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Retirement and Other Benefit Plans (Tables)
12 Months Ended
Sep. 30, 2017
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
 
2017
 
2016
 
Net benefit obligation at beginning of year
 
$
100.6
 
 
93.6
 
Interest cost
 
 
3.2
 
 
3.9
 
Actuarial (gain) loss
 
 
(4.1)
 
 
11.1
 
Gross benefits paid
 
 
(4.4)
 
 
(7.8)
 
Settlements
 
 
 
 
(0.2)
 
Net benefit obligation at end of year
 
$
95.3
 
 
100.6
 
Schedule Of Reconciliation Of Fair Value Of Plan Assets
(Dollars in millions)
 
 
 
 
 
Reconciliation of fair value of plan assets
 
2017
 
2016
 
Fair value of plan assets at beginning of year
 
$
60.6
 
 
63.0
 
Actual return on plan assets
 
 
5.9
 
 
5.1
 
Employer contributions
 
 
2.9
 
 
0.5
 
Gross benefits paid
 
 
(4.4)
 
 
(7.8)
 
Settlements
 
 
 
 
(0.2)
 
Fair value of plan assets at end of year
 
$
65.0
 
 
60.6
 
Schedule Of Funded Status
(Dollars in millions)
 
 
 
 
 
Funded Status
 
2017
 
2016
 
Funded status at end of year
 
$
(30.3)
 
 
(40.0)
 
Accrued benefit cost
 
 
(30.3)
 
 
(40.0)
 
 
 
 
 
 
 
 
 
Amounts recognized in the Balance Sheet consist of:
 
 
 
 
 
 
 
Current liability
 
 
(0.2)
 
 
(0.2)
 
Noncurrent liability
 
 
(30.1)
 
 
(39.8)
 
Accumulated other comprehensive (income)/loss (before tax effect)
 
 
47.4
 
 
56.0
 
 
 
 
 
 
 
 
 
Amounts recognized in accumulated other comprehensive (income)/loss consist of:
 
 
 
 
 
 
 
Net actuarial loss
 
 
47.4
 
 
56.0
 
 
 
 
 
 
 
 
 
Accumulated other comprehensive (income)/loss (before tax effect)
 
$
47.4
 
 
56.0
 
Schedule Of Components Of Net Periodic Benefit Cost For Plans
The following table provides the components of net periodic benefit cost for the plans for 2017, 2016 and 2015:
 
(Dollars in millions)
 
2017
 
2016
 
2015
 
Service cost
 
$
 
 
 
 
 
Interest cost
 
 
3.2
 
 
3.9
 
 
3.8
 
Expected return on plan assets
 
 
(3.9)
 
 
(4.4)
 
 
(4.5)
 
Net actuarial loss
 
 
2.6
 
 
2.0
 
 
1.8
 
Net periodic benefit cost
 
 
1.9
 
 
1.5
 
 
1.1
 
Defined contribution plans
 
 
6.3
 
 
5.2
 
 
5.0
 
Total
 
$
8.2
 
 
6.7
 
 
6.1
 
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 2017 and 2016, and the Company’s acceptable range and the target allocation for 2018, by asset category, are as follows:
 
 
 
Target
 
 
 
 
Percentage of Plan Assets at
 
 
 
Allocation
 
Acceptable
 
Year-end
 
Asset Category
 
2018
 
Range
 
2017
 
2016
 
Return seeking
 
 
60
%
 
55-65
%
 
62
%
 
59
%
Liability hedging
 
 
40
%
 
35-45
%
 
35
%
 
38
%
Cash/cash equivalents
 
 
 
 
0-5
%
 
3
%
 
3
%
Schedule Of Fair Value Of Financial Measurements
The fair values of the Company’s defined benefit plan investments as of September 30, 2017 and 2016, by asset category, were as follows:
 
(Dollars in millions)
 
2017
 
2016
 
Investments at fair value:
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
1.9
 
 
1.6
 
Common and preferred stock funds:
 
 
 
 
 
 
 
Domestic large capitalization
 
 
10.6
 
 
8.9
 
Domestic small-/mid-capitalization
 
 
3.3
 
 
2.7
 
International funds
 
 
14.3
 
 
12.3
 
Fixed income funds
 
 
30.7
 
 
30.6
 
Real estate investment funds
 
 
4.2
 
 
4.5
 
Total investments at fair value
 
$
65.0
 
 
60.6
 
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 — 2018
 
$
3.0
 
 
0.1
 
Expected Benefit Payments:
 
 
 
 
 
 
 
2018
 
 
4.9
 
 
0.1
 
2019
 
 
5.1
 
 
0.1
 
2020
 
 
5.7
 
 
0.1
 
2021
 
 
5.4
 
 
0.1
 
2022
 
 
5.6
 
 
0.1
 
2023-2027
 
$
29.5
 
 
0.3
 
Net Periodic Benefit Cost [Member]  
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:
 
 
 
2017
 
2016
 
Discount rate
 
 
3.65
%
 
3.25
%
Rate of increase in compensation levels
 
 
N/A
 
 
N/A
 
Net Periodic Benefit Obligations [Member]  
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:
 
 
 
2017
 
2016
 
2015
 
Discount rate
 
 
3.25
%
 
4.25
%
 
4.25
%
Rate of increase in compensation levels
 
 
N/A
 
 
N/A
 
 
N/A
 
Expected long-term rate of return on assets
 
 
3.25
%
 
6.75
%
 
6.75
%