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Pension and Other Postretirement Benefits | 9 Months Ended
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Sep. 30, 2021
Retirement Benefits [Abstract] |
Pension and Other Postretirement Benefits | Pension and Other Postretirement Benefits Components of net periodic benefit cost (income) were as follows:
|  | Pension Benefits |  | Postretirement Benefits
|  | Three months ended September 30,
(in thousands) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Components of net periodic benefit cost (income) |  |  |  |  |  |  |  |
Service cost |  | $ | 2,039 |  |  | $ | 2,402 |  |  | $ | 168 |  |  | $ | 150 |
Interest cost |  | 2,016 |  |  | 2,194 |  |  | 75 |  |  | 108 |
Expected return on plan assets |  | (2,463) |  |  | (2,577) |  |  | — |  |  | — |
Settlement expense |  | 531 |  |  | 1,241 |  |  | — |  |  | — |
Amortization of net loss (gain) |  | 845 |  |  | 1,356 |  |  | (80) |  |  | (241) |
Amortization of prior service cost (credit) |  | 69 |  |  | 70 |  |  | (35) |  |  | (35) |
Net periodic benefit cost (income) |  | $ | 3,037 |  |  | $ | 4,686 |  |  | $ | 128 |  |  | $ | (18) |
Components of net periodic benefit cost (income) were as follows:
|  | Pension Benefits |  | Postretirement Benefits
|  | Nine months ended September 30,
(in thousands) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Components of net periodic benefit cost (income) |  |  |  |  |  |  |  |
Service cost |  | $ | 6,166 |  |  | $ | 7,180 |  |  | $ | 503 |  |  | $ | 450 |
Interest cost |  | 6,161 |  |  | 7,244 |  |  | 226 |  |  | 324 |
Expected return on plan assets |  | (7,409) |  |  | (8,382) |  |  | — |  |  | — |
Settlement expense |  | 2,068 |  |  | 5,091 |  |  | — |  |  | — |
Amortization of net loss (gain) |  | 2,961 |  |  | 3,663 |  |  | (240) |  |  | (725) |
Amortization of prior service cost (credit) |  | 210 |  |  | 209 |  |  | (103) |  |  | (103) |
Net periodic benefit cost (income) |  | $ | 10,157 |  |  | $ | 15,005 |  |  | $ | 386 |  |  | $ | (54) |
The non-service cost components of net periodic benefit cost (income) are included in other expense, net in the unaudited condensed consolidated statements of operations. In the third quarter of 2021, the Company executed a buy-in policy contract with an insurance company which fully insures the benefits of one of its defined benefit pension plans outside the United States. The initial value of the insurance asset was equal to the premium paid to secure the policy (i.e., the fair value of the plan assets plus additional funding to execute the buy-in contract). As a result, the Company does not anticipate any further material contributions to the plan.

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