Employee Benefit Plans

9 Months Ended

Jul. 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 Sheets, 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						Nine Months Ended
(in thousands)	July 1, 2017			July 2, 2016			July 1, 2017			July 2, 2016
Service cost	$	356		$	246		$	1,047		$	728
Interest cost	108			153			317			455
Expected return on plan assets	(271		)	(259		)	(797		)	(769		)
Net amortization and deferral	249			147			731			437
Net periodic benefit cost	$	442		$	287		$	1,298		$	851

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 nine months ended July 1, 2017 and July 2, 2016 was 5.5%.