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Retirement Benefits | 9 Months Ended
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Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract] |
Retirement Benefits | Retirement Benefits The Company sponsors several qualified and nonqualified defined benefit and defined contribution pension plans and other postretirement plans for its employees. The following tables provide the components of net periodic benefit cost for its major defined benefit plans and its other postretirement plans.
| Pension Benefits
| Three Months Ended September 30,
| 2016 |  | 2015
| U.S. |  | Non-U.S. |  | U.S. |  | Non-U.S.
Service cost | $ | 181 |  |  | $ | 331 |  |  | $ | 214 |  |  | $ | 377 |
Interest cost | 788 |  |  | 344 |  |  | 956 |  |  | 437 |
Expected return on plan assets | (1,233 | ) |  | (203 | ) |  | (1,186 | ) |  | (282 | )
Net amortization | 766 |  |  | 241 |  |  | 906 |  |  | 405 |
Net periodic benefit cost | $ | 502 |  |  | $ | 713 |  |  | $ | 890 |  |  | $ | 937 |
| Pension Benefits
| Nine Months Ended September 30,
| 2016 |  | 2015
| U.S. |  | Non-U.S. |  | U.S. |  | Non-U.S.
Service cost | $ | 769 |  |  | $ | 934 |  |  | $ | 965 |  |  | $ | 1,134 |
Interest cost | 2,282 |  |  | 1,049 |  |  | 2,831 |  |  | 1,305 |
Expected return on plan assets | (3,583 | ) |  | (642 | ) |  | (3,682 | ) |  | (838 | )
Net amortization | 2,420 |  |  | 722 |  |  | 2,585 |  |  | 1,334 |
Net periodic benefit cost | $ | 1,888 |  |  | $ | 2,063 |  |  | $ | 2,699 |  |  | $ | 2,935 |
| Other Postretirement Benefits
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Service cost | $ | 181 |  |  | $ | 168 |  |  | $ | 494 |  |  | $ | 506 |
Interest cost | 224 |  |  | 208 |  |  | 622 |  |  | 626 |
Net amortization | (154 | ) |  | (95 | ) |  | (462 | ) |  | (314 | )
Net periodic benefit cost | $ | 251 |  |  | $ | 281 |  |  | $ | 654 |  |  | $ | 818 |
The Company previously disclosed in its financial statements for the year ended December 31, 2015, that it expected to contribute approximately $6.1 million to its defined benefit plans and $0.9 million to its other postretirement benefit plans in 2016. As of September 30, 2016, the Company now expects to contribute $4.5 million to its defined benefit plans and $0.9 million to its other postretirement benefit plans in 2016. The Company contributed a total of $4.5 million during the first nine months of 2016 to fund these plans. During the third quarter of 2016, the Company implemented a program offering certain former U.S. employees with a vested pension benefit an option to take a one-time lump sum distribution rather than future monthly pension payments. The Company expects to make approximately $8.0 million to $10.0 million in payments from the plans in connection with this action and to incur an estimated pre-tax settlement loss of $3.0 million to $6.0 million in the fourth quarter of 2016. However, since the final result of the offering is presently unknown, these amounts are subject to change.

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