Employee Benefits

3 Months Ended

Mar. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Employee Benefits

Employee Benefits:

Pension and other defined contribution retirement plan expenses included the following components:

U.S. Plans	Three Months Ended March 31,
(DOLLARS IN THOUSANDS)	2015			2014
Service cost for benefits earned	$	984		$	885
Interest cost on projected benefit obligation	5,953			6,232
Expected return on plan assets	(8,083		)	(6,913		)
Net amortization and deferrals	5,203			4,255
Net periodic benefit cost	4,057			4,459
Defined contribution and other retirement plans	2,135			2,112
Total expense	$	6,192		$	6,571
Non-U.S. Plans	Three Months Ended March 31,
(DOLLARS IN THOUSANDS)	2015			2014
Service cost for benefits earned	$	4,383		$	3,948
Interest cost on projected benefit obligation	6,392			8,412
Expected return on plan assets	(12,950		)	(12,481		)
Net amortization and deferrals	3,486			2,955
Loss due to settlements and special terminations	—			—
Net periodic benefit cost	1,311			2,834
Defined contribution and other retirement plans	1,595			1,177
Total expense	$	2,906		$	4,011

The Company expects to contribute a total of approximately $30 million to its non-U.S. pension plans during 2015. During the three months ended March 31, 2015, $35.0 million of contributions were made to the qualified U.S. pension plans. In the three months ended March 31, 2015, $19.1 million of contributions were made to the non-U.S. plans. In the three months ended March 31, 2015, $1.1 million of benefit payments were made with respect to the Company’s non-qualified U.S. pension plan.

Expense recognized for postretirement benefits other than pensions included the following components:

	Three Months Ended March 31,
(DOLLARS IN THOUSANDS)	2015			2014
Service cost for benefits earned	$	300		$	323
Interest cost on projected benefit obligation	1,082			1,238
Net amortization and deferrals	(711		)	(978		)
Total postretirement benefit expense	$	671		$	583

The Company expects to contribute approximately $5 million to its postretirement benefits other than pension plans during 2015. In the three months ended March 31, 2015, $1.7 million of contributions were made.