RETIREMENT AND DEFERRED COMPENSATION PLANS

9 Months Ended

Sep. 30, 2014

RETIREMENT AND DEFERRED COMPENSATION PLANS

RETIREMENT AND DEFERRED COMPENSATION PLANS

NOTE 5 – RETIREMENT AND DEFERRED COMPENSATION PLANS

Components of Net Periodic Benefit Cost:

	Domestic Plans						Foreign Plans
Three months ended September 30,	2014			2013			2014			2013
Service cost	$	2,011		$	2,135		$	1,043		$	974
Interest cost	1,482			1,248			676			668
Expected return on plan assets	(1,647		)	(1,443		)	(494		)	(454		)
Amortization of net loss	718			1,276			303			353
Amortization of prior service cost	--			--			78			93
Net periodic benefit cost	$	2,564		$	3,216		$	1,606		$	1,634
	Domestic Plans						Foreign Plans
Nine months ended September 30,	2014			2013			2014			2013
Service cost	$	6,032		$	6,405		$	3,203		$	2,902
Interest cost	4,446			3,744			2,074			1,991
Expected return on plan assets	(4,939		)	(4,331		)	(1,514		)	(1,353		)
Amortization of net loss	2,152			3,827			929			1,053
Amortization of prior service cost	--			2			239			278
Net periodic benefit cost	$	7,691		$	9,647		$	4,931		$	4,871

EMPLOYER CONTRIBUTIONS

Although the Company has no minimum funding requirement, the Company contributed $10.0 million to our U.S. plan during the third quarter and the first nine months of 2014 and does not expect to make any contribution to the U.S. plan in the last quarter of 2014.  The Company expects to contribute approximately $5.6 million to our foreign defined benefit plans in 2014 and, as of September 30, 2014, we have contributed approximately $2.0 million.