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EMPLOYER SPONSORED BENEFIT PLANS
 3 Months Ended
Mar. 31, 2021
Retirement Benefits [Abstract]  
EMPLOYER SPONSORED BENEFIT PLANS EMPLOYER SPONSORED BENEFIT PLANS
 
The Company maintains one domestic pension plan: the Retirement Income Plan for Employees of Interface Performance Materials, Inc. ("IPM Pension Plan"). During the three-month period ended March 31, 2020, the Company settled the pension obligation of the Interface Sealing Solutions, Inc. Pension Plan ("ISS Pension Plan") through lump sum distributions to
participants or by irrevocably transferring pension liabilities to an insurance company through the purchase of a group annuity contract. This purchase, funded with pension assets, resulted in a pre-tax settlement loss of $0.4 million in the three-month period ended March 31, 2020, related to the recognition of accumulated deferred actuarial losses. The settlement loss and expenses were included as non-operating expense on the Condensed Consolidated Statements of Operations.

The IPM Pension Plan covers a portion of Interface's union and non-union employees. The plan is closed to new employees and benefits are no longer accruing for the majority of participants. The Company expects to make contributions of approximately $0.7 million to the IPM Pension Plan during 2021. Contributions of $0.2 million were made during the three-month period ended March 31, 2021. Contributions of $0.4 million were made during the three-month period ended March 31, 2020, inclusive of contributions made to the ISS Pension Plan.

The following is a summary of the components of net periodic benefit cost for the domestic defined benefit pension plans for
the three-month periods ended March 31, 2021 and 2020:
For the Three Months Ended March 31,
In thousands20212020
Components of employer benefit cost  
Service cost$29 $40 
Interest cost304 430 
Expected return on assets(589)(533)
Amortization of actuarial loss 4 2 
Net periodic benefit cost (income)$(252)$(61)
Settlement loss— 385 
Total employer benefit plan cost$(252)$324 

The Company reports the service cost component of net periodic benefit cost in the same line item as other compensation costs in operating expenses and the non-service cost components of net periodic benefit cost in other income.