Note 9 - Pensions

3 Months Ended

Mar. 28, 2015

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

9. Pensions

The components of net periodic benefit cost for the three months ended March 28, 2015, compared with the three months ended March 29, 2014, were (in thousands):

	U.S. Plans						Foreign Plans
	Three Months Ended						Three Months Ended
	March 28, 2015			March 29, 2014			March 28, 2015			March 29 2014
Service cost	$	250		$	150		$	315		$	311
Interest cost		1,031			971			513			591
Expected return on plan assets		(916	)		(1,411	)		(600	)		(573	)
Amortization of net loss		290			137			61			48
Total cost of the plan		655			(153	)		289			377
Expected plan participants’contribution		—			—			—			—
Net periodic benefit cost	$	655		$	(153	)	$	289		$	377

The expected rate of return assumption on domestic pension assets is 3.90% and 6.75% in 2015 and 2014, respectively. The expected return on foreign pension assets is 5.39% and 5.14% in 2015 and 2014, respectively.

Plan Termination

The company received approval from the IRS on April 14, 2015 on its Application for Determination for Terminating Plan to terminate the U.S. defined benefit pension plan, the Littelfuse Inc. Retirement Plan, effective January 1, 2015. The current liability balance of $11.8 million at March 28, 2015, represents the projected cost to settle the plan’s liability in conjunction with the upcoming plan termination. Settlement is expected to occur during the third quarter of 2015.