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Net Periodic Benefit Cost
 3 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]  
Compensation and Employee Benefit Plans
10.    Net Periodic Benefit Cost

The following table sets forth the components of net periodic pension cost for the Company’s defined benefit pension plans (in thousands):
 Three Months EndedNine Months Ended
 December 31, 2020December 31, 2019December 31, 2020December 31, 2019
Service costs$294 $269 $847 $784 
Interest cost2,792 3,701 8,823 11,077 
Expected return on plan assets(3,045)(3,971)(9,752)(11,917)
Net amortization779 573 2,511 1,714 
Settlement(113)— 18,933 — 
Net periodic pension (benefit) cost$707 $572 $21,362 $1,658 

During the nine months ended December 31, 2020, the Company settled the liabilities for one of its U.S. pension plans through a combination of (i) lump sum payments to eligible participants who elected to receive them and (ii) the purchase of annuity contracts for participants who did not elect lump sums. The lump sum payments were paid during the three months ending June 30, 2020 and resulted in a settlement charge of $2,722,000 which was recorded in Other (income) expense, net on the Condensed Consolidated Statements of Operations. During the quarter ended September 30, 2020, the Company purchased annuity contracts to settle the remaining liabilities of the terminated plan. The total settlement charge was $18,933,000 which was recorded in Other (income) expense, net on the Condensed Consolidated Statements of Operations during the nine months ending December 31, 2020. The settlement gain of $113,000 during the three months ended December 31, 2020 is the result of a true up of estimates initially recorded. The remaining surplus of the terminated plan of $3,902,000 will be used, as prescribed in the applicable regulations, to fund obligations associated with the Company's U.S. defined contribution plans.
The Company currently plans to contribute approximately $5,330,000 to its pension plans in fiscal 2021.
 
The following table sets forth the components of net periodic postretirement benefit cost for the Company’s defined benefit postretirement plans (in thousands):
 Three Months EndedNine Months Ended
 December 31, 2020December 31, 2019December 31, 2020December 31, 2019
Interest cost$7 $14 $35 $53 
Amortization of plan net losses(94)(74)(198)(154)
Net periodic postretirement (benefit) cost$(87)$(60)$(163)$(101)

For additional information on the Company’s defined benefit pension and postretirement benefit plans, refer to the consolidated financial statements included in the 2020 10-K.