Defined Benefit Plan

9 Months Ended

Sep. 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 September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Service cost	$	295		$	239		$	883		$	726
Interest cost	62			83			185			251
Expected return on plan assets	(296		)	(386		)	(885		)	(1,175		)
Prior service cost amortization	38			34			113			105
Deferred loss amortization	61			11			183			33
Net periodic pension cost (benefit)	$	160		$	(19	)	$	479		$	(60	)

Employer contributions of $0.1 million were paid during each of the three months ended September 30, 2016 and 2015. Employer contributions of $0.5 million were paid during each of the nine months ended September 30, 2016 and 2015. Additional employer contributions of approximately $0.1 million are expected to be paid during the remainder of fiscal 2016.