Quarterly report pursuant to Section 13 or 15(d)

Employee Retirement Plans

v3.10.0.1
Employee Retirement Plans
6 Months Ended
Jun. 30, 2018
Employee Retirement Plans  
Employee Retirement Plans

11.                 Employee Retirement Plans

 

The components of net periodic pension cost consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

June 30,

 

June 30,

 

June 30,

 

June 30,

 

 

2018

 

2017

 

2018

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

Component of net periodic pension cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

102

 

$

89

 

$

204

 

$

178

Interest cost

 

 

389

 

 

403

 

 

778

 

 

806

Expected return on plan assets

 

 

(475)

 

 

(448)

 

 

(950)

 

 

(896)

Amortization of net loss

 

 

176

 

 

181

 

 

352

 

 

362

Net periodic pension cost

 

$

192

 

$

225

 

$

384

 

$

450

 

The Company estimates its total required minimum contributions to its pension plans in 2018 will be $72.  Through June 30, 2018, the Company has made $31 of cash contributions to the pension plans versus $655 through the same period in 2017.

 

Components of net periodic other postretirement benefit cost consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

June 30,

 

June 30,

 

June 30,

 

June 30,

 

 

2018

 

2017

 

2018

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

Component of periodic other postretirement benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

47

 

$

51

 

$

94

 

$

102

Interest cost

 

 

58

 

 

70

 

 

116

 

 

140

Amortization of net gain

 

 

(52)

 

 

(27)

 

 

(104)

 

 

(54)

Net periodic other postretirement benefit  cost

 

$

53

 

$

94

 

$

106

 

$

188

 

 

Service cost is included in Income from operations on the Condensed Consolidated Statement of Operations and Comprehensive Income. The other components of net periodic pension and postretirement benefit cost are included in Other expense on the Condensed Consolidated Statement of Operations and Comprehensive Income.