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Retirement Benefits
 9 Months Ended
Sep. 30, 2020
Retirement Benefits [Abstract]  
Retirement Benefits Retirement Benefits
The Company sponsors several qualified and nonqualified defined benefit and defined contribution pension plans and other postretirement plans for its employees. The following tables provide the components of net periodic benefit cost for its major defined benefit plans and its other postretirement plans.
 Pension Benefits
 Three Months Ended September 30,
 20202019
 U.S.Non-U.S.U.S.Non-U.S.
Service cost$34 $539 $484 $462 
Interest cost312 263 764 355 
Expected return on plan assets(927)(291)(801)(258)
Settlement loss recognized326 — 486 — 
Net amortization643 427 487 276 
Net periodic (benefit) cost$388 $938 $1,420 $835 
 Pension Benefits
 Nine Months Ended September 30,
 20202019
 U.S.Non-U.S.U.S.Non-U.S.
Service cost$103 $1,620 $901 $1,386 
Interest cost963 789 2,292 1,081 
Expected return on plan assets(2,804)(873)(2,403)(784)
Settlement loss recognized702 — 486 — 
Net amortization and settlement effect852 1,279 1,460 840 
Net periodic (benefit) cost$(184)$2,815 $2,736 $2,523 
 Other Postretirement Benefits
 Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
Service cost$154 $141 $463 $421 
Interest cost156 212 469 636 
Net amortization(135)(159)(407)(476)
Net periodic (benefit) cost$175 $194 $525 $581 

The Company expects to contribute approximately $3.0 million to its defined benefit plans and $1.1 million to its other postretirement benefit plans in 2020. During the first nine months of 2020, the Company contributed a total of $3.0 million to fund these plans.

Effective September 30, 2019, the IDEX Corporation Retirement Plan (“Plan”), a U.S. defined benefit plan, was amended to freeze the accrual of retirement benefits for all participants. This action impacted fewer than 60 participants, as the Plan had been closed to new entrants as of December 31, 2004 and frozen as of December 31, 2005 for all but certain older, longer service participants. Subsequent to the freeze, termination of the Plan was approved in November 2019. Participants were notified in February 2020 and the Plan was terminated in May 2020. As a result of the termination, the settlement threshold was reached in early 2020 and the Company recorded a charge of $0.7 million to Other (income) expense - net in the Condensed Consolidated Statements of Operations for the nine months ended September 30, 2020. The settlement threshold was also reached in 2019, resulting in the Company recording a charge of $0.5 million in Other (income) expense - net in the Condensed Consolidated Statements of Operations for the nine months ended September 30, 2019. The settlement also
triggered the remeasurement of net periodic benefit cost resulting in a reduction of $1.0 million to Other (income) expense - net in the Condensed Consolidated Statements of Operations for the nine months ended September 30, 2020 as a result of significant decreases in discount rates and strong asset performance in 2020. As of September 30, 2020, the Plan’s funded status is 110%, with assets valued at $93.4 million and liabilities of $84.8 million.