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Retirement Benefits (Tables)
3 Months Ended
Jan. 30, 2015
Compensation And Retirement Disclosure [Abstract]  
Schedule of Net Periodic Pension Cost

The Company’s pension plans principally include a U.S. pension plan maintained by Esterline and a non-U.S. plan maintained by CMC Electronics, Inc. (CMC).  The Company also sponsors a number of other non-U.S. defined benefit pension plans, primarily in France and Germany.  In fiscal 2014, the Company offered vested terminated participants of its U.S. pension plan a one-time opportunity to elect a lump-sum payment from the plan in lieu of a lifetime annuity.  In the first fiscal quarter of 2015, the Company made a $16.6 million lump-sum payment to vested terminated pension plan participants from the plan, which resulted in an actuarial estimated settlement charge of $3.0 million.  The charge was recorded in selling, general and administrative expenses.  Components of periodic pension cost consisted of the following:

 

In Thousands

 

Three Months Ended

 

 

 

 

January 30,

 

 

January 31,

 

 

 

 

2015

 

 

2014

 

 

Components of Net Periodic Cost

 

 

Service cost

 

$

2,731

 

 

$

2,730

 

 

Interest cost

 

 

4,177

 

 

 

4,813

 

 

Expected return on plan assets

 

 

(6,474

)

 

 

(6,515

)

 

Settlement

 

 

2,991

 

 

 

-

 

 

Amortization of prior service cost

 

 

18

 

 

 

19

 

 

Amortization of actuarial (gain) loss

 

 

1,130

 

 

 

1,357

 

 

Net periodic cost (benefit)

 

$

4,573

 

 

$

2,404

 

 

 

Schedule of Net Periodic Post-Retirement Costs

The Company’s principal post-retirement plans include non-U.S. plans, which are non-contributory healthcare and life insurance plans.  The components of expense of these other retirement benefits consisted of the following:

 

In Thousands

 

Three Months Ended

 

 

 

 

January 30,

 

 

January 31,

 

 

 

 

2015

 

 

2014

 

 

Components of Net Periodic Cost

 

 

Service cost

 

$

220

 

 

$

235

 

 

Interest cost

 

 

141

 

 

 

189

 

 

Amortization of prior service cost

 

 

(11

)

 

 

(17

)

 

Amortization of actuarial (gain) loss

 

 

(25

)

 

 

(68

)

 

Net periodic cost (benefit)

 

$

325

 

 

$

339