Employee Benefit Plans

6 Months Ended

Apr. 01, 2017

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

One of our German subsidiaries has a non-contributory, defined benefit retirement plan for eligible employees. This plan provides benefits based on the employee’s years of service and compensation during the years immediately preceding retirement, termination, disability or death, as defined in the plan. We use a September 30 measurement date for this defined benefit retirement plan.

We recognize the funded status of the defined benefit pension in our Consolidated Balance Sheet Statements, recognize changes in that funded status in the year in which the changes occur through comprehensive income and measure the plan’s assets and obligations that determine the plan’s funded status as of the end of our fiscal year.

Net periodic benefit costs for our defined benefit retirement plan included the following components:

	Three Months Ended						Six Months Ended
(in thousands)	April 1, 2017			April 2, 2016			April 1, 2017			April 2, 2016
Service cost	$	342		$	243		$	691		$	482
Interest cost	103			152			209			302
Expected return on plan assets	(260		)	(257		)	(526		)	(510		)
Net amortization and deferral	238			146			482			290
Net periodic benefit cost	$	423		$	284		$	856		$	564

The weighted average expected long-term rate of return on plan assets used to determine the net periodic benefit cost for each of the three and six months ended April 1, 2017 and April 2, 2016 was 5.5% and 5.5%, respectively.