Postretirement and Other Employee Benefits

6 Months Ended

Feb. 28, 2017

Postretirement and Other Employee Benefits [Abstract]

Postretirement and Other Employee Benefits

9. 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 six months ended February 28, 2017 and February 29, 2016 (in thousands):
			Three months ended				Six months ended
			February 28,		February 29,		February 28,		February 29,
			2017		2016		2017		2016
	Service cost		$	253	$	218	$	512	$	440
	Interest cost			732		1,217		1,478		2,485
	Expected long-term return on plan assets			(1,109)		(1,397)		(2,238)		(2,860)
	Recognized actuarial loss			467		260		943		526
	Amortization of prior service credit			(33)		(34)		(67)		(69)
	Net periodic benefit cost		$	310	$	264	$	628	$	522

During the six months ended February 28,2017, the Company made contributions of approximately $1.5 million to its defined benefit pension plans. The Company expects to make total cash contributions of between $2.6 million and $3.4 million to its funded pension plans during the fiscal year ended August 31, 2017.