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Defined Benefit Pension Plans (Tables)
3 Months Ended
Apr. 03, 2020
Defined Benefit Pension Plans And Defined Benefit Postretirement Plans Disclosure [Abstract]  
Schedule of Net Benefit Costs

 

The Company has defined benefit plans covering employees of its Switzerland and Japan operations.  The following table summarizes the components of net periodic pension cost recorded for the Company’s defined benefit pension plans (in thousands):

 

 

 

Three Months Ended

 

 

 

April 3, 2020

 

 

March 29, 2019

 

Service cost(1)

 

$

319

 

 

$

232

 

Interest cost(2)

 

 

11

 

 

 

20

 

Expected return on plan assets(2)

 

 

(43

)

 

 

(33

)

Prior service credit(2),(3)

 

 

(9

)

 

 

(6

)

Actuarial loss recognized in current period(2),(3)

 

 

79

 

 

 

32

 

Net periodic pension cost

 

$

357

 

 

$

245

 

 

(1)

Recognized in selling general and administrative expenses on the Condensed Consolidated Statements of Income.

(2)

Recognized in other income (expense), net on the Condensed Consolidated Statements of Income.

(3)

Amounts reclassified from accumulated other comprehensive income (loss).

Schedule of Defined Benefit Plans Disclosures

 

The Company currently is not required to and does not make contributions to its Japan pension plan.  The Company’s contributions to its Swiss pension plan are as follows (in thousands):

 

 

 

Three Months Ended

 

 

 

April 3, 2020

 

 

March 29, 2019

 

Employer contribution

 

$

175

 

 

$

126