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Pension and Other Postretirement Benefits
9 Months Ended
Mar. 31, 2019
Retirement Benefits [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFITS
We sponsor several defined benefit pension plans. Additionally, we provide varying levels of postretirement health care and life insurance benefits to certain U.S. participants.
The table below summarizes the components of net periodic pension income:
 
Three Months Ended March 31,
 
Nine Months Ended March 31,
(in thousands)
2019
 
2018
 
2019
 
2018
Service cost
$
406

 
$
414

 
$
1,224

 
$
1,224

Interest cost
7,979

 
7,716

 
23,939

 
23,051

Expected return on plan assets
(13,456
)
 
(14,188
)
 
(40,352
)
 
(42,410
)
Amortization of transition obligation
23

 
24

 
68

 
70

Amortization of prior service (credit) cost
(5
)
 
(42
)
 
(15
)
 
90

Recognition of actuarial losses
1,682

 
1,746

 
5,056

 
5,174

Net periodic pension income
$
(3,371
)
 
$
(4,330
)
 
$
(10,080
)
 
$
(12,801
)

The table below summarizes the components of net periodic other postretirement benefit cost:
 
Three Months Ended March 31,
 
Nine Months Ended March 31,
(in thousands)
2019
 
2018
 
2019
 
2018
Interest cost
$
153

 
$
157

 
$
460

 
$
471

Amortization of prior service credit
(22
)
 
(6
)
 
(68
)
 
(16
)
Recognition of actuarial loss
62

 
70

 
186

 
210

Net periodic other postretirement benefit cost
$
193

 
$
221

 
$
578

 
$
665


In accordance with ASU 2017-07, as described in Note 2, the service cost of $0.4 million and $1.2 million for the three and nine months ended March 31, 2019 and 2018 was reported as a component of cost of goods sold and operating expense. The other components of net periodic pension income and net periodic other postretirement benefit cost totaling a net benefit of $3.6 million and $10.7 million for the three and nine months ended March 31, 2019, respectively, were presented as a component of other income, net. For the three and nine months ended March 31, 2018, we reclassified a net benefit of $3.0 million and $9.1 million, respectively, from cost of goods sold to other income, net and a net benefit of $1.5 million and $4.2 million, respectively, from operating expense to other income, net.