Postretirement and Other Employee Benefits

9 Months Ended

May. 31, 2015

Postretirement and Other Employee Benefits [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, The Netherlands, Poland, and Taiwan, 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 nine months ended May 31, 2015 and 2014 (in thousands):
			Three months ended				Nine months ended
			May 31,		May 31,		May 31,		May 31,
			2015		2014		2015		2014
	Service cost		$	256	$	314	$	803	$	935
	Interest cost			1,384		1,726		4,267		5,094
	Expected long-term return on plan assets			(1,440)		(1,562)		(4,431)		(4,600)
	Recognized actuarial loss			479		666		1,491		1,975
	Amortization of prior service cost			(35)		(62)		(114)		(185)
	Net periodic benefit cost		$	644	$	1,082	$	2,016	$	3,219

During the nine months ended May 31,2015, the Company made contributions of approximately $2.6 million to its defined benefit pension plans. The Company expects to make total cash contributions of between $3.4 million and $4.2 million to its funded pension plans during the fiscal year ended August 31, 2015.