Benefit Plans

3 Months Ended

Mar. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Benefit Plans

Benefit Plans

The components of our consolidated net pension costs are set forth in the following table:

	For the Three Months Ended
	March 31,
	2014			2015
	(Dollars in thousands)
Service cost	$	473		$	827
Interest cost	2,169			1,526
Expected return on plan assets	(1,938		)	(1,354		)
Amortization of prior service cost	1			1
Net cost	$	705		$	1,000

The components of our consolidated net postretirement costs are set forth in the following table: 

	For the Three Months Ended
	March 31,
	2014			2015
	(Dollars in thousands)
Service cost	$	19		$	4
Interest cost	352			315
Amortization of prior service benefit	(47		)	(43		)
Net cost	$	324		$	276

On March 27, 2015, we settled $59.0 million of projected benefit obligations through the purchase of a group annuity contract. The purchase was fully funded with pension assets. The obligation associated with this transaction will require no additional cash contributions by the company. The results of this settlement were not material to our operations.