646 

 

 

2,771 

 

 

17,806 

 

 

20,161 

Loss due to settlement or curtailment arising during the period

 

 

(47)

 

 

 -

 

 

 -

 

 

 -

 

 

(47)

 

 

 -

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net losses

 

 

(1,292)

 

 

(396)

 

 

(246)

 

 

(190)

 

 

(1,538)

 

 

(586)

Prior service cost

 

 

(384)

 

 

(383)

 

 

 -

 

 

 -

 

 

(384)

 

 

(383)

Foreign currency exchange rate changes

 

 

 -

 

 

 -

 

 

(2,223)

 

 

(865)

 

 

(2,223)

 

 

(865)

Accumulated other comprehensive losses at end of year

 

$

37,539 

 

$

31,102 

 

$

20,795 

 

$

13,618 

 

$

58,334 

 

$

44,720 



Schedule of Amounts Expected to be Amortized from Accumulated Other Comprehensive Income (Loss) and Reported as a Component of Net Periodic Benefit Cost During the Next Fiscal Year



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

United States

 

Other Countries

 

Total

Prior service cost

 

$

383 

 

$

 -

 

$

383 

Net actuarial losses

 

 

1,854 

 

 

533 

 

 

2,387 



Schedule of Expected Benefit Payments



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

Year Ending September 30,

 

United States

 

Other Countries

 

Total

2017

 

$

6,344 

 

$

2,315 

 

$

8,659 

2018

 

 

6,319 

 

 

2,249 

 

 

8,568 

2019

 

 

6,980 

 

 

2,847 

 

 

9,827 

2020

 

 

7,589 

 

 

2,311 

 

 

9,900 

2021

 

 

8,127 

 

 

2,442 

 

 

10,569 

2022 – 2026

 

 

46,705 

 

 

12,791 

 

 

59,496 



Schedule of Allocation of Plan Assets, Actual and Target Allocations



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

At September 30,



 

2016

 

2015



 

Percentage of Plan Assets

 

Target Allocation Ranges

 

Percentage of Plan Assets

 

Target Allocation Ranges

United States:

 

 

 

 

 

 

 

 

 

 

 

 

Asset Class

 

 

 

 

 

 

 

 

 

 

 

 

Equity Securities

 

56.4% 

 

40.8%

-

80.8%

 

58.2% 

 

40.7%

-

80.7%

Debt Securities

 

39.0% 

 

29.2%

-

49.2%

 

41.5% 

 

29.3%

-

49.3%

Other

 

4.6% 

 

0.0%

 

0.3% 

 

0.0%



 

100.0% 

 

 

 

 

 

100.0% 

 

 

 

 

United Kingdom:

 

 

 

 

 

 

 

 

 

 

 

 

Asset Class

 

 

 

 

 

 

 

 

 

 

 

 

Equity Securities

 

34.7% 

 

25.0%

-

45.0%

 

36.0% 

 

40.0%

-

70.0%

Debt Securities

 

65.2% 

 

40.0%

-

80.0%

 

63.8% 

 

35.0%

-

65.0%

Other

 

0.1% 

 

0.0%

 

0.2% 

 

0.0%



 

100.0% 

 

 

 

 

 

100.0% 

 

 

 

 

Japan:

 

 

 

 

 

 

 

 

 

 

 

 

Asset Class

 

 

 

 

 

 

 

 

 

 

 

 

Equity Securities

 

40.0% 

 

36.0%

-

44.0%

 

38.6% 

 

36.0%

-

44.0%

Debt Securities

 

59.1% 

 

55.0%

-

63.0%

 

60.4% 

 

55.0%

-

63.0%

Other

 

0.9% 

 

0.0%

-

2.0%

 

1.0% 

 

0.0%

-

2.0%



 

100.0% 

 

 

 

 

 

100.0% 

 

 

 

 



Schedule of Allocation of Plan Assets, Fair Value Hieracrchy



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

At September 30, 2016



 

Level 1

 

Level 2

 

Level 3

 

 

 



 

United States

 

Other Countries

 

United States

 

Other Countries

 

United States

 

Other Countries

 

Total

Asset Category:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

6,741 

 

$

163 

 

$

 -

 

$

 -

 

$

 -

 

$

 -

 

$

6,904 

Mutual funds:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. corporate bond fund

 

 

56,813 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

56,813 

U.S. equity large cap fund

 

 

48,506 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

48,506 

International equity large cap growth fund

 

 

33,834 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

33,834 

Pooled funds:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Japanese equity securities

 

 

 -

 

 

 -

 

 

 -

 

 

2,536 

 

 

 -

 

 

 -

 

 

2,536 

International equity securities

 

 

 -

 

 

 -

 

 

 -

 

 

2,258 

 

 

 -

 

 

 -

 

 

2,258 

Japanese fixed income securities

 

 

 -

 

 

 -

 

 

 -

 

 

5,321 

 

 

 -

 

 

 -

 

 

5,321 

International fixed income securities

 

 

 -

 

 

 -

 

 

 -

 

 

1,777 

 

 

 -

 

 

 -

 

 

1,777 

Index linked U.K. equity fund

 

 

 -

 

 

 -

 

 

 -

 

 

7,982 

 

 

 -

 

 

 -

 

 

7,982 

Index linked international equity fund

 

 

 -

 

 

 -

 

 

 -

 

 

9,694 

 

 

 -

 

 

 -

 

 

9,694 

Index linked U.K. corporate bonds fund

 

 

 -

 

 

 -

 

 

 -

 

 

16,180 

 

 

 -

 

 

 -

 

 

16,180 

Index linked U.K.  government securities fund

 

 

 -

 

 

 -

 

 

 -

 

 

5,009 

 

 

 -

 

 

 -

 

 

5,009 

Index linked U.K. long-term government securities fund

 

 

 -

 

 

 -

 

 

 -

 

 

11,998 

 

 

 -

 

 

 -

 

 

11,998 

Total assets

 

$

145,894 

 

$

163 

 

$

 -

 

$

62,755 

 

$

 -

 

$

 -

 

$

208,812 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

At September 30, 2015



 

Level 1

 

Level 2

 

Level 3

 

 

 



 

United States

 

Other Countries

 

United States

 

Other Countries

 

United States

 

Other Countries

 

Total

Asset Category:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

467 

 

$

201 

 

$

 -

 

$

 -

 

$

 -

 

$

 -

 

$

668 

Mutual funds:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. corporate bond fund

 

 

56,210 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

56,210 

U.S. equity large cap fund

 

 

47,517 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

47,517 

International equity large cap growth fund

 

 

31,396 

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

31,396 

Pooled funds:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Japanese equity securities

 

 

 -

 

 

 -

 

 

 -

 

 

2,116 

 

 

 -

 

 

 -

 

 

2,116 

International equity securities

 

 

 -

 

 

 -

 

 

 -

 

 

1,982 

 

 

 -

 

 

 -

 

 

1,982 

Japanese fixed income securities

 

 

 -

 

 

 -

 

 

 -

 

 

4,805 

 

 

 -

 

 

 -

 

 

4,805 

International fixed income securities

 

 

 -

 

 

 -

 

 

 -

 

 

1,624 

 

 

 -

 

 

 -

 

 

1,624 

Index linked U.K. equity fund

 

 

 -

 

 

 -

 

 

 -

 

 

8,687 

 

 

 -

 

 

 -

 

 

8,687 

Index linked international equity fund

 

 

 -

 

 

 -

 

 

 -

 

 

9,336 

 

 

 -

 

 

 -

 

 

9,336 

Index linked U.K. corporate bonds fund

 

 

 -

 

 

 -

 

 

 -

 

 

16,613 

 

 

 -

 

 

 -

 

 

16,613 

Index linked U.K.  government securities fund

 

 

 -

 

 

 -

 

 

 -

 

 

4,716 

 

 

 -

 

 

 -

 

 

4,716 

Index linked U.K. long-term government securities fund

 

 

 -

 

 

 -

 

 

 -

 

 

10,583 

 

 

 -

 

 

 -

 

 

10,583 

Total assets

 

$

135,590 

 

$

201 

 

$

 -

 

$

60,462 

 

$

 -

 

$

 -

 

$

196,253 



United States Pension Plans of US Entity, Defined Benefit [Member]  
Schedule of Actuarial Assumptions Used



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



2016

 

2015

 

2014

United States:

 

 

 

 

 

 

 

 

Weighted-average assumptions to determine benefit obligation at September 30:

 

 

 

 

 

 

 

 

Discount rate

3.65 

%

 

4.39 

%

 

4.40 

%

Rate of compensation increase

n/a

 

 

n/a

 

 

3.50 

 

Weighted-average assumptions to determine periodic benefit costs for years ended September 30:

 

 

 

 

 

 

 

 

Discount rate

4.39 

 

 

4.40 

 

 

5.15 

 

Rate of compensation increase

n/a

 

 

n/a

 

 

3.50 

 

Long-term rate of return on plan assets

7.62 

 

 

7.62 

 

 

7.62 

 



United Kingdom Plan, Defined Benefit [Member]  
Schedule of Actuarial Assumptions Used



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



2016

 

2015

 

2014

United Kingdom:

 

 

 

 

 

 

 

 

Weighted-average assumptions to determine benefit obligation at September 30:

 

 

 

 

 

 

 

 

Discount rate

2.28 

%

 

3.75 

%

 

4.10 

%

Rate of compensation increase

3.40 

 

 

3.40 

 

 

3.50 

 

Weighted-average assumptions to determine periodic benefit costs for years ended September 30:

 

 

 

 

 

 

 

 

Discount rate - service cost

3.86 

 

 

4.10 

 

 

4.50 

 

Discount rate - interest cost

3.63 

 

 

4.10 

 

 

4.50 

 

Rate of compensation increase

3.40 

 

 

3.50 

 

 

3.50 

 

Long-term rate of return on plan assets

5.00 

 

 

5.50 

 

 

5.50 

 



Japan Plan, Defined Benefit [Member]  
Schedule of Actuarial Assumptions Used



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



2016

 

2015

 

2014

Japan:

 

 

 

 

 

 

 

 

Weighted-average assumptions to determine benefit obligation at September 30:

 

 

 

 

 

 

 

 

Discount rate

0.46 

%

 

0.97 

%

 

1.10 

%

Rate of compensation increase

2.02 

 

 

2.00 

 

 

2.00 

 

Weighted-average assumptions to determine periodic benefit costs for years ended September 30:

 

 

 

 

 

 

 

 

Discount rate - service cost

1.27 

 

 

1.10 

 

 

1.25 

 

Discount rate - interest cost

0.59 

 

 

1.10 

 

 

1.25 

 

Rate of compensation increase

2.00 

 

 

2.00 

 

 

2.00 

 

Long-term rate of return on plan assets

3.00 

 

 

3.00 

 

 

3.00 

 



Switzerland Plan, Defined Benefit [Member]  
Schedule of Actuarial Assumptions Used



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



2016

 

2015

 

2014

Switzerland:

 

 

 

 

 

 

 

 

Weighted-average assumptions to determine benefit obligation at September 30:

 

 

 

 

 

 

 

 

Discount rate

n/a

 

 

n/a

 

 

n/a

 

Rate of compensation increase

n/a

 

 

n/a

 

 

n/a

 

Weighted-average assumptions to determine periodic benefit costs for years ended September 30:

 

 

 

 

 

 

 

 

Discount rate

n/a

 

 

n/a

 

 

2.25 

%

Rate of compensation increase

n/a

 

 

n/a

 

 

2.00 

 

Long-term rate of return on plan assets

n/a

 

 

n/a

 

 

2.25 

 



Multiemployer Plan [Member]  
Schedule of Costs of Retirement Plans



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

 

Year Ended September 30,



 

2016

 

2015

 

2014

Company contributions

 

$

475 

 

$

600 

 

$

728 



Defined Contribution Plan [Member]  
Schedule of Costs of Retirement Plans



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

 

Year Ended September 30,



 

2016

 

2015

 

2014

Company costs

 

$

31,893 

 

$

30,933 

 

$

24,921 



Other Postretirement Benefit Plans, Defined Benefit [Member]  
Schedule of Actuarial Assumptions Used



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



2016

 

2015

 

2014

Weighted-average discount rate used to determine benefit obligation at September 30

3.63 

%

 

4.01 

%

 

4.40 

%

Weighted-average discount rate used to determine net periodic benefit cost for years ended September 30

4.01 

 

 

4.40 

 

 

5.14 

 



Schedule of Net Periodic Benefit Costs



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

Year Ended September 30,



 

2016

 

2015

 

2014

Service cost

 

$

22 

 

$

30 

 

$

47 

Interest cost

 

 

1,048 

 

 

1,233 

 

 

1,432 

Amortization of:

 

 

 

 

 

 

 

 

 

Net (gains) losses

 

 

156 

 

 

(73)

 

 

(200)

Net prior service benefit

 

 

(158)

 

 

(158)

 

 

(158)

Net periodic cost

 

$

1,068 

 

$

1,032 

 

$

1,121 



Schedule of Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan



 

 

 

 

 

 



 

 

 

 

 

 



 

Year Ended September 30,



 

2016

 

2015

Changes in accumulated postretirement benefit obligation:

 

 

 

 

 

 

Accumulated postretirement benefit obligation at beginning of year

 

$

34,927 

 

$

29,225 

Service cost

 

 

22 

 

 

30 

Interest cost

 

 

1,048 

 

 

1,233 

Premiums paid by plan participants

 

 

1,299 

 

 

1,613 

Net actuarial losses

 

 

1,912 

 

 

6,705 

Benefits paid

 

 

(3,503)

 

 

(3,848)

Foreign currency exchange rate changes

 

 

(75)

 

 

(31)

Accumulated postretirement benefit obligation at end of year

 

$

35,630 

 

$

34,927 

Changes in fair value of plan assets:

 

 

 

 

 

 

Fair value of plan assets at beginning of year

 

$

 -

 

$

 -

Contributions by the Company

 

 

2,204 

 

 

2,235 

Premiums paid by plan participants

 

 

1,299 

 

 

1,613 

Benefits paid

 

 

(3,503)

 

 

(3,848)

  Fair value of plan assets at end of year

 

$

 -

 

$

 -

Net underfunded status at end of year

 

$

(35,630)

 

$

(34,927)



Schedule of Amounts Recognized in Balance Sheet and Other Comprehensive Income (Loss)



 

 

 

 

 

 



 

 

 

 

 

 



 

Year Ended September 30,



 

2016

 

2015

Amounts recognized in statement of financial position consist of:

 

 

 

 

 

 

Accrued liabilities

 

$

(2,505)

 

$

(2,481)

Other non-current liabilities

 

 

(33,125)

 

 

(32,446)

Funded status at end of year

 

$

(35,630)

 

$

(34,927)



 

 

 

 

 

 

Amounts recognized in accumulated other comprehensive losses consist of:

 

 

 

 

 

 

Unrecognized net prior service benefit

 

$

(318)

 

$

(477)

Unrecognized net losses

 

 

5,484 

 

 

3,745 

Total amounts recognized

 

 

5,166 

 

 

3,268 

Deferred taxes

 

 

(1,979)

 

 

(1,267)

Amounts recognized in accumulated other comprehensive losses

 

$

3,187 

 

$

2,001 



Schedule of Changes in Plan Assets and Benefit Obligations Recorded in Other Comprehensive Income (Loss)



 

 

 

 

 

 



 

 

 

 

 

 



 

Year Ended September 30,



 

2016

 

2015

Accumulated other comprehensive losses (earnings) at beginning of year

 

$

3,268 

 

$

(3,666)

Net (gain) loss

 

 

1,912 

 

 

6,705 

Amortization of:

 

 

 

 

 

 

Net gains (losses)

 

 

(156)

 

 

73 

Prior service benefit (cost)

 

 

158 

 

 

158 

Foreign currency exchange rate changes

 

 

(16)

 

 

(2)

Accumulated other comprehensive losses at end of year

 

$

5,166 

 

$

3,268 



Schedule of Health Care Cost Trend Rates



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



 

 

 

2016

 

2015

Health care cost trend rate assumed for next year

 

 

 

7.00 

%

 

7.00 

%

Rate to which the cost trend rate is assumed to decline

 

 

 

 

 

 

 

 

(the ultimate trend rate)

 

 

 

5.00 

%

 

5.00 

%

Year that the rate reaches the ultimate trend rate

 

 

 

2025 

 

 

2024 

 



Schedule of Health Care Costs Sensitivity



 

 

 

 

 

 

 



 

 

 

 

 

 

 



 

 

Change In Health Care Cost Trend Rate



 

 

1% increase

 

1% decrease

Effect on projected fiscal year 2017 service and interest cost

 

 

$

126 

 

$

(110)

Effect on accumulated postretirement benefit obligation at September 30, 2016

 

 

 

3,415 

 

 

(2,993)



Schedule of Future Postretirement Company Contributions



 

 

 



 

 

 

Year Ending September 30,

 

 

 

2017

 

$

4,039 

2018

 

 

4,066 

2019

 

 

4,096 

2020

 

 

4,080 

2021

 

 

4,060 

2022 – 2026

 

 

19,306