Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Summary of Changes in Benefit Obligation

The following table summarizes the changes in benefit obligation for the years ended December 31, 2022 and 2021 for this plan (in thousands):

	For the Years Ended December 31,
	2022			2021
Benefit obligation at beginning of year	$	16,906		$	—
Prior service cost at initiation of plan		—			15,625
Service cost		5,291			1,166
Interest cost		514			113
Actuarial (gain) loss		(4,695	)		16
Benefits paid net of participant contributions		(11	)		(14	)
Benefit obligation at end of year	$	18,005		$	16,906

Summary of Amounts Recognized in Consolidated Balance Sheets

The following table summarizes the amounts recognized in the consolidated balance sheets as of December 31, 2022 and 2021 for this plan (in thousands):

	As of December 31,
	2022			2021
Accrued expenses and other current liabilities	$	(236	)	$	(83	)
Other long-term liabilities		(17,769	)		(16,823	)
Amounts recognized on the consolidated balance sheet	$	(18,005	)	$	(16,906	)

Summary of Amounts Recognized in Accumulated Other Comprehensive Loss

The following table summarizes the amounts recognized in accumulated other comprehensive loss for the years ended December 31, 2022 and 2021 for this plan (in thousands):

	As of December 31,
	2022			2021
Prior service cost	$	13,999		$	15,300
Actuarial (gain) loss		(4,679	)		16
Accumulated other comprehensive loss before income taxes	$	9,320		$	15,316

Summary of Total Benefit Payments, Which Reflect Expected Future Service, Expected to Be Paid to Plan Participants

The following table summarizes total benefit payments, which reflect expected future service, expected to be paid to plan participants (in thousands):

2023	$	236
2024		423
2025		638
2026		1,015
2027		1,479
2028 to 2031		13,827

Summary of Net Period Benefit Cost Recognized and Amounts Recognized in Other Comprehensive (Income) Loss

The following table summarizes net period benefit cost recognized and the amounts recognized in other comprehensive (income) loss for the years ended December 31, 2022 and 2021 (in thousands):

	For the Years Ended December 31,
	2022			2021
Service cost	$	5,291		$	1,166
Interest cost		514			113
Amortization of prior service cost		1,301			325
Net periodic benefit cost		7,106			1,604
Prior service cost		—			15,625
Amortization of prior service cost		(1,301	)		(325	)
Actuarial (gain) loss		(4,695	)		16
Total recognized in other comprehensive (income) loss		(5,996	)		15,316
Total recognized in net periodic benefit cost and other comprehensive (income) loss	$	1,110		$	16,920

Summary of Weighted-Average Assumptions and Health Care Cost Trend Rates Used to Determine Benefit Obligation

The following table summarizes weighted-average assumptions and health care cost trend rates used to determine the benefit obligation as of December 31, 2022 and 2021:

	As of December 31,
	2022			2021
Discount rate		5.16	%		2.89	%
Health care cost trend rate assumed for next year		6.06	%		6.29	%
Rate to which the cost trend rate is assumed to decline (the “Ultimate trend rate”)		4.44	%		4.44	%
Year that the rate reaches the ultimate trend rate	2030			2030

Summary of Weighted-Average Assumptions and Health Care Cost Trend Rates Used to Determine Net Periodic Benefit Costs

The following table summarizes weighted-average assumptions and health care cost trend rates used to determine the net periodic benefit costs for the years ended December 31, 2022 and 2021:

	For the Years Ended December 31,
	2022			2021
Discount rate		2.89	%		2.89	%
Health care cost trend rate assumed for next year		6.29	%		6.29	%
Ultimate trend rate		4.44	%		4.44	%
Year that the rate reaches the ultimate trend rate	2030			2030