Retirement Plans

6 Months Ended

Jun. 28, 2014

10 Retirement Plans

The Company sponsors various retirement plans. The summary of the components of net periodic pension costs for the plans for the three and six months ended June 28, 2014 and June 29, 2013 is as follows (in thousands):

		Three Months Ended
		June 28, 2014						June 29, 2013
		U.S.		U.S. Retiree		Non-U.S.		U.S.		U.S. Retiree		Non-U.S.
		Pension		Healthcare		Pension		Pension		Healthcare		Pension
		Plans		Plan		Plans		Plans		Plan		Plans
Service cost		$	-	$	199	$	1,212	$	-	$	238	$	1,152
Interest cost			1,595		118		592		1,419		85		499
Expected return on plan
	assets		(2,308)		(107)		(392)		(2,038)		(88)		(228)
Net amortization:
	Prior service credit		-		(13)		(47)		-		(13)		(62)
	Net actuarial loss (gain)		485		(4)		97		881		-		131
Net periodic pension
	(benefit) cost	$	(228)	$	193	$	1,462	$	262	$	222	$	1,492

		Six Months Ended
		June 28, 2014						June 29, 2013
		U.S.		U.S. Retiree		Non-U.S.		U.S.		U.S. Retiree		Non-U.S.
		Pension		Healthcare		Pension		Pension		Healthcare		Pension
		Plans		Plan		Plans		Plans		Plan		Plans
Service cost		$	-	$	398	$	2,424	$	-	$	476	$	2,304
Interest cost			3,190		236		1,184		2,838		170		998
Expected return on plan
	assets		(4,616)		(214)		(784)		(4,076)		(176)		(456)
Net amortization:
	Prior service credit		-		(26)		(94)		-		(26)		(124)
	Net actuarial loss (gain)		970		(8)		194		1,762		-		262
Net periodic pension
	(benefit) cost	$	(456)	$	386	$	2,924	$	524	$	444	$	2,984

During the six months ended June 28, 2014, the Company contributed $1 million to the Company's U.S. pension plans. In addition, the Company made one-time contributions totaling $21 million to certain Non-U.S. pension plans during the six months ended June 28, 2014. During fiscal year 2014, the Company expects to contribute a total of approximately $29 million to $31 million to the Company's defined benefit plans.