Postretirement and Other Employee Benefits

9 Months Ended

May 31, 2016

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, 2016 and 2015 (in thousands):
			Three months ended				Nine months ended
			May 31,		May 31,		May 31,		May 31,
			2016		2015		2016		2015
	Service cost		$	222	$	256	$	662	$	803
	Interest cost			1,208		1,384		3,693		4,267
	Expected long-term return on plan assets			(1,383)		(1,440)		(4,243)		(4,431)
	Recognized actuarial loss			264		479		790		1,491
	Amortization of prior service cost			(35)		(35)		(104)		(114)
	Net periodic benefit cost		$	276	$	644	$	798	$	2,016

During the nine months ended May 31,2016, 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 $3.0 million and $3.8 million to its funded pension plans during the fiscal year ended August 31, 2016.