Employer Sponsored Benefit Plans

As of September 30, 2017, the Company maintains a defined benefit pension plan that covers certain domestic Lydall employees (“domestic pension plan”) that is closed to new employees and benefits are no longer accruing. The domestic pension plan is noncontributory and benefits are based on either years of service or eligible compensation paid while a participant is in the plan. The Company’s funding policy is to fund not less than the ERISA minimum funding standard and not more than the maximum amount that can be deducted for federal income tax purposes.

Contributions of $1.2 million and $3.6 million were made during the quarter and nine months ended September 30, 2017, respectively. The Company does not expect to make any further contributions in the fourth quarter of 2017. Contributions of $3.6 million were made during the quarter and nine months ended September 30, 2016.

The following is a summary of the components of net periodic benefit cost, which is recorded primarily within selling, product development and administrative expenses, for the domestic pension plan for the quarters and nine months ended September 30, 2017 and 2016:



	Quarter Ended September 30,						Nine Months Ended September 30,
In thousands	2017			2016			2017			2016
Components of net periodic benefit cost
Interest cost	$	514		$	535		$	1,543		$	1,605
Expected return on assets	(594		)	(605		)	(1,782		)	(1,815		)
Amortization of actuarial loss	273			233			819			700
Net periodic benefit cost	$	193		$	163		$	580		$	490