XML 25 R13.htm IDEA: XBRL DOCUMENT v3.7.0.1
Pension And Other Postretirement Benefit Plans
 3 Months Ended
Jun. 30, 2017
Defined Benefit Plan [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, although postretirement life insurance is no longer provided for active employees.

The components of the Company’s net periodic benefit cost were as follows:
 
 
Pension Benefits
 
Other Postretirement Benefits
 
 
Three Months Ended June 30,
 
Three Months Ended June 30,
(in thousands of dollars)
 
2017
 
2016
 
2017
 
2016
 
 
 
 
 
 
 
 
 
Service cost
 
$
1,311

  
$
1,361

 
$
64

  
$
73

Interest cost
 
2,434

  
2,469

 
383

  
375

Expected return on plan assets
 
(3,717
)
  
(3,589
)
 
(22
)
  
(11
)
Net amortization and deferral
 
815

  
838

 
(71
)
  
(100
)
Net periodic benefit cost
 
$
843

 
$
1,079

 
$
354

 
$
337

 
 
 
 
 
 
 
 
 


During the three months ended June 30, 2017, the Company made contributions of approximately $3.8 million to its pension plans. Additional contributions of approximately $4.0 million are expected during the remaining nine months of fiscal year 2018, including $3.0 million to the Company's ERISA-regulated U.S. plan and $1.0 million to its non-ERISA regulated and other plans.