Pension and Post-retirement Benefits (Tables)

12 Months Ended

Sep. 30, 2019

Pension and Post-retirement Benefits

Schedule of status of employee pension benefit plans and other postretirement benefit plans

	Defined Benefit				Postretirement
	Pension Plans				Health Care Benefits
	Year Ended				Year Ended
	September 30,				September 30,
	2018		2019		2018		2019
Change in Benefit Obligation:
Projected benefit obligation at beginning of year	$	310,803	$	278,280	$	117,424	$	108,013
Service cost		5,536		5,239		336		318
Interest cost		10,801		10,652		4,311		4,353
Actuarial gains (losses)		(19,756)		42,130		(10,395)		4,245
Benefits paid		(14,178)		(13,734)		(3,663)		(3,095)
Transfer to third-party insurance company		(13,576)		—		—		—
Administrative expenses		(1,350)		(1,089)		—		—
Projected benefit obligation at end of year	$	278,280	$	321,478	$	108,013	$	113,834
Change in Plan Assets:
Fair value of plan assets at beginning of year	$	224,094	$	222,273	$	—	$	—
Actual return on assets		18,501		13,230		—		—
Employer contributions		8,782		5,237		3,663		3,095
Benefits paid		(14,178)		(13,734)		(3,663)		(3,095)
Transfer to third-party insurance company		(13,576)		—		—		—
Administrative expenses		(1,350)		(1,089)		—		—
Fair value of plan assets at end of year	$	222,273	$	225,917	$	—	$	—
Funded Status of Plan:
Unfunded status	$	(56,007)	$	(95,561)	$	(108,013)	$	(113,834)

Schedule of amounts recognized in the consolidated balance sheets and amounts expected to be recognized from AOCI into the statement of operations in the following year

	Defined Benefit				Postretirement				Non-Qualified				All Plans
	Pension Plans				Health Care Benefits				Pension Plans				Combined
	September 30,				September 30,				September 30,				September 30,
	2018		2019		2018		2019		2018		2019		2018		2019
Accrued pension and postretirement benefits:
Current	$	—	$	—	$	(5,000)	$	(4,155)	$	(95)	$	(95)	$	(5,095)	$	(4,250)
Non-current		(56,007)		(95,561)		(103,013)		(109,679)		(621)		(624)		(159,641)		(205,864)
Accrued pension and postretirement benefits	$	(56,007)	$	(95,561)	$	(108,013)	$	(113,834)	$	(716)	$	(719)	$	(164,736)	$	(210,114)
Accumulated other comprehensive loss:
Net loss		38,808		80,711		21,891		24,650		—		—		60,699		105,361
Prior service cost		1,839		2,066		—		—		—		—		1,839		2,066
Total accumulated other comprehensive loss	$	40,647	$	82,777	$	21,891	$	24,650	$	—	$	—	$	62,538	$	107,427

Schedule of components of net periodic pension and postretirement benefit cost

	Defined Benefit Pension Plans
	Year Ended September 30,
	2017		2018		2019
Service cost	$	6,282	$	5,536	$	5,239
Interest cost		10,577		10,801		10,652
Expected return on assets		(14,419)		(15,157)		(14,907)
Amortization of prior service cost		808		374		228
Recognized actuarial loss		11,267		4,910		1,449
Net periodic cost	$	14,515	$	6,464	$	2,661

	Postretirement
	Health Care Benefits
	Year Ended September 30,
	2017		2018		2019
Service cost	$	350	$	336	$	318
Interest cost		4,292		4,311		4,353
Recognized actuarial loss		4,278		2,999		1,487
Net periodic cost	$	8,920	$	7,646	$	6,158

Schedule of assumptions used to determine actuarial present value of the projected pension benefit obligation and postretirement health care benefit obligation for the plans

	September 30,		September 30,
	2018		2019
Discount rate (postretirement health care)	4.13	%	3.13	%
Discount rate (U.S. pension plan)	4.00	%	2.88	%
Discount rate (U.K. pension plan)	2.80	%	1.70	%
Rate of compensation increase (U.S. pension plan only)	2.50	%	2.50	%

Schedule of assumptions used to determine net periodic pension and postretirement health care benefit costs for the plans

	Defined Benefit
	Pension and
	Postretirement Health
	Care Plans
	Year Ended
	September 30,
	2017		2018		2019
Discount rate (postretirement health care plan)	3.50	%	3.75	%	4.13	%
Discount rate (U.S. pension plan)	3.25	%	3.63	%	4.00	%
Discount rate (U.K. pension plan)	2.30	%	2.50	%	2.80	%
Expected return on plan assets (U.S. pension plan)	7.50	%	7.25	%	7.25	%
Expected return on plan assets (U.K. pension plan)	2.70	%	3.30	%	3.20	%
Rate of compensation increase (U.S. pension plan only)	3.50	%	2.50	%	2.50	%

Schedule of plan assets by level within the fair value hierarchy

	September 30, 2018
	Level 1
	Active		Level 2
	Markets for		Other
	Identical		Observable
	Assets		Inputs		NAV		Total
U.S. Pension Plan Assets:
U.S. common stock mutual funds	$	—	$	—	$	72,947	$	72,947
Common /collective funds
Bonds		—		—		80,250		80,250
U.S. common stock		—		—		32,547		32,547
International equity		—		—		16,152		16,152
Total U.S.	$	—	$	—	$	201,896	$	201,896
U.K. Plan Assets:
Equities	$	—	$	—	$	8,150	$	8,150
Bonds		—		—		9,781		9,781
Other		—		—		2,446		2,446
Total U.K.	$	—	$	—	$	20,377	$	20,377
Total pension plan assets	$	—	$	—	$	222,273	$	222,273

	September 30, 2019
	Level 1
	Active		Level 2
	Markets for		Other
	Identical		Observable
	Assets		Inputs		NAV		Total
U.S. Pension Plan Assets:
U.S. common stock mutual funds	$	—	$	—	$	67,954	$	67,954
Common /collective funds
Bonds		—		—		81,871		81,871
U.S. common stock		—		—		30,292		30,292
International equity		—		—		24,561		24,561
Total U.S.	$	—	$	—	$	204,678	$	204,678
U.K. Plan Assets:
Equities	$	—	$	—	$	6,585	$	6,585
Bonds		—		—		12,106		12,106
Other		—		—		2,548		2,548
Total U.K.	$	—	$	—	$	21,239	$	21,239
Total pension plan assets	$	—	$	—	$	225,917	$	225,917

Schedule of asset classes as a percent of total assets

Asset Class	Target(1)
Equity	60	%
Fixed Income	40	%
Real Estate and Other	—	%

⁽¹⁾ From time to time the Company may adjust the target allocation by an amount not to exceed 10%.

Schedule of expected benefit payments

			Postretirement
Fiscal Year Ending September 30	Pension		Health Care
2020	$	14,858	$	4,155
2021		15,282		4,487
2022		15,830		4,794
2023		16,281		4,965
2024		16,682		4,894
2025 - 2029 (in total)		86,758		23,939