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Pension and Other Postretirement Benefit Plans | 9 Months Ended
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Jun. 30, 2017
Retirement Benefits [Abstract] |
Pension and Other Postretirement Benefit Plans | Pension and Other Postretirement Benefit Plans The Company provides defined benefit pension and other postretirement plans to certain employees. Net periodic pension and other postretirement benefit cost for the plans included the following:
| Three months ended June 30,
| Pension |  | Other Postretirement
| 2017 |  | 2016 |  | 2017 |  | 2016
Service cost | $ | 2,138 |  |  | $ | 1,813 |  |  | $ | 98 |  |  | $ | 101 |
Interest cost | 1,841 |  |  | 2,406 |  |  | 157 |  |  | 211 |
Expected return on plan assets | (2,312 | ) |  | (2,407 | ) |  | — |  |  | — |
Amortization: |  |  |  |  |  |  |  |  |  |  |
Prior service cost | (45 | ) |  | (46 | ) |  | (49 | ) |  | (49 | )
Net actuarial loss | 2,509 |  |  | 1,866 |  |  | — |  |  | — |
Net benefit cost | $ | 4,131 |  |  | $ | 3,632 |  |  | $ | 206 |  |  | $ | 263 |
| Nine months ended June 30,
| Pension |  | Other Postretirement
| 2017 |  | 2016 |  | 2017 |  | 2016
Service cost | $ | 6,414 |  |  | $ | 5,439 |  |  | $ | 294 |  |  | $ | 303 |
Interest cost | 5,523 |  |  | 7,218 |  |  | 471 |  |  | 633 |
Expected return on plan assets | (6,936 | ) |  | (7,221 | ) |  | — |  |  | — |
Amortization: |  |  |  |  |  |  |  |  |  |  |
Prior service cost | (135 | ) |  | (138 | ) |  | (147 | ) |  | (147 | )
Net actuarial loss | 7,527 |  |  | 5,598 |  |  | — |  |  | — |
Net benefit cost | $ | 12,393 |  |  | $ | 10,896 |  |  | $ | 618 |  |  | $ | 789 |
On September 30, 2016, the Company changed the method used to estimate the service and interest components of net periodic benefit cost for its pensions. Historically, the Company estimated these service and interest cost components utilizing a single weighted-average discount rate derived from the yield curve used to measure the benefit obligation at the beginning of the period. Matthews has elected to utilize a full yield curve approach in the estimation of these components by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows. This change is being made to provide a more precise measurement of service and interest costs by improving the correlation between projected benefit cash flows to the corresponding spot yield curve rates. This change does not affect the measurement of the total benefit obligations. The Company has accounted for this change as a change in accounting estimate that is inseparable from a change in accounting principle and accordingly, is recognizing its effects prospectively beginning in fiscal 2017. The impact of this change was not material for the three and nine months ended June 30, 2017. Note 8. Pension and Other Postretirement Benefit Plans (continued) Benefit payments under the Company's principal retirement plan are made from plan assets, while benefit payments under the postretirement benefit plan are made from the Company's operating funds. Under IRS regulations, the Company was required to make contributions of $5,110 to its principal retirement plan in fiscal year 2017, which the Company has fully contributed in the third quarter. The Company is not required to make any additional significant contributions to its principal retirement plan for the remainder of fiscal 2017. Contributions made and anticipated for fiscal year 2017 are as follows:
Contributions |  | Pension |  | Other Postretirement
Contributions during the nine months ended June 30, 2017: |  |  |  |
Principal retirement plan |  | $ | 5,110 |  |  | $ | — |
Supplemental retirement plan |  | 543 |  |  | — |
Other postretirement plan |  | — |  |  | 552 |
Additional contributions expected in fiscal 2017: |  |  |  |  |  |
Principal retirement plan |  | $ | — |  |  | $ | — |
Supplemental retirement plan |  | 217 |  |  | — |
Other postretirement plan |  | — |  |  | 596 |

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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