Income Taxes (Tables)

12 Months Ended

Sep. 30, 2016

Income Taxes

Schedule of components of income before provision for income taxes

	Year Ended September 30,
	2014		2015		2016
Income before income taxes:
U.S.	$	(360)	$	36,327	$	(4,160)
Foreign		5,480		10,849		7,911
Total	$	5,120	$	47,176	$	3,751
Provision for income taxes:
Current:
U.S. Federal	$	427	$	11,207	$	(4,427)
Foreign		1,012		1,690		1,368
State		541		686		(141)
Total		1,980		13,583		(3,200)
Deferred:
U.S. Federal		(983)		(79)		4,582
Foreign		302		690		(105)
State		70		2,368		(2,954)
Valuation allowance		—		128		408
Total		(611)		3,107		1,931
Total provision for income taxes	$	1,369	$	16,690	$	(1,269)

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

	Year Ended September 30,
	2014			2015			2016
Statutory federal tax rate		35	%		35	%		35	%
Tax provision for income taxes at the statutory rate	$	1,792		$	16,512		$	1,313
Foreign tax rate differentials		(605)			(1,417)			(1,505)
Provision for state taxes, net of federal taxes		230			818			778
U.S. tax on distributed and undistributed earnings of foreign subsidiaries		173			419			523
Manufacturer’s deduction		—			(1,213)			(98)
Tax credits		(91)			(240)			(1,198)
State tax rate change impact on deferred tax asset		157			1,565			(1,819)
Change in Valuation Allowance		—			128			408
Other, net		(287)			118			329
Provision for income taxes at effective tax rate	$	1,369		$	16,690		$	(1,269)
Effective tax rate		26.7	%		35.4	%		(33.8)	%

Schedule of deferred tax assets (liabilities)

	September 30,
	2015		2016
Deferred tax assets:
Pension and postretirement benefits	$	77,076	$	93,238
TIMET Agreement		10,024		9,361
Inventories		3,771		3,405
Accrued compensation and benefits		2,027		2,264
Accrued expenses and other		2,085		3,132
Tax attributes		778		1,642
Valuation allowance		(128)		(532)
Total deferred tax assets	$	95,633	$	112,510
Deferred tax liabilities:
Property, plant and equipment, net	$	(34,109)	$	(41,645)
Intangible and other		(1,271)		(1,433)
Total deferred tax liabilities	$	(35,380)	$	(43,078)
Net deferred tax assets (liabilities)	$	60,253	$	69,432
Net current deferred tax assets	$	6,295	$	—
Net long-term deferred tax assets (liabilities)	$	53,958	$	69,432