Retirement Benefits (Tables)

12 Months Ended

Sep. 30, 2016

Principal Assumptions of Esterline and CMC Plans

Principal assumptions of the Esterline, CMC and Other Non-U.S. plans are as follows:

	Esterline		CMC		Other Non-U.S.
	Defined Benefit		Defined Benefit		Defined Benefit
	Pension Plans		Pension Plans		Pension Plans
	2016	2015	2016	2015	2016	2015
Principal assumptions as of year end:
Discount rate	3.60%	4.40%	3.22%	4.00%	0.90 - 7.75%	1.80 - 8.25%
Rate of increase in future    compensation levels	4.28%	4.22%	2.75%	3.00%	2.96 - 10.13%	4.50 - 8.90%
Assumed long-term rate of    return on plan assets	7.00%	7.00%	5.66%	5.70%	3.25 - 8.00%	3.25 - 8.00%

	Esterline		CMC
	Post-Retirement		Post-Retirement
	Pension Plans		Pension Plans
	2016	2015	2016	2015
Principal assumptions as of year end:
Discount rate	3.60%	4.40%	3.16%	4.00%
Initial weighted average health care trend rate	6.00%	6.00%	6.00%	3.70%
Ultimate weighted average health care trend rate	6.00%	6.00%	4.20%	3.10%

Allocations By Investment Type

Allocations by investment type are as follows:

		Actual
	Target	2016			2015
Plan assets allocation as of fiscal year end:
Equity securities	35 - 70%		56.4	%		56.8	%
Debt securities	30 - 65%		37.1	%		38.2	%
Cash	0%		6.5	%		5.0	%
Total			100.0	%		100.0	%

Net Periodic Pension Cost for Defined Benefit Plans

Net periodic pension cost for the Company’s defined benefit plans at the end of each fiscal year consisted of the following:

In Thousands	Defined Benefit									Post-Retirement
	Pension Plans									Benefit Plans
	2016			2015			2014			2016			2015			2014
Components of Net Periodic Cost
Service cost	$	12,861		$	11,811		$	11,367		$	342		$	359		$	489
Interest cost		18,095			16,159			19,387			473			464			685
Expected return on plan assets		(24,491	)		(23,872	)		(25,999	)		-			-			-
Contractual termination		-			-			94			-			-			-
Curtailment		-			-			23			-			-			(1,747	)
Settlement		2			3,522			-			-			-			-
Amortization of prior service cost		487			404			107			(17	)		(63	)		(151	)
Amortization of actuarial    (gain) loss		6,590			5,165			6,052			-			-			38
Net periodic cost (benefit)	$	13,544		$	13,189		$	11,031		$	798		$	760		$	(686	)

Funded Status of Defined Benefit Pension and Post-Retirement Plans

The funded status of the defined benefit pension and post-retirement plans at the end of fiscal 2016 and 2015 were as follows:

In Thousands	Defined Benefit						Post-Retirement
	Pension Plans						Benefit Plans
	2016			2015			2016			2015
Benefit Obligations
Beginning balance	$	453,283		$	473,348		$	12,187		$	13,797
Currency translation adjustment		268			(23,642	)		26			(1,923	)
Service cost		12,861			11,811			342			359
Interest cost		18,095			16,159			473			464
Plan participants contributions		376			256			-			-
Amendment		-			3,407			-			-
Acquisitions		-			13,982			-			-
Actuarial (gain) loss		44,136			(2,552	)		738			(67	)
Other adjustments		(859	)		(1,096	)		-			-
Benefits paid		(22,862	)		(38,390	)		(530	)		(443	)
Ending balance	$	505,298		$	453,283		$	13,236		$	12,187
Plan Assets - Fair Value
Beginning balance	$	389,461		$	427,474		$	-		$	-
Currency translation adjustment		341			(19,977	)		-			-
Realized and unrealized gain (loss) on plan assets		45,817			2,021			-			-
Plan participants contributions		376			256			-			-
Company contribution		12,041			9,185			530			443
Acquisitions		-			9,988			-			-
Other adjustments		1,466			-			-			-
Expenses paid		(859	)		(1,096	)		-			-
Benefits paid		(22,862	)		(38,390	)		(530	)		(443	)
Ending balance	$	425,781		$	389,461		$	-		$	-
Funded Status
Fair value of plan assets	$	425,781		$	389,461		$	-		$	-
Benefit obligations		(505,298	)		(453,283	)		(13,236	)		(12,187	)
Net amount recognized	$	(79,517	)	$	(63,822	)	$	(13,236	)	$	(12,187	)
Amount Recognized in the Consolidated Balance Sheet
Non-current asset	$	2,395		$	2,172		$	-		$	-
Current liability		(1,912	)		(2,463	)		(716	)		(699	)
Non-current liability		(80,000	)		(63,531	)		(12,520	)		(11,488	)
Net amount recognized	$	(79,517	)	$	(63,822	)	$	(13,236	)	$	(12,187	)
Amounts Recognized in Accumulated Other Comprehensive Income
Net actuarial loss (gain)	$	112,420		$	96,073		$	975		$	232
Prior service cost		2,951			3,436			-			(17	)
Ending balance	$	115,371		$	99,509		$	975		$	215

Estimated Future Benefit Payments Expected to be Paid from Plan or from Assets

Estimated future benefit payments expected to be paid from the plan or from the Company’s assets are as follows:

In Thousands
Fiscal Year
2017	$	26,816
2018		27,595
2019		29,247
2020		30,328
2021		32,418
2022 - 2026		170,693

Pension Plan

Allocations By Investment Type

The following table presents the fair value of the Company’s Pension Plan assets as of September 30, 2016, by asset category segregated by level within the fair value hierarchy, as described in Note 8.

In Thousands	Fair Value Hierarchy
	Level 1		Level 2		Total
Asset category:
Equity Funds:
Registered Investment Company Funds - U.S. Equity	$	104,075	$	-	$	104,075
Commingled Trust Funds - U.S. Equity		-		-		-
U.S. Equity Securities		55,196		-		55,196
Non-U.S. Equity Securities		28,031		-		28,031
Commingled Trust Funds - Non-U.S. Securities		-		52,973		52,973
Fixed Income Securities:
Commingled Trust Funds - Fixed Income		-		82,627		82,627
Non-U.S. Foreign Commercial and Government Bonds		-		75,414		75,414
Cash and Cash Equivalents		27,465		-		27,465
Total	$	214,767	$	211,014	$	425,781

The following table presents the fair value of the Company’s Pension Plan assets as of October 2, 2015, by asset category segregated by level within the fair value hierarchy, as described in Note 8.

In Thousands	Fair Value Hierarchy
	Level 1		Level 2		Total
Asset category:
Equity Funds:
Registered Investment Company Funds - U.S. Equity	$	95,481	$	-	$	95,481
Commingled Trust Funds - U.S. Equity		-		25,307		25,307
U.S. Equity Securities		30,868		-		30,868
Non-U.S. Equity Securities		20,898		-		20,898
Commingled Trust Funds - Non-U.S. Securities		-		48,592		48,592
Fixed Income Securities:
Commingled Trust Funds - Fixed Income		-		80,424		80,424
Non-U.S. Foreign Commercial and Government Bonds		-		68,390		68,390
Cash and Cash Equivalents		19,501		-		19,501
Total	$	166,748	$	222,713	$	389,461