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Pension Plan and Other Postretirement Benefits
 3 Months Ended
Mar. 31, 2024
Retirement Benefits [Abstract]  
Pension Plan and Other Postretirement Benefits Pension Plan and Other Postretirement Benefits
The Company provides a qualified, defined-benefit, non-contributory pension plan for substantially all its employees. The Company makes annual contributions to fund amounts accrued for the qualified pension plan. The Company also maintains an unfunded, non-qualified SERP. The costs of the plans are charged to expense or are capitalized in utility plant as appropriate.
The Company offers medical, dental, vision, and life insurance benefits for retirees and their spouses and dependents. Participants are required to pay a premium, which offsets a portion of the cost.
No cash contributions were made by the Company to the pension plans nor the other postretirement benefit plans for the three months ended March 31, 2024. The Company made cash contributions of $2.9 million and $0.2 million, respectively, to the pension plans and other postretirement benefit plan for the three months ended March 31, 2023. The Company estimates in 2024 that the annual contribution to the pension plans will be $0.7 million and the annual contribution to the other postretirement plan will be $0.2 million.
The following table lists components of net periodic benefit costs for the pension plans and other postretirement benefits. The data listed under “pension plan” includes the qualified pension plan and the non-qualified SERP. The data listed under “other benefits” is for all other postretirement benefits.
 Three Months Ended March 31,
 Pension PlanOther Benefits
 2024202320242023
Service cost$5,648 $6,046 $1,520 $1,126 
Interest cost8,881 8,746 1,684 1,297 
Expected return on plan assets(13,236)(13,421)(2,987)(2,636)
Amortization of prior service cost131 131 39 39 
Recognized net actuarial (gain) loss189 (637)(198)(581)
Net periodic benefit cost (credit)$1,613 $865 $58 $(755)

Service cost portion of the pension plan and other postretirement benefits is recognized in administrative and general expenses within the Condensed Consolidated Statements of Operations. Other components of net periodic benefit costs include interest costs, expected return on plan assets, amortization of prior service costs, and recognized net actuarial loss and are reported together as other components of net periodic benefit cost within the Condensed Consolidated Statements of Operations.