Pension And Other Post-Retirement Benefits

3 Months Ended

Mar. 31, 2019

Retirement Benefits [Abstract]

Pension And Other Post-Retirement Benefits

The components of net periodic benefit cost for the pension and other postretirement benefit programs reflected in the consolidated statements of income are shown below:

	Pension Benefits						Other PostRetirement Benefits
	Three Months Ended March 31,						Three Months Ended March 31,
(In thousands)	2019			2018			2019			2018
Service cost	$	—		$	5		$	8		$	10
Interest cost	3,067			2,882			73			69
Expected return on plan assets	(3,404		)	(3,761		)	—			—
Amortization of prior service costs, (gains) losses and net transition asset	2,729			3,428			(58		)	(54		)
Net periodic benefit cost	$	2,392		$	2,554		$	23		$	25

Pension and other postretirement liabilities were $86.8 million and $88.8 million at March 31, 2019 and December 31, 2018, respectively ($0.6 million included in “Accrued expenses” at March 31, 2019 and December 31, 2018, with the remainder included in “Pension and other postretirement benefit obligations, net” in the consolidated balance sheets). The Company’s required contributions are expected to be $8.1 million in 2019. Contributions to the pension plan during the first three months of 2019 were $1.7 million. Tredegar funds its other postretirement benefits (life insurance and health benefits) on a claims-made basis; for 2019, the Company anticipates the amount will be consistent with amounts paid for the year ended December 31, 2018, or $0.3 million.