Pension

3 Months Ended

Mar. 31, 2018

Retirement Benefits [Abstract]

Pension

3. Pension

In December 1995, the Company’s Board of Directors approved an amendment to the Company’s United States pension plan that terminated all future benefit accruals as of February 1, 1996, without terminating the pension plan.

In accordance with the adoption of ASU 2017-07, the Company has retrospectively revised the presentation of the non-service components of periodic pension cost of $22,000 to “Interest and other expense, net” in the condensed consolidated statement of operations for the three months ended March 31, 2017, while service cost remains in “Selling, general and administrative expense.”

Components of net periodic benefit cost are as follows (in thousands):

	Three Months Ended March 31,
	2018			2017
Service cost	$	9		$	9
Interest cost	$	10		$	14
Expected return on plan assets		(17	)		(20	)
Amortization of prior service costs		—			2
Amortization of actuarial loss		22			26
Total non-service cost	$	15		$	22
Net periodic pension cost	$	24		$	31

The Company’s funding policy with respect to its qualified plan is to contribute at least the minimum amount required by applicable laws and regulations. In 2018, the Company is not required to contribute to the plan. As of March 31, 2018, the Company had not made any contributions to the plan in 2018.