PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS

3 Months Ended

Mar. 31, 2023

Retirement Benefits [Abstract]

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS

Components of net periodic cost (benefit) included in net (loss) income are as follows:

	Pension Benefits				Other Benefits
	Three Months Ended March 31,				Three Months Ended March 31,
(in thousands)	2023		2022		2023		2022
Interest cost	$	11,489	$	6,664	$	92	$	49
Expected return on plan assets	(11,697)		(14,366)		—		—
Amortization of prior service cost	52		28		173		173
Benefit plans, net (1)	(156)		(7,674)		265		222
Service cost included in COS (2)	144		201		4		5
Net periodic benefit cost (benefit)	$	(12)	$	(7,473)	$	269	$	227

(1)    Benefit plans, net, which is presented separately in the Company's Condensed Consolidated Statements of Operations, is not allocated to the segments.

(2)    Service cost related to a small group of active participants is presented within Cost of operations in the Company's Condensed Consolidated Statements of Operations and is recorded at the B&W Thermal segment level.

There were no mark-to-market ("MTM") adjustments for the Company's pension and other postretirement benefit plans during the three months ended March 31, 2023 and 2022.

The Company made contributions to its pension and other postretirement benefit plans totaling $0.3 million during the three months ended March 31, 2023 as compared to $0.4 million during the three months ended March 31, 2022.