) Retirement Benefits

The Company has defined benefit pension plans covering certain current and former employees both inside and outside of the U.S. The Company’s pension plan for U.S. employees is frozen for substantially all participants and has been replaced with a defined contribution benefit plan.

As of

July 1, 2018,

the Company adopted ASU

No.

2017

07,

Compensation-Retirement Benefits (Topic

715

): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost

. This new guidance required the service cost component of net periodic benefit cost to be presented in the same income statement line items as other employee compensation costs arising from services rendered during the period. Other components of the net periodic benefit cost are to be stated separately from service cost and outside of operating income. The retrospective adoption this ASU resulted in the reclassification of net benefit costs of

$0.2

million from cost of sales and

$0.4

million from the selling, general, and administrative expenses to other expense non-operating in the Consolidated Statement of Operations for the quarter ended

September 30, 2017.

There were

net benefit costs recorded in the Company’s Cooking Solutions Group in either fiscal years

2019

2018.

Net Periodic Benefit Cost for the Company’s U.S. and Foreign pension benefit plans for the

three

months ended

September 30, 2018

and

2017

consisted of the following components (in thousands):

	U.S. Plans						Non-U.S. Plans
	Three Months Ended						Three Months Ended
	September 30,						September 30,
	2018			2017			2018			2017
Service cost	$	1		$	1		$	9		$	9
Interest cost		2,586			2,520			254			254
Expected return on plan assets		(3,385	)		(3,354	)		(228	)		(231	)
Recognized net actuarial loss		1,030			1,145			86			229
Amortization of prior service cost		-			-			-			(8	)
Net periodic benefit cost	$	232		$	312		$	121		$	253

The Company expects to pay

$1.4

million in contributions to its defined benefit plans during fiscal

2019.

Contributions of

$0.3

million were made during the

three

months ended

September 30,

2018

and

2017.

Required contributions of

$0.8

million will be paid to the Company’s U.K. defined benefit plan during

2019.

The Company also expects to make contributions during the current fiscal year of

$0.2

million and

$0.3

million to its unfunded defined benefit plans in the U.S. and Germany, respectively.