Defined Benefit Plan

3 Months Ended

Mar. 31, 2017

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

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 are as follows (in thousands):



	Three Months Ended March 31,
	2017			2016
Service cost	$	241		$	290
Interest cost	56			61
Expected return on plan assets	(247		)	(291		)
Prior service cost amortization	36			37
Deferred loss amortization	—			60
Net periodic pension cost	$	86		$	157

Employer contributions of $0.2 million were paid during each of the three months ended March 31, 2017 and 2016. Additional employer contributions of approximately $0.4 million are expected to be paid during the remainder of fiscal 2017.