Pension And Other Postretirement Benefit Plans

3 Months Ended

Jun. 30, 2020

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits Disclosure

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

The Company sponsors several defined benefit pension plans covering U.S. salaried employees and certain foreign and other employee groups. These plans provide retirement benefits based primarily on employee compensation and years of service. The Company also sponsors defined benefit plans that provide postretirement health and life insurance benefits for eligible U.S. employees attaining specific age and service levels, although postretirement life insurance is no longer provided for active employees.

The components of the Company’s net periodic benefit cost were as follows:

	Pension Benefits						Other Postretirement Benefits
	Three Months Ended June 30,						Three Months Ended June 30,
(in thousands of dollars)	2020			2019			2020			2019
Service cost	$	1,541		$	1,589		$	48		$	53
Interest cost	2,454			2,737			287			333
Expected return on plan assets	(3,677		)	(4,216		)	(24		)	(27		)
Net amortization and deferral	1,121			698			(143		)	(152		)
Net periodic benefit cost	$	1,439		$	808		$	168		$	207

During the three months ended June 30, 2020, the Company made contributions of approximately $0.4 million to its pension plans. Additional contributions of $6.5 million are expected during the remaining nine months of fiscal year 2021.