Note 3 - Periodic Pension Expense

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

NOTE

3

– Periodic Pension Expense:

The following table details the net periodic pension expense under the Company's plans for the periods presented:

(In thousands)
	Three Months						Six Months
	Ended June 30,						Ended June 30,
	2018			2017			2018			2017
Service cost - benefits earned during the period	$	27		$	16		$	54		$	32
Interest cost on projected benefit obligation		243			242			485			483
Expected return on plan assets		(430	)		(305	)		(859	)		(609	)
Recognized actuarial loss		283			270			566			547
Settlement loss		-			277			-			277
Net periodic pension cost	$	123		$	500		$	246		$	730

The service cost component is included in selling and administrative expenses and the other components are included in other periodic pension costs in our consolidated statements of comprehensive income.

Effective

June 30, 2013,

the Company

no

longer accrues additional benefits for future service or for future increases in compensation levels for the Company’s primary defined benefit pension plan.

Effective

December 31, 2014,

the Company

no

longer accrues additional benefits for future service for the Company’s hourly defined benefit plan.

There were

$0.1

million and

$1.5

million in contributions made to the Company’s defined benefit plans during the

three

-month period ended

June 30, 2018

and

2017,

respectively. There were

$0.1

million and

$1.5

million in contributions made to the Company’s defined benefit plans during the

six

-month period ended

June 30, 2018

and

2017,

respectively.