Pension Plans and Other Postretirement Benefits

6 Months Ended

Jun. 30, 2022

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, 2022 and 2021 were as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Pension Benefits Cost (Credit):
Service cost	$	970	$	1,172	$	1,955	$	2,351
Interest cost	5,568		5,120		11,173		10,239
Expected return on assets	(10,932)		(10,901)		(22,144)		(21,794)
Amortization of prior service benefit	23		29		47		58
Total net pension benefits credit	$	(4,371)	$	(4,580)	$	(8,969)	$	(9,146)
Postretirement Benefits Cost:
Service cost	$	22	$	31	$	43	$	62
Interest cost	326		310		653		619
Total net postretirement benefits cost	$	348	$	341	$	696	$	681
Total net pension and postretirement benefits credit	$	(4,023)	$	(4,239)	$	(8,273)	$	(8,465)

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

During the three-month and six-month periods ended June 30, 2022, the Company made contributions of $3.1 million and $6.4 million, respectively, to its qualified and nonqualified pension plans. During the three-month and six-month periods ended June 30, 2021, the Company made contributions of $4.2 million and $18.9 million, respectively, to its qualified and nonqualified pension plans.

The Company paid $0.7 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, 2022 and 2021, respectively. During the three-month and six-month periods ended June 30, 2021, the Company paid $0.8 million and $1.4 million, respectively, in premiums to the U.S. postretirement benefit