Pension Benefits and Other Postretirement Benefit Plans

3 Months Ended

Mar. 31, 2015

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

Pension Benefit and Other Postretirement Benefit Plans

Pension Benefits and Other Postretirement Benefit Plans

Components of Net Periodic Benefit Cost

The components of net periodic benefit cost (income) for the periods indicated are:

(Dollars in thousands)	Pension Benefits						Retirement Health and Life Insurance Benefits
	Quarter Ended						Quarter Ended
Change in benefit obligation:	March 31, 2015			March 31, 2014			March 31, 2015		March 31, 2014
Service cost	$	—		$	—		$	150	$	160
Interest cost	1,839			2,018			75		83
Expected return on plan assets	(2,771		)	(3,227		)	—		—
Amortization of prior service cost	—			—			—		—
Amortization of net loss	413			183			—		31
Settlement charge	—			110			—		—
Net periodic benefit cost (income)	$	(519	)	$	(916	)	$	225	$	274

In the first quarter of 2015, as part of the acquisition of Arlon, we acquired the The Hourly Employees Pension Plan of Arlon, LLC, Microwave Materials and Silicone Technologies Divisions, Bear, Delaware. This plan covers Arlon union employees and was frozen to new participants and accumulating benefits in 2006. As of the acquisition date, January 22, 2015, the funded status of the plan was a liability of $2.0 million. We have recorded this as part of our long term pension liability within our condensed consolidated statements of financial position.

In the first quarter of 2014, we made a one-time cash payment to a former employee of $0.8 million in accordance with the provisions of his retirement contract related to his participation in the Pension Restoration Plan. This payment resulted in a settlement charge of approximately $0.1 million, which was recognized in the first quarter of 2014.

Employer Contributions

In the first quarters of 2015 and 2014, we did not make any voluntary contributions to our qualified defined benefit pension plans.

We did not make any contributions to our non-qualified defined benefit pension plan for the quarter ended March 31, 2015. We made $0.8 million in contributions to our non-qualified defined benefit pension plan for quarter ended March 31, 2014.