Employee Benefit Plans

6 Months Ended

Jun. 30, 2023

Retirement Benefits [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Net periodic benefit income from our pension plans included the following components for our pension benefits:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023		2022
Service cost	$	1,503	$	2,586	$	2,997	$	5,202
Interest cost	26,136		18,849		52,253		37,716
Expected return on plan assets	(41,263)		(37,646)		(82,503)		(75,318)
Amortization of prior service cost	173		172		346		344
Amortization of actuarial loss	2,340		9,275		4,681		18,554
Net periodic benefit income	$	(11,111)	$	(6,764)	$	(22,226)	$	(13,502)

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.