Defined Benefit Plan

6 Months Ended

Jun. 30, 2016

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Defined Benefit Plan

Defined Benefit Plan

Maxwell SA has a retirement plan that is classified as a defined benefit pension plan. The employee pension benefit is based on compensation, length of service and credited investment earnings. The plan guarantees both a minimum rate of return as well as minimum annuity purchase rates. The Company’s funding policy with respect to the pension plan is to contribute the amount required by Swiss law, using the required percentage applied to the employee’s compensation. In addition, participating employees are required to contribute to the pension plan. This plan has a measurement date of December 31.

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

	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Service cost	$	297		$	245		$	587		$	487
Interest cost	62			85			123			169
Expected return on plan assets	(298		)	(396		)	(589		)	(788		)
Prior service cost amortization	38			36			75			71
Deferred loss amortization	62			11			122			22
Net periodic pension cost (benefit)	$	161		$	(19	)	$	318		$	(39	)

Employer contributions of $0.2 million were paid during each of the three months ended June 30, 2016 and 2015. Employer contributions of $0.3 million were paid during each of the six months ended June 30, 2016 and 2015. Additional employer contributions of approximately $0.2 million are expected to be paid during the remainder of fiscal 2016.