Employee Benefit Plans

3 Months Ended

Mar. 31, 2020

Defined Benefit Plan [Abstract]

Employee Benefit Plans

15. Employee Benefit Plans

Retirement Plans

The Company sponsors qualified defined benefit pension plans covering certain employees of the Company and its subsidiaries, although the U.S. qualified and non-qualified defined benefit plans are closed to new entrants. The plans’ benefits are generally based on years of service and employee compensation. The Company also provides to certain management employees, through non-qualified plans, supplemental retirement benefits in excess of qualified plan limits imposed by federal tax law.

The tables below set forth the components of the Company’s net periodic (income) expense relating to retirement benefit plans. The service cost component is recognized within selling, general and administrative expenses and cost of goods and services, depending on the functional area of the underlying employees included in the plans, and the non-operating components of pension costs are included within other income, net in the Condensed Consolidated Statements of Earnings.

Qualified Defined Benefits

	Three Months Ended March 31,
	U.S. Plan				Non-U.S. Plans
	2020		2019		2020		2019
Service cost	$	1,706	$	1,754	$	1,293	$	1,545
Interest cost	4,068		4,756		825		1,241
Expected return on plan assets	(7,869)		(8,534)		(1,677)		(1,517)
Amortization:
Prior service cost (credit)	57		76		(119)		(58)
Recognized actuarial loss	1,884		—		742		816
Net periodic (income) expense	$	(154)	$	(1,948)	$	1,064	$	2,027

Non-Qualified Supplemental Benefits

	Three Months Ended March 31,
	2020		2019
Service cost	$	318	$	486
Interest cost	441		668
Amortization:
Prior service cost	424		703
Recognized actuarial gain	(464)		(570)
Net periodic expense	$	719	$	1,287

Post-Retirement Benefit Plans

The Company also maintains post-retirement benefit plans, although these plans are closed to new entrants. The supplemental and post-retirement benefit plans are supported by the general assets of the Company. The following table sets forth the components of the Company’s net periodic expense relating to its post-retirement benefit plans:

	Three Months Ended March 31,
	2020		2019
Service cost	$	5	$	5
Interest cost	60		78
Amortization:
Prior service cost	3		3
Recognized actuarial gain	(4)		(18)
Net periodic expense	$	64	$	68

The total amount amortized out of accumulated other comprehensive earnings into net periodic pension and post-retirement expense totaled $2,523 and $952 for the three months ended March 31, 2020 and 2019, respectively.

Defined Contribution Retirement Plans

The Company also offers defined contribution retirement plans which cover the majority of its U.S. employees, as well as employees in certain other countries. The Company’s expense relating to defined contribution plans were $14,048, and $12,906 for the three months ended March 31, 2020 and 2019, respectively.