Pension and Other Post-Retirement Benefit Obligations

3 Months Ended

Mar. 31, 2023

Compensation And Retirement Disclosure [Abstract]

Pension and Other Post-Retirement Benefit Obligations

Note 7. Pension and Other Post-Retirement Benefit Obligations

Defined Benefit Plans

Pension benefits are based on employees' earnings and years of service. The defined benefit plans are funded by contributions from the Company based on actuarial estimates and statutory requirements. The components of the net benefit costs for the Celgar and Peace River defined benefit plans, in aggregate for the three month periods ended March 31, 2023 and 2022 were as follows:

	Three Months Ended March 31,
	2023						2022
	Pension			Other Post- Retirement Benefits			Pension			Other Post- Retirement Benefits
Service cost	$	598		$	29		$	913		$	49
Interest cost		1,166			123			965			105
Expected return on plan assets		(1,357	)		—			(1,478	)		—
Amortization of unrecognized items		128			(241	)		62			(178	)
Net benefit costs (gains)	$	535		$	(89	)	$	462		$	(24	)

The components of the net benefit costs other than service cost are recorded in "Other income" in the Interim Consolidated Statements of Operations. The amortization of unrecognized items relates to actuarial losses (gains) and prior service costs.

Defined Contribution Plan

Effective December 31, 2008, the defined benefit plans at the Celgar mill were closed to new members and the service accrual ceased. Effective January 1, 2009, the members began to receive pension benefits, at a fixed contractual rate, under a new defined contribution plan. During the three month period ended March 31, 2023, the Company made contributions of $252 to this plan (2022 – $266).

Multiemployer Plan

The Company participates in a multiemployer plan for the hourly-paid employees at the Celgar mill. The contributions to the plan are determined based on a percentage of pensionable earnings pursuant to a collective bargaining agreement. The Company has no current or future contribution obligations in excess of the contractual contributions. During the three month period ended March 31, 2023, the Company made contributions of $523 to this plan (2022 – $558).