Pensions and other postretirement benefit plans |
NOTE 8 — Pensions and other postretirement benefit plans
We, along with our subsidiaries, sponsor various defined benefit retirement plans, including plans established under collective bargaining agreements. Our retirement plans include the Gannett Retirement Plan (the "GR Plan"), the Newsquest and Romanes Pension Schemes in the U.K. (the "U.K. Pension Plans"), and other defined benefit and defined contribution plans. We also provide health care and life insurance benefits to certain retired employees who meet age and service requirements.
Retirement plan costs include the following components: | | | | | | | | | | | | | | | | | | | | | | | | | Pension Benefits | | Postretirement Benefits | | Three months ended June 30, | | Three months ended June 30, | In thousands | 2021 | | 2020 | | 2021 | | 2020 | Operating expenses: | | | | | | | | Service cost - benefits earned during the period | $ | 469 | | | $ | 704 | | | $ | 13 | | | $ | 19 | | Non-operating expenses: | | | | | | | | Interest cost on benefit obligation | 17,106 | | | 20,416 | | | 401 | | | 593 | | Expected return on plan assets | (41,408) | | | (38,551) | | | — | | | — | | | | | | | | | | Amortization of actuarial loss (gain) | 42 | | | (27) | | | (47) | | | 16 | | | | | | | | | | | | | | | | | | Total non-operating (benefit) expenses | $ | (24,260) | | | $ | (18,162) | | | $ | 354 | | | $ | 609 | | Total expense (benefit) for retirement plans | $ | (23,791) | | | $ | (17,458) | | | $ | 367 | | | $ | 628 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Pension Benefits | | Postretirement Benefits | | Six months ended June 30, | | Six months ended June 30, | In thousands | 2021 | | 2020 | | 2021 | | 2020 | Operating expenses: | | | | | | | | Service cost - benefits earned during the period | $ | 980 | | | $ | 1,385 | | | $ | 44 | | | $ | 52 | | Non-operating expenses (Other income): | | | | | | | | Interest cost on benefit obligation | 34,137 | | | 41,133 | | | 902 | | | 1,160 | | Expected return on plan assets | (82,838) | | | (78,367) | | | — | | | — | | | | | | | | | | Amortization of actuarial loss (gain) | 77 | | | (54) | | | (62) | | | 29 | | | | | | | | | | | | | | | | | | Total non-operating (benefit) expenses | $ | (48,624) | | | $ | (37,288) | | | $ | 840 | | | $ | 1,189 | | Total expense (benefit) for retirement plans | $ | (47,644) | | | $ | (35,903) | | | $ | 884 | | | $ | 1,241 | | During the six months ended June 30, 2021, we contributed $27.8 million and $3.5 million to our pension and other postretirement plans, respectively, including $11 million in minimum required contributions for the GR Plan attributable to the 2019 plan year, as required by the Employee Retirement Income Security Act of 1974 ("ERISA"), which were deferred until January 4, 2021. Additionally, in response to the COVID-19 pandemic, our GR Plan in the U.S. has deferred certain contractual contributions and negotiated a contribution payment plan of $5.0 million per quarter starting December 31, 2020 through the end of September 30, 2022.
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