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 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 for the three months ended March 30, 2018 and a reduction of operating expense of $290 and an increase in other expense of $290 for the six months ended March 30, 2018. 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 Company made contributions to its pension plans of $5,047 and $145 for the three months ended March 30, 2018 and March 31, 2017, respectively, and contributions of $5,093 and $265 for the six month periods ended March 30, 2018 and March 31, 2017, respectively.

The components of net periodic benefit cost related to Company sponsored defined benefit plans for the three and six month periods ended March 30, 2018 and March 31, 2017 were as follows:



	Three Months Ended				Six Months Ended
	March 30, 2018		March 31, 2017		March 30, 2018		March 31, 2017
Components of net periodic benefit cost:
Service cost	$	—	$	—	$	—	$	—
Interest on projected benefit obligation	261		284		522		568
Less estimated return on plan assets	298		274		597		548
Amortization of unrecognized losses	182		141		365		283
Net periodic benefit cost	$	145	$	151	$	290	$	303