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PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
3 Months Ended
Mar. 31, 2014
General Discussion of Pension and Other Postretirement Benefits [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

The following tables are consolidated disclosures of all domestic and foreign defined pension plans as described in the Corporation’s 2013Annual Report on Form 10-K.  The postretirement benefits information includes the domestic Curtiss-Wright Corporation, Williams, and EMD postretirement benefit plans, as there are no foreign postretirement benefit plans.

Pension Plans

The components of net periodic pension cost for the three months ended March 31, 2014 and 2013 are as follows:

 
 
(In thousands)
 
 
Three Months Ended
 
 
March 31,
 
 
2014
 
2013
Service cost
 
$
6,370

 
$
10,819

Interest cost
 
7,544

 
6,735

Expected return on plan assets
 
(10,413
)
 
(8,886
)
Amortization of prior service cost
 
158

 
300

Amortization of unrecognized actuarial loss
 
1,483

 
4,272

Net periodic benefit cost
 
$
5,142

 
$
13,240



During the three months ended March 31, 2014, the Corporation made $7.8 million in contributions to the Curtiss-Wright Pension Plan, and expects to make total contributions of $40.0 million in 2014.  In addition, contributions of $0.7 million were made to the Corporation’s foreign benefit plans during the three months ended March 31, 2014.  Contributions to the foreign benefit plans are expected to be $3.4 million in 2014.

Other Postretirement Benefit Plans

The components of the Corporation's net postretirement benefit cost for the three months ended March 31, 2014 and 2013 are as follows:
 
 
Three Months Ended
 
 
March 31,
(In thousands)
 
2014
 
2013
Service cost
 
$
71

 
$
100

Interest cost
 
219

 
208

Amortization of prior service cost
 
(164
)
 
(157
)
Amortization of unrecognized actuarial gain
 
(203
)
 
(160
)
Net postretirement benefit cost (income)
 
$
(77
)
 
$
(9
)


During the three months ended March 31, 2014, the Corporation paid $0.4 million to the postretirement plans. During 2014, the Corporation anticipates contributing $1.7 million to the postretirement plans.

Defined Contribution Retirement Plan

Effective January 1, 2014, all non-union employees who are not currently receiving final or career average pay benefits became eligible to receive employer contributions in the Corporation's sponsored 401(k) plan. The employer contributions include both employer match and non-elective contribution components, up to a maximum employer contribution of 6% of eligible compensation.  During the three months ended March 31, 2014, the expense relating to the plan was $3.9 million.  The Corporation made $1.6 million in contributions to the plan for the first quarter, and expects to make total contributions of $7.0 million in 2014.