Defined Benefit Plans

3 Months Ended

Mar. 31, 2022

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Defined Benefit Plans

Defined Benefit Plans

Net periodic pension benefit costs for the Company's defined benefit pension plans cover certain foreign employees, union hourly employees and salaried employees. The components of net periodic pension cost are as follows (dollars in thousands):

	Pension Plans
	Three months ended March 31,
	2022		2021
Service costs	$	200	$	330
Interest costs	230		200
Expected return on plan assets	(410)		(390)
Settlement/curtailment loss	150		—
Amortization of net loss	140		230
Net periodic benefit cost	$	310	$	370

The service cost component of net periodic benefit cost is recorded in cost of goods sold and selling, general and administrative expenses, while non-service cost components are recorded in other income (expense), net in the accompanying consolidated statement of income.

During the three months ended March 31, 2022, the Company recorded a non-cash curtailment expense of approximately $0.2 million, as it transitioned certain active employees previously participating in a defined benefit plan in the United Kingdom to a defined contribution plan, thereby eliminating future service cost accruals for all employees under this defined benefit plan.

The Company contributed approximately $0.3 million to its defined benefit pension plans during the three months ended March 31, 2022. The Company expects to contribute approximately $1.7 million to its defined benefit pension plans for the full year 2022.