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Pensions (Tables)
 12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Schedule of Net Benefit Costs
The following table details the Other components of net periodic pension (benefit) cost for the Company's pension plans:
Years Ended December 31,
(in thousands)202220212020
Interest cost$14,017 $10,469 $13,949 
Expected return on assets(13,534)(11,560)(16,027)
Settlement (gain)/loss(1,492)(374)819 
Remeasurement (gain)/loss(43,603)(13,364)43,495 
Net periodic pension (benefit) cost
$(44,612)$(14,829)$42,236 
Defined Benefit Plan, Assumptions
The following table sets forth the weighted-average assumptions used for determining the Company's net periodic pension (benefit) cost:
 Years Ended December 31,
 202220212020
Pension benefit obligations discount rate2.77 %2.39 %3.16 %
Interest cost discount rate2.37 %1.71 %2.74 %
Expected return on plan assets, net of administrative expenses3.18 %2.69 %3.73 %
Interest crediting rate3.02 %3.01 %3.00 %
Rate of compensation expense increaseN/AN/AN/A

The following table sets forth the weighted-average assumptions used for determining the Company's pension benefit obligations:
 Years Ended December 31,
 20222021
Pension benefit obligations discount rate5.14 %2.77 %
Interest crediting rate3.02 %3.01 %
Rate of compensation increaseN/AN/A
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan
The following table summarizes the benefit obligations, plan assets, and funded status associated with the Company's pension and benefit plan:

 (in thousands)
20222021
Change in Benefit Obligations
Balance as of January 1$591,967 $636,497 
Interest cost14,017 10,469 
Actuarial (gain) loss, net(117,958)(12,565)
Benefits paid(43,127)(42,434)
Balance as of December 31$444,899 $591,967 
 
Change in Plan Assets
Balance as of January 1$450,713 $444,228 
Plan contributions23,242 36,185 
Actual return on plan assets, net of administrative expenses(59,330)12,734 
Benefits paid(43,127)(42,434)
Balance as of December 31$371,498 $450,713 
 
Funded Status as of December 31 (plan assets less benefit obligations)$(73,401)$(141,254)
Schedule of Cash Contributions made by the Company
The following table sets forth cash contributions made by the Company to its qualified and non-qualified plans during the years ended December 31, 2022, 2021 and 2020:
Years Ended December 31,
(in thousands)202220212020
Qualified plans$22,500 $35,000 $43,875 
Non-qualified plans742 1,176 1,034 
Schedule of Amounts Recognized in Balance Sheet
The following table sets forth the amounts associated with pension plans recognized within Pension obligations, net on the Company's consolidated balance sheets:

(in thousands)December 31, 2022December 31, 2021
Current liabilities$(811)$(1,087)
Long-term liabilities(72,590)(140,167)
Total pension liability as of December 31$(73,401)$(141,254)
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets
The following table sets forth the amounts associated with the Company's pension plans that have accumulated pension obligations greater than plan assets (underfunded):

(in thousands)December 31, 2022December 31, 2021
Accumulated benefit obligations$444,899 $591,967 
Projected benefit obligations444,899 591,967 
Plan assets$371,498 $450,713 
Schedule of Expected Benefit Payments
The following table sets forth the Company's expected future pension benefit payments:
(in thousands)Expected Future
Pension Benefit
Payments
2023$45,882
202437,689
202537,525
202637,113
202735,943
2028 to 2032162,154
Schedule of Allocation of Plan Assets
The following tables set forth the fair values of the Company's pension plan assets by asset category:

 December 31, 2022
(in thousands)TotalLevel 1
(Quoted
Market Prices
in Active
Markets)		Level 2
(Significant
Observable
Input)		Level 3
(Unobservable
Inputs)
Cash and cash equivalents$3,002 $3,002 $— $— 
Equity funds35,000 35,000 — — 
U.S. treasuries and agencies61,749 — 61,749 — 
Corporate bond funds159,411 159,411 — — 
Total$259,162 $197,413 $61,749 $— 
Hedge funds-investments measured at net asset value (“NAV”) as a practical expedient
112,336 
Total plan assets$371,498 

 December 31, 2021
 TotalLevel 1
(Quoted
Market Prices
in Active
Markets)		Level 2
(Significant
Observable
Input)		Level 3
(Unobservable
Inputs)
Cash and cash equivalents$10,687 $10,687 $— $— 
Equity funds92,689 92,689 — — 
U.S. treasuries and agencies41,535 — 41,535 — 
Corporate bond funds184,034 184,034 — — 
Total$328,945 $287,410 $41,535 $— 
Hedge funds-investments measured at NAV as a practical expedient121,768 
Total plan assets$450,713 
The following table sets forth the weighted asset allocation percentages for the pension plans by asset category:

December 31,
 20222021
Cash and cash equivalents0.8 %2.4 %
U.S. treasuries and agencies, corporate bond funds, and other fixed income59.5 %50.0 %
Equity funds9.4 %20.6 %
Hedge funds30.3 %27.0 %
Total100.0 %100.0 %