Retirement Plans

6 Months Ended

Jun. 30, 2023

Retirement Plans [Abstract]

Retirement Plans

8. 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 June 30,						Six Months Ended June 30,
(In thousands)	2023			2022			2023			2022
Service cost	$	371		$	407		$	739		$	815
Interest cost		413			240			822			484
Expected return on plan assets		(245	)		(199	)		(484	)		(404	)
Recognized actuarial (gain) loss		(138	)		12			(277	)		24
Total defined benefit expense	$	401		$	460		$	800		$	919

The Company’s non-service cost portion of defined benefit expense is recorded in Interest Expense on the Company’s Consolidated Statements of Earnings. The Company’s service cost portion of defined benefit expense is recorded in Selling and Administrative Expenses on the Company’s Consolidated Statements of Earnings.