XML 16 R35.htm IDEA: XBRL DOCUMENT v3.19.3
Retirement and Other Benefit Plans (Tables)
12 Months Ended
Sep. 30, 2019
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule Of Reconciliation Of Benefit Obligation

(Dollars in millions)

    

Reconciliation of benefit obligation

    

2019

    

2018

Net benefit obligation at beginning of year

$

89.8

 

95.3

Interest cost

 

3.7

 

3.4

Actuarial loss (gain)

 

11.3

 

(4.3)

Gross benefits paid

 

(4.7)

 

(4.6)

Settlements

 

 

Net benefit obligation at end of year

$

100.1

 

89.8

Schedule Of Reconciliation Of Fair Value Of Plan Assets

(Dollars in millions)

    

    

    

    

Reconciliation of fair value of plan assets

2019

2018

Fair value of plan assets at beginning of year

$

73.3

 

65.0

Actual return on plan assets

 

5.9

 

2.7

Employer contributions

 

2.7

 

10.2

Gross benefits paid

 

(4.7)

 

(4.6)

Settlements

 

 

Fair value of plan assets at end of year

$

77.2

 

73.3

Schedule Of Funded Status

(Dollars in millions)

    

    

    

    

Funded Status

2019

2018

Funded status at end of year

$

(22.9)

 

(16.5)

Accrued benefit cost

 

(22.9)

 

(16.5)

Amounts recognized in the Balance Sheet consist of:

 

 

  

Current liability

 

(0.2)

 

(0.2)

Noncurrent liability

 

(22.7)

 

(16.3)

Accumulated other comprehensive (income)/loss (before tax effect)

 

49.6

 

41.9

Amounts recognized in accumulated other comprehensive (income)/loss consist of:

 

 

  

Net actuarial loss

 

49.6

 

41.9

Accumulated other comprehensive (income)/loss (before tax effect)

$

49.6

 

41.9

Schedule of components of net periodic benefit cost

The following table provides the components of net periodic benefit cost for the plans for 2019, 2018 and 2017:

(Dollars in millions)

    

2019

    

2018

    

2017

Service cost

$

 

 

Interest cost

 

3.7

 

3.4

 

3.2

Expected return on plan assets

 

(4.4)

 

(3.8)

 

(3.9)

Net actuarial loss

 

2.1

 

2.3

 

2.6

Net periodic benefit cost

 

1.4

 

1.9

 

1.9

Defined contribution plans

 

7.3

 

7.1

 

6.3

Total

$

8.7

 

9.0

 

8.2

Schedule Of Asset Allocation For Pension Plans Acceptable Range And Target Allocation By Asset Category

The asset allocation for the Company’s pension plans at the end of 2019 and 2018, and the Company’s acceptable range and the target allocation for 2020, by asset category, are as follows:

    

Target

    

    

Percentage of Plan Assets at

 

Allocation

Acceptable

Year-end

 

Asset Category

2020

Range

2019

2018

 

Return seeking

 

53

%  

48%-58

%  

41

%  

44

%

Liability hedging

 

47

%  

42%-52

%  

56

%  

54

%

Cash/cash equivalents

 

0

%  

0%-10

%  

3

%  

2

%

Schedule Of Fair Value Of Financial Measurements

The fair values of the Company’s defined benefit plan investments as of September 30, 2019 and 2018, by asset category, were as follows:

(Dollars in millions)

    

2019

    

2018

Investments at fair value:

 

  

 

  

Cash and cash equivalents

$

2.1

 

2.1

Common and preferred stock funds:

 

  

 

  

Domestic large capitalization

 

8.8

 

8.7

Domestic small-/mid-capitalization

 

2.4

 

2.7

International funds

 

10.6

 

10.8

Fixed income funds

 

49.7

 

45.6

Real estate investment funds

 

3.6

 

3.4

Total investments at fair value

$

77.2

 

73.3

Schedule Of Expected Benefit Payments

Information about the expected cash flows for the pension and other postretirement benefit plans follows:

    

Pension

    

Other

(Dollars in millions)

Benefits

Benefits

Expected Employer Contributions — 2020

$

0.7

 

0.1

Expected Benefit Payments:

 

  

 

  

2020

 

5.8

 

0.1

2021

 

5.5

 

0.1

2022

 

5.7

 

0.1

2023

 

5.8

 

0.1

2024

5.9

0.1

2025‑2029

$

30.2

 

0.2

Net Periodic Benefit Cost  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule Of Weighted-Average Assumptions Used To Determine The Net Periodic Benefit Cost For Pension Plans

The following weighted-average assumptions were used to determine the net periodic benefit cost for the pension plans:

    

2019

    

2018

    

2017

 

Discount rate

 

4.15

%  

3.65

%  

3.25

%

Rate of increase in compensation levels

 

N/A

 

N/A

 

N/A

Expected long-term rate of return on assets

 

6.00

%  

6.00

%  

6.25

%

Net Periodic Benefit Obligations  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule Of Weighted-Average Assumptions Used To Determine The Net Periodic Benefit Cost For Pension Plans

The following weighted-average assumptions were used to determine the net periodic benefit obligations for the pension plans:

    

2019

    

2018

 

Discount rate

 

3.05

%  

4.15

%

Rate of increase in compensation levels

 

N/A

 

N/A