Net Periodic Benefit Cost-Defined Benefit Plans

9 Months Ended

Sep. 30, 2020

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

Net Periodic Benefit Cost-Defined Benefit Plans

Net Periodic Benefit Cost-Defined Benefit Plans

For a detailed disclosure on the Company’s pension and employee benefits plans, please refer to Note 13 of the Company’s Consolidated Financial Statements included in the Annual Report on Form 10-K for the year ended December 31, 2019.

The following sets forth the components of the net periodic benefit/cost of the domestic non-contributory defined benefit plan for the three and nine months ended September 30, 2020 and 2019, respectively:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In Thousands)	2020		2019		2020		2019
Interest cost	$	161	$	191	$	481	$	573
Expected return on plan assets	(330)		(248)		(956)		(746)
Amortization of net loss	52		46		144		140
Net periodic benefit	$	(117)	$	(11)	$	(331)	$	(33)

Employer Contributions

The Company previously disclosed in its consolidated financial statements, included in the Annual Report on Form 10-K for the year ended December 31, 2019, that it expected to contribute a minimum of $500,000 to its defined benefit plan in 2020.  As of September 30, 2020, there were contributions of $1,250,000 made to the plan with additional contributions of at least $250,000 anticipated during the remainder of 2020.