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Retirement Benefit Plans | 9 Months Ended
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Sep. 28, 2019
Retirement Benefits [Abstract] |
Retirement Benefit Plans | Retirement Benefit Plans The Company includes the service cost component of net periodic benefit cost in operating income and all other components are included in other expense, net in the accompanying condensed consolidated statement of income. The components of net periodic benefit cost are as follows:
|  | Three Months Ended September 28, 2019 |  | Three Months Ended September 29, 2018
(In thousands, except percentages) |  | U.S. Pension |  | Non-U.S. Pension |  | Other Post-Retirement |  | U.S. Pension |  | Non-U.S. Pension |  | Other Post-Retirement
Service Cost |  | $ | — |  |  | $ | 43 |  |  | $ | 1 |  |  | $ | 175 |  |  | $ | 35 |  |  | $ | 53 |
Interest Cost |  | 283 |  |  | 27 |  |  | 37 |  |  | 298 |  |  | 30 |  |  | 43 |
Expected Return on Plan Assets |  | (248 | ) |  | (16 | ) |  | (1 | ) |  | (322 | ) |  | (11 | ) |  | (1 | )
Recognized Net Actuarial Loss |  | 8 |  |  | 5 |  |  | 3 |  |  | 135 |  |  | 15 |  |  | 34 |
Amortization of Prior Service Cost |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | 22 |
|  | $ | 43 |  |  | $ | 59 |  |  | $ | 40 |  |  | $ | 286 |  |  | $ | 71 |  |  | $ | 151 |
The weighted average assumptions used to determine net periodic benefit cost are as follows: |  |  |  |  |
Discount Rate |  | 4.10 | % |  | 2.82 | % |  | 4.44 | % |  | 3.51 | % |  | 3.86 | % |  | 3.64 | %
Expected Long-Term Return on Plan Assets |  | 4.10 | % |  | 9.22 | % |  | 9.22 | % |  | 4.50 | % |  | 7.43 | % |  | 7.43 | %
Rate of Compensation Increase |  | — | % |  | 2.99 | % |  | 5.57 | % |  | 3.00 | % |  | 3.72 | % |  | 3.07 | %
|  | Nine Months Ended September 28, 2019 |  | Nine Months Ended September 29, 2018
(In thousands, except percentages) |  | U.S. Pension |  | Non-U.S. Pension |  | Other Post-Retirement |  | U.S. Pension |  | Non-U.S. Pension |  | Other Post-Retirement
Service Cost |  | $ | — |  |  | $ | 129 |  |  | $ | 3 |  |  | $ | 525 |  |  | $ | 106 |  |  | $ | 159 |
Interest Cost |  | 850 |  |  | 84 |  |  | 112 |  |  | 894 |  |  | 90 |  |  | 129 |
Expected Return on Plan Assets |  | (745 | ) |  | (50 | ) |  | (3 | ) |  | (966 | ) |  | (33 | ) |  | (3 | )
Recognized Net Actuarial Loss |  | 24 |  |  | 15 |  |  | 9 |  |  | 405 |  |  | 46 |  |  | 102 |
Amortization of Prior Service Cost |  | — |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | 66 |
|  | $ | 129 |  |  | $ | 178 |  |  | $ | 121 |  |  | $ | 858 |  |  | $ | 215 |  |  | $ | 453 |
The weighted average assumptions used to determine net periodic benefit cost are as follows: |  |  |  |  |
Discount Rate |  | 4.10 | % |  | 2.81 | % |  | 4.44 | % |  | 3.51 | % |  | 3.82 | % |  | 3.64 | %
Expected Long-Term Return on Plan Assets |  | 4.10 | % |  | 9.22 | % |  | 9.22 | % |  | 4.50 | % |  | 7.43 | % |  | 7.43 | %
Rate of Compensation Increase |  | — | % |  | 2.99 | % |  | 5.57 | % |  | 3.00 | % |  | 3.70 | % |  | 3.07 | %
In 2018, the Company's board of directors and its compensation committee approved amendments to freeze and terminate the Company's U.S. pension plan (Retirement Plan) and its restoration plan (Restoration Plan) as of December 29, 2018. In November 2019, the Company will finalize the settlement amount of its Retirement Plan obligation, which requires remeasurement at the settlement date based on the participants' elections to receive either a lump sum payment or an annuity, current discount rates, asset returns, and economic conditions. The Company expects to recognize a settlement loss of approximately $7,192,000 in the fourth quarter of 2019, which is calculated as the sum of the unrecognized actuarial loss and an estimated $5,144,000 of additional cash to be paid, less the accrued pension liability. The Company expects to settle liabilities under the Restoration Plan by paying a lump sum to plan participants of $2,370,000 in early 2020. The Company does not plan to make any material cash contributions to its other pension and post-retirement plans in 2019.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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