Company: COHU
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001437749-25-004612
Chunk: 116

Company: COHU INC
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1
Chunk 116
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 participate in defined benefit retirement plans. Our largest defined benefit retirement plan is the Ismeca Europe Semiconductor BVG Pension Plan which covers our employees in Switzerland (“the Swiss Plan”) and the following discussion relates solely to the Swiss Plan, all other plans are not material to our financial statements.

Net periodic benefit cost of the Swiss Plan was as follows:

			(in thousands)

			2024

			2023

			2022

			Service cost

			$
			643

			$
			551

			$
			954

			Interest cost

			357

			510

			56

			Expected return on assets

			(283
			)

			(331
			)

			(128
			)

			Settlements

			(277
			)

			(177
			)

			(487
			)

			Net periodic costs

			$
			440

			$
			553

			$
			395

69

			COHU, INC.

			NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following table sets forth the projected benefit obligation, the fair value of plan assets, the funded status and the liability we have recorded in our consolidated balance sheets related to the Swiss Plan:

			(in thousands)

			2024

			2023

			Change in projected benefit obligation:

			Benefit obligation at beginning of year

			$
			(24,884
			)
			 
			$
			(21,628
			)

			Service cost

			(643
			)

			(551
			)

			Interest cost

			(357
			)

			(510
			)

			Actuarial gain (loss)

			79

			(1,391
			)

			Participant contributions

			(988
			)

			(1,153
			)

			Benefits paid

			599

			385

			Plan change

			203

			-

			Settlements

			2,820

			2,177

			Foreign currency exchange adjustment

			1,660

			(2,213
			)

			Benefit obligation at end of year

			(21,511
			)