XML 41 R28.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Retirement Benefit Plans (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2012
Retirement Benefit Plans [Abstract] |
Net pension expense, benefit obligations and plan assets |
|  | Years Ended September 30, |
|  | 2012 |  |  | 2011 |
Service cost |  | $ | 266 |  |  | $ | 273 |
Interest cost |  |  | 988 |  |  |  | 1,059 |
Expected return on plan assets |  |  | (1,413 | ) |  |  | (1,454 | )
Amortization of prior service cost |  |  | 47 |  |  |  | 117 |
Amortization of net loss |  |  | 861 |  |  |  | 682 |
Early retirement expense |  |  | 0 |  |  |  | 61 |
Settlement cost |  |  | 513 |  |  |  | 0 |
Net pension expense for defined benefit plan |  | $ | 1,262 |  |  | $ | 738 |
Defined Benefit pension plans | The status of all defined benefit pension plans at September 30 is as follows:
|  | 2012 |  |  | 2011 |
Benefit obligations: |  |  |  |  |  |  |  |
Benefit obligations at beginning of year |  | $ | 24,030 |  |  | $ | 21,889 |
Service cost |  |  | 266 |  |  |  | 273 |
Interest cost |  |  | 988 |  |  |  | 1,059 |
Amendments |  |  | 0 |  |  |  | 0 |
Actuarial loss |  |  | 2,659 |  |  |  | 1,821 |
Benefits paid |  |  | (1,637 | ) |  |  | (1,073 | )
Early retirement expense |  |  | 0 |  |  |  | 61 |
Benefit obligations at end of year |  | $ | 26,306 |  |  | $ | 24,030 |
Defined benefit plan, fair value of plan assets |
Plan assets: |  |  |  |  |  |  |  |
Plan assets at beginning of year |  | $ | 16,642 |  |  | $ | 16,653 |
Actual return on plan assets |  |  | 2,929 |  |  |  | 364 |
Employer contributions |  |  | 1,015 |  |  |  | 698 |
Benefits paid |  |  | (1,637 | ) |  |  | (1,073 | )
Plan assets at end of year |  | $ | 18,949 |  |  | $ | 16,642 |
Amount recognized in the consolidated balance sheets |
|  | Plans in which Assets Exceed Benefit Obligations at September 30, |  |  | Plans in which Benefit Obligations Exceed Assets at September 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Reconciliation of funded status: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Plan assets in excess of (less than) projected benefit obligations |  | $ | 520 |  |  | $ | 772 |  |  | $ | (7,877 | ) |  | $ | (8,160 | )
Amounts recognized in accumulated other comprehensive loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  |  | 872 |  |  |  | 562 |  |  |  | 9,907 |  |  |  | 10,449 |
Prior service cost |  |  | 0 |  |  |  | 39 |  |  |  | 31 |  |  |  | 39 |
Net amount recognized in the consolidated balance sheets |  | $ | 1,392 |  |  | $ | 1,373 |  |  | $ | 2,061 |  |  | $ | 2,328 |
Amounts recognized in the consolidated balance sheets are: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  | $ | 520 |  |  | $ | 772 |  |  | $ | 0 |  |  | $ | 0 |
Other long-term liabilities |  |  | 0 |  |  |  | 0 |  |  |  | (7,877 | ) |  |  | (8,160 | )
Accumulated other comprehensive loss – pretax |  |  | 872 |  |  |  | 601 |  |  |  | 9,938 |  |  |  | 10,488 |
Net amount recognized in the consolidated balance sheets |  | $ | 1,392 |  |  | $ | 1,373 |  |  | $ | 2,061 |  |  | $ | 2,328 |
Components of net periodic benefit cost | The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit costs during fiscal 2013 are as follows:
|  | Plans in which Assets Exceed Benefit Obligations |  |  | Plans in which Benefit Obligations Exceed Assets |
Net loss |  | $ | 44 |  |  | $ | 862 |
Prior service cost |  |  | 0 |  |  |  | 8 |
Total |  | $ | 44 |  |  | $ | 870 |
Developing the benefit obligation and the net pension expense for defined benefit pension plans | Where applicable, the following weighted-average assumptions were used in developing the benefit obligation and the net pension expense for defined benefit pension plans:
|  | Years Ended September 30, |
|  | 2012 |  |  | 2011 |
Discount rate for liabilities |  |  | 3.6 | % |  |  | 4.2 | %
Discount rate for expenses |  |  | 4.2 | % |  |  | 5.0 | %
Expected return on assets |  |  | 8.1 | % |  |  | 8.3 | %
Fair values and levels within the fair value hierarchy |
September 30, 2012 |  | Asset Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
U.S. equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Large value |  | $ | 288 |  |  | $ | 0 |  |  | $ | 288 |  |  | $ | 0 |
Large blend |  |  | 8,592 |  |  |  | 0 |  |  |  | 8,592 |  |  |  | 0 |
Large growth |  |  | 640 |  |  |  | 0 |  |  |  | 640 |  |  |  | 0 |
Mid blend |  |  | 19 |  |  |  | 0 |  |  |  | 19 |  |  |  | 0 |
Small blend |  |  | 4 |  |  |  | 0 |  |  |  | 4 |  |  |  | 0 |
Non-U.S equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign large blend |  |  | 1,295 |  |  |  | 0 |  |  |  | 1,295 |  |  |  | 0 |
Diversified emerging markets |  |  | 70 |  |  |  | 0 |  |  |  | 70 |  |  |  | 0 |
U.S. debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Inflation protected bond |  |  | 952 |  |  |  | 0 |  |  |  | 952 |  |  |  | 0 |
Intermediate term bond |  |  | 6,412 |  |  |  | 0 |  |  |  | 4,319 |  |  |  | 2,093 |
High inflation bond |  |  | 299 |  |  |  | 0 |  |  |  | 299 |  |  |  | 0 |
Non-U.S. debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Emerging markets bonds |  |  | 239 |  |  |  | 0 |  |  |  | 239 |  |  |  | 0 |
Stable value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term bonds |  |  | 139 |  |  |  | 139 |  |  |  | 0 |  |  |  | 0 |
Total plan assets at fair value |  | $ | 18,949 |  |  | $ | 139 |  |  | $ | 16,717 |  |  | $ | 2,093 |
September 30, 2011 |  | Asset Amount |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
U.S. equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Large value |  | $ | 204 |  |  | $ | 0 |  |  | $ | 204 |  |  | $ | 0 |
Large blend |  |  | 6,945 |  |  |  | 0 |  |  |  | 6,945 |  |  |  | 0 |
Large growth |  |  | 832 |  |  |  | 0 |  |  |  | 832 |  |  |  | 0 |
Mid blend |  |  | 43 |  |  |  | 0 |  |  |  | 43 |  |  |  | 0 |
Small blend |  |  | 34 |  |  |  | 0 |  |  |  | 34 |  |  |  | 0 |
Non-U.S. equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign large blend |  |  | 1,048 |  |  |  | 0 |  |  |  | 1,048 |  |  |  | 0 |
Diversified emerging markets |  |  | 109 |  |  |  | 0 |  |  |  | 109 |  |  |  | 0 |
U.S. debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Inflation protected bond |  |  | 489 |  |  |  | 0 |  |  |  | 489 |  |  |  | 0 |
Intermediate term bond |  |  | 6,176 |  |  |  | 0 |  |  |  | 4,083 |  |  |  | 2,093 |
High inflation bond |  |  | 328 |  |  |  | 0 |  |  |  | 328 |  |  |  | 0 |
Non-U.S. debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Emerging markets bonds |  |  | 257 |  |  |  | 0 |  |  |  | 257 |  |  |  | 0 |
Stable value: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term bonds |  |  | 177 |  |  |  | 177 |  |  |  | 0 |  |  |  | 0 |
Total plan assets at fair value |  | $ | 16,642 |  |  | $ | 177 |  |  | $ | 14,372 |  |  | $ | 2,093 |
Changes in the fair value of the Company's Level 3 investments | Changes in the fair value of the Company’s Level 3 investments during the years ending September 30, 2012 and 2011 were as follows:
|  | 2012 |  |  | 2011 |
Balance at beginning of year |  | $ | 2,093 |  |  | $ | 1,911 |
Actual return on plan assets |  |  | 118 |  |  |  | 144 |
Purchases and sales of plan assets, net |  |  | (118 | ) |  |  | 38 |
Balance at end of year |  | $ | 2,093 |  |  | $ | 2,093 |
Asset allocation range provides flexibility for the Plan's investments |
|  | Percent of Plan Assets at September 30, |  |  | Asset Allocation Range |
|  | 2012 |  |  | 2011 |  |
U.S. equities |  |  | 50 | % |  |  | 48 | % |  |  | 30% to 70% |
Non-U.S. equities |  |  | 7 | % |  |  | 7 | % |  |  | 0% to 20% |
U.S. debt securities |  |  | 41 | % |  |  | 42 | % |  |  | 20% to 70% |
Non-U.S. debt securities |  |  | 1 | % |  |  | 2 | % |  |  | 0% to 10% |
Other securities |  |  | 1 | % |  |  | 1 | % |  |  | 0% to 60% |
Total |  |  | 100 | % |  |  | 100 | % |  |  |  |
Expected benefit payment amount |
Years Ending September 30, |  | Projected Benefit Payments |
2013 |  | $ | 1,991 |
2014 |  |  | 1,370 |
2015 |  |  | 1,269 |
2016 |  |  | 1,288 |
2017 |  |  | 1,804 |
2018-2022 |  |  | 8,279 |
Company's contribution to U.S. multi-employer retirement plans for certain union employees | The Company contributes to two (2) U.S. multi-employer retirement plans for certain union employees, as follow:
Pension Fund |  | Pension Protection Act Zone Status |  |  | FIP/RP Status Pending/ Implemented |  |  | Contributions by the Company |  |  | Surcharge Imposed |  |  | Expiration of Collective Bargaining Agreement |
|  | 2012 |  |  | 2011 |  |  |  | 2012 |  |  | 2011 |  |  |
Fund 1 |  |  | Green |  |  |  | Green |  |  |  | No |  |  | $ | 52 |  |  | $ | 60 |  |  |  | No |  |  |  | 5/31/2015 |
Fund 2 |  |  | Yellow |  |  |  | Yellow |  |  |  | Implemented |  |  | $ | 205 |  |  | $ | 144 |  |  |  | Yes |  |  |  | 7/31/2013 |
1 | The fund is the IAM National Pension Fund – EIN 51-6031295 / Plan number 002. The IAM National Pension Fund utilized the special 30-year amortization provided by Public law 111-192, section 211 to amortize its losses from 2008.
2 | The fund is the Boilermaker-Blacksmith National Pension Trust – EIN 48-6168020 / Plan number 001.

X
- Definition Schedule of changes in projected benefit obligations and fair change in fair value assets. + References No definition available. + Details
Name: | sif_ScheduleOfChangesInProjectedBenefitObligationsAndFairChangeInFairValueAssetsTableTextBlock
Namespace Prefix: | sif_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of components net benefit costs. + References No definition available. + Details
Name: | sif_ScheduleOfComponentsNetBenefitCostsTableTextBlock
Namespace Prefix: | sif_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of effect of significant assumption inputs changes in plan assets. + References No definition available. + Details
Name: | sif_ScheduleOfEffectOfSignificantAssumptionInputsChangesInPlanAssetsTableTextBlock
Namespace Prefix: | sif_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of accumulated benefit obligations and fair values of plan assets of pension plans and/or other employee benefit plans where the accumulated benefit obligation exceeds the fair value of plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e2417-114920 + Details
Name: | us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in defined benefit plan assets within level 3 of the fair value hierarchy. + References No definition available. + Details
Name: | us-gaap_ScheduleofLevelThreeDefinedBenefitPlanAssetsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the quantitative and qualitative information related to multiemployer plans in which the employer participates. A multiemployer plan is a pension or postretirement benefit plan to which two or more unrelated employers contribute where assets contributed by one participating employer may be used to provide benefits to employees of other participating employers. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -URI http://asc.fasb.org/subtopic&trid=2235144 + Details
Name: | us-gaap_ScheduleOfMultiemployerPlansTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration