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Pensions
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Mar. 31, 2015
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| Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pensions | PENSIONS The following table summarizes the components of net postretirement pension expense:
During the three months ended March 31, 2015 and 2014, the Company contributed $1.6 million and $1.5 million to its U.S. defined benefit plan, respectively, and $1.1 million and $0.4 million to its non-U.S. defined benefit plans, respectively. For the year ended December 31, 2015, the Company expects to contribute up to $7.8 million to the U.S. benefit plan and up to $1.2 million to the non-U.S. benefit plans. During the three months ended March 31, 2015, the Company repurchased all of the remaining shares of its common stock from its U.S benefit plan for a total cost of $3.6 million. The repurchases were made under the stock repurchase program further outlined in Note 9 – Stockholders’ Equity. At December 31, 2014, total assets of the U.S. benefit plan included 0.2 million of the Company’s common stock shares, valued at $3.6 million. The value of the shares was determined using quoted market prices (Level 1 input). |
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