EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Sep. 30, 2019

Retirement Benefits [Abstract]

Reconciliation of the Changes in the Pension Benefit Obligations and Fair Value of Pension Plan Assets

The following table provides a reconciliation of the changes in the pension benefit obligations and fair value of Pension Plan assets over the two-year period ended September 30, 2019 and a statement of the funded status as of September 30, 2019 and 2018:

(in thousands)	2019			2018
Accumulated Benefit Obligation	$	119,845		$	106,205
Changes in projected benefit obligations
Projected benefit obligation at beginning of year	$	106,205		$	109,976
Interest cost	4,389			4,077
Actuarial (gain) loss	16,914			(2,143		)
Benefits paid	(7,663		)	(5,705		)
Projected benefit obligation at end of year	$	119,845		$	106,205
Change in plan assets
Fair value of plan assets at beginning of year	$	94,897		$	92,816
Actual return on plan assets	3,865			7,754
Employer contribution	43			32
Benefits paid	(7,663		)	(5,705		)
Fair value of plan assets at end of year	$	91,142		$	94,897
Funded status of the plan at end of year	$	(28,703	)	$	(11,308	)

Amounts Recognized in the Consolidated Balance Sheets

The amounts recognized in the Consolidated Balance Sheets at September 30, 2019 and 2018 are as follows (in thousands):

Accrued liabilities	$	(50	)	$	(58	)
Noncurrent liabilities-other	(28,653		)	(11,250		)
Net amount recognized	$	(28,703	)	$	(11,308	)

Amounts Recognized in Accumulated Other Comprehensive Income (Loss) and Not Yet Reflected in Net Periodic Benefit Cost

The amounts recognized in Accumulated Other Comprehensive Income (Loss) at September 30, 2019 and 2018, and not yet reflected in net periodic benefit cost, are as follows (in thousands):

Net actuarial loss $ (37,084 ) $ (21,693 )

Weighted Average Assumptions Used for the Pension Calculations

The weighted average assumptions used for the pension calculations were as follows:

	September 30,
	2019		2018		2017
Discount rate for net periodic benefit costs	4.27	%	3.79	%	3.64	%
Discount rate for year-end obligations	3.16	%	4.27	%	3.79	%
Expected return on plan assets	5.60	%	6.06	%	6.17	%

Components of the Net Periodic Pension (Benefit)

Components of the net periodic pension expense (benefit) were as follows:

	Year Ended September 30,
(in thousands)	2019			2018			2017
Interest cost	$	4,389		$	4,077		$	4,053
Expected return on plan assets	(5,523		)	(5,555		)	(5,130		)
Recognized net actuarial loss	1,229			1,926			2,891
Settlement	1,953			913			1,640
Net pension expense	$	2,048		$	1,361		$	3,454

Expected Benefits to be Paid from the Pension Plan in Each of the Next Five Fiscal Years and Thereafter

The following table reflects the expected benefits to be paid from the Pension Plan in each of the next five fiscal years, and in the aggregate for the five years thereafter (in thousands).

Year Ended September 30,
2020		2021		2022		2023		2024		2025 – 2029		Total
$	7,958	$	6,164	$	6,698	$	6,745	$	7,121	$	32,313	$	66,999

Target Allocation and Asset Allocation for the Pension Plan

The target allocation for 2020 and the asset allocation for the Pension Plan at the end of fiscal years 2019 and 2018, by asset category, follows:

	Target Allocation		September 30,
Asset Category	2020		2019		2018
U.S. equities	45	%	47	%	52	%
International equities	20		16		15
Fixed income	35		37		33
Total	100	%	100	%	100	%

Fair Value of Pension Plan Assets

The fair value of Pension Plan assets at September 30, 2019 and 2018, summarized by level within the fair value hierarchy described in Note 13—Fair Value Measurement of Financial Instruments, are as follows:

	September 30, 2019
(in thousands)	Total		Level 1		Level 2		Level 3
Short-term investments	$	3,072	$	3,072	$	—	$	—
Mutual funds:
Domestic stock funds	17,555		17,555		—		—
Bond funds	18,034		18,034		—		—
Balanced funds	17,878		17,878		—		—
International stock funds	14,181		14,181		—		—
Total mutual funds	67,648		67,648		—		—
Domestic common stock	20,261		17,748		2,513		—
Oil and gas properties	161		—		—		161
Total	$	91,142	$	88,468	$	2,513	$	161

	September 30, 2018
(in thousands)	Total		Level 1		Level 2		Level 3
Short-term investments	$	2,745	$	2,745	$	—	$	—
Mutual funds:
Domestic stock funds	18,361		18,361		—		—
Bond funds	17,918		17,918		—		—
Balanced funds	17,977		17,977		—		—
International stock funds	14,548		14,548		—		—
Total mutual funds	68,804		68,804		—		—
Domestic common stock	23,232		20,771		2,461		—
Oil and gas properties	116		—		—		116
Total	$	94,897	$	92,320	$	2,461	$	116

Summary of Changes in the Fair Value of the Pension Plan's Level 3 Assets

The following table sets forth a summary of changes in the fair value of the Pension Plan’s Level 3 assets for the fiscal years ended September 30, 2019 and 2018:

	Oil and Gas Properties
	Year Ended September 30,
(in thousands)	2019		2018
Balance, beginning of year	$	116	$	97
Unrealized gains (losses) relating to property still held at the reporting date	45		19
Balance, end of year	$	161	$	116