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RETIREMENT AND DEFERRED COMPENSATION PLANS | 6 Months Ended
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Jun. 30, 2015
RETIREMENT AND DEFERRED COMPENSATION PLANS |
RETIREMENT AND DEFERRED COMPENSATION PLANS | NOTE 6 – RETIREMENT AND DEFERRED COMPENSATION PLANS Components of Net Periodic Benefit Cost:
|  | Domestic Plans |  | Foreign Plans |
Three months ended June 30, |  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Service cost |  | $ | 2,504 |  | $ | 2,010 |  | $ | 1,139 |  | $ | 1,081 |
Interest cost |  | 1,589 |  | 1,482 |  | 412 |  | 699 |
Expected return on plan assets |  | (1,897 | ) | (1,646 | ) | (447 | ) | (510 | )
Amortization of net loss |  | 1,351 |  | 717 |  | 418 |  | 313 |
Amortization of prior service cost |  | -- |  | -- |  | 64 |  | 80 |
Net periodic benefit cost |  | $ | 3,547 |  | $ | 2,563 |  | $ | 1,586 |  | $ | 1,663 |
|  | Domestic Plans |  | Foreign Plans |
Six months ended June 30, |  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Service cost |  | $ | 5,008 |  | $ | 4,021 |  | $ | 2,299 |  | $ | 2,160 |
Interest cost |  | 3,178 |  | 2,964 |  | 832 |  | 1,398 |
Expected return on plan assets |  | (3,795 | ) | (3,292 | ) | (902 | ) | (1,020 | )
Amortization of net loss |  | 2,702 |  | 1,434 |  | 843 |  | 626 |
Amortization of prior service cost |  | -- |  | -- |  | 129 |  | 161 |
Net periodic benefit cost |  | $ | 7,093 |  | $ | 5,127 |  | $ | 3,201 |  | $ | 3,325 |
EMPLOYER CONTRIBUTIONS Although the Company has no minimum funding requirement, we plan to contribute approximately $10 million to our domestic defined benefit plans in 2015. No 2015 contributions were made as of June 30, 2015. The Company also expects to contribute approximately $12.6 million to our foreign defined benefit plans in 2015, and as of June 30, 2015, we have contributed approximately $1.0 million.

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