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Employee Benefits
 12 Months Ended
Sep. 30, 2011
Employee Benefits [Abstract]  
Employee Benefits
8     EMPLOYEE BENEFITS
 
The Company has non-contributory defined benefit pension plans covering certain U.S. employees. Retirement benefits are generally provided based on employees' years of service and average earnings. Normal retirement age is 65, with provisions for earlier retirement.  The Company elected to freeze its U.S. defined benefit pension plans as of September 30, 2009 and as a result, there are no benefit accruals related to service performed after that date.
 
The financial position of the Company's non-contributory defined benefit plans as of fiscal year end 2011 and 2010 is as follows:
 
   
2011
    
2010
  
Projected benefit obligation:
            
Projected benefit obligation, beginning of year
   $ 19,369     $ 18,393  
     Service cost
     -       -  
     Interest cost
     1,003       993  
     Actuarial loss
     1,446       767  
     Benefits paid
     (786 )     (784 )
Projected benefit obligation, end of year
   $ 21,032     $ 19,369  
Fair value of plan assets:
                
Fair value of plan assets, beginning of year
   $ 11,817     $ 10,346  
     Actual (loss) gain on plan assets
     (91 )     1,148  
     Company contributions
     364       1,107  
     Benefits paid
     (786 )     (784 )
Fair value of plan assets, end of year
   $ 11,304     $ 11,817  
Funded status of the plan
   $ (9,728 )   $ (7,552 )
Amounts recognized in the Consolidated Balance Sheets consist of:
                
     Current pension liabilities
   $ 197     $ 192  
     Noncurrent pension liabilities
     9,531       7,360  
     Accumulated other comprehensive loss
     (7,636 )     (5,315 )
Components of accumulated other comprehensive loss:
                
     Net actuarial loss
     (7,636 )     (5,315 )
Accumulated other comprehensive loss
   $ (7,636 )   $ (5,315 )

Net periodic benefit cost for the non-contributory defined benefit pension plans for the respective years includes the following components:
 
   
2011
    
2010
  
Service cost
   $ -     $ -  
Interest cost
     1,003       993  
Expected return on plan assets
     (962 )     (972 )
Amortization of unrecognized net loss
     177       94  
Net periodic pension cost
     218       115  
Other changes in benefit obligations recognized in other comprehensive income (loss), (OCI):
                
     Net loss
     2,321       497  
Total recognized in net periodic pension cost and OCI
   $ 2,539     $ 612  

 
The Company expects to recognize $315 of unrecognized loss amortization as a component of net periodic benefit cost in 2012.  This amount is included in accumulated other comprehensive income as of September 30, 2011.
 
The accumulated benefit obligation for all plans was $21,032 and $19,369 at September 30, 2011 and October 1, 2010, respectively.
 
At September 30, 2011, the aggregate accumulated benefit obligation and aggregate fair value of plan assets for plans with benefit obligations in excess of plan assets was $21,032 and $11,304, respectively, and there were no plans with plan assets in excess of benefit obligations. At October 1, 2010, the aggregate accumulated benefit obligation and aggregate fair value of plan assets for plans with benefit obligations in excess of plan assets was $19,369 and $11,817, respectively, and there were no plans with plan assets in excess of benefit obligations.
 
The Company anticipates making contributions to the defined benefit pension plans of $885 through September 28, 2012.
 
Estimated benefit payments from the defined benefit plans to participants for the five years ending September 2016 and five years thereafter are as follows:
 
Year
      
2012
   $ 837  
2013
     843  
2014
     854  
2015
     868  
2016
     876  
Five years thereafter
     4,886  

Actuarial assumptions used to determine the projected benefit obligation and net periodic pension cost as of the following fiscal years ended are as follows:
 
   
           Projected Benefit
    
           Net Periodic
  
   
           Obligation
    
           Pension Cost
  
   
2011
    
2010
    
2011
    
2010
  
Discount rate
     5.00 %     5.25 %     5.25 %     5.50 %
Long-term rate of return
     N/A       N/A       7.50 %     8.00 %
Average salary increase rate
     N/A       N/A       N/A       N/A  
 
The impact of the change in discount rates resulted in an actuarial loss of approximately $747 in 2011 and $705 in 2010. The remainder of the actuarial losses for each year results from adjustments to mortality tables, other modifications to actuarial assumptions and investment returns in excess of, or less than, estimates.
 
To determine the discount rate assumption used in the Company's pension valuation, the Company identified a benefit payout stream based on the demographics of the pension plans and constructed a hypothetical bond portfolio using high-quality corporate bonds with cash flows that matched that benefit payout stream.  A yield curve was calculated based on this hypothetical portfolio which was used for the discount rate determination.
 
The Company determines the long-term rate of return assumption for plan assets by using the historical asset returns for various investment asset classes and adjusting them to reflect future expectations.  The expected asset class returns are weighted by the targeted asset allocations, resulting in a weighted average return which is rounded to the nearest quarter percent.
 
The Company uses measurement dates of October 1 to determine pension expenses for each year and the last day of the fiscal year to determine the fair value of the pension assets.
 
The Company's pension plans' weighted average asset allocations at September 30, 2011 and October 1, 2010, by asset category were as follows:
 
   
2011
    
2010
  
Equity securities
     75 %     71 %
Fixed income securities     24       27  
Other securities     1       2  
Total      100 %      100 % 

The Company's primary investment objective for the plans' assets is to maximize the probability of meeting the plans' actuarial target rate of return of 7.5%, with a secondary goal of returning 4% above the rate of inflation. These return objectives are targeted while simultaneously striving to minimize risk of loss to the plans' assets. The investment horizon over which the investment objectives are expected to be met is a full market cycle or five years, whichever is greater.
 
The Company's investment strategy for the plans is to invest in a diversified portfolio that will generate average long-term returns commensurate with the aforementioned objectives while minimizing risk.
 
The following table summarizes the Company's pension plan assets as of September 30, 2011:

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Description:
                        
     Mutual fund
   $ 10,854     $ -     $ -     $ 10,854  
     Money market funds
     3       -       -       3  
     Group annuity contract
     -       -       411       411  
          Total
   $ 10,857     $ -     $ 411     $ 11,268  

The following table summarizes the Company's pension plan assets as of October 1, 2010:

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Description:
                        
     Mutual fund
   $ 11,303     $ -     $ -     $ 11,303  
     Money market funds
     43       -       -       43  
     Group annuity contract
     -       -       471       471  
          Total
   $ 11,346     $ -     $ 471     $ 11,817  
 
The tables below set forth a summary of changes in fair value of the Company's Level 3 pension plan assets for the years ended September 30, 2011 and October 1, 2010:
 
   
2011
    
2010
  
Level 3 assets, beginning of year
   $ 471     $ 533  
Unrealized gain (loss)
     16       14  
Purchases, sales, issuances and settlements, net
     (76 )     (76 )
Level 3 assets, end of year
   $ 411     $ 471  

The fair values of the money market fund and mutual fund were derived from quoted market prices as substantially all of these instruments have active markets.  The fair value of the group annuity contract was derived using a discounted cash flow model with inputs based on current yields of similar instruments with comparable durations.  The asset allocation of the mutual fund is a U.S. large-cap blend based on a moderate allocation style, generally investing approximately 70% to 75% in equity securities and the remainder in fixed income securities.  The annuity contract consists of high quality bonds.
 
The Company also has a non-qualified deferred compensation plan that provides certain officers and employees the ability to defer a portion of their compensation until a later date.  The deferred amounts and earnings thereon are payable to participants, or designated beneficiaries, at specified future dates upon retirement, death or termination from the Company.  The deferred compensation liability, which is classified as other liabilities, was approximately $5,405 and $5,514 as of September 30, 2011 and October 1, 2010, respectively.
 
A majority of the Company's full-time employees are covered by defined contribution programs. Expense attributable to the defined contribution programs was approximately $853 and $826 for 2011 and 2010, respectively.