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Employee Benefit Plans and Other Postretirement Benefits
 9 Months Ended
Sep. 30, 2021
Retirement Benefits [Abstract]  
Employee Benefit Plans and Other Postretirement Benefits

13. Employee Benefit Plans and Other Postretirement Benefits

The components of net periodic benefit cost for our pension plans were as follows (dollars in millions):

 

 

 

Pension Plans

 

 

 

Three Months Ended
September 30,

 

 

Nine Months Ended
September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Service cost

 

$

5.4

 

 

$

5.4

 

 

$

16.0

 

 

$

17.3

 

Interest cost

 

 

7.4

 

 

 

9.9

 

 

 

22.2

 

 

 

29.8

 

Expected return on plan assets

 

 

(15.8

)

 

 

(14.2

)

 

 

(47.3

)

 

 

(42.6

)

Net amortization of unrecognized amounts

 

 

 

 

 

 

 

 

 

 

 

 

Prior service cost

 

 

1.0

 

 

 

1.1

 

 

 

2.9

 

 

 

3.3

 

Actuarial loss

 

 

2.6

 

 

 

2.7

 

 

 

7.8

 

 

 

8.1

 

Net periodic benefit cost

 

$

0.6

 

 

$

4.9

 

 

$

1.6

 

 

$

15.9

 

 

PCA makes pension plan contributions that are sufficient to fund its actuarially determined costs, generally equal to the minimum amounts required by the Employee Retirement Income Security Act (ERISA). From time to time, PCA may make additional discretionary contributions based on the funded status of the plans, tax deductibility, income from operations, and other factors. During the three and nine months ended September 30, 2021 and 2020, payments to our nonqualified pension plans were insignificant. During both the three and nine months ended September 30, 2021, we made contributions of $50.0 million to our qualified pension plans, and for the three and nine months ended September 30, 2020, we made contributions of $71.4 million and $82.5 million, respectively, to our qualified pension plans. We do not have a required minimum contribution amount established for 2021, but we expect to make discretionary contributions to our plans.

For the three and nine months ended September 30, 2021 and 2020, the net periodic benefit cost for our postretirement plans was insignificant.