XML 36 R25.htm IDEA: XBRL DOCUMENT v3.4.0.3
Post-Retirement Benefits
9 Months Ended
Mar. 31, 2016
Compensation And Retirement Disclosure [Abstract]  
Post-Retirement Benefits

Note 16.

Post-Retirement Benefits

The Company has a pension plan (the “Swiss Plan”) covering employees of the Zurich, Switzerland subsidiary. The unfunded pension liability of $10.0 million is recorded in Other liabilities in the Condensed Consolidated Balance Sheet at March 31, 2016.   Net periodic pension costs associated with the Swiss Plan included the following ($000):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

March 31,

 

 

March 31,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Service cost

 

$

658

 

 

$

680

 

 

$

1,978

 

 

$

2,033

 

Interest cost

 

 

107

 

 

 

181

 

 

 

321

 

 

 

541

 

Expected return on plan assets

 

 

(269

)

 

 

(270

)

 

 

(810

)

 

 

(807

)

Net amortization

 

 

(22

)

 

 

28

 

 

 

41

 

 

 

(481

)

Net periodic pension costs

 

$

474

 

 

$

619

 

 

$

1,530

 

 

$

1,286

 

 

The Company contributed $0.5 million and $1.5 million to the Swiss Plan during the three and nine months ended March 31, 2016, respectively, and $0.6 million and $1.8 million during the three and nine months ended March 31, 2015, respectively. The Company currently anticipates contributing an additional estimated amount of approximately $0.5 million to the Swiss Plan during the remainder of fiscal year 2016.