Defined Benefit Pension and Other Postretirement Benefit Plans

6 Months Ended

Sep. 30, 2011

Defined Benefit Pension and Other Postretirement Benefit Plans

Defined Benefit Pension and Other Postretirement Benefit Plans

Note 7.  Defined Benefit Pension and Other Postretirement Benefit Plans

The Company sponsors defined benefit pension plans which include seven in Europe, one in Singapore and two in Mexico and a postretirement plan in the United States.  Costs recognized for these benefit plans are recorded using estimated amounts, which may change as actual costs for the fiscal year are determined.

The components of net periodic benefit costs relating to the Company’s pension and other postretirement benefit plans are as follows for the quarters ended September 30, 2011 and 2010 (amounts in thousands):

	Pension						Postretirement Benefit Plans
	Quarters Ended September 30,						Quarters Ended September 30,
	2011			2010			2011			2010
Net service cost	$	331		$	266		$	—		$	—
Interest cost	533			457			8			16
Expected return on net assets	(175		)	(164		)	—			—
Amortization:
Actuarial (gain) loss	96			31			(91		)	(79		)
Prior service cost	6			5			—			—
Total net periodic benefit (income) costs	$	791		$	595		$	(83	)	$	(63	)

The components of net periodic benefit costs relating to the Company’s pension and other postretirement benefit plans are as follows for the six month periods ended September 30, 2011 and 2010 (amounts in thousands):

	Pension						Postretirement Benefit Plans
	Six Months Ended September 30,						Six Months Ended September 30,
	2011			2010			2011			2010
Net service cost	$	663		$	532		$	—		$	—
Interest cost	1,067			914			22			31
Expected return on net assets	(350		)	(328		)	—			—
Amortization:
Actuarial (gain) loss	191			62			(162		)	(158		)
Prior service cost	12			10			—			—
Total net periodic benefit (income) costs	$	1,583		$	1,190		$	(140	)	$	(127	)

In fiscal year 2012, the Company expects to contribute up to $4.5 million to the pension plans of which the Company has contributed $0.5 million as of September 30, 2011.  The Company’s policy is to pay benefits as costs are incurred for the postretirement benefit plans.