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PENSION AND EMPLOYEE BENEFIT PLANS
3 Months Ended
Jun. 30, 2016
Compensation And Retirement Disclosure [Abstract]  
PENSION AND EMPLOYEE BENEFIT PLANS

(I) PENSION AND EMPLOYEE BENEFIT PLANS

We sponsor several defined benefit and defined contribution pension plans which together cover substantially all our employees. Benefits paid under the defined benefit plans covering certain hourly employees are based on years of service and the employee’s qualifying compensation over the last few years of employment.

The following table shows the components of net periodic cost for our plans:

 

 

 

For the Three Months Ended
June 30,

 

 

 

2016

 

 

2015

 

 

 

 

(dollars in thousands)

 

Service Cost – Benefits Earned During the Period

 

$

222

 

 

$

231

 

Interest Cost of Benefit Obligations

 

 

399

 

 

 

381

 

Expected Return on Plan Assets

 

 

(416

)

 

 

(430

)

Recognized Net Actuarial Loss

 

 

425

 

 

 

433

 

Amortization of Prior-Service Cost

 

 

75

 

 

 

75

 

Net Periodic Pension Cost

 

$

705

 

 

$

690