Pension and Other Post-Retirement Benefit Plans

9 Months Ended

Sep. 30, 2014

Pension and Other Post-Retirement Benefit Plans

15. Pension and Other Post-Retirement Benefit Plans

We sponsor pension and other post-retirement benefit plans that cover certain hourly and salaried employees in the United States and United Kingdom. Our policy is to make annual contributions to the plans to fund the minimum contributions as required by local regulations. In addition, we have a post-retirement benefit plan for certain U.S. operations, retirees and their dependents.

The components of net periodic benefit cost related to the pension and other post-retirement benefit plans was as follows (in thousands):

	U.S. Pension Plans						Non-U.S. Pension Plans						Other Post-Retirement Benefit Plans
	Three Months Ended September 30,						Three Months Ended September 30,						Three Months Ended September 30,
	2014			2013			2014			2013			2014			2013
Service cost	$	24		$	22		$	—		$	—		$	—		$	—
Interest cost		472			427			471			476			(33	)		(62	)
Expected return on plan assets		(592	)		(443	)		(443	)		(420	)		—
Net periodic benefit cost	$	(96	)	$	6		$	28		$	56		$	(33	)	$	(62	)
	U.S. Pension Plans						Non-U.S. Pension Plans						Other Post-Retirement Benefit Plans
	Nine Months Ended September 30,						Nine Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013			2014			2013
Service cost	$	72		$	86		$	—		$	—		$	—		$	—
Interest cost		1,416			1,277			1,419			1,288			(99	)		(190	)
Expected return on plan assets		(1,776	)		(1,337	)		(1,318	)		(1,149	)		—
Net periodic benefit cost	$	(288	)	$	26		$	101		$	139		$	(99	)	$	(190	)

We previously disclosed in our financial statements for the year ended December 31, 2013, that we expect to contribute approximately $2.7 million to our pension plans and our other post-retirement benefit plans in 2014. As of September 30, 2014, approximately $2.2 million of contributions have been made to our pension plans.