Pension and Other Postretirement Benefits

3 Months Ended

Mar. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits

6. Pension and Other Postretirement Benefits

Contributions were as follows:

	Three Months Ended March 31,
	2016		2015
Foreign defined benefit pension plans	$	430	$	427
Other postretirement benefits (e.g. net payments)	$	241	$	164
U.K. defined contribution pension plan	$	62	$	96
U.S. defined contribution plan	$	503	$	0

In 2015, the U.S. Defined Benefit Plan was amended to freeze benefit accruals and participation in the plan for non-union hourly and salaried participants and, effective January 1, 2016, for employees of the Union Electric Steel Carnegie Steelworkers Location. Benefits under the plan were replaced with employer contributions equaling a 3% base contribution and a matching contribution of up to 4% to the defined contribution plan. The plan changes resulted in a curtailment loss of $1,217 for the three months ended March 31, 2015. Additionally, as part of the Åkers acquisition, the Corporation assumed the obligations for two U.S. defined benefit pension plans, two foreign retirement benefit plans and two other postretirement benefit plans. None of the acquired benefit plans were fully funded as of the acquisition date.

Net periodic pension and other postretirement costs include the following components:

	Three Months Ended March 31,
U.S. Defined Benefit Pension Plans	2016			2015
Service cost	$	346		$	1,130
Interest cost		2,258			2,070
Expected return on plan assets		(3,011	)		(2,741	)
Amortization of prior service cost		105			138
Amortization of actuarial loss		1,128			1,463
Curtailment charge		0			1,217
Net benefit costs	$	826		$	3,277
	Three Months Ended March 31,
Foreign Defined Benefit Pension Plans	2016			2015
Service cost	$	31		$	0
Interest cost		568			597
Expected return on plan assets		(647	)		(668	)
Amortization of actuarial loss		176			210
Net benefit costs	$	128		$	139
	Three Months Ended March 31,
Other Postretirement Benefit Plans	2016			2015
Service cost	$	158		$	75
Interest cost		200			112
Amortization of prior service cost		(258	)		(168	)
Amortization of actuarial loss		37			58
Net benefit costs	$	137		$	77