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Defined Benefit Plans | 3 Months Ended
--- | ---
Mar. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] |
Defined Benefit Plans | Defined Benefit Plans Net periodic pension benefit costs for the Company's defined benefit pension plans cover certain foreign employees, union hourly employees and salaried employees. The components of net periodic pension cost are as follows (dollars in thousands):
|  | Pension Plans
|  | Three months ended March 31, |  |
|  | 2022 |  | 2021 |  |  |  |
Service costs |  | $ | 200 |  |  | $ | 330 |  |  |  |  |
Interest costs |  | 230 |  |  | 200 |  |  |  |  |
Expected return on plan assets |  | (410) |  |  | (390) |  |  |  |  |
Settlement/curtailment loss |  | 150 |  |  | — |  |  |  |  |
Amortization of net loss |  | 140 |  |  | 230 |  |  |  |  |
Net periodic benefit cost |  | $ | 310 |  |  | $ | 370 |  |  |  |  |
The service cost component of net periodic benefit cost is recorded in cost of goods sold and selling, general and administrative expenses, while non-service cost components are recorded in other income (expense), net in the accompanying consolidated statement of income. During the three months ended March 31, 2022, the Company recorded a non-cash curtailment expense of approximately $0.2 million, as it transitioned certain active employees previously participating in a defined benefit plan in the United Kingdom to a defined contribution plan, thereby eliminating future service cost accruals for all employees under this defined benefit plan. The Company contributed approximately $0.3 million to its defined benefit pension plans during the three months ended March 31, 2022. The Company expects to contribute approximately $1.7 million to its defined benefit pension plans for the full year 2022.

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