Pension and Postretirement Plans (Tables)

9 Months Ended

Sep. 30, 2020

Defined Benefit Pension Plan [Member]

Schedule of Net Benefit Costs

The total benefit arising from the Company’s defined benefit pension plans consists of the following components:

	Three Months Ended   September 30				Nine Months Ended   September 30
(in thousands)	2020		2019		2020		2019
Service cost	$	5,457	$	5,142	$	17,044	$	15,326
Interest cost	8,139		11,743		24,448		35,078
Expected return on assets	(28,347)		(30,832)		(85,081)		(91,955)
Amortization of prior service cost	708		824		2,123		2,058
Net Periodic Benefit	(14,043)		(13,123)		(41,466)		(39,493)
Special separation benefit expense	7,783		(175)		13,797		6,432
Total Benefit	$	(6,260)	$	(13,298)	$	(27,669)	$	(33,061)

Schedule of Allocation of Plan Assets

The assets of the Company’s pension plan were allocated as follows:

	As of
	September 30, 2020		December 31, 2019
U.S. equities	61	%	62	%
Private investment fund	16	%	7	%
U.S. stock index fund	9	%	14	%
U.S. fixed income	7	%	10	%
International equities	7	%	7	%
	100	%	100	%

Supplemental Executive Retirement Plan (SERP) [Member]

Schedule of Net Benefit Costs

The total cost arising from the Company’s Supplemental Executive Retirement Plan (SERP) consists of the following components:

	Three Months Ended   September 30				Nine Months Ended   September 30
(in thousands)	2020		2019		2020		2019
Service cost	$	238	$	214	$	715	$	643
Interest cost	920		1,079		2,759		3,236
Amortization of prior service cost	83		85		248		254
Recognized actuarial loss	1,316		579		3,950		1,736
Net Periodic Cost	$	2,557	$	1,957	$	7,672	$	5,869

Other Postretirement Benefit Plan, Defined Benefit [Member]

Schedule of Net Benefit Costs

Other Postretirement Plans. The total cost arising from the Company’s other postretirement plans consists of the following components:

	Three Months Ended   September 30				Nine Months Ended   September 30
(in thousands)	2020		2019		2020		2019
Interest cost	$	41	$	72	$	125	$	216
Amortization of prior service credit	(120)		(1,841)		(361)		(5,522)
Recognized actuarial gain	(1,012)		(1,090)		(3,036)		(3,270)
Net Periodic Benefit	$	(1,091)	$	(2,859)	$	(3,272)	$	(8,576)