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Employee Benefit Plans
 6 Months Ended
Jun. 30, 2017
Compensation and Retirement Disclosure [Abstract]  
Employee Benefit Plans
EMPLOYEE BENEFIT PLANS
Defined Benefit Pension Plans
The Company sponsors defined benefit pension plans that cover certain U.S., Canadian, German and United Kingdom employees and which provide benefits of stated amounts for each year of service of the employee.
The Company uses a December 31 measurement date for the plans.
The following tables provide information regarding the Company’s defined benefit pension plans summarized by U.S. and international components.
 
U.S.
 
International
 
Three Months Ended
June 30,
 
Three Months Ended
June 30,
In thousands, except percentages
2017
 
2016
 
2017
 
2016
Net periodic benefit cost
 
 
 
 
 
 
 
Service cost
$
86

 
$
84

 
$
614

 
$
473

Interest cost
356

 
369

 
1,677

 
1,486

Expected return on plan assets
(433
)
 
(519
)
 
(2,910
)
 
(2,405
)
Net amortization/deferrals
248

 
229

 
685

 
620

Curtailment loss recognized
—

 
—

 
—

 
240

Net periodic benefit cost
$
257

 
$
163

 
$
66

 
$
414



 
U.S.
 
International
 
Six Months Ended
June 30,
 
Six Months Ended
June 30,
In thousands, except percentages
2017
 
2016
 
2017
 
2016
Net periodic benefit cost
 
 
 
 
 
 
 
Service cost
$
172

 
$
168

 
$
1,228

 
$
728

Interest cost
712

 
738

 
3,354

 
2,936

Expected return on plan assets
(866
)
 
(1,038
)
 
(5,820
)
 
(5,286
)
Net amortization/deferrals
496

 
458

 
1,370

 
1,055

Curtailment loss recognized
—

 
—

 
—

 
240

Net periodic benefit (credit) cost
$
514

 
$
326

 
$
132

 
$
(327
)


Assumptions
 
 
 
 
 
 
 
Discount Rate
3.95
%
 
4.21
%
 
2.51
%
 
3.56
%
Expected long-term rate of return
4.95
%
 
5.70
%
 
4.93
%
 
5.81
%
Rate of compensation increase
3.00
%
 
3.00
%
 
2.54
%
 
3.10
%


The Company’s funding methods are based on governmental requirements and differ from those methods used to recognize pension expense. The Company expects to contribute $7.1 million and $0.5 million to the international and U.S. plans, respectively, during 2017.
Post Retirement Benefit Plans
In addition to providing pension benefits, the Company has provided certain unfunded postretirement health care and life insurance benefits for a portion of North American employees. The Company is not obligated to pay health care and life insurance benefits to individuals who had retired prior to 1990.
The Company uses a December 31 measurement date for all post retirement plans.
The following tables provide information regarding the Company’s postretirement benefit plans summarized by U.S. and international components.
 
U.S.
 
International
 
Three Months Ended June 30,
 
Three Months Ended June 30,
In thousands, except percentages
2017
 
2016
 
2017
 
2016
Net periodic benefit cost
 
 
 
 
 
 
 
Service cost
$
1

 
$
1

 
$
7

 
$
7

Interest cost
88

 
97

 
24

 
25

Net amortization/deferrals
(73
)
 
(105
)
 
(7
)
 
(9
)
Net periodic benefit (credit) cost
$
16

 
$
(7
)
 
$
24

 
$
23


 
U.S.
 
International
 
Six Months Ended
June 30,
 
Six Months Ended
June 30,
In thousands, except percentages
2017
 
2016
 
2017
 
2016
Net periodic benefit cost
 
 
 
 
 
 
 
Service cost
$
2

 
$
2

 
$
14

 
$
14

Interest cost
176

 
194

 
48

 
50

Net amortization/deferrals
(146
)
 
(210
)
 
(14
)
 
(18
)
Net periodic (credit) benefit cost
$
32

 
$
(14
)
 
$
48

 
$
46


Assumptions
 
 
 
 
 
 
 
Discount Rate
3.76
%
 
3.95
%
 
3.46
%
 
3.90
%