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Retirement Plans (Tables)
12 Months Ended
Sep. 30, 2019
Defined Benefit Plan [Abstract]  
Schedule of Net Periodic Benefit Cost
The components of net periodic benefit cost for our Pension Plans are presented below.
 
2019
 
2018
 
2017
 
(in millions)
Service cost
$
1.6

 
$
1.8

 
$
2.0

Components of net periodic benefit cost excluded from operating income following adoption of ASU 2017-07:
 
 
 
 
 
Interest cost
13.9

 
14.3

 
14.3

Expected return on plan assets
(16.2
)
 
(16.5
)
 
(16.9
)
Amortization of actuarial net loss
1.9

 
3.2

 
4.0

Pension settlement
0.7

 

 

Other
0.1

 

 

Pension costs other than service
0.4

 
1.0

 
1.4

Net periodic benefit cost
$
2.0

 
$
2.8

 
$
3.4


Schedule of Accumulated and Projected Benefit Obligations
Balance sheet information for Pension Plans with a net liability funded status is presented below.
 
September 30,
 
2019
 
2018
 
(in millions)
Projected benefit obligations
$
356.6

 
$
6.3

Accumulated benefit obligations
356.6

 
6.3

Fair value of plan assets
351.6

 
5.0

Balance sheet information for Pension Plans with a net asset funded status is presented below.
 
September 30,
 
2019
 
2018
 
(in millions)
Projected benefit obligations
$

 
$
327.1

Accumulated benefit obligations

 
327.1

Fair value of plan assets

 
338.5


Schedule Of Defined Benefit Plans Disclosures
Amounts recognized for Pension Plans are presented below.
 
2019
 
2018
 
(in millions)
Projected benefit obligations:
 
 
 
Beginning of year
$
333.4

 
$
380.5

Service cost
1.6

 
1.8

Interest cost
13.9

 
14.3

Actuarial gain
38.2

 
(38.6
)
Benefits paid
(23.9
)
 
(24.3
)
Currency translation
(0.1
)
 
(0.3
)
Decrease in obligation due to curtailment / settlement
(6.5
)
 

End of year
$
356.6

 
$
333.4

Accumulated benefit obligations at end of year
$
356.6

 
$
333.4

Plan assets:
 
 
 
Beginning of year
$
343.5

 
$
366.3

Actual return on plan assets
38.6

 
2.0

Employer contributions
0.6

 

Currency translation
(0.5
)
 
(0.3
)
Benefits paid
(23.9
)
 
(24.3
)
Settlements
(6.5
)
 

Other
(0.2
)
 
(0.2
)
End of year
$
351.6

 
$
343.5

Accrued benefit cost at end of year:
 
 
 
Funded (unfunded) status
$
(5.0
)
 
$
10.1

Recognized on balance sheet:
 
 
 
Other noncurrent assets
$

 
$
11.2

Other current liabilities

 
(1.1
)
Other noncurrent liabilities
(5.0
)
 

 
$
(5.0
)
 
$
10.1

Recognized in accumulated other comprehensive loss, before tax:
 
 
 
Prior year service cost
$

 
$

Net actuarial loss
78.4

 
66.0

 
$
78.4

 
$
66.0


Schedule of Pension and Other Postretirement Benefits Activity in Accumulated Other Comprehensive Income (Loss) [Table Text Block]
Pension Plan activity in accumulated other comprehensive loss, before tax, in 2019 is presented below, in millions.
Balance at beginning of year
$
66.0

Actuarial gain
15.9

Prior year actuarial loss amortization to net periodic cost
(3.5
)
Balance at end of year
$
78.4


Schedule of Assumptions Used
A summary of key assumptions for our Pension Plans is below.
 
2019
 
2018
 
2017
Weighted average used to determine benefit obligations:
 
 
 
 
 
Discount rate
3.26
%
 
4.37
%
 
3.88
%
Weighted average used to determine net periodic cost:
 
 
 
 
 
Discount rate
4.37
%
 
3.88
%
 
3.68
%
Expected return on plan assets
4.93
%
 
4.68
%
 
5.16
%

Schedule of Strategic Allocation of Plan Assets [Table Text Block]
This trust’s strategic asset allocations, tactical range at September 30, 2019 and actual asset allocations are presented below.
 
Strategic asset allocation
 
 
 
 
 
 
Actual asset allocations at
 
 
 
 
 
 
 
September 30,
 
Tactical range
 
2019
 
2018
 
2017
Fixed income investments
80
%
 
75
 
80
%
 
 
79
%
 
77
%
 
78
%
Equity investments
20

 
15
-
20
%
 
 
19

 
21

 
21

Cash

 
0
-
5
%
 
 
2

 
2

 
1

 
100
%
 
 
 
 
 
 
100
%
 
100
%
 
100
%

Schedule of Allocation of Plan Assets
The assets of the Plan by level within the fair value hierarchy are presented below.
 
September 30, 2019
 
Level 1
 
Level 2
 
Total
 
(in millions)
Fixed income
$

 
$
277.8

 
$
277.8

Equity:
 
 
 
 
 
Large cap stocks:
 
 
 
 
 
Large cap index funds

 
29.8

 
29.8

Mid cap stocks:
 
 
 
 
 
   Mid cap index funds

 
9.8

 
9.8

Small cap stocks:
 
 
 
 
 
  Small cap growth funds

 
9.6

 
9.6

International stocks:
 
 
 
 
 
Mutual funds
6.9

 

 
6.9

International funds

 
10.3

 
10.3

      Total equity
6.9

 
59.5

 
66.4

Cash and cash equivalents
7.4

 

 
7.4

 
$
14.3


$
337.3

 
$
351.6

 
September 30, 2018
 
Level 1
 
Level 2
 
Total
 
(in millions)
Fixed income
$

 
$
264.1

 
$
264.1

Equity:
 
 
 
 
 
Large cap stocks:
 
 
 
 
 
Large cap index funds

 
30.6

 
30.6

Mid cap stocks:
 
 
 
 
 
  Mid cap index funds

 
10.1

 
10.1

Small cap stocks:
 
 
 
 
 
Small cap growth funds

 
10.0

 
10.0

International stocks:
 
 
 
 
 
Mutual funds
11.8

 

 
11.8

International funds

 
10.3

 
10.3

Total equity
11.8

 
61.0

 
72.8

Cash and cash equivalents
6.6

 

 
6.6

 
$
18.4

 
$
325.1

 
$
343.5


Schedule of Expected Benefit Payments
Our estimated future pension benefit payments are presented below in millions.
2020
$
24.8

2021
24.8

2022
24.5

2023
24.2

2024
23.7

2025-2029
111.1