Employee Benefits (Tables)

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Summary of Components of Net Pension Expense

The components of net pension expense for the plans for the periods indicated are as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(In thousands)
Components of net periodic benefit cost:
Service cost	$	8,094	$	7,896	$	24,278	$	23,690
Interest cost	2,429		1,269		7,289		3,805
Expected return on plan assets	(9,280)		(8,141)		(27,842)		(24,424)
Prior service credit	(2,971)		(2,945)		(8,911)		(8,835)
Recognized net actuarial loss	2,799		3,537		8,395		10,612
Net periodic benefit cost	$	1,071	$	1,616	$	3,209	$	4,848

Schedule of Assets Held in Rabbi Trust

The following table presents the book value, mark-to-market, and fair value of assets held in rabbi trust accounts by asset type:

	As of September 30, 2022						As of December 31, 2021
	Book Value		Mark-to-Market		Fair Value		Book Value		Mark-to-Market		Fair Value
Asset Type	(In thousands)
Cash and cash equivalents	$	5,427	$	—	$	5,427	$	4,494	$	—	$	4,494
Equities (1)	59,424		(132)		59,292		67,401		24,295		91,696
Fixed income	7,810		(879)		6,931		8,126		56		8,182
Total assets	$	72,661	$	(1,011)	$	71,650	$	80,021	$	24,351	$	104,372

(1)Equities include mutual funds and other exchange-traded funds.

Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

The following table summarizes the Company’s restricted stock award activity for the nine months ended September 30, 2022:

	Number of Shares	Weighted-Average Grant Price Per Share
Non-vested restricted stock as of December 31, 2021	683,056	$	20.13
Granted	31,559	19.17
Non-vested restricted stock as of September 30, 2022	714,615	$	20.09

The following table summarizes the Company’s restricted stock unit activity for the nine months ended September 30, 2022:

	Number of Shares	Weighted-Average Grant Price Per Share
Non-vested restricted stock units as of December 31, 2021	—	$	—
Granted	978,364	21.08
Forfeited	(6,039)	21.08
Non-vested restricted stock units as of September 30, 2022	972,325	$	21.08

Share-Based Payment Arrangement, Performance Shares, Activity

The following table summarizes the Company’s performance stock unit activity for the nine months ended September 30, 2022:

	Number of Shares	Weighted-Average Grant Price Per Share
Non-vested performance stock units as of December 31, 2021	—	$	—
Granted	533,676	21.12
Non-vested performance stock units as of September 30, 2022	533,676	$	21.12