Note 6 - Benefit Plans

6 Months Ended

Jul. 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

and

six

months ended

July 1, 2017

and

July 2, 2016

are as follows: 

	For the Three Months Ended						For the Six Months Ended
(in thousands)	July 1, 201 7			July 2 , 201 6			July 1, 201 7			July 2, 2016
Components of net periodic benefit cost:
Service cost	$	408		$	333		$	816		$	665
Interest cost		360			496			720			993
Expected return on plan assets		(476	)		(520	)		(952	)		(1,040	)
Amortization of prior service (credit)		84			73			168			146
Total cost of the plan		376			382			752			764
Expected plan participants ’ contribution		—			—			—			—
Net periodic benefit cost	$	376		$	382		$	752		$	764

The expected return on pension assets is

4.5%

and

4.9%

in

2017

and

2016,

respectively.