Employee benefit plans

6 Months Ended

Jun. 30, 2024

Employee benefit plans

Employee benefit plans

Note 10 – Employee benefit plans:

The components of net periodic defined benefit pension cost are presented in the table below.

	Three months ended				Six months ended
	June 30,				June 30,
	2023		2024		2023		2024
	(In thousands)
Interest cost	$	412	$	365	$	862	$	730
Expected return on plan assets		(352)		(335)		(766)		(670)
Recognized actuarial losses		358		333		716		666
Total	$	418	$	363	$	812	$	726

In the second quarter of 2023, we completed a termination and buy-out of our U.K. pension plan resulting in a $4.9 million settlement loss. We currently expect our 2024 contributions to our defined benefit pension plans to be approximately $1.0 million.