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Pension and Postretirement Benefits
 9 Months Ended
Sep. 30, 2018
Compensation And Retirement Disclosure [Abstract]  
Pension and Postretirement Benefits

9.

Pension and Postretirement Benefits

The estimated components of the recorded net periodic benefit cost (credit) for pension and postretirement benefits are as follows:

 

 

Three-Months Ended September 30,

 

 

 

Pension

 

 

Postretirement Benefits

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

 

(Dollars in Thousands)

 

Service cost

 

$

7,911

 

 

$

7,457

 

 

$

19

 

 

$

20

 

Interest cost

 

 

8,307

 

 

 

9,729

 

 

 

130

 

 

 

182

 

Expected return on assets

 

 

(11,516

)

 

 

(10,691

)

 

 

—

 

 

 

—

 

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service cost (credit)

 

 

27

 

 

 

34

 

 

 

(519

)

 

 

(436

)

Actuarial loss (gain)

 

 

3,206

 

 

 

3,604

 

 

 

(53

)

 

 

(91

)

Settlement charge

 

 

2,692

 

 

 

—

 

 

 

—

 

 

 

—

 

Net periodic benefit cost (credit)

 

$

10,627

 

 

$

10,133

 

 

$

(423

)

 

$

(325

)

 

 

 

Nine-Months Ended September 30,

 

 

 

Pension

 

 

Postretirement Benefits

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

 

(Dollars in Thousands)

 

Service cost

 

$

23,732

 

 

$

20,060

 

 

$

58

 

 

$

60

 

Interest cost

 

 

24,921

 

 

 

27,074

 

 

 

389

 

 

 

547

 

Expected return on assets

 

 

(34,549

)

 

 

(29,818

)

 

 

—

 

 

 

—

 

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service cost (credit)

 

 

77

 

 

 

237

 

 

 

(1,556

)

 

 

(1,307

)

Actuarial loss (gain)

 

 

9,621

 

 

 

10,643

 

 

 

(158

)

 

 

(273

)

Settlement charge

 

 

2,692

 

 

 

—

 

 

 

—

 

 

 

—

 

Net periodic benefit cost (credit)

 

$

26,494

 

 

$

28,196

 

 

$

(1,267

)

 

$

(973

)

 

The service cost component of net periodic benefit cost (credit) is included in cost of revenues – products and services and selling, general and administrative expenses while all other components are included in other nonoperating income, net, in the consolidated statements of earnings and comprehensive earnings.

In the quarter ended September 30, 2018, the Company made $150,000,000 of discretionary contributions to its qualified pension plan.  No additional contributions to the qualified pension plan are expected to be made for the remainder of 2018. The Company currently estimates that it will contribute a total of $12,400,000 for the year ending December 31, 2018 to satisfy required payments under the unfunded nonqualified pension plans.