Employee Benefit Plans

3 Months Ended

Mar. 31, 2023

Retirement Benefits [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Net periodic benefit income from our pension plans included the following components for the three months ended March 31,:

	Pension Benefits
(in thousands)	2023		2022
Service cost	$	1,494	$	2,616
Interest cost	26,117		18,867
Expected return on plan assets	(41,240)		(37,672)
Amortization of prior service cost	173		172
Amortization of actuarial loss	2,341		9,279
Net periodic benefit income	$	(11,115)	$	(6,738)

Service cost is recorded in selling, administrative and other expenses in the Condensed Consolidated Statements of Income while all other components are recorded within other non-operating expense (income). Pension benefits also include amounts related to supplemental retirement plans.