XML 67 R34.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pension and Postretirement Benefit Plans (Tables)
 12 Months Ended
Aug. 31, 2012
PENSION AND POSTRETIREMENT BENEFIT PLANS [Abstract]  
Schedule of Defined Benefit Plans Disclosures [Table Text Block]
Components of the plan obligations and assets, the recorded liability and accumulated other comprehensive income (loss) ("AOCI") as of August 31, 2012 and 2011 are as follows: 
 
Pension Benefits
 
Other Postretirement Benefits
 
2012
 
2011
 
2012
 
2011
 
(In thousands)
Benefit obligation at beginning of year
$
(113,204
)
 
$
(112,517
)
 
$
(13,929
)
 
$
(17,054
)
Service cost
(2,759
)
 
(3,521
)
 
(28
)
 
(30
)
Interest cost
(5,099
)
 
(4,820
)
 
(607
)
 
(746
)
Participant contributions
(253
)
 
(270
)
 
(91
)
 
(32
)
Actuarial gain (loss)
(18,921
)
 
16,900

 
2,819

 
480

Benefits paid
3,354

 
4,028

 
768

 
872

Settlement gain (loss)
—

 
(28
)
 
—

 
—

Business combinations
(710
)
 
—

 
—

 
—

Curtailment gain (loss)
310

 
(18
)
 
—

 
—

Contractual termination benefits
(79
)
 
—

 
—

 
—

Plan amendments
—

 
(7
)
 
(2,488
)
 
2,581

Translation adjustment
12,413

 
(12,951
)
 
—

 
—

Benefit obligation at end of year
$
(124,948
)
 
$
(113,204
)
 
$
(13,556
)
 
$
(13,929
)
Fair value of plan assets at beginning of year
$
26,090

 
$
22,259

 
$
—

 
$
—

Actual return on assets
4,518

 
810

 
—

 
—

Employer contributions
4,619

 
4,607

 
677

 
840

Participant contributions
253

 
270

 
91

 
32

Benefits paid
(3,354
)
 
(4,028
)
 
(768
)
 
(872
)
Translation adjustment
(1,936
)
 
2,172

 
—

 
—

Fair value of plan assets at end of year
$
30,190

 
$
26,090

 
$
—

 
$
—

Underfunded
$
(94,758
)
 
$
(87,114
)
 
$
(13,556
)
 
$
(13,929
)
Classification of net amount recognized:
 
 
 
 
 
 
 
Accrued payroll, taxes and related benefits
$
(2,177
)
 
$
(2,441
)
 
$
(780
)
 
$
(880
)
Long-term liabilities
(92,581
)
 
(84,673
)
 
(12,776
)
 
(13,049
)
Net amount recognized
$
(94,758
)
 
$
(87,114
)
 
$
(13,556
)
 
$
(13,929
)
Amounts recognized in AOCI:
 
 
 
 
 
 
 
Net actuarial (gain) loss
$
30,134

 
$
16,739

 
$
602

 
$
3,592

Net prior service cost (credit)
355

 
403

 
(3,006
)
 
(6,225
)
Net amount recognized in AOCI
$
30,489

 
$
17,142

 
$
(2,404
)
 
$
(2,633
)
Change in plan assets and benefit obligations recognized in AOCI:
 
 
 
 
 
 
 
Net actuarial (gain) loss
$
15,394

 
$
(16,445
)
 
$
(2,819
)
 
$
(480
)
Prior service cost (credit)
—

 
7

 
2,488

 
(2,581
)
Amortization of net actuarial loss
(468
)
 
(1,658
)
 
(171
)
 
(198
)
Amortization of prior service (cost) credit
(48
)
 
(29
)
 
731

 
542

Settlement/curtailment gain (loss)
310

 
2

 
—

 
—

Translation adjustment
(1,841
)
 
2,927

 
—

 
—

Total change in AOCI
$
13,347

 
$
(15,196
)
 
$
229

 
$
(2,717
)
Schedule of Net Benefit Costs [Table Text Block]
The components of net periodic benefit cost of the years ended August 31 are as follows: 
 
Pension Benefits
 
Other Postretirement Benefits
 
2012
 
2011
 
2010
 
2012
 
2011
 
2010
 
(In thousands)
Service cost
$
2,759

 
$
3,521

 
$
2,159

 
$
28

 
$
30

 
$
30

Interest cost
5,099

 
4,820

 
4,505

 
607

 
746

 
765

Expected return on plan assets
(1,298
)
 
(1,219
)
 
(984
)
 
—

 
—

 
—

Amortization of prior service cost (credit)
48

 
29

 
48

 
(731
)
 
(542
)
 
(557
)
Recognized gains due to plan settlements
—

 
(24
)
 
(28
)
 
—

 
—

 
—

Contractual termination benefits
79

 
—

 
—

 
—

 
—

 
—

Recognized (gains) losses due to plan curtailments
(310
)
 
22

 
267

 
—

 
—

 
—

Recognized net actuarial loss
468

 
1,658

 
338

 
171

 
198

 
—

Total net periodic benefit cost
$
6,845

 
$
8,807

 
$
6,305

 
$
75

 
$
432

 
$
238
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]
Amounts expected to be amortized from AOCI and included in total net periodic benefit cost during the year ended August 31, 2013, are as follows:
 
Pension Benefits
 
Other Postretirement
Benefits
 
(In thousands)
Net actuarial loss
$
1,418

 
$
—

Prior service cost (credit)
28

 
(537
)
     Total
$
1,446

 
$
(537
)
Schedule of Accumulated and Projected Benefit Obligations [Table Text Block]
Selected information regarding the Company’s pension and OPEB plans is as follows: 
 
2012
 
2011
 
(In thousands)
Pension Plans:
 
 
 
All plans:
 
 
 
Accumulated benefit obligation
$
113,055

 
$
101,659

Plans with projected benefit obligations in excess of plan assets:
 
 
 
Projected benefit obligation
$
124,887

 
$
112,902

Accumulated benefit obligation
$
113,011

 
$
101,432

Fair value of plan assets
$
30,125

 
$
25,596

Plans with projected benefit obligations less than plan assets:
 
 
 
Projected benefit obligation
$
61

 
$
302

Accumulated benefit obligation
$
44

 
$
227

Fair value of plan assets
$
65

 
$
494

OPEB Plan:
 
 
 
Accumulated benefit obligation
$
13,556

 
$
13,929

Plans with projected benefit obligations in excess of plan assets:
 
 
 
Projected benefit obligation
$
13,556

 
$
13,929

Accumulated benefit obligation
$
13,556

 
$
13,929

Fair value of plan assets
$
—

 
$
—
Schedule of Assumptions Used [Table Text Block]
Actuarial assumptions used in the calculation of the recorded liability are as follows: 
Weighted — Average Assumptions as of August 31 :
2012
 
2011
 
2010
Discount rate on pension plans
3.8
%
 
4.9
%
 
4.0
%
Discount rate on postretirement obligation
3.5
%
 
4.5
%
 
4.5
%
Rate of compensation increase
2.2
%
 
2.5
%
 
2.4
%

Actuarial assumptions used in the calculation of the recorded benefit expense are as follows: 
Weighted — Average Assumptions as of August 31 :
2012
 
2011
 
2010
Discount rate on pension plans
4.9
%
 
4.0
%
 
5.4
%
Discount rate on postretirement obligation
4.5
%
 
4.5
%
 
5.5
%
Return on pension plan assets
6.4
%
 
5.8
%
 
7.0
%
Rate of compensation increase
2.5
%
 
2.4
%
 
2.5
%
Projected health care cost trend rate
8.0
%
 
8.0
%
 
8.0
%
Ultimate health care rate
5.0
%
 
5.0
%
 
5.0
%
Year ultimate health care trend rate is achieved
2019

 
2019

 
2016
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]
Assumed health care cost trend rates have a significant effect on the amounts reported for the OPEB plan. A one-percentage point change in assumed health care cost trend rates would have the following effects as of August 31, 2012: 
 
One-Percentage -
Point Increase
 
One-Percentage -
Point Decrease
 
(In thousands)
Effect on aggregate of service and interest cost components of net periodic postretirement benefit cost
$
62

 
$
(55
)
Effect on accumulated postretirement benefit obligation
$
1,428

 
$
(1,231
)
Pension Plan Weighted Average Investment Allocation [Table Text Block]
The Company’s pension plan weighted-average asset allocation as of August 31, 2012 and 2011, and target allocation, by asset category are as follows: 
 
Plan Assets
 
Target
Allocation
Asset Category
2012
 
2011
 
2012
 
2011
Equity securities
27
%
 
37
%
 
22
%
 
45
%
Debt securities
21
%
 
18
%
 
13
%
 
15
%
Fixed insurance contracts
40
%
 
37
%
 
43
%
 
35
%
Cash
12
%
 
8
%
 
22
%
 
5
%
Total
100
%
 
100
%
 
100
%
 
100
%
Schedule of Allocation of Plan Assets [Table Text Block]
The fair values of the Company’s pension plan assets as of August 31, 2012 and 2011, all of which are for foreign plans, are as follows: 
 
2012
 
2011
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
(In thousands)
Equity securities
$
8,217

—

$
8,217

 
$
—

 
$
—

 
$
9,650

 
$
9,650

 
$
—

 
$
—

Debt securities
6,388

 
6,388

 
—

 
—

 
4,673

 
4,673

 
—

 
—

Fixed insurance contracts
11,946

 
—

 
—

 
11,946

 
9,536

 
—

 
—

 
9,536

Cash
3,572

 
3,572

 
—

 
—

 
2,098

 
2,098

 
—

 
—

Other
67

 
—

—

—

 
67

 
133

 
—

 
—

 
133

Total
$
30,190

 
$
18,177

 
$
—

 
$
12,013

 
$
26,090

 
$
16,421

 
$
—

 
$
9,669
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]
The change in fair value of the Company’s pension plan assets classified as Level 3 for the years ended August 31, 2012 and 2011, all of which are for foreign plans, is as follows:
 
2012
 
2011
 
(In thousands)
Balance, beginning of fiscal year
$
9,669

 
$
8,378

Actual return on plan assets
3,007

 
(880
)
Purchases, sales, issuances, and settlements, net
743

 
1,002

Foreign currency translation
(1,406
)
 
1,169

Balance, end of fiscal year
$
12,013

 
$
9,669
Schedule of Expected Benefit Payments [Table Text Block]
The Company expects to contribute $4.7 million for its pension obligations and $0.8 million to its other postretirement plan in 2013. The benefit payments, which reflect expected future service, are as follows:
 
Pension
Benefits
 
OPEB
Benefits
 
(In thousands)
2013
$
3,366

 
$
791

2014
3,625

 
815

2015
4,187

 
836

2016
5,005

 
852

2017
4,572

 
840

Years 2018 — 2022
24,783

 
4,257