Pension And Other Postretirement Benefit Plans

3 Months Ended

Jun. 30, 2023

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 June 30,				Three Months Ended June 30,
(in thousands of dollars)	2023		2022		2023		2022
Service cost	$	1,282	$	1,545	$	25	$	32
Interest cost	2,901		2,335		264		241
Expected return on plan assets	(3,888)		(3,324)		(16)		(19)
Net amortization and deferral	203		1,001		(189)		(172)
Net periodic benefit cost	$	498	$	1,557	$	84	$	82

During the three months ended June 30, 2023, the Company made contributions of approximately $0.3 million to its pension plans. Additional contributions of $3.6 million are expected during the remaining nine months of fiscal year 2024.