Note 4 - Employee Benefit Plans

6 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Retirement Benefits [Text Block]

Note 4.   Employee Benefit Plans

We sponsor 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 six months ended June 30, 2021 and 2020 (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
Service cost	$	1,455		$	1,334		$	2,910		$	2,668
Interest cost		1,248			1,404			2,496			2,808
Expected return on plan assets		(2,313	)		(1,872	)		(4,626	)		(3,744	)
Amortization of prior service cost		99			29			198			58
Amortization of net loss		1,125			1,163			2,250			2,326
Net periodic pension cost	$	1,614		$	2,058		$	3,228		$	4,116

For the three- and six-month periods ended June 30, 2021 and 2020, 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 expense related to all other components of net periodic pension cost of $0.2 million and $0.3 million, respectively, for the three- and six-month periods ended June 30, 2021, and $0.7 million and $1.4 million for the three- and six-month periods ended June 30, 2020, respectively, is included in other (expense) income on our condensed consolidated statements of operations and comprehensive income (loss).

In January 2021, we contributed $16.8 million in shares of our common stock to our supplemental executive retirement plan, and expect to contribute approximately $0.8 million in cash during 2021. We do not expect to be required to contribute to our defined benefit pension plans in 2021, but may do so.