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Retirement Plans (Tables)
6 Months Ended
Jun. 30, 2024
Defined Benefit Plan Disclosure [Line Items]  
Net Periodic Benefit Cost

The components of net periodic benefit cost for the Company’s defined benefit plans were as follows (in thousands):

 

 

Pension Benefits

 

 

 

Pension Plans

 

 

SERP

 

 

 

Three Months Ended June 30,

 

 

Three Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Components of net periodic benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

823

 

 

$

956

 

 

$

 

 

$

 

Interest cost

 

 

4,267

 

 

 

4,572

 

 

 

9

 

 

 

10

 

Expected return on plan assets

 

 

(6,224

)

 

 

(5,732

)

 

 

 

 

 

 

Amortization of actuarial (gain) loss

 

 

(692

)

 

 

 

 

 

8

 

 

 

6

 

Net periodic benefit cost

 

$

(1,826

)

 

$

(204

)

 

$

17

 

 

$

16

 

 

 

 

Pension Benefits

 

 

 

Pension Plans

 

 

SERP

 

 

 

Six Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Components of net periodic benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

1,697

 

 

$

1,848

 

 

$

 

 

$

 

Interest cost

 

 

8,590

 

 

 

9,178

 

 

 

19

 

 

 

21

 

Expected return on plan assets

 

 

(12,442

)

 

 

(11,455

)

 

 

 

 

 

 

Amortization of actuarial (gain) loss

 

 

(1,165

)

 

 

 

 

 

16

 

 

 

12

 

Net periodic benefit cost

 

$

(3,320

)

 

$

(429

)

 

$

35

 

 

$

33

 

Other Postretirement Benefits [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Net Periodic Benefit Cost

The components of net periodic benefit cost for the Company’s postretirement benefit plan were as follows (in thousands):

 

 

 

Other Postretirement Benefits

 

 

 

Postretirement Welfare Plan

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Components of net periodic benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

Interest cost

 

$

5

 

 

$

5

 

 

$

10

 

 

$

11

 

Amortization of actuarial gain

 

 

(70

)

 

 

(86

)

 

 

(140

)

 

 

(172

)

Net periodic benefit cost

 

$

(65

)

 

$

(81

)

 

$

(130

)

 

$

(161

)