Retirement Plans

6 Months Ended

Jul. 04, 2015

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 July 4, 2015 and June 28, 2014 is as follows (in thousands):

		Three Months Ended
		July 4, 2015						June 28, 2014
		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		$	-	$	262	$	1,337	$	-	$	199	$	1,212
Interest cost			1,513		118		402		1,595		118		592
Expected return on plan
	assets		(2,318)		(122)		(410)		(2,308)		(107)		(392)
Net amortization:
	Prior service cost (credit)		-		-		14		-		(13)		(47)
	Net actuarial loss (gain)		679		-		273		485		(4)		97
Net periodic pension
	(benefit) cost	$	(126)	$	258	$	1,616	$	(228)	$	193	$	1,462

		Six Months Ended
		July 4, 2015						June 28, 2014
		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		$	-	$	524	$	2,674	$	-	$	398	$	2,424
Interest cost			3,026		236		804		3,190		236		1,184
Expected return on plan
	assets		(4,636)		(244)		(820)		(4,616)		(214)		(784)
Net amortization:
	Prior service cost (credit)		-		-		28		-		(26)		(94)
	Net actuarial loss (gain)		1,358		-		546		970		(8)		194
Net periodic pension
	(benefit) cost	$	(252)	$	516	$	3,232	$	(456)	$	386	$	2,924

During fiscal year 2015, the Company expects to contribute a total of approximately $4 million to $11 million to the Company's defined benefit plans.