Income Taxes (Tables)

12 Months Ended

Sep. 30, 2012

Income Taxes

Schedule of components of income before provision for income taxes

	Year Ended September 30,
	2010		2011			2012
Income before income taxes:
U.S.	$	12,615	$	44,244		$	67,968
Foreign		2,977		5,154			9,027
Total	$	15,592	$	49,398		$	76,995
Provision for income taxes:
Current:
U.S. Federal	$	2,722	$	5,952		$	15,836
Foreign		678		2,145			1,712
State		696		825			2,079
Total		4,096		8,922			19,627
Deferred:
U.S. Federal		720		7,411			6,314
Foreign		147		(685	)		585
State		1,754		2,308			601
Valuation allowance		—		314			(314	)
Total		2,621		9,348			7,186
Total provision for income taxes	$	6,717	$	18,270		$	26,813

Schedule of provision for (benefit from) income taxes applicable to results of operations differed from the U.S. federal statutory rate

	Year Ended September 30,
	2010			2011			2012
Statutory federal tax rate		35	%		35	%		35	%
Tax provision for income taxes at the statutory rate	$	5,457		$	17,289		$	26,949
Foreign tax rate differentials		(216	)		(342	)		(864	)
Provision for state taxes, net of federal taxes		468			1,289			1,578
U.S. tax on distributed and undistributed earnings of foreign subsidiaries		165			—			335
Manufacturer's deduction		(193	)		(910	)		(1,715	)
Tax credits		(476	)		(713	)		—
State tax rate reduction impact on deferred tax asset		1,149			1,228			89
Change in Valuation Allowance		—			314			(314	)
Other, net		363			115			755
Provision for income taxes at effective tax rate	$	6,717		$	18,270		$	26,813

Schedule of deferred tax assets (liabilities)

	September 30,
	2011			2012
Current deferred tax assets (liabilities):
Inventories	$	3,106		$	2,996
Pension and postretirement benefits		3,638			3,726
Accrued expenses and other		585			381
Accrued compensation and benefits		978			1,166
Tax attributes		109			740
TIMET Agreement		925			924
Total net current deferred tax assets	$	9,341		$	9,933
Noncurrent deferred tax assets (liabilities):
Property, plant and equipment, net	$	(22,960	)	$	(25,665	)
Intangible assets		(1,973	)		(1,888	)
Pension and postretirement benefits		72,072			79,653
Accrued compensation and benefits		2,556			2,889
TIMET Agreement		13,099			12,147
Tax attributes		1,337			—
Other accruals		1,296			1,119
		65,427			68,255
Valuation Allowance		(314	)		—
Total net noncurrent deferred tax assets	$	65,113		$	68,255
Net deferred tax assets (liabilities)	$	74,454		$	78,188

Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits

	October 1, 2009 To September 30, 2010		October 1, 2010 To September 30, 2011		October 1, 2011 To September 30, 2012
Balance at beginning of period	$	264	$	264	$	264
Gross Increases—current period tax positions		—		—		—
Gross Decreases—current period tax positions		—		—		—
Gross Increases—tax positions in prior periods		—		—		—
Gross Decreases—tax positions in prior periods		—		—		—
Gross Decreases—settlements with taxing authorities		—		—		—
Gross Decreases—lapse of statute of limitations		—		—		—
Balance at end of period	$	264	$	264	$	264