Astronics Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Retirement Plans and Related Post Retirement Benefits (Tables)

Retirement Plans and Related Post Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2017

Assumptions Used to Calculate the Post Retirement Benefit Obligation

The assumptions used to calculate the accumulated post-retirement benefit obligation as of December 31 are as follows:



	2017	2016
Discount Rate	3.60%	4.20%

Reconciliation of Beginning and Ending Balances of Projected Benefit Obligation

The reconciliation of the beginning and ending balances of the accumulated postretirement benefit obligation for the years ended December 31, is as follows:



(In thousands)	2017			2016
Funded Status
Accumulated Postretirement Benefit Obligation
Beginning of the Year — January 1	$	1,021		$	925
Service Cost	7			5
Interest Cost	41			40
Actuarial (Gain) Loss	307			112
Benefits Paid	(69		)	(61		)
End of the Year — December 31	$	1,307		$	1,021

Summary of the Components of Net Periodic Cost

The following table summarizes the components of the net periodic cost for the years ended December 31:



(In thousands)	2017		2016		2015
Net Periodic Cost
Service Cost — Benefits Earned During Period	$	7	$	5	$	6
Interest Cost	41		40		39
Amortization of Prior Service Cost	16		24		26
Amortization of Losses	31		22		26
Net Periodic Cost	$	95	$	91	$	97

Assumptions Used to Determine the Net Periodic Cost

The assumptions used to determine the net periodic cost are as follows:



	2017	2016	2015
Discount Rate	4.20%	4.45%	4.05%
Future Average Healthcare Benefit Increases	5.50%	5.72%	5.32%

SERP