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Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Summary of Liability under Executive Benefit Plans The liability under these two deferral plans was as follows:
(in thousands)December 31, 2024December 31, 2023
Current liabilities$10,424 $7,805 
Noncurrent liabilities89,293 82,458 
Total liability - Supplemental Savings Incentive Plan and Director Deferral Plan$99,717 $90,263 
The liability under this plan was as follows:
(in thousands)December 31, 2024December 31, 2023
Current liabilities$268 $219 
Noncurrent liabilities14,660 10,633 
Total liability - Long-Term Retention Plan$14,928 $10,852 
The liability under this plan was as follows:
(in thousands)December 31, 2024December 31, 2023
Current liabilities$3,489 $3,591 
Noncurrent liabilities32,486 35,663 
Total liability - Officer Retention Plan$35,975 $39,254 
The liability under this plan was as follows:
(in thousands)December 31, 2024December 31, 2023
Current liabilities$9,588 $9,104 
Noncurrent liabilities9,541 8,975 
Total liability - Long-Term Performance Plan$19,129 $18,079 
Summary of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost
Net Periodic Pension Cost

 Fiscal Year
(in thousands)202420232022
Service cost$4,330 $3,996 $6,586 
Interest cost2,379 2,079 1,664 
Expected return on plan assets(3,050)(2,438)(1,823)
Recognized net actuarial loss— — 402 
Amortization of prior service costs16 16 — 
Net periodic pension cost - Bargaining Plan$3,675 $3,653 $6,829 
Net Periodic Postretirement Benefit Cost

 Fiscal Year
(in thousands)202420232022
Service cost$1,163 $1,085 $1,458 
Interest cost3,102 2,761 1,923 
Recognized net actuarial loss44 — 444 
Net periodic postretirement benefit cost$4,309 $3,846 $3,825 
Summary of Changes in Projected Benefit Obligation
The following tables set forth pertinent information for the Bargaining Plan:

 Fiscal Year
(in thousands)20242023
Beginning balance - Bargaining Plan projected benefit obligation$46,123 $39,177 
Service cost4,330 3,996 
Interest cost2,379 2,079 
Plan amendments— 5 
Actuarial (gain) loss(7,000)1,652 
Benefits paid(897)(786)
Ending balance - Bargaining Plan projected benefit obligation$44,935 $46,123 
Summary of Change in Plan Assets
Change in Plan Assets

 Fiscal Year
(in thousands)20242023
Beginning balance - Bargaining Plan assets at fair value$47,321 $38,635 
Actual return on plan assets1,424 5,495 
Employer contributions2,000 4,300 
Benefits and expenses paid(1,128)(1,109)
Ending balance - Bargaining Plan assets at fair value$49,617 $47,321 
Summary of Funded Status
Funded Status

(in thousands)December 31, 2024December 31, 2023
Projected benefit obligation$(44,935)$(46,123)
Plan assets at fair value49,617 47,321 
Net funded status - Bargaining Plan$4,682 $1,198 
Summary of Amounts Recognized in the Consolidated Balance Sheet
Amounts Recognized in the Consolidated Balance Sheets

(in thousands)December 31, 2024December 31, 2023
Assets:
 Noncurrent assets $4,682 $1,198 
Total asset - Bargaining Plan$4,682 $1,198 
Summary of Significant Assumptions
Significant Assumptions

 Fiscal Year
 202420232022
Projected benefit obligation at the measurement date:
Discount rate - Bargaining Plan5.89 %5.16 %5.34 %
Weighted average rate of compensation increaseN/AN/AN/A
Net periodic pension cost for the fiscal year:
Discount rate - Bargaining Plan5.16 %5.34 %3.31 %
Weighted average expected long-term rate of return of plan assets - Bargaining Plan(1)
7.00 %7.00 %5.50 %
Weighted average rate of compensation increaseN/AN/AN/A

(1)The weighted average expected long-term rate of return assumption for the Bargaining Plan assets, which was used to compute net periodic pension cost, is based upon target asset allocation and is determined using forward-looking performance and duration assumptions set at the beginning of each fiscal year.
Summary of Anticipated Future Pension and Postretirement Benefit Payments
Cash Flows

The anticipated future pension benefit payments as of December 31, 2024 were as follows:

(in thousands)Anticipated Future Payment
2025$1,162 
20261,348 
20271,557 
20281,786 
20292,006 
2030 - 203414,142 
Cash Flows

The anticipated future postretirement benefit payments reflecting expected future service as of December 31, 2024 were as follows:

(in thousands)Anticipated Future Payment
2025$3,598 
20264,020 
20274,514 
20284,858 
20294,907 
2030 - 203426,237 
Summary of Target Asset Allocation, Actual Asset Allocation, and Weighted Average Expected Long-Term Rate of Return and Summary of Pension Plan Assets
The Company’s actual asset allocation at December 31, 2024 and December 31, 2023 and target asset allocation for fiscal year 2025 by asset category for the Bargaining Plan were as follows:

Percentage of Bargaining Plan
Assets at Fiscal Year-End		Target Asset
Allocation
202420232025
U.S. debt securities50 %49 %50 %
U.S. equity securities26 %33 %26 %
International debt securities3 %1 %— %
International equity securities13 %10 %10 %
Cash and cash equivalents1 %1 %2 %
Other7 %6 %12 %
Total100 %100 %100 %
The following table summarizes the Bargaining Plan assets, which are classified as Level 1 and Level 2 for fair value measurement. The Company does not have any Level 3 pension plan assets. See Note 16 for additional information.

(in thousands)December 31, 2024December 31, 2023
Pension plan assets - fixed income$26,243 $23,824 
Pension plan assets - equity securities19,468 20,550 
Pension plan assets - cash and cash equivalents671 228 
Pension plan assets - other3,235 2,719 
Total pension plan assets$49,617 $47,321 
Summary of Reconciliation of Activity in Postretirement Benefit Plan
The following tables set forth pertinent information for the Company’s postretirement benefit plan:

Reconciliation of Activity

 Fiscal Year
(in thousands)20242023
Benefit obligation at beginning of year$63,828 $55,299 
Service cost1,163 1,085 
Interest cost3,102 2,761 
Plan participants’ contributions707 767 
Actuarial (gain) loss(2,920)7,986 
Benefits paid(3,780)(4,070)
Benefit obligation at end of year$62,100 $63,828 

Updates to demographic assumptions and the increase in the discount rate for the postretirement benefit plan, as compared to the previous year, partially offset by updates to claims trends, were the primary drivers of the actuarial gain in 2024. The decrease in the discount rate for the postretirement benefit plan, as compared to the previous year, was the primary driver of the actuarial loss in 2023. The actuarial (gain) loss, net of tax, was recorded in accumulated other comprehensive income (loss) in the consolidated balance sheets.
Summary of Reconciliation of Plan Assets Fair Value in Postretirement Benefit Plan
Reconciliation of Plan Assets Fair Value

 Fiscal Year
(in thousands)20242023
Fair value of plan assets at beginning of year$— $— 
Employer contributions3,073 3,303 
Plan participants’ contributions707 767 
Benefits paid(3,780)(4,070)
Fair value of plan assets at end of year$— $— 
Summary of Funded Status in Postretirement Benefit Plan
Funded Status

(in thousands)December 31, 2024December 31, 2023
Current liabilities$(3,598)$(3,214)
Noncurrent liabilities(58,502)(60,614)
Total liability - postretirement benefits$(62,100)$(63,828)
Summary of Significant Assumptions
Significant Assumptions

 Fiscal Year
 202420232022
Benefit obligation at the measurement date:
Weighted average healthcare cost trend rate - Pre-Medicare8.45 %7.88 %6.58 %
Weighted average healthcare cost trend rate - Post-Medicare9.73 %8.65 %6.89 %
Benefit obligation discount rate5.68 %5.02 %5.19 %
Net periodic postretirement benefit cost discount rate for fiscal year5.02 %5.19 %2.98 %
Postretirement benefit expense - Pre-Medicare:
Weighted average healthcare cost trend rate7.88 %6.58 %6.04 %
Trend rate graded down to ultimate rate4.50 %4.50 %4.50 %
Ultimate rate year203320322029
Postretirement benefit expense - Post-Medicare:
Weighted average healthcare cost trend rate8.65 %6.89 %6.29 %
Trend rate graded down to ultimate rate4.50 %4.50 %4.50 %
Ultimate rate year203320322029
Summary of Reconciliation of Amounts in Accumulated Other Comprehensive Loss That Have Not Yet Been Recognized as Components of Net Periodic Benefit Cost
A reconciliation of the gross amounts in accumulated other comprehensive income (loss) not yet recognized as components of net periodic benefit cost associated with the plans discussed above is as follows:

(in thousands)December 31,
2023		Actuarial GainReclassification
Adjustments		December 31,
2024
Bargaining Plan:
Actuarial gain$218 $5,144 $— $5,362 
Prior service costs(147)— 16 (131)
Postretirement Medical:
Actuarial loss(7,216)2,920 44 (4,252)
Total within accumulated other comprehensive income (loss)$(7,145)$8,064 $60 $979 
Summary of Multiemployer Plans
The Company’s participation in the Teamsters Plan is outlined in the table below. A red zone represents less than 80% funding and requires a financial improvement plan (“FIP”) or rehabilitation plan (“RP”).

 Fiscal Year
(in thousands)202420232022
Pension Protection Act Zone StatusRedRedRed
FIP or RP pending or implementedYesYesYes
Surcharge imposedYesYesYes
Contribution$1,032 $999 $959