EMPLOYEE BENEFIT PLANS

9 Months Ended

Sep. 30, 2020

Pension and Other Postretirement Benefits Disclosure [Text Block]

EMPLOYEE BENEFIT PLANS

The Company has three frozen defined benefit pension plans covering certain employees or former employees of three U.S. subsidiaries. The Company also has pension plans covering certain employees of several foreign subsidiaries. The Company also sponsors a number of defined contribution plans in the U.S. and at foreign subsidiaries. The Company contributed approximately $1.4 million to the pension plans during the nine months ended September 30, 2020, and expects to contribute approximately $0.7 million to the pension plans during the remainder of 2020.

The components of net periodic pension cost consisted of the following for the periods set forth below (amounts in thousands):


	Three months ended				Nine months ended
	September 30,				September 30,
	2020		2019		2020		2019
Service cost	$	200	$	228	$	728	$	658
Interest cost	857		1,075		2,595		3,304
Expected return on assets	(1,360)		(1,186)		(4,078)		(3,563)
Amortization of unrecognized prior service cost	—		56		—		169

Amortization of net unrecognized loss	696		766		2,088		2,296
Net periodic pension cost	$	393	$	939	$	1,333	$	2,864

Service cost is recorded as cost of sales in the Condensed Consolidated Statement of Operations while all other components are recorded in other income.