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EMPLOYEE BENEFIT PLANS
 9 Months Ended
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 not 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.