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Pension and Other Postretirement Plans (Tables)
3 Months Ended
Mar. 31, 2023
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)

 

2023

 

 

2022

 

Pension Benefits

 

 

 

 

 

 

Components of net periodic benefit cost:

 

 

 

 

 

 

Service cost

 

$

752

 

 

$

1,337

 

Interest cost

 

 

4,322

 

 

 

2,796

 

Expected return on assets

 

 

(6,322

)

 

 

(7,851

)

Amortization of:

 

 

 

 

 

 

Prior service credit

 

 

 

 

 

(5

)

Actuarial loss

 

 

388

 

 

 

724

 

Net periodic benefit (credit) cost

 

$

(860

)

 

$

(2,999

)

 

 

 

 

 

 

 

Postretirement Benefits

 

 

 

 

 

 

Components of net periodic benefit cost:

 

 

 

 

 

 

Service cost

 

$

200

 

 

$

333

 

Interest cost

 

 

819

 

 

 

491

 

Expected return on assets

 

 

(651

)

 

 

(843

)

Amortization of:

 

 

 

 

 

 

Transition obligation

 

 

1

 

 

 

1

 

Prior service credit

 

 

 

 

 

(74

)

Actuarial (gain) loss

 

 

(30

)

 

 

48

 

Net periodic benefit (credit) cost

 

$

339

 

 

$

(44

)