XML 24 R11.htm IDEA: XBRL DOCUMENT v3.7.0.1
Retirement and Postretirement Plans
 9 Months Ended
Jun. 30, 2017
Compensation and Retirement Disclosure [Abstract]  
Retirement and Postretirement Plans
Retirement and Postretirement Plans

We sponsor five defined benefit retirement plans. Those plans include: a master defined benefit retirement plan, a nonqualified supplemental executive defined benefit retirement plan, and three defined benefit retirement plans covering employees in Germany and France. Benefits for such plans are based primarily on years of service and the employee’s level of compensation during specific periods of employment. We contribute funds to trusts as necessary to provide for current service and for any unfunded projected future benefit obligation over a reasonable period of time. All of our plans have a September 30 measurement date. The following table details the components of net pension expense for our defined benefit retirement plans.
 
Quarter Ended June 30
 
Year to Date Ended June 30
 
2017
 
2016
 
2017
 
2016
Service cost
$
1.4

 
$
1.3

 
$
4.3

 
$
3.8

Interest cost
2.5

 
2.8

 
7.4

 
8.2

Expected return on plan assets
(3.7
)
 
(3.3
)
 
(11.0
)
 
(9.8
)
Amortization of unrecognized prior service cost, net
—

 
0.1

 
0.1

 
0.2

Amortization of net loss
1.5

 
1.1

 
4.6

 
3.4

Net pension expense
$
1.7

 
$
2.0

 
$
5.4

 
$
5.8



In addition to defined benefit retirement plans, we also offer two domestic postretirement health care plans, one of which was assumed in the acquisition of Welch Allyn, that provide health care benefits to qualified retirees and their dependents. The plans are closed to new participants and include retiree cost sharing provisions. Annual costs related to these plans are not significant.

We have defined contribution savings plans that cover substantially all U.S. employees and certain non-U.S. employees. The general purpose of these plans is to provide additional financial security during retirement by providing employees with an incentive to make regular savings. Our contributions to the plans are based on eligibility and employee contributions. Expense under these plans was $6.7 million and $6.8 million in each of the quarterly periods ended June 30, 2017 and 2016, and $19.8 million and $20.1 million in the year to date periods ended June 30, 2017 and 2016.