Retirement Plans

6 Months Ended

Jul. 02, 2016

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 2, 2016 and July 4, 2015 is as follows (in thousands):

		Three Months Ended
		July 2, 2016						July 4, 2015
		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		$	94	$	116	$	1,250	$	-	$	262	$	1,337
Interest cost			1,745		135		429		1,513		118		402
Expected return on plan
	assets		(2,417)		(130)		(406)		(2,318)		(122)		(410)
Net amortization:
	Prior service (credit) cost		-		-		(49)		-		-		14
	Net actuarial loss		667		-		192		679		-		273
Net periodic pension
	cost (benefit)	$	89	$	121	$	1,416	$	(126)	$	258	$	1,616

		Six Months Ended
		July 2, 2016						July 4, 2015
		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		$	188	$	232	$	2,468	$	-	$	524	$	2,674
Interest cost			3,490		270		850		3,026		236		804
Expected return on plan
	assets		(4,834)		(260)		(805)		(4,636)		(244)		(820)
Net amortization:
	Prior service (credit) cost		-		-		(94)		-		-		28
	Net actuarial loss		1,334		-		380		1,358		-		546
Net periodic pension
	cost (benefit)	$	178	$	242	$	2,799	$	(252)	$	516	$	3,232

During fiscal year 2016, the Company expects to contribute a total of approximately $5 million to $10 million to the Company's defined benefit plans.