Defined Benefit Pension and Other Postretirement Benefit Plans
|9 Months Ended|
Dec. 31, 2019
|Retirement Benefits [Abstract]|
|Pension and Other Postretirement Benefits Disclosure [Text Block]||Defined Benefit Pension and Other Postretirement Benefit Plans
The Company sponsors twelve defined benefit pension plans: six in Europe, one in Singapore, two in Mexico, two in Japan, and one in Thailand. The Company funds the pension liabilities in accordance with laws and regulations applicable to those plans.
In addition, the Company maintains two frozen post-retirement benefit plans in the United States: health care and life insurance benefits for certain retired United States employees who reached retirement age while working for the Company. The health care plan is contributory, with participants’ contributions adjusted annually. The life insurance plan is non-contributory.
The balance sheet classifications and carrying amounts of the Company's pension and other post-retirement benefit plans at December 31, 2019 and March 31, 2019 consist of the following (amounts in thousands):
The components of net periodic benefit (income) costs relating to the Company’s pension and other post-retirement benefit plans for the three months ended December 31, 2019 and 2018 are as follows (amounts in thousands):
The components of net periodic benefit (income) costs relating to the Company’s pension and other post-retirement benefit plans for the nine months ended December 31, 2019 and 2018 are as follows (amounts in thousands):All of the amounts in the tables above, other than net service cost, were recorded in the line item "Other (income) expense, net" in our Condensed Consolidated Statements of Operations. In fiscal year 2020, the Company expects to contribute up to $5.1 million to the pension plans, $2.9 million of which has been contributed as of December 31, 2019. For the postretirement benefit plan, the Company’s policy is to pay benefits as costs are incurred.
The entire disclosure for pension and other postretirement benefits.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef