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Pension Plans and Other Postretirement Benefits | 3 Months Ended
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Mar. 31, 2023
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, 2023 and 2022 were as follows (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2023 |  | 2022
Pension Benefits Cost (Credit): |  |  |  |  |  |  |
Service cost |  |  |  |  | $ | 1,321 |  |  | $ | 985 |
Interest cost |  |  |  |  | 8,542 |  |  | 5,605 |
Expected return on assets |  |  |  |  | (8,409) |  |  | (11,212) |
Amortization of prior service benefit |  |  |  |  | 20 |  |  | 24 |
Total net pension benefits cost (credit) |  |  |  |  | $ | 1,474 |  |  | $ | (4,598) |
Postretirement Benefits Cost: |  |  |  |  |  |  |
Service cost |  |  |  |  | $ | 12 |  |  | $ | 21 |
Interest cost |  |  |  |  | 468 |  |  | 327 |
Total net postretirement benefits cost |  |  |  |  | $ | 480 |  |  | $ | 348 |
Total net pension and postretirement benefits cost (credit) |  |  |  |  | $ | 1,954 |  |  | $ | (4,250) |
All components of net benefit cost (credit), other than service cost, are included in Other income, net on the consolidated statements of income. During the three-month periods ended March 31, 2023 and 2022, the Company made contributions of $2.7 million and $3.2 million, respectively, to its qualified and nonqualified pension plans. The Company paid $0.2 million and $0.6 million in premiums to the U.S. postretirement benefit plan during the three-month periods ended March 31, 2023 and 2022, respectively.

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