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Pension and Other Postretirement Employee Benefits (Tables)
6 Months Ended
Jun. 30, 2023
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)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Service cost

 

$

1,355

 

 

$

1,652

 

 

$

28

 

 

$

79

 

Interest cost

 

 

3,137

 

 

 

2,611

 

 

 

293

 

 

 

229

 

Expected return on plan assets

 

 

(3,025

)

 

 

(2,258

)

 

 

 

 

 

 

Amortization of prior service cost

 

 

11

 

 

 

18

 

 

 

 

 

 

156

 

Amortization of actuarial (gain) loss

 

 

(21

)

 

 

1,148

 

 

 

(166

)

 

 

(95

)

Total net periodic cost

 

$

1,457

 

 

$

3,171

 

 

$

155

 

 

$

369

 

 

 

 

 

Six Months Ended June 30,

 

 

 

Pension

 

 

OPEB

 

(in thousands)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Service cost

 

$

2,711

 

 

$

3,501

 

 

$

55

 

 

$

158

 

Interest cost

 

 

6,275

 

 

 

5,423

 

 

 

587

 

 

 

458

 

Expected return on plan assets

 

 

(6,053

)

 

 

(5,403

)

 

 

-

 

 

 

 

Amortization of prior service cost

 

 

22

 

 

 

36

 

 

 

-

 

 

 

312

 

Amortization of actuarial (gain) loss

 

 

(42

)

 

 

3,102

 

 

 

(332

)

 

 

(190

)

Net periodic cost before pension settlement charge

 

 

2,913

 

 

 

6,659

 

 

 

310

 

 

 

738

 

Pension settlement charge

 

 

 

 

 

14,165

 

 

 

 

 

 

 

Net periodic cost

 

$

2,913

 

 

$

20,824

 

 

$

310

 

 

$

738