XML 44 R17.htm IDEA: XBRL DOCUMENT v3.3.0.814
Net Periodic Benefit Cost
9 Months Ended
Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]  
NET PERIODIC BENEFIT COST
NET PERIODIC BENEFIT COST
Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the three months ended September 30:
 
U.S. Pension Benefits
 
Non-U.S. Pension Benefits
 
Other U.S. Post-retirement Benefits
 
Total
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Service cost, net
$
211

 
$
223

 
$
4,772

 
$
3,856

 
$

 
$
43

 
$
4,983

 
$
4,122

Interest cost on projected benefit obligations
1,607

 
1,599

 
3,554

 
5,380

 
35

 
60

 
5,196

 
7,039

Expected return on plan assets
(2,395
)
 
(2,137
)
 
(9,228
)
 
(9,372
)
 

 

 
(11,623
)
 
(11,509
)
Recognition of prior service cost

 

 
(1,675
)
 
(1,009
)
 
(469
)
 
(195
)
 
(2,144
)
 
(1,204
)
Recognition of actuarial losses/(gains)
1,906

 
1,200

 
3,756

 
1,082

 
(843
)
 
(359
)
 
4,819

 
1,923

Net periodic pension cost/(credit)
$
1,329

 
$
885

 
$
1,179

 
$
(63
)
 
$
(1,277
)
 
$
(451
)
 
$
1,231

 
$
371



Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the nine months ended September 30:

 
U.S. Pension Benefits
 
Non-U.S. Pension Benefits
 
Other U.S. Post-retirement Benefits
 
Total
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Service cost, net
$
628

 
$
669

 
$
14,228

 
$
11,741

 
$

 
$
129

 
$
14,856

 
$
12,539

Interest cost on projected benefit obligations
4,823

 
4,797

 
10,623

 
16,383

 
104

 
180

 
15,550

 
21,360

Expected return on plan assets
(7,183
)
 
(6,411
)
 
(27,867
)
 
(28,512
)
 

 

 
(35,050
)
 
(34,923
)
Recognition of prior service cost

 

 
(3,632
)
 
(3,079
)
 
(1,408
)
 
(585
)
 
(5,040
)
 
(3,664
)
Recognition of actuarial losses/(gains)
5,720

 
3,600

 
11,393

 
3,272

 
(2,528
)
 
(1,077
)
 
14,585

 
5,795

Net periodic pension cost/(credit)
$
3,988

 
$
2,655

 
$
4,745

 
$
(195
)
 
$
(3,832
)
 
$
(1,353
)
 
$
4,901

 
$
1,107



As previously disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2014, the Company expects to make employer contributions of approximately $19.6 million to its non-U.S. pension plans and employer contributions of approximately $0.7 million to its U.S. post-retirement medical plan during the year ended December 31, 2015. These estimates may change based upon several factors, including fluctuations in currency exchange rates, actual returns on plan assets and changes in legal requirements.