COMPONENTS OF PENSION PLAN NET PERIODIC BENEFIT COSTS

3 Months Ended

Mar. 31, 2024

COMPONENTS OF PENSION PLAN NET PERIODIC BENEFIT COSTS

COMPONENTS OF PENSION PLAN NET PERIODIC BENEFIT COSTS

17.COMPONENTS OF PENSION PLAN NET PERIODIC BENEFIT COSTS

Eligible employees at certain of our mining operations participate in a defined benefit plan (the "Pension Plan") that we sponsor.  The Pension Plan is currently closed to new applicants and participants in the Pension Plan are no longer receiving benefit accruals for service.  The benefit formula for the Pension Plan is a fixed dollar unit based on years of service.  Components of the net periodic benefit credit for each of the periods presented are as follows:

	Three Months Ended
	March 31,
	2024		2023
	(in thousands)
Interest cost	$	1,259	$	1,295
Expected return on plan assets		(1,765)		(1,598)
Amortization of prior service cost		47		47
Amortization of net loss		37		173
Net periodic benefit credit (1)	$	(422)	$	(83)

(1) Net periodic benefit credit for the Pension Plan is included in the Other expense line item within our condensed consolidated statements of income.

We do not expect to make material contributions to the Pension Plan during 2024.