Pension and Postretirement Benefits

9 Months Ended

Oct. 01, 2017

Pension and Postretirement Benefits (Thousands of Dollars) [Abstract]

Pension and Postretirement Benefits

(7) Pension and Postretirement Benefits

The components of the net periodic cost of the Company's defined benefit pension and other postretirement plans for the quarter and nine-month periods ended October 1, 2017 and September 25, 2016 are as follows:

	Quarter Ended
	Pension				Postretirement
	October 1,		September 25,		October 1,		September 25,
	2017		2016		2017		2016
Service cost	$	925		1,002		172		132
Interest cost		4,443		4,611		295		294
Expected return on assets		(5,896)		(5,512)		-		-
Net amortization and deferrals		2,525		2,134		-		-
Net periodic benefit cost	$	1,997		2,235		467		426

	Nine Months Ended
	Pension				Postretirement
	October 1,		September 25,		October 1,		September 25,
	2017		2016		2017		2016
Service cost	$	2,798		2,995		517		397
Interest cost		13,598		13,821		885		881
Expected return on assets		(18,057)		(16,523)		-		-
Net amortization and deferrals		7,738		6,398		-		-
Net periodic benefit cost	$	6,077		6,691		1,402		1,278

During the nine months ended October 1, 2017, the Company made cash contributions of $26,600 to its defined benefit pension plans. During fiscal 2017, the Company expects to make cash contributions to its defined benefit pension plans of approximately $29,000 in the aggregate.