Pension Plans and Other Postretirement Benefits

6 Months Ended

Jun. 30, 2021

Retirement Benefits [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 and six-month periods ended June 30, 2021 and 2020 were as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Pension Benefits Cost (Credit):
Service cost	$	1,172	$	1,207	$	2,351	$	2,421
Interest cost	5,120		6,666		10,239		13,353
Expected return on assets	(10,901)		(10,028)		(21,794)		(20,091)
Amortization of prior service benefit	29		69		58		18
Total net pension benefits credit	$	(4,580)	$	(2,086)	$	(9,146)	$	(4,299)
Postretirement Benefits Cost:
Service cost	$	31	$	26	$	62	$	52
Interest cost	310		467		619		935
Total net postretirement benefits cost	$	341	$	493	$	681	$	987
Total net pension and postretirement benefits credit	$	(4,239)	$	(1,593)	$	(8,465)	$	(3,312)

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

During the three-month and six-month periods ended June 30, 2021, we made contributions of $4.2 million and $18.9 million, respectively, to our qualified and nonqualified pension plans. During the three-month and six-month periods ended

June 30, 2020, we made contributions of $2.1 million and $5.2 million, respectively, to our qualified and nonqualified pension plans.

We paid $0.8 million and $1.4 million, respectively, in premiums to the U.S. postretirement benefit plan during the three-month and six-month periods ended June 30, 2021, respectively. During the three-month and six-month periods ended June 30, 2020, we paid $0.8 million and $1.5 million, respectively, in premiums to the U.S. postretirement benefit plan.