Pension Plans

The following table summarizes the components of net periodic pension cost charged to operations for the three and nine months ended September 30, 2016 and 2015 (in thousands):



	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2016			2015			2016			2015
Components of net periodic pension cost:
Interest cost	$	2,258		$	3,472		$	6,774		$	10,416
Expected return on plan assets (1)	(1,897		)	(2,690		)	(5,694		)	(8,071		)
Actuarial losses	560			1,911			1,677			5,730
Net periodic pension cost	$	921		$	2,693		$	2,757		$	8,075

(1) In connection with a lump sum buyout completed in the fourth quarter of 2015, pension assets decreased by approximately $110.7 million.

$18.9 million of employer contributions were paid during the nine months ended September 30, 2016. $0.2 million of additional employer contributions are expected to be paid in 2016.

Other

We have defined contribution pension plans covering certain employees. Contributions and costs are a percent of each covered employee’s salary. Amounts charged to expense related to such plans were not significant for the 2016 and 2015 periods.