XML 24 R14.htm IDEA: XBRL DOCUMENT v3.5.0.2
Retirement Plans
 6 Months Ended
Jul. 02, 2016
Compensation and Retirement Disclosure [Abstract]  
Retirement Plans
Retirement Plans

The components of the net periodic expense for the Company’s pension plans, supplemental executive retirement plans ("SERP") and other postretirement benefit plans ("OPEB") are as follows (in thousands):

 
 
For the Three Months Ended
 
For the Six Months Ended
 
 
July 2,
2016
 
June 27,
2015
 
July 2,
2016
 
June 27,
2015
Service cost
 
$
—

 
$
—

 
$
—

 
$
1

Interest cost
 
3,545

 
3,524

 
7,090

 
7,048

Expected return on plan assets
 
(4,775
)
 
(5,226
)
 
(9,550
)
 
(10,452
)
Net amortization and deferral
 
1

 
—

 
2

 
—

Recognized net actuarial loss
 
2,480

 
2,156

 
4,960

 
4,312

Net periodic expense
 
$
1,251

 
$
454

 
$
2,502

 
$
909



Interest cost on the projected benefit obligation includes $0.2 million related to the Company’s SERP and OPEB plans in each of the three months ended July 2, 2016 and June 27, 2015, and $0.3 million and $0.4 million for the six months ended July 2, 2016, and June 27, 2015, respectively.

For the six months ended July 2, 2016, the Company made total contributions of $0.6 million to its pension, SERP and OPEB plans. The Company expects to contribute approximately $1.5 million to its pension, SERP and OPEB plans for the remainder of 2016.