CLB 2018 Annual Report

F-21 2018 2017 Deferred tax asset $ 4,369 $ 2,564 Other long-term liabilities 7,398 10,253 Accumulated other comprehensive loss (5,650) (8,162) The components of net periodic pension cost for the Dutch Plan under this plan for the years ended December 31, 2018, 2017, and 2016 included (in thousands): 2018 2017 2016 Service cost $ 1,453 $ 1,494 $ 1,456 Interest cost 1,244 1,121 1,329 Expected return on plan assets (1,077) (950) (1,117) Administrative charges 37 — — Curtailment (1,219) — — Prior service cost (106) (77) (81) Unrecognized net actuarial loss 1,706 440 593 Net periodic pension cost $ 2,038 $ 2,028 $ 2,180 Plan assets at December 31, 2018 and 2017 consisted of insurance contracts with returns equal to the contractual rate, which are comparable with governmental debt securities. Our expected long-term rate of return assumptions are based on the weighted-average contractual rates for each contract. Dutch law dictates the minimum requirements for pension funding. Our goal is to meet these minimum funding requirements, while our insurance carrier invests to minimize risks associated with future benefit payments. Our 2019 minimum funding requirements are expected to be $0.8 million. Our estimate of future annual contributions is based on current funding requirements, and we believe these contributions will be sufficient to fund the plan. Expected benefit payments to eligible participants under this plan for the next five years are as follows (in thousands): 2019 $ 1,346 2020 $ 1,407 2021 $ 1,483 2022 $ 1,580 2023 $ 1,612 Succeeding five years $ 9,728 Defined Contribution Plans We maintain defined contribution plans for the benefit of eligible employees primarily in Canada, the Netherlands, the United Kingdom, and the United States. In accordance with the terms of each plan, we and our participating employees contribute up to specified limits and under certain plans, we may make discretionary contributions in accordance with the defined contribution plans. Our primary obligation under these defined contribution plans is limited to paying the annual contributions. For the years ended December 31, 2018, 2017 and 2016, we paid $4.3 million, $4.2 million and $6.1 million, respectively, for our contributions and our additional discretionary contributions to the defined contribution plans. Vesting in all employer contributions is accelerated upon the death of the participant or a change in control. Employer contributions under the plans are forfeited upon a participant’s termination of employment to the extent they are not vested at that time. Deferred Compensation Arrangements We have entered into deferred compensation contracts for certain key employees to provide additional retirement income to the participants. The benefit is determined by the contract for either a fixed amount or by a calculation using years of service or age at retirement along with the average of their base salary for the five years prior to retirement. We are not required to fund this arrangement; however, we have purchased life insurance policies with cash surrender values to assist us in providing the benefits pursuant to these deferred compensation contracts with the actual benefit payments made by Core Laboratories. The