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Pension and Other Postretirement Benefit Plans
6 Months Ended
Jul. 01, 2017
Retirement Benefits [Abstract]  
Pension and Other Postretirement Benefit Plans
Pension and Other Postretirement Benefit Plans
The Company sponsors defined benefit pension plans and other postretirement benefit plans (primarily for the continuation of medical benefits) for eligible employees in the United States and certain other countries.
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
 
Six Months Ended
 
July 1, 2017
 
July 2, 2016
 
July 1, 2017
 
July 2, 2016
 
U.S.
 
Foreign
 
U.S.
 
Foreign
 
U.S.
 
Foreign
 
U.S.
 
Foreign
Service cost
$
1.2

 
$
1.8

 
$
1.4

 
$
1.7

 
$
2.5

 
$
3.5

 
$
2.8

 
$
3.2

Interest cost
5.5

 
3.4

 
7.5

 
4.2

 
10.9

 
7.2

 
14.9

 
8.1

Expected return on plan assets
(7.2
)
 
(5.5
)
 
(9.5
)
 
(6.0
)
 
(14.4
)
 
(11.1
)
 
(19.0
)
 
(11.6
)
Amortization of actuarial loss
0.7

 
1.3

 
0.7

 
0.8

 
1.3

 
2.5

 
1.4

 
1.5

Settlement loss

 

 

 

 
0.2

 
0.8

 
0.2

 

Net periodic benefit cost
$
0.2

 
$
1.0

 
$
0.1

 
$
0.7

 
$
0.5

 
$
2.9

 
$
0.3

 
$
1.2


In the six months ended July 1, 2017, the Company recognized a pension settlement loss of $0.8 million related to its restructuring actions.
The components of the Company’s net periodic other postretirement benefit cost are shown below (in millions):
 
Three Months Ended
 
Six Months Ended
 
July 1, 2017
 
July 2, 2016
 
July 1, 2017
 
July 2, 2016
 
U.S.
 
Foreign
 
U.S.
 
Foreign
 
U.S.
 
Foreign
 
U.S.
 
Foreign
Service cost
$
0.1

 
$
0.2

 
$
0.1

 
$
0.1

 
$
0.1

 
$
0.3

 
$
0.1

 
$
0.3

Interest cost
0.6

 
0.4

 
0.7

 
0.4

 
1.2

 
0.8

 
1.5

 
0.8

Amortization of actuarial (gain) loss
(0.7
)
 

 
(0.3
)
 

 
(1.3
)
 
0.1

 
(0.6
)
 
0.1

Amortization of prior service credit

 
(0.1
)
 

 
(0.1
)
 

 
(0.2
)
 

 
(0.2
)
Special termination benefits

 
0.1

 

 
0.3

 

 
0.1

 

 
0.3

Net periodic benefit cost
$

 
$
0.6

 
$
0.5

 
$
0.7

 
$

 
$
1.1

 
$
1.0

 
$
1.3


Contributions
In the six months ended July 1, 2017, employer contributions to the Company’s domestic and foreign defined benefit pension plans were $5.6 million.
The Company expects contributions to its domestic and foreign defined benefit pension plans to be approximately $10 million to $15 million in 2017. 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.