Retirement Benefit Plans

6 Months Ended

Jun. 30, 2018

Retirement Benefits [Abstract]

Retirement Benefit Plans

Retirement Benefit Plans

Effective at the beginning of fiscal 2018, the Company retrospectively adopted ASU No. 2017-07. See Recently Adopted Accounting Pronouncements in Note 1 for further discussion. As a result, only the service cost component of net periodic benefit cost is included in operating income. All other components are included in other expense, net in the accompanying condensed consolidated statement of income. The components of net periodic benefit cost are as follows:

	Three Months Ended   June 30, 2018									Three Months Ended   July 1, 2017
(In thousands, except percentages)	U.S. Pension			Non-U.S. Pension			Other Post-Retirement			U.S. Pension			Non-U.S. Pension			Other Post-Retirement
Service Cost	$	175		$	35		$	53		$	147		$	33		$	53
Interest Cost	298			30			43			302			26			45
Expected Return on Plan Assets	(322		)	(11		)	(1		)	(328		)	(9		)	—
Recognized Net Actuarial Loss	135			15			34			108			9			27
Amortization of Prior Service Cost	—			2			22			13			1			23
	$	286		$	71		$	151		$	242		$	60		$	148
The weighted average assumptions used to determine net periodic benefit cost are as follows:
Discount Rate	3.51		%	3.80		%	3.64		%	4.03		%	3.47		%	4.11		%
Expected Long-Term Return on Plan Assets	4.50		%	7.43		%	7.43		%	5.00		%	7.72		%	7.72		%
Rate of Compensation Increase	3.00		%	3.69		%	3.07		%	3.00		%	3.44		%	3.06		%

	Six Months Ended   June 30, 2018									Six Months Ended   July 1, 2017
(In thousands, except percentages)	U.S. Pension			Non-U.S. Pension			Other Post-Retirement			U.S. Pension			Non-U.S. Pension			Other Post-Retirement
Service Cost	$	350		$	71		$	106		$	343		$	65		$	88
Interest Cost	596			60			86			616			50			84
Expected Return on Plan Assets	(644		)	(22		)	(2		)	(663		)	(17		)	—
Recognized Net Actuarial Loss	270			31			68			221			18			40
Amortization of Prior Service Cost	—			4			44			26			2			44
Net Periodic Benefit Cost	$	572		$	144		$	302		$	543		$	118		$	256
The weighted average assumptions used to determine net periodic benefit cost are as follows:
Discount Rate	3.51		%	3.80		%	3.64		%	4.03		%	3.43		%	4.12		%
Expected Long-Term Return on Plan Assets	4.50		%	7.43		%	7.43		%	5.00		%	7.72		%	7.72		%
Rate of Compensation Increase	3.00		%	3.69		%	3.07		%	3.00		%	3.42		%	3.07		%