Defined Benefit Pension Plans

3 Months Ended

Mar. 29, 2019

Defined Benefit Pension Plans And Defined Benefit Postretirement Plans Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure

Note 10 – Defined Benefit Pension Plans

The Company has defined benefit plans covering employees of its Switzerland and Japan operations.  The following table summarizes the components of net periodic pension cost recorded for the Company’s defined benefit pension plans (in thousands):

	Three Months Ended
	March 29, 2019			March 30, 2018
Service cost(1)	$	232		$	138
Interest cost		20			14
Expected return on plan assets		(33	)		(26	)
Net amortization of transitional obligation(2)		—			3
Prior service credit(2)		(6	)		(6	)
Actuarial loss recognized in current period(2)		32			28
Net periodic pension cost	$	245		$	151

⁽¹⁾ Recognized in selling general and administrative expenses on the Condensed Consolidated Statements of Income.

⁽²⁾ Amounts reclassified from accumulated other comprehensive income (loss).

The Company currently is not required to and does not make contributions to its Japan pension plan.  The Company’s contributions to its Swiss pension plan are as follows (in thousands):

	Three Months Ended
	March 29, 2019		March 30, 2018
Employer contribution	$	126	$	66