XML 30 R20.htm IDEA: XBRL DOCUMENT v3.5.0.2
Retirement Plans
 9 Months Ended
Jun. 24, 2016
Compensation and Retirement Disclosure [Abstract]  
Retirement Plans
12.
Retirement Plans
The net periodic benefit cost for the Company's defined benefit pension plans was as follows:
 
Three Months Ended
 
Nine Months Ended
 
June 24,
2016
 
June 26,
2015
 
June 24,
2016
 
June 26,
2015
Service cost
$
0.9


$
1.2

 
$
2.9

 
$
3.6

Interest cost
4.2


4.4

 
12.6

 
13.3

Expected return on plan assets
(5.0
)

(5.8
)
 
(15.2
)
 
(17.3
)
Amortization of net actuarial loss
2.7


2.4

 
7.9

 
7.1

Amortization of prior service (credit)
(0.2
)

(0.2
)
 
(0.4
)
 
(0.6
)
Plan settlements
3.3

 
3.4

 
7.0

 
4.6

Net periodic benefit cost
$
5.9


$
5.4

 
$
14.8

 
$
10.7



The net periodic benefit credit for the Company's postretirement benefit plans for the three months ended June 24, 2016 and June 26, 2015 was approximately zero and $0.5 million, respectively, and for the nine months ended June 24, 2016 and June 26, 2015 was approximately $0.1 million and $1.5 million, respectively.
Net periodic benefit cost (credit) for the Company's defined benefit pension plans and postretirement benefit plans was included within cost of sales; research and development; and selling, general and administrative expenses on the unaudited condensed consolidated statements of income.

Pension Plan Termination
On March 31, 2016, the Company terminated six of its previously frozen U.S. pension plans. The Company is evaluating alternatives to settle the outstanding obligations of these pension plans, and expects final settlement to occur during fiscal 2017, subject to customary regulatory approvals. The Company's ultimate settlement obligation will depend upon the nature of participant settlements and the prevailing market conditions.