Postretirement and Other Employee Benefits

9 Months Ended

May 31, 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 nine months ended May 31, 2017 and 2016 (in thousands):
			Three months ended				Nine months ended
			May 31,		May 31,		May 31,		May 31,
			2017		2016		2017		2016
	Service cost		$	259	$	222	$	771	$	662
	Interest cost			744		1,208		2,222		3,693
	Expected long-term return on plan assets			(1,127)		(1,383)		(3,365)		(4,243)
	Recognized actuarial loss			479		264		1,422		790
	Amortization of prior service credit			(34)		(35)		(101)		(104)
	Net periodic benefit cost		$	321	$	276	$	949	$	798

During the nine months ended May 31,2017, the Company made contributions of approximately $6.4 million to its defined benefit pension plans. The Company expects to make total cash contributions of between $6.8 million and $7.6 million to its funded pension plans during the fiscal year ended August 31, 2017.