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Pension And Other Postretirement Benefit Plans
 9 Months Ended
Dec. 31, 2016
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 benefit 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 December 31,
 
Three Months Ended December 31,
(in thousands of dollars)
 
2016
 
2015
 
2016
 
2015
 
 
 
 
 
 
 
 
 
Service cost
 
$
1,343

  
$
1,469

 
$
73

  
$
106

Interest cost
 
2,453

  
2,345

 
378

  
387

Expected return on plan assets
 
(3,584
)
  
(3,574
)
 
(11
)
  
(15
)
Net amortization and deferral
 
843

  
1,201

 
(100
)
  
(44
)
Net periodic benefit cost
 
$
1,055

 
$
1,441

 
$
340

 
$
434

 
 
Pension Benefits
 
Other Postretirement Benefits
 
 
Nine Months Ended December 31,
 
Nine Months Ended December 31,
(in thousands of dollars)
 
2016
 
2015
 
2016
 
2015
 
 
 
 
 
 
 
 
 
Service cost
 
$
4,063

  
$
4,431

 
$
220

  
$
320

Interest cost
 
7,389

  
7,038

 
1,136

  
1,186

Expected return on plan assets
 
(10,762
)
  
(10,727
)
 
(33
)
  
(45
)
Net amortization and deferral
 
2,519

  
3,599

 
(300
)
  
(132
)
Net periodic benefit cost
 
$
3,209

 
$
4,341

 
$
1,023

 
$
1,329



The net periodic benefit cost for the Company's pension and other postretirement benefit plans has declined from the prior fiscal year, primarily reflecting actuarial gains from higher market discount rates applicable to the most recent actuarial measurement of benefit liabilities.

During the nine months ended December 31, 2016, the Company made contributions of approximately $10.4 million to its pension plans. Additional contributions of approximately $0.6 million are expected during the remaining three months of fiscal year 2017.