Pension

9 Months Ended

Sep. 30, 2019

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.

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Service cost	$	9		$	7		$	27		$	25
Interest cost	$	9		$	10		$	27		$	30
Expected return on plan assets		(14	)		(17	)		(43	)		(51	)
Amortization of actuarial loss		22			21			64			65
Total non-service cost	$	17		$	14		$	48		$	44
Net periodic pension cost	$	26		$	21		$	75		$	69

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. The Company made its required contribution of $14,413 to the plan in the three and nine months ended September 30, 2019.