Pension Plans and Other Postretirement Benefits

6 Months Ended

Jun. 30, 2019

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 and six-month periods ended June 30, 2019 and 2018 were as follows (in thousands):



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Pension Benefits Cost (Credit):
Service cost	$	1,123		$	1,259		$	2,253		$	2,527
Interest cost	8,220			8,016			16,540			16,043
Expected return on assets	(9,445		)	(10,760		)	(18,897		)	(21,524		)
Amortization of prior service benefit	6			24			12			46
Total net pension benefits credit	$	(96	)	$	(1,461	)	$	(92	)	$	(2,908	)
Postretirement Benefits Cost (Credit):
Service cost	$	25		$	30		$	49		$	59
Interest cost	549			542			1,098			1,084
Expected return on assets	—			(2		)	—			(4		)
Amortization of prior service benefit	—			(12		)	—			(24		)
Total net postretirement benefits cost	$	574		$	558		$	1,147		$	1,115
Total net pension and postretirement benefits cost (credit)	$	478		$	(903	)	$	1,055		$	(1,793	)

All components of net benefit cost (credit), other than service cost, are included in Other (expenses) income, net on the consolidated statements of income.

During the three-month and six-month periods ended June 30, 2019, we made contributions of $3.8 million and $6.5 million, respectively, to our qualified and nonqualified pension plans. During the three-month and six-month periods ended June 30, 2018, we made contributions of $2.8 million and $5.9 million, respectively, to our qualified and nonqualified pension plans.

We paid $0.4 million and $1.3 million in premiums to the U.S. postretirement benefit plan during the three-month and six-month periods ended June 30, 2019, respectively. During the three-month and six-month periods ended June 30, 2018, we paid $0.7 million and $1.2 million, respectively, in premiums to the U.S. postretirement benefit plan.