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EMPLOYEE BENEFIT PLANS

3 Months Ended

Dec. 31, 2019

NOTE 15 EMPLOYEE BENEFIT PLANS

Components of Net Periodic Benefit Cost

The following provides information at December 31, 2019 and 2018, related to the Company-sponsored domestic defined benefit pension plan, the Helmerich & Payne, Inc. Employee Retirement Plan (the “Pension Plan”):



	Three Months Ended December 31,
(in thousands)	2019			2018
Interest cost	$	1,097		$	1,097
Expected return on plan assets	(1,381		)	(1,386		)
Recognized net actuarial loss	669			292
Net pension expense	$	385		$	3

Employer Contributions

We did not contribute to the Pension Plan during the three months ended December 31, 2019. For the remainder of fiscal year 2020, we do not expect minimum contributions required by law to be needed; however, we may make contributions during the remainder of fiscal year 2020 if needed to fund unexpected distributions in lieu of liquidating pension assets.