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Defined Benefit Pension Plan

6 Months Ended

Mar. 31, 2020

Retirement Benefits [Abstract]

Defined Benefit Pension Plan

Defined Benefit Pension Plan Certain employees of Liquidity Services UK Limited (GoIndustry), which the Company acquired in July 2012, are covered by the Henry Butcher Pension Fund and Life Assurance Scheme (the Scheme), a qualified defined benefit pension plan. The Company guarantees GoIndustry's performance on all present and future obligations to make payments to the Scheme for up to a maximum of £10 million British pounds. The Scheme was closed to new members on January 1, 2002.

The net periodic benefit, other than service costs, is recognized within Interest other income, net in the Consolidated Statements of Operations, and for the three and six months ended March 31, 2020 and 2019 included the following components:

			Three Months Ended March 31,																					Six Months Ended March 31,
(in thousands)			2020						2019									2020						2019
Service cost			$	—					$	—								$	—					$	—
Interest cost			109						154									217						$	311
Expected return on plan assets			(204)						(229)									(404)						(473)
Amortization of prior service cost			5						—									10						—
Total net periodic (benefit)			$	(90)					$	(75)								$	(177)					$	(162)

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- References

No definition available.

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- Definition

The entire disclosure for pension and other postretirement benefits.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

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