6. Pensions

The following table provides the components of net periodic pension cost of the plans:


	U.S. Plans								European Plans
	Three Months Ended June 30,				Six Months Ended June 30,				Three Months Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016		2017		2016		2017		2016
Service cost	$	218	$	220	$	480	$	478	$	126	$	94	$	248	$	186
Interest cost		1,096		1,127		2,206		2,297		238		300		468		597
Expected return on assets		(1,474)		(1,507)		(2,947)		(3,017)		(325)		(377)		(639)		(752)
Amortization of prior service credit		—		—		—		—		(2)		—		(4)		—
Net actuarial loss amortization		748		720		1,494		1,504		110		59		217		117
Settlement		—		680		—		680		—		—		—		—
Net periodic pension cost	$	588	$	1,240	$	1,233	$	1,942	$	147	$	76	$	290	$	148

Multi-Employer Plan

The Company also participates in a multi-employer plan in Europe which almost entirely relates to former employees of operations it has divested. Benefits are distributed by the multi-employer plan. The multi-employer plan reduced benefits to entitled parties, and the local Labor Court concluded that an employer was required to compensate its pensioners for the shortfall if benefits had been reduced. As a result, the Company has a liability for the past shortfall to its former employees, including a cost of living adjustment on the amounts paid by the multi-employer plan. As of June 30, 2017 and December 31, 2016, the Company had a $1.1 million and a $0.9 million liability recorded as a component of payroll and benefits payable within its condensed consolidated balance sheets for the past shortfall adjustments to its former employees, respectively. The Company cannot predict if future benefit payments to entitled parties to be made by the multi-employer plan will continue to be reduced.