Retirement Plans

3 Months Ended

Mar. 31, 2018

Retirement Plans [Abstract]

Retirement Plans

6. Retirement Plans

The Company’s components of annual benefit cost for the defined benefit plans for the periods presented are as follows:

	Three Months Ended March 31,
(In thousands)	2018			2017
Service cost	$	368		$	461
Interest cost		289			355
Expected return on plan assets		(245	)		(255	)
Amortization of actuarial gain		(27	)		(21	)
Total defined benefit expense	$	385		$	540

As noted in Note 1, Accounting Policies, the Company adopted ASU No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, in the first quarter of 2018. As a result of the adoption of this ASU, the non-service cost portion of the Company’s annual benefit costs summarized above is recorded in Interest Expense in the Company’s Condensed Statement of Earnings. The service cost portion of the Company’s annual benefit costs is recorded in Selling and Administrative Expenses on the Company’s Condensed Statement of Earnings.