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 September 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		$	103		$	4,008		$	4,216		$	—		$	—		4,149			4,319
Interest cost on projected benefit obligations	1,094			1,014			2,269			2,542			18			19			3,381			3,575
Expected return on plan assets	(1,684		)	(1,868		)	(7,910		)	(8,177		)	—			—			(9,594		)	(10,045		)
Recognition of prior service cost	—			—			(1,611		)	(1,288		)	(195		)	(469		)	(1,806		)	(1,757		)
Recognition of actuarial losses/(gains)	1,639			1,907			5,676			4,519			(474		)	(673		)	6,841			5,753
Net periodic pension cost/(credit)	$	1,190		$	1,156		$	2,432		$	1,812		$	(651	)	$	(1,123	)	$	2,971		$	1,845

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 nine months ended September 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	$	423		$	328		$	12,086		$	12,606		$	—		$	—		12,509			12,934
Interest cost on projected benefit obligations	3,282			3,414			6,294			7,967			54			57			9,630			11,438
Expected return on plan assets	(5,052		)	(5,912		)	(22,795		)	(25,020		)	—			—			(27,847		)	(30,932		)
Recognition of prior service cost	—			—			(4,439		)	(3,856		)	(585		)	(1,408		)	(5,024		)	(5,264		)
Recognition of actuarial losses/(gains)	4,917			5,699			16,657			13,585			(1,422		)	(2,019		)	20,152			17,265
Settlement charge	—			7,963			—			—			—			—			—			7,963
Net periodic pension cost/(credit)	$	3,570		$	11,492		$	7,803		$	5,282		$	(1,953	)	$	(3,370	)	$	9,420		$	13,404

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.