Retirement Plan And Other Post-Retirement Benefits | Retirement Plan and Other Post-Retirement Benefits The Company has a tax-qualified, noncontributory, defined-benefit retirement plan (Retirement Plan). The Retirement Plan covers certain non-collectively bargained employees hired before July 1, 2003 and certain collectively bargained employees hired before November 1, 2003. Certain non-collectively bargained employees hired after June 30, 2003 and certain collectively bargained employees hired after October 31, 2003 are eligible for a Retirement Savings Account benefit provided under the Company’s defined contribution Tax-Deferred Savings Plans. Costs associated with the Retirement Savings Account were $2.9 million , $2.6 million and $2.3 million for the years ended September 30, 2017, 2016 and 2015, respectively. Costs associated with the Company’s contributions to the Tax-Deferred Savings Plans, exclusive of the costs associated with the Retirement Savings Account, were $5.9 million , $5.9 million , and $5.8 million for the years ended September 30, 2017, 2016 and 2015, respectively. The Company provides health care and life insurance benefits (other post-retirement benefits) for a majority of its retired employees. The other post-retirement benefits cover certain non-collectively bargained employees hired before January 1, 2003 and certain collectively bargained employees hired before October 31, 2003. The Company’s policy is to fund the Retirement Plan with at least an amount necessary to satisfy the minimum funding requirements of applicable laws and regulations and not more than the maximum amount deductible for federal income tax purposes. The Company has established VEBA trusts for its other post-retirement benefits. Contributions to the VEBA trusts are tax deductible, subject to limitations contained in the Internal Revenue Code and regulations and are made to fund employees’ other post-retirement benefits, as well as benefits as they are paid to current retirees. In addition, the Company has established 401(h) accounts for its other post-retirement benefits. They are separate accounts within the Retirement Plan trust used to pay retiree medical benefits for the associated participants in the Retirement Plan. Although these accounts are in the Retirement Plan trust, for funding status purposes as shown below, the 401(h) accounts are included in Fair Value of Assets under Other Post-Retirement Benefits. Contributions are tax-deductible when made, subject to limitations contained in the Internal Revenue Code and regulations. The expected return on Retirement Plan assets, a component of net periodic benefit cost shown in the tables below, is applied to the market-related value of plan assets. The market-related value of plan assets is the market value as of the measurement date adjusted for variances between actual returns and expected returns (from previous years) that have not been reflected in net periodic benefit costs. The expected return on other post-retirement benefit assets (i.e. the VEBA trusts and 401(h) accounts), which is a component of net periodic benefit cost shown in the tables below, is applied to the fair value of assets as of the measurement date. Reconciliations of the Benefit Obligations, Plan Assets and Funded Status, as well as the components of Net Periodic Benefit Cost and the Weighted Average Assumptions of the Retirement Plan and other post-retirement benefits are shown in the tables below. The date used to measure the Benefit Obligations, Plan Assets and Funded Status is September 30 for fiscal years 2017, 2016 and 2015. Retirement Plan Other Post-Retirement Benefits Year Ended September 30 Year Ended September 30 2017 2016 2015 2017 2016 2015 (Thousands) Change in Benefit Obligation Benefit Obligation at Beginning of Period $ 1,097,421 $ 1,026,190 $ 999,499 $ 526,138 $ 464,987 $ 465,583 Service Cost 11,969 11,710 12,047 2,449 2,331 2,693 Interest Cost 38,383 42,315 41,217 19,007 20,386 19,285 Plan Participants’ Contributions — — — 2,717 2,558 2,242 Retiree Drug Subsidy Receipts — — — 1,553 1,925 1,338 Amendments(1) — — 7,752 — — — Actuarial (Gain) Loss (32,466 ) 76,309 23,426 (62,215 ) 60,402 (1,575 ) Benefits Paid (60,481 ) (59,103 ) (57,751 ) (27,030 ) (26,451 ) (24,579 ) Benefit Obligation at End of Period $ 1,054,826 $ 1,097,421 $ 1,026,190 $ 462,619 $ 526,138 $ 464,987 Change in Plan Assets Fair Value of Assets at Beginning of Period $ 869,775 $ 834,870 $ 869,791 $ 494,320 $ 477,959 $ 497,601 Actual Return on Plan Assets 84,279 87,008 (13,370 ) 40,157 37,415 534 Employer Contributions 17,146 7,000 36,200 3,853 2,839 2,161 Plan Participants’ Contributions — — — 2,717 2,558 2,242 Benefits Paid (60,481 ) (59,103 ) (57,751 ) (27,030 ) (26,451 ) (24,579 ) Fair Value of Assets at End of Period $ 910,719 $ 869,775 $ 834,870 $ 514,017 $ 494,320 $ 477,959 Net Amount Recognized at End of Period (Funded Status) $ (144,107 ) $ (227,646 ) $ (191,320 ) $ 51,398 $ (31,818 ) $ 12,972 Amounts Recognized in the Balance Sheets Consist of: Non-Current Liabilities $ (144,107 ) $ (227,646 ) $ (191,320 ) $ (4,972 ) $ (49,467 ) $ (11,487 ) Non-Current Assets — — — 56,370 17,649 24,459 Net Amount Recognized at End of Period $ (144,107 ) $ (227,646 ) $ (191,320 ) $ 51,398 $ (31,818 ) $ 12,972 Accumulated Benefit Obligation $ 1,010,179 $ 1,039,408 $ 968,984 N/A N/A N/A Weighted Average Assumptions Used to Determine Benefit Obligation at September 30 Discount Rate 3.77 % 3.60 % 4.25 % 3.81 % 3.70 % 4.50 % Rate of Compensation Increase 4.70 % 4.70 % 4.75 % 4.70 % 4.70 % 4.75 % Retirement Plan Other Post-Retirement Benefits Year Ended September 30 Year Ended September 30 2017 2016 2015 2017 2016 2015 (Thousands) Components of Net Periodic Benefit Cost Service Cost $ 11,969 $ 11,710 $ 12,047 $ 2,449 $ 2,331 $ 2,693 Interest Cost 38,383 42,315 41,217 19,007 20,386 19,285 Expected Return on Plan Assets (59,718 ) (59,369 ) (59,615 ) (31,458 ) (31,535 ) (34,089 ) Amortization of Prior Service Cost (Credit) 1,058 1,234 183 (429 ) (912 ) (1,913 ) Recognition of Actuarial Loss(2) 42,687 32,248 36,129 18,415 5,530 4,148 Net Amortization and Deferral for Regulatory Purposes 469 3,957 7,739 6,108 17,123 20,322 Net Periodic Benefit Cost $ 34,848 $ 32,095 $ 37,700 $ 14,092 $ 12,923 $ 10,446 Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost at September 30 Discount Rate 3.60 % 4.25 % 4.25 % 3.70 % 4.50 % 4.25 % Expected Return on Plan Assets 7.00 % 7.25 % 7.50 % 6.50 % 6.75 % 7.00 % Rate of Compensation Increase 4.75 % 4.75 % 4.75 % 4.75 % 4.75 % 4.75 % (1) In fiscal 2015, the Company passed an amendment which updated the mortality table used in the Retirement Plan's definition of "actuarially equivalent" effective July 1, 2015. This increased the benefit obligation of the Retirement Plan. (2) Distribution Corporation’s New York jurisdiction calculates the amortization of the actuarial loss on a vintage year basis over 10 years , as mandated by the NYPSC. All the other subsidiaries of the Company utilize the corridor approach. The Net Periodic Benefit Cost in the table above includes the effects of regulation. The Company recovers pension and other post-retirement benefit costs in its Utility and Pipeline and Storage segments in accordance with the applicable regulatory commission authorizations. Certain of those commission authorizations established tracking mechanisms which allow the Company to record the difference between the amount of pension and other post-retirement benefit costs recoverable in rates and the amounts of such costs as determined under the existing authoritative guidance as either a regulatory asset or liability, as appropriate. Any activity under the tracking mechanisms (including the amortization of pension and other post-retirement regulatory assets and liabilities) is reflected in the Net Amortization and Deferral for Regulatory Purposes line item above. In addition to the Retirement Plan discussed above, the Company also has Non-Qualified benefit plans that cover a group of management employees designated by the Chief Executive Officer of the Company. These plans provide for defined benefit payments upon retirement of the management employee, or to the spouse upon death of the management employee. The net periodic benefit costs associated with these plans were $7.6 million , $7.5 million and $7.0 million in 2017, 2016 and 2015, respectively. The accumulated benefit obligations for the plans were $72.5 million , $72.4 million and $66.0 million at September 30, 2017, 2016 and 2015, respectively. The projected benefit obligations for the plans were $88.9 million , $91.7 million and $85.8 million at September 30, 2017, 2016 and 2015, respectively. At September 30, 2017, $14.1 million of the projected benefit obligation is recorded in Other Accruals and Current Liabilities and the remaining $74.8 million is recorded in Other Deferred Credits on the Consolidated Balance Sheets. At September 30, 2016, $9.8 million of the projected benefit obligation was recorded in Other Accruals and Current Liabilities and the remaining $81.9 million was recorded in Other Deferred Credits on the Consolidated Balance Sheets. At September 30, 2015, $4.5 million of the projected benefit obligation was recorded in Other Accruals and Current Liabilities and the remaining $81.3 million was recorded in Other Deferred Credits on the Consolidated Balance Sheets. The weighted average discount rates for these plans were 3.22% , 2.80% and 3.50% as of September 30, 2017, 2016 and 2015, respectively and the weighted average rates of compensation increase for these plans were 7.75% , 7.75% and 7.75% as of September 30, 2017, 2016 and 2015, respectively. The cumulative amounts recognized in accumulated other comprehensive income (loss), regulatory assets, and regulatory liabilities through fiscal 2017, the changes in such amounts during 2017, as well as the amounts expected to be recognized in net periodic benefit cost in fiscal 2018 are presented in the table below: Retirement Plan Other Post-Retirement Benefits Non-Qualified Benefit Plans (Thousands) Amounts Recognized in Accumulated Other Comprehensive Income (Loss), Regulatory Assets and Regulatory Liabilities(1) Net Actuarial Loss $ (203,887 ) $ (19,578 ) $ (24,332 ) Prior Service (Cost) Credit (6,133 ) 3,687 — Net Amount Recognized $ (210,020 ) $ (15,891 ) $ (24,332 ) Changes to Accumulated Other Comprehensive Income (Loss), Regulatory Assets and Regulatory Liabilities Recognized During Fiscal 2017(1) Decrease (Increase) in Actuarial Loss, excluding amortization(2) $ 57,028 $ 70,915 $ (1,351 ) Change due to Amortization of Actuarial Loss 42,687 18,415 4,059 Prior Service (Cost) Credit 1,058 (429 ) — Net Change $ 100,773 $ 88,901 $ 2,708 Amounts Expected to be Recognized in Net Periodic Benefit Cost in the Next Fiscal Year(1) Net Actuarial Loss $ (37,205 ) $ (10,558 ) $ (3,549 ) Prior Service (Cost) Credit (938 ) 429 — Net Amount Expected to be Recognized $ (38,143 ) $ (10,129 ) $ (3,549 ) (1) Amounts presented are shown before recognizing deferred taxes. (2) Amounts presented include the impact of actuarial gains/losses related to return on assets, as well as the Actuarial (Gain) Loss amounts presented in the Change in Benefit Obligation. In order to adjust the funded status of its pension (tax-qualified and non-qualified) and other post-retirement benefit plans at September 30, 2017, the Company recorded a $163.3 million decrease to Other Regulatory Assets in the Company’s Utility and Pipeline and Storage segments and a $29.1 million (pre-tax) increase to Accumulated Other Comprehensive Income. The effect of the discount rate change for the Retirement Plan in 2017 was to decrease the projected benefit obligation of the Retirement Plan by $20.5 million . The mortality improvement projection scale was updated, which decreased the projected benefit obligation of the Retirement Plan in 2017 by $8.3 million . In addition, other actuarial experience decreased the projected benefit obligation for the Retirement Plan in 2017 by $3.6 million . The effect of the discount rate change for the Retirement Plan in 2016 was to increase the projected benefit obligation of the Retirement Plan by $78.5 million . The effect of the mortality assumption change for the Retirement Plan in 2015 was to increase the projected benefit obligation of the Retirement Plan by $24.2 million . The Company made cash contributions totaling $17.1 million to the Retirement Plan during the year ended September 30, 2017. The Company expects that the annual contribution to the Retirement Plan in 2018 will be in the range of $15.0 million to $40.0 million . The following Retirement Plan benefit payments, which reflect expected future service, are expected to be paid by the Retirement Plan during the next five years and the five years thereafter: $64.4 million in 2018; $65.0 million in 2019; $65.4 million in 2020; $65.8 million in 2021; $66.2 million in 2022; and $331.1 million in the five years thereafter. The effect of the discount rate change in 2017 was to decrease the other post-retirement benefit obligation by $6.2 million . The mortality improvement projection scale was updated, which decreased the other post-retirement benefit obligation in 2017 by $5.7 million . Other actuarial experience decreased the other post-retirement benefit obligation in 2017 by $50.3 million primarily attributable to a revision in assumed per-capita claims cost, premiums, retiree contributions and retiree drug subsidy assumptions based on actual experience. The effect of the discount rate change in 2016 was to increase the other post-retirement benefit obligation by $49.4 million . Other actuarial experience increased the other post-retirement benefit obligation in 2016 by $11.0 million primarily attributable to a revision in assumed per-capita claims cost, premiums, participant contributions and drug subsidy assumptions based on actual experience. The effect of the discount rate change in 2015 was to decrease the other post-retirement benefit obligation by $14.3 million . Other actuarial experience increased the other post-retirement benefit obligation in 2015 by $12.8 million primarily attributable to the change in mortality assumption. The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 provides for a prescription drug benefit under Medicare (Medicare Part D), as well as a federal subsidy to sponsors of retiree health care benefit plans that provide a benefit that is at least actuarially equivalent to Medicare Part D. The estimated gross other post-retirement benefit payments and gross amount of Medicare Part D prescription drug subsidy receipts are as follows (dollars in thousands): Benefit Payments Subsidy Receipts 2018 $ 26,483 $ (1,910 ) 2019 $ 27,456 $ (2,074 ) 2020 $ 28,359 $ (2,225 ) 2021 $ 29,173 $ (2,369 ) 2022 $ 29,757 $ (2,515 ) 2023 through 2027 $ 152,957 $ (14,271 ) Assumed health care cost trend rates as of September 30 were: 2017 2016 2015 Rate of Medical Cost Increase for Pre Age 65 Participants 5.67 % (1) 5.75 % (1) 6.93 % (2) Rate of Medical Cost Increase for Post Age 65 Participants 4.75 % (1) 4.75 % (1) 6.68 % (2) Annual Rate of Increase in the Per Capita Cost of Covered Prescription Drug Benefits 8.45 % (1) 9.00 % (1) 7.17 % (2) Annual Rate of Increase in the Per Capita Medicare Part B Reimbursement 4.75 % (1) 4.75 % (1) 6.68 % (2) Annual Rate of Increase in the Per Capita Medicare Part D Subsidy 7.33 % (1) 7.20 % (1) 6.65 % (2) (1) It was assumed that this rate would gradually decline to 4.5% by 2039. (2) It was assumed that this rate would gradually decline to 4.5% by 2028. The health care cost trend rate assumptions used to calculate the per capita cost of covered medical care benefits have a significant effect on the amounts reported. If the health care cost trend rates were increased by 1% in each year, the other post-retirement benefit obligation as of October 1, 2017 would increase by $57.9 million . This 1% change would also have increased the aggregate of the service and interest cost components of net periodic post-retirement benefit cost for 2017 by $3.3 million . If the health care cost trend rates were decreased by 1% in each year, the other post-retirement benefit obligation as of October 1, 2017 would decrease by $48.5 million . This 1% change would also have decreased the aggregate of the service and interest cost components of net periodic post-retirement benefit cost for 2017 by $2.7 million . The Company made cash contributions totaling $3.8 million to its VEBA trusts during the year ended September 30, 2017. In addition, the Company made direct payments of $0.1 million to retirees not covered by the VEBA trusts and 401(h) accounts during the year ended September 30, 2017. The Company expects that the annual contribution to its VEBA trusts in 2018 will be in the range of $2.5 million to $4.0 million . Investment Valuation The Retirement Plan assets and other post-retirement benefit assets are valued under the current fair value framework. See Note F — Fair Value Measurements for further discussion regarding the definition and levels of fair value hierarchy established by the authoritative guidance. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Below is a listing of the major categories of plan assets held as of September 30, 2017 and 2016, as well as the associated level within the fair value hierarchy in which the fair value measurements in their entirety fall, based on the lowest level input that is significant to the fair value measurement in its entirety (dollars in thousands): Total Fair Value Amounts at September 30, 2017 Level 1 Level 2 Level 3 Measured at NAV(7) Retirement Plan Investments Domestic Equities(1) $ 290,716 $ 209,421 $ — $ — $ 81,295 International Equities(2) 123,069 — — — 123,069 Global Equities(3) 121,008 — — — 121,008 Domestic Fixed Income(4) 348,501 1,664 346,837 — — International Fixed Income(5) 422 422 — — — Global Fixed Income(6) 75,428 — — — 75,428 Real Estate 3,391 — — 3,391 — Cash Held in Collective Trust Funds 26,058 — — — 26,058 Total Retirement Plan Investments 988,593 211,507 346,837 3,391 426,858 401(h) Investments (64,728 ) (14,026 ) (23,001 ) (225 ) (27,476 ) Total Retirement Plan Investments (excluding 401(h) Investments) $ 923,865 $ 197,481 $ 323,836 $ 3,166 $ 399,382 Miscellaneous Accruals, Interest Receivables, and Non-Interest Cash (13,146 ) Total Retirement Plan Assets $ 910,719 Total Fair Value Level 1 Level 2 Level 3 Measured at NAV(7) Retirement Plan Investments Domestic Equities(1) $ 256,796 $ 188,253 $ — $ — $ 68,543 International Equities(2) 104,592 — — — 104,592 Global Equities(3) 120,025 — — — 120,025 Domestic Fixed Income(4) 342,442 1,647 340,795 — — International Fixed Income(5) 744 407 337 — — Global Fixed Income(6) 81,146 — — — 81,146 Real Estate 2,970 — — 2,970 — Cash Held in Collective Trust Funds 24,812 — — — 24,812 Total Retirement Plan Investments 933,527 190,307 341,132 2,970 399,118 401(h) Investments (58,707 ) (12,025 ) (21,555 ) (188 ) (24,939 ) Total Retirement Plan Investments (excluding 401(h) Investments) $ 874,820 $ 178,282 $ 319,577 $ 2,782 $ 374,179 Miscellaneous Accruals, Interest Receivables, and Non-Interest Cash (5,045 ) Total Retirement Plan Assets $ 869,775 (1) Domestic Equities include mostly collective trust funds, common stock, and exchange traded funds. (2) International Equities are comprised of collective trust funds. (3) Global Equities are comprised of collective trust funds. (4) Domestic Fixed Income securities include mostly collective trust funds, corporate/government bonds and mortgages, and exchange traded funds. (5) International Fixed Income securities are comprised mostly of an exchange traded fund. (6) Global Fixed Income securities are comprised of a collective trust fund. (7) Reflects the adoption of the new authoritative guidance related to investments measured at the net asset value (NAV) practical expedient. Total Fair Value Level 1 Level 2 Level 3 Measured at NAV(1) Other Post-Retirement Benefit Assets held in VEBA Trusts Collective Trust Funds — Domestic Equities $ 130,864 $ — $ — $ — $ 130,864 Collective Trust Funds — International Equities 52,063 — — — 52,063 Exchange Traded Funds — Fixed Income 256,099 256,099 — — — Cash Held in Collective Trust Funds 9,569 — — — 9,569 Total VEBA Trust Investments 448,595 256,099 — — 192,496 401(h) Investments 64,728 14,026 23,001 225 27,476 Total Investments (including 401(h) Investments) $ 513,323 $ 270,125 $ 23,001 $ 225 $ 219,972 Miscellaneous Accruals (Including Current and Deferred Taxes, Claims Incurred But Not Reported, Administrative) 694 Total Other Post-Retirement Benefit Assets $ 514,017 Total Fair Value Level 1 Level 2 Level 3 Measured at NAV(1) Other Post-Retirement Benefit Assets held in VEBA Trusts Collective Trust Funds — Domestic Equities $ 139,617 $ — $ — $ — $ 139,617 Collective Trust Funds — International Equities 51,488 — — — 51,488 Exchange Traded Funds — Fixed Income 230,761 230,761 — — — Cash Held in Collective Trust Funds 13,176 — — — 13,176 Total VEBA Trust Investments 435,042 230,761 — — 204,281 401(h) Investments 58,707 12,025 21,555 188 24,939 Total Investments (including 401(h) Investments) $ 493,749 $ 242,786 $ 21,555 $ 188 $ 229,220 Miscellaneous Accruals (Including Current and Deferred Taxes, Claims Incurred But Not Reported, Administrative) 571 Total Other Post-Retirement Benefit Assets $ 494,320 (1) Reflects the adoption of the new authoritative guidance related to investments measured at the net asset value (NAV) practical expedient. The fair values disclosed in the above tables may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. The following tables provide a reconciliation of the beginning and ending balances of the Retirement Plan and other post-retirement benefit assets measured at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3). For the years ended September 30, 2017 and September 30, 2016, there were no transfers from Level 1 to Level 2. In addition, as shown in the following tables, there were no transfers in or out of Level 3. Retirement Plan Level 3 Assets (Thousands) Hedge Funds Real Estate Excluding 401(h) Investments Total Balance at September 30, 2015 $ 26,490 $ 4,724 $ (1,885 ) $ 29,329 Realized Gains/(Losses) 5,878 — (354 ) 5,524 Unrealized Gains/(Losses) (5,445 ) (404 ) 344 (5,505 ) Sales (26,923 ) (1,350 ) 1,707 (26,566 ) Balance at September 30, 2016 — 2,970 (188 ) 2,782 Unrealized Gains/(Losses) — 421 (37 ) 384 Balance at September 30, 2017 $ — $ 3,391 $ (225 ) $ 3,166 Other Post-Retirement Benefit Level 3 Assets (Thousands) 401(h) Investments Balance at September 30, 2015 $ 1,885 Realized Gains/(Losses) 354 Unrealized Gains/(Losses) (344 ) Sales (1,707 ) Balance at September 30, 2016 188 Unrealized Gains/(Losses) 37 Balance at September 30, 2017 $ 225 The Company’s assumption regarding the expected long-term rate of return on plan assets is 7.00% (Retirement Plan) and 6.25% (other post-retirement benefits), effective for fiscal 2018. The return assumption reflects the anticipated long-term rate of return on the plan’s current and future assets. The Company utilizes projected capital market conditions and the plan’s target asset class and investment manager allocations to set the assumption regarding the expected return on plan assets. The long-term investment objective of the Retirement Plan trust, the VEBA trusts and the 401(h) accounts is to achieve the target total return in accordance with the Company’s risk tolerance. Assets are diversified utilizing a mix of equities, fixed income and other securities (including real estate). The target allocation for the Retirement Plan and the VEBA trusts (including 401(h) accounts) is 40 - 60% equity securities, 40 - 60% fixed income securities and 0 - 15% other. Risk tolerance is established through consideration of plan liabilities, plan funded status and corporate financial condition. The assets of the Retirement Plan trusts, VEBA trusts and the 401(h) accounts have no significant concentrations of risk in any one country (other than the United States), industry or entity. Investment managers are retained to manage separate pools of assets. Comparative market and peer group performance of individual managers and the total fund are monitored on a regular basis, and reviewed by the Company’s Retirement Committee on at least a quarterly basis. Beginning in fiscal 2018, the Company refined the method used to determine the service and interest cost components of net periodic benefit cost. Using the refined method, known as the spot rate approach, the Company will use individual spot rates along the yield curve that correspond to the timing of each benefit payment to determine the discount rate. The individual spot rates along the yield curve will continue to be determined by an above mean methodology in that the coupon interest rates that are in the lower 50th percentile will be excluded based on the assumption that the Company would not utilize more expensive (i.e. lower yield) instruments to settle its liabilities. The impact on the benefit obligation, as of September 30, 2017, is immaterial. This change will provide a more precise measurement of service and interest costs by improving the correlation between projected cash outflows and corresponding spot rates on the yield curve. Compared to the previous method, the spot rate approach will decrease the service and interest components of net periodic benefit costs in fiscal 2018. The Company will account for this change prospectively as a change in accounting estimate. |