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Pension Plans and Postretirement Benefits
 6 Months Ended
Jun. 30, 2018
Defined Benefit Plan [Abstract]  
Pension Plans and Postretirement Benefits
PENSION PLANS AND POSTRETIREMENT BENEFITS
We record the service cost component of net periodic benefit cost within Operating income on our condensed consolidated statements of income. For the three months ended June 30, 2018 and 2017, these amounts were $2.6 million and $2.3 million, respectively. For the six months ended June 30, 2018 and 2017, these amounts were $5.1 million and $4.6 million, respectively. All other components of net periodic benefit cost are included in Other – net within the condensed consolidated statements of income. For the three months ended June 30, 2018 and 2017, these amounts were $(8.8) million and $(6.9) million respectively. For the six months ended June 30, 2018 and 2017, these amounts were $(17.7) million and $(13.9) million, respectively. Components of net periodic benefit cost included in net income are as follows:
 
 
Pension Benefits
 
Other Benefits
 
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
 
(In thousands)
Service cost
 
$
2,405

 
$
2,145

 
$
4,818

 
$
4,296

 
$
162

 
$
153

 
$
327

 
$
307

Interest cost
 
12,307

 
13,495

 
24,650

 
27,008

 
351

 
538

 
900

 
1,078

Expected return on plan assets
 
(21,553
)
 
(20,803
)
 
(43,178
)
 
(41,640
)
 
(399
)
 
(596
)
 
(1,033
)
 
(1,191
)
Amortization of prior service cost (credit)
 
550

 
525

 
1,100

 
1,050

 
(62
)
 
(78
)
 
(107
)
 
(157
)
Net periodic benefit (income) cost
 
$
(6,291
)
 
$
(4,638
)
 
$
(12,610
)
 
$
(9,286
)
 
$
52

 
$
17

 
$
87

 
$
37


In July 2018, we completed the purchase of a group annuity contract to transfer certain domestic pension benefit obligations of approximately $240 million to an insurance company for approximately 1,300 retirees. This transaction will result in the recognition of pension settlement-related charges and net actuarial gains and losses related to an interim remeasurement of our domestic pension benefit obligation (Mark to Market Adjustment) during the quarter ending September 30, 2018.