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

Annual report pursuant to Section 13 and 15(d)

Employee Benefit Plans

Employee Benefit Plans

12 Months Ended

2017年6月30日

NOTE 11 — EMPLOYEE BENEFIT PLANS

KLA-Tencor has a profit sharing program for eligible employees, which distributes, on a quarterly basis, a percentage of the Company’s pre-tax profits. In addition, the Company has an employee savings plan that qualifies as a deferred salary arrangement under Section 401(k) of the Internal Revenue Code. Since April 1, 2011, the employer match amount was 50％第一个 $8,000 of an eligible employee’s contribution (i.e., a maximum of $ 4,000 ）在每个会计年度。

利润共享的总费用和401（k）计划汇总 1530万美元 , 1530万美元 and $14.2 million in the fiscal years ended 2017年6月30日 , 2016 and 2015 , respectively. The Company has no defined benefit plans in the United States. In addition to the profit sharing plan and the United States 401(k), several of the Company’s foreign subsidiaries have retirement plans for their full-time employees, several of which are defined benefit plans. Consistent with the requirements of local law, the Company deposits funds for certain of these plans with insurance companies, with third-party trustees or into government-managed accounts and/or accrues for the unfunded portion of the obligation. The assumptions used in calculating the obligation for the foreign plans depend on the local economic environment.

公司应用beplay官网ued权威指导，要求雇主承认其定义的养老金和退休后福利计划的资金状态为净资产或资产负债表的责任。此外，权威指导要求雇主在其年终财务状况声明之日起衡量其每个计划的资助状态。截至6月30日，该公司计划下的福利义务和相关资产已衡量beplay官网ued 2017 and 2016 .

Summary data relating to the Company’s foreign defined benefit pension plans, including key weighted-average assumptions used, is provided in the following tables:



	Year ended June 30,
(In thousands)	2017			2016
Change in projected benefit obligation:
预计的福利义务截至财政年度开始	$	89,923		$	75,928
Service cost	4,015			3,349
利息成本	1,117			1,322
Contributions by plan participants	76			163
精算损失	2,991			9,029
Benefit payments	(1363		)	(2,517		)
外币汇率变动等，净	506			2,649
预计的福利义务截至财政年度结束	$	97,265		$	89,923

	Year ended June 30,
(In thousands)	2017			2016
Change in fair value of plan assets:
Fair value of plan assets as of the beginning of the fiscal year	$	18,894		$	17,038
Actual return on plan assets	241			588
Employer contributions	3,330			4,330
Benefit and expense payments	(1363		)	(2,517		)
外币汇率变动等，净	678			(545		)
Fair value of plan assets as of the end of the fiscal year	$	21,780		$	18,894



	截至6月30日，
(In thousands)	2017		2016
资金不足的身份	$	75,485	$	71029年

	截至6月30日，
(In thousands)	2017		2016
超过计划资产的累积福利义务的计划：
Accumulated benefit obligation	$	56,967	$	53,198
Projected benefit obligation	$	97,265	$	89,923
Plan assets at fair value	$	21,780	$	18,894



	Year ended June 30,
	2017	2016	2015
加权平均的假设:
D是count rate	0.8%-1.9%	0.5%-2.0%	1.3%-2.0%
Expected rate of return on assets	1.5%-2.9%	1.8%-2.5%	1.8%-2.5%
Rate of compensation increases	3.0%-5.8%	3.0%-5.8%	3.0%-5.5%

预期资产收益率的假设是通过考虑与每个计划有效的国家和适用于相应计划的投资有关的未来收益的历史回报和期望来开发的。每个计划的折现率是通过参考高质量公司债券的适当基准收益率来得出的，这允许计划义务和相关基准指数的大约持续时间。

The following table presents losses recognized in accumulated other comprehensive income (loss) before tax related to the Company’s foreign defined benefit pension plans:



	Year ended June 30,
(In thousands)	2017		2016
Unrecognized transition obligation	$	190	$	108
未被认可的先前服务成本	51		113
Unrealized net loss	33,477		31,739
认可的损失量	$	33,718	$	31,960

Losses in accumulated other comprehensive income (loss) related to the Company’s foreign defined benefit pension plans expected to be recognized as components of net periodic benefit cost over the fiscal year ending 2018年6月30日如下面所述：



(In thousands)	Year ending 2018年6月30日
Unrecognized transition obligation	$	—
未被认可的先前服务成本	26
Unrealized net loss	1,436
预计将确认的损失量	$	1,462

The components of the Company’s net periodic cost relating to its foreign subsidiaries’ defined pension plans are as follows:



	Year ended June 30,
(In thousands)	2017			2016			2015
Components of net periodic pension cost:
Service cost	$	4,015		$	3,349		$	3,905
利息成本	1,117			1,322			1,562
Return on plan assets	(393		)	(406		)	(450		)
Amortization of transitional obligation	251			249			259
Amortization of prior service cost	46			46			46
Amortization of net loss	1,617			1,132			1,014
调整	—			—			(177		)
Net periodic pension cost	$	6,653		$	5,692		$	6,159

计划资产的公允价值

公允价值是从出售资产或支付的资产来转让市场参与者之间有序交易的责任的价格。注2“公允价值测量”中描述了用于衡量计划资产公允价值的三个级别的投入。

The foreign plans’ investments are managed by third-party trustees consistent with the regulations or market practice of the country where the assets are invested. The Company is not actively involved in the investment strategy, nor does it have control over the target allocation of these investments. These investments made up 100% 在财政年度结束的外国计划资产的总资产中 2017年6月30日 and 2016 .

The expected aggregate employer contribution for the foreign plans during the fiscal year ending 2018年6月30日是 $2.1 million .

The total benefits to be paid from the foreign pension plans are not expected to exceed $3.0 million in any year through the fiscal year ending June 30, 2027 .

以公允价值衡量的外国计划资产以以下投资类别为组成 2017年6月30日 and 2016 , respectively:



截至6月30日，2017(In thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
现金及现金等价物	$	13,784	$	13,784	$	—
Bonds, equity securities and other investments	7,996		—		7,996
Total assets measured at fair value	$	21,780	$	13,784	$	7,996

截至6月30日，2016(In thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
现金及现金等价物	$	11,950	$	11,950	$	—
Bonds, equity securities and other investments	6,944		—		6,944
Total assets measured at fair value	$	18,894	$	11,950	$	6,944

风险集中

公司经营beplay官网ued各种各样的风险,包括market, credit and liquidity risks, across its plan assets through its investment managers. The Company defines a concentration of risk as an undiversified exposure to one of the above-mentioned risks that increases the exposure of the loss of plan assets unnecessarily. The Company monitors exposure to such risks in the foreign plans by monitoring the magnitude of the risk in each plan and diversifying the Company’s exposure to such risks across a variety of instruments, markets and counterparties. As of June 30, 2017 ，该公司在任beplay官网ued何单一实体，经理，交易对手，行业，工业或国家 /地区都没有计划资产投资风险的集中度。