Benefits and Pension Plans (Tables)

12 Months Ended

Aug. 31, 2019


	Year Ended August 31,
	2019		2018		2017
Change in benefit obligation
Projected benefit obligation at beginning of year	$	21,860	$	22,673	$	23,636
Service cost		283		283		288
Interest cost		696		629		681
Actuarial (gain) loss		995		17		(533)
Settlements		—		—		(313)
Benefits paid		(3,747)		(1,742)		(1,086)
Projected benefit obligation at end of year	$	20,087	$	21,860	$	22,673

Change in plan assets
Fair value of plan assets at beginning of year	$	9,855	$	9,003	$	8,440
Actual return on plan assets		181		509		757
Employer contribution		1,570		2,085		1,205
Settlements		—		—		(313)
Benefits paid		(3,747)		(1,742)		(1,086)
Fair value of plan assets at end of year	$	7,859	$	9,855	$	9,003

Funded status at end of year	$	(12,228)	$	(12,005)	$	(13,670)


	Year Ended August 31,
	2019		2018		2017
Amounts recognized in consolidated balance sheets
Noncurrent assets	$	—	$	301	$	566
Current liabilities		(1,743)		(1,570)		(1,570)
Noncurrent liabilities		(10,485)		(10,736)		(12,666)
Net amount recognized in consolidated balance sheets	$	(12,228)	$	(12,005)	$	(13,670)

Actuarial present value of benefit obligation and funded status
Accumulated benefit obligations	$	18,244	$	20,075	$	21,007
Projected benefit obligations	$	20,087	$	21,858	$	22,673
Plan assets at fair value	$	7,859	$	9,855	$	9,003

Amounts recognized in accumulated other comprehensive income
Prior service cost	$	47	$	54	$	54
Net actuarial loss		9,638		9,377		9,890
Adjustment to pre-tax accumulated other comprehensive income	$	9,685	$	9,431	$	9,944


	Year Ended August 31,
	2019		2018		2017
Other changes in plan assets and benefit obligations recognized in other comprehensive income
Net (gain)/loss	$	1,863	$	(704)	$	1,277
Amortization of loss		(472)		(484)		(895)
Supplemental plan assumption change		(620)		676		(2,038)
Amortization of prior service cost		(3)		(3)		(3)
Effect of settlement on accumulated other comprehensive income		(511)		—		(14)
Total recognized in other comprehensive income		257		(515)		(1,673)

Net periodic pension cost		1,537		937		1,353

Total recognized in net periodic pension cost and other comprehensive income	$	1,794	$	422	$	(320)

Estimated amounts that will be amortized from accumulated comprehensive income over the next fiscal year
Prior service cost	$	3	$	3	$	3
Net actuarial loss		500		475		485



	2019		2018		2017
Components of net periodic benefit cost
Service cost	$	283	$	283	$	288
Interest cost		696		629		681
Expected return on plan assets		(428)		(462)		(528)
Amortization of prior service cost		3		3		3
Amortization of accumulated loss		472		484		895
Settlement and curtailment loss		511		—		14
Net periodic benefit cost	$	1,537	$	937	$	1,353


	2019		2018		2017
Discount rate
Qualified plan	2.58	%	3.80	%	3.30	%
Supplemental plan	2.37	%	3.57	%	2.73	%
NEPTCO plan	2.29	%	3.59	%	2.95	%
Rate of compensation increase
Qualified and Supplemental plan	3.50	%	3.50	%	3.50	%
NEPTCO plan	—	%	—	%	—	%


	2019		2018		2017
Discount rate
Qualified plan	3.80	%	3.30	%	2.90	%
Supplemental plan	3.57	%	2.73	%	2.97	%
NEPTCO plan	3.59	%	2.95	%	2.55	%
Expected long-term return on plan assets
Qualified plan	5.60	%	5.40	%	6.50	%
Supplemental plan	—	%	—	%	—	%
NEPTCO plan	5.40	%	5.20	%	6.50	%
Rate of compensation increase
Qualified and Supplemental plan	3.50	%	3.50	%	3.50	%
NEPTCO plan	—	%	—	%	—	%


	Target
	Allocation		Percentage of Plan Assets as of August 31,
Asset Category	Range		2019		2018		2017
Equity securities	10-80	%	44	%	46	%	39	%
Debt securities	20-70	%	56	%	54	%	61	%
Other	0-100	%	—	%	—	%	—	%
Total	100	%	100	%	100	%	100	%


	Target
	Allocation		Percentage of Plan Assets as of August 31,
Asset Category	Range		2019		2018		2017
Equity securities	10-80	%	44	%	46	%	43	%
Debt securities	20-70	%	56	%	54	%	51	%
Other	0-100	%	—	%	—	%	6	%
Total	100	%	100	%	100	%	100	%