Pensions and Other Postretirement Benefits

6 Months Ended

Dec. 31, 2015

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

Pensions and Other Postretirement Benefits

12. Pensions and Other Postretirement Benefits

 

Defined Contribution Plans

We maintain a retirement savings plan available to U.S. employees that qualifies as a defined contribution plan under Section 401(k) of the Internal Revenue Code. We match 50% of the first 5% of the participants’ compensation invested by the employee in the 401(k) plan. We made matching contributions of $88 and $83 for the three months ended December 31, 2015 and 2014, respectively, and $212 and $220 for the six months ended December 31, 2015 and 2014, respectively.

We also maintain a defined contribution plan (the “Stakeholder Plan”) for our U.K. based employees. The Stakeholder Plan provides for discretionary matching contributions of between 4% and 7% of the employee’s salary. We contributed $12 and $14 to the Stakeholder Plan for the three months ended December 31, 2015 and 2014, respectively, and $26 and $28 for the six months ended December 31, 2015 and 2014, respectively.

Defined Benefit Plans

The following table provides the components of net periodic pension cost of our German defined benefit pension plans recognized in earnings for the three and six months ended December 31, 2015 and 2014:

	Three Months Ended December 31,				Six Months Ended December 31,
	2015		2014		2015		2014
Net Periodic Benefit Cost
Interest cost	$	24	$	33	$	48	$	68
Expected return on plan assets		(5)		(15)		(11)		(31)
Recognized actuarial loss		12		10		25		21
Net periodic benefit cost	$	31	$	28	$	62	$	58

We contributed $4 and $5 to our German defined benefit pension plans for the three months ended December 31, 2015 and 2014, respectively, and $8 and $11 for the six months ended December 31, 2015 and 2014, respectively. We expect to make additional, similar, quarterly contributions during the remaining quarters of our fiscal year 2016.