Employee Benefit Plans

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
Service cost	$	1,504	$	2,532	$	4,501	$	7,734
Interest cost	26,141		18,804		78,394		56,520
Expected return on plan assets	(41,270)		(37,569)		(123,773)		(112,887)
Amortization of prior service cost	173		172		519		516
Amortization of actuarial loss	2,340		9,264		7,021		27,818
Net periodic benefit income	$	(11,112)	$	(6,797)	$	(33,338)	$	(20,299)

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.