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Pension and Other Benefit Programs
 6 Months Ended
Jun. 30, 2019
Compensation And Retirement Disclosure [Abstract]  
Pensions and Other Benefit Programs

NOTE 16. PENSIONS AND OTHER BENEFIT PROGRAMS

Following are the components of net periodic benefit costs (credits):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

U.S. defined benefit plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension benefits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost of benefits earned during the period

 

$

1.2

 

 

$

1.5

 

 

$

2.4

 

 

$

2.9

 

Interest cost on projected benefit obligation

 

 

12.6

 

 

 

11.6

 

 

 

25.2

 

 

 

23.1

 

Expected return on plan assets

 

 

(20.0

)

 

 

(24.0

)

 

 

(40.1

)

 

 

(48.0

)

Amortization of net actuarial loss

 

 

4.8

 

 

 

5.0

 

 

 

9.6

 

 

 

10.0

 

Net periodic pension (credit)

 

$

(1.4

)

 

$

(5.9

)

 

$

(2.9

)

 

$

(12.0

)

Retiree health and life insurance benefits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost of benefits earned during the period

 

$

-

 

 

$

0.1

 

 

$

-

 

 

$

0.1

 

Interest cost on projected benefit obligation

 

 

0.6

 

 

 

0.7

 

 

 

1.2

 

 

 

1.3

 

Amortization of prior service credit

 

 

(0.1

)

 

 

-

 

 

 

(0.1

)

 

 

-

 

Amortization of net actuarial gain

 

 

(2.0

)

 

 

(1.4

)

 

 

(4.2

)

 

 

(2.8

)

Net periodic postretirement (credit)

 

$

(1.5

)

 

$

(0.6

)

 

$

(3.1

)

 

$

(1.4

)

 

We also have an unfunded defined benefit pension plan in Germany, which will not be acquired by Knauf in connection with the announced sale of our EMEA and Pacific Rim segments that is reported as a component of our Unallocated Corporate segment.  Net periodic pension cost for this plan was immaterial for the three and six months ended June 30, 2019 and 2018.