Employee Benefit Plans

3 Months Ended

Apr. 05, 2020

EMPLOYEE BENEFIT PLANS

On December 31, 2019, a plan amendment was executed to eliminate future service accruals in the Dutch defined benefit plan, resulting in a curtailment of the plan. This plan remains in existence and will continue to pay vested benefits. Active participants will no longer accrue benefits after December 31, 2019, and instead will participate in an industry-wide multi-employer plan beginning in fiscal year 2020. During the three months ended April 5, 2020, the Company recorded multi-employer pension expense of $0.7 million related to multi-employer contributions.

The following tables provide the components of net periodic benefit cost for the three-month periods ended April 5, 2020 and March 31, 2019, respectively:



	Three Months Ended
Defined Benefit Retirement Plans (Europe)	April 5, 2020			March 31, 2019
	(In thousands)
Service cost	$	—		$	185
Interest cost	891			1,281
Expected return on assets	(1,064		)	(1,445		)
Amortization of prior service cost	26			16
Amortization of net actuarial losses	326			253
Net periodic benefit cost	$	179		$	290



	Three Months Ended
Salary Continuation Plan	April 5, 2020		March 31, 2019
	(In thousands)
Service cost	$	—	$	—
Interest cost	234		288
Amortization of net actuarial losses	140		94
Net periodic benefit cost	$	374	$	382



	Three Months Ended
Nora Defined Benefit Plan	April 5, 2020		March 31, 2019
	(In thousands)
Service cost	$	258	$	217
Interest cost	111		174
Net periodic benefit cost	$	369	$	391

In accordance with applicable accounting standards, the service cost component of net periodic benefit costs is presented within Operating Income in the consolidated condensed statement of operations, while all other components of net periodic benefit costs are presented within other expense in the consolidated condensed statement of operations.