| Benefit Plans |
15. Benefit Plans:
The following information is provided for (1) the Company-sponsored defined benefit pension plans covering employees in the U.S. and certain employees at its foreign subsidiaries, (2) the Company-sponsored unfunded plans to provide certain health care benefits to retired employees in the U.S. and Canada, and (3) the Company’s defined benefit supplementary retirement plans which provide benefits for certain U.S. employees in excess of qualified plan limitations.
Components of net periodic expense (benefit) are as follows:
Defined Benefit Pension Plans
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U.S.
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Foreign |
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Three months ended
June 30, |
|
Three months ended
June 30, |
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2018 |
|
2017 |
|
2018 |
|
2017 |
Service cost |
|
$ |
223 |
|
|
$ |
304 |
|
|
$ |
845 |
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|
$ |
941 |
|
Interest cost |
|
2,369 |
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|
2,536 |
|
|
1,608 |
|
|
1,254 |
|
Expected return on plan assets |
|
(3,176 |
) |
|
(3,061 |
) |
|
(1,628 |
) |
|
(923 |
) |
Amortization of net loss |
|
— |
|
|
— |
|
|
12 |
|
|
— |
|
Curtailment gain recognized |
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(576 |
) |
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— |
|
|
— |
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|
— |
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Net periodic expense (benefit) |
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$ |
(1,160 |
) |
|
$ |
(221 |
) |
|
$ |
837 |
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|
$ |
1,272 |
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U.S. |
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Foreign |
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Six months ended
June 30, |
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Six months ended
June 30, |
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2018 |
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2017 |
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2018 |
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2017 |
Service cost |
|
$ |
533 |
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|
$ |
609 |
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|
$ |
1,732 |
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|
$ |
1,783 |
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Interest cost |
|
4,741 |
|
|
5,072 |
|
|
3,113 |
|
|
2,685 |
|
Expected return on plan assets |
|
(6,350 |
) |
|
(6,122 |
) |
|
(2,947 |
) |
|
(2,217 |
) |
Amortization of net less |
|
— |
|
|
— |
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|
25 |
|
|
— |
|
Curtailment gain recognized |
|
(576 |
) |
|
— |
|
|
— |
|
|
— |
|
Net periodic expense (benefit) |
|
$ |
(1,652 |
) |
|
$ |
(441 |
) |
|
$ |
1,923 |
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$ |
2,251 |
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Supplemental Retirement Plans
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Three months ended
June 30, |
|
Six months ended
June 30, |
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|
2018 |
|
2017 |
|
2018 |
|
2017 |
Interest cost |
|
$ |
110 |
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|
$ |
123 |
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|
$ |
220 |
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|
$ |
246 |
|
Net periodic expense |
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$ |
110 |
|
|
$ |
123 |
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|
$ |
220 |
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|
$ |
246 |
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Other Postretirement Benefit Plans
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Three months ended
June 30, |
|
Six months ended
June 30, |
|
|
2018 |
|
2017 |
|
2018 |
|
2017 |
Service cost |
|
$ |
3 |
|
|
$ |
5 |
|
|
$ |
9 |
|
|
$ |
10 |
|
Interest cost |
|
27 |
|
|
41 |
|
|
65 |
|
|
81 |
|
Amortization of prior service credit |
|
(20 |
) |
|
(20 |
) |
|
(39 |
) |
|
(39 |
) |
Amortization of net gain |
|
(11 |
) |
|
(19 |
) |
|
(22 |
) |
|
(38 |
) |
Net periodic expense (benefit) |
|
$ |
(1 |
) |
|
$ |
7 |
|
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$ |
13 |
|
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$ |
14 |
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