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Pension Plans and Other Postretirement Benefits | 3 Months Ended
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Mar. 31, 2018
Retirement Benefits [Abstract] |
Pension Plans and Other Postretirement Benefits | Pension Plans and Other Postretirement Benefits: The components of pension and postretirement benefits cost (credit) for the three-month periods ended March 31, 2018 and 2017 were as follows (in thousands):
| Three Months Ended March 31,
| 2018 |  | 2017
Pension Benefits Cost (Credit): |  |  |
Service cost | $ | 1,268 |  |  | $ | 1,003 |
Interest cost | 8,027 |  |  | 8,288 |
Expected return on assets | (10,764 | ) |  | (9,908 | )
Amortization of prior service benefit | 22 |  |  | 27 |
Total net pension benefits credit | $ | (1,447 | ) |  | $ | (590 | )
Postretirement Benefits Cost (Credit): |  |  |
Service cost | $ | 29 |  |  | $ | 31 |
Interest cost | 542 |  |  | 585 |
Expected return on assets | (2 | ) |  | (28 | )
Amortization of prior service benefit | (12 | ) |  | (24 | )
Total net postretirement benefits cost | $ | 557 |  |  | $ | 564 |
Total net pension and postretirement benefits credit | $ | (890 | ) |  | $ | (26 | )
As a result of the adoption of new accounting guidance effective January 1, 2018, on a retrospective basis, all components of net benefit cost (credit), other than service cost, are to be shown outside of operations on the consolidated statements of income. We recast these components of net benefit cost (credit), which resulted in a reduction of $0.2 million in Cost of goods sold and $0.9 million in Selling, general and administrative expenses, with an offsetting increase of $1.1 million in Other (expenses) income, net for the three months ended March 31, 2017. There was no impact to Net income attributable to Albemarle Corporation. During the three-month periods ended March 31, 2018 and 2017, we made contributions of $3.1 million and $2.4 million, respectively, to our qualified and nonqualified pension plans. We paid $0.5 million in premiums to the U.S. postretirement benefit plan during both the three-month periods ended March 31, 2018 and 2017.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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