Employee Benefit Plans

9 Months Ended

Oct. 03, 2015

Compensation and Retirement Disclosure [Abstract]

The Company sponsors a noncontributory defined benefit retirement plan for the benefit of eligible employees at its Kadant Solutions division and its corporate office (included in the table below under "Pension Benefits"). The Company also sponsors a restoration plan for the benefit of certain executive officers who also participate in the noncontributory defined benefit retirement plan (included in the table below under "Other Benefits"). In addition, employees at certain of the Company's subsidiaries participate in defined benefit retirement and post-retirement welfare benefit plans (included in the table below under "Other Benefits").

The components of the net periodic benefit cost for the pension benefits and other benefits plans are as follows:



	Three Months Ended October 3, 2015						Three Months Ended September 27, 2014
(In thousands)	Pension Benefits			Other Benefits			Pension Benefits			Other Benefits

Components of Net Periodic Benefit Cost:
Service cost	$	211		$	55		$	213		$	73
Interest cost	307			62			321			74
Expected return on plan assets	(356		)	(10		)	(370		)	(12		)
Recognized net actuarial loss	127			17			79			9
Amortization of prior service cost	15			22			14			22
Net periodic benefit cost	$	304		$	146		$	257		$	166

The weighted average assumptions used to determine net periodic benefit cost are as follows:

Discount rate	3.87		%	3.72		%	4.79		%	4.28		%
Expected long-term return on plan assets	5.25		%	—			5.75		%	—
Rate of compensation increase	3.00		%	2.98		%	3.50		%	3.23		%



	Nine Months Ended October 3, 2015						Nine Months Ended September 27, 2014
(In thousands)	Pension Benefits			Other Benefits			Pension Benefits			Other Benefits

Components of Net Periodic Benefit Cost:
Service cost	$	633		$	167		$	639		$	223
Interest cost	921			190			963			220
Expected return on plan assets	(1,068		)	(31		)	(1,110		)	(36		)
Recognized net actuarial loss	381			52			237			27
Amortization of prior service cost	42			68			42			67
Net periodic benefit cost	$	909		$	446		$	771		$	501

The weighted average assumptions used to determine net periodic benefit cost are as follows:

Discount rate	3.87		%	3.74		%	4.79		%	4.28		%
Expected long-term return on plan assets	5.25		%	—			5.75		%	—
Rate of compensation increase	3.00		%	2.99		%	3.50		%	3.23		%

The Company made cash contributions of $810,000 to its Kadant Solutions division's noncontributory defined benefit retirement plan in the first nine months of 2015 and expects to make cash contributions of $270,000 over the remainder of 2015. For the remaining pension and post-retirement welfare benefits plans, the Company does not expect to make cash contributions other than to fund current benefit payments.