XML 34 R16.htm IDEA: XBRL DOCUMENT v3.19.1
Benefit Plans
6 Months Ended
Feb. 28, 2019
Retirement Benefits [Abstract]  
Benefit plans
Benefit Plans

We have various pension and other defined benefit and defined contribution plans, in which substantially all employees may participate. We also have non-qualified supplemental executive and Board retirement plans.

Components of net periodic benefit costs for the three and six months ended February 28, 2019, and 2018, are as follows:
 
Qualified
Pension Benefits
 
Non-Qualified
Pension Benefits
 
Other Benefits
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Components of net periodic benefit costs for the three months ended February 28 are as follows:
 (Dollars in thousands)
  Service cost
$
9,648

 
$
9,920

 
$
78

 
$
137

 
$
263

 
$
236

  Interest cost
7,099

 
5,991

 
187

 
178

 
274

 
227

  Expected return on assets
(11,242
)
 
(12,049
)
 

 

 

 

  Prior service cost (credit) amortization
42

 
360

 
(19
)
 
7

 
(139
)
 
(142
)
  Actuarial (gain) loss amortization
3,087

 
4,511

 
1

 
16

 
(407
)
 
(306
)
  Settlement (gain) loss
169

 

 

 

 

 

Net periodic benefit cost
$
8,803

 
$
8,733

 
$
247

 
$
338

 
$
(9
)
 
$
15

Components of net periodic benefit costs for the six months ended February 28 are as follows:
 
  Service cost
$
19,296

 
$
19,839

 
$
155

 
$
274

 
$
527

 
$
472

  Interest cost
14,198

 
11,992

 
374

 
356

 
547

 
454

  Expected return on assets
(22,484
)
 
(24,089
)
 

 

 

 

  Prior service cost (credit) amortization
85

 
719

 
(37
)
 
15

 
(278
)
 
(283
)
  Actuarial (gain) loss amortization
6,174

 
11,399

 
1

 
30

 
(814
)
 
(612
)
  Settlement (gain) loss
169

 

 

 

 

 

Net periodic benefit cost
$
17,438

 
$
19,860

 
$
493

 
$
675

 
$
(18
)
 
$
31



The service cost component of defined benefit net periodic benefit cost is recorded in cost of goods sold and marketing, general and administrative expenses. The other components of net periodic benefit cost are reflected in other (income) loss.

Employer Contributions

Total contributions to be made during fiscal 2019 will depend primarily on market returns on the pension plan assets and minimum funding level requirements. During the six months ended February 28, 2019, we made no contributions to the pension plans. At this time, we do not anticipate being required to make a contribution for our benefit plans in fiscal 2019.