XML 24 R14.htm IDEA: XBRL DOCUMENT v3.5.0.2
Retirement Plans
6 Months Ended
Jul. 02, 2016
Compensation and Retirement Disclosure [Abstract]  
Retirement Plans
Retirement Plans
The Company sponsors defined benefit pension plans for certain of its domestic employees (the “Domestic Plans”) and Canadian employees (the “Foreign Plans”). The Company also provides postretirement benefits other than pension (“OPEB plans”) for certain of its domestic and foreign employees at varies locations. The actuarial valuation measurement date for the defined pension plans and postretirement benefits other than pension is December 31of the relevant year.
Components of net periodic benefit cost for the Company’s pension and other postretirement benefit plans are as follows (in thousands):
 
Quarters Ended
 
July 2, 2016
 
July 4, 2015
 
Domestic
Plans
 
Foreign
Plans
 
OPEB Plans
 
Domestic
Plans
 
Foreign
Plans
 
OPEB Plans
Service cost
$
315

 
$
643

 
$
3

 
$
331

 
$
649

 
$
2

Interest cost
827

 
798

 
32

 
806

 
802

 
44

Expected return on assets
(854
)
 
(863
)
 

 
(973
)
 
(952
)
 

Amortization of unrecognized:
 
 
 
 
 
 
 
 
 
 
 
Prior service costs (credits)
3

 
6

 
(2
)
 
3

 
5

 
(2
)
Cumulative actuarial net loss (gains)
20

 
50

 
(46
)
 
104

 
60

 
(5
)
Net periodic benefit cost
$
311

 
$
634

 
$
(13
)
 
$
271

 
$
564

 
$
39

 
Six Months Ended
 
July 2, 2016
 
July 4, 2015
 
Domestic
Plans
 
Foreign
Plans
 
OPEB Plans
 
Domestic
Plans
 
Foreign
Plans
 
OPEB Plans
Service cost
$
631

 
$
1,263

 
$
6

 
$
662

 
$
1,290

 
$
6

Interest cost
1,654

 
1,568

 
63

 
1,612

 
1,593

 
87

Expected return on assets
(1,708
)
 
(1,695
)
 

 
(1,946
)
 
(1,890
)
 

Amortization of unrecognized:
 
 
 
 
 
 
 
 
 
 
 
Prior service costs (credits)
6

 
11

 
(4
)
 
6

 
11

 
(4
)
Cumulative actuarial net loss (gains)
41

 
99

 
(91
)
 
208

 
119

 
(10
)
Net periodic benefit cost
$
624

 
$
1,246

 
$
(26
)
 
$
542

 
$
1,123

 
$
79