Pension and Postretirement Benefits

6 Months Ended

Jun. 30, 2018

Compensation And Retirement Disclosure [Abstract]

Pension and Postretirement Benefits

9. Pension and Postretirement Benefits

The estimated components of the recorded net periodic benefit cost (credit) for pension and postretirement benefits are as follows:

	Three-Months Ended June 30,
	Pension						Postretirement Benefits
	2018			2017			2018			2017
	(Dollars in Thousands)
Service cost	$	7,684		$	6,548		$	16		$	22
Interest cost		8,252			8,673			134			198
Expected return on assets		(12,403	)		(10,071	)		—			—
Amortization of:
Prior service cost (credit)		26			113			(426	)		(471	)
Actuarial loss (gain)		3,117			3,551			(48	)		(99	)
Net periodic benefit cost (credit)	$	6,676		$	8,814		$	(324	)	$	(350	)

	Six-Months Ended June 30,
	Pension						Postretirement Benefits
	2018			2017			2018			2017
	(Dollars in Thousands)
Service cost	$	15,832		$	13,402		$	38		$	40
Interest cost		16,613			18,030			259			365
Expected return on assets		(23,032	)		(20,613	)		—			—
Amortization of:
Prior service cost (credit)		52			155			(1,037	)		(871	)
Actuarial loss (gain)		6,413			7,087			(105	)		(182	)
Net periodic benefit cost (credit)	$	15,878		$	18,061		$	(845	)	$	(648	)

The service cost component of net periodic benefit cost (credit) is included in cost of revenues – products and services and selling, general and administrative expenses while all other components are included in other nonoperating income, net, in the consolidated statements of earnings and comprehensive earnings.

In July 2018, the Company made a $75,000,000 contribution to its qualified pension plan.  For the full year 2018, the Company currently estimates that it will contribute $162,400,000 to its pension plans, of which $150,000,000 will be to the qualified pension plan and $12,400,000 will be to make required payments under the unfunded pension plans.