Income Taxes (Tables)

12 Months Ended

Sep. 30, 2015

Income Taxes

Schedule of components of income before provision for income taxes

	Year Ended September 30,
	2013		2014		2015
Income before income taxes:
U.S.	$	23,555	$	(360)	$	36,327
Foreign		8,443		5,480		10,849
Total	$	31,998	$	5,120	$	47,176
Provision for income taxes:
Current:
U.S. Federal	$	2,125	$	427	$	11,207
Foreign		1,419		1,012		1,690
State		85		541		686
Total		3,629		1,980		13,583
Deferred:
U.S. Federal		5,907		(983)		(79)
Foreign		623		302		690
State		262		70		2,368
Valuation allowance		—		—		128
Total		6,792		(611)		3,107
Total provision for income taxes	$	10,421	$	1,369	$	16,690

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

	Year Ended September 30,
	2013			2014			2015
Statutory federal tax rate		35	%		35	%		35	%
Tax provision for income taxes at the statutory rate	$	11,199		$	1,792		$	16,512
Foreign tax rate differentials		(913)			(605)			(1,417)
Provision for state taxes, net of federal taxes		473			230			818
U.S. tax on distributed and undistributed earnings of foreign subsidiaries		354			173			419
Manufacturer’s deduction		(217)			—			(1,213)
Tax credits		(78)			(91)			(240)
State tax rate change impact on deferred tax asset		(182)			157			1,565
Change in Valuation Allowance		—			—			128
Other, net		(215)			(287)			118
Provision for income taxes at effective tax rate	$	10,421		$	1,369		$	16,690
Effective tax rate		32.6	%		26.7	%		35.4	%

Schedule of deferred tax assets (liabilities)

	September 30,
	2014		2015
Deferred tax assets:
Pension and postretirement benefits	$	63,124	$	77,076
TIMET Agreement		11,200		10,024
Inventories		2,662		3,771
Accrued compensation and benefits		1,606		2,027
Accrued expenses and other		2,093		2,085
Tax attributes		1,385		778
Valuation allowance		—		(128)
Total deferred tax assets	$	82,070	$	95,633
Deferred tax liabilities:
Property, plant and equipment, net	$	(29,789)	$	(34,109)
Intangible and other		(1,345)		(1,271)
Total deferred tax liabilities	$	(31,134)	$	(35,380)
Net deferred tax assets (liabilities)	$	50,936	$	60,253
Current deferred tax assets	$	6,297	$	6,295
Long-term deferred tax asset	$	44,639	$	53,958

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

	October 1, 2012 To		October 1, 2013 To		October 1, 2014 To
	September 30,		September 30,		September 30,
	2013		2014		2015
Balance at beginning of period	$	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		(264)		—		—
Balance at end of period	$	—	$	—	$	—