PENSIONS AND OTHER POST-RETIREMENT BENEFITS

3 Months Ended

Mar. 31, 2015

Compensation and Retirement Disclosure [Abstract]

PENSIONS AND OTHER POST-RETIREMENT BENEFITS

PENSIONS AND OTHER POST-RETIREMENT BENEFITS

The following tables summarize the costs of the Company’s employee pension and other post-retirement benefit plans for the periods indicated (in thousands):

	Pension Benefits						Other Benefits
	Three months ended						Three months ended
	March 31,			March 31,			March 31,			March 31,
	2015			2014			2015			2014
Service cost	$	1,887		$	1,734		$	4		$	6
Interest cost	3,114			3,335			80			91
Expected return on plan assets	(3,655		)	(3,936		)	—			—
Amortization of prior service cost	—			3			(72		)	(561		)
Recognized actuarial loss	2,166			502			92			154
Net periodic benefit cost	$	3,512		$	1,638		$	104		$	(310	)

For the three months ended March 31, 2015, $2.0 million of pension expense was incurred in cost of sales and $1.5 million was incurred in selling, general, and administrative expenses. For the three months ended March 31, 2014, $0.9 million of pension expense was incurred in cost of sales and $0.7 million was incurred in selling, general, and administrative expenses.