Employee Benefit Plans

3 Months Ended

Mar. 31, 2022

Retirement Benefits [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Net periodic benefit income from our pension plans included the following components for the three months ended March 31:

	Pension Benefits
(in thousands)	2022		2021
Service cost	$	2,616	$	3,041
Interest cost	18,867		17,906
Expected return on plan assets	(37,672)		(38,732)
Amortization of prior service cost	172		172
Amortization of actuarial loss	9,279		12,456
Net periodic benefit income	$	(6,738)	$	(5,157)

Service cost is recorded in selling, administrative and other expenses in the condensed consolidated statements of income while all other components are recorded within other non-operating expense (income). Pension benefits also include amounts related to supplemental retirement plans.