Defined Benefit Plans

3 Months Ended

Mar. 30, 2016

Compensation and Retirement Disclosure [Abstract]

The components of net periodic benefit cost were as follows:



	Quarter Ended
	March 30, 2016		April 1, 2015
	(In thousands)
Pension Plan:
Service cost	$	105	$	95
Interest cost	—		746
Expected return on plan assets	—		(877		)
Amortization of net loss	—		433
Net periodic benefit cost	$	105	$	397

Other Defined Benefit Plans:
Interest cost	$	23	$	27
Amortization of net loss	21		20
Net periodic benefit cost	$	44	$	47

During 2014, our Board of Directors approved the termination of the Advantica Pension Plan (the "Pension Plan") as of December 31, 2014. Subsequent to the quarter ended March 30, 2016, we completed the termination and liquidation of the Pension Plan. Accordingly, we contributed $9.5 million to the Pension Plan. The resulting $67.7 million in Pension Plan assets were used to make lump sum payments and purchase annuity contracts, which will be administered by a third-party provider. During the second quarter of 2016, we will recognize a settlement loss of approximately $24.3 million related to the liquidation, including the recognition of approximately $24.0 million in unamortized actuarial losses that are currently recorded in accumulated other comprehensive income. See Note 17.

We made no contributions to the Pension Plan during either the quarter ended March 30, 2016 or the quarter ended April 1, 2015. We made contributions of less than $0.1 million to our other defined benefit plans during both the quarter ended March 30, 2016 and the quarter ended April 1, 2015. We expect to contribute $0.1 million to our other defined benefit plans over the remainder of fiscal 2016.

Additional minimum pension liability, net of tax, of $22.8 million is reported as a component of accumulated other comprehensive loss in our Condensed Consolidated Statement of Shareholders’ Equity as of both March 30, 2016 and December 30, 2015.