14. Employee Benefit Plans

Retirement Plans

The Company offers defined contribution retirement plans which cover the majority of its U.S. employees, as well as employees in certain other countries. In addition, the Company sponsors qualified defined benefit pension plans covering certain employees of the Company and its subsidiaries. The plans’ benefits are generally based on years of service and employee compensation. The Company also provides to certain management employees, through non-qualified plans, supplemental retirement benefits in excess of qualified plan limits imposed by federal tax law.

The following tables set forth the components of the Company’s net periodic expense relating to retirement benefit plans:

Qualified Defined Benefits



	Three Months Ended March 31,
	U.S. Plan						Non-U.S. Plans
	2015			2014			2015			2014
Service Cost	$	3,915		$	3,721		$	1,688		$	1,515
Interest Cost	5,791			6,314			1,486			1,983
Expected return on plan assets	(10,393		)	(10,398		)	(2,019		)	(2,029		)
Amortization:
Prior service cost	224			271			23			27
Recognized actuarial loss	3,155			2,072			675			221
Transition obligation	—			—			9			—
Curtailments, special termination benefits, and settlements ⁽¹⁾	810			—			2			3
Net periodic expense	$	3,502		$	1,980		$	1,864		$	1,720


(1)	One-time charges of $810 reflected in pension expense for the three months ended March 31, 2015 represents curtailments, special termination benefits, and settlements for certain businesses classified as held for sale; therefore, this amount has been reflected in the results of discontinued operations.

The net periodic expense reflected above for non-U.S. plans for the three months ended March 31, 2014 excludes certain non-U.S. plans sponsored by Knowles that were distributed as part of the separation on February 28, 2014. The historical expense relating to these plans was $59 for the three months ended March 31, 2014. The expense relating to these plans is reflected in earnings from discontinued operations.

Non-Qualified Supplemental Benefits



	Three Months Ended March 31,
	2015		2014
Service Cost	$	935	$	830
Interest Cost	1,266		1,537
Amortization:
Prior service cost	1,732		1,944
Recognized actuarial loss (gain)	71		(107		)
Net periodic expense	$	4,004	$	4,204

The net periodic expense for the three months ended March 31, 2015 for the Company's qualified and non-qualified defined benefit pension plans reflects the impact of lower discount rates, which resulted in higher amortization of actuarial losses for the current period.

Post-Retirement Plans

The Company also maintains post retirement benefit plans, although these plans are effectively closed to new entrants. The supplemental and post retirement benefit plans are supported by the general assets of the Company. The following table sets forth the components of the Company’s net periodic expense relating to its post-retirement benefit plans:



	Three Months Ended March 31,
	2015			2014
Service Cost	$	41		$	62
Interest Cost	128			157
Amortization:
Prior service cost	(93		)	(102		)
Recognized actuarial (gain) loss	(8		)	13
Net periodic expense	$	68		$	130

The total amount amortized out of accumulated other comprehensive income into net periodic benefit expense for the three months ended March 31, 2015 and 2014 totaled $5,788 and $4,339, respectively. The amortization included in other comprehensive income for the three months ended March 31, 2014 includes $61 relating to plans sponsored by Knowles that were transfered as part of the separation in 2014.

Defined Contribution Retirement Plans

The Company also offers defined contribution retirement plans which cover the majority of its U.S. employees, as well as employees in certain other countries. The Company’s expense relating to defined contribution plans was $9,006, and $8,377 for the three months ended March 31, 2015 and 2014.