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Retirement plans (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Plans Disclosures
Pension costs, which primarily include costs for our qualified TRP and non-qualified SERP, are presented in the following table (in thousands):
202120202019
Service cost-benefits earned during the period$2 $7 $8 
Interest cost on benefit obligation15,887 19,487 23,066 
Expected return on plan assets(34,679)(31,058)(26,320)
Amortization of prior service cost90 90 90 
Amortization of actuarial loss4,952 6,207 6,123 
Pension payment timing related charge946 — 686 
(Income from) expense for company-sponsored retirement plans$(12,802)$(5,267)$3,653 
Schedule of Changes in Projected Benefit Obligations
The following table provides a reconciliation of pension benefit obligations (on a projected benefit obligation measurement basis), plan assets and funded status of company-sponsored retirement plans, along with the related amounts that are recognized in the Consolidated Balance Sheets (in thousands).
Dec. 31,
20212020
Change in benefit obligations
Benefit obligations as of beginning of year$646,662 $613,695 
Service cost2 7 
Interest cost15,887 19,487 
Actuarial (gain)/loss(18,246)48,491 
Benefits paid(35,874)(35,018)
Settlements (1)
(2,597)— 
Benefit obligations as of end of year$605,834 $646,662 
Change in plan assets
Fair value of plan assets as of beginning of year$552,996 $479,735 
Actual gains return on plan assets20,896 103,146 
Employer contributions6,337 5,133 
Benefits paid(35,874)(35,018)
Settlements (1)
(2,597)— 
Fair value of plan assets as of end of year$541,758 $552,996 
Funded status as of end of year$(64,076)$(93,666)
Amounts recognized in Consolidated Balance Sheets
Accrued liabilities other—current$(6,013)$(7,758)
Pension liabilities—non-current$(58,063)$(85,908)
(1) Settlements represent lump sum benefit payments to certain SERP plan participants. When aggregate lump sums exceed the settlement threshold, pension payment timing related charges are incurred, and the lump sum payments prompting the charge are shown on a separate line from other benefit payments.
Schedule of Net Funded Status
The funded status (on a projected benefit obligation basis) of our principal retirement plans as of December 31, 2021, is as follows (in thousands):
Fair Value of Plan AssetsBenefit ObligationFunded Status
TRP$541,758 $543,029 $(1,271)
SERP (1)
62,444 (62,444)
All other361 (361)
Total$541,758 $605,834 $(64,076)
(1) The SERP is an unfunded, unsecured liability.
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
The following table presents information for our retirement plans for which accumulated benefit obligation exceed assets (in thousands):
Dec. 31,
20212020
Accumulated benefit obligation$605,817 $646,644 
Fair value of plan assets$541,758 $552,996 
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
The following table presents information for our retirement plans for which projected benefit obligations exceed assets (in thousands):
Dec. 31,
20212020
Projected benefit obligation$605,834 $646,662 
Fair value of plan assets$541,758 $552,996 
Schedule of Net Periodic Benefit Cost Not yet Recognized
The following table summarizes the pre-tax amounts recorded in accumulated other comprehensive loss that have not yet been recognized as a component of pension expense (in thousands):
Dec. 31,
20212020
Net actuarial losses$(148,696)$(159,057)
Prior service cost(1,617)(1,707)
Amounts in accumulated other comprehensive loss$(150,313)$(160,764)
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss), pre-tax, consist of the following (in thousands):
202120202019
Current year net actuarial gain (loss)$4,463 $23,597 $(13,060)
Amortization of actuarial loss4,952 6,207 6,123 
Amortization of previously deferred prior service costs90 91 90 
Pension payment timing related charges946 — 686 
Total$10,451 $29,895 $(6,161)
Schedule of Assumptions Used
Pension costs: The following assumptions were used to determine net pension costs:
202120202019
Discount rate2.54%3.29%4.34%
Expected return on plan assets6.50%6.75%6.75%
Schedule Of Assumptions Used In Calculating Pension Benefit Obligations Table The following assumptions were used to determine the year-end benefit obligations:
Dec. 31,
20212020
Discount rate2.89%2.54%
Schedule of Allocation of Plan Assets The asset allocation for the TRP as of the end of 2021 and 2020, and target allocations for 2022, by asset category, are presented in the table below: 
Target AllocationAllocation of Plan Assets
202220212020
Equity securities14 %10 %47 %
Debt securities86 %86 %50 %
Other (including hedge funds and private real estate)— %4 %3 %
Total100 %100 %100 %
Schedule of Expected Benefit Payments We estimate we will make the following benefit payments from either retirement plan assets or directly from our funds (in thousands):
2022$42,856 
2023$39,907 
2024$39,852 
2025$40,302 
2026$39,965 
2027 through 2031$184,331