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Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Schedule of Change in Benefit Obligation, Plan Assets and Funded Status
The following table summarizes information about our SERP.
(In thousands)20222021
Change in benefit obligation:
Benefit obligation at beginning of the year$8,756 $9,001 
Interest cost241 213 
Actuarial (gains) losses(1,832)(99)
Benefits paid(359)(359)
Benefit obligation at end of year6,806 8,756 
Change in plan assets:
Employer contribution359 359 
Benefits paid(359)(359)
Fair value of plan assets at end of year— — 
Funded status of the plan – (underfunded)$(6,806)$(8,756)
Accumulated benefit obligations$6,806 $8,756 
Schedule of Amounts Recognized in Consolidated Balance Sheets
Amounts recognized in the consolidated balance sheets consist of:
(In thousands)20222021
Current liabilities$(464)$(458)
Noncurrent liabilities(6,342)(8,298)
$(6,806)$(8,756)
Schedule of Net Pension Costs
Net pension cost included the following components:
(In thousands)202220212020
Interest cost on projected benefit obligation$241 $213 $266 
Amortization of actuarial loss218 257 159 
Net pension costs$459 $470 $425 
Schedule of Assumptions
We use a measurement date of December 31 for our SERP plan. Assumptions used to determine net periodic benefit cost for years ended December 31 are as follows:
202220212020
Discount rate2.80 %2.41 %3.29 %
Rate of compensation increasen/an/an/a
Assumptions used to determine benefit obligations at December 31 for the SERP are as follows:
20222021
Discount rate5.43 %2.80 %
Rate of compensation increasen/an/a
Schedule of Expected Future Benefit Payments
The following schedule outlines the expected benefit payments related to the SERP in future years. These expected benefits were estimated based on the same actuarial assumptions used to determine benefit obligations at December 31, 2022.
(In thousands)202320242025202620272028-2032
Benefit Payments$464 $470 $514 $568 $586 $2,711