Pension and Other Post-Retirement Benefits

3 Months Ended

Mar. 31, 2023

Retirement Benefits [Abstract]

Pension and Other Post-Retirement Benefits

The Company maintains several qualified and non-qualified pension plans and other post-retirement benefit plans. The following table presents the components of pension (income) expense for the Company's significant pension plans. The Company's other pension and post-retirement benefit plans are not significant individually or in the aggregate.

	Three Months Ended March 31,
	2023		2022
Interest cost	$	4,538	$	2,382
Expected return on plan assets	(4,467)		(6,336)
Amortization of actuarial loss	2,882		2,128
Total net pension expense (income)	$	2,953	$	(1,826)

Net pension expense (income) is included in Selling, general and administrative expenses in the consolidated statements of operations. During the three months ended March 31, 2023, the Company did not contribute to its pension plans. Required future pension contributions are estimated based upon assumptions such as discount rates on future obligations, assumed rates of return on plan assets and legislative changes. Actual future pension costs and required funding obligations will be affected by changes in the factors and assumptions described in the previous sentence, including the impact of declines in pension plan assets and interest rates, as well as other changes such as any plan termination or other acceleration events. The Company currently estimates it will contribute $5,814 to its pension plans during the remainder of 2023. On April 13, 2023, the Company contributed $2,000 to its pension plans.