EMPLOYEE BENEFIT PLANS

9 Months Ended

Sep. 30, 2018

Defined Benefit Plan [Abstract]

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

The components of net periodic benefit cost related to the Company’s defined benefit plans consisted of the following:

	Three Months Ended   September 30,						Nine Months Ended   September 30,
Pension Benefits	2018			2017			2018			2017
Components of net periodic benefit cost:
Service cost	$	11,836		$	10,142		$	35,508		$	30,429
Interest cost	1,448			1,084			4,344			3,252
Expected return on plan assets	(2,135		)	(1,441		)	(6,405		)	(4,325		)
Amortization of prior service cost	22			13			65			39
Amortization of actuarial loss	71			113			214			339
Net periodic benefit cost	$	11,242		$	9,911		$	33,726		$	29,734

	Three Months Ended   September 30,				Nine Months Ended   September 30,
Post-Retirement Medical Plan	2018		2017		2018		2017
Components of net periodic benefit cost:
Service cost	$	287	$	316	$	861	$	948
Interest cost	155		172		465		516
Amortization of prior service cost	161		162		484		484
Net periodic benefit cost	$	603	$	650	$	1,810	$	1,948

The Company adopted ASU 2017-07 as described in “Note 1 - Description of the Business and Basis of Presentation” effective January 1, 2018. The new guidance requires the bifurcation of net periodic benefit cost. The service cost component is presented within Income from operations, while the other components are reported separately outside of operations. This guidance was applied retrospectively in the Condensed Consolidated Statements of Operations. For the three and nine months ended September 30, 2018, the Company recorded income of $278 and $833, respectively, related to the non-service components of net periodic benefit cost in Other income (expense). For the three and nine months ended September 30, 2017, the Company recorded expense of $103 and $305, respectively, related to the non-service components of net periodic benefit cost in Other income (expense).