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Postretirement Benefits (Tables)
 9 Months Ended
Sep. 30, 2020
Retirement Benefits [Abstract]  
Pension Assets by Component at Fair Value
Pension Assets by Component at September 30, 2020
 Fair Value Determined by:  
 
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
Total
Amount
% to
Total
Corporate bonds:
Financial$— $53,219 $— $53,219 11 
Utilities— 45,364 — 45,364 9 
Energy— 21,100 — 21,100 4 
Other corporates— 92,372 — 92,372 19 
Total corporate bonds— 212,055 — 212,055 43 
Exchange traded fund(1)
217,649 — — 217,649 43 
Other bonds— 264 — 264 — 
Guaranteed annuity contract(2)
— 30,250 — 30,250 6 
Short-term investments18,023 — — 18,023 4 
Other6,883 — — 6,883 1 
$242,555 $242,569 $— 485,124 97 
Other long-term investments(3)
15,649 3 
Total pension assets
$500,773 100 
(1)A fund including marketable securities that mirror the S&P 500 index.
(2)Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Life Insurance Company Non-Exempt Employees Defined Benefit Pension Plan ("American Income Pension Plan").
(3)Included in other long-term investments is an investment fund that reports the Pension Plan's pro-rata share of the limited partnership's net asset value per share or its equivalent (NAV), as a practical expedient for fair value. The Pension Plan owns less than 1% of the investment fund. As of September 30, 2020, the expected term of the investment fund is approximately 4 years and the commitment of the investment is fully funded. The investment is non-redeemable. The investment fund strategy is opportunistic, applying a comprehensive relative value approach across various asset classes and opportunities in public and private markets, geographies, and capital structures.
Pension Assets by Component at December 31, 2019
 Fair Value Determined by:  
 
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
Significant
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
Total
Amount
% to
Total
Corporate bonds:
Financial$— $51,111 $— $51,111 11 
Utilities— 42,758 — 42,758 9 
Energy— 21,907 — 21,907 5 
Other corporates— 89,725 — 89,725 19 
Total corporate bonds— 205,501 — 205,501 44 
Exchange traded fund(1)
207,176 — — 207,176 44 
Other bonds— 251 — 251 — 
Guaranteed annuity contract(2)
— 28,278 — 28,278 6 
Short-term investments8,414 — — 8,414 2 
Other6,876 — — 6,876 1 
$222,466 $234,030 $— 456,496 97 
Other long-term investments(3)
12,267 3 
Total pension assets
$468,763 100 
(1)A fund including marketable securities that mirror the S&P 500 index.
(2)Representing a guaranteed annuity contract issued by Globe Life Inc.'s subsidiary, American Income Life Insurance Company, to fund the obligations of the American Income Pension Plan.
(3)Included in other long-term investments is an investment fund that reports the Pension Plan's pro-rata share of the limited partnership's net asset value per share or its equivalent (NAV), as a practical expedient for fair value. The Pension Plan owns approximately 1% of the investment fund. As of December 31, 2019, the expected term of the investment fund is approximately 5 years and the unfunded commitment of the investment fund is $4.1 million. The investment is non-redeemable. The investment fund strategy is opportunistic, applying a comprehensive relative value approach across various asset classes and opportunities in public and private markets, geographies, and capital structures.
Information Regarding the SERP The following table includes information regarding the SERP.
Nine Months Ended
September 30,
20202019
Premiums paid for insurance coverage$2,480 $2,394 
September 30,
2020		December 31,
2019
Total investments:
Company owned life insurance $50,985 $47,733 
Exchange traded funds68,862 65,585 
$119,847 $113,318 
Pension Liability The following table presents liabilities for the defined benefit pension plans and SERP at September 30, 2020 and December 31, 2019.
September 30,
2020		December 31,
2019
Defined benefit pension$602,174 $578,860 
SERP87,018 86,347 
Pension benefit obligation $689,192 $665,207 
Net Periodic Benefit Cost The following table presents the net periodic benefit costs for the defined benefit pension plans and SERP by expense components for the three and nine months ended September 30, 2020 and 2019.
Components of Net Periodic Benefit Cost
Three Months Ended
September 30,		Nine Months Ended
September 30,
 2020201920202019
Service cost$6,116 $4,982 $18,347 $14,947 
Interest cost5,653 5,964 16,951 17,892 
Expected return on assets(7,390)(6,966)(22,171)(20,898)
Amortization:
Prior service cost158 158 474 474 
Actuarial (gain) loss3,921 1,894 11,770 5,684 
Net periodic benefit cost
$8,458 $6,032 $25,371 $18,099