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Retirement Plans
 6 Months Ended
Jul. 05, 2015
Compensation and Retirement Disclosure [Abstract]  
Retirement Plans
RETIREMENT PLANS
We provide defined-contribution benefits, as well as some remaining defined-benefit pension and other post-retirement benefits.
Net periodic cost associated with our defined-benefit pension and other post-retirement benefit plans for the three- and six-month periods ended July 5, 2015, and June 29, 2014, consisted of the following:

 
Pension Benefits
Other Post-retirement Benefits
Three Months Ended
July 5, 2015
 
June 29, 2014
July 5, 2015
 
June 29, 2014
Service cost
$
57

 
$
48

$
3

 
$
3

Interest cost
133

 
133

11

 
13

Expected return on plan assets
(174
)
 
(164
)
(8
)
 
(8
)
Recognized net actuarial loss
109

 
74

1

 
3

Amortization of prior service credit
(17
)
 
(17
)
(1
)
 
(1
)
Net periodic cost
$
108

 
$
74

$
6

 
$
10


 
Pension Benefits
Other Post-retirement Benefits
Six Months Ended
July 5, 2015
 
June 29, 2014
July 5, 2015
 
June 29, 2014
Service cost
$
114

 
$
96

$
6

 
$
6

Interest cost
266

 
266

22

 
26

Expected return on plan assets
(348
)
 
(328
)
(16
)
 
(16
)
Recognized net actuarial loss
219

 
148

3

 
5

Amortization of prior service credit
(34
)
 
(34
)
(2
)
 
(1
)
Net periodic cost
$
217

 
$
148

$
13

 
$
20



Our contractual arrangements with the U.S. government provide for the recovery of contributions to our pension and other post-retirement benefit plans covering employees working in our defense business groups. For non-funded plans, our government contracts allow us to recover claims paid. Following payment, these recoverable amounts are allocated to contracts and billed to the customer in accordance with the Cost Accounting Standards and specific contractual terms. For some of these plans, the cumulative pension and post-retirement benefit cost exceeds the amount currently allocable to contracts. To the extent recovery of the cost is considered probable based on our backlog and probable follow-on contracts, we defer the excess in contracts in process on the Consolidated Balance Sheets until the cost is allocable to contracts. See Note F for discussion of our deferred contract costs. For other plans, the amount allocated to contracts and included in revenues has exceeded the plans’ cumulative benefit cost. We have deferred recognition of these excess earnings to provide a better matching of revenues and expenses. These deferrals have been classified against the plan assets on the Consolidated Balance Sheets.