DEFINED BENEFIT PENSION EXPENSE

6 Months Ended

Mar. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

NOTE 12 – DEFINED BENEFIT PENSION EXPENSE

Defined benefit pension expense was as follows:

	Three Months Ended March 31,						Six Months Ended March 31,
	2014			2013			2014			2013
Service cost	$	45		$	48		$	90		$	98
Interest cost		2,500			2,422			5,000			4,847
Expected return on plan assets		(2,885	)		(3,136	)		(5,770	)		(6,274	)
Amortization:
Prior service cost		4			5			8			10
Recognized actuarial loss		489			840			978			1,680
Loss on pension settlement		—			—			—			2,142
Net periodic expense	$	153		$	179		$	306		$	2,503

During the second quarter of 2014, the company contributed €1,300 (U.S. $1,776), which equaled the net balance sheet liability, in settlement of all remaining obligations for a non U.S. Pension liability.  There were 0 gains or losses recorded for this settlement.

First quarter of 2013, Selling, general and administrative expenses included a $2,142, non-cash, pension settlement loss resulting from the lump-sum buyout of certain participant’s balances in the Company’s defined benefit plan. The buyouts, funded by the pension plan, reduced the Company’s net pension liability by $3,472 and increased Accumulated Other Comprehensive Income (Loss) by $3,649.