XML 31 R20.htm IDEA: XBRL DOCUMENT v3.4.0.3
Pension Plans and Other Postretirement Benefits
 3 Months Ended
Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]  
Pension Plans and Other Postretirement Benefits
Pension Plans and Other Postretirement Benefits:
The components of pension and postretirement benefits cost (credit) for the three-month periods ended March 31, 2016 and 2015 are as follows (in thousands):
 
Three Months Ended 
 March 31,
 
2016
 
2015
Pension Benefits Cost (Credit):
 
 
 
Service cost
$
1,540

 
$
1,979

Interest cost
10,601

 
9,564

Expected return on assets
(11,309
)
 
(11,082
)
Actuarial gain
(50
)
 
—

Amortization of prior service benefit
28

 
30

Total net pension benefits cost
$
810

 
$
491

Postretirement Benefits Cost (Credit):
 
 
 
Service cost
$
29

 
$
66

Interest cost
621

 
668

Expected return on assets
(47
)
 
(65
)
Amortization of prior service benefit
(24
)
 
(24
)
Settlements/curtailments(a)
—

 
(2,594
)
Total net postretirement benefits cost (credit)
$
579

 
$
(1,949
)
Total net pension and postretirement benefits cost (credit)
$
1,389

 
$
(1,458
)
(a)
We assumed responsibility for one domestic OPEB plan in connection with the acquisition of Rockwood which covered a small number of active employees and retirees. This plan was terminated in the first quarter of 2015 and provisions were made for the affected employees and retirees to receive benefits under an existing plan. A gain of $2.6 million was recognized in the first quarter of 2015 related to the termination of this plan.
During the three-month periods ended March 31, 2016 and 2015, we made contributions of $3.4 million and $4.5 million, respectively, to our qualified and nonqualified pension plans.
We paid $0.8 million and $1.5 million in premiums to the U.S. postretirement benefit plan during the three-month periods ended March 31, 2016 and 2015, respectively.
Multiemployer Plan
Our contributions to the Pensionskasse Dynamit Nobel Versicherungsverein auf Gegenseitigkeit, Troisdorf (“DN Pensionskasse”) multiemployer plan were €0.4 million and €0.3 million (approximately $0.5 million and $0.4 million) during the three months ended March 31, 2016 and 2015, respectively.