Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Sep. 30, 2018	Nov. 12, 2018	Mar. 30, 2018
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Entity Registrant Name	ESCO TECHNOLOGIES INC
Entity Central Index Key	0000866706
Current Fiscal Year End Date	--09-30
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 1,481,211,000
Trading Symbol	ESE
Entity Common Stock, Shares Outstanding		25,910,828
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Net sales	$ 771,582	$ 685,740	$ 571,459
Costs and expenses:
Cost of sales	490,397	436,918	350,807
Selling, general and administrative expenses	162,431	148,433	131,493
Amortization of intangible assets	18,328	16,338	11,630
Interest expense, net	8,748	4,578	1,308
Other expenses (income), net	3,655	(680)	7,801
Total costs and expenses	683,559	605,587	503,039
Earnings before income tax	88,023	80,153	68,420
Income tax (benefit) expense	(4,113)	26,450	22,538
Net earnings	$ 92,136	$ 53,703	$ 45,882
Basic:
Net earnings	$ 3.56	$ 2.08	$ 1.78
Diluted:
Net earnings	$ 3.54	$ 2.07	$ 1.77
Average common shares outstanding (in thousands):
Basic	25,874	25,774	25,762
Diluted	26,058	25,995	25,968

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Net earnings	$ 92,136	$ 53,703	$ 45,882
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	(2,254)	6,383	(1,462)
Amortization of prior service costs and actuarial (losses) gains	(2,003)	5,573	(5,250)
Net unrealized gain (loss) on derivative instruments	37	19	(33)
Total other comprehensive (loss) income, net of tax	(4,220)	11,975	(6,745)
Comprehensive income	$ 87,916	$ 65,678	$ 39,137

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017
Current assets:
Cash and cash equivalents	$ 30,477	$ 45,516
Accounts receivable, less allowance for doubtful accounts of $1,683 and $2,030 in 2018 and 2017, respectively	163,740	160,580
Costs and estimated earnings on long-term contracts, less progress billings of $27,636 and $64,099 in 2018 and 2017, respectively	53,034	47,286
Inventories, net	135,416	124,515
Other current assets	13,356	14,895
Total current assets	396,023	392,792
Property, plant and equipment:
Land and land improvements	9,944	9,964
Buildings and leasehold improvements	92,418	88,469
Machinery and equipment	141,711	129,366
Construction in progress	6,609	4,599
Property, Plant and Equipment, Gross	250,682	232,398
Less accumulated depreciation and amortization	(115,728)	(99,650)
Net property, plant and equipment	134,954	132,748
Intangible assets, net	345,353	351,134
Goodwill	381,652	377,879
Other assets	7,140	5,891
Total Assets	1,265,122	1,260,444
Current liabilities:
Current maturities of long-term debt	20,000	20,000
Accounts payable	63,033	54,789
Advance payments on long-term contracts, less costs incurred of $26,693 and $59,772 in 2018 and 2017, respectively	19,467	22,451
Accrued salaries	29,379	32,259
Current portion of deferred revenue	29,568	28,583
Accrued other expenses	39,083	36,887
Total current liabilities	200,530	194,969
Pension obligations	16,286	30,223
Deferred tax liabilities	64,794	86,378
Other liabilities	24,102	21,956
Long-term debt	200,000	255,000
Total liabilities	505,712	588,526
Shareholders' equity:
Preferred stock, par value $.01 per share, authorized 10,000,000 shares
Common stock, par value $.01 per share, authorized 50,000,000 shares; issued 30,534,786 and 30,468,824 shares in 2018 and 2017, respectively	305	305
Additional paid-in capital	291,190	289,785
Retained earnings	606,837	516,718
Accumulated other comprehensive loss, net of tax	(31,528)	(27,308)
Total stockholders' equity before Treasury Stock	866,804	779,500
Less treasury stock, at cost (4,623,958 and 4,635,622 common shares in 2018 and 2017, respectively)	(107,394)	(107,582)
Total shareholders' equity	759,410	671,918
Total Liabilities and Shareholders' Equity	$ 1,265,122	$ 1,260,444

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017
Allowance for Doubtful Accounts Receivable, Current	$ 1,683	$ 2,030
Costs and estimated earnings on long-term contracts, progress billings	27,636	64,099
Advance payments on long-term contracts, costs incurred	$ 26,693	$ 59,772
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	50,000,000	50,000,000
Common stock, shares issued	30,534,786	30,468,824
Treasury stock, shares	4,623,958	4,635,622

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]
Balance at Sep. 30, 2015	$ 584,182	$ 304	$ 286,485	$ 433,632	$ (32,538)	$ (103,701)
Balance (in shares) at Sep. 30, 2015		30,359
Comprehensive income (loss):
Net earnings	45,882	$ 0	0	45,882	0	0
Translation adjustments, net of tax	(1,462)	0	0	0	(1,462)	0
Net unrecognized actuarial (loss) gain, net of tax	(5,250)	0	0	0	(5,250)	0
Forward exchange contracts, net of tax	(33)	0	0	0	(33)	0
Cash dividends declared	(8,242)	0	0	(8,242)	0	0
Stock options and stock compensation plans, net of tax	4,335	$ 0	4,103	0	0	232
Stock options and stock compensation plans, net of tax (in shares)		5
Purchases into treasury	(4,303)	$ 0	0	0	0	(4,303)
Ending Balance at Sep. 30, 2016	615,109	$ 304	290,588	471,272	(39,283)	(107,772)
Ending Balance (in shares) at Sep. 30, 2016		30,364
Comprehensive income (loss):
Net earnings	53,703	$ 0	0	53,703	0	0
Translation adjustments, net of tax	6,383	0	0	0	6,383	0
Net unrecognized actuarial (loss) gain, net of tax	5,573	0	0	0	5,573	0
Forward exchange contracts, net of tax	19	0	0	0	19	0
Cash dividends declared	(8,257)	0	0	(8,257)	0	0
Stock options and stock compensation plans, net of tax	(612)	$ 1	(803)	0	0	190
Stock options and stock compensation plans, net of tax (in shares)		105
Ending Balance at Sep. 30, 2017	671,918	$ 305	289,785	516,718	(27,308)	(107,582)
Ending Balance (in shares) at Sep. 30, 2017		30,469
Comprehensive income (loss):
Net earnings	92,136	$ 0	0	92,136	0	0
Translation adjustments, net of tax	(2,254)	0	0	0	(2,254)	0
Net unrecognized actuarial (loss) gain, net of tax	(2,003)	0	0	0	(2,003)	0
Forward exchange contracts, net of tax	37	0	0	0	37	0
Cash dividends declared	(8,278)	0	0	(8,278)	0	0
Reclassification from accumulated other comprehensive loss as a result of the adoption of a new accounting standard	6,261			6,261
Stock options and stock compensation plans, net of tax	1,593	$ 0	1,405	0	0	188
Stock options and stock compensation plans, net of tax (in shares)		66
Ending Balance at Sep. 30, 2018	$ 759,410	$ 305	$ 291,190	$ 606,837	$ (31,528)	$ (107,394)
Ending Balance (in shares) at Sep. 30, 2018		30,535

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	$ 0	$ 0	$ 383
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	(1,326)	(2,938)	3,059
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax	$ (41)	$ (66)	$ 95
Common Stock, Dividends, Per Share, Declared	$ 0.32	$ 0.32	$ 0.32
Adjustment to Additional Paid in Capital, Income Tax Effect from Share-based Compensation, Net	$ 0	$ 0	$ 18

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net earnings	$ 92,136	$ 53,703	$ 45,882
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	37,755	32,229	23,568
Stock compensation expense	5,218	5,444	4,704
Changes in assets and liabilities	(10,315)	(17,889)	1,746
Effect of deferred taxes on tax provision	(21,584)	1,360	(2,993)
Pension contributions	(9,951)	(2,677)	0
Other	0	(4,830)	952
Net cash provided by operating activities	93,259	67,340	73,859
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired	(11,445)	(198,628)	(82,062)
Capital expenditures	(20,589)	(29,728)	(13,843)
Additions to capitalized software	(9,573)	(9,002)	(8,665)
Proceeds from sale of land	0	1,184	0
Proceeds from life insurance	0	2,307	0
Net cash used by investing activities	(41,607)	(233,867)	(104,570)
Cash flows from financing activities:
Proceeds from long-term debt	55,000	257,000	140,000
Principal payments on long-term debt	(110,000)	(92,000)	(80,000)
Dividends paid	(8,278)	(8,257)	(8,248)
Purchases of shares into treasury	0	0	(4,303)
Debt issuance costs	0	0	(1,097)
Other	(3,078)	20	(128)
Net cash (used) provided by financing activities	(66,356)	156,763	46,224
Effect of exchange rate changes on cash and cash equivalents	(335)	1,455	(1,099)
Net (decrease) increase in cash and cash equivalents	(15,039)	(8,309)	14,414
Cash and cash equivalents at beginning of year	45,516	53,825	39,411
Cash and cash equivalents at end of year	30,477	45,516	53,825
Changes in assets and liabilities:
Accounts receivable, net	(2,789)	(23,587)	(9,088)
Costs and estimated earnings on long-term contracts, net	(5,748)	(18,540)	(359)
Inventories	(9,830)	3,959	1,101
Other assets and liabilities	(695)	(2,014)	4,982
Accounts payable	9,442	8,735	(1,953)
Advance payments on long-term contracts, net	(2,984)	6,264	(2,439)
Accrued expenses	771	5,644	4,042
Deferred revenue and costs, net	1,518	1,650	5,460
Changes in assets and liabilities	(10,315)	(17,889)	1,746
Supplemental cash flow information:
Interest paid	8,540	3,731	1,361
Income taxes paid (including state & foreign)	$ 8,789	$ 25,674	$ 22,631

Summary of Significant Accounting Policies

12 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Significant Accounting Policies

1. Summary of Significant Accounting Policies

A. Principles of Consolidation

The Consolidated Financial Statements include the accounts of ESCO Technologies Inc. (ESCO) and its wholly owned subsidiaries (the Company). All significant intercompany transactions and accounts have been eliminated in consolidation.

B. Basis of Presentation

The Company’s fiscal year ends September 30. Throughout these Consolidated Financial Statements, unless the context indicates otherwise, references to a year (for example 2018) refer to the Company’s fiscal year ending on September 30 of that year.

The Company accounts for shipping and handling costs on a gross basis and they are included in net sales. The Company accounts for taxes collected from customers and remitted to governmental authorities on a net basis and they are excluded from net sales.

C. Nature of Operations

The Company is organized based on the products and services it offers, and classifies its business operations in segments for financial reporting purposes. Under the current organization structure, the Company has four segments for financial reporting purposes: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test), Utility Solutions Group (USG) and Technical Packaging.

Filtration:

The companies within this segment primarily design and manufacture specialty filtration products, including hydraulic filter elements and fluid control devices used in commercial aerospace applications, unique filter mechanisms used in micro-propulsion devices for satellites, custom designed filters for manned aircraft and submarines, elastomeric-based signature reduction solutions to enhance U.S. Navy maritime survivability, precision-tolerance machined components for the aerospace and defense industry, and metal processing services.

Test:

ETS-Lindgren Inc. provides its customers with the ability to identify, measure and contain magnetic, electromagnetic and acoustic energy.

USG:

The companies within this segment provide high-end, intelligent, diagnostic test and data management solutions for the electric power delivery industry, and decision support tools for the renewable energy industry, primarily wind.

Technical Packaging:

The companies within this segment provide innovative solutions to the medical and commercial markets for thermoformed and precision molded pulp fiber packages and specialty products using a wide variety of thin gauge plastics and pulp.

D. Use of Estimates

The preparation of financial statements in conformity with GAAP requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities. Actual results could differ from those estimates.

E. Revenue Recognition

Filtration:

Within the Filtration segment, approximately 85% of revenues (approximately 31% of consolidated revenues) are recognized when products are delivered (when title and risk of ownership transfers) or when services are performed for unaffiliated customers.

Approximately 15% of the segment’s revenues (approximately 6% of consolidated revenues) are recorded under the percentage-of-completion method. The majority of these contracts are cost-reimbursable contracts which provide for the payment of allowable costs incurred during the performance of the contract plus an incentive fee. The remainder of the contracts are fixed-price contracts. Products accounted for under this guidance include the design, development and manufacture of complex fluid control products, quiet valves, manifolds and systems primarily for the aerospace and military markets. For fixed-price contracts that are accounted for under this guidance, the Company estimates profit as the difference between total estimated revenue and total estimated cost of a contract and recognizes these revenues and costs based on units delivered. The percentage-of-completion method of accounting involves the use of various techniques to estimate expected costs at completion. These estimates are based on Management’s judgment and the Company’s substantial experience in developing these types of estimates.

Test:

Within the Test segment, approximately 25% of revenues (approximately 6% of consolidated revenues) are recognized when products are delivered (when title and risk of ownership transfers) or when services are performed for unaffiliated customers.

Approximately 75% of the segment’s revenues (approximately 18% of consolidated revenues) are recorded under the percentage-of-completion method due to the complex nature of the enclosures that are designed and produced under these contracts. Products accounted for under this guidance include the construction and installation of complex test chambers to a buyer’s specifications that provide its customers with the ability to measure and contain magnetic, electromagnetic and acoustic energy. As discussed above, for arrangements that are accounted for under this guidance, the Company estimates profit as the difference between total revenue and total estimated cost of a contract and recognizes these revenues and costs based primarily on contract milestones. The percentage-of-completion method of accounting involves the use of various techniques to estimate expected costs at completion. These estimates are based on Management’s judgment and the Company’s substantial experience in developing these types of estimates.

USG

Within the USG segment, approximately 75% of revenues (approximately 21% of consolidated revenues) are recognized when products are delivered (when title and risk of ownership transfers), or when services are performed for unaffiliated customers. Approximately 17% of the segment’s revenues (approximately 5% of consolidated revenues) are recognized on a straight-line basis over the term. Approximately 8% of the segment’s revenues (approximately 2% of consolidated revenues) are recognized based on the terms of the software contract.

Technical Packaging:

Within the Technical Packaging segment, 100% of revenues (approximately 11% of consolidated revenues) are recognized when products are delivered (when title and risk of ownership transfers) or when services are performed for unaffiliated customers.

See the further discussion of the Company’s revenue recognition in Note 1.W, below.

F. Cash and Cash Equivalents

Cash equivalents include temporary investments that are readily convertible into cash, such as money market funds, with original maturities of three months or less.

G. Accounts Receivable

Accounts receivable have been reduced by an allowance for amounts that the Company estimates are uncollectible in the future. This estimated allowance is based on Management’s evaluation of the financial condition of the customer and historical write-off experience.

H. Costs and Estimated Earnings on Long-Term Contracts

Costs and estimated earnings on long-term contracts represent unbilled revenues, including accrued profits, accounted for under the percentage-of-completion method, net of progress billings.

I. Inventories

Inventories are valued at the lower of cost (first-in, first-out) or market value. Inventories are regularly reviewed for excess quantities and obsolescence based upon historical experience, specific identification of discontinued items, future demand, and market conditions. Inventories under long-term contracts reflect accumulated production costs, factory overhead, initial tooling and other related costs less the portion of such costs charged to cost of sales.

J. Property, Plant and Equipment

Property, plant and equipment are recorded at cost. Depreciation and amortization are computed primarily on a straight-line basis over the estimated useful lives of the assets: buildings, 10-40 years; machinery and equipment, 3-10 years; and office furniture and equipment, 3-10 years. Leasehold improvements are amortized over the remaining term of the applicable lease or their estimated useful lives, whichever is shorter. Long-lived tangible assets are reviewed for impairment whenever events or changes in business circumstances indicate the carrying value of the assets may not be recoverable. Impairment losses are recognized based on fair value.

K. Leases

Lease agreements are evaluated to determine whether they are capital or operating leases in accordance with ASC 840,

Leases

(ASC 840). When any one of the four test criteria in ASC 840 is met, the lease then qualifies as a capital lease. Capital leases are capitalized at the lower of the net present value of the total amount payable under the leasing agreement (excluding finance charges) or the fair market value of the leased asset. Capital lease assets are depreciated on a straight-line basis, over a period consistent with the Company’s normal depreciation policy for tangible fixed assets. The Company allocates each lease payment between a reduction of the lease obligation and interest expense using the effective interest method. Rent expense for operating leases, which may include free rent or fixed escalation amounts in addition to minimum lease payments, is recognized on a straight-line basis over the duration of the lease term. Capital lease obligations are included within other long-term liabilities (long-term portion) and accrued other expenses (current portion).

L. Goodwill and Other Long-Lived Assets

Goodwill represents the excess of purchase price over the fair value of net identifiable assets acquired in business acquisitions. Management annually reviews goodwill and other long-lived assets with indefinite useful lives for impairment or whenever events or changes in circumstances indicate the carrying amount may not be recoverable. If the Company determines that the carrying value of the long-lived asset may not be recoverable, a permanent impairment charge is recorded for the amount by which the carrying value of the long-lived asset exceeds its fair value. Fair value is measured based on a discounted cash flow method using a discount rate determined by Management to be commensurate with the risk inherent in the Company’s current business model.

Other intangible assets represent costs allocated to identifiable intangible assets, principally customer relationships, capitalized software, patents, trademarks, and technology rights. Intangible assets with estimable useful lives are amortized over their respective estimated useful lives to their estimated residual values, and are reviewed for impairment whenever events or changes in business circumstances indicate the carrying value of the assets may not be recoverable. See Note 3 regarding goodwill and other intangible assets activity.

M. Capitalized Software

The costs incurred for the development of computer software that will be sold, leased, or otherwise marketed are charged to expense when incurred as research and development until technological feasibility has been established for the product. Technological feasibility is typically established upon completion of a detailed program design. Costs incurred after this point are capitalized on a project-by-project basis. Capitalized costs consist of internal and external development costs. Upon general release of the product to customers, the Company ceases capitalization and begins amortization, which is calculated on a project-by-project basis as the greater of (1) the ratio of current gross revenues for a product to the total of current and anticipated future gross revenues for the product or (2) the straight-line method over the estimated economic life of the product. The Company generally amortizes the software development costs over a three-to-seven year period based upon the estimated future economic life of the product. Factors considered in determining the estimated future economic life of the product include anticipated future revenues, and changes in software and hardware technologies. Management annually reviews the carrying values of capitalized costs for impairment or whenever events or changes in circumstances indicate the carrying amount may not be recoverable. If expected cash flows are insufficient to recover the carrying amount of the asset, then an impairment loss is recognized to state the asset at its net realizable value.

N. Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets may be reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company regularly reviews its deferred tax assets for recoverability and establishes a valuation allowance when Management believes it is more likely than not such assets will not be recovered, taking into consideration historical operating results, expectations of future earnings, tax planning strategies, and the expected timing of the reversals of existing temporary differences.

Research and Development Costs

Company-sponsored research and development costs include research and development and bid and proposal efforts related to the Company’s products and services. Company-sponsored product development costs are charged to expense when incurred. Customer-sponsored research and development costs incurred pursuant to contracts are accounted for similarly to other program costs. Customer-sponsored research and development costs refer to certain situations whereby customers provide funding to support specific contractually defined research and development costs. Total Company and customer-sponsored research and development expenses were approximately $13.1 million, $14.0 million and $12.2 million for 2018, 2017 and 2016, respectively. These expense amounts exclude certain engineering costs primarily associated with product line extensions, modifications and maintenance, which amounted to approximately $13.1 million, $10.4 million and $8.2 million for 2018, 2017 and 2016, respectively.

Foreign Currency Translation

The financial statements of the Company’s foreign operations are translated into U.S. dollars in accordance with FASB ASC Topic 830,

Foreign Currency Matters

. The resulting translation adjustments are recorded as a separate component of accumulated other comprehensive income.

Earnings Per Share

Basic earnings per share is calculated using the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated using the weighted average number of common shares outstanding during the period plus shares issuable upon the assumed exercise of dilutive common share options and vesting of performance-accelerated restricted shares using the treasury stock method. There are no anti-dilutive shares.

The number of shares used in the calculation of earnings per share for each year presented is as follows:

(in thousands)	2018		2017		2016
Weighted Average Shares Outstanding — Basic		25,874		25,774		25,762
Performance- Accelerated Restricted Stock		184		221		206
Shares — Diluted		26,058		25,995		25,968

Share-Based Compensation

The Company provides compensation benefits to certain key employees under several share-based plans providing for employee stock options and/or performance-accelerated restricted shares (restricted shares), and to non-employee directors under a non-employee directors compensation plan. Share-based payment expense is measured at the grant date based on the fair value of the award and is recognized on a straight-line basis over the requisite service period (generally the vesting period of the award).

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss of $(31.5) million at September 30, 2018 consisted of $(30.9) million related to the pension net actuarial loss; $(0.5) million related to currency translation adjustments; and $(0.1) million related to forward exchange contracts. Accumulated other comprehensive loss of $(27.3) million at September 30, 2017 consisted of $(28.9) million related to the pension net actuarial loss; $1.7 million related to currency translation adjustments; and $(0.1) million related to forward exchange contracts.

Deferred Revenue and Costs

Deferred revenue and costs are recorded when products or services have been provided or cash has been received but the criteria for revenue recognition have not been met. If there is a customer acceptance provision or there is uncertainty about customer acceptance, revenue and costs are deferred until the customer has accepted the product or service.

Derivative Financial Instruments

All derivative financial instruments are reported on the balance sheet at fair value. The accounting for changes in fair value of a derivative instrument depends on whether it has been designated and qualifies as a hedge and on the type of hedge. For each derivative instrument designated as a cash flow hedge, the effective portion of the gain or loss on the derivative is deferred in accumulated other comprehensive income until recognized in earnings with the underlying hedged item. For each derivative instrument designated as a fair value hedge, the gain or loss on the derivative and the offsetting gain or loss on the hedged item are recognized immediately in earnings. Regardless of type, a fully effective hedge will result in no net earnings impact while the derivative is outstanding. To the extent that any hedge is ineffective at offsetting cash flow or fair value changes in the underlying hedged item, there could be a net earnings impact.

Fair Value Measurements

Fair value is defined as the price at which an asset could be exchanged in a current transaction between knowledgeable, willing parties or the amount that would be paid to transfer a liability to a new obligor, not the amount that would be paid to settle the liability with the creditor. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models are applied. These valuation techniques involve some level of Management estimation and judgment, the degree of which is dependent on the price transparency for the instruments or market and the instruments’ complexity.

The accounting guidance establishes a three-level hierarchy for disclosure of fair value measurements, based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date, as follows:

Level 1 – Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 –Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

Level 3 – Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

Financial Assets and Liabilities

The Company has estimated the fair value of its financial instruments as of September 30, 2018 using available market information or other appropriate valuation methodologies. The carrying amounts of cash and cash equivalents, receivables, inventories, payables and other current assets and liabilities approximate fair value because of the short maturity of those instruments. The carrying amounts due under the revolving credit facility approximate fair value as the interest on outstanding borrowings is calculated at a spread over the London Interbank Offered Rate (LIBOR) or based on the prime rate, at the Company’s election.

Nonfinancial Assets and Liabilities

The Company’s nonfinancial assets such as property, plant and equipment, and other intangible assets are not measured at fair value on a recurring basis; however they are subject to fair value adjustments in certain circumstances, such as when there is evidence that an impairment may exist. No impairments were recorded during 2018.

New Accounting Standards

Revenue Recognition

In May 2014, the FASB issued ASU No. 2014-09,

Revenue from Contracts with Customers

, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This guidance has been further clarified and amended. This new standard became effective for the Company as of October 1, 2018, and will be adopted using the modified retrospective transition method. Under this method, the Company will record the cumulative effect of adopting the new standard in the first quarter of 2019.

Because the new standard impacts the Company’s business processes, systems and controls, it developed a project plan to guide the implementation. This project plan included analyzing the standard’s impact on the Company’s contract portfolio, comparing the Company’s historical accounting policies and practices to the requirements of the new standard, and identifying differences from applying the requirements of the new standard to the Company’s contracts. The Company developed internal controls to ensure that it adequately evaluated its portfolio of contracts under the five-step model to ensure proper assessment of the Company’s operating results under ASU 2014-09. Management reported on the progress of the implementation to the Company’s Audit Committee and the Board of Directors on a regular basis during the project’s duration. The primary impact of the adoption of ASU 2014-09 on the Company’s portfolio of contracts and its Consolidated Financial Statements is that more of the Company’s contracts within the Filtration and Technical Packaging segments will recognize revenue and earnings over time as the work progresses versus at a single point of time.

Based on review and analysis of the Company’s contracts, the standard primarily impacts the Filtration and Technical Packaging segments, which have long-term production contracts with the U.S. Government and other commercial customers. Revenue for certain of the contracts within the Filtration segment, and the majority of contracts within the Technical Packaging segment will be recognized over time primarily as: (i) services performed or products installed by the Company are for the enhancement of assets owned and controlled by the customer, (ii) customized products and services performed do not have an alternative use to the Company; and (iii) there is continuous transfer of control to the customer.

Prior to adoption of the new standard, revenue was generally recognized for these contracts as units were delivered, while under the new standard, revenue will be recognized over time, principally as costs are incurred. This change will generally result in an acceleration of revenue for these contracts. The Company determined that revenues in the Test and USG segments are expected to follow a revenue recognition pattern under the new guidance consistent with the Company’s current practice. The Company identified required changes under the new guidance for the recognition of capitalization of commissions on contracts within the Company’s Test segment; however, based on the review of contracts within the Test segment, changes related to this item are expected to have an inconsequential impact on the timing or amount of liabilities accrued as compared to current business practices.

At the adoption date, the impact of recognizing these revenues under the new standard for historical periods ending prior to September 30, 2018 is expected to result in a cumulative pretax transition adjustment to increase retained earnings by approximately $5 million, related to the Filtration and Technical Packaging segments. In addition, the transition adjustment will establish contract assets of approximately $35 million, with corresponding decreases in inventory of approximately $30 million and in contract liabilities (deferred revenue and customer deposits) and accounts receivables, primarily reflecting the conversion of contracts to the cost-to-cost method. This change is not expected to have a significant impact on the Company’s future operating results as the revenue on contracts that would have been recognized under the units-of-delivery method in future years will essentially be replaced by the acceleration of revenue on contracts into earlier periods using the cost-to-cost method. The new standard will have no impact on cash flows and does not affect the economics of the underlying customer contracts.

The Company implemented changes to its financial reporting processes, systems and controls to comply with the disclosure requirements of the new guidance including: (i) changes to balances in contract assets and contract liabilities; and (ii) disaggregation of revenues. The Company expects to change the presentation of certain financial statement accounts to align with the new standard. The most notable change will be presenting costs and estimated earnings in excess of billings as contract assets and billings in excess of costs and estimated earnings as contract liabilities. The Company will report contract balances as a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period.

Other Standards

In January 2018, the FASB issued ASU No. 2018-02,

Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

, which gives entities the option to reclassify to retained earnings the tax effects resulting from the Act related to items in accumulated other comprehensive income (loss) (AOCI) that the FASB refers to as having been stranded in AOCI. This new standard is effective for annual periods beginning after December 15, 2018. The Company adopted this ASU in the fourth quarter of 2018 and, as a result of adopting this standard, the Company reclassified $6.3 million from AOCI to retained earnings.

In March 2017, the FASB issued ASU 2017-07,

Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost

, which updates ASC 715,

Compensation – Retirement Benefits

. This update permits only the service cost component of net periodic pension and postretirement expense to be reported with other compensation costs, while all other components are required to be reported separately in other deductions, outside any subtotal of operating income. These updates are effective for fiscal years beginning after December 15, 2017, with early adoption permitted, and must be adopted on a retrospective basis. The updates change presentation only and will not impact the Company’s results of operations.

In August 2017, the FASB issued ASU 2017-12,

Targeted Improvements to Accounting for Hedge Activities

, which updates ASC 815,

Derivatives and Hedging

. This update is intended to amend the hedge accounting model to enable entities to better align the economics of risk management activities and financial reporting. The updates eliminate the requirement to separately measure and report hedge ineffectiveness and simplify hedge documentation and effectiveness assessment requirements. These updates are effective for fiscal years beginning after December 15, 2018, with early adoption permitted, and must be adopted using a modified retrospective approach. These updates are not expected to materially impact the Company’s results of operations.

In January 2017, the FASB issued Accounting Standards Update (ASU) No. 2017-04,

Simplifying the Test for Goodwill Impairment

(ASU 2017-04), which eliminates Step 2 from the goodwill impairment test. Under the amendments in this update, an entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The new standard is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment test performed on testing dates after January 1, 2017. The Company adopted this standard in the fourth quarter of 2017 with its annual goodwill impairment tests. The adoption of ASU 2017-04 did not have an impact on the Company’s consolidated financial statements.

In March 2016, the FASB issued ASU No. 2016-09,

Improvements to Employee Share-Based Payment Accounting

, which simplified the income tax consequences, accounting for forfeitures and classification on the Statements of Consolidated Cash Flows. The Company adopted this standard in 2017 resulting in the income tax expense in the third quarter and fiscal year 2017 being favorably impacted by additional tax benefits on share-based compensation that vested during the third quarter of 2017 decreasing the effective tax rate by 5.1% and 1.1%, respectively.

In February 2016, the FASB issued ASU No. 2016-062,

Leases (Topic 842)

, which, among other things, requires an entity to recognize lease assets and lease liabilities on the balance sheet and disclose key information about leasing arrangements. This standard will increase an entity’s reported assets and liabilities. The new standard is effective for fiscal years beginning after December 15, 2018 and mandates a modified retrospective transition period for all entities. The Company is currently assessing the impact of this new standard on its consolidated financial statements and related disclosures.

Acquisitions

12 Months Ended

Sep. 30, 2018

Business Combinations [Abstract]

ACQUISITIONS

Acquisitions

2018

On March 14, 2018, the Company acquired the assets of Manta Test Systems Inc. (Manta), a North American utility solutions provider located in Mississauga, Ontario, Canada, for a purchase price of $9.5 million in cash. Manta has annualized sales of approximately $8 million. Since the date of acquisition, the operating results for Manta have been included as a product line of Doble Engineering Company within the Company’s USG segment. Based on the purchase price allocation, the Company recorded approximately $0.4 million of accounts receivable, $1.1 million of inventory, $0.2 million of property, plant and equipment, $0.4 million of accounts payable and accrued expenses, $3.5 million of goodwill, $1.2 million of tradenames and $3.5 million of amortizable intangible assets consisting of customer relationships with a weighted average life of 13 years.

2017

On August 30, 2017, the Company acquired the assets of Vanguard Instruments Company (Vanguard Instruments), a test equipment provider serving the global electric utility market, located in Ontario, California, for a purchase price of $36.0 million in cash. Vanguard Instruments has annualized sales of approximately $14 million. Since the date of acquisition, the operating results for Vanguard Instruments have been included as a product line of Doble within the Company’s USG segment. Based on the purchase price allocation, the Company recorded approximately $1.8 million of accounts receivable, $2.1 million of inventory, $0.3 million of property, plant and equipment, $0.2 million of accounts payable and accrued expenses, $10.7 million of goodwill, $3.2 million of tradenames and $18.0 million of amortizable intangible assets consisting of customer relationships with a weighted average life of 15 years.

On May 25, 2017, the Company acquired the assets of Morgan Schaffer Inc. (Morgan Schaffer), a global utilities provider located in Montreal, Quebec, Canada, for a purchase price of $48.8 million in cash. Morgan Schaffer has annualized sales of approximately $25 million. It designs, develops, manufactures and markets an integrated offering of dissolved gas analysis, oil testing, and data management solutions which enhance the ability of electric utilities to accurately monitor the health of critical power transformers. Since the date of acquisition, the operating results for Morgan Schaffer have been included in the Company’s USG segment. Based on the purchase price allocation, the Company recorded approximately $2.5 million of accounts receivable, $5.2 million of inventory, $1.7 million of property, plant and equipment, $0.4 million of other assets, $4.9 million of accounts payable and accrued expenses, $4.8 million of goodwill, $35.6 million of trade names and $3.6 million of amortizable intangible assets consisting of customer relationships and developed technology with a weighted average life of approximately 10 years.

On May 8, 2017, the Company acquired NRG Systems, Inc. (NRG), located in Hinesburg, Vermont, for a purchase price of $38.6 million in cash (net of cash acquired). NRG is a global market leader in the design and manufacture of decision support tools for the renewable energy industry, primarily wind. NRG has annualized sales of approximately $45 million. Since the date of acquisition, the operating results for NRG have been included in the Company’s USG segment. Based on the purchase price allocation, the Company recorded approximately $1.5 million of cash, $4.1 million of accounts receivable, $5.1 million of inventory, $0.4 million of other assets, $9.4 million of property, plant and equipment (including a capital lease), $4.3 million of accounts payable and accrued expenses, $8.9 million of long-term lease liability, $7.5 million of goodwill, $8.1 million of trade names and $17.2 million of amortizable intangible assets consisting of customer relationships with a weighted average life of approximately 14 years.

On November 7, 2016, the Company acquired aerospace suppliers Mayday Manufacturing Co. (Mayday) and its affiliate, Hi-Tech Metals, Inc. (Hi-Tech), which share a state-of-the-art, expandable 130,000 square foot facility in Denton, Texas, for a purchase price of approximately $75 million in cash. Mayday is a leading manufacturer of mission-critical bushings, pins, sleeves and precision-tolerance machined components for landing gear, rotor heads, engine mounts, flight controls and actuation systems for the aerospace and defense industry. Hi-Tech is a full-service metal processor offering aerospace OEM’s and Tier 1 suppliers a large portfolio of processing services including anodizing, cadmium and zinc-nickel plating, organic coatings, non-destructive testing and heat treatment. Mayday and Hi-Tech together have annual sales of approximately $40 million. Since the date of acquisition, the consolidated operating results for Mayday and Hi-Tech have been included in the Company’s Filtration segment. Based on the purchase price allocation, the Company recorded approximately $7.4 million of accounts receivable, $11.0 million of inventory, $0.3 million of other assets, $16.6 million of property, plant and equipment (including a capital lease), $2.8 million of accounts payable and accrued expenses, $9.5 million of long-term lease liability, $15.7 million of deferred tax liabilities, $30.1 million of goodwill, $4.8 million of trade names and $32.8 million of amortizable identifiable intangible assets consisting primarily of customer relationships with a weighted-average life of approximately 20 years.

2016

On September 2, 2016, the Company acquired the stock of Westland Technologies, Inc. (Westland), located in Modesto, California, for a purchase price of approximately $41 million in cash (net of cash acquired). Westland is a market leader in the design, development and manufacture of elastomeric-based signature reduction solutions which enhance U.S. Naval maritime platform survivability. Westland has annual sales of approximately $25 million. Since the date of acquisition, the operating results for Westland have been included within the Company’s Filtration segment. Based on the purchase price allocation, the Company recorded tangible assets, net, of $4.6 million, deferred tax liabilities of $9.5 million, goodwill of $17.3 million, and $28.3 million of identifiable intangible assets primarily consisting of customer relationships.

On January 29, 2016, the Company acquired Plastique Limited and Plastique Sp. z o.o. (together, Plastique), headquartered in Tunbridge Wells, England with manufacturing locations in Nottingham, England and Poznan, Poland, for a purchase price of approximately $31.6 million (of which $2.7 million is due over the next two years, one payment in January 2018 and one in January 2019). Plastique is a market leader in the development and manufacture of highly-technical thermoformed plastic and precision molded pulp fiber packaging primarily serving pharmaceutical, personal care, and various specialty end markets. Since the date of acquisition, the operating results for Plastique have been included within the Company’s Technical Packaging segment. Plastique has annual sales of approximately $35 million. Based on the purchase price allocation, the Company recorded tangible assets, net, of $9.6 million, goodwill of $10.2 million, and $11.9 million of identifiable intangible assets primarily consisting of customer relationships.

On October 16, 2015, the Company acquired the stock of Fremont Plastics, Inc. (Fremont) for a purchase price of $10.5 million in cash. The Company also purchased for $2 million Fremont’s real property located in Fremont, Indiana. Fremont was a developer, manufacturer, promoter and seller of high quality sterile-ready and non-sterile thin gauge thermoformed medical plastic packaging products. Immediately following the closing of the transaction, Fremont was merged into TEQ, and therefore since the date of acquisition the operating results for Fremont have been included as part of TEQ.

All of the Company’s acquisitions have been accounted for using the purchase method of accounting, and accordingly, the respective purchase prices were allocated to the assets (including intangible assets) acquired and liabilities assumed based on estimated fair values at the date of acquisition. The financial results from these acquisitions have been included in the Company’s financial statements from the date of acquisition.

The goodwill recorded for the Mayday, Westland, Plastique and Fremont acquisitions mentioned above is not expected to be deductible for U.S. Federal or state income tax purposes. The goodwill recorded for the Vanguard Instruments and NRG acquisitions mentioned above is expected to be deductible for U.S. Federal and state income tax purposes. The goodwill recorded for the Manta and Morgan Schaffer acquisitions is expected to be deductible for Canadian income tax purposes.

Goodwill and Other Intangible Assets

12 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill and Other Intangible Assets

Included on the Company’s Consolidated Balance Sheets at September 30, 2018 and 2017 are the following intangible assets gross carrying amounts and accumulated amortization:

(Dollars in millions)	2018		2017
Goodwill	$	381.7		377.9

Intangible assets with determinable lives:
Patents
Gross carrying amount	$	1.8		1.0
Less: accumulated amortization		0.8		0.8
Net	$	1.0		0.2

Capitalized software
Gross carrying amount	$	71.3		63.0
Less: accumulated amortization		41.6		34.4
Net	$	29.7		28.6

Customer Relationships
Gross carrying amount	$	185.3		181.9
Less: accumulated amortization		47.8		37.4
Net	$	137.5		144.5

Other
Gross carrying amount	$	5.5		5.4
Less: accumulated amortization		2.0		1.4
Net	$	3.5		4.0
Intangible assets with indefinite lives:
Trade names	$	173.7		173.8

The Company performed its annual evaluation of goodwill and intangible assets for impairment during the fourth quarter of 2018 and concluded no impairment existed at September 30, 2018 and there are no accumulated impairment losses as of September 30, 2018.

The changes in the carrying amount of goodwill attributable to each business segment for 2018 and 2017 are as follows:

(Dollars in millions)	Filtration		Test		USG		Technical Packaging			Total
Balance as of September 30, 2016	$	43.9		34.1		226.2		19.4			323.6
Acquisition activity		29.8		–		23.6		–			53.4
Foreign currency translation and other		–		–		0.4		0.5			0.9
Balance as of September 30, 2017		73.7		34.1		250.2		19.9			377.9
Acquisition activity		–		–		3.9		–			3.9
Foreign currency translation and other		–		–		–		(0.1	)		(0.1	)
Balance as of September 30, 2018	$	73.7		34.1		254.1		19.8			381.7

Amortization expense related to intangible assets with determinable lives was $18.3 million, $16.3 million and $11.6 million in 2018, 2017 and 2016, respectively. Patents are amortized over the life of the patents, generally 17 years. Capitalized software is amortized over the estimated useful life of the software, generally three to seven years. Customer relationships are generally amortized over fifteen to twenty years. Intangible asset amortization for fiscal years 2019 through 2023 is estimated at approximately $19 million per year.

Accounts Receivable

12 Months Ended

Sep. 30, 2018

Receivables [Abstract]

Accounts Receivable

Accounts receivable, net of the allowance for doubtful accounts, consist of the following at September 30, 2018 and 2017:

(Dollars in thousands)	2018		2017
Commercial	$	146,049		152,265
U.S. Government and prime contractors		17,691		8,315
Total	$	163,740		160,580

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Income Tax Expense

12 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

INCOME TAX EXPENSE

Income Tax Expense

The components of income before income taxes for 2018, 2017 and 2016 consisted of the following:

(Dollars in thousands)	2018		2017		2016
United States	$	80,994		72,353		62,353
Foreign		7,029		7,800		6,067
Total income before income taxes	$	88,023		80,153		68,420

The principal components of income tax expense (benefit) for 2018, 2017 and 2016 consist of:

(Dollars in thousands)	2018			2017			2016
Federal:
Current	$	9,174			21,448			19,236
Deferred		(22,943	)		628			(909	)
State and local:
Current		2,121			1,795			1,674
Deferred		2,972			(49	)		(222	)
Foreign:
Current		2,233			4,450			1,899
Deferred		2,330			(1,822	)		860
Total	$	(4,113	)		26,450			22,538

The actual income tax expense (benefit) for 2018, 2017 and 2016 differs from the expected tax expense for those years (computed by applying the U.S. Federal corporate statutory rate) as follows:

	2018			2017			2016
Federal corporate statutory rate		24.5	%		35.0	%		35.0	%
State and local, net of Federal benefits		3.0			2.4			2.0
Foreign		0.6			(0.1	)		(1.0	)
Research credit		(1.6	)		(1.1	)		(2.5	)
Domestic production deduction		(1.1	)		(2.7	)		(2.8	)
Change in uncertain tax positions		(0.1	)		–			–
Executive compensation		(0.1	)		(0.1	)		0.9
Valuation allowance		3.0			(0.3	)		1.8
Tax reform – impact on U.S. deferred tax assets and liabilities		(37.2	)		–			–
Tax reform – transition tax		1.5			–			–
Tax reform – taxes related to foreign unremitted earnings		2.8			–			–
Other, net		–			(0.1	)		(0.5	)
Effective income tax rate		(4.7	)%		33.0	%		32.9	%

On December 22, 2017, President Trump signed into law new tax legislation commonly referred to as the Tax Cut and Jobs Act (the “TCJA”). The TCJA includes broad and complex changes to the U.S. tax code that impacted the Company’s accounting and reporting for income taxes in the current year. These impacts primarily consist of the following:



A reduction in the U.S. federal corporate income tax rate from 35% to 21%, effective January 1, 2018, which resulted in a fiscal 2018 U.S. blended statutory income tax rate for the Company of 24.5%.



A remeasurement of U.S. deferred tax assets and liabilities.



A one-time mandatory deemed repatriation tax on unremitted foreign earnings (the “Transition Tax”), which may be paid over an eight-year period.

Staff Accounting Bulletin No. 118 (SAB 118) was issued by the SEC effective December 22, 2017. SAB 118 allows registrants to record provisional amounts of the income tax effects of the TCJA where the information necessary to complete the accounting under ASC Topic 740 is not available but the amounts are based on reasonable estimates. SAB 118 permits registrants to record adjustments to its provisional amounts during the measurement period (which cannot exceed one year).

The statutory tax rate reduction of the TCJA reduced U.S. net deferred tax liabilities by $30.7 million. An additional $1.0 million benefit was recorded as a result of a $7.5 million pension contribution approved during the second quarter of 2018. In addition, a tax accounting method change was filed in the third quarter of 2018 which resulted in an additional favorable deferred tax liability adjustment of $1.0 million. The remeasurement of U.S. net deferred tax liabilities is complete as of September 30, 2018.

The Company recorded a provisional charge for the Transition Tax of $3.7 million for the year ended September 30, 2018. Certain technical aspects of the TCJA remain subject to varying degrees of uncertainty and the Company has therefore made interpretations of the enacted legislation in its provisional income tax computations based upon the best available guidance while it awaits expected technical guidance and clarification from the U.S. government. One such calculation requiring further guidance is the possible unintended benefit of the application of new Section 245A (dividend received deduction) as it relates to the Transition Tax for fiscal year companies. The Company believes there is insufficient clarity and significant uncertainty with respect to this issue as of September 30, 2018 and, therefore, has decided not to reduce its Transitional Tax provisional charge for the possible benefit at this time.

In addition, as a result of the Transition Tax, the Company recorded a charge of $2.4 million related to foreign withholding taxes in connection with the reversal of its indefinite reinvestment assertion related to cumulative undistributed foreign earnings as of December 31, 2017. This charge is complete as of September 30, 2018.

There are other impacts under the TCJA that are not effective for the Company until fiscal 2019. These primarily include a further reduction in the U.S. statutory rate to 21%, a new minimum tax on global intangible low-taxed income (“GILTI”) and the benefit of the deduction for Foreign-Derived Intangible Income (“FDII”). With respect to the new GILTI provision, U.S. GAAP allows companies to make an accounting policy election and record taxes as a period cost as incurred or factor such amounts in the measurement of deferred taxes. The Company has made an accounting policy election to record these taxes as a period cost.

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at September 30, 2018 and 2017 are presented below:

(Dollars in thousands)	2018			2017
Deferred tax assets:
Inventories	$	5,834			9,639
Pension and other postretirement benefits		3,969			11,345
Net operating and capital loss carryforwards — domestic		639			501
Net operating loss carryforward — foreign		4,603			4,486
Foreign tax credit carryforward		2,377			–
Other compensation-related costs and other cost accruals		7,048			12,104
State credit carryforward		2,103			2,098
Total deferred tax assets		26,573			40,173

Deferred tax liabilities:
Goodwill		(969	)		(4,874	)
Acquisition assets		(62,841	)		(91,752	)
Depreciation, software amortization		(19,584	)		(24,092	)
Net deferred tax liabilities before valuation allowance		(56,821	)		(80,545	)
Less valuation allowance		(7,144	)		(4,440	)
Net deferred tax liabilities	$	(63,965	)		(84,985	)

The Company has a foreign net operating loss (NOL) carryforward of $19.0 million at September 30, 2018, which reflects tax loss carryforwards in Germany, India, Finland, China, South Africa, Japan, Canada and the United Kingdom. $16.7 million of the tax loss carryforwards have no expiration date while the remaining $2.3 million will expire between 2019 and 2027. The Company has deferred tax assets related to state NOL carryforwards of $0.6 million at September 30, 2018 which expire between 2025 and 2038. The Company also has net state research and other credit carryforwards of $2.1 million of which $1.7 million expires between 2025 and 2037. The remaining $0.4 million does not have an expiration date.

The valuation allowance for deferred tax assets as of September 30, 2018 and 2017 was $7.1 million and $4.4 million, respectively. The net change in the total valuation allowance for each of the years ended September 30, 2018 and 2017 was an increase of $2.7 million and a decrease of $1.3 million, respectively. In 2018 the Company established a valuation allowance for excess foreign tax credits that are not expected to be utilized in future periods of $2.4 million at September 30, 2018. The Company has established a valuation allowance against state credit carryforwards of $0.4 million at both September 30, 2018 and 2017. In addition, the Company has established a valuation allowance against state NOL carryforwards that are not expected to be realized in future periods of $0.6 million and $0.4 million at September 30, 2018 and 2017, respectively. Lastly, the Company has established a valuation allowance against certain NOL carryforwards in foreign jurisdictions which may not be realized in future periods of $3.8 million and $3.7 million at September 30, 2018 and 2017, respectively.

The Company’s subsidiary ETS-Lindgren Oy, Finland, has recorded a deferred tax asset of $0.2 million reflecting the benefit of $2.2 million in loss carryforwards, which expires in 2027. Realization is dependent on generating sufficient taxable income prior to expiration of the loss carryforwards. Although realization is not assured, Management believes it is more likely than not that all of the deferred tax asset will be realized. The amount of the deferred tax asset considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carryforward period are reduced.

The Company’s foreign subsidiaries have accumulated unremitted earnings of $3.5 million at September 30, 2018. No deferred taxes have been provided on these accumulated unremitted earnings because these funds are not needed to meet the liquidity requirements of the Company’s U.S. operations and it is the Company’s intention to indefinitely reinvest these earnings in continuing international operations. In the event these foreign entities’ earnings were distributed, it is estimated that approximately $0.3 million of foreign tax withholding would be paid. The Company does not expect that these taxes would be creditable against U.S. income tax, so they would correspondingly reduce the Company’s net earnings. No significant portion of the Company’s foreign subsidiaries’ earnings was taxed at a very low tax rate.

The Company had $0.1 million of unrecognized tax benefits as of both September 30, 2018 and 2017, which, if recognized, would affect the Company’s effective tax rate. The Company expects $0.1 million of unrecognized tax benefits to reverse in the next twelve months. The Company’s policy is to include interest related to unrecognized tax benefits in income tax expense and penalties in operating expense. As of September 30, 2018, 2017 and 2016, the Company had zero accrued interest related to uncertain tax positions on its Consolidated Balance Sheets. No significant penalties have been accrued.

The principal jurisdictions for which the Company files income tax returns are U.S. Federal and the various city, state, and international locations where the Company has operations. The U.S. Federal tax years for the periods ended September 30, 2015 and forward remain subject to income tax examination. Various state tax years for the periods ended September 30, 2014 and forward remain subject to income tax examinations. The Company is subject to income tax in many jurisdictions outside the United States, none of which is individually significant.

Debt

12 Months Ended

Sep. 30, 2018

Long-term Debt, Unclassified [Abstract]

DEBT

Debt

Debt consists of the following at September 30, 2018 and 2017:

(Dollars in thousands)	2018			2017
Revolving credit facility, including current portion	$	220,000			275,000
Current portion of long-term debt		(20,000	)		(20,000	)
Total long-term debt, less current portion	$	200,000			255,000

The Company’s existing credit facility (“the Credit Facility”) matures December 21, 2020. The Credit Facility includes a $450 million revolving line of credit as well as provisions allowing for the increase of the credit facility commitment amount by an additional $250 million, if necessary, with the consent of the lenders. The bank syndication supporting the facility is comprised of a diverse group of nine banks led by JP Morgan Chase Bank, N.A., as Administrative Agent.

At September 30, 2018, the Company had approximately $204 million available to borrow under the Credit Facility, plus the $250 million increase option, in addition to $30.5 million cash on hand. The Company classified $20 million as the current portion of long-term debt as of September 30, 2018, as the Company intends to repay this amount within the next twelve months; however, the Company has no contractual obligation to repay such amount during the next twelve months.

The Credit Facility requires, as determined by certain financial ratios, a facility fee ranging from 12.5 to 27.5 basis points per annum on the unused portion. The terms of the facility provide that interest on borrowings may be calculated at a spread over the London Interbank Offered Rate (LIBOR) or based on the prime rate, at the Company’s election. The facility is secured by the unlimited guaranty of the Company’s material domestic subsidiaries and a 65% pledge of its material foreign subsidiaries’ share equity. The financial covenants of the Credit Facility include a leverage ratio and an interest coverage ratio. As of September 30, 2018, the Company was in compliance with all bank covenants.

During 2018 and 2017, the maximum aggregate short-term borrowings at any month-end were $271 million and $298 million, respectively, and the average aggregate short-term borrowings outstanding based on month-end balances were $258.8 million and $211.3 million, respectively. The weighted average interest rates were 3.03%, 2.09% and 1.58% for 2018, 2017 and 2016, respectively. The letters of credit issued and outstanding under the Credit Facility totaled $7.8 million and $9.7 million at September 30, 2018 and 2017, respectively.

Share-Based Compensation

12 Months Ended

Sep. 30, 2018

Share-based Compensation [Abstract]

SHARE-BASED COMPENSATION

10.

Share-Based Compensation

The Company provides compensation benefits to certain key employees under several share-based plans providing for performance-accelerated restricted share unit (PARS) awards, and to non-employee directors under a non-employee directors compensation plan. The Company has no stock options currently outstanding. As of September 30, 2018, the Company had 947,377 shares available for future issuance under equity compensation plans.

Performance-Accelerated Restricted Share Unit (PARS) Awards

A PARS award represents the right to receive a specified number of shares of Company common stock if and when the award vests. A PARS award is not stock and does not give the recipient any rights as a shareholder until it vests and is paid out in shares of stock. PARS awards currently outstanding have a five-year vesting period, with accelerated vesting if certain targets based on market conditions are achieved. In these cases, if it is probable that the performance condition will be met, the Company recognizes compensation cost on a straight-line basis over the shorter performance period; otherwise, it will recognize compensation cost over the longer service period. Compensation cost for the outstanding PARS awards is being recognized over the shorter performance period, as it is probable the performance condition will be met. The PARS award grants were valued at the stock price on the date of grant. Pretax compensation expense related to the PARS awards for continuing operations was $4.1 million, $4.4 million and $3.9 million for 2018, 2017 and 2016, respectively.

The following summary presents information regarding outstanding PARS awards as of the specified dates, and changes during the specified periods:

	FY 2018					FY 2017					FY 2016
	Shares			Estimated Weighted Avg. Price		Shares			Estimated Weighted Avg. Price		Shares			Estimated Weighted Avg. Price
Nonvested at October 1,		335,825			40.35		427,438		$	35.40		326,536		$	35.29
Granted		104,320			56.06		110,422			51.16		120,902			35.75
Vested		(121,301	)		35.59		(202,035	)		35.78		(8,000	)		36.06
Cancelled		(3,300	)		53.86		–			–		(12,000	)		35.47
Nonvested at September 30,		315,544			47.23		335,825		$	40.35		427,438		$	35.40

Non-Employee Directors Plan

Through the first quarter of 2018 the non-employee directors compensation plan provided to each non-employee director a retainer of 900 common shares per quarter. Beginning in the second quarter of 2018, the quarterly retainer was replaced by an annual retainer of Company stock having a grant date market value of $180,000. Non-employee director grants were valued at the NYSE closing price of the Company’s stock on the date of grant and were issued from the Company’s treasury stock. Compensation expense related to the non-employee director grants was $1.1 million, $1.0 million and $0.8 million for 2018, 2017 and 2016, respectively.

Total Share-Based Compensation

The total share-based compensation cost that has been recognized in results of operations and included within SG&A from continuing operations was $5.2 million, $5.4 million and $4.7 million for 2018, 2017 and 2016, respectively. The total income tax benefit recognized in results of operations for share-based compensation arrangements was $1.3 million, $1.8 million and $1.3 million for 2018, 2017 and 2016, respectively. As of September 30, 2018, there was $7.8 million of total unrecognized compensation cost related to share-based compensation arrangements. That cost is expected to be recognized over a weighted-average period of 1.7 years.

Retirement and Other Benefit Plans

12 Months Ended

Sep. 30, 2018

Retirement Benefits [Abstract]

RETIREMENT PLANS

11.

Retirement and Other Benefit Plans

Formerly, substantially all domestic employees were covered by a defined contribution pension plan maintained by the Company. Effective December 31, 2003, the Company’s defined benefit plan was frozen and no additional benefits have been accrued after that date. As a result, the accumulated benefit obligation and projected benefit obligation are equal. These frozen retirement income benefits are provided to employees under defined benefit pay-related and flat-dollar plans, which are noncontributory. The annual contributions to the defined benefit retirement plan equal or exceed the minimum funding requirements of the Employee Retirement Income Security Act. In addition to providing retirement income benefits, the Company provides unfunded postretirement health and life insurance benefits to certain retirees. To qualify, an employee must retire at age 55 or later and the employee’s age plus service must equal or exceed 75. Retiree contributions are defined as a percentage of medical premiums. Consequently, retiree contributions increase with increases in the medical premiums. The life insurance plans are noncontributory and provide coverage of a flat dollar amount for qualifying retired employees. Effective December 31, 2004, no new retirees were eligible for life insurance benefits.

The Company uses a measurement date of September 30 for its pension and other postretirement benefit plans. The Company has an accrued benefit liability of $0.5 million and $0.6 million at September 30, 2018 and 2017, respectively, related to its other postretirement benefit obligations. All other information related to its postretirement benefit plans is not considered material to the Company’s results of operations or financial condition.

The following tables provide a reconciliation of the changes in the pension plans and fair value of assets over the two-year period ended September 30, 2018, and a statement of the funded status as of September 30, 2018 and 2017:

(Dollars in millions)
Reconciliation of benefit obligation	2018			2017
Net benefit obligation at beginning of year	$	95.3			100.6
Interest cost		3.4			3.2
Actuarial (gain) loss		(4.3	)		(4.1	)
Gross benefits paid		(4.6	)		(4.4	)
Settlements		–			–
Net benefit obligation at end of year	$	89.8			95.3

(Dollars in millions)
Reconciliation of fair value of plan assets	2018			2017
Fair value of plan assets at beginning of year	$	65.0			60.6
Actual return on plan assets		2.7			5.9
Employer contributions		10.2			2.9
Gross benefits paid		(4.6	)		(4.4	)
Settlements		–			–
Fair value of plan assets at end of year	$	73.3			65.0

(Dollars in millions)
Funded Status	2018			2017
Funded status at end of year	$	(16.5	)		(30.3	)
Accrued benefit cost		(16.5	)		(30.3	)

Amounts recognized in the Balance Sheet consist of:
Current liability		(0.2	)		(0.2	)
Noncurrent liability		(16.3	)		(30.1	)
Accumulated other comprehensive (income)/loss (before tax effect)		41.9			47.4

Amounts recognized in accumulated other comprehensive (income)/loss consist of:
Net actuarial loss		41.9			47.4

Accumulated other comprehensive (income)/loss (before tax effect)	$	41.9			47.4

The estimated amount that will be amortized from accumulated other comprehensive (income) loss into net periodic benefit cost (income) in 2019 is $2.1 million.

The following table provides the components of net periodic benefit cost for the plans for 2018, 2017 and 2016:

(Dollars in millions)	2018			2017			2016
Service cost	$	–			–			–
Interest cost		3.4			3.2			3.9
Expected return on plan assets		(3.8	)		(3.9	)		(4.4	)
Net actuarial loss		2.3			2.6			2.0
Net periodic benefit cost		1.9			1.9			1.5
Defined contribution plans		7.1			6.3			5.2
Total	$	9.0			8.2			6.7

The discount rate used in measuring the Company’s pension obligations was developed by matching yields of actual high-quality corporate bonds to expected future pension plan cash flows (benefit payments). Over 400 Aa-rated, non-callable bonds with a wide range of maturities were used in the analysis. After using the bond yields to determine the present value of the plan cash flows, a single representative rate that resulted in the same present value was developed. The expected long-term rate of return on plan assets assumption was determined by reviewing the actual investment return of the plans since inception and evaluating those returns in relation to expectations of various investment organizations to determine whether long-term future returns are expected to differ significantly from the past.

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

	2018			2017			2016
Discount rate		3.65	%		3.25	%		4.25	%
Rate of increase in compensation levels		N/A			N/A			N/A
Expected long-term rate of return on assets		6.00	%		6.25	%		6.75	%

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

	2018			2017
Discount rate		4.15	%		3.65	%
Rate of increase in compensation levels		N/A			N/A

The assumed rate of increase in compensation levels is not applicable in 2018, 2017 and 2016 as the plan was frozen in earlier years.

The asset allocation for the Company’s pension plans at the end of 2018 and 2017, and the Company’s acceptable range and the target allocation for 2019, by asset category, are as follows:

	Target Allocation			Acceptable			Percentage of Plan Assets at Year-end
Asset Category	2019			Range			2018			2017
Return seeking		37	%		39%-47	%		44	%		62	%
Liability hedging		63	%		53%-61	%		54	%		35	%
Cash/cash equivalents		–			0%-5	%		2	%		3	%

The Company’s pension plan assets are managed by outside investment managers and assets are rebalanced when the target ranges are exceeded. Pension plan assets consist principally of funds which invest in marketable securities including common stocks, bonds, and interest-bearing deposits. The Company’s investment strategy with respect to pension assets is to achieve a total rate of return (income and capital appreciation) that is sufficient to accomplish the purpose of providing retirement benefits to all eligible and future retirees of the pension plan. The Company regularly monitors performance and compliance with investment guidelines.

Fair Value of Financial Measurements

The fair values of the Company’s defined benefit plan investments as of September 30, 2018 and 2017, by asset category, were as follows:

(Dollars in millions)	2018		2017
Investments at fair value:
Cash and cash equivalents	$	2.1		1.9
Common and preferred stock funds:
Domestic large capitalization		8.7		10.6
Domestic small-/mid-capitalization		2.7		3.3
International funds		10.8		14.3
Fixed income funds		45.6		30.7
Real estate investment funds		3.4		4.2
Total investments at fair value	$	73.3		65.0

The following methods were used to estimate the fair value of each class of financial instrument:

Cash and cash equivalents

The carrying value of cash represents fair value as it consists of actual currency.

Investment Funds

The fair value of the investment funds, which offer daily redemptions, is determined based on the published net asset value of the funds as a practical expedient for fair value.

Expected Cash Flows

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

(Dollars in millions)	Pension Benefits		Other Benefits
Expected Employer Contributions — 2019	$	1.0		0.1
Expected Benefit Payments:
2019		5.1		0.1
2020		5.8		0.1
2021		5.5		0.1
2022		5.7		0.1
2023		5.8		0.1
2024-2028	$	30.0		0.2

Derivative Financial Instruments

12 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS

12.

Derivative Financial Instruments

Market risks relating to the Company’s operations result primarily from changes in interest rates and changes in foreign currency exchange rates. The Company is exposed to market risk related to changes in interest rates and selectively uses derivative financial instruments, including forward contracts and swaps, to manage these risks. During 2016, the Company entered into forward contracts to purchase pounds sterling (GBP) to hedge two deferred payments due in connection with the acquisition of Plastique. During 2018, the Company entered into three interest rate swaps with a notional amount of $150 million to hedge its exposure to variability in future LIBOR-based interest payments on variable rate debt. In addition, the Company’s Canadian subsidiary Morgan Schaffer enters into foreign exchange contracts to manage foreign currency risk as a portion of their revenue is denominated in U.S. dollars. The Company expects hedging gains or losses to be essentially offset by losses or gains on the related underlying exposures. The amounts ultimately recognized may differ for open positions, which remain subject to ongoing market price fluctuations until settlement. All derivative instruments are reported in either accrued expenses or other assets on the balance sheet at fair value. For derivative instruments designated as cash flow hedges, the gain or loss on the derivative is deferred in accumulated other comprehensive income until recognized in earnings with the underlying hedged item. The interest rate swaps entered into during 2018 were not designated as cash flow hedges and, therefore, the gain or loss on the derivative is reflected in earnings each period. The following is a summary of the notional transaction amounts and fair values for the Company’s outstanding derivative financial instruments as of September 30, 2018.

(In thousands)	Notional Amount (Currency)	Fair Value (US$)			Float Rate			Fix Rate
Forward contracts	700 GBP		(94	)
Forward contracts	9,500 USD		(17	)
Forward contracts	200 EUR		6
Interest rate swap	150,000 USD		94			2.18	%		1.80	%
Interest rate swap *	150,000 USD		913			N/A			2.09	%
Interest rate swap **	150,000 USD		1,235			N/A			2.24	%

* This swap represents a forward contract and will be effective in November 2018.

** This swap represents a forward contract and will be effective in November 2019.

Fair Value of Financial Instruments

The Company’s forward contracts are classified within Level 2 of the valuation hierarchy in accordance with FASB Accounting Standards Codification (ASC) 825, as presented below as of September 30, 2018:

(In thousands)

Level 1

Level 2

Level 3

Total

Asset:

Forward contracts

–

2,137

–

2,137

Valuation was based on third party evidence of similarly priced derivative instruments. There are no master netting arrangements with financial parties.

Business Segment Information

12 Months Ended

Sep. 30, 2018

Segment Reporting, Measurement Disclosures [Abstract]

BUSINESS SEGMENT INFORMATION

13.

Business Segment Information

The Company is organized based on the products and services it offers, and classifies its business operations in segments for financial reporting purposes. Currently, the Company has four reporting segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test), Utility Solutions Group (USG) and Technical Packaging.

The Filtration segment’s operations consist of PTI Technologies Inc. (PTI), VACCO Industries (VACCO), Crissair, Inc. (Crissair), Mayday Manufacturing Co. (Mayday), Hi-Tech Metals, Inc. (Hi-Tech) and Westland Technologies, Inc. (Westland). PTI, VACCO and Crissair design and manufacture specialty filtration products, including hydraulic filter elements and fluid control devices used in commercial aerospace applications, unique filter mechanisms used in micro-propulsion devices for satellites and custom designed filters for manned aircraft and submarines. Mayday designs and manufactures mission-critical bushings, pins, sleeves and precision-tolerance machined components for landing gear, rotor heads, engine mounts, flight controls, and actuation systems for the aerospace and defense industries. Hi-Tech is a full-service metal processor offering aerospace OEM’s and Tier 1 suppliers, a large portfolio of processing services including anodizing, cadmium and zinc-nickel plating, organic coatings, non-destructive testing, and heat treatment. Westland designs, develops and manufactures elastomeric-based signature reduction solutions for U.S. naval vessels.

The Test segment’s operations consist of ETS-Lindgren Inc. and related subsidiaries (ETS-Lindgren). ETS-Lindgren is an industry leader in providing its customers with the ability to identify, measure and contain magnetic, electromagnetic and acoustic energy. ETS-Lindgren also manufactures radio frequency shielding products and components used by manufacturers of medical equipment, communications systems, electronic products, and shielded rooms for high-security data processing and secure communication.

The USG segment’s operations consist of Doble Engineering Company and related subsidiaries (Doble), Morgan Schaffer Ltd. (Morgan Schaffer), and NRG Systems, Inc. (NRG). Doble provides high-end, intelligent diagnostic test solutions for the electric power delivery industry and is a leading supplier of power factor and partial discharge testing instruments used to assess the integrity of high-voltage power delivery equipment. Morgan Schaffer provides an integrated offering of dissolved gas analysis, oil testing, and data management solutions which enhance the ability of electric utilities to accurately monitor the health of critical power transformers. NRG designs and manufactures decision support tools for the renewable energy industry, primarily wind.

The Technical Packaging segment’s operations consist of Thermoform Engineered Quality LLC (TEQ) and Plastique. The companies within this segment provide innovative solutions to the medical and commercial markets for thermoformed and precision molded pulp fiber packages and specialty products using a wide variety of thin gauge plastics and pulp.

Accounting policies of the segments are the same as those described in the summary of significant accounting policies in Note 1 to the Consolidated Financial Statements. The operating units within each reporting segment have been aggregated because of similar economic characteristics and meet the other aggregation criteria of FASB ASC 280.

The Company evaluates the performance of its operating units based on EBIT, which is defined as earnings before interest and taxes. EBIT on a consolidated basis is a non-GAAP financial measure; see “Non-GAAP Financial Measures” in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Intersegment sales and transfers are not significant. Segment assets consist primarily of customer receivables, inventories, capitalized software and fixed assets directly associated with the production processes of the segment. Segment depreciation and amortization is based upon the direct assets listed above.

Net Sales

(Dollars in millions)
Year ended September 30,	2018		2017		2016
Filtration	$	286.8		279.5		207.8
Test		182.9		160.9		161.5
USG		214.0		162.4		127.8
Technical Packaging		87.9		82.9		74.4
Consolidated totals	$	771.6		685.7		571.5

No customer exceeded 10% of sales in 2018 or 2017.

EBIT

(Dollars in millions)
Year ended September 30,	2018			2017			2016
Filtration	$	58.7			52.2			45.2
Test		23.8			19.5			13.9
USG		43.2			36.6			31.1
Technical Packaging		8.1			8.5			9.6
Reconciliation to consolidated totals (Corporate)		(37.0	)		(32.1	)		(30.1	)
Consolidated EBIT		96.8			84.7			69.7
Less: interest expense		(8.8	)		(4.6	)		(1.3	)
Earnings before income tax	$	88.0			80.1			68.4

Identifiable Assets

(Dollars in millions)
Year ended September 30,	2018		2017
Filtration	$	204.7		194.2
Test		138.3		132.2
USG		176.9		175.5
Technical Packaging		50.9		47.1
Corporate – Goodwill		381.7		377.9
Corporate – Other assets		312.6		333.5
Consolidated totals	$	1,265.1		1,260.4

Corporate assets consist primarily of goodwill, deferred taxes, acquired intangible assets and cash balances.

Capital Expenditures

(Dollars in millions)
Year ended September 30,	2018		2017		2016
Filtration	$	7.0		10.2		3.3
Test		3.0		4.5		3.3
USG		5.2		7.6		3.3
Technical Packaging		5.4		7.4		3.9
Corporate		–		–		–
Consolidated totals	$	20.6		29.7		13.8

In addition to the above amounts, the Company incurred expenditures for capitalized software of $9.5 million, $9.0 million and $8.7 million in 2018, 2017 and 2016, respectively.

Depreciation and Amortization

(Dollars in millions)
Year ended September 30,	2018		2017		2016
Filtration	$	7.6		6.6		4.0
Test		4.5		3.6		3.6
USG		11.0		9.8		8.1
Technical Packaging		4.1		3.5		2.9
Corporate		10.6		8.7		5.0
Consolidated totals	$	37.8		32.2		23.6

Depreciation expense of property, plant and equipment was $19.4 million, $15.9 million and $11.9 million for 2018, 2017 and 2016, respectively.

Geographic Information

Net Sales

(Dollars in millions)
Year ended September 30,	2018		2017		2016
United States	$	536.7		503.1		403.6
Asia		94.5		69.8		68.1
Europe		85.0		75.4		71.6
Canada		30.3		22.2		12.9
India		9.4		4.8		2.9
Other		15.7		10.4		12.4
Consolidated totals	$	771.6		685.7		571.5

Long-Lived Assets

(Dollars in millions)
Year ended September 30,	2018		2017
United States	$	113.2		111.5
Europe		17.1		16.8
Other		4.7		4.4
Consolidated totals	$	135.0		132.7

Net sales are attributed to countries based on location of customer. Long-lived assets are attributed to countries based on location of the asset.

Commitments and Contingencies

12 Months Ended

Sep. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments And Contingencies

14.

Commitments and Contingencies

The Company leases certain real property, equipment and machinery under non-cancelable operating leases. Rental expense under these operating leases was $6.9 million, $6.8 million and $6.0 million for 2018, 2017 and 2016, respectively. Future aggregate minimum lease payments under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of September 30, 2018, are:

(Dollars in thousands)
Years ending September 30:
2019	$	6,702
2020		5,428
2021		3,540
2022		2,822
2023 and thereafter		3,467
Total	$	21,959

At September 30, 2018, the Company had $7.8 million in letters of credit outstanding as guarantees of contract performance. As a normal incident of the businesses in which the Company is engaged, various claims, charges and litigation are asserted or commenced from time to time against the Company. Additionally, the Company is currently involved in various stages of investigation and remediation relating to environmental matters. It is the opinion of Management that the aggregate costs involved in the resolution of these matters, and final judgments, if any, which might be rendered against the Company are adequately accrued, are covered by insurance or are not likely to have a material adverse effect on the Company’s results from continuing operations, capital expenditures or competitive position.

Capital Leases

12 Months Ended

Sep. 30, 2018

Leases, Capital [Abstract]

Capital Leases in Financial Statements of Lessee Disclosure

15.

Capital Leases

The Company leases certain real property, equipment and machinery under capital leases, primarily associated with the 2017 acquisitions of NRG and Mayday. The facility leases expire in 2029 and the machinery leases expire in 2020. As of September 30, 2018, the net carrying value and accumulated depreciation of the assets under capital leases recorded by the Company were $14.9 million and $2.0 million, respectively. Capital lease obligations are included within other long-term liabilities (long-term portion) and accrued other expenses (current portion). Remaining payments due on the Company’s capital lease obligations as of September 30, 2018, are:

(Dollars in thousands)
Years ending September 30:
2019	$	1,922
2020		1,917
2021		1,859
2022		1,900
2023 and thereafter		14,077
Total minimum lease payments		21,675
Less: amounts representing interest		3,514
Present value of net minimum lease payments		18,161
Current portion of capital lease obligations		1,346
Non-current portion of capital lease obligations	$	16,815

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Principles Of Consolidation

A. Principles of Consolidation

Basis Of Presentation

B. Basis of Presentation

Nature Of Operations

C. Nature of Operations

Filtration:

Test:

ETS-Lindgren Inc. provides its customers with the ability to identify, measure and contain magnetic, electromagnetic and acoustic energy.

USG:

Technical Packaging:

Use Of Estimates

D. Use of Estimates

Revenue Recognition

E. Revenue Recognition

Filtration:

Test:

USG

Technical Packaging:

See the further discussion of the Company’s revenue recognition in Note 1.W, below.

Cash And Cash Equivalents

F. Cash and Cash Equivalents

Cash equivalents include temporary investments that are readily convertible into cash, such as money market funds, with original maturities of three months or less.

Accounts Receivable

G. Accounts Receivable

Costs And Estimated Earnings On Long-Term Contracts

H. Costs and Estimated Earnings on Long-Term Contracts

Costs and estimated earnings on long-term contracts represent unbilled revenues, including accrued profits, accounted for under the percentage-of-completion method, net of progress billings.

Inventories

I. Inventories

Property, Plant And Equipment

J. Property, Plant and Equipment

Leases

K. Leases

Lease agreements are evaluated to determine whether they are capital or operating leases in accordance with ASC 840,

Leases

Goodwill And Other Long-Lived Assets

L. Goodwill and Other Long-Lived Assets

Capitalized Software

M. Capitalized Software

Income Taxes

N. Income Taxes

Research And Development Costs

Research and Development Costs

Foreign Currency Translation

The financial statements of the Company’s foreign operations are translated into U.S. dollars in accordance with FASB ASC Topic 830,

Foreign Currency Matters

. The resulting translation adjustments are recorded as a separate component of accumulated other comprehensive income.

Earnings Per Share

The number of shares used in the calculation of earnings per share for each year presented is as follows:

(in thousands)	2018		2017		2016
Weighted Average Shares Outstanding — Basic		25,874		25,774		25,762
Performance- Accelerated Restricted Stock		184		221		206
Shares — Diluted		26,058		25,995		25,968

Share-Based Compensation

Accumulated Other Comprehensive Loss

Deferred Revenue And Costs

Deferred Revenue and Costs

Derivative Financial Instruments

Fair Value of Financial Measurements

Fair Value Measurements

Level 1 – Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 3 – Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

Financial Assets and Liabilities

Nonfinancial Assets and Liabilities

New Accounting Standards

Revenue Recognition

In May 2014, the FASB issued ASU No. 2014-09,

Revenue from Contracts with Customers

Other Standards

In January 2018, the FASB issued ASU No. 2018-02,

Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

In March 2017, the FASB issued ASU 2017-07,

Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost

, which updates ASC 715,

Compensation – Retirement Benefits

In August 2017, the FASB issued ASU 2017-12,

Targeted Improvements to Accounting for Hedge Activities

, which updates ASC 815,

Derivatives and Hedging

In January 2017, the FASB issued Accounting Standards Update (ASU) No. 2017-04,

Simplifying the Test for Goodwill Impairment

In March 2016, the FASB issued ASU No. 2016-09,

Improvements to Employee Share-Based Payment Accounting

In February 2016, the FASB issued ASU No. 2016-062,

Leases (Topic 842)

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Sep. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

Included on the Company’s Consolidated Balance Sheets at September 30, 2018 and 2017 are the following intangible assets gross carrying amounts and accumulated amortization:

(Dollars in millions)	2018		2017
Goodwill	$	381.7		377.9

Intangible assets with determinable lives:
Patents
Gross carrying amount	$	1.8		1.0
Less: accumulated amortization		0.8		0.8
Net	$	1.0		0.2

Capitalized software
Gross carrying amount	$	71.3		63.0
Less: accumulated amortization		41.6		34.4
Net	$	29.7		28.6

Customer Relationships
Gross carrying amount	$	185.3		181.9
Less: accumulated amortization		47.8		37.4
Net	$	137.5		144.5

Other
Gross carrying amount	$	5.5		5.4
Less: accumulated amortization		2.0		1.4
Net	$	3.5		4.0
Intangible assets with indefinite lives:
Trade names	$	173.7		173.8

Schedule of Goodwill

The changes in the carrying amount of goodwill attributable to each business segment for 2018 and 2017 are as follows:

(Dollars in millions)	Filtration		Test		USG		Technical Packaging			Total
Balance as of September 30, 2016	$	43.9		34.1		226.2		19.4			323.6
Acquisition activity		29.8		–		23.6		–			53.4
Foreign currency translation and other		–		–		0.4		0.5			0.9
Balance as of September 30, 2017		73.7		34.1		250.2		19.9			377.9
Acquisition activity		–		–		3.9		–			3.9
Foreign currency translation and other		–		–		–		(0.1	)		(0.1	)
Balance as of September 30, 2018	$	73.7		34.1		254.1		19.8			381.7

Income Tax Expense (Tables)

12 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

Components Of Income From Continuing Operations Before Income Taxes

The components of income before income taxes for 2018, 2017 and 2016 consisted of the following:

(Dollars in thousands)	2018		2017		2016
United States	$	80,994		72,353		62,353
Foreign		7,029		7,800		6,067
Total income before income taxes	$	88,023		80,153		68,420

Principal Components Of Income Tax Expense (Benefit) From Continuing Operations

The principal components of income tax expense (benefit) for 2018, 2017 and 2016 consist of:

(Dollars in thousands)	2018			2017			2016
Federal:
Current	$	9,174			21,448			19,236
Deferred		(22,943	)		628			(909	)
State and local:
Current		2,121			1,795			1,674
Deferred		2,972			(49	)		(222	)
Foreign:
Current		2,233			4,450			1,899
Deferred		2,330			(1,822	)		860
Total	$	(4,113	)		26,450			22,538

Schedule Of Actual Income Tax Expense (Benefit) From Continuing Operations

The actual income tax expense (benefit) for 2018, 2017 and 2016 differs from the expected tax expense for those years (computed by applying the U.S. Federal corporate statutory rate) as follows:

	2018			2017			2016
Federal corporate statutory rate		24.5	%		35.0	%		35.0	%
State and local, net of Federal benefits		3.0			2.4			2.0
Foreign		0.6			(0.1	)		(1.0	)
Research credit		(1.6	)		(1.1	)		(2.5	)
Domestic production deduction		(1.1	)		(2.7	)		(2.8	)
Change in uncertain tax positions		(0.1	)		–			–
Executive compensation		(0.1	)		(0.1	)		0.9
Valuation allowance		3.0			(0.3	)		1.8
Tax reform – impact on U.S. deferred tax assets and liabilities		(37.2	)		–			–
Tax reform – transition tax		1.5			–			–
Tax reform – taxes related to foreign unremitted earnings		2.8			–			–
Other, net		–			(0.1	)		(0.5	)
Effective income tax rate		(4.7	)%		33.0	%		32.9	%

Tax Effects Of Temporary Differences That Give Rise To Significant Portions Of The Deferred Tax Assets And Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at September 30, 2018 and 2017 are presented below:

(Dollars in thousands)	2018			2017
Deferred tax assets:
Inventories	$	5,834			9,639
Pension and other postretirement benefits		3,969			11,345
Net operating and capital loss carryforwards — domestic		639			501
Net operating loss carryforward — foreign		4,603			4,486
Foreign tax credit carryforward		2,377			–
Other compensation-related costs and other cost accruals		7,048			12,104
State credit carryforward		2,103			2,098
Total deferred tax assets		26,573			40,173

Deferred tax liabilities:
Goodwill		(969	)		(4,874	)
Acquisition assets		(62,841	)		(91,752	)
Depreciation, software amortization		(19,584	)		(24,092	)
Net deferred tax liabilities before valuation allowance		(56,821	)		(80,545	)
Less valuation allowance		(7,144	)		(4,440	)
Net deferred tax liabilities	$	(63,965	)		(84,985	)

Retirement and Other Benefit Plans (Tables)

12 Months Ended

Sep. 30, 2018

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	2018			2017
Net benefit obligation at beginning of year	$	95.3			100.6
Interest cost		3.4			3.2
Actuarial (gain) loss		(4.3	)		(4.1	)
Gross benefits paid		(4.6	)		(4.4	)
Settlements		–			–
Net benefit obligation at end of year	$	89.8			95.3

Schedule Of Reconciliation Of Fair Value Of Plan Assets

(Dollars in millions)
Reconciliation of fair value of plan assets	2018			2017
Fair value of plan assets at beginning of year	$	65.0			60.6
Actual return on plan assets		2.7			5.9
Employer contributions		10.2			2.9
Gross benefits paid		(4.6	)		(4.4	)
Settlements		–			–
Fair value of plan assets at end of year	$	73.3			65.0

Schedule Of Funded Status

(Dollars in millions)
Funded Status	2018			2017
Funded status at end of year	$	(16.5	)		(30.3	)
Accrued benefit cost		(16.5	)		(30.3	)

Amounts recognized in the Balance Sheet consist of:
Current liability		(0.2	)		(0.2	)
Noncurrent liability		(16.3	)		(30.1	)
Accumulated other comprehensive (income)/loss (before tax effect)		41.9			47.4

Amounts recognized in accumulated other comprehensive (income)/loss consist of:
Net actuarial loss		41.9			47.4

Accumulated other comprehensive (income)/loss (before tax effect)	$	41.9			47.4

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 2018, 2017 and 2016:

(Dollars in millions)	2018			2017			2016
Service cost	$	–			–			–
Interest cost		3.4			3.2			3.9
Expected return on plan assets		(3.8	)		(3.9	)		(4.4	)
Net actuarial loss		2.3			2.6			2.0
Net periodic benefit cost		1.9			1.9			1.5
Defined contribution plans		7.1			6.3			5.2
Total	$	9.0			8.2			6.7

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 2018 and 2017, and the Company’s acceptable range and the target allocation for 2019, by asset category, are as follows:

	Target Allocation			Acceptable			Percentage of Plan Assets at Year-end
Asset Category	2019			Range			2018			2017
Return seeking		37	%		39%-47	%		44	%		62	%
Liability hedging		63	%		53%-61	%		54	%		35	%
Cash/cash equivalents		–			0%-5	%		2	%		3	%

Schedule Of Fair Value Of Financial Measurements

The fair values of the Company’s defined benefit plan investments as of September 30, 2018 and 2017, by asset category, were as follows:

(Dollars in millions)	2018		2017
Investments at fair value:
Cash and cash equivalents	$	2.1		1.9
Common and preferred stock funds:
Domestic large capitalization		8.7		10.6
Domestic small-/mid-capitalization		2.7		3.3
International funds		10.8		14.3
Fixed income funds		45.6		30.7
Real estate investment funds		3.4		4.2
Total investments at fair value	$	73.3		65.0

Schedule Of Expected Benefit Payments

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

(Dollars in millions)	Pension Benefits		Other Benefits
Expected Employer Contributions — 2019	$	1.0		0.1
Expected Benefit Payments:
2019		5.1		0.1
2020		5.8		0.1
2021		5.5		0.1
2022		5.7		0.1
2023		5.8		0.1
2024-2028	$	30.0		0.2

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 cost for the pension plans:

	2018			2017			2016
Discount rate		3.65	%		3.25	%		4.25	%
Rate of increase in compensation levels		N/A			N/A			N/A
Expected long-term rate of return on assets		6.00	%		6.25	%		6.75	%

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 obligations for the pension plans:

	2018			2017
Discount rate		4.15	%		3.65	%
Rate of increase in compensation levels		N/A			N/A

Derivative Financial Instruments (Tables)

12 Months Ended

Sep. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Derivative Financial Instruments

The following is a summary of the notional transaction amounts and fair values for the Company’s outstanding derivative financial instruments as of September 30, 2018.

(In thousands)	Notional Amount (Currency)	Fair Value (US$)			Float Rate			Fix Rate
Forward contracts	700 GBP		(94	)
Forward contracts	9,500 USD		(17	)
Forward contracts	200 EUR		6
Interest rate swap	150,000 USD		94			2.18	%		1.80	%
Interest rate swap *	150,000 USD		913			N/A			2.09	%
Interest rate swap **	150,000 USD		1,235			N/A			2.24	%

* This swap represents a forward contract and will be effective in November 2018.

** This swap represents a forward contract and will be effective in November 2019.

Schedule of Fair Value of Financial Instruments

(In thousands)

Level 1

Level 2

Level 3

Total

Asset:

Forward contracts

–

2,137

–

2,137

Business Segment Information (Tables)

12 Months Ended

Sep. 30, 2018

Segment Reporting, Measurement Disclosures [Abstract]

Schedule Of Net Sales And Earnings Before Income Tax

Net Sales

(Dollars in millions)
Year ended September 30,	2018		2017		2016
Filtration	$	286.8		279.5		207.8
Test		182.9		160.9		161.5
USG		214.0		162.4		127.8
Technical Packaging		87.9		82.9		74.4
Consolidated totals	$	771.6		685.7		571.5

No customer exceeded 10% of sales in 2018 or 2017.

EBIT

(Dollars in millions)
Year ended September 30,	2018			2017			2016
Filtration	$	58.7			52.2			45.2
Test		23.8			19.5			13.9
USG		43.2			36.6			31.1
Technical Packaging		8.1			8.5			9.6
Reconciliation to consolidated totals (Corporate)		(37.0	)		(32.1	)		(30.1	)
Consolidated EBIT		96.8			84.7			69.7
Less: interest expense		(8.8	)		(4.6	)		(1.3	)
Earnings before income tax	$	88.0			80.1			68.4

Schedule of Identifiable Assets

Identifiable Assets

(Dollars in millions)
Year ended September 30,	2018		2017
Filtration	$	204.7		194.2
Test		138.3		132.2
USG		176.9		175.5
Technical Packaging		50.9		47.1
Corporate – Goodwill		381.7		377.9
Corporate – Other assets		312.6		333.5
Consolidated totals	$	1,265.1		1,260.4

Schedule Of Capital Expenditures

Capital Expenditures

(Dollars in millions)
Year ended September 30,	2018		2017		2016
Filtration	$	7.0		10.2		3.3
Test		3.0		4.5		3.3
USG		5.2		7.6		3.3
Technical Packaging		5.4		7.4		3.9
Corporate		–		–		–
Consolidated totals	$	20.6		29.7		13.8

Schedule Of Depreciation And Amortization

Depreciation and Amortization

(Dollars in millions)
Year ended September 30,	2018		2017		2016
Filtration	$	7.6		6.6		4.0
Test		4.5		3.6		3.6
USG		11.0		9.8		8.1
Technical Packaging		4.1		3.5		2.9
Corporate		10.6		8.7		5.0
Consolidated totals	$	37.8		32.2		23.6

Schedule Of Geographic Information Net Sale

Geographic Information

Net Sales

(Dollars in millions)
Year ended September 30,	2018		2017		2016
United States	$	536.7		503.1		403.6
Asia		94.5		69.8		68.1
Europe		85.0		75.4		71.6
Canada		30.3		22.2		12.9
India		9.4		4.8		2.9
Other		15.7		10.4		12.4
Consolidated totals	$	771.6		685.7		571.5

Schedule Of Geographic Information Long-Lived Assets

Long-Lived Assets

(Dollars in millions)
Year ended September 30,	2018		2017
United States	$	113.2		111.5
Europe		17.1		16.8
Other		4.7		4.4
Consolidated totals	$	135.0		132.7

Summary of Significant Accounting Policies (Number Of Shares Used In Calculation Of Earnings Per Share) (Details) - shares shares in Thousands	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Weighted Average Shares Outstanding — Basic	25,874	25,774	25,762
Performance- Accelerated Restricted Stock	184	221	206
Shares — Diluted	26,058	25,995	25,968

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Jun. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (31,528)		$ (31,528)	$ (27,308)
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax	(30,900)		(30,900)	(28,900)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	(500)		(500)	1,700
Research and Development Expense			13,100	14,000	$ 12,200
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	6,300		6,261
Contract Assets [Member]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	35,000		35,000
Inventory [Member]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	30,000		30,000
Retained Earnings [Member]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	5,000		5,000
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			6,261
Maintenance [Member]
Cost of Goods and Services Sold			13,100	$ 10,400	$ 8,200
Accounting Standards Update 2016-09 [Member]
Effective Income Tax Rate Reconciliation, Deduction, Other, Percent		5.10%		1.10%
Foreign Exchange Forward [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (100)		$ (100)	$ (100)
Maximum [Member] \| Building [Member]
Property, Plant and Equipment, Useful Life			40 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment, Useful Life			10 years
Maximum [Member] \| Office Furniture And Equipment [Member]
Property, Plant and Equipment, Useful Life			10 years
Minimum [Member] \| Building [Member]
Property, Plant and Equipment, Useful Life			10 years
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment, Useful Life			3 years
Minimum [Member] \| Office Furniture And Equipment [Member]
Property, Plant and Equipment, Useful Life			3 years
Usg [Member]
Percentage of segment revenues recognized when services are performed for unaffiliated customers or when products are delivered			75.00%
Percentage of consolidated revenues recognized when services are performed for unaffiliated customers or when products are delivered			21.00%
Percentage Of Segment Revenues Recognized On Straight Line Basis			17.00%
Percentage Of Consolidated Revenues Recognized On Straight Line Basis			5.00%
Filtration [Member]
Percentage of segment revenues recognized when services are performed for unaffiliated customers or when products are delivered			85.00%
Percentage of consolidated revenues recognized when services are performed for unaffiliated customers or when products are delivered			31.00%
Percentage of segment revenues recorded under percentage of completion method			15.00%
Percentage of consolidated revenues recorded under percentage of completion method			6.00%
Test [Member]
Percentage of segment revenues recognized when services are performed for unaffiliated customers or when products are delivered			25.00%
Percentage of consolidated revenues recognized when services are performed for unaffiliated customers or when products are delivered			6.00%
Percentage of segment revenues recorded under percentage of completion method			75.00%
Percentage of consolidated revenues recorded under percentage of completion method			18.00%
Technical Packaging [Member]
Percentage of segment revenues recognized when services are performed for unaffiliated customers or when products are delivered			100.00%
Percentage of consolidated revenues recognized when services are performed for unaffiliated customers or when products are delivered			11.00%
Software Contract [Member]
Percentage of segment revenues recognized when services are performed for unaffiliated customers or when products are delivered			8.00%
Percentage of consolidated revenues recognized when services are performed for unaffiliated customers or when products are delivered			2.00%

Acquisitions (Narrative) (Details) $ in Thousands			1 Months Ended						3 Months Ended								12 Months Ended
Acquisitions (Narrative) (Details) $ in Thousands	Mar. 14, 2018 USD ($)	May 08, 2017 USD ($)	Aug. 30, 2017 USD ($)	May 25, 2017 USD ($)	Nov. 07, 2016 USD ($) a	Sep. 02, 2016 USD ($)	Jan. 29, 2016 USD ($)	Oct. 16, 2015 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		$ 38,600			$ 75,000												$ 11,445	$ 198,628	$ 82,062
Payments to Acquire Businesses, Gross			$ 36,000	$ 48,800		$ 41,000	$ 31,600	$ 10,500
Goodwill	$ 3,500	7,500	10,700	4,800	30,100		10,200		$ 381,652				$ 377,879				381,652	377,879	323,600
Business Combination, Contingent Consideration, Liability							2,700
Revenues	8,000	45,000	14,000	25,000	40,000	25,000	35,000		$ 231,086	$ 192,223	$ 174,778	$ 173,495	$ 207,005	$ 171,189	$ 161,178	$ 146,368	$ 771,582	$ 685,740	$ 571,459
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					4,800	28,300
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Buildings			18,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		17,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	200	9,400	300	1,700	16,600	4,600	9,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities					$ 15,700
Area of Land \| a					130,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables		4,100	1,800	2,500	$ 7,400
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	1,100	5,100	2,100	5,200	11,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Capital Lease Obligation		8,900			2,800
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets		400		400	9,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	400	4,300	200	4,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets	1,200	8,100	$ 3,200	35,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		$ 1,500
Customer Relationships [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill					$ 32,800
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life					20 years
Fremont Plastics, Inc [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Buildings								$ 2,000
Plastique Group Limited [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill							$ 11,900
Westland Technologies, Inc [Member]
Business Acquisition [Line Items]
Goodwill						17,300
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities						$ 9,500
Mayday Manufacturing Co [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets					$ 300
Morgan Schaffer Inc [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles				$ 3,600
Morgan Schaffer Inc [Member] \| Customer Relationships and Developed Technology [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life				10 years
NRG Systems Inc [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		14 years
Vanguard Instruments Company [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			15 years
Manta Test Systems Inc [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	9,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Buildings	3,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables	$ 400
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	13 years

Goodwill and Other Intangible Assets (Schedule Of Intangible Assets Gross Carrying Amounts And Accumulated Amortization) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Mar. 14, 2018	Sep. 30, 2017	Aug. 30, 2017	May 25, 2017	May 08, 2017	Nov. 07, 2016	Sep. 30, 2016	Jan. 29, 2016
Goodwill and Other Intangible Assets [Line Items]
Goodwill	$ 381,652	$ 3,500	$ 377,879	$ 10,700	$ 4,800	$ 7,500	$ 30,100	$ 323,600	$ 10,200
Patents [Member]
Goodwill and Other Intangible Assets [Line Items]
Gross carrying amount	1,800		1,000
Less: accumulated amortization	800		800
Net	1,000		200
Capitalized Software [Member]
Goodwill and Other Intangible Assets [Line Items]
Gross carrying amount	71,300		63,000
Less: accumulated amortization	41,600		34,400
Net	29,700		28,600
Customer relationships [Member]
Goodwill and Other Intangible Assets [Line Items]
Gross carrying amount	185,300		181,900
Less: accumulated amortization	47,800		37,400
Net	137,500		144,500
Other [Member]
Goodwill and Other Intangible Assets [Line Items]
Gross carrying amount	5,500		5,400
Less: accumulated amortization	2,000		1,400
Net	3,500		4,000
Trade names [Member]
Goodwill and Other Intangible Assets [Line Items]
Trade names	$ 173,700		$ 173,800

Goodwill and Other Intangible Assets (Schedule Of Changes In The Carrying Amount Of Goodwill Attributable To Business Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 377,879	$ 323,600
Acquisition activity	3,900	53,400
Foreign currency translation and other	(100)	900
Goodwill, Ending Balance	381,652	377,879
Filtration [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	73,700	43,900
Acquisition activity	0	29,800
Foreign currency translation and other	0	0
Goodwill, Ending Balance	73,700	73,700
Test [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	34,100	34,100
Acquisition activity	0	0
Foreign currency translation and other	0	0
Goodwill, Ending Balance	34,100	34,100
Utility Solutions [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	250,200	226,200
Acquisition activity	3,900	23,600
Foreign currency translation and other	0	400
Goodwill, Ending Balance	254,100	250,200
Technical Packaging [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	19,900	19,400
Acquisition activity	0	0
Foreign currency translation and other	(100)	500
Goodwill, Ending Balance	$ 19,800	$ 19,900

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Finite-Lived Intangible Assets [Line Items]
Amortization expense related to intangible assets	$ 18,328	$ 16,338	$ 11,630
Estimated intangible asset amortization for 2021	$ 19,000
Customer Relationships [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Expected remaining useful life	20 years
Customer Relationships [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Expected remaining useful life	15 years
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Expected remaining useful life	17 years
Capitalized Software [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Expected remaining useful life	7 years
Capitalized Software [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Expected remaining useful life	3 years

Accounts Receivable (Schedule Of Accounts Receivable Net Of Allowance For Doubtful Accounts) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, Total	$ 163,740	$ 160,580
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, Total	146,049	152,265
U.S. Government and prime contractors [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, Total	$ 17,691	$ 8,315

Inventories, Net (Schedule Of Inventories) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017
Inventory [Line Items]
Finished goods	$ 26,678	$ 28,127
Work in process	47,765	43,750
Raw materials	60,973	52,638
Total	$ 135,416	$ 124,515

Income Tax Expense (Components Of Income From Continuing Operations Before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
United States	$ 80,994	$ 72,353	$ 62,353
Foreign	7,029	7,800	6,067
Total income before income taxes	$ 88,023	$ 80,153	$ 68,420

Income Tax Expense (Principal Components Of Income Tax Expense (Benefit) From Continuing Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Federal, Current	$ 9,174	$ 21,448	$ 19,236
Federal, Deferred	(22,943)	628	(909)
State and local, Current	2,121	1,795	1,674
State and local, Deferred	2,972	(49)	(222)
Foreign, Current	2,233	4,450	1,899
Foreign, Deferred	2,330	(1,822)	860
Total	$ (4,113)	$ 26,450	$ 22,538

Income Tax Expense (Schedule Of Actual Income Tax Expense (Benefit) From Continuing Operations) (Details)	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Sep. 30, 2016
Federal corporate statutory rate	24.50%	35.00%	35.00%	35.00%
State and local, net of Federal benefits	3.00%		2.40%	2.00%
Foreign	0.60%		(0.10%)	(1.00%)
Research credit	(1.60%)		(1.10%)	(2.50%)
Domestic production deduction	(1.10%)		(2.70%)	(2.80%)
Change in uncertain tax positions	(0.10%)		0.00%	0.00%
Executive compensation	(0.10%)		(0.10%)	0.90%
Valuation allowance	3.00%		(0.30%)	1.80%
Tax reform – impact on U.S. deferred tax assets and liabilities	(37.20%)		0.00%	0.00%
Tax reform – transition tax	1.50%		0.00%	0.00%
Tax reform – taxes related to foreign unremitted earnings	2.80%		0.00%	0.00%
Other, net	0.00%		(0.10%)	(0.50%)
Effective income tax rate	(4.70%)		33.00%	32.90%

Income Tax Expense (Tax Effects Of Temporary Differences That Give Rise To Significant Portions Of The Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017
Deferred tax assets:
Inventories	$ 5,834	$ 9,639
Pension and other postretirement benefits	3,969	11,345
Net operating and capital loss carryforwards — domestic	639	501
Net operating loss carryforward — foreign	4,603	4,486
Foreign tax credit carryforward	2,377	0
Other compensation-related costs and other cost accruals	7,048	12,104
State credit carryforward	2,103	2,098
Total deferred tax assets	26,573	40,173
Deferred tax liabilities:
Goodwill	(969)	(4,874)
Acquisition assets	(62,841)	(91,752)
Depreciation, software amortization	(19,584)	(24,092)
Net deferred tax liabilities before valuation allowance	(56,821)	(80,545)
Less valuation allowance	(7,144)	(4,440)
Net deferred tax liabilities	$ (63,965)	$ (84,985)

Income Tax Expense (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2018	Jun. 30, 2018	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Sep. 30, 2016
Income Tax Expense [Line Items]
Accumulated unremitted earnings of foreign subsidiaries				$ 3,500
Income taxes due if foreign entities' earnings were distributed				300
Unrecognized Tax Benefits that Would Impact Effective Tax Rate				100		$ 100
Operating Loss Carryforwards, Valuation Allowance				600		400
Net operating loss carryforward - foreign				4,603		4,486
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration				16,700
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration				2,300
Deferred Tax Assets, Operating Loss Carryforwards, State and Local				600
Deferred Tax Assets, Tax Credit Carryforwards, Research				2,100
State Research And Other Credit CarryForwards With Expiration Date				1,700
State Research And Other Credit Carry Forwards Without Expiration Date				400
Deferred Tax Assets, Valuation Allowance				7,144		4,440
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount				$ 2,700		$ 1,300
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				24.50%	35.00%	35.00%	35.00%
Effective Income Tax Reduction on Deferred tax Liabilities				$ 30,700
Effective Income Tax Benefit from Pension Contribution	$ 1,000
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 7,500			10,200		$ 2,900
Effective Income Tax Benefit from Change in Tax Accounting method		$ 1,000
Effective Income Tax Provisional Charge Transition Tax				3,700
Effective Income Taxes Foreign Withholding Taxes				2,400
Unrecognized Tax Benefits				100
Excess Foreign Tax Credits [Member]
Income Tax Expense [Line Items]
Tax Credit Carryforward, Amount				2,400
FINLAND
Income Tax Expense [Line Items]
Deferred Tax Assets, Net				200
Deferred Tax Assets, Operating Loss Carryforwards				2,200
Scenario, Forecast [Member]
Income Tax Expense [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%
Foreign Valuation Allowance [Member]
Income Tax Expense [Line Items]
Operating Loss Carryforwards, Valuation Allowance				3,800		3,700
State and Local Jurisdiction [Member]
Income Tax Expense [Line Items]
Operating Loss Carryforwards, Valuation Allowance				400		$ 400
Net operating loss carryforward - foreign				$ 19,000

Debt (Schedule Of Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017
Debt Instrument [Line Items]
Revolving credit facility, including current portion	$ 220,000	$ 275,000
Current portion of long-term debt	(20,000)	(20,000)
Total long-term debt, less current portion	$ 200,000	$ 255,000

Debt (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
Debt (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2015
Debt Instrument [Line Items]
Available to borrow under the credit facility	$ 204,000
Cash on hand	30,477	$ 45,516	$ 53,825	$ 39,411
Letters of Credit Outstanding, Amount	7,800	9,700
Maximum aggregate short-term borrowings at any month-end	271,000	298,000
Average aggregate short-term borrowings outstanding	$ 258,800	$ 211,300
Weighted average interest rates	3.03%	2.09%	1.58%
Long-term Debt, Current Maturities	$ 20,000	$ 20,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Amount Outstanding	450,000
Line of Credit Facility, Commitment Fee Amount	$ 250,000
Minimum [Member]
Debt Instrument [Line Items]
Credit facility fees	12.50%
Maximum [Member]
Debt Instrument [Line Items]
Incremental term loan	$ 250,000
Credit facility fees	27.50%

Capital Stock (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Capital Stock (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2016	Sep. 30, 2018	Sep. 30, 2017
Common shares as presented in the accompanying Consolidated Balance Sheets		30,534,786	30,468,824
Common shares in treasury		4,623,958	4,635,622
Board of Directors authorized an expanded stock repurchase program		$ 100.0
Stock repurchases during period, shares	120,000
Stock repurchased during period, value	$ 4.3

Share-Based Compensation (Schedule Of Outstanding Restricted Share Awards) (Details) - $ / shares	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding restricted share awards, Nonvested at October 1,	335,825	427,438	326,536
Outstanding restricted share awards, Granted, Shares	104,320	110,422	120,902
Outstanding restricted share awards, Vested, Shares	(121,301)	(202,035)	(8,000)
Outstanding restricted share awards, Cancelled, Shares	(3,300)	0	(12,000)
Outstanding restricted share awards, Nonvested at September 30,	315,544	335,825	427,438
Outstanding restricted share awards, Nonvested at October 1, Weighted Avg. Price	$ 40.35	$ 35.40	$ 35.29
Outstanding restricted share awards, Granted, Weighted Avg. Price	56.06	51.16	35.75
Outstanding restricted share awards, Vested, Weighted Avg. Price	35.59	35.78	36.06
Outstanding restricted share awards, Cancelled, Weighted Avg. Price	53.86	0	35.47
Outstanding restricted share awards, Nonvested at September 30, Weighted Avg. Price	$ 47.23	$ 40.35	$ 35.40

Share-Based Compensation (Narrative) (Details) - USD ($)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-employee director retainer common shares per quarter	900
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	947,377
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost	$ 180,000
Performance-Accelerated Restricted Share (PARS) Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax compensation expense	4,100,000	$ 4,400,000	$ 3,900,000
Non-Employee Directors Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total income tax benefit recognized		1,800,000	1,300,000
Total share-based compensation cost	1,300,000
Pretax compensation expense	1,100,000	1,000,000	800,000
Total unrecognized compensation cost related to share-based compensation arrangements	$ 7,800,000
Remaining weighted-average period for recognition of total unrecognized compensation cost	1 year 8 months 12 days
Non-Employee Directors Plan [Member] \| Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation cost	$ 5,200,000	$ 5,400,000	$ 4,700,000

Retirement and Other Benefit Plans (Schedule Of Reconciliation Of Benefit Obligation) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Net benefit obligation at beginning of year	$ 95.3	$ 100.6
Interest cost	3.4	3.2	$ 3.9
Actuarial (gain) loss	(4.3)	(4.1)
Gross benefits paid	(4.6)	(4.4)
Settlements	0.0	0.0
Net benefit obligation at end of year	$ 89.8	$ 95.3	$ 100.6

Retirement and Other Benefit Plans (Schedule Of Reconciliation Of Fair Value Of Plan Assets) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Sep. 30, 2018	Sep. 30, 2017
Fair value of plan assets at beginning of year		$ 65.0	$ 60.6
Actual return on plan assets		2.7	5.9
Employer contributions	$ 7.5	10.2	2.9
Gross benefits paid		(4.6)	(4.4)
Settlements		0.0	0.0
Fair value of plan assets at end of year		$ 73.3	$ 65.0

Retirement and Other Benefit Plans (Schedule Of Funded Status) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017
Funded status at end of year	$ (16,500)	$ (30,300)
Accrued benefit cost	(16,500)	(30,300)
Current liability	(200)	(200)
Noncurrent liability	(16,286)	(30,223)
Accumulated other comprehensive (income)/loss (before tax effect)	41,900	47,400
Net actuarial loss	41,900	47,400
Accumulated other comprehensive (income)/loss (before tax effect)	$ 41,900	$ 47,400

Retirement and Other Benefit Plans (Schedule Of Components Of Net Periodic Benefit Cost For Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Service cost	$ 0.0	$ 0.0	$ 0.0
Interest cost	3.4	3.2	3.9
Expected return on plan assets	(3.8)	(3.9)	(4.4)
Net actuarial loss	2.3	2.6	2.0
Net periodic benefit cost	1.9	1.9	1.5
Defined contribution plans	7.1	6.3	5.2
Total	$ 9.0	$ 8.2	$ 6.7

Retirement and Other Benefit Plans (Schedule Of Weighted-Average Assumptions Used To Determine The Net Periodic Benefit Cost For Pension Plans) (Details)	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Net Periodic Benefit Cost [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Discount rate	3.65%	3.25%	4.25%
Rate of increase in compensation levels
Expected long-term rate of return on assets	6.00%	6.25%	6.75%
Net Periodic Benefit Obligations [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Discount rate	4.15%	3.65%
Rate of increase in compensation levels

Retirement and Other Benefit Plans (Schedule Of Asset Allocation For Pension Plans Acceptable Range And Target Allocation By Asset Category) (Details)	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017
Cash and Cash Equivalents [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage		2.00%	3.00%
Cash and Cash Equivalents [Member] \| Maximum [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	5.00%
Cash and Cash Equivalents [Member] \| Minimum [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	0.00%
Cash and Cash Equivalents [Member] \| Target Allocation 2019 [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	8211.00%
Return seeking [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage		44.00%	62.00%
Return seeking [Member] \| Maximum [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	47.00%
Return seeking [Member] \| Minimum [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	39.00%
Return seeking [Member] \| Target Allocation 2019 [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	37.00%
Hedge Funds, Equity [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage		54.00%	35.00%
Hedge Funds, Equity [Member] \| Maximum [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	61.00%
Hedge Funds, Equity [Member] \| Minimum [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	53.00%
Hedge Funds, Equity [Member] \| Target Allocation 2019 [Member]
Defined Benefit Plan, Plan Assets, Target Allocation, Percentage	63.00%

Retirement and Other Benefit Plans (Schedule Of Fair Value Of Financial Measurements) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	$ 73.3	$ 65.0	$ 60.6
Cash and cash equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2.1	1.9
Domestic large capitalization [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	8.7	10.6
Domestic small/mid capitalization [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2.7	3.3
International funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	10.8	14.3
Fixed income funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	45.6	30.7
Real estate investment [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	$ 3.4	$ 4.2

Retirement and Other Benefit Plans (Schedule Of Expected Benefit Payments) (Details) $ in Millions	Sep. 30, 2018 USD ($)
Pension Benefits [Member]
Expected Employer Contributions — 2019	$ 1.0
Expected Benefit Payments:
2019	5.1
2020	5.8
2021	5.5
2022	5.7
2023	5.8
2024-2028	30.0
Other Benefits [Member]
Expected Employer Contributions — 2019	0.1
Expected Benefit Payments:
2019	0.1
2020	0.1
2021	0.1
2022	0.1
2023	0.1
2024-2028	$ 0.2

Derivative Financial Instruments (Schedule of Outstanding Derivative Financial Instruments) (Details)
€ in Thousands, £ in Thousands, $ in Thousands

Sep. 30, 2018

USD ($)

Sep. 30, 2018

GBP (£)

Sep. 30, 2018

EUR (€)

Interest Rate Swap [Member]

Derivatives, Fair Value [Line Items]

$ 150,000

$ 94

2.18%

1.80%

Interest Rate Swap One [Member]

Derivatives, Fair Value [Line Items]

Notional Amount

$ 150,000

^[1]

Fair Value

$ 913

^[1]

Fix Rate

2.09%

^[1]

2.09%

^[1]

2.09%

^[1]

Interest Rate Swap Two [Member]

Derivatives, Fair Value [Line Items]

Notional Amount

$ 150,000

^[2]

Fair Value

$ 1,235

^[2]

Fix Rate

2.24%

^[2]

2.24%

^[2]

2.24%

^[2]

Forward Contracts [Member]

Derivatives, Fair Value [Line Items]

Notional Amount | £

£ 700

Fair Value | £

£ (94)

Forward Contracts One [Member]

Derivatives, Fair Value [Line Items]

Notional Amount

$ 9,500

Fair Value

$ (17)

Forward Contracts Two [Member]

Derivatives, Fair Value [Line Items]

Notional Amount | €

€ 200

Fair Value | €

€ 6

[1]	This swap represents a forward contract and will be effective in November 2018.
[2]	This swap represents a forward contract and will be effective in November 2019.

Derivative Financial Instruments (Narrative) (Details) - Interest Rate Swap [Member] $ in Thousands	Sep. 30, 2018 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	$ 150,000
Derivative, Number of Instruments Held	3

Business Segment Information (Schedule Of Net Sales And Earnings Before Income Tax) (Details) - USD ($) $ in Thousands			1 Months Ended					3 Months Ended								12 Months Ended
	Mar. 14, 2018	May 08, 2017	Aug. 30, 2017	May 25, 2017	Nov. 07, 2016	Sep. 02, 2016	Jan. 29, 2016	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
NET SALES	$ 8,000	$ 45,000	$ 14,000	$ 25,000	$ 40,000	$ 25,000	$ 35,000	$ 231,086	$ 192,223	$ 174,778	$ 173,495	$ 207,005	$ 171,189	$ 161,178	$ 146,368	$ 771,582	$ 685,740	$ 571,459
Consolidated EBIT																96,800	84,700	69,700
Less: interest expense																(8,748)	(4,578)	(1,308)
Earnings before income tax																88,023	80,153	68,420
Filtration [Member]
Segment Reporting Information [Line Items]
NET SALES																286,800	279,500	207,800
Consolidated EBIT																58,700	52,200	45,200
Test [Member]
Segment Reporting Information [Line Items]
NET SALES																182,900	160,900	161,500
Consolidated EBIT																23,800	19,500	13,900
USG [Member]
Segment Reporting Information [Line Items]
NET SALES																214,000	162,400	127,800
Consolidated EBIT																43,200	36,600	31,100
Technical Packaging [Member]
Segment Reporting Information [Line Items]
NET SALES																87,900	82,900	74,400
Consolidated EBIT																8,100	8,500	9,600
Reconciliation to consolidated totals (Corporate) [Member]
Segment Reporting Information [Line Items]
Consolidated EBIT																$ (37,000)	$ (32,100)	$ (30,100)

Business Segment Information (Schedule Of Identifiable Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017
Identifiable Assets	$ 1,265,122	$ 1,260,444
Filtration [Member]
Identifiable Assets	204,700	194,200
Test [Member]
Identifiable Assets	138,300	132,200
USG [Member]
Identifiable Assets	176,900	175,500
Technical Packaging [Member]
Identifiable Assets	50,900	47,100
Corporate – Goodwill [Member]
Identifiable Assets	381,700	377,900
Corporate – Other assets [Member]
Identifiable Assets	$ 312,600	$ 333,500

Business Segment Information (Schedule Of Depreciation And Amortization) (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Depreciation and Amortization	$ 37,755	$ 32,229	$ 23,568
Filtration [Member]
Depreciation and Amortization	7,600	6,600	4,000
Test [Member]
Depreciation and Amortization	4,500	3,600	3,600
USG [Member]
Depreciation and Amortization	11,000	9,800	8,100
Technical Packaging [Member]
Depreciation and Amortization	4,100	3,500	2,900
Corporate [Member]
Depreciation and Amortization	$ 10,600	$ 8,700	$ 5,000

Business Segment Information (Schedule Of Geographic Information Net Sales) (Details) - USD ($) $ in Thousands			1 Months Ended					3 Months Ended								12 Months Ended
	Mar. 14, 2018	May 08, 2017	Aug. 30, 2017	May 25, 2017	Nov. 07, 2016	Sep. 02, 2016	Jan. 29, 2016	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Net Sales	$ 8,000	$ 45,000	$ 14,000	$ 25,000	$ 40,000	$ 25,000	$ 35,000	$ 231,086	$ 192,223	$ 174,778	$ 173,495	$ 207,005	$ 171,189	$ 161,178	$ 146,368	$ 771,582	$ 685,740	$ 571,459
United States [Member]
Net Sales																536,700	503,100	403,600
Asia [Member]
Net Sales																94,500	69,800	68,100
Europe [Member]
Net Sales																85,000	75,400	71,600
Canada [Member]
Net Sales																30,300	22,200	12,900
India [Member]
Net Sales																9,400	4,800	2,900
Other [Member]
Net Sales																$ 15,700	$ 10,400	$ 12,400

Business Segment Information (Schedule Of Geographic Information Long-Lived Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2017
Long-Lived Assets	$ 134,954	$ 132,748
United States [Member]
Long-Lived Assets	113,200	111,500
Europe [Member]
Long-Lived Assets	17,100	16,800
Other [Member]
Long-Lived Assets	$ 4,700	$ 4,400

Business Segment Information (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Percentage Of Sale Of Customer Maximum	10.00%	10.00%
Capitalized Computer Software, Period Increase (Decrease)	$ 9.5	$ 9.0	$ 8.7
Property, Plant and Equipment [Member]
Depreciation	$ 19.4	$ 15.9	$ 11.9

Commitments and Contingencies (Details) $ in Thousands	Sep. 30, 2018 USD ($)
2019	$ 6,702
2020	5,428
2021	3,540
2022	2,822
2023 and thereafter	3,467
Total	$ 21,959

Capital Leases (Details) $ in Thousands	Sep. 30, 2018 USD ($)
2019	$ 1,922
2020	1,917
2021	1,859
2022	1,900
2023 and thereafter	14,077
Total minimum lease payments	21,675
Less: amounts representing interest	3,514
Present value of net minimum lease payments	18,161
Current portion of capital lease obligations	1,346
Non-current portion of capital lease obligations	$ 16,815

Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended					3 Months Ended								12 Months Ended
	Mar. 14, 2018	May 08, 2017	Aug. 30, 2017	May 25, 2017	Nov. 07, 2016	Sep. 02, 2016	Jan. 29, 2016	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Net sales	$ 8,000	$ 45,000	$ 14,000	$ 25,000	$ 40,000	$ 25,000	$ 35,000	$ 231,086	$ 192,223	$ 174,778	$ 173,495	$ 207,005	$ 171,189	$ 161,178	$ 146,368	$ 771,582	$ 685,740	$ 571,459
Net earnings								$ 28,452	$ 19,019	$ 9,994	$ 34,671	$ 19,174	$ 12,645	$ 11,157	$ 10,727	$ 92,136	$ 53,703	$ 45,882
Earnings per share:
Basic								$ 1.10	$ 0.73	$ 0.39	$ 1.34	$ 0.74	$ 0.49	$ 0.43	$ 0.42	$ 3.56	$ 2.08	$ 1.78
Diluted								1.09	0.73	0.38	1.33	0.74	0.49	0.43	0.41	3.54	2.07	1.77
Dividends declared per common share								0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	$ 0.32	$ 0.32	$ 0.32
Common Stock per share:
High								70.20	60.25	66.80	65.95	63.80	61.40	58.95	58.75
Low								$ 57.00	$ 54.35	$ 57.15	$ 51.55	$ 50.30	$ 55.15	$ 51.80	$ 42.95

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Retirement and Other Benefit Plans (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 30, 2017
Defined Benefit Plan Before Adoption Of SFAS 158 Recognition Provision Accrued Benefit Liability	$ 0.5	$ 0.6
DefinedBenefitPlanAmountToBeAmortizedFromAccumulatedOtherComprehensiveIncomeLossNextFiscalYear	$ 2.1

Derivative Financial Instruments (Schedule of Derivative Liabilities at Fair Value) (Details) - Forward Contracts [Member] $ in Thousands	Sep. 30, 2018 USD ($)
Derivative Instruments in Hedges, at Fair Value, Net, Total	$ 2,137
Fair Value, Inputs, Level 1 [Member]
Derivative Instruments in Hedges, at Fair Value, Net, Total	0
Fair Value, Inputs, Level 2 [Member]
Derivative Instruments in Hedges, at Fair Value, Net, Total	2,137
Fair Value, Inputs, Level 3 [Member]
Derivative Instruments in Hedges, at Fair Value, Net, Total	$ 0

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Letters of Credit Outstanding, Amount	$ 7.8	$ 9.7
Operating Leases, Rent Expense, Net	$ 6.9	$ 6.8	$ 6.0