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Pension and Postretirement Benefits | 9 Months Ended
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Sep. 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 September 30, |
|  | Pension |  |  | Postretirement Benefits |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  | (Dollars in Thousands) |
Service cost |  | $ | 7,911 |  |  | $ | 7,457 |  |  | $ | 19 |  |  | $ | 20 |
Interest cost |  |  | 8,307 |  |  |  | 9,729 |  |  |  | 130 |  |  |  | 182 |
Expected return on assets |  |  | (11,516 | ) |  |  | (10,691 | ) |  |  | — |  |  |  | — |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost (credit) |  |  | 27 |  |  |  | 34 |  |  |  | (519 | ) |  |  | (436 | )
Actuarial loss (gain) |  |  | 3,206 |  |  |  | 3,604 |  |  |  | (53 | ) |  |  | (91 | )
Settlement charge |  |  | 2,692 |  |  |  | — |  |  |  | — |  |  |  | — |
Net periodic benefit cost (credit) |  | $ | 10,627 |  |  | $ | 10,133 |  |  | $ | (423 | ) |  | $ | (325 | )
|  | Nine-Months Ended September 30, |
|  | Pension |  |  | Postretirement Benefits |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  | (Dollars in Thousands) |
Service cost |  | $ | 23,732 |  |  | $ | 20,060 |  |  | $ | 58 |  |  | $ | 60 |
Interest cost |  |  | 24,921 |  |  |  | 27,074 |  |  |  | 389 |  |  |  | 547 |
Expected return on assets |  |  | (34,549 | ) |  |  | (29,818 | ) |  |  | — |  |  |  | — |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost (credit) |  |  | 77 |  |  |  | 237 |  |  |  | (1,556 | ) |  |  | (1,307 | )
Actuarial loss (gain) |  |  | 9,621 |  |  |  | 10,643 |  |  |  | (158 | ) |  |  | (273 | )
Settlement charge |  |  | 2,692 |  |  |  | — |  |  |  | — |  |  |  | — |
Net periodic benefit cost (credit) |  | $ | 26,494 |  |  | $ | 28,196 |  |  | $ | (1,267 | ) |  | $ | (973 | )
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 the quarter ended September 30, 2018, the Company made $150,000,000 of discretionary contributions to its qualified pension plan. No additional contributions to the qualified pension plan are expected to be made for the remainder of 2018. The Company currently estimates that it will contribute a total of $12,400,000 for the year ending December 31, 2018 to satisfy required payments under the unfunded nonqualified 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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