XML 50 R24.htm IDEA: XBRL DOCUMENT v3.3.0.814
Post-Retirement Benefits
3 Months Ended
Sep. 30, 2015
Compensation And Retirement Disclosure [Abstract]  
Post-Retirement Benefits

Note 15.

Post-Retirement Benefits

The Company has a pension plan (the “Swiss Plan”) covering employees of the Zurich, Switzerland subsidiary. The unfunded pension liability of $7.2 million is recorded in Other liabilities in the Condensed Consolidated Balance Sheet at September 30, 2015.   Net periodic pension costs associated with the Swiss Plan included the following ($000):

 

 

 

Three Months Ended

 

 

 

September 30,

 

 

 

2015

 

 

2014

 

Service cost

 

$

683

 

 

$

680

 

Interest cost

 

 

111

 

 

 

181

 

Expected return on plan assets

 

 

(280

)

 

 

(270

)

Net amortization

 

 

46

 

 

 

(361

)

Net periodic pension costs

 

$

560

 

 

$

230

 

 

During the three months ended September 30, 2015, the Company contributed $0.5 million to the Swiss Plan.  The Company currently anticipates contributing an additional estimated amount of approximately $1.5 million to the Swiss Plan during the remainder of fiscal year 2016.