Retirement Plans

9 Months Ended

Sep. 28, 2014

NOTE 4 – Retirement Plans

Net pension (income) expense for our domestic and foreign plans was as follows:

Net pension expense breakdown for our domestic and foreign plans include the following components:

Three months:


	Domestic Pension Plans						Foreign Pension Plans
	Three Months Ended						Three Months Ended
*($ in thousands)*	September 28, 2014			September 29, 2013			September 28, 2014			September 29, 2013
Service cost	$	48		$	648		$	21		$	28
Interest cost		3,052			2,711			156			134

Expected return on plan assets ⁽¹⁾		(5,209	)		(5,042	)		(172	)		(103	)
Amortization of prior service cost		—			138			—			—
Amortization of loss		1,408			1,921			59			98

(Income) expense, net	$	(701	)	$	376		$	64		$	157

Nine months:



	Domestic Pension Plans						Foreign Pension Plans
	Nine Months Ended						Nine Months Ended
*($ in thousands*)	September 28, 2014			September 29, 2013			September 28, 2014			September 29, 2013
Service cost	$	144		$	1,945		$	63		$	84
Interest cost		9,163			8,134			461			398
Expected return on plan assets ⁽¹⁾		(15,625	)		(15,127	)		(509	)		(305	)
Amortization of prior service cost		—			436			—			—
Amortization of loss		4,237			5,763			177			295
Other cost due to retirement		172			—			—			—

(Income) expense, net	$	(1,909	)	$	1,151		$	192		$	472

(1)

Expected return on plan assets is net of expected investment expenses and certain administrative expenses.

Net postretirement expense for our postretirement plan includes the following components:


	Three Months Ended					Nine Months Ended
*($ in thousands)*	September 28, 2014			September 29, 2013		September 28, 2014			September 29, 2013
Other postretirement benefit plan
Service cost	$	1		$	2	$	3		$	6
Interest cost		57			56		172			167
Amortization of gain		(39	)		—		(118	)		—

Postretirement expense	$	19		$	58	$	57		$	173

The entire disclosure for pension and other postretirement benefits.