Pension And Other Postretirement Benefit Plans

9 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits Disclosure

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS The Company sponsors several defined benefit pension plans covering eligible 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 December 31,				Three Months Ended December 31,
(in thousands of dollars)	2022		2021		2022		2021
Service cost	$	1,549	$	1,678	$	33	$	43
Interest cost	2,341		2,212		236		265
Expected return on plan assets	(3,323)		(3,373)		(18)		(21)
Net amortization and deferral	1,001		976		(168)		(115)
Net periodic benefit cost	$	1,568	$	1,493	$	83	$	172

	Pension Benefits				Other Postretirement Benefits
	Nine Months Ended December 31,				Nine Months Ended December 31,
(in thousands of dollars)	2022		2021		2022		2021
Service cost	$	4,597	$	4,981	$	97	$	137
Interest cost	7,027		6,725		712		745
Expected return on plan assets	(9,971)		(10,145)		(56)		(65)
Net amortization and deferral	3,003		2,928		(507)		(346)
Net periodic benefit cost	$	4,656	$	4,489	$	246	$	471

During the nine months ended December 31, 2022, the Company made contributions of approximately $3.6 million to its pension plans. Additional contributions of $0.5 million are expected during the remaining three months of fiscal year 2023.