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Pension and Other Postretirement Plans (Tables)
6 Months Ended
Jun. 30, 2024
Retirement Benefits [Abstract]  
Schedule of Net Periodic Benefit Costs

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

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(In thousands)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Pension Benefits

 

 

 

 

 

 

 

 

 

 

 

 

Components of net periodic benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

780

 

 

$

694

 

 

$

1,539

 

 

$

1,446

 

Interest cost

 

 

4,315

 

 

 

4,337

 

 

 

8,559

 

 

 

8,659

 

Expected return on assets

 

 

(7,148

)

 

 

(6,302

)

 

 

(14,299

)

 

 

(12,624

)

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

Actuarial loss

 

 

313

 

 

 

492

 

 

 

429

 

 

 

880

 

Net periodic benefit (credit) cost

 

$

(1,740

)

 

$

(779

)

 

$

(3,772

)

 

$

(1,639

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Postretirement Benefits

 

 

 

 

 

 

 

 

 

 

 

 

Components of net periodic benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

217

 

 

$

190

 

 

$

428

 

 

$

390

 

Interest cost

 

 

779

 

 

 

835

 

 

 

1,576

 

 

 

1,654

 

Expected return on assets

 

 

(693

)

 

 

(646

)

 

 

(1,384

)

 

 

(1,297

)

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

Transition obligation

 

 

 

 

 

 

 

 

1

 

 

 

1

 

Prior service credit

 

 

(4

)

 

 

 

 

 

(8

)

 

 

 

Actuarial (gain) loss

 

 

(129

)

 

 

(65

)

 

 

(206

)

 

 

(95

)

Net periodic benefit (credit) cost

 

$

170

 

 

$

314

 

 

$

407

 

 

$

653