Shareholders' Equity

3 Months Ended

Dec. 31, 2014

SHAREHOLDERS' EQUITY

Shareholders' Equity

5.Shareholders’ Equity

The Company has authorization from the Board of Directors for the repurchase of up to four million shares per calendar year.  The repurchases may be made using our cash and cash equivalents or other available sources.  During the three months ended December 31, 2014, we purchased 810,097 common shares at an aggregate cost of $59.7 million, which are held as treasury shares.  We had no purchases of common shares in fiscal 2014.

Components of accumulated other comprehensive income (loss) were as follows:

	December 31,			September 30,
	2014			2014
	(in thousands)
Pre-tax amounts:
Unrealized appreciation on securities	$	88,947		$	157,838
Unrecognized actuarial loss	(23,096		)	(23,405		)
	$	65,851		$	134,433
After-tax amounts:
Unrealized appreciation on securities	$	55,174		$	97,418
Unrecognized actuarial loss	(14,096		)	(14,292		)
	$	41,078		$	83,126

The following is a summary of the changes in accumulated other comprehensive income (loss), net of tax, by component for the three months ended December 31, 2014:

	Three Months Ended December 31, 2014
	Unrealized
	Appreciation (Depreciation) on			Defined
	Available-for-sale			Benefit
	Securities			Pension Plan			Total
	(in thousands)
Balances at September 30, 2014	$	97,418		$	(14,292	)	$	83,126
Other comprehensive loss before reclassifications	(42,244		)	—			(42,244		)
Amounts reclassified from accumulated other comprehensive income (loss)				196			196
Net current-period other comprehensive income (loss)	(42,244		)	196			(42,048		)
Balances at December 31, 2014	$	55,174		$	(14,096	)	$	41,078

The following provides detail about accumulated other comprehensive income (loss) components which were reclassified to the Condensed Consolidated Statement of Income during the three months ended December 31, 2014:

Details About Accumulated Other	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)			Affected Line Item in the
Comprehensive Income	Three Months Ended			Condensed Consolidated
(Loss) Components	December 31, 2014			Statement of Income
	(in thousands)
Defined Benefit Pension Items
Amortization of net actuarial loss	$	309		General and administrative
	(113		)	Income tax provision
Total reclassifications for the period	$	196		Net of tax