Pension And Other Postretirement Benefit Plans

6 Months Ended

Sep. 30, 2019

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 September 30,						Three Months Ended September 30,
(in thousands of dollars)	2019			2018			2019			2018
Service cost	$	1,477		$	1,452		$	53		$	58
Interest cost	2,710			2,485			331			330
Expected return on plan assets	(4,190		)	(3,694		)	(29		)	(25		)
Net amortization and deferral	698			902			(153		)	(194		)
Net periodic benefit cost	$	695		$	1,145		$	202		$	169

	Pension Benefits						Other Postretirement Benefits
	Six Months Ended September 30,						Six Months Ended September 30,
(in thousands of dollars)	2019			2018			2019			2018
Service cost	$	3,066		$	2,907		$	106		$	117
Interest cost	5,447			4,966			664			670
Expected return on plan assets	(8,406		)	(7,388		)	(56		)	(50		)
Net amortization and deferral	1,396			1,804			(305		)	(388		)
Net periodic benefit cost	$	1,503		$	2,289		$	409		$	349

During the six months ended September 30, 2019, the Company made contributions of approximately $4.7 million to its pension plans. Additional contributions of $1.3 million are expected during the remaining six months of fiscal year 2020.