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Employee Benefit Plans
 9 Months Ended
Sep. 30, 2019
Retirement Benefits [Abstract]  
Employee Benefit Plans EMPLOYEE BENEFIT PLANS
The Newhall Land and Farming Company Retirement Plan (the “Retirement Plan”) is a defined benefit plan that is funded by the Company and qualified under the Employee Retirement Income Security Act. In 2004, the Retirement Plan was amended to cease future benefit accruals and the Retirement Plan was frozen. The Company’s funding policy is to contribute amounts sufficient to meet minimum requirements but not more than the maximum tax-deductible amount. The Company does not expect to have a minimum required contribution in 2019 and did not make any contributions during the nine months ended September 30, 2019.
The components of net periodic benefit for the three and nine months ended September 30, 2019 and 2018, are as follows (in thousands):
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2019
 
2018
 
2019
 
2018
Net periodic benefit:
 
 
 
 
 
 
 
Interest cost
$
207

 
$
186

 
$
623

 
$
561

Expected return on plan assets
(251
)
 
(263
)
 
(756
)
 
(843
)
Amortization of net actuarial loss
37

 
33

 
107

 
76

Net periodic benefit
$
(7
)
 
$
(44
)
 
$
(26
)
 
$
(206
)

Net periodic benefit does not include a service cost component as a result of the Retirement Plan being frozen. All other components of net periodic benefit are included in other income on the condensed consolidated statements of operations.