Pension Plans and Other Postretirement Benefits

3 Months Ended

Mar. 31, 2023

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 periods ended March 31, 2023 and 2022 were as follows (in thousands):

	Three Months Ended March 31,
	2023		2022
Pension Benefits Cost (Credit):
Service cost	$	1,321	$	985
Interest cost	8,542		5,605
Expected return on assets	(8,409)		(11,212)
Amortization of prior service benefit	20		24
Total net pension benefits cost (credit)	$	1,474	$	(4,598)
Postretirement Benefits Cost:
Service cost	$	12	$	21
Interest cost	468		327
Total net postretirement benefits cost	$	480	$	348
Total net pension and postretirement benefits cost (credit)	$	1,954	$	(4,250)

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 periods ended March 31, 2023 and 2022, the Company made contributions of $2.7 million and $3.2 million, respectively, to its qualified and nonqualified pension plans.

The Company paid $0.2 million and $0.6 million in premiums to the U.S. postretirement benefit plan during the three-month periods ended March 31, 2023 and 2022, respectively.