XML 28 R17.htm IDEA: XBRL DOCUMENT
v3.5.0.2

RETIREMENT FUND AND PROFIT SHARING PLAN | 9 Months Ended
--- | ---
Sep. 30, 2016
RETIREMENT FUND AND PROFIT SHARING PLAN [Abstract] |
RETIREMENT FUND AND PROFIT SHARING PLAN | 10. RETIREMENT FUND AND PROFIT SHARING PLAN The Company maintains the Bel Fuse Inc. Employees' Savings Plan, a defined contribution plan that is intended to meet the applicable requirements for tax-qualification under sections 401(a) and (k) of the Internal Revenue Code of 1986, as amended (the "Code"). The expense for the three months ended September 30, 2016 and 2015 amounted to $0.3 million in both periods. The expense for the nine months ended September 30, 2016 and 2015 amounted to $0.8 million and $0.9 million, respectively. As of September 30, 2016, the plan owned 13,928 and 164,462 shares of Bel Fuse Inc. Class A and Class B common stock, respectively. The Company's subsidiaries in Asia have a retirement fund covering substantially all of their Hong Kong based full-time employees. The expense for the three months ended September 30, 2016 and 2015 amounted to $0.1 million in both periods and the expense for the nine months ended September 30, 2016 and 2015 amounted to $0.2 million in both periods. As of September 30, 2016, the plan owned 3,323 and 17,342 shares of Bel Fuse Inc. Class A and Class B common stock, respectively. The Company maintains a SERP, which is designed to provide a limited group of key management and other key employees of the Company with supplemental retirement and death benefits. As discussed in Note 3 above, the Company has investments in a rabbi trust which are intended to fund the obligations of the SERP. The components of SERP expense are as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Service cost |  | $ | 148 |  |  | $ | 138 |  |  | $ | 445 |  |  | $ | 414 |
Interest cost |  |  | 165 |  |  |  | 142 |  |  |  | 494 |  |  |  | 425 |
Net amortization |  |  | 98 |  |  |  | 92 |  |  |  | 293 |  |  |  | 275 |
Net periodic benefit cost |  | $ | 411 |  |  | $ | 372 |  |  | $ | 1,232 |  |  | $ | 1,114 |
The following amounts are recognized net of tax in accumulated other comprehensive loss:
|  | September 30, |  |  | December 31, |
|  | 2016 |  |  | 2015 |
Prior service cost |  | $ | 730 |  |  | $ | 866 |
Net loss |  |  | 2,900 |  |  |  | 3,465 |
|  | $ | 3,630 |  |  | $ | 4,331 |

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 80 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65877416&loc=SL14450702-114947 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65897934&loc=d3e2410-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39675-114964 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 70 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 60 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66047640&loc=d3e39622-114963 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration