Retirement Benefit Plans

12 Months Ended

Sep. 30, 2011

Retirement Benefit Plans [Abstract]

Retirement Benefit Plans

9. Retirement Benefit Plans

The Company and certain of its subsidiaries sponsor defined benefit pension plans covering most of its employees. The Company's funding policy for its defined benefit pension plans is based on an actuarially determined cost method allowable under Internal Revenue Service regulations. One of the Company's defined benefit pension plans covers substantially all non-union employees of the Company's U.S. operations who were hired prior to March 1, 2003, was frozen in 2003. Consequently, although the plan otherwise continues, the plan ceased the accrual of additional pension benefits for service subsequent to March 1, 2003.

The Company uses a September 30 measurement date for its U.S. defined benefit pension plans. Net pension expense, benefit obligations and plan assets for the Company-sponsored defined benefit pension plans consists of the following:

	Years Ended September 30,
	2011			2010
Service cost	$	273		$	302
Interest cost		1,059			1,050
Expected return on plan assets		(1,454	)		(1,411	)
Amortization of prior service cost		117			142
Amortization of net loss		682			537
Early retirement expense		61			0
Net pension expense (income) for defined benefit plan	$	738		$	620

The status of all defined benefit pension plans at September 30 is as follows:

	2011			2010
Benefit obligations:
Benefit obligations at beginning of year	$	21,889		$	19,600
Service cost		273			302
Interest cost		1,059			1,050
Amendments		0			0
Actuarial loss		1,821			1,486
Benefits paid		(1,073	)		(549	)
Early retirement expense		61			0
Benefit obligations at end of year	$	24,030		$	21,889
Plan assets:
Plan assets at beginning of year	$	16,653		$	15,388
Actual return on plan assets		364			1,484
Employer contributions		698			330
Benefits paid		(1,073	)		(549	)
Plan assets at end of year	$	16,642		$	16,653

	Plans in which Assets Exceed Benefit Obligations at				Plans in which Benefit Obligations Exceed Assets at
	September 30,				September 30,
	2011		2010		2011			2010
Reconciliation of funded status:
Plan assets in excess of (less than) projected benefit obligations	$	772	$	910	$	(8,160	)	$	(6,146	)
Amounts recognized in accumulated other comprehensive loss:
Net loss		562		344		10,449			8,437
Prior service cost		39		132		39			63
Net amount recognized in the consolidated balance sheets	$	1,373	$	1,386	$	2,328		$	2,354
Amounts recognized in the consolidated balance sheets are:
Other assets	$	772	$	910	$	0		$	0
Other long-term liabilities		0		0		(8,160	)		(6,146	)
Accumulated other comprehensive loss – pretax		601		476		10,488			8,500
Net amount recognized in the consolidated balance sheets	$	1,373	$	1,386	$	2,328		$	2,354

The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit costs during fiscal 2012 are as follows:

	Plans in which Assets Exceed Benefit Obligations		Plans in which Benefit Obligations Exceed Assets
Net loss	$	0	$	840
Prior service cost		39		8
Total	$	39	$	848

Where applicable, the following weighted-average assumptions were used in developing the benefit obligation and the net pension expense for defined benefit pension plans:

	Years Ended
	September 30,
	2011			2010
Discount rate for liabilities		4.2	%		4.9	%
Discount rate for expenses		5.0	%		5.5	%
Expected return on assets		8.3	%		8.5	%

The Company classifies and discloses pension plan assets in one of the following three categories: (i) Level 1 - quoted market prices in active markets for identical assets; (ii) Level 2 - observable market based inputs or unobservable inputs that are corroborated by market data or (iii) Level 3 - unobservable inputs that are not corroborated by market data. Level 1 and Level 2 assets are valued using market based inputs. Level 3 asset values are determined by the trustees using a discounted cash flow model. The following tables set forth the asset allocation of the Company's defined benefit pension plan assets and summarizes the fair values and levels within the fair value hierarchy for such plan assets as of September 30, 2011 and 2010:

September 30, 2011	Asset Amount		Level 1		Level 2		Level 3
U.S. equity securities:
Large value	$	204	$	0	$	204	$	0
Large blend		6,945		0		6,945		0
Large growth		832		0		832		0
Mid blend		43		0		43		0
Small blend		34		0		34		0
Non-U.S equity securities:
Foreign large blend		1,048		0		1,048		0
Diversified emerging markets		109		0		109		0
U.S. debt securities:
Inflation protected bond		489		0		489		0
Intermediate term bond		6,176		0		4,083		2,093
High inflation bond		328		0		328		0
Non-U.S. debt securities:
Emerging markets bonds		257		0		257		0
Stable value:
Short-term bonds		177		177		0		0
Total plan assets at fair value	$	16,642	$	177	$	14,372	$	2,093

September 30, 2010	Asset Amount		Level 1		Level 2		Level 3
U.S. equity securities:
Large value	$	340	$	0	$	340	$	0
Large blend		7,339		0		7,339		0
Large growth		778		0		778		0
Mid blend		43		0		43		0
Small blend		43		0		43		0
Non-U.S. equity securities:
Foreign large blend		1,133		0		1,133		0
Diversified emerging markets		117		0		117		0
U.S. debt securities:
Inflation protected bond		499		0		499		0
Intermediate term bond		5,891		0		3,980		1,911
High inflation bond		223		0		223		0
Non-U.S. debt securities:
Emerging markets bonds		176		0		176		0
Stable value:
Short-term bonds		71		71		0		0
Total plan assets at fair value	$	16,653	$	71	$	14,671	$	1,911

Changes in the fair value of the Company's Level 3 investments during the years ending September 30, 2011 and 2010 were as follows:

	2011		2010
Balance at beginning of year	$	1,911	$	1,654
Actual return on plan assets		144		247
Purchases and sales of plan assets, net		38		10
Balance at end of year	$	2,093	$	1,911

Investment objectives relative to the assets of the Company's defined benefit pension plans are to (i) optimize the long-term return on the plans' assets while assuming an acceptable level of investment risk, (ii) maintain an appropriate diversification across asset categories and among investment managers, and (iii) maintain a careful monitoring of the risk level within each asset category. Asset allocation objectives are established to promote optimal expected returns and volatility characteristics given the long-term time horizon for fulfilling the obligations of the Company's defined benefit pension plans. Selection of the appropriate asset allocation for the plans' assets was based upon a review of the expected return and risk characteristics of each asset category in relation to the anticipated timing of future plan benefit payment obligations. The Company has a long-term objective for the allocation of plan assets. However, the Company realizes that actual allocations at any point in time will likely vary from this objective due principally to (i) the impact of market conditions on plan asset values and (ii) required cash contributions to and distribution from the plans. The "Asset Allocation Range" anticipates these potential scenarios and provides flexibility for the Plan's investments to vary around the objective without triggering a reallocation of the assets, as noted by the following:

	Percent of Plan Assets at September 30,						Asset Allocation Range
	2011			2010
U.S. equities		48	%		51	%	30% to 70%
Non-U.S. equities		7	%		8	%	0% to 20%
U.S. debt securities		42	%		40	%	20% to 70%
Non-U.S. debt securities		2	%		1	%	0% to 10%
Other securities		1	%		<1	%	0% to 60%
Total		100	%		100	%

External consultants assist the Company with monitoring the appropriateness of the above investment strategy and the related asset mix and performance. To develop the expected long-term rate of return assumptions on plan assets, generally the Company uses long-term historical information for the target asset mix selected. Adjustments are made to the expected long-term rate of return assumptions when deemed necessary based upon revised expectations of future investment performance of the overall investments markets.

The Company expects to make contributions of approximately $1,007 to its defined benefit pension plans during fiscal 2012. The Company has carryover balances from previous periods that may be available for use as a credit to reduce the amount of contributions that the Company is required to make to certain of its defined benefit pension plans in fiscal 2012. The Company's ability to elect to use such carryover balances will be determined based on the actual funded status of each defined benefit pension plan relative to the plan's minimum regulatory funding requirements. The following defined benefit payment amounts are expected to be made in the future:

Years Ending September 30,	Projected Benefit Payments
2012	$	1,496
2013		2,176
2014		1,223
2015		1,313
2016		1,323
2017-2021		8,935

The Company also contributes to two (2) U.S. multi-employer retirement plans for certain union employees. The Company's contributions to the plans in 2011 and 2010 were $204 and $44, respectively.

Substantially all non-union U.S. employees of the Company and its U.S. subsidiaries are eligible to participate in the Company's U.S. defined contribution plan. The Company makes non-discretionary, regular matching contributions to this plan equal to an amount that represents one hundred percent (100%) of a participant's deferral contribution up to one percent (1%) of eligible compensation plus eighty percent (80%) of a participant's deferral contribution between one percent (1%) and six percent (6%) of eligible compensation. The Company's regular matching contribution expense for its U.S. defined contribution plan in 2011 and 2010 was $343 and $304, respectively. This defined contribution plan provides that the Company may also make an additional discretionary matching contribution during those periods in which the Company achieves certain performance levels. The Company's additional discretionary matching contribution expense in 2011 and 2010 was $185 and $171, respectively.

The Company's United Kingdom subsidiary sponsors a defined contribution plan for certain of its employees. The Company contributes annually 5% of eligible employees' compensation, as defined. Total contribution expense in 2011 and 2010 was $20 and $26, respectively.

The Company's Swedish subsidiary sponsors defined contribution plans for its employees. The Company contributes annually a percentage of eligible employees' compensation, as defined. Total contribution expense in both 2011 and 2010 was $6.