9.Pensions

The Company sponsors several defined benefit pension plans covering some of its non-U.S. employees. Benefits under the defined benefit plans are based on years of service and eligible compensation. A majority of the Predecessor employees were participants in various defined benefit pension and other postretirement plans administered and sponsored by Dow. The amount of the unfunded pension liability is included in other noncurrent liabilities.

The following table summarizes changes in the funded status of the Company’s pension plans (in thousands):

Change in projected benefit obligation and plan assets:
Projected benefit obligation, August 1, 2015	$	686
Net periodic pension expense	128
Net actuarial gains	(32		)
Benefits paid	—

Projected benefit obligation, December 31, 2015	$	782
Plan assets	(48		)

Unfunded pension liability, December 31, 2015	$	734

The components of net periodic pension cost for the period August 1, 2015 through December 31, 2015 were as follows (in thousands):

Components of net periodic pension cost:
Service cost	$	122
Interest cost	6
Expected return on plan assets	—

Net periodic pension cost	$	128

The Company offers defined contribution plans to eligible employees in the U.S. whereby employees participate by contributing a portion of their compensation, which is partially matched by the Company. Contributions were allocated to the Predecessor based on headcount for the defined contribution plans in which the Predecessor’s employees participated. Total contributions for the Company’s employees were $0.4 million for the period of August 1, 2015 to December 31, 2015. Total contributions for Predecessor employees were $0.3 million, $0.4 million, and $0.3 million for the seven months ended July 31, 2015, and for the years ended December 31, 2014 and 2013, respectively.