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BENEFIT PLANS: | 9 Months Ended
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Sep. 30, 2024
BENEFIT PLANS: |
BENEFIT PLANS: | NOTE 8 — BENEFIT PLANS: ​ Post retirement defined benefit plans: ​ The Company has two non-contributory defined benefit pension plans covering former salaried employees in the United States and certain former expatriate employees in Peru. Effective October 31, 2000, the Board of Directors amended the qualified pension plan to suspend the accrual of benefits. In addition, the Company’s Mexican subsidiaries have a defined contribution pension plan for salaried employees and a non-contributory defined benefit pension plan for union employees. ​ The components of net periodic benefit costs for the nine-month period ended September 30, 2024 and 2023 are as follows (in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | 2024 |  | 2023
Service cost | ​ | $ | 1.9 | ​ | $ | 1.6
Interest cost | ​ |  | 2.8 | ​ |  | 2.6
Expected return on plan assets | ​ |  | (4.7) | ​ |  | (4.2)
Amortization of prior service cost/(credit) | ​ |  | 0.2 | ​ |  | 0.1
Amortization of net loss/(gain) | ​ |  | 0.3 | ​ |  | 0.3
Net periodic benefit cost | ​ | $ | 0.5 | ​ | $ | 0.4
​ Post-retirement health care plans: ​ In Mexico, through 2007, the Buenavista unit provided health care services free of charge to employees and retired unionized employees and their families through its hospital at the Buenavista unit. In 2011, the Company signed an agreement with the Secretary of Health of the State of Sonora, which assumed the obligation to provide healthcare services to retired workers and their families. New employees at Buenavista del Cobre will receive health services from the Mexican Institute of Social Security, as is the case for all workers at our Mexican operations. ​ The components of net periodic benefit cost for the nine-month period ended September 30, 2024 and 2023 are as follows (in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | 2024 |  | 2023
Interest cost | ​ | $ | 1.5 | ​ | $ | 1.6
Amortization of net loss (gain) | ​ |  | — | ​ |  | —
Amortization of prior service cost/(credit) | ​ |  | (*) | ​ |  | (*)
Net periodic benefit cost | ​ | $ | 1.5 | ​ | $ | 1.6
​

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