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037 - Disclosure - Note 11 - Employee Benefit Plans (Tables)
(http://www.insteel.com/20161001/role/statement-note-11-employee-benefit-plans-tables)
TableStatement [Table]
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0000764401 (http://www.sec.gov/CIK)
Scenario [Axis]Scenario, Unspecified [Domain]
Statement [Line Items]Period [Axis]
2015-10-04 - 2016-10-01
Notes Tables
 
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]
 
 
Year Ended
 
 
 
October 1,
 
 
October 3,
 
 
September 27,
 
(In thousands)
 
2016
 
 
2015
 
 
2014
 
Change in benefit obligation:
 
 
 
 
 
 
 
 
 
 
 
 
Benefit obligation at beginning of year
   $ 3,463     $ 3,078     $ 2,973  
Interest cost
     147       130       137  
Actuarial loss
    324       514       174  
Plan settlement
     290       -       -  
Distributions
     (4,224 )     (259 )     (206 )
Benefit obligation at end of year
   $ -     $ 3,463     $ 3,078  
                         
Change in plan assets:
 
 
 
 
 
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
   $ 2,201     $ 2,253     $ 2,045  
Actual return on plan assets
     104       (27 )     178  
Employer contributions
     1,919       234       240  
Plan settlement
     (4,003 )     -       -  
Distributions
     (221 )     (259 )     (210 )
Fair value of plan assets at end of year
   $ -     $ 2,201     $ 2,253  
                         
Reconciliation of funded status to net amount recognized:
 
 
 
 
 
 
 
 
 
 
 
 
Funded status
   $ -     $ (1,263 )   $ (825 )
Net amount recognized
   $ -     $ (1,263 )   $ (825 )
                         
Amounts recognized on the consolidated balance sheet:
 
 
 
 
 
 
 
 
 
 
 
 
Accrued benefit liability
   $ -     $ (1,263 )   $ (825 )
Accumulated other comprehensive loss (net of tax)
     -       1,197       782  
Net amount recognized
   $ -     $ (66 )   $ (43 )
                         
Amounts recognized in accumulated other
comprehensive loss:
 
 
 
 
 
 
 
 
 
 
 
 
Unrecognized net loss
   $ -     $ 1,930     $ 1,261  
Net amount recognized
   $ -     $ 1,930     $ 1,261  
                         
Other changes in plan assets and benefit obligations
recognized in other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
Net loss
   $ 685     $ 723     $ 165  
Amortization of net loss
     (76 )     (53 )     (43 )
Settlement loss
     (2,539 )     -       -  
Total recognized in other comprehensive income (loss)
   $ (1,930 )   $ 670     $ 122  
 
 
Year Ended
 
(In thousands)
 
October 1,
2016
 
 
October 3,
2015
 
 
September 27,
2014
 
Change in benefit obligation:
 
 
 
 
 
 
 
 
 
 
 
 
Benefit obligation at beginning of year
   $ 7,821     $ 7,480     $ 6,938  
Service cost
     263       287       219  
Interest cost
     326       323       315  
Actuarial loss
     1,039       21       298  
Distributions
     (290 )     (290 )     (290 )
Benefit obligation at end of year
   $ 9,159     $ 7,821     $ 7,480  
                         
Change in plan assets:
 
 
 
 
 
 
 
 
 
 
 
 
Actual employer contributions
   $ 290     $ 290     $ 290  
Actual distributions
     (290 )     (290 )     (290 )
Plan assets at fair value at end of year
   $ -     $ -     $ -  
                         
Reconciliation of funded status to net amount recognized:
 
 
 
 
 
 
 
 
 
 
 
 
Funded status
   $ (9,159 )   $ (7,821 )   $ (7,480 )
Net amount recognized
   $ (9,159 )   $ (7,821 )   $ (7,480 )
                         
Amounts recognized in accumulated other
comprehensive loss:
 
 
 
 
 
 
 
 
 
 
 
 
Unrecognized net loss
   $ 2,485     $ 1,531     $ 1,627  
Net amount recognized
   $ 2,485     $ 1,531     $ 1,627  
                         
Other changes in plan assets and benefit obligations
recognized in other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
Net loss
   $ 1,039     $ 21     $ 298  
Amortization of net loss
     (85 )     (117 )     (52 )
Total recognized in other comprehensive income (loss)
   $ 954     $ (96 )   $ 246  
  
Schedule of Net Benefit Costs [Table Text Block]
 
 
Year Ended
 
 
 
October 1,
 
 
October 3,
 
 
September 27,
 
(In thousands)
 
2016
 
 
2015
 
 
2014
 
Interest cost
   $ 147     $ 130     $ 137  
Expected return on plan assets
     (175 )     (181 )     (165 )
Settlement loss recognized
     2,539       -       -  
Amortization of net loss
     76       53       43  
Net periodic pension cost
   $ 2,587     $ 2     $ 15  
 
 
Year Ended
 
(In thousands)
 
October 1,
2016
 
 
October 3,
2015
 
 
September 27,
2014
 
Service cost
   $ 263     $ 287     $ 219  
Interest cost
     326       323       315  
Amortization of net loss
     85       117       52  
Net periodic pension cost
   $ 674     $ 727     $ 586  
  
Schedule of Assumptions Used [Table Text Block]
 
 
Measurement Date
 
 
 
October 1,
2016
 
 
October 3,
2015
 
 
September 27,
2014
 
Assumptions at year-end:
                        
Discount rate
     3.75 %     4.25 %     4.25 %
Expected long-term rate of return on assets
     N/A       8.00 %     8.00 %
 
 
Measurement Date
 
 
 
October 1,
2016
 
 
October 3,
2015
 
 
September 27,
2014
 
Assumptions at year-end:
                        
Discount rate
     3.75 %     4.25 %     4.25 %
Rate of increase in compensation levels
     3.00 %     3.00 %     3.00 %
  
Schedule of Allocation of Plan Assets [Table Text Block]
 
 
Percentage of Plan Assets at
Measurement Date
 
 
 
October 3,
 
 
September 27,
 
 
 
2015
 
 
2014
 
Large-cap equities
     37.6 %     36.6 %
Mid-cap equities
     7.7 %     7.4 %
Small-cap equities
     8.2 %     8.3 %
International equities
     8.8 %     8.8 %
Fixed income securities
     37.3 %     38.0 %
Cash and cash equivalents
     0.4 %     0.9 %
  
Schedule of Defined Benefit Plans Disclosures [Table Text Block]
(In thousands)
 
Total
 
 
Quoted Prices
in Active
Markets
(Level 1)
 
 
Observable
Inputs
(Level 2)
 
 
Unobservable
Inputs
(Level 3)
 
Large-cap equities
   $ 828     $ 828     $ -     $ -  
Mid-cap equities
     169       169       -       -  
Small-cap equities
     181       181       -       -  
International equities
     195       195       -       -  
Fixed income securities
     820       820       -       -  
Cash and cash equivalents
     8       -       8       -  
Total
   $ 2,201     $ 2,193     $ 8     $ -  
  
Schedule of Expected Benefit Payments [Table Text Block]
Fiscal year(s)
 
In thousands
 
2017
   $ 290  
2018
     359  
2019
     321  
2020
     241  
2021
     241  
2022- 2026     3,403