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RETIREMENT AND POSTRETIREMENT BENEFIT PLANS
 3 Months Ended
Mar. 31, 2020
Retirement Benefits [Abstract]  
RETIREMENT AND POSTRETIREMENT BENEFIT PLANS RETIREMENT AND POSTRETIREMENT BENEFIT PLANS
The components of total pension cost were as follows:
 
Three Months Ended March 31,
 
2020
 
2019
 
U.S. pension plans
 
Non-U.S. pension plans
 
U.S. pension plans
 
Non-U.S. pension plans
Service cost
$
39

 
$
756

 
$
35

 
$
728

Interest cost
4,050

 
696

 
4,653

 
936

Expected return on plan assets
(5,711
)
 
(1,007
)
 
(6,245
)
 
(1,124
)
Amortization of prior service cost
—

 
15

 
—

 
16

Amortization of net loss
203

 
555

 
413

 
585

Defined benefit plans
(1,419
)
 
1,015

 
(1,144
)
 
1,141

Multi-employer plans
—

 
269

 
—

 
247

Defined contribution plans
5,626

 
702

 
5,908

 
499

Total pension cost
$
4,207

 
$
1,986

 
$
4,764

 
$
1,887


The defined benefit plan components of Total pension cost, other than service cost, are included in Other income (expense) in the Company's Consolidated Statements of Income.
In March 2020, the Company approved an amendment to terminate the Lincoln Electric Company Retirement Annuity Program plan effective as of December 31, 2020. The Company provided notice to participants of the intent to terminate the plan and applied for a determination letter. Pension obligations will be distributed through a combination of lump sum payments to eligible plan participants and through the purchase of a group annuity contract. Upon settlement of the pension obligations, the Company will reclassify unrecognized actuarial gains or losses, currently recorded in AOCI, to the Company's Consolidated Statements of Income as settlement gains or charges in the second half of 2021. The Company anticipates the termination process will take approximately two years to complete.