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 $347 and an increase in other expense of $347 for the three months ended June 29, 2018 and a reduction of operating expense of $637 and an increase in other expense of $637 for the nine months ended June 29, 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 $47 and $1,043 for the three months ended June 29, 2018 and June 30, 2017, respectively, and contributions of $5,140 and $1,308 for the nine month periods ended June 29, 2018 and June 30, 2017, respectively.

The components of net periodic benefit cost related to Company sponsored defined benefit plans for the three and nine month periods ended June 29, 2018 and June 30, 2017 were as follows:



	Three Months Ended					Nine Months Ended
	June 29, 2018			June 30, 2017		June 29, 2018		June 30, 2017
Components of net periodic benefit cost:
Service cost	$	—		$	—	$	—	$	—
Interest on projected benefit obligation	272			215		794		783
Less estimated return on plan assets	(25		)	347		572		895
Amortization of unrecognized losses	50			265		415		548
Net periodic benefit cost	$	347		$	133	$	637	$	436