Pension plans and other postretirement benefits

6 Months Ended

Jun. 30, 2019

Compensation And Retirement Disclosure [Abstract]

Pension plans and other postretirement benefits

7. Pension plans and other postretirement benefits

The Company provides defined benefit pension and other postretirement benefits (including health care and life insurance benefits) to qualified retired employees.  Net periodic defined benefit cost for defined benefit plans consisted of the following:

	Pension Benefits						Other Postretirement Benefits
	Three Months Ended June 30
	2019			2018			2019			2018
	(In thousands)
Service cost	$	4,559			5,069			229		243
Interest cost on projected benefit obligation		20,590			18,548			569			589
Expected return on plan assets		(30,470	)		(30,688	)		—			—
Amortization of prior service cost (credit)		154			153			(1,190	)		(1,189	)
Amortization of net actuarial loss (gain)		6,546			10,796			(323	)		(213	)
Net periodic cost (benefit)	$	1,379			3,878			(715	)		(570	)

	Pension Benefits						Other Postretirement Benefits
	Six Months Ended June 30
	2019			2018			2019			2018
	(In thousands)
Service cost	$	8,646			10,172			429			469
Interest cost on projected benefit obligation		40,790			37,353			1,172			1,146
Expected return on plan assets		(61,070	)		(61,563	)		—			—
Amortization of prior service cost (credit)		279			278			(2,365	)		(2,364	)
Amortization of net actuarial loss (gain)		10,996			21,896			(623	)		(413	)
Net periodic cost (benefit)	$	(359	)		8,136			(1,387	)		(1,162	)

Service cost is reflected in salaries and employee benefits expense in the consolidated statement of income. The other components of net periodic cost (benefit) are reflected in other costs of operations. Expenses incurred in connection with the Company's defined contribution pension and retirement savings plans totaled $19 million and $17 million for the three months ended June 30, 2019 and 2018, respectively, and $41 million and $38 million for the six months ended June 30, 2019 and 2018, respectively, and are included in salaries and employee benefits expense.