Retirement Plans

9 Months Ended

Oct. 01, 2016

11 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 October 1, 2016 and October 3, 2015 is as follows (in thousands):

		Three Months Ended
		October 1, 2016						October 3, 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	$	1,253	$	-	$	(91)	$	1,337
Interest cost			1,710		135		423		1,570		116		402
Expected return on plan
	assets		(2,392)		(130)		(401)		(2,223)		(129)		(410)
Net amortization:
	Prior service (credit) cost		-		-		(51)		-		-		14
	Net actuarial loss		693		-		190		1,101		-		273
Net periodic pension
	cost (benefit)	$	105	$	121	$	1,414	$	448	$	(104)	$	1,616

		Nine Months Ended
		October 1, 2016						October 3, 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		$	282	$	348	$	3,721	$	-	$	433	$	4,011
Interest cost			5,200		405		1,273		4,596		352		1,206
Expected return on plan
	assets		(7,226)		(390)		(1,206)		(6,859)		(373)		(1,230)
Net amortization:
	Prior service (credit) cost		-		-		(145)		-		-		42
	Net actuarial loss		2,027		-		570		2,459		-		819
Net periodic pension
	cost	$	283	$	363	$	4,213	$	196	$	412	$	4,848

During the nine months ended October 1, 2016, the Company contributed $4 million to the Company's U.S. pension plans. 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.