Post-retirement Plan

3 Months Ended

Mar. 31, 2020

Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]

PCLI has union and non-union pension plans which are closed to new entrants. In addition, Sonneborn employees in the Netherlands have a defined benefit pension plan which was frozen and all plan participants became inactive in 2016. Our net periodic pension expense consisted of the following components:



	Three Months Ended March 31,
	2020			2019
	(In thousands)
Service cost - benefit earned during the period	$	1,117		$	1,027
Interest cost on projected benefit obligations	437			598
Expected return on plan assets	(1,021		)	(811		)
Net periodic pension expense	$	533		$	814

The expected long-term annual rates of return on plan assets are 5.75% and 1.50% for the PCLI and Sonneborn plans, respectively. These rates were used in measuring 2020 net periodic benefit costs.

We have post-retirement healthcare and other benefits that are available to certain of our employees who satisfy certain age and service requirements. The net periodic benefit credit of our post-retirement healthcare and other benefits plans consisted of the following components



	Three Months Ended March 31,
	2020			2019
	(In thousands)
Service cost – benefit earned during the period	$	451		$	367
Interest cost on projected benefit obligations	237			258
Amortization of prior service credit	(870		)	(870		)
Amortization of (gain) loss	13			(20		)
Net periodic post-retirement credit	$	(169	)	$	(265	)

The components, other than service cost, of our net periodic pension expense and net periodic post-retirement credit are recorded in Other, net in our consolidated statements of income.