Employee Benefits (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Defined Benefit Plans Disclosures

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

	Three Months Ended March 31,
	2024		2023
	(In thousands)
Components of net periodic benefit cost:
Service cost	$	5,589	$	6,339
Interest cost	4,630		4,298
Expected return on plan assets	(8,453)		(7,532)
Prior service credit	(2,488)		(2,970)
Recognized net actuarial loss	1,775		2,468
Net periodic benefit cost	$	1,053	$	2,603

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

The following table summarizes the Company’s restricted stock award activity for the periods indicated:

	For the Three Months Ended March 31,
	2024			2023
Restricted Stock Awards	Number of Shares	Weighted-Average Grant Price Per Share		Number of Shares	Weighted-Average Grant Price Per Share
Non-vested restricted stock as of the beginning of the respective period	420,400	$	19.15	525,460	$	20.08
Granted	—	—		—	—
Vested	—	—		—	—
Forfeited	—	—		—	—
Non-vested restricted stock as of the end of the respective period	420,400	$	19.15	525,460	$	20.08

During both the three months ended March 31, 2024 and 2023, no RSA awards vested.

The following table summarizes the Company’s restricted stock unit activity for the periods indicated:

	For the Three Months Ended March 31,
	2024			2023
Restricted Stock Units	Number of Shares	Weighted-Average Grant Price Per Share		Number of Shares	Weighted-Average Grant Price Per Share
Non-vested restricted stock units as of the beginning of the respective period	952,001	$	19.46	972,325	$	21.08
Granted	416,276	12.81		318,577	15.63
Vested (1)	(303,015)	19.38		(230,768)	21.08
Forfeited	(4,980)	14.59		—	—
Non-vested restricted stock units as of the end of the respective period	1,060,282	$	16.89	1,060,134	$	19.44

(1)Includes 98,351 and 74,415 shares withheld upon settlement for employee taxes for the three months ended March 31, 2024 and 2023, respectively.

During the three months ended March 31, 2024 and 2023, 303,015 and 230,768 RSU awards vested, respectively. Such awards had a grant date fair value of $5.9 million and $4.9 million, respectively.

The following table summarizes the Company’s performance stock unit activity for the periods indicated:

	For the Three Months Ended March 31,
	2024			2023
Performance Stock Units	Number of Shares	Weighted-Average Grant Price Per Share		Number of Shares	Weighted-Average Grant Price Per Share
Non-vested performance stock units as of the beginning of the respective period	633,034	$	19.40	533,676	$	21.12
Granted	234,091	10.82		108,984	10.16
Vested	—	—		—	—
Forfeited	—	—		—	—
Non-vested performance stock units as of the end of the respective period	867,125	$	17.08	642,660	$	19.26

Schedule of Share-based Compensation Expense Under the 2021 Plan and the Related Tax Benefit

The following table shows share-based compensation expense under the 2021 Plan and the related tax benefit for the periods indicated:

	Three Months Ended March 31,
	2024		2023
	(In millions)
Share-based compensation expense	$	3.6	$	3.0
Related tax benefit (1)	1.0		0.8

(1)Estimated based upon the Company’s statutory rate for the respective period.