Note 4 - Employee Benefit Plans

9 Months Ended

Sep. 30, 2022

Disclosure Text Block [Abstract]

Retirement Benefits [Text Block]

Note 4. Employee Benefit Plans

We sponsor three defined benefit pension plans covering substantially all U.S. employees. Net periodic pension cost for the plans consisted of the following for the three and nine months ended September 30, 2022 and 2021 (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Service cost	$	1,566		$	1,455		$	4,697		$	4,365
Interest cost		1,369			1,248			4,107			3,744
Expected return on plan assets		(3,363	)		(2,313	)		(10,089	)		(6,939	)
Amortization of prior service cost		128			99			384			297
Amortization of net loss		512			1,125			1,537			3,375
Net periodic pension cost	$	212		$	1,614		$	636		$	4,842

For the three- and nine-month periods ended September 30, 2022 and 2021, the service cost component of net periodic pension cost is included in the same line items of our condensed consolidated financial statements as other employee compensation costs. The net benefit related to all other components of net periodic pension cost of $1.4 million and $4.1 million, respectively, for the three- and nine-month periods ended September 30, 2022, and net expense of $0.2 million and $0.5 million for the three- and nine-month periods ended September 30, 2021, respectively, is included in other (expense) income on our condensed consolidated statements of operations and comprehensive income (loss).

In May 2022 and October 2022, we contributed $5.6 million and $4.2 million, respectively, in shares of our common stock to two of our defined benefit plans. In January 2021 and September 2021, we contributed $16.8 million and $5.4 million, respectively, in shares of our common stock to three of our defined benefit plans. We do not expect to be required to make additional contributions to our defined benefit pension plans in 2022, but may elect to do so.