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Retirement Benefit Plans (Tables)

12 Months Ended

Sep. 30, 2014

Compensation and Retirement Disclosure [Abstract]

Net pension expense, benefit obligations and plan assets

Net pension expense, benefit obligations and plan assets for the Company-sponsored defined benefit pension plans consists of the following:

	Years Ended September 30,
	2014				2013				2012
Service cost	$	126			$	288			$	266
Interest cost	987				851				988
Expected return on plan assets	(1,573		)		(1,485		)		(1,413		)
Amortization of prior service cost	—				8				47
Amortization of net loss	450				917				861
Settlement cost	—				299				513
Curtailment cost	—				252				—
Net pension (benefit) expense for defined benefit plan	$	(10	)		$	1,130			$	1,262

Defined Benefit pension plans

The status of all defined benefit pension plans at September 30 is as follows:

	2014				2013
Benefit obligations:
Benefit obligations at beginning of year	$	23,596			$	26,306
Service cost	126				288
Interest cost	987				851
Actuarial loss (gain)	2,737				(2,624		)
Benefits paid	(1,306		)		(1,454		)
Curtailment expense	—				$	229
Benefit obligations at end of year	$	26,140			$	23,596
Plan assets:
Plan assets at beginning of year	$	20,435			$	18,949
Actual return on plan assets	2,465				2,154
Employer contributions	516				786
Benefits paid	(1,306		)		(1,454		)
Plan assets at end of year	$	22,110			$	20,435

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,
	2014				2013				2014				2013
Reconciliation of funded status:
Plan assets in excess of (less than) projected benefit obligations	$	347			$	1,086			$	(4,377	)		$	(4,246	)
Amounts recognized in accumulated other comprehensive loss:
Net loss	1,090				297				6,576				5,972
Prior service cost	—				—				—				—
Net amount recognized in the consolidated balance sheets	$	1,437			$	1,383			$	2,199			$	1,726
Amounts recognized in the consolidated balance sheets are:
Other assets	$	347			$	1,086			$	—			$	—
Accrued liabilities	—				—				(46		)		(46		)
Pension liability	—				—				(4,331		)		(4,200		)
Accumulated other comprehensive loss – pretax	1,090				297				6,576				5,972
Net amount recognized in the consolidated balance sheets	$	1,437			$	1,383			$	2,199			$	1,726

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 2015 are as follows:

	Plans in which Assets Exceed Benefit Obligations				Plans in which Benefit Obligations Exceed Assets
Net loss	$	495			$	595

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,
	2014			2013
Discount rate for liabilities	3.9	%		4.4	%
Discount rate for expenses	4.4	%		3.4	%
Expected return on assets	8.1	%		8.1	%

Fair values and levels within the fair value hierarchy

The following tables set forth the asset allocation of the Company’s defined benefit pension plan assets and summarize the fair values and levels within the fair value hierarchy for such plan assets as of September 30, 2014 and 2013:

September 30, 2014	Asset Amount				Level 1				Level 2				Level 3
U.S. equity securities:
Large value	$	629			$	—			$	629			$	—
Large blend	10,626				—				10,626				—
Large growth	631				—				631				—
Mid blend	64				—				64				—
Small blend	55				—				55				—
Non-U.S equity securities:
Foreign large blend	1,679				—				1,679				—
Diversified emerging markets	83				—				83				—
U.S. debt securities:
Inflation protected bond	562				—				562				—
Intermediate term bond	7,001				—				4,899				2,102
High inflation bond	233				—				233				—
Non-U.S. debt securities:
Emerging markets bonds	226				—				226				—
Stable value:
Short-term bonds	321				—				321				—
Total plan assets at fair value	$	22,110			$	—			$	20,008			$	2,102

September 30, 2013	Asset Amount				Level 1				Level 2				Level 3
U.S. equity securities:
Large value	$	518			$	—			$	518			$	—
Large blend	9,632				—				9,632				—
Large growth	496				—				496				—
Mid blend	233				—				233				—
Small blend	245				—				245				—
Non-U.S equity securities:
Foreign large blend	1,617				—				1,617				—
Diversified emerging markets	31				—				31				—
U.S. debt securities:
Inflation protected bond	521				—				521				—
Intermediate term bond	6,231				—				4,232				1,999
High inflation bond	310				—				310				—
Non-U.S. debt securities:
Emerging markets bonds	102				—				102				—
Stable value:
Short-term bonds	499								499				—
Total plan assets at fair value	$	20,435			$	—			$	18,436			$	1,999

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, 2014 and 2013 were as follows:

	2014				2013
Balance at beginning of year	$	1,999			$	2,093
Actual return on plan assets	96				2
Purchases and sales of plan assets, net	7				(96		)
Balance at end of year	$	2,102			$	1,999

Asset allocation range provides flexibility for the Plan's investments

The “Asset Allocation Range” listed below anticipates these potential scenarios and provides flexibility for the Plan’s investments to vary around the objective without triggering a reallocation of the assets, as noted by the following:

	Percent of Plan Assets at September 30,						Asset Allocation Range
	2014			2013
U.S. equities	54	%		54	%		30% to 70%
Non-U.S. equities	8	%		8	%		0% to 20%
U.S. debt securities	35	%		35	%		20% to 70%
Non-U.S. debt securities	1	%		1	%		0% to 10%
Other securities	2	%		2	%		0% to 60%
Total	100	%		100	%

Expected benefit payment amount

The following defined benefit payment amounts are expected to be made in the future:

Years Ending September 30,	Projected Benefit Payments
2015	$	1,457
2016	1,359
2017	1,802
2018	1,930
2019	1,635
2020-2024	8,652

Company's contribution to U.S. multi-employer retirement plans for certain union employees

The Company contributes to one (1) U.S. multi-employer retirement plan 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
		2014		2013				2014				2013				2012
Fund ¹		Green		Green		No		$	54			$	50			$	52			No		5/31/2015

¹ The fund is the IAM National Pension Fund – EIN 51-6031295 / Plan number 2. 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.

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