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Postretirement and Other Employee Benefits
6 Months Ended
Feb. 28, 2014
Compensation And Retirement Disclosure [Abstract]  
Postretirement and Other Employee Benefits

10. Postretirement and Other Employee Benefits

The Company sponsors defined benefit pension plans in several countries in which it operates. The pension obligations relate primarily to the following: (a) a funded retirement plan in the United Kingdom and (b) both funded and unfunded retirement plans mainly in Austria, France, Germany, Japan, The Netherlands, Poland, and Taiwan and which provide benefits based upon years of service and compensation at retirement.

The following table provides information about net periodic benefit cost for the pension plans during the three months and six months ended February 28, 2014 and 2013 (in thousands):

 

     Three months ended     Six months ended  
     February 28,
2014
    February 28,
2013
    February 28,
2014
    February 28,
2013
 

Service cost

   $ 312      $ 437      $ 621      $ 879   

Interest cost

     1,703        1,518        3,368        3,044   

Expected long-term return on plan assets

     (1,539     (1,312     (3,038     (2,635

Amortization of prior service cost

     (62     (7     (123     (13

Recognized actuarial loss

     659        627        1,309        1,249   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net periodic benefit cost

   $ 1,073      $ 1,263      $ 2,137      $ 2,524   
  

 

 

   

 

 

   

 

 

   

 

 

 

During the six months ended February 28, 2014, the Company made contributions of approximately $2.2 million to its defined benefit pension plans. The Company expects to make total cash contributions of between $3.6 million and $4.4 million to its funded pension plans during fiscal year 2014.