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PENSION PLAN

9 Months Ended

Sep. 30, 2018

11. PENSION PLAN

The Company’s Canadian subsidiary sponsors a defined benefit pension plan at one of its locations in which a majority of its employees are members. The subsidiary funds 100% of all contributions to the plan. The benefits, or the rate per year of credit service, are established by the Company and updated at its discretion.

The components of the expense the Company incurred under the pension plan are as follows:


	Three Months Ended September 30,						Nine Months Ended September 30,						Affected Line Item in the Statements of
	2018			2017			2018			2017			Consolidated Operations
Current service cost, net of employee contributions	$	14		$	10		$	45		$	35		Selling, general and administrative
Interest cost on accrued benefit obligation		24			27			74			79		Other expense
Expected return on plan assets		(42	)		(44	)		(127	)		(128	)	Other expense
Amortization of transitional obligation		3			3			6			9		Other expense
Amortization of past service costs		2			2			4			6		Other expense
Amortization of net actuarial gain		14			12			42			36		Other expense
Total cost of benefit	$	15		$	10		$	44		$	37

The Company’s policy is to fund the pension plan at or above the minimum level required by law. The Company made $58 and $56 of contributions to its defined benefit pension plan during the nine months ended September 30, 2018 and 2017, respectively. Changes in the discount rate and actual investment returns that are lower than the long-term expected return on plan assets could result in the Company making additional contributions.