Retirement Benefits

9 Months Ended

Sep. 30, 2019

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,
	2019						2018
	U.S.			Non-U.S.			U.S.			Non-U.S.
Service cost	$	484		$	462		$	156		$	520
Interest cost	764			355			669			341
Expected return on plan assets	(801		)	(258		)	(991		)	(276		)
Settlement loss recognized	486			—			—			—
Net amortization	487			276			664			312
Net periodic benefit cost	$	1,420		$	835		$	498		$	897



	Pension Benefits
	Nine Months Ended September 30,
	2019						2018
	U.S.			Non-U.S.			U.S.			Non-U.S.
Service cost	$	901		$	1,386		$	665		$	1,592
Interest cost	2,292			1,081			1,975			1,053
Expected return on plan assets	(2,403		)	(784		)	(2,957		)	(848		)
Settlement loss recognized	486			—			—			—
Net amortization	1,460			840			2,034			964
Net periodic benefit cost	$	2,736		$	2,523		$	1,717		$	2,761



	Other Postretirement Benefits
	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Service cost	$	141		$	167		$	421		$	502
Interest cost	212			202			636			608
Net amortization	(159		)	(185		)	(476		)	(553		)
Net periodic benefit cost	$	194		$	184		$	581		$	557

The Company previously disclosed in its financial statements for the year ended December 31, 2018, that it expected to contribute approximately $0.6 million to its defined benefit plans and $1.1 million to its other postretirement benefit plans in 2019. During the first nine months of 2019, the Company contributed a total of $0.1 million to fund these plans.

Effective September 30, 2019, the IDEX Corporation Retirement Plan (“Plan”) was amended to freeze the accrual of retirement benefits for all participants. This action impacted fewer than 60 participants, as the Plan had been closed to new entrants and frozen as of December 31, 2005 for all but certain older, longer service participants. The overall financial impact of the freeze was to reduce the Plan liabilities by approximately $1.2 million. In addition, the Company recorded a settlement charge of $0.5 million which was recorded in Other (income) expense - net in the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2019.