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Pension and Other Postretirement Employee Benefits (Tables)
6 Months Ended
Jun. 30, 2022
Retirement Benefits, Description [Abstract]  
Components of Net Periodic Cost (Benefit)

The following table details the components of net periodic cost (benefit) of our pension plans and other postretirement employee benefits (OPEB):

 

 

 

Three Months Ended June 30,

 

 

 

Pension

 

 

OPEB

 

(in thousands)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Service cost

 

$

1,652

 

 

$

2,045

 

 

$

79

 

 

$

168

 

Interest cost

 

 

2,611

 

 

 

2,633

 

 

 

229

 

 

 

317

 

Expected return on plan assets

 

 

(2,258

)

 

 

(3,525

)

 

 

 

 

 

 

Amortization of prior service cost (credit)

 

 

18

 

 

 

21

 

 

 

156

 

 

 

(298

)

Amortization of actuarial loss (gain)

 

 

1,148

 

 

 

3,578

 

 

 

(95

)

 

 

545

 

Total net periodic cost

 

$

3,171

 

 

$

4,752

 

 

$

369

 

 

$

732

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

 

 

 

Pension

 

 

OPEB

 

(in thousands)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Service cost

 

$

3,501

 

 

$

4,090

 

 

$

158

 

 

$

336

 

Interest cost

 

 

5,423

 

 

 

5,266

 

 

 

458

 

 

 

634

 

Expected return on plan assets

 

 

(5,403

)

 

 

(7,050

)

 

 

 

 

 

-

 

Amortization of prior service cost (credit)

 

 

36

 

 

 

42

 

 

 

312

 

 

 

(596

)

Amortization of actuarial loss (gain)

 

 

3,102

 

 

 

7,299

 

 

 

(190

)

 

 

1,090

 

Net periodic cost before pension settlement charge

 

 

6,659

 

 

 

9,647

 

 

 

738

 

 

 

1,464

 

Pension settlement charge

 

 

14,165

 

 

 

 

 

 

 

 

 

 

Net periodic cost

 

$

20,824

 

 

$

9,647

 

 

$

738

 

 

$

1,464