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EMPLOYEE BENEFIT PLANS
3 Months Ended
Apr. 02, 2016
Compensation and Retirement Disclosure [Abstract]  
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS

The Company maintains a defined contribution plan and two defined benefit plans. The two defined benefit plans include the OshKosh B'Gosh pension plan and a post-retirement life and medical plan.
    
OSHKOSH B'GOSH PENSION PLAN
    
The net periodic pension (benefit) cost included in the statement of operations was comprised of:
 
Fiscal quarter ended
(dollars in thousands)
April 2, 2016
 
April 4, 2015
Interest cost
$
629

 
$
623

Expected return on plan assets
(676
)
 
(785
)
Recognized actuarial loss
145

 
161

Net periodic pension (benefit) cost
$
98

 
$
(1
)



POST-RETIREMENT LIFE AND MEDICAL PLAN

The components of post-retirement benefit expense charged to the statement of operations were as follows:
 
Fiscal quarter ended
(dollars in thousands)
April 2, 2016
 
April 4, 2015
 
 
 
 
Service cost – benefits attributed to service during the period
$
31

 
$
32

Interest cost on accumulated post-retirement benefit obligation
44

 
45

Amortization net actuarial gain
(49
)
 
(48
)
Total net periodic post-retirement benefit cost
$
26

 
$
29




Simplified Measurement Date for Defined Benefit Plan Assets and Obligations
The Company adopted the provisions of ASU No. 2015-04, Practical Expedient for the Measurement Date of an Employer's Defined Benefit Obligation and Plan Assets ("ASU 2015-04") at the beginning of fiscal 2016. However, the Company is not required to make any such measurements until the end of fiscal 2016. ASU 2015-04 allows employers with fiscal year ends that do not coincide with a calendar month end to make an accounting policy election to measure defined benefit plan assets and obligations as of the end of the month closest to their fiscal year end (i.e., on an alternative measurement date). An employer that makes this election must consistently apply the alternative measurement date from year to year and to all of its defined benefit plans. The Company expects to make the accounting policy election to use December 31 as the measurement date for all of its defined benefit plan assets and obligations for fiscal 2016 and subsequent years. Measurement dates for prior periods will not be impacted. The Company does not expect the use of the alternative measurement date of December 31, 2016 to have a material impact on the Company's results of operations, financial condition, or cash flows.