Pension Benefits

9 Months Ended

Sep. 30, 2018

Retirement Benefits [Abstract]

Pension Benefits

Note 9. Pension Benefits

Components of Net Periodic Pension Cost (in thousands):

	U.S. Pension Plans						Non-U.S. Pension Plans
	Three months ended September 30,						Three months ended September 30,
	2018			2017			2018			2017
Service cost	$	—		$	—		$	158		$	154
Interest cost		345			434			101			113
Return on assets (expected)		(62	)		(224	)		(68	)		(75	)
Amortization of net actuarial loss(gain)		253			138			—			—
Net periodic pension cost	$	536		$	348		$	191		$	192

	U.S. Pension Plans						Non-U.S. Pension Plans
	Nine months ended September 30,						Nine months ended September 30,
	2018			2017			2018			2017
Service cost	$	—		$	—		$	475		$	462
Interest cost		1,036			1,302			303			339
Return on assets (expected)		(186	)		(672	)		(205	)		(225	)
Amortization of net actuarial loss(gain)		759			414			—			—
Net periodic pension cost	$	1,609		$	1,044		$	573		$	576

Employer Contributions

All the amounts in the tables above, other than service cost, were recorded in Other (income) expense, net on the Consolidated Statements of Operations. No minimum funding contributions are required in 2018 under the Company’s U.S. defined benefit plan. For the three and nine months ending September 30, 2017, $1.4 million was contributed.

During the three and nine months ended September 30, 2018, the Company made a minimum funding contribution of $0.2 million and $1.7 million, respectively, related to its Taiwan pension plan. During the three and nine months ended September 30, 2017, the Company made a minimum funding contribution of $0.3 and $0.9 million, respectively, related to its Taiwan pension plan.

In late 2017, the Company commenced the process of terminating its U.S. defined benefit pension plan. In July 2018, the Company received a favorable IRS Letter of Determination approving the Plan’s termination. Election notices for participants not currently receiving a benefit are in process of distribution. Based on the most recently available information, the Company expects the final accumulated benefit obligation to approximate $21.5 million and intends to distribute all plan assets including earnings thereon, by the end of 2019. The plan's deferred actuarial losses remaining in accumulated other comprehensive income (loss) at that time will be recognized as expense.