Net Periodic Benefit Cost

6 Months Ended

Jun. 30, 2023

Retirement Benefits [Abstract]

NET PERIODIC BENEFIT COST

NET PERIODIC PENSION COST

Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the three months ended June 30:

	U.S. Pension Benefits				Non-U.S. Pension Benefits				Other U.S. Post-retirement Benefits				Total
	2023		2022		2023		2022		2023		2022		2023		2022
Service cost, net	$	289	$	416	$	3,425	$	4,775	$	—	$	—	$	3,714	$	5,191
Interest cost on projected benefit obligations	1,256		674		4,916		1,492		8		3		6,180		2,169
Expected return on plan assets	(1,383)		(1,547)		(8,645)		(9,023)		—		—		(10,028)		(10,570)
Recognition of prior service cost	—		—		(1,060)		(1,045)		(19)		(19)		(1,079)		(1,064)
Recognition of actuarial losses/(gains)	548		585		2,561		4,709		(1)		(8)		3,108		5,286
Net periodic pension cost/(credit)	$	710	$	128	$	1,197	$	908	$	(12)	$	(24)	$	1,895	$	1,012

Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the six months ended June 30:

	U.S. Pension Benefits				Non-U.S. Pension Benefits				Other U.S. Post-retirement Benefits				Total
	2023		2022		2023		2022		2023		2022		2023		2022
Service cost, net	$	579	$	832	$	6,821	$	9,765	$	—	$	—	$	7,400	$	10,597
Interest cost on projected benefit obligations	2,511		1,348		9,792		3,051		15		6		12,318		4,405
Expected return on plan assets	(2,766)		(3,094)		(17,212)		(18,447)		—		—		(19,978)		(21,541)
Recognition of prior service cost	—		—		(2,110)		(2,141)		(38)		(37)		(2,148)		(2,178)
Recognition of actuarial losses/(gains)	1,096		1,169		5,098		9,639		(1)		(15)		6,193		10,793
Net periodic pension cost/(credit)	$	1,420	$	255	$	2,389	$	1,867	$	(24)	$	(46)	$	3,785	$	2,076

As previously disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, the Company expects to make employer contributions of approximately $27.5 million

to its non-U.S. pension plans during the year ended December 31, 2023. This estimate may change based upon several factors, including fluctuations in currency exchange rates, actual returns on plan assets and changes in legal requirements.