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Employee Benefit Plans | 6 Months Ended
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Jul. 01, 2017
Compensation and Retirement Disclosure [Abstract] |
Employee Benefit Plans | Employee Benefit Plans The Company sponsors a noncontributory defined benefit pension plan for eligible employees at one of its U.S. divisions and its corporate office. Three of the Company’s non-U.S. subsidiaries also sponsor defined benefit pension plans covering certain employees at those subsidiaries. Funds for the U.S. pension plan and one of the non-U.S. pension plans are contributed to a trustee as necessary to provide for current service and for any unfunded projected benefit obligation over a reasonable period. The remaining two non-U.S. pension plans are unfunded as permitted under their plans and applicable laws. Benefits under the Company’s pension plans are based on years of service and employee compensation. The Company also provides other post-retirement benefits under two plans in the United States and at one of its non-U.S. subsidiaries. In addition, the Company provides a restoration plan for certain executive officers which fully supplements benefits lost under the noncontributory defined benefit retirement plan as a consequence of applicable Internal Revenue Service limits and restores benefits for the limitation of years of service under the retirement plan. The components of net periodic benefit cost for the Company's U.S. and non-U.S. pension plans and other post-retirement benefit plans are as follows:
|  | Three Months Ended July 1, 2017 |  | Three Months Ended July 2, 2016
(In thousands, except percentages) |  | U.S. Pension Benefits |  | Non-U.S. Pension Benefits |  | Other Post-Retirement Benefits |  | U.S. Pension Benefits |  | Non-U.S. Pension Benefits |  | Other Post-Retirement Benefits
Components of Net Periodic Benefit Cost: |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 147 |  |  | 33 |  |  | $ | 53 |  |  | $ | 181 |  |  | 27 |  |  | $ | 33 |
Interest cost |  | 302 |  |  | 26 |  |  | 45 |  |  | 318 |  |  | 26 |  |  | 38 |
Expected return on plan assets |  | (328 | ) |  | (9 | ) |  | — |  |  | (322 | ) |  | (7 | ) |  | — |
Recognized net actuarial loss |  | 108 |  |  | 9 |  |  | 27 |  |  | 124 |  |  | 10 |  |  | 12 |
Amortization of prior service cost |  | 13 |  |  | 1 |  |  | 23 |  |  | 14 |  |  | 1 |  |  | 22 |
Net Periodic Benefit Cost |  | $ | 242 |  |  | $ | 60 |  |  | $ | 148 |  |  | $ | 315 |  |  | $ | 57 |  |  | $ | 105 |
The weighted average assumptions used to determine net periodic benefit cost are as follows: |  |  |  |  |
Discount Rate |  | 4.03 | % |  | 3.47 | % |  | 4.11 | % |  | 4.22 | % |  | 3.88 | % |  | 4.30 | %
Expected Long-Term Return on Plan Assets |  | 5.00 | % |  | 7.72 | % |  | 7.72 | % |  | 5.00 | % |  | 6.90 | % |  | 6.90 | %
Rate of Compensation Increase |  | 3.00 | % |  | 3.44 | % |  | 3.06 | % |  | 3.00 | % |  | 2.98 | % |  | 3.03 | %
|  | Six Months Ended July 1, 2017 |  | Six Months Ended July 2, 2016
(In thousands, except percentages) |  | U.S. Pension Benefits |  | Non-U.S. Pension Benefits |  | Other Post-Retirement Benefits |  | U.S. Pension Benefits |  | Non-U.S. Pension Benefits |  | Other Post-Retirement Benefits
Components of Net Periodic Benefit Cost: |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 343 |  |  | $ | 65 |  |  | $ | 88 |  |  | $ | 362 |  |  | $ | 52 |  |  | $ | 66 |
Interest cost |  | 616 |  |  | 50 |  |  | 84 |  |  | 636 |  |  | 52 |  |  | 76 |
Expected return on plan assets |  | (663 | ) |  | (17 | ) |  | — |  |  | (644 | ) |  | (14 | ) |  | — |
Recognized net actuarial loss |  | 221 |  |  | 18 |  |  | 40 |  |  | 248 |  |  | 20 |  |  | 24 |
Amortization of prior service cost |  | 26 |  |  | 2 |  |  | 44 |  |  | 28 |  |  | 2 |  |  | 45 |
Settlement loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 114 |
Net Periodic Benefit Cost |  | $ | 543 |  |  | $ | 118 |  |  | $ | 256 |  |  | $ | 630 |  |  | $ | 112 |  |  | $ | 325 |
The weighted average assumptions used to determine net periodic benefit cost are as follows: |  |  |  |  |
Discount Rate |  | 4.03 | % |  | 3.43 | % |  | 4.12 | % |  | 4.22 | % |  | 3.89 | % |  | 4.27 | %
Expected Long-Term Return on Plan Assets |  | 5.00 | % |  | 7.72 | % |  | 7.72 | % |  | 5.00 | % |  | 6.90 | % |  | 6.90 | %
Rate of Compensation Increase |  | 3.00 | % |  | 3.42 | % |  | 3.07 | % |  | 3.00 | % |  | 2.99 | % |  | 3.02 | %
The Company made cash contributions of $540,000 to its U.S. noncontributory defined benefit pension plan in the first six months of 2017 and expects to make cash contributions of $540,000 over the remainder of 2017. For the remaining pension and post-retirement benefit plans, no cash contributions other than to fund current benefit payments are expected in 2017.

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