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Pension and Other Postretirement Benefits
 6 Months Ended
Jun. 30, 2017
Pension and Other Postretirement Benefits  
Pension and Other Postretirement Benefits

8. Pension and Other Postretirement Benefits

Components of net periodic benefit cost were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension Benefits

 

Postretirement Benefits

 

 

 

Three months ended June 30, 

 

(in thousands)

    

2017

    

2016

    

2017

    

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Components of net periodic benefit cost

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$
2,184

 

$
2,456

 

$
243

 

$
250

 

Interest cost

 

 
2,934

 

 
3,122

 

 
183

 

 
212

 

Expected return on plan assets

 

 
(2,934)

 

 
(3,067)

 

 

-

 

 

-

 

Settlement expense

 

 
185

 

 

-

 

 

-

 

 

-

 

Amortization of net (gain) loss

 

 
258

 

 
122

 

 
(135)

 

 
(174)

 

Amortization of prior service cost (credit)

 

 
43

 

 
43

 

 
(27)

 

 
(42)

 

Net periodic benefit cost

 

$
2,670

 

$
2,676

 

$
264

 

$
246

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension Benefits

 

Postretirement Benefits

 

 

 

Six months ended June 30, 

 

(in thousands)

    

2017

    

2016

    

2017

    

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Components of net periodic benefit cost

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$
4,521

 

$
4,909

 

$
478

 

$
500

 

Interest cost

 

 
5,952

 

 
6,293

 

 
357

 

 
423

 

Expected return on plan assets

 

 
(5,947)

 

 
(6,206)

 

 

-

 

 

-

 

Settlement expense

 

 
316

 

 

-

 

 

-

 

 

-

 

Amortization of net (gain) loss

 

 
297

 

 
247

 

 
(301)

 

 
(348)

 

Amortization of prior service cost (credit)

 

 
87

 

 
87

 

 
(68)

 

 
(84)

 

Net periodic benefit cost

 

$
5,226

 

$
5,330

 

$
466

 

$
491