DEFINED BENEFIT PENSION EXPENSE

3 Months Ended

Dec. 31, 2017

Retirement Benefits [Abstract]

DEFINED BENEFIT PENSION EXPENSE

Defined benefit pension expense (income) was as follows:

	Three Months Ended December 31,
	2017			2016
Interest cost	$	1,407		$	1,402
Expected return on plan assets	(2,684		)	(2,736		)
Amortization:
Prior service cost	4			4
Recognized actuarial loss	525			832
Pension settlement	13,715			—
Net periodic expense (income)	$	12,967		$	(498	)

As a result of the recent passing of our Chairman of the Board, who participated in a Supplemental Executive Retirement Plan relating to his tenure as Chief Executive Officer (a position from which he retired in 2008), the pension benefit liability was reduced by $13,715 at December 31, 2017, with the offset, net of tax, recorded in Other Comprehensive Income.