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EMPLOYEE BENEFIT PLANS | 9 Months Ended
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Jun. 30, 2019
Retirement Benefits [Abstract] |
EMPLOYEE BENEFIT PLANS | EMPLOYEE BENEFIT PLANS Components of Net Periodic Benefit Cost The following provides information at June 30, 2019 related to the Company-sponsored domestic defined benefit pension plan, the Helmerich & Payne, Inc. Employee Retirement Plan (the “Pension Plan”):
| Three Months Ended June 30, |  | Nine Months Ended June 30,
(in thousands) | 2019 |  | 2018 |  | 2019 |  | 2018
Interest cost | $ | 1,097 |  |  | $ | 1,013 |  |  | $ | 3,291 |  |  | $ | 3,041 |
Expected return on plan assets | (1,386 | ) |  | (1,386 | ) |  | (4,158 | ) |  | (4,158 | )
Recognized net actuarial loss | 291 |  |  | 461 |  |  | 874 |  |  | 1,382 |
Settlement | 1,548 |  |  | — |  |  | 1,548 |  |  | — |
Net pension expense | $ | 1,550 |  |  | $ | 88 |  |  | $ | 1,555 |  |  | $ | 265 |
According to ASC 960, Plan Accounting-Defined Benefit Pension Plans, if the lump sum distributions made during a plan year exceed the total of the projected service cost and interest cost for the plan year, settlement accounting is required. Lump sum payments exceeded this threshold during the three and nine months ended June 30, 2019. Accordingly, we recognized settlement expense of $1.5 million for the three and nine months ended June 30, 2019, in other expense within our Condensed Consolidated Statements of Operations. Employer Contributions We did no t contribute to the Pension Plan during the nine months ended June 30, 2019. We could make contributions for the remainder of fiscal year 2019 to fund distributions in lieu of liquidating assets.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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