PENSION, HEALTH CARE AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS

6 Months Ended

Jun. 30, 2020

PENSION, HEALTH CARE AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS

The following table summarizes the components of the Company’s net periodic benefit cost for domestic defined benefit pension plans, foreign defined benefit pension plans and postretirement benefits other than pensions:


	Domestic Defined Benefit Pension Plans						Foreign Defined Benefit Pension Plans						Postretirement Benefits Other than Pensions
	2020		2019		2020		2019		2020		2019
Three Months Ended June 30:
Net periodic benefit cost:
Service cost	$	1.1	$	1.0	$	1.8	$	1.5	$	0.4	$	0.4
Interest cost	0.8		1.2		1.9		2.4		1.8		2.8
Expected return on assets	(1.6)		(1.4)		(2.6)		(2.5)
Recognition of:
Unrecognized prior service cost (credit)	0.4		0.4						(0.2)		(1.3)
Unrecognized actuarial loss					0.1		0.2		0.5		0.2
Net periodic benefit cost	$	0.7	$	1.2	$	1.2	$	1.6	$	2.5	$	2.1

Six Months Ended June 30:
Net periodic benefit cost:
Service cost	$	2.2	$	1.9	$	3.5	$	3.0	$	0.8	$	0.7
Interest cost	1.6		2.4		3.7		4.7		3.7		5.6
Expected return on assets	(3.1)		(2.7)		(5.2)		(4.9)
Recognition of:
Unrecognized prior service cost (credit)	0.7		0.7						(0.5)		(2.5)
Unrecognized actuarial loss					0.4		0.5		1.0		0.3
Ongoing pension cost	1.4		2.3		2.4		3.3		5.0		4.1
Settlement expense			32.4
Net periodic benefit cost	$	1.4	$	34.7	$	2.4	$	3.3	$	5.0	$	4.1

Service cost is recorded in Cost of goods sold and Selling, general and administrative expenses. All other components are recorded in Other expense - net.

During the first quarter of 2019, the Company purchased annuity contracts to settle the remaining liabilities of the domestic defined benefit pension plan that was terminated in 2018. The annuity contract purchase resulted in a settlement charge of $32.4 million in the first quarter of 2019.

For further details on the Company’s health care, pension and other benefits, see Note 8 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.