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Pension and Postretirement Benefits | 6 Months Ended
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Jun. 30, 2018
Compensation And Retirement Disclosure [Abstract] |
Pension and Postretirement Benefits |
9. | Pension and Postretirement Benefits
The estimated components of the recorded net periodic benefit cost (credit) for pension and postretirement benefits are as follows:
|  | Three-Months Ended June 30, |
|  | Pension |  |  | Postretirement Benefits |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  | (Dollars in Thousands) |
Service cost |  | $ | 7,684 |  |  | $ | 6,548 |  |  | $ | 16 |  |  | $ | 22 |
Interest cost |  |  | 8,252 |  |  |  | 8,673 |  |  |  | 134 |  |  |  | 198 |
Expected return on assets |  |  | (12,403 | ) |  |  | (10,071 | ) |  |  | — |  |  |  | — |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost (credit) |  |  | 26 |  |  |  | 113 |  |  |  | (426 | ) |  |  | (471 | )
Actuarial loss (gain) |  |  | 3,117 |  |  |  | 3,551 |  |  |  | (48 | ) |  |  | (99 | )
Net periodic benefit cost (credit) |  | $ | 6,676 |  |  | $ | 8,814 |  |  | $ | (324 | ) |  | $ | (350 | )
|  | Six-Months Ended June 30, |
|  | Pension |  |  | Postretirement Benefits |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  | (Dollars in Thousands) |
Service cost |  | $ | 15,832 |  |  | $ | 13,402 |  |  | $ | 38 |  |  | $ | 40 |
Interest cost |  |  | 16,613 |  |  |  | 18,030 |  |  |  | 259 |  |  |  | 365 |
Expected return on assets |  |  | (23,032 | ) |  |  | (20,613 | ) |  |  | — |  |  |  | — |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost (credit) |  |  | 52 |  |  |  | 155 |  |  |  | (1,037 | ) |  |  | (871 | )
Actuarial loss (gain) |  |  | 6,413 |  |  |  | 7,087 |  |  |  | (105 | ) |  |  | (182 | )
Net periodic benefit cost (credit) |  | $ | 15,878 |  |  | $ | 18,061 |  |  | $ | (845 | ) |  | $ | (648 | )
The service cost component of net periodic benefit cost (credit) is included in cost of revenues – products and services and selling, general and administrative expenses while all other components are included in other nonoperating income, net, in the consolidated statements of earnings and comprehensive earnings. In July 2018, the Company made a $75,000,000 contribution to its qualified pension plan. For the full year 2018, the Company currently estimates that it will contribute $162,400,000 to its pension plans, of which $150,000,000 will be to the qualified pension plan and $12,400,000 will be to make required payments under the unfunded pension plans.

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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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