Pension Plans

6 Months Ended

Jun. 28, 2019

NOTE 9. PENSION PLANS

For a full description of our noncontributory defined benefit pension plans refer to Note 11 of our 2018 Annual Report on Form 10-K.

The following sets forth the components of our net periodic pension costs associated with our noncontributory defined benefit pension plans ($ in millions):



	Three Months Ended						Six Months Ended
	June 28, 2019			June 29, 2018			June 28, 2019			June 29, 2018
U.S. Pension Benefits:
Interest cost	0.4			$	0.3		$	0.8		$	0.6
Expected return on plan assets	$	(0.3	)	(0.3		)	(0.7		)	(0.7		)
Net periodic pension cost	$	0.1		$	—		$	0.1		$	(0.1	)

Non-U.S. Pension Benefits:
Service cost	$	0.7		$	0.3		$	1.0		$	0.6
Interest cost	1.4			1.4			2.9			2.8
Expected return on plan assets	(1.5		)	(1.5		)	(2.9		)	(3.0		)
Amortization of net loss	0.7			0.7			1.4			1.4
Net curtailment and settlement loss recognized	—			0.2			—			0.4
Net periodic pension cost	$	1.3		$	1.1		$	2.4		$	2.2

We report all components of net periodic pension costs, with the exception of service costs, in other non-operating expenses as a component of non-operating income in the accompanying Consolidated Condensed Statements of Earnings. Service costs are reported in cost of sales and selling, general and administrative expenses in the accompanying Consolidated Condensed Statements of Earnings according to the classification of the participant’s compensation.

Employer Contributions

During 2019, our cash contribution requirements for our non-U.S. defined benefit pension plans are expected to be approximately $11.0 million. We do not expect to make contributions to the U.S. plan during 2019. The actual amounts to be contributed depend upon, among other things, legal requirements, underlying asset returns, the plan’s funded status, the anticipated tax deductibility of the contribution, local practices, market conditions, interest rates and other factors.