Components of Net Periodic Cost (Benefit) |
The following table details the components of net periodic cost (benefit) of our pension plans and other postretirement employee benefits (OPEB):
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Three Months Ended September 30, |
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Pension |
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OPEB |
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(in thousands) |
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2022 |
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2021 |
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2022 |
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2021 |
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Service cost |
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$ |
1,652 |
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$ |
2,045 |
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$ |
79 |
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$ |
168 |
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Interest cost |
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2,611 |
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2,633 |
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228 |
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317 |
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Expected return on plan assets |
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(2,259 |
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(3,525 |
) |
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— |
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— |
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Amortization of prior service cost (credit) |
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19 |
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21 |
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155 |
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(298 |
) |
Amortization of actuarial loss (gain) |
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1,150 |
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3,578 |
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(96 |
) |
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545 |
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Total net periodic cost |
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$ |
3,173 |
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$ |
4,752 |
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$ |
366 |
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$ |
732 |
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Nine Months Ended September 30, |
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Pension |
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OPEB |
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(in thousands) |
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2022 |
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2021 |
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2022 |
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2021 |
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Service cost |
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$ |
5,153 |
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$ |
6,135 |
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$ |
237 |
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$ |
504 |
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Interest cost |
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8,034 |
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7,899 |
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686 |
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951 |
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Expected return on plan assets |
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(7,662 |
) |
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(10,575 |
) |
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— |
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— |
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Amortization of prior service cost (credit) |
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55 |
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63 |
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467 |
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(894 |
) |
Amortization of actuarial loss (gain) |
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4,252 |
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10,877 |
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(286 |
) |
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1,635 |
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Net periodic cost before pension settlement charge |
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9,832 |
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14,399 |
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1,104 |
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2,196 |
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Pension settlement charge |
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14,165 |
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— |
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— |
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— |
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Net periodic cost |
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$ |
23,997 |
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$ |
14,399 |
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$ |
1,104 |
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$ |
2,196 |
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