Retirement Plans

9 Months Ended

Sep. 27, 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 nine months ended September 27, 2014 and September 28, 2013 is as follows (in thousands):

		Three Months Ended
		September 27, 2014						September 28, 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		$	-	$	196	$	1,212	$	-	$	238	$	1,152
Interest cost			1,623		111		592		1,290		85		499
Expected return on plan
	assets		(2,179)		(112)		(392)		(1,951)		(88)		(228)
Net amortization:
	Prior service credit		-		(13)		(47)		-		(13)		(62)
	Net actuarial loss (gain)		692		(18)		97		812		-		131
Net periodic pension
	cost	$	136	$	164	$	1,462	$	151	$	222	$	1,492

		Nine Months Ended
		September 27, 2014						September 28, 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		$	-	$	594	$	3,636	$	-	$	714	$	3,456
Interest cost			4,813		347		1,776		4,128		255		1,497
Expected return on plan
	assets		(6,795)		(326)		(1,176)		(6,027)		(264)		(684)
Net amortization:
	Prior service credit		-		(39)		(141)		-		(39)		(186)
	Net actuarial loss (gain)		1,662		(26)		291		2,574		-		393
Net periodic pension
	(benefit) cost	$	(320)	$	550	$	4,386	$	675	$	666	$	4,476

During the nine months ended September 27, 2014, the Company contributed $4 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 nine months ended September 27, 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.