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Retirement Benefits
 9 Months Ended
Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]  
Retirement Benefits
Retirement Benefits
The Company sponsors several qualified and nonqualified defined benefit and defined contribution pension plans and other postretirement plans for its employees. The following tables provide the components of net periodic benefit cost for its major defined benefit plans and its other postretirement plans.
 
 
 
 
 
 
 
 
 
Pension Benefits
 
Three Months Ended September 30,
 
2016
 
2015
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
Service cost
$
181

 
$
331

 
$
214

 
$
377

Interest cost
788

 
344

 
956

 
437

Expected return on plan assets
(1,233
)
 
(203
)
 
(1,186
)
 
(282
)
Net amortization
766

 
241

 
906

 
405

Net periodic benefit cost
$
502

 
$
713

 
$
890

 
$
937

 
Pension Benefits
 
Nine Months Ended September 30,
 
2016
 
2015
 
U.S.
 
Non-U.S.
 
U.S.
 
Non-U.S.
Service cost
$
769

 
$
934

 
$
965

 
$
1,134

Interest cost
2,282

 
1,049

 
2,831

 
1,305

Expected return on plan assets
(3,583
)
 
(642
)
 
(3,682
)
 
(838
)
Net amortization
2,420

 
722

 
2,585

 
1,334

Net periodic benefit cost
$
1,888

 
$
2,063

 
$
2,699

 
$
2,935


 
 
Other Postretirement Benefits
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Service cost
$
181

 
$
168

 
$
494

 
$
506

Interest cost
224

 
208

 
622

 
626

Net amortization
(154
)
 
(95
)
 
(462
)
 
(314
)
Net periodic benefit cost
$
251

 
$
281

 
$
654

 
$
818


The Company previously disclosed in its financial statements for the year ended December 31, 2015, that it expected to contribute approximately $6.1 million to its defined benefit plans and $0.9 million to its other postretirement benefit plans in 2016. As of September 30, 2016, the Company now expects to contribute $4.5 million to its defined benefit plans and $0.9 million to its other postretirement benefit plans in 2016. The Company contributed a total of $4.5 million during the first nine months of 2016 to fund these plans.
During the third quarter of 2016, the Company implemented a program offering certain former U.S. employees with a vested pension benefit an option to take a one-time lump sum distribution rather than future monthly pension payments. The Company expects to make approximately $8.0 million to $10.0 million in payments from the plans in connection with this action and to incur an estimated pre-tax settlement loss of $3.0 million to $6.0 million in the fourth quarter of 2016. However, since the final result of the offering is presently unknown, these amounts are subject to change.