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Pension and Other Postretirement Benefit Plans
3 Months Ended
Mar. 29, 2014
Compensation And Retirement Disclosure [Abstract]  
Pension and Other Postretirement Benefit Plans

(8) Pension and Other Postretirement Benefit Plans

Net Periodic Pension and Other Postretirement Benefit Cost

The components of the Company’s net periodic pension benefit cost are shown below (in millions):

 

     Three Months Ended  
     March 29, 2014     March 30, 2013  
     U.S.     Foreign     U.S.     Foreign  

Service cost

   $ 0.9      $ 2.2      $ 0.7      $ 2.5   

Interest cost

     7.1        5.1        6.6        5.3   

Expected return on plan assets

     (9.5     (6.7     (8.1     (6.4

Amortization of actuarial (gain) loss

     (0.1     0.3        1.0        1.6   

Settlement loss

     0.1        —          —          —     
  

 

 

   

 

 

   

 

 

   

 

 

 

Net periodic benefit (credit) cost

   $ (1.5   $ 0.9      $ 0.2      $ 3.0   
  

 

 

   

 

 

   

 

 

   

 

 

 

The components of the Company’s net periodic other postretirement benefit cost are shown below (in millions):

 

     Three Months Ended  
     March 29, 2014     March 30, 2013  
     U.S.     Foreign     U.S.      Foreign  

Service cost

   $ 0.1      $ 0.2      $ —         $ 0.3   

Interest cost

     1.0        0.5        0.9         0.8   

Amortization of actuarial (gain) loss

     (0.2     —          —           0.1   

Amortization of prior service credit

     —          (0.1     —           (0.1

Special termination benefits

     —          0.2        —           —     
  

 

 

   

 

 

   

 

 

    

 

 

 

Net periodic benefit cost

   $ 0.9      $ 0.8      $ 0.9       $ 1.1   
  

 

 

   

 

 

   

 

 

    

 

 

 

Contributions

Employer contributions to the Company’s domestic and foreign pension plans for the three months ended March 29, 2014, were $3.8 million. The Company expects contributions to its domestic and foreign pension plans of approximately $20 million in 2014. The Company may elect to make contributions in excess of minimum funding requirements in response to investment performance or changes in interest rates or when the Company believes that it is financially advantageous to do so and based on its other cash requirements.

Employer contributions to the Company’s defined contribution retirement program for its salaried employees, determined as a percentage of each covered employee’s eligible compensation, for the three months ended March 29, 2014, were $1.9 million. The Company expects total contributions of approximately $16 million to this program in 2014.