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Pensions and Other Postretirement Benefit Plans (Tables) | 6 Months Ended
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Jun. 30, 2018
Retirement Benefits [Abstract] |
Schedule of Net Periodic Benefit Plan Cost | The composition of the net periodic benefit plan cost for the six months ended June 30, 2018 and 2017, was as follows:
| Pension plans | Other postretirement benefits
(in thousands) | 2018 | 2017 | 2018 | 2017
Components of net periodic benefit cost: |  |  |  |
Service cost | $1,391 | $1,307 | $116 | $122
Interest cost | 3,621 | 3,671 | 1,013 | 1,107
Expected return on assets | (4,470) | (4,003) |  | -
Curtailment gain | (518) | - | - | -
Amortization of prior service cost/(credit) | 17 | 18 | (2,244) | (2,244)
Amortization of net actuarial loss | 1,110 | 1,295 | 1,478 | 1,405
Net periodic benefit cost | $1,151 | $2,288 | $363 | $390
Schedule of Amounts Reclassified by Segment and Financial Statement | Effect by segment operating expenses:
(in thousands) | Increase/(decrease) in expense for the six months ended June 30, 2017
Machine Clothing | ($9)
Albany Engineered Composites | -
Corporate expenses | (1,240)
Total operating expenses | ($1,249)
Other expense, net | $1,249
Effect by Statement of Income line item:
(in thousands) | Increase/(decrease) in expense for the six months ended June 30, 2017
Cost of goods sold | ($247)
Selling, general and administrative expenses | (1,002)
Total operating expenses | ($1,249)
Other expense, net | $1,249

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- Definition Tabular disclosure for amounts reclassified by segment and financial statement line item. + References No definition available. + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
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