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Pension Plan and Other Postretirement Benefits
 6 Months Ended
Jun. 30, 2025
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 (other postretirement benefit plans). Participants are required to pay a premium, which offsets a portion of the cost.
Cash contributions made by the Company to the pension plans were $3.3 million and $0.2 million for the six months ended June 30, 2025 and 2024, respectively. No cash contributions were made by the Company to the other postretirement benefit plans for the six months ended June 30, 2025 and 2024, respectively. The Company estimates in 2025 that the annual contribution to the pension plans will be $5.2 million and no cash annual contribution will be made to the other postretirement plans.
The following tables list 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 benefit plans.
Pension PlanOther Benefits
 Three Months Ended June 30,
 2025202420252024
Service cost$5,207 $5,648 $1,408 $1,520 
Interest cost9,553 8,881 1,773 1,684 
Expected return on plan assets(12,793)(13,236)(3,197)(2,987)
Amortization of prior service cost131 131 39 39 
Recognized net actuarial loss (gain)
194 189 (522)(198)
Net periodic benefit cost (credit)$2,292 $1,613 $(499)$58 
Pension PlanOther Benefits
 Six Months Ended June 30,
 2025202420252024
Service cost$10,414 $11,296 $2,816 $3,040 
Interest cost19,106 17,762 3,546 3,368 
Expected return on plan assets(25,586)(26,472)(6,394)(5,974)
Amortization of prior service cost262 262 78 78 
Recognized net actuarial loss (gain)
388 378 (1,044)(396)
Net periodic benefit cost (credit)$4,584 $3,226 $(998)$116 

The service cost portion of the pension plan and other postretirement benefit plans is recognized in administrative and general expenses within the unaudited 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 losses (gains) and are reported together as other components of net periodic benefit cost in other income and expenses within the unaudited Condensed Consolidated Statements of Operations.