NET PERIODIC BENEFIT COST

Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the three months ended June 30:



	U.S. Pension Benefits						Non-U.S. Pension Benefits						Other U.S. Post-retirement Benefits						Total
	2017			2016			2017			2016			2017			2016			2017			2016
Service cost, net	$	141		$	145		$	3,952		$	4,153		$	—		$	—		4,093			4,298
Interest cost on projected benefit obligations	1,094			1,072			2,053			2,673			18			19			3,165			3,764
Expected return on plan assets	(1,684		)	(1,945		)	(7,629		)	(8,341		)	—			—			(9,313		)	(10,286		)
Recognition of prior service cost	—			—			(974		)	(1,278		)	(195		)	(469		)	(1,169		)	(1,747		)
Recognition of actuarial losses/(gains)	1,639			1,902			5,058			4,563			(474		)	(673		)	6,223			5,792
Settlement charge	—			7,963			—			—			—			—			—			7,963
Net periodic pension cost/(credit)	$	1,190		$	9,137		$	2,460		$	1,770		$	(651	)	$	(1,123	)	$	2,999		$	9,784

Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the six months ended June 30:



	U.S. Pension Benefits						Non-U.S. Pension Benefits						Other U.S. Post-retirement Benefits						Total
	2017			2016			2017			2016			2017			2016			2017			2016
Service cost, net	$	282		$	262		$	7,976		$	8,383		$	—		$	—		8,258			8,645
Interest cost on projected benefit obligations	2,188			2,364			4,122			5,345			36			38			6,346			7,747
Expected return on plan assets	(3,368		)	(4,044		)	(15,014		)	(16,681		)	—			—			(18,382		)	(20,725		)
Recognition of prior service cost	—			—			(2,797		)	(2,556		)	(390		)	(938		)	(3,187		)	(3,494		)
Recognition of actuarial losses/(gains)	3,278			3,792			10,950			9,053			(948		)	(1,346		)	13,280			11,499
Settlement charge	—			7,963			—			—			—			—			—			7,963
Net periodic pension cost/(credit)	$	2,380		$	10,337		$	5,237		$	3,544		$	(1,302	)	$	(2,246	)	$	6,315		$	11,635

As previously disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2016, the Company expects to make employer contributions of approximately $19.4 million to its non-U.S. pension plans and employer contributions of approximately $0.5 million to its U.S. post-retirement medical plan during the year ended December 31, 2017. These estimates may change based upon several factors, including fluctuations in currency exchange rates, actual returns on plan assets and changes in legal requirements.

In February 2016 the Company offered former employees a one-time option to receive a lump sum distribution of their vested pension plan benefits. Based upon the eligible participant acceptance, $14.6 million was paid from plan assets to these former employees in the second quarter of 2016 with a corresponding decrease in the benefit obligation. The Company incurred a one-time non-cash settlement charge recorded in other charges (income), net during the second quarter of 2016 of approximately $8.2 million, of which $8.0 million, $4.9 million after tax, was reclassified from accumulated other comprehensive income.