14.	Benefit Plans

Medical and Dental Plan

The Company maintains medical and dental benefit plans covering

its full-time domestic employees and their dependents. Certain plans are partially or fully self-funded under which participant claims are obligations of the plan. These plans are funded through employer and employee contributions at a level sufficient to pay for the benefits provided by the plan. The Company’s contributions to the plans were

$14,992,

$15,019,

and

$14,352

for the years ended

December 31, 2017,

2016,

and

2015,

respectively.

The Company

’s foreign subsidiaries participate in government sponsored medical benefit plans. In certain cases, the Company purchases supplemental medical coverage for certain employees at these foreign locations

. The expenses related to these plans are

not

material to the Company’s consolidated financial statements.

avings Plan

The Company maintains

a defined-contribution

401

(k) savings plan for eligible domestic employees. Under the plan, employees

may

defer receipt of a portion of their eligible compensation. The Company amended the

401

(k) savings plans effective

January 1, 2009,

to add Company matching and non-elective contributions. The Company

may

contribute a matching contribution of

50%

of the

first

of eligible compensation of employees. The Company

may

also contribute a non-elective contribution for eligible employees employed on

December 31, 2008.

Both Company matching contributions and non-elective contributions are subject to vesting. Forfeitures

may

be applied against plan expenses and company contributions. The Company recognized

$3,600,

$3,400

and

$3,000

of expense related to these plans in

2017,

2016

and

2015,

respectively.

Pension Plans

The Company has

frozen noncontributory salaried and hourly pension plans (Pension Plans) covering certain domestic employees.

The Pension Plans were frozen effective

December 31, 2008.

The benefits under the salaried plan are based upon years of service and the participants’ defined final average monthly compensation. The benefits under the hourly plan are based on a unit amount at the date of termination multiplied by the participant’s years of credited service. The Company’s funding policy for the Pension Plans is to contribute amounts at least equal to the minimum annual amount required by applicable regulations.

The Company uses a

December 31

measurement date for the Pension Plans.

The accumulated benefit obligation, reconciliation of the changes in projected benefit obligation, changes in plan assets and the funded status of the Pension Plans are as follows:

	Year Ended December 31,
	201 7			201 6

Accumulated benefit obligation at end of period	$	72,631		$	65,956

Change in projected benefit obligation
Projected benefit obligation at beginning of period	$	65,956		$	63,894
Interest cost		2,688			2,747
Net actuarial loss		6,170			1,363
Benefits paid		(2,183	)		(2,048	)
Projected benefit obligation at end of period	$	72,631		$	65,956

Change in plan assets
Fair value of plan assets at beginning of period	$	46,488		$	43,985
Actual return on plan assets		8,382			3,820
Company contributions		5,327			731
Benefits paid		(2,183	)		(2,048	)
Fair value of plan assets at end of period	$	58,014		$	46,488

Funded status: accrued pension liability included in other long-term liabilities	$	(14,617	)	$	(19,468	)

Amounts recognized in accumulated other comprehensive loss
Net a ctuarial loss, net of tax	$	(10,978	)	$	(11,040	)

The

actuarial loss for the Pension Plans that was amortized from AOCL into net periodic (benefit) cost during

2017

$883.

The amount in AOCL as of

December 31, 2017

that is expected to be recognized as a component of net periodic pension expense during the next fiscal year is

$802.

The

components of net periodic pension cost are as follows:

	Year E nded December 31,
	201 7			201 6			201 5
Interest cost	$	2,688		$	2,747		$	2,681
Expected return on plan assets		(3,011	)		(2,868	)		(3,041	)
Amortization of net loss		883			941			1,228
Net periodic pension cost	$	560		$	820		$	868

Weighted-average assumptions used to determine

the benefit obligations are as follows:

	December 31,
	201 7			201 6
Discount rate – salaried pension plan		3.60	%		4.14	%
Discount rate – hourly pension plan		3.62	%		4.16	%
Rate of compensation increase (1)		n/a			n/a

(

)

compensation increase was assumed as the plans were frozen effective

December 31, 2008.

Weighted-average assumptions used to

determine net periodic pension cost are as follows:

	Y ear E nded December 31,
	201 7			201 6			201 5
Discount rate		4.14	%		4.39	%		3.99	%
Expected long-term rate of return on plan assets		6.58	%		6.62	%		6.75	%
Rate of compensation increase (1)		n/a			n/a			n/a

(

)

compensation increase was assumed as the plans were frozen effective

December 31, 2008

To determine the long-term rate of return assumption for the plans' assets, the Company studies historical markets and preserves the long-term historical relationships between equities and fixed-income securities consistent with the widely accepted capital market principle that assets with higher volatility generate a greater return over the long run. The Company evaluates current market factors such as inflation and interest rates before it determines long-term capital market assumptions and reviews peer data and historical returns to check for reasonableness and

appropriateness.

The Pension Plans

’ weighted-average asset allocation at

December 31, 2017

and

2016,

by asset category, is as follows:

	Target Allocation				December 31, 201 7					December 31, 201 6
Asset Category	Minimum		Maximum		Dollars		%			Dollars		%
Fixed Income	15.0	%	25.0	%	$	10,637		18	%	$	7,812		17	%
Domestic equity	36.5	%	61.5	%		25,151		43	%		19,615		42	%
International equity	17.0	%	25.0	%		16,093		28	%		13,466		29	%
Real estate	7.0	%	15.0	%		6,133		11	%		5,595		12	%
Total					$	58,014		100	%	$	46,488		100	%

The fair values of the Pension Plans

’ assets at

December 31, 2017

are as follows:

	Total		Quoted Prices in Active Markets for Identical A sset (L evel 1)		Significant Observable I nputs (L evel 2)		Significant Unobservable I nputs (L evel 3)
Mutual fund s	$	48,314	$	48,314	$	–	$	–
Other investments		9,700		–		–		9,700
Total	$	58,014	$	48,314	$	–	$	9,700

The fair values of the Pension Pl

ans' assets at

December 31, 2016

are as follows:

	Total		Quoted Prices in Active Markets for Identical A sset (L evel 1)		Significant O b servable Inputs (L evel 2)		Significant Unobservable I nputs (L evel 3)
Mutual fund s	$	37,860	$	37,860	$	–	$	–
Other investment s		8,628		–		–		8,628
Total	$	46,488	$	37,860	$	–	$	8,628

A reconciliation of beg

inning and ending balances for Level

assets for the years ended

December 31, 2017

and

2016

is as follows:

	Year Ended December 31,
	201 7		201 6
Balance at beginning of period	$	8,628	$	3,675
Purchases		-		4,400
Realized gains		1,072		553
Balance at end of period	$	9,700	$	8,628

Mutual Funds

– This category includes investments in mutual funds that encompass both equity and fixed income securities that are designed to provide a diverse portfolio. The plans' mutual funds are designed to track exchange indices, and invest in diverse industries. Some mutual funds are classified as regulated investment companies. Investment managers have the ability to shift investments from value to growth strategies, from small to large capitalization funds, and from U.S. to international investments. These investments are valued at the closing price reported on the active market on which the individual securities are traded. These investments are classified within Level

of the fair value hierarchy.

Other Investments

– This category includes investments in limited partnerships and are valued at estimated fair value, as determined with the assistance of each respective limited partnership, based on the net asset value of the investment as of the balance sheet date, which is subject to judgment, and therefore is classified within Level

of the fair value hierarchy.

The Company

’s target allocation for equity securities and real estate is generally between

65%

85%,

with the remainder allocated primarily to fixed income (bonds). The Company regularly reviews its actual asset allocation and periodically rebalances its investments to the targeted allocation when considered appropriate.

At a minimum, the Company expects to make

estimated contributions of

$319

to the Pension Plans in

2018.

The following benefit payments are expected to be paid from the Pension Plans:

201 8	$	2,445
201 9		2,502
20 20		2,622
20 21		2,760
202 2		2,932
2023 – 2027		16,989

Certain of the Company

’s foreign subsidiaries participate in local statutory defined benefit or other post-employment benefit plans. These plans provide benefits that are generally based on years of credited service and a percentage of the employee’s eligible compensation earned throughout the applicable service period. Liabilities recorded under these plans are included in accrued wages and employee benefits in the Company’s consolidated balance sheets and are

not

material.