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Pension Plans | 9 Months Ended
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Oct. 01, 2016
Pension Plans | Note I – Pension Plans The components of pension cost for VF’s defined benefit plans are as follows:
|  | Three Months Ended September |  |  | Nine Months Ended September |
In thousands |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Service cost – benefits earned during the period |  | $ | 6,478 |  |  | $ | 7,305 |  |  | $ | 19,434 |  |  | $ | 21,984 |
Interest cost on projected benefit obligations |  |  | 16,991 |  |  |  | 19,415 |  |  |  | 51,066 |  |  |  | 58,229 |
Expected return on plan assets |  |  | (24,869 | ) |  |  | (27,784 | ) |  |  | (74,714 | ) |  |  | (83,334 | )
Amortization of deferred amounts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net deferred actuarial losses |  |  | 16,303 |  |  |  | 15,493 |  |  |  | 48,928 |  |  |  | 46,485 |
Deferred prior service costs |  |  | 645 |  |  |  | 760 |  |  |  | 1,937 |  |  |  | 2,281 |
Net periodic pension cost |  | $ | 15,548 |  |  | $ | 15,189 |  |  | $ | 46,651 |  |  | $ | 45,645 |
VF contributed $12.8 million to its defined benefit plans during the first nine months of 2016, and intends to make approximately $2.4 million of additional contributions during the remainder of 2016. VF incurred $2.4 million and $4.0 million in settlement charges during the third quarter and first nine months of 2015, respectively, related to the recognition of deferred actuarial losses resulting from lump sum payments of retirement benefits to participants in VF’s supplemental defined benefit pension plan. No settlement charges were incurred during the first nine months of 2016.

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