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PENSION AND OTHER POSTRETIREMENT PLANS (Tables) | 12 Months Ended
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Sep. 30, 2014
PENSION AND OTHER POSTRETIREMENT PLANS [Abstract] |
Reconciliation of Benefit Obligations, Plan Assets and Funded Status of Pension Plans | The Company provides defined benefit pension and other postretirement plans to certain employees. Effective January 1, 2014, the Company's principal retirement plan was closed to new participants. The following provides a reconciliation of benefit obligations, plan assets and funded status of the plans as of the Company's actuarial valuation as of September 30, 2014 and 2013:
|  | Pension |  |  | Other Postretirement |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Change in benefit obligation: |  |  |  |  |  |  |  |  |  |  |  |
Benefit obligation, beginning of year |  | $ | 186,077 |  |  | $ | 195,860 |  |  | $ | 18,881 |  |  | $ | 28,831 |
Acquisitions |  |  | - |  |  |  | 9,437 |  |  |  | - |  |  |  | - |
Service cost |  |  | 6,150 |  |  |  | 7,160 |  |  |  | 436 |  |  |  | 796 |
Interest cost |  |  | 8,927 |  |  |  | 8,024 |  |  |  | 919 |  |  |  | 1,129 |
Actuarial (gain) loss |  |  | 18,412 |  |  |  | (27,179 | ) |  |  | 1,929 |  |  |  | (11,124 | )
Exchange (gain) loss |  |  | (703 | ) |  |  | - |  |  |  | - |  |  |  | - |
Benefit payments |  |  | (7,827 | ) |  |  | (7,225 | ) |  |  | (807 | ) |  |  | (751 | )
Benefit obligation, end of year |  |  | 211,036 |  |  |  | 186,077 |  |  |  | 21,358 |  |  |  | 18,881 |
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value, beginning of year |  |  | 123,713 |  |  |  | 116,577 |  |  |  | - |  |  |  | - |
Actual return |  |  | 10,792 |  |  |  | 10,838 |  |  |  | - |  |  |  | - |
Benefit payments |  |  | (7,827 | ) |  |  | (7,225 | ) |  |  | (807 | ) |  |  | (751 | )
Employer contributions |  |  | 5,075 |  |  |  | 3,523 |  |  |  | 807 |  |  |  | 751 |
Fair value, end of year |  |  | 131,753 |  |  |  | 123,713 |  |  |  | - |  |  |  | - |
Funded status |  |  | (79,283 | ) |  |  | (62,363 | ) |  |  | (21,358 | ) |  |  | (18,881 | )
Unrecognized actuarial loss (gain) |  |  | 69,153 |  |  |  | 56,148 |  |  |  | (987 | ) |  |  | (3,001 | )
Unrecognized prior service cost |  |  | (1,411 | ) |  |  | (1,935 | ) |  |  | (1,306 | ) |  |  | (1,502 | )
Net amount recognized |  | $ | (11,541 | ) |  | $ | (8,150 | ) |  | $ | (23,651 | ) |  | $ | (23,384 | )
Amounts recognized in the consolidated balance sheet: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liability |  | $ | (733 | ) |  | $ | (721 | ) |  | $ | (1,007 | ) |  | $ | (925 | )
Noncurrent benefit liability |  |  | (78,550 | ) |  |  | (61,642 | ) |  |  | (20,351 | ) |  |  | (17,956 | )
Accumulated other comprehensive loss |  |  | 67,742 |  |  |  | 54,213 |  |  |  | (2,293 | ) |  |  | (4,503 | )
Net amount recognized |  | $ | (11,541 | ) |  | $ | (8,150 | ) |  | $ | (23,651 | ) |  | $ | (23,384 | )
Amounts recognized in accumulated |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
other comprehensive loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net actuarial loss (income) |  | $ | 69,153 |  |  | $ | 56,148 |  |  | $ | (987 | ) |  | $ | (3,001 | )
Prior service cost |  |  | (1,411 | ) |  |  | (1,935 | ) |  |  | (1,306 | ) |  |  | (1,502 | )
Net amount recognized |  | $ | 67,742 |  |  | $ | 54,213 |  |  | $ | (2,293 | ) |  | $ | (4,503 | )
Net Periodic Pension and Other Postretirement Benefit Costs | Net periodic pension and other postretirement benefit cost for the plans included the following:
|  | Pension |  |  | Other Postretirement |
|  | 2014 |  |  | 2013 |  |  | 2012 |  |  | 2014 |  |  | 2013 |  |  | 2012 |
Service cost |  | $ | 6,150 |  |  | $ | 7,160 |  |  | $ | 5,852 |  |  | $ | 436 |  |  | $ | 796 |  |  | $ | 730 |
Interest cost |  |  | 8,927 |  |  |  | 8,024 |  |  |  | 7,842 |  |  |  | 919 |  |  |  | 1,129 |  |  |  | 1,283 |
Expected return on plan assets |  |  | (9,666 | ) |  |  | (9,071 | ) |  |  | (7,836 | ) |  |  | - |  |  |  | - |  |  |  | - |
Amortization: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost |  |  | (206 | ) |  |  | (206 | ) |  |  | (45 | ) |  |  | (195 | ) |  |  | (272 | ) |  |  | (451 | )
Net actuarial loss |  |  | 3,927 |  |  |  | 7,903 |  |  |  | 6,814 |  |  |  | (87 | ) |  |  | 439 |  |  |  | 535 |
Net benefit cost |  | $ | 9,132 |  |  | $ | 13,810 |  |  | $ | 12,627 |  |  | $ | 1,073 |  |  | $ | 2,092 |  |  | $ | 2,097 |
Contributions During Fiscal Year | Contributions made in fiscal 2014 are as follows:
Contributions |  | Pension |  |  | Other Postretirement |
Principal retirement plan |  | $ | 3,000 |  |  | $ | - |
Supplemental retirement plan |  |  | 725 |  |  |  | - |
Other retirement plan |  |  | 1,350 |  |  |  | - |
Other postretirement plan |  |  | - |  |  |  | 807 |
Amounts of AOCI Expected to be Recognized in Net Periodic Benefit Costs | Amounts of AOCI expected to be recognized in net periodic benefit costs in fiscal 2015 include:
|  |  |  |  | Other |
|  | Pension |  |  | Postretirement |
|  | Benefits |  |  | Benefits |
Net actuarial loss |  | $ | 6,258 |  |  | $ | - |
Prior service cost |  |  | (180 | ) |  |  | (195 | )
Weighted-Average Assumptions for Principal Retirement and Other Postretirement Benefit Plans | The measurement date of annual actuarial valuations for the Company's principal retirement and other postretirement benefit plans was September 30 for fiscal 2014, 2013 and 2012. The weighted-average assumptions for those plans were:
|  | Pension |  |  | Other Postretirement |
|  | 2014 |  |  | 2013 |  |  | 2012 |  |  | 2014 |  |  | 2013 |  |  | 2012 |
Discount rate |  |  | 4.25 | % |  |  | 5.00 | % |  |  | 4.00 | % |  |  | 4.25 | % |  |  | 5.00 | % |  |  | 4.00 | %
Return on plan assets |  |  | 7.75 |  |  |  | 8.00 |  |  |  | 8.00 |  |  |  | - |  |  |  | - |  |  |  | - |
Compensation increase |  |  | 3.50 |  |  |  | 3.50 |  |  |  | 3.50 |  |  |  | - |  |  |  | - |  |  |  | - |
Weighted Average Asset Allocation and Target Allocation | The Company's primary defined benefit pension plan's weighted-average asset allocation at September 30, 2014 and 2013 and weighted-average target allocation were as follows:
|  | Plan Assets at |  |  | Target |
Asset Category |  | 2014 |  |  | 2013 |  |  | Allocation |
Equity securities |  | $ | 66,984 |  |  | $ | 67,954 |  |  |  | 55 | %
Fixed income, cash and cash equivalents |  |  | 44,341 |  |  |  | 36,817 |  |  |  | 30 | %
Other investments |  |  | 20,428 |  |  |  | 18,942 |  |  |  | 15 | %
|  | $ | 131,753 |  |  | $ | 123,713 |  |  |  | 100 | %
Fair Value Allocation of Plan Assets | The Company's defined benefit pension plans' asset categories at September 30, 2014 and 2013 were as follows:
|  | September 30, 2014 |
Asset Category |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Equity securities - stocks |  | $ | 35,310 |  |  | $ | - |  |  | $ | - |  |  | $ | 35,310 |
Equity securities - mutual funds |  |  | 30,694 |  |  |  | 980 |  |  |  | - |  |  |  | 31,674 |
Fixed income securities |  |  | 20,042 |  |  |  | 9,503 |  |  |  | - |  |  |  | 29,545 |
Cash and cash equivalents |  |  | 14,796 |  |  |  | - |  |  |  | - |  |  |  | 14,796 |
Other investments |  |  | 6,098 |  |  |  | - |  |  |  | 14,330 |  |  |  | 20,428 |
Total |  | $ | 106,940 |  |  | $ | 10,483 |  |  | $ | 14,330 |  |  | $ | 131,753 |
|  | September 30, 2013 |
Asset Category |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Equity securities - stocks |  | $ | 36,127 |  |  | $ | - |  |  | $ | - |  |  | $ | 36,127 |
Equity securities - mutual funds |  |  | 30,507 |  |  |  | 1,320 |  |  |  | - |  |  |  | 31,827 |
Fixed income securities |  |  | 17,912 |  |  |  | 9,487 |  |  |  | - |  |  |  | 27,399 |
Cash and cash equivalents |  |  | 9,418 |  |  |  | - |  |  |  | - |  |  |  | 9,418 |
Other investments |  |  | - |  |  |  | - |  |  |  | 18,942 |  |  |  | 18,942 |
Total |  | $ | 93,964 |  |  | $ | 10,807 |  |  | $ | 18,942 |  |  | $ | 123,713 |
Changes in Fair Value of Level 3 Plan Assets | Changes in the fair value of Level 3 assets at September 30, 2014 and 2013 are summarized as follows:
| Fair Value, |  |  |  |  |  |  |  |  |  | Fair Value, |
| Beginning of |  |  |  |  |  | Realized |  | Unrealized |  | End of |
Asset Category | Period |  | Acquisitions |  | Dispositions |  | Gains (Losses) |  | Gains |  | Period |
Other investments: |  |  |  |  |  |  |  |  |  |  |  |
Fiscal Year Ended: |  |  |  |  |  |  |  |  |  |  |  |
September 30, 2014 |  | $ | 18,942 |  |  | $ | - |  |  | $ | (5,439 | ) |  | $ | 1,118 |  |  | $ | (291 | ) |  | $ | 14,330 |
September 30, 2013 |  |  | 18,173 |  |  |  | - |  |  |  | - |  |  |  | 48 |  |  |  | 721 |  |  |  | 18,942 |
Benefit Payments Expected to be Paid | Benefit payments expected to be paid are as follows:
|  |  |  |  | Other |
|  | Pension |  |  | Postretirement |
Years ending September 30: |  | Benefits |  |  | Benefits |
2015 |  | $ | 7,747 |  |  | $ | 1,007 |
2016 |  |  | 8,116 |  |  |  | 1,098 |
2017 |  |  | 8,550 |  |  |  | 1,205 |
2018 |  |  | 9,039 |  |  |  | 1,282 |
2019 |  |  | 9,611 |  |  |  | 1,347 |
2020-2024 |  |  | 57,292 |  |  |  | 6,847 |
|  | $ | 100,355 |  |  | $ | 12,786 |

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- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e2439-114920 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e2417-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e2410-114920 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=58242635&loc=d3e4179-114921 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
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