PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Tables)

3 Months Ended

Mar. 31, 2020

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

Summary of the components of net periodic benefit cost


	Three Months Ended March 31
	Nonunion Defined				Supplemental				Postretirement
	Benefit Pension Plan				Benefit Plan				Health Benefit Plan
	2020⁽¹⁾		2019		2020		2019		2020⁽²⁾		2019
	(in thousands)
Service cost	$	—	$	—	$	—	$	—	$	47	$	80
Interest cost		—		318		3		10		144		303
Expected return on plan assets		—		(90)		—		—		—		—
Amortization of prior service credit		—		—		—		—		—		(9)
Pension settlement expense⁽³⁾		—		1,356		89		—		—		—
Amortization of net actuarial (gain) loss⁽⁴⁾		—		149		4		24		(149)		225
Net periodic benefit cost	$	—	$	1,733	$	96	$	34	$	42	$	599

(1)	Termination of the nonunion defined benefit pension plan was completed in 2019 and the plan was liquidated as of December 31, 2019.

(2)	Expense for the postretirement health benefit plan is lower for the three months ended March 31, 2020, compared to the same period of 2019, due to the impact of a lower cost prescription drug plan effective January 1, 2020.

(3)

For the three months ended March 31, 2020, pension settlement expense for the supplemental benefit plan of $0.1 million (pre-tax), or $0.1 million (after-tax), was due to a $0.7 million benefit related to an officer retirement. For the three months ended March 31, 2019, pension settlement expense for the nonunion defined benefit pension plan of $1.4 million (pre-tax), or $1.0 million (after-tax), was related to $14.9 million of lump-sum distributions from the plan.

(4)	The Company amortizes actuarial gains and losses over the average remaining active service period of the plan participants and does not use a corridor approach.