Postretirement Plans

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Postretirement Plans

Postretirement Plans

The components of net periodic benefit (income)/cost were as follows:

	Nine months ended September 30		Three months ended September 30
Pension Plans	2022	2021	2022	2021
Service cost	$2	$2
Interest cost	1,561	1,493	$520	$498
Expected return on plan assets	(2,843)	(2,894)	(948)	(963)
Amortization of prior service credits	(61)	(60)	(20)	(20)
Recognized net actuarial loss	681	924	227	304
Settlement/curtailment (gain)/loss	(4)	156	(4)	152
Net periodic benefit income	($664)	($379)	($225)	($29)
Net periodic benefit cost included in (Loss)/earnings from operations	$2	$2
Net periodic benefit income included in Other income, net	(666)	(381)	($225)	($29)
Net periodic benefit income included in Loss before income taxes	($664)	($379)	($225)	($29)

	Nine months ended September 30		Three months ended September 30
Other Postretirement Plans	2022	2021	2022	2021
Service cost	$54	$66	$18	$22
Interest cost	73	68	24	23
Expected return on plan assets	(8)	(6)	(3)	(3)
Amortization of prior service credits	(26)	(26)	(9)	(9)
Recognized net actuarial gain	(83)	(52)	(27)	(17)
Net periodic benefit cost	$10	$50	$3	$16
Net periodic benefit cost included in (Loss)/earnings from operations	$59	$66	$20	$22
Net periodic benefit income included in Other income, net	(44)	(16)	(15)	(6)
Net periodic benefit cost included in Loss before income taxes	$15	$50	$5	$16

In the third quarter of 2021, we recorded a $151 settlement charge in Other income, net and remeasured assets and benefit obligations related to one of the Company’s pension plans. The remeasurement resulted in a net actuarial gain of $1,642, which is included in Other comprehensive income. The $1,642 reflects a gain of $923 primarily driven by an increase in the discount rate from approximately 2.6% at December 31, 2020 to approximately 2.8% as of the remeasurement date, as well as a gain of $719 primarily driven by asset returns in excess of expected returns.