Pension And Other Postretirement Benefit Plans

6 Months Ended

Sep. 30, 2014

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

The Company sponsors several defined benefit pension plans covering U.S. salaried employees and certain foreign and other employee groups. These plans provide retirement benefits based primarily on employee compensation and years of service. The Company also sponsors defined benefits plans that provide postretirement health and life insurance benefits for eligible U.S. employees attaining specific age and service levels.

The components of the Company’s net periodic benefit cost were as follows:

	Pension Benefits						Other Postretirement Benefits
	Three Months Ended September 30,						Three Months Ended September 30,
(in thousands of dollars)	2014			2013			2014			2013
Service cost	$	1,327		$	1,197		$	114		$	131
Interest cost	2,656			2,865			481			508
Expected return on plan assets	(3,535		)	(3,543		)	(26		)	(30		)
Curtailment gain	—			—			(1,503		)	—
Net amortization and deferral	780			2,447			(133		)	(17		)
Net periodic benefit cost	$	1,228		$	2,966		$	(1,067	)	$	592

	Pension Benefits						Other Postretirement Benefits
	Six Months Ended September 30,						Six Months Ended September 30,
(in thousands of dollars)	2014			2013			2014			2013
Service cost	$	2,661		$	2,392		$	228		$	269
Interest cost	5,325			5,722			965			1,040
Expected return on plan assets	(7,227		)	(7,085		)	(52		)	(60		)
Curtailment gain	—			—			(1,503		)	—
Net amortization and deferral	1,560			4,894			(266		)	(34		)
Net periodic benefit cost	$	2,319		$	5,923		$	(628	)	$	1,215

The curtailment gain reflected in the above table for the quarter and six months ended September 30, 2014 was attributable to the elimination of postretirement life insurance coverage for active U.S. employees. During the six months ended September 30, 2014, the Company made contributions of approximately $4.3 million to its pension plans. Additional contributions of approximately $3.4 million are expected during the remaining six months of fiscal year 2015, including $2.7 million to the Company's ERISA-regulated U.S. plan and $0.7 million to its non-ERISA regulated and other plans.