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Pensions and Other Postretirement Benefits
6 Months Ended
Jun. 28, 2014
Pensions and Other Postretirement Benefits [Abstract]  
Pensions and Other Postretirement Benefits
Note 7 – Pensions and Other Postretirement Benefits

The Company maintains various retirement benefit plans.

The following table shows the components of the net periodic pension cost for the second fiscal quarters of 2014 and 2013 for the Company's defined benefit pension plans:

 
 
Fiscal quarter ended
June 28, 2014
  
Fiscal quarter ended
June 29, 2013
 
 
 
U.S. Plans
  
Non-U.S. Plans
  
U.S. Plans
  
Non-U.S. Plans
 
 
 
  
  
  
 
Net service cost
 
$
-
  
$
831
  
$
-
  
$
872
 
Interest cost
  
3,834
   
2,195
   
3,474
   
2,012
 
Expected return on plan assets
  
(4,058
)
  
(532
)
  
(4,586
)
  
(520
)
Amortization of prior service cost (credit)
  
(23
)
  
1
   
245
   
(8
)
Amortization of losses
  
1,810
   
691
   
3,507
   
828
 
Net periodic benefit cost
 
$
1,563
  
$
3,186
  
$
2,640
  
$
3,184
 

The following table shows the components of the net periodic pension cost for the six fiscal months ended June 28, 2014 and June 29, 2013 for the Company's defined benefit pension plans:

 
 
Six fiscal months ended
June 28, 2014
  
Six fiscal months ended
June 29, 2013
 
 
 
U.S. Plans
  
Non-U.S. Plans
  
U.S. Plans
  
Non-U.S. Plans
 
 
 
  
  
  
 
Net service cost
 
$
-
  
$
1,655
  
$
-
  
$
1,757
 
Interest cost
  
7,668
   
4,376
   
6,941
   
4,054
 
Expected return on plan assets
  
(8,116
)
  
(1,057
)
  
(9,562
)
  
(1,049
)
Amortization of prior service cost (credit)
  
(46
)
  
2
   
489
   
(17
)
Amortization of losses
  
3,620
   
1,378
   
7,465
   
1,667
 
Net periodic benefit cost
 
$
3,126
  
$
6,354
  
$
5,333
  
$
6,412
 

On May 21, 2014, Vishay announced that it will offer a special limited-time voluntary lump sum payment opportunity to certain former employees who are deferred vested participants of the Vishay Retirement Plan, Vishay's U.S. qualified pension plan, and who are not currently receiving periodic payments of their pension benefit.  The effects of the offer will depend on the number of participants that elect to receive a lump sum payment.

The following table shows the components of the net periodic benefit cost for the second fiscal quarters of 2014 and 2013 for the Company's other postretirement benefit plans:

 
 
Fiscal quarter ended
June 28, 2014
  
Fiscal quarter ended
June 29, 2013
 
 
 
U.S. Plans
  
Non-U.S. Plans
  
U.S. Plans
  
Non-U.S. Plans
 
 
 
  
  
  
 
Service cost
 
$
29
  
$
79
  
$
27
  
$
74
 
Interest cost
  
88
   
63
   
79
   
63
 
Amortization of prior service (credit)
  
(206
)
  
-
   
(199
)
  
-
 
Amortization of losses (gains)
  
(35
)
  
10
   
1
   
-
 
Net periodic benefit cost
 
$
(124
)
 
$
152
  
$
(92
)
 
$
137
 

The following table shows the components of the net periodic pension cost for the six fiscal months ended June 28, 2014 and June 29, 2013 for the Company's other postretirement benefit plans:

 
 
Six fiscal months ended
June 28, 2014
  
Six fiscal months ended
June 29, 2013
 
 
 
U.S. Plans
  
Non-U.S. Plans
  
U.S. Plans
  
Non-U.S. Plans
 
 
 
  
  
  
 
Service cost
 
$
58
  
$
158
  
$
55
  
$
148
 
Interest cost
  
176
   
126
   
157
   
127
 
Amortization of prior service (credit)
  
(412
)
  
-
   
(399
)
  
-
 
Amortization of losses (gains)
  
(70
)
  
20
   
2
   
-
 
Net periodic benefit cost
 
$
(248
)
 
$
304
  
$
(185
)
 
$
275