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Employee Benefit Plans
 9 Months Ended
Sep. 30, 2017
Compensation and Retirement Disclosure [Abstract]  
Employee Benefit Plans
EMPLOYEE BENEFIT PLANS
Defined Benefit Pension Plans
The Company sponsors defined benefit pension plans that cover certain U.S., Canadian, German and United Kingdom employees and which provide benefits of stated amounts for each year of service of the employee.
The Company uses a December 31 measurement date for the plans.
The following tables provide information regarding the Company’s defined benefit pension plans summarized by U.S. and international components.
 
U.S.
 
International
 
Three Months Ended September 30,
 
Three Months Ended September 30,
In thousands, except percentages
2017
 
2016
 
2017
 
2016
Net periodic benefit cost
 
 
 
 
 
 
 
Service cost
$
86

 
$
84

 
$
614

 
$
258

Interest cost
356

 
369

 
1,677

 
1,257

Expected return on plan assets
(433
)
 
(519
)
 
(2,910
)
 
(2,437
)
Net amortization/deferrals
248

 
229

 
685

 
397

Net periodic benefit cost
$
257

 
$
163

 
$
66

 
$
(525
)


 
U.S.
 
International
 
Nine Months Ended
September 30,
 
Nine Months Ended
September 30,
In thousands, except percentages
2017
 
2016
 
2017
 
2016
Net periodic benefit cost
 
 
 
 
 
 
 
Service cost
$
258

 
$
252

 
$
1,842

 
$
986

Interest cost
1,068

 
1,107

 
5,031

 
4,193

Expected return on plan assets
(1,299
)
 
(1,557
)
 
(8,730
)
 
(7,723
)
Net amortization/deferrals
744

 
687

 
2,055

 
1,452

Curtailment loss recognized
—

 
—

 
—

 
240

Net periodic benefit (credit) cost
$
771

 
$
489

 
$
198

 
$
(852
)


Assumptions
 
 
 
 
 
 
 
Discount Rate
3.95
%
 
4.21
%
 
2.51
%
 
3.56
%
Expected long-term rate of return
4.95
%
 
5.70
%
 
4.93
%
 
5.81
%
Rate of compensation increase
3.00
%
 
3.00
%
 
2.54
%
 
3.10
%


The Company’s funding methods are based on governmental requirements and differ from those methods used to recognize pension expense. The Company expects to contribute $7.1 million and $0.5 million to the international and U.S. plans, respectively, during 2017.
Post Retirement Benefit Plans
In addition to providing pension benefits, the Company has provided certain unfunded postretirement health care and life insurance benefits for a portion of North American employees. The Company is not obligated to pay health care and life insurance benefits to individuals who had retired prior to 1990.
The Company uses a December 31 measurement date for all post retirement plans.
The following tables provide information regarding the Company’s postretirement benefit plans summarized by U.S. and international components.
 
U.S.
 
International
 
Three Months Ended September 30,
 
Three Months Ended September 30,
In thousands, except percentages
2017
 
2016
 
2017
 
2016
Net periodic benefit cost
 
 
 
 
 
 
 
Service cost
$
1

 
$
1

 
$
7

 
$
7

Interest cost
88

 
97

 
24

 
25

Net amortization/deferrals
(73
)
 
(105
)
 
(7
)
 
(9
)
Net periodic benefit (credit) cost
$
16

 
$
(7
)
 
$
24

 
$
23


 
U.S.
 
International
 
Nine Months Ended
September 30,
 
Nine Months Ended
September 30,
In thousands, except percentages
2017
 
2016
 
2017
 
2016
Net periodic benefit cost
 
 
 
 
 
 
 
Service cost
$
3

 
$
3

 
$
21

 
$
21

Interest cost
264

 
291

 
72

 
75

Net amortization/deferrals
(219
)
 
(315
)
 
(21
)
 
(27
)
Net periodic (credit) benefit cost
$
48

 
$
(21
)
 
$
72

 
$
69


Assumptions
 
 
 
 
 
 
 
Discount Rate
3.76
%
 
3.95
%
 
3.46
%
 
3.90
%