XML 71 R23.htm IDEA: XBRL DOCUMENT v2.4.0.8
401(k) and Profit Sharing Plan
12 Months Ended
Sep. 30, 2013
401(k) and Profit Sharing Plan  
401(k) and Profit Sharing Plan

15. 401(k) and Profit Sharing Plan

The Company sponsors the Sally Beauty 401(k) and Profit Sharing Plan (the "401k Plan"), which is a qualified defined contribution plan. The 401k Plan covers employees of the Company who meet certain eligibility requirements and who are not members of a collective bargaining unit. Under the terms of the 401k Plan, employees may contribute a percentage of their annual compensation to the 401k Plan up to certain maximums, as defined by the 401k Plan and by the U.S. Internal Revenue Code. The Company currently matches a portion of employee contributions to the plan. The Company recognized expense of $6.7 million, $6.2 million and $5.9 million in the fiscal years ended September 30, 2013, 2012 and 2011, respectively, related to such employer matching contributions and these amounts are included in selling, general and administrative expenses.

In addition, pursuant to the 401k Plan, the Company may make profit sharing contributions to the accounts of employees who meet certain eligibility requirements and who are not members of a collective bargaining unit. The Company's profit sharing contributions to the 401k Plan are determined by the Compensation Committee of the Company's Board of Directors. The Company recognized expense of $3.2 million, $3.3 million and $3.1 million in the fiscal years ended September 30, 2013, 2012 and 2011, respectively, related to such profit sharing contributions and these amounts are included in selling, general and administrative expenses.