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PENSION AND POSTRETIREMENT BENEFIT PLANS | 6 Months Ended
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Jun. 30, 2023
Retirement Benefits [Abstract] |
PENSION AND POSTRETIREMENT BENEFIT PLANS | PENSION AND POSTRETIREMENT BENEFIT PLANS The following tables present the components of net periodic benefit (credit) cost for the Dotdash Meredith pension and postretirement benefit plans:
| Three Months Ended June 30, 2023 |  | Six Months Ended June 30, 2023
| Pension |  | Postretirement |  | Pension |  | Postretirement
| Domestic |  | International |  | Domestic |  | Domestic |  | International |  | Domestic
| (In thousands)
Service cost | $ | 55 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 108 |  |  | $ | — |  |  | $ | 2 |
Interest cost | 826 |  |  | 4,921 |  |  | 58 |  |  | 1,697 |  |  | 9,698 |  |  | 116 |
Expected return on plan assets | (633) |  |  | (4,916) |  |  | — |  |  | (1,134) |  |  | (9,687) |  |  | — |
Actuarial gain recognition | (404) |  |  | — |  |  | — |  |  | (164) |  |  | — |  |  | — |
Net periodic benefit (credit) cost | $ | (156) |  |  | $ | 5 |  |  | $ | 59 |  |  | $ | 507 |  |  | $ | 11 |  |  | $ | 118 |
| Three Months Ended June 30, 2022 |  | Six Months Ended June 30, 2022
| Pension |  | Postretirement |  | Pension |  | Postretirement
| Domestic |  | International |  | Domestic |  | Domestic |  | International |  | Domestic
| (In thousands)
Service cost | $ | 907 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 1,889 |  |  | $ | — |  |  | $ | 3 |
Interest cost | 1,188 |  |  | 3,799 |  |  | 67 |  |  | 1,887 |  |  | 7,074 |  |  | 134 |
Expected return on plan assets | (598) |  |  | (3,792) |  |  | — |  |  | (2,176) |  |  | (8,416) |  |  | — |
Actuarial (gain) loss recognition | (2,399) |  |  | 43,564 |  |  | — |  |  | 10,133 |  |  | 68,552 |  |  | — |
Net periodic benefit (credit) cost | $ | (902) |  |  | $ | 43,571 |  |  | $ | 68 |  |  | $ | 11,733 |  |  | $ | 67,210 |  |  | $ | 137 |
Settlements during the three and six months ended June 30, 2023 triggered remeasurements of the pension plans in the U.S. The actuarial gain of $0.4 million for the three months ended June 30, 2023 primarily relates to investment performance and an increase in the discount rate. The actuarial gain of $0.2 million for the six months ended June 30, 2023 primarily relates to investment performance, partially offset by a loss due to an adjustment in plan demographics. Settlements during the three and six months ended June 30, 2022 triggered remeasurements of Meredith's funded pension plans in the United Kingdom ("U.K.") and U.S. The U.K. actuarial losses of $43.6 million and $68.6 million for the three and six months ended June 30, 2022, respectively, primarily relate to the decline in the fair value of the U.K. pension plan's assets exceeding the decline in the plan liabilities, in each case due to higher interest rates. The U.S. actuarial gain of $2.4 million for the three months ended June 30, 2022 primarily relates to the revaluation of an annuity contract, partially offset by a loss due to the decline in the fair value of the U.S. pension plan's assets exceeding the decline in the plan liabilities. The U.S. actuarial loss of $10.1 million for the six months ended June 30, 2022 primarily relates to the decline in the fair value of plan assets. The following table summarizes the weighted average expected return on plan assets used to determine the net periodic benefit costs at June 30, 2023, following the remeasurements, and December 31, 2022, respectively:
| June 30, 2023 |  | December 31, 2022
| Pension
| Domestic |  |  |  | Domestic |  |
Expected return on plan assets | 4.31 | % |  |  |  | 2.80 | % |  |
The components of net periodic benefit (credit) cost, other than the service cost component, are included in "Other income (expense), net" in the statement of operations.

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