Pensions and Other Post-retirement Benefits

3 Months Ended

Mar. 31, 2022

Retirement Benefits [Abstract]

Pensions and Other Post-retirement Benefits

Pensions and Other Post-retirement Benefits

Components of net periodic benefit cost consisted of the following:

	Pension Benefits				Other Benefits
(In thousands)	2022		2021		2022		2021
Three Months Ended March 31,
Service cost	$	3,099	$	3,242	$	82	$	99
Interest cost	3,613		2,817		148		116
Expected return on plan assets	(12,418)		(9,147)		—		—
Amortization of prior service cost (credit)	36		66		(84)		(90)
Recognized net actuarial losses	3,018		4,421		310		399
Settlements	—		(1,879)		—		—
Net periodic benefit cost (a)	$	(2,652)	$	(480)	$	456	$	524

(a) Components of net periodic benefit cost other than service cost are included in the line item Other income, net, and service costs are included in the line items Cost of products sold and Selling, general and administrative in the unaudited Condensed Consolidated Statements of Income.

We made contributions of $1.9 million to our pension plans during both the three months ended March 31, 2022 and 2021, respectively. We expect to make net contributions of $7.7 million to our pension plans in 2022, which are primarily associated with statutorily required plans in the International reporting segment.