Pension Plans and Postretirement Benefits

6 Months Ended

Jun. 30, 2020

Retirement Benefits [Abstract]

Pension Plans and Postretirement Benefits

PENSION PLANS AND POSTRETIREMENT BENEFITS

We record the service cost component of net periodic benefit cost within Operating income on our condensed consolidated statements of income. For the three months ended June 30, 2020 and 2019, these amounts were $2.9 million and $2.6 million, respectively. For the six months ended June 30, 2020 and 2019, these amounts were $5.9 million and $5.2 million, respectively. All other components of net periodic benefit cost are included in Other – net within the condensed consolidated statements of income. For the three months ended June 30, 2020 and 2019, these amounts were $(9.5) million and $(5.3) million, respectively. For the six months ended June 30, 2020 and 2019, these amounts were $(19.0) million and $(10.5) million, respectively. Components of net periodic benefit cost included in net income were as follows:

	Pension Benefits								Other Benefits
	Three Months Ended June 30,				Six Months Ended June 30,				Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019		2020		2019		2020		2019
	(In thousands)
Service cost	$	2,779	$	2,469	$	5,598	$	4,925	$	161	$	144	$	327	$	289
Interest cost	9,221		11,563		18,523		23,155		404		585		814		1,170
Expected return on plan assets	(19,211)		(17,418)		(38,575)		(34,854)		(672)		(628)		(1,344)		(1,255)
Amortization of prior service cost (credit)	825		725		1,650		1,450		(49)		(77)		(97)		(155)
Net periodic benefit (income) cost	$	(6,386)	$	(2,661)	$	(12,804)	$	(5,324)	$	(156)	$	24	$	(300)	$	49