Note 6 - Retirement Plans

3 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

6. Retirement Plans

The net periodic benefit cost for the Company’s pension plan consisted of:

	Three Months Ended
	June 30, 2018			July 1, 2017
	(In thousands)
Service Cost	$	2,442		$	1,981
Interest Cost		2,243			1,985
Expected Return on Plan Assets		(3,596	)		(3,482	)
Amortization of Prior Service Cost		30			-
Amortization of Net Gain		303			30
Net Periodic Benefit Cost	$	1,422		$	514

There was

no

contribution to the pension plan in the

three

month period ended

June 30, 2018

or

July 1, 2017. 

As required under ASU

2017

-

07,

which was implemented during the

first

quarter ended

June 30, 2018,

the service cost component is charged to inventories.  The balance of the pension related items totaling 

$1,020,000

and

$1,467,000

for the

three

month period ended

June 30, 2018

or

July 1, 2017,

respectively, related to the non-service cost portion of pension expense is included in Other Income in the Condensed Consolidated Statements of Net Loss.  In addition, the Company used the prior year's

first

quarter non-service cost  as the offset to Cost of Product Sold in the Condensed Consolidated Statements of Net Loss as allowed in the practical expedient described in ASU

2017

-

07.