Defined Benefit Plans

3 Months Ended

Mar. 31, 2013

Defined Benefit Plans

Defined Benefit Plans

11. Defined Benefit Plans

The Company sponsors funded and unfunded non-contributing defined benefit pension plans that together cover substantially all of its U.S. employees. Benefits are based primarily on years of service and employees’ compensation. The funding policy of the Company for these plans is to contribute an annual amount that does not exceed the maximum amount that can be deducted for federal income tax purposes.  On October 31, 2011, the Company’s Board of Directors voted to cease accruals effective December 31, 2011 under both the Company’s Pension Plan and Supplemental Employees Retirement Plan.

The components of net periodic benefit cost are as follows:

	First Quarter Ended
	March 31, 2013			April 1, 2012
	(in millions)
Service cost	$	0.1		$	0.2
Interest costs on benefits obligation	1.4			1.4
Expected return on assets	(1.7		)	(1.7		)
Net actuarial loss amortization	0.2			0.1
Net periodic benefit cost	$	—		$	—

The information related to the Company’s pension funds cash flow is as follows:

	First Quarter Ended
	March 31, 2013		April 1, 2012
	(in millions)
Employer contributions	$	0.2	$	0.2

The Company expects to contribute approximately $0.6 million to its pension plans for the remainder of 2013.