Defined Benefit Plans

6 Months Ended

Jun. 30, 2015

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Defined Benefit Plans

Defined Benefit Plans

Net periodic pension and postretirement benefit costs for the Company's defined benefit pension plans and postretirement benefit plans cover certain foreign employees, union hourly employees and salaried employees. The components of net periodic pension and postretirement benefit costs for the three and six months ended June 30, 2015 and 2014 are as follows:

	Pension Plans												Other Postretirement Benefits
	Three months ended June 30,						Six months ended June 30,						Three months ended June 30,						Six months ended June 30,
	2015			2014			2015			2014			2015			2014			2015			2014
	(dollars in thousands)
Service costs	$	230		$	190		$	470		$	380		$	—		$	—		$	—		$	—
Interest costs	410			440			830			880			—			10			10			20
Expected return on plan assets	(490		)	(520		)	(1,010		)	(1,040		)	—			—			—			—
Amortization of prior service cost	10			10			10			10			—			—			—			—
Settlement/curtailment loss	2,750			—			2,750			—			—			—			—			—
Amortization of net (gain)/loss	360			280			740			560			(10		)	(30		)	(20		)	(50		)
Net periodic benefit cost	$	3,270		$	400		$	3,790		$	790		$	(10	)	$	(20	)	$	(10	)	$	(30	)

During the second quarter of 2015, the Company recognized a one-time settlement charge associated with annuitizing the defined benefit obligations for certain current and former Cequent employees. The settlement charge of approximately $2.8 million is included in the income (loss) from discontinued operations in the accompanying consolidated statement of income.

The Company contributed approximately $1.9 million and $2.6 million to its defined benefit pension plans during the three and six months ended June 30, 2015, respectively. The Company expects to contribute approximately $3.5 million to its defined benefit pension plans for the full year 2015.