Pension and Other Postretirement Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Changes in Accumulated Postemployment Benefit Obligations

The reconciliation of changes in the benefit obligation, plan assets and funded status of these plans at December 31, 2022 and 2021 is as follows:


	Pension Benefits at December 31,				Other Postretirement Benefits at December 31,
	2022		2021		2022		2021
Change in benefit obligation:
Benefit obligation at beginning of period	$	723,006	$	778,868	$	353,297	$	413,710
Service cost	1,207		1,114		—		—
Interest cost	16,539		14,230		7,898		7,274
Actuarial gain	(173,233)		(25,073)		(84,810)		(42,836)
Plan settlement	—		(719)		—		—
Benefits and other payments	(43,307)		(45,414)		(21,356)		(24,851)
Benefit obligation at end of period	$	524,212	$	723,006	$	255,029	$	353,297

Change in plan assets:
Fair value of plan assets at beginning of period	$	733,966	$	740,978	$	—	$	—
Actual return on plan assets	(151,968)		36,867		—		—
Company contributions	1,534		2,254		21,356		24,851
Benefits and other payments	(43,307)		(45,414)		(21,356)		(24,851)
Plan settlement	—		(719)		—		—
Fair value of plan assets at end of period	$	540,225	$	733,966	$	—	$	—

Funded status:
Noncurrent assets	$	38,548	$	38,947	$	—	$	—
Current liabilities	(1,950)		(1,974)		(22,436)		(23,638)
Noncurrent liabilities	(20,585)		(26,013)		(232,593)		(329,659)
Net asset (obligation) recognized	$	16,013	$	10,960	$	(255,029)	$	(353,297)

Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial loss (gain)	$	244,700	$	231,726	$	(5,473)	$	82,851
Prior service credit	—		—		(13,734)		(16,138)
Net amount recognized (before tax effect)	$	244,700	$	231,726	$	(19,207)	$	66,713

The reconciliation of changes in the benefit obligation and funded status of these plans at December 31, 2022 and 2021 is as follows:


	CWP at December 31,				Workers' Compensation at December 31,
	2022		2021		2022		2021
Change in benefit obligation:
Benefit obligation at beginning of period	$	215,871	$	241,923	$	67,261	$	73,441
State administrative fees and insurance bond premiums	—		—		1,817		1,778
Service cost	2,905		4,460		4,920		4,236
Interest cost	5,060		4,710		1,369		1,127
Actuarial gain	(46,498)		(22,256)		(14,422)		(2,039)
Benefits paid	(16,225)		(12,966)		(10,601)		(11,282)
Benefit obligation at end of period	$	161,113	$	215,871	$	50,344	$	67,261

Funded status:
Current assets	$	—	$	—	$	1,058	$	1,092
Current liabilities	(12,723)		(12,398)		(10,451)		(10,205)
Noncurrent liabilities	(148,390)		(203,473)		(40,951)		(58,148)
Net obligation recognized	$	(161,113)	$	(215,871)	$	(50,344)	$	(67,261)

Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial (gain) loss	$	(10,098)	$	40,638	$	(24,727)	$	(10,726)
Net amount recognized (before tax effect)	$	(10,098)	$	40,638	$	(24,727)	$	(10,726)

Schedule of Net Benefit Costs

The components of net periodic benefit (credit) cost are as follows:


	Pension Benefits						Other Postretirement Benefits
	For the Years Ended December 31,						For the Years Ended December 31,
	2022		2021		2020		2022		2021		2020
Components of net periodic benefit (credit) cost:
Service cost	$	1,207	$	1,114	$	1,183	$	—	$	—	$	—
Interest cost	16,539		14,230		20,176		7,898		7,274		12,795
Expected return on plan assets	(37,276)		(42,168)		(41,821)		—		—		—
Amortization of prior service credits	—		—		—		(2,405)		(2,405)		(2,405)
Recognized net actuarial loss	3,037		5,469		6,922		3,515		6,516		9,277
Settlement loss recognized	—		22		—		—		—		—
Net periodic benefit (credit) cost	$	(16,493)	$	(21,333)	$	(13,540)	$	9,008	$	11,385	$	19,667

The components of net periodic benefit cost are as follows:


	CWP For the Years Ended December 31,						Workers’ Compensation For the Years Ended December 31,
	2022		2021		2020		2022		2021		2020
Service cost	$	2,905	$	4,460	$	4,603	$	4,920	$	4,236	$	6,276
Interest cost	5,060		4,710		6,206		1,369		1,127		1,844
Recognized net actuarial loss (gain)	4,238		8,364		5,604		(420)		(179)		(488)
State administrative fees and insurance bond premiums	—		—		—		1,817		1,778		1,996
Net periodic benefit cost	$	12,203	$	17,534	$	16,413	$	7,686	$	6,962	$	9,628

Schedule of Defined Benefit Plan with Accumulated Benefit Obligation in Excess of Plan Assets

The following table provides information related to pension plans with an accumulated benefit obligation in excess of plan assets:


	As of December 31,
	2022		2021
Projected benefit obligation	$	22,535	$	27,988
Accumulated benefit obligation	$	22,203	$	27,734
Fair value of plan assets	$	—	$	—

Schedule of Weighted-Average Assumptions

The weighted-average assumptions used to determine benefit obligations are as follows:


	Pension Obligations at December 31,				Other Postretirement Obligations at December 31,
	2022		2021		2022		2021
Discount rate	5.41	%	2.83	%	5.43	%	2.79	%
Rate of compensation increase	3.89	%	3.78	%	—		—

The weighted-average assumptions used to determine net periodic benefit costs are as follows:


	Pension Benefits						Other Postretirement Benefits
	For the Years Ended December 31,						For the Years Ended December 31,
	2022		2021		2020		2022		2021		2020
Discount rate	2.83	%	2.46	%	3.35	%	2.79	%	2.39	%	3.27	%
Expected long-term return on plan assets	4.75	%	5.60	%	6.48	%	—		—		—
Rate of compensation increase	3.78	%	3.76	%	3.68	%	—		—		—

Schedule of Health Care Cost Trend Rates

The assumed health care cost trend rates are as follows:


	At December 31,
	2022		2021
Health care cost trend rate for next year	6.78	%	5.35	%
Rate to which the cost trend is assumed to decline (ultimate trend rate)	4.00	%	4.00	%
Year that the rate reaches ultimate trend rate	2048		2046

Schedule of Fair Value of Plan Assets

The fair values of plan assets at December 31, 2022 and 2021 by asset category are as follows:


	Fair Value Measurements at December 31, 2022								Fair Value Measurements at December 31, 2021
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Category
Cash/Accrued Income	$	101	$	101	$	—	$	—	$	102	$	102	$	—	$	—
Mercer Common Collective Trusts (a)	540,124		—		—		—		733,864		—		—		—
Total	$	540,225	$	101	$	—	$	—	$	733,966	$	102	$	—	$	—

(a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy but are included in the total.

Schedule of Expected Benefit Payments

The following benefit payments are expected to be paid in accordance with plan documents:


	Pension Benefits		Other Postretirement Benefits
2023	$	41,835	$	22,436
2024	$	40,604	$	21,451
2025	$	39,535	$	21,263
2026	$	40,993	$	21,045
2027	$	38,911	$	20,558
Year 2028-2032	$	186,864	$	96,770

The following benefit payments, which reflect expected future claims as appropriate, are expected to be paid:


			Workers' Compensation
	CWP Benefits		Total Benefits		Actuarial Benefits		Other Benefits
2023	$	12,723	$	11,220	$	9,393	$	1,827
2024	$	12,520	$	11,159	$	9,287	$	1,872
2025	$	12,383	$	11,189	$	9,270	$	1,919
2026	$	12,061	$	11,379	$	9,412	$	1,967
2027	$	11,824	$	11,437	$	9,421	$	2,016
Year 2028-2032	$	58,328	$	60,115	$	49,252	$	10,863