Note 6 - Benefit Plans

3 Months Ended

Apr. 01, 2017

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

6

. Benefit Plans

The Company has company-sponsored defined benefit pension plans covering employees in the U.K., Germany, the Philippines, China, Japan, and France. The amount of the retirement benefits provided under the plans is based on years of service and final average pay.

The components of net periodic benefit cost for the

three

months ended

April

1,

2017

and

April

2,

2016

are as follows: 

	For the Three Months Ended
(in thousands )	April 1, 2017			April 2, 2016
Components of net periodic benefit cost:
Service cost	$	408		$	332
Interest cost		360			497
Expected return on plan assets		(476	)		(520	)
Amortization of prior service (credit)		84			73
Total cost of the plan		376			382
Expected plan participants’ contribution		—			—
Net periodic benefit cost	$	376		$	382

The expected return on pension assets is

4.5%

and

4.9%

in

2017

and

2016,

respectively.