XML 33 R20.htm IDEA: XBRL DOCUMENT v3.10.0.1
Pension And Other Retirement Plans
6 Months Ended
Jun. 30, 2018
Retirement Benefits [Abstract]  
Pension and Other Retirement Plans
NOTE 10: PENSION AND OTHER RETIREMENT PLANS
The components of net periodic benefit credit for Company-sponsored pension plans for the three and six months ended June 30, 2018 and June 30, 2017 were as follows (in thousands):
 
Pension Benefits
 
Three Months Ended
 
Six Months Ended
 
June 30, 2018
 
June 30, 2017
 
June 30, 2018
 
June 30, 2017
Service cost
$
174

 
$
198

 
$
467

 
$
384

Interest cost
17,829

 
19,528

 
35,569

 
39,097

Expected return on plans’ assets
(24,823
)
 
(25,236
)
 
(49,641
)
 
(50,563
)
Recognized actuarial loss
8

 

 
8

 

Amortization of prior service costs
35

 
35

 
70

 
58

Net periodic benefit credit
$
(6,777
)
 
$
(5,475
)
 
$
(13,527
)
 
$
(11,024
)

Net periodic benefit cost related to other post retirement benefit plans was not material for all periods presented. The service cost component of pension net periodic benefit credit is included in SG&A in the Company’s unaudited Condensed Consolidated Statements of Operations. All other components of net periodic benefit credit are included in Pension and other postretirement periodic benefit credit, net in the Company’s unaudited Condensed Consolidated Statements of Operations.
For 2018, the Company expects to contribute $36 million to its qualified pension plans and $1 million to its other postretirement plans. In the six months ended June 30, 2018, the Company contributed $24.5 million to its qualified pension plans. On July 12, 2018, the Company contributed $5.5 million to its qualified pension plans. The Company expects to contribute an additional $6 million in 2018. In the three and six months ended June 30, 2017, the Company’s contributions were not material.