PENSION PLANS

The Company has non-contributory defined benefit pension plans covering certain of its U.S. employees. Retirement benefits are generally provided based on the employees’ years of service and average earnings. Normal retirement age is 65, with provisions for earlier retirement.

The Company has elected to adopt ASU 2017-07 at the beginning of the first quarter of fiscal 2018. The adoption of this standard resulted in a reduction of operating expense of $145 and an increase in other expense of $145 related to the application of this standard. There was no effect on the Company's condensed consolidated balance sheet or statement of cash flows as a result of adopting this standard.

The components of net periodic benefit cost related to Company sponsored defined benefit plans for the three month periods ended December 29, 2017 and December 30, 2016 were as follows:



	Three Months Ended
	December 29, 2017		December 30, 2016
Components of net periodic benefit cost:
Service cost	$	—	$	—
Interest on projected benefit obligation	261		284
Less estimated return on plan assets	298		274
Amortization of unrecognized losses	182		142
Net periodic benefit cost	$	145	$	152