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Pension and Other Postretirement Plans (Tables)
3 Months Ended
Mar. 31, 2022
Retirement Benefits [Abstract]  
Schedule of Net Periodic Benefit Costs

The following table presents the components of net periodic benefit costs recognized.

 

 

 

Three Months Ended

 

 

 

March 31,

 

(In thousands)

 

2022

 

 

2021

 

Pension Benefits

 

 

 

 

 

 

Components of net periodic benefit cost:

 

 

 

 

 

 

Service cost

 

$

1,337

 

 

$

1,422

 

Interest cost

 

 

2,796

 

 

 

2,272

 

Expected return on assets

 

 

(7,851

)

 

 

(7,375

)

Amortization of:

 

 

 

 

 

 

Prior service credit

 

 

(5

)

 

 

(31

)

Actuarial loss

 

 

724

 

 

 

1,580

 

Net periodic benefit (credit) cost

 

$

(2,999

)

 

$

(2,132

)

 

 

 

 

 

 

 

Postretirement Benefits

 

 

 

 

 

 

Components of net periodic benefit cost:

 

 

 

 

 

 

Service cost

 

$

333

 

 

$

351

 

Interest cost

 

 

491

 

 

 

384

 

Expected return on assets

 

 

(843

)

 

 

(817

)

Amortization of:

 

 

 

 

 

 

Transition obligation

 

 

1

 

 

 

1

 

Prior service credit

 

 

(74

)

 

 

(380

)

Actuarial loss

 

 

48

 

 

 

109

 

Net periodic benefit (credit) cost

 

$

(44

)

 

$

(352

)