Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Changes in Benefit Obligations, Plan Assets and Funded Status with Amounts Recognized in Consolidated Balance Sheet

The change in benefit obligations, plan assets and funded status along with amounts recognized in the Consolidated Balance Sheets are as follows:


	December 31,
	2021		2020
Change in benefit obligation:
Benefit Obligation, beginning of year	$	52,510	$	42,291
Service Cost	6,020		5,493
Interest Cost	1,576		1,469

Actuarial Loss (Gain)	(3,051)		4,005
Benefits Paid	(1,121)		(748)

Benefit Obligation, end of year	55,934		52,510

Change in plan assets:
Fair Value of Plan Assets, beginning of year	32,043		24,051
Actual Return on Plan Assets	2,051		4,123
Employer Contributions	2,315		4,617
Benefits Paid	(1,121)		(748)

Fair Value of Plan assets, end of year	35,288		32,043
Funded Status at end of period	$	(20,646)	$	(20,467)
Amounts recognized in the Consolidated Balance Sheets:
Non-current assets	$	—	$	—
Current liabilities	—		—
Non-current Liabilities	(20,646)		(20,467)
Net Liability at end of year	$	(20,646)	$	(20,467)

Amounts recognized in accumulated other comprehensive loss:
Prior Service Cost	5,189		5,676
Net actuarial loss	418		3,689
Amounts recognized in accumulated other comprehensive loss:	$	5,607	$	9,365

Schedule of Expected Employer Contributions and Future Benefits Payments

The following employer contributions and benefit payments, which reflect expected future service, are expected to be paid as follows:


Employer Contributions
Expected 2022 Contributions by Employer	$	2,436
Future Expected Benefit Payments
2022	$	1,265
2023	1,450
2024	1,620
2025	1,796
2026	1,983
2027-2031	12,319

Schedule of Components of Net Periodic Costs

The components of net periodic pension costs for the Alkali benefit plan are as follows:


	December 31,
	2021		2020		2019
Service Cost	$	6,020	$	5,493	$	4,351
Interest Cost	1,576		1,469		1,340
Expected Return on Assets	(1,831)		(1,539)		(1,252)
Amortization of Prior Service Cost	487		487		406
Total Net Periodic Benefit Costs	$	6,252	$	5,910	$	4,845

Schedule of Weighted Average Assumptions Used To Determine Benefit Obligation

The Alkali Business pension plan is administered by a Board-appointed committee that has fiduciary responsibility for the plan's management. The committee is responsible for the oversight and management of the plan's investments. The committee maintains an investment policy that provides guidelines for selection and retention of investment managers or funds, allocation of plan assets and performance review procedures and updating of the policy. The objective of the committee's investment policy is to manage the plan assets in such a way that will allow for the on-going payment of the Company's obligation to the beneficiaries.


Weighted average assumptions used to determine benefit obligation:	December 31, 2021		December 31, 2020
Discount Rate	3.27	%	3.06	%
Expected Long-term Rate of Return	5.35	%	5.47	%
Rate of Compensation Increase	N/A		N/A

The discount rate used to determine the net periodic cost at the beginning of the period was 3.06%.

Schedule of Pension Plan Assets Allocations

Pension plan asset allocations at December 31, 2021 by asset category are as follows:


December 31, 2021
	Target %		Minimum		Maximum
Equity securities	67	%	58	%	76	%
Fixed Income	20	%	11	%	29	%
Alternative Investments	11	%	2	%	20	%
Cash and Equivalents	2	%	—	%	7	%

Schedule of Pension Plan Assets Measured at Fair Value

A summary of total investments for our pension plan assets measured at fair value is presented as of December 31 for the periods below:


	2021								2020
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	2,989	$	—	$	—	$	2,989	$	32,043	$	—	$	—	$	32,043
Equity securities	25,309		—		—		25,309		—		—		—		—
Fixed income and other securities	6,990		—		—		6,990		—		—		—		—
	$	35,288	$	—	$	—	$	35,288	$	32,043	$	—	$	—	$	32,043