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Employee Retirement Plans
 9 Months Ended
Sep. 30, 2018
Retirement Benefits [Abstract]  
Employee Retirement Plans
16. Employee Retirement Plans

The following table presents the components of Net periodic benefit cost for the periods presented (in thousands):
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2018
 
2017
 
2018
 
2017
Service cost - benefits earning during the period
 
$
—

 
$
—

 
$
—

 
$
—

Interest cost on projected benefit obligation
 
1,344

 
1,403

 
4,033

 
4,209

Expected return on assets
 
(1,901
)
 
(1,921
)
 
(5,702
)
 
(5,764
)
Actuarial gain
 
—

 
—

 
—

 
—

Foreign currency gain (loss)
 
(24
)
 
7

 
(72
)
 
22

Net periodic benefit cost (income)
 
$
(581
)
 
$
(511
)
 
$
(1,741
)
 
$
(1,533
)


For the nine months ended September 30, 2018, $2.6 million of contributions have been made to the Company's pension plans, comprising $1.5 million of fixed contributions and $1.1 million of profit-related contributions (based on 2015 profits). The Company anticipates contributing an additional $1.6 million during 2018, comprising $1.2 million of fixed contributions and $0.4 million of profit-related contributions (based on 2016 profits).

Under a revised deficit recovery plan agreed between GMSL and the trustees of GMSL's pension plan dated March 20, 2018, which was subsequently submitted to the UK government’s Pension Regulator, contributions of approximately $13.1 million deferred from 2016 and 2017 due in December 2017 have been further deferred. To support this deferral, the Company has provided secured assets in the form of the CWind Phantom crew transfer vessel and two trenchers. Consistent with earlier recovery plans, the revised deficit recovery plan comprises three elements: fixed contributions, variable contributions (profit-related element) and variable contributions (dividend-related element), though the amounts and some definitions have been modified. The fixed contributions, payable in installments, comprise approximately $2.7 million in 2018, approximately $6.8 million in 2019, approximately $7.1 million in 2020, approximately $7.2 million in 2021 and approximately $3.1 million in 2022. The variable contributions (profit-related element) are calculated as 10% of GMSL's audited operating profit and paid two years in arrears in December each year from 2018. The variable contributions (dividend-related) equate to 50% of any future dividend paid by GMSL.