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Retirement Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Plans Disclosures
The following tables set forth changes in the plans’ benefit obligations (projected benefit obligation for pension benefits and accumulated benefit obligation for postretirement benefits) and changes in the plans’ assets and the funded status of the pension plans and other postretirement benefit plan at December 31:

Schedule of Defined Benefit Plan Disclosures
Employees'
Pension
Plan
Select
Executive
Retirement
Plan
Postretirement
Benefit
Plans
Defined Benefit Plan Funded Status
December 31, 2022
Fair Value of Plan Assets$54,300 $— $— 
Benefit Obligation39,528 6,070 6,482 
Funded Status of Plan$14,772 $(6,070)$(6,482)
December 31, 2021
Fair Value of Plan Assets$68,925 $— $— 
Benefit Obligation45,659 6,455 7,994 
Funded Status of Plan$23,266 $(6,455)$(7,994)
Change in Benefit Obligation
Benefit Obligation, at January 1, 2022
$45,659 $6,455 $7,994 
Service Cost 1
1,877 835 90 
Interest Cost 2
1,439 225 248 
Plan Participants' Contributions— — 427 
Actuarial Gain(4,555)(983)(1,571)
Benefits Paid(4,892)(462)(706)
Benefit Obligation, at December 31, 2022
$39,528 $6,070 $6,482 
Benefit Obligation, at January 1, 2021
$44,877 $5,820 $9,028 
Service Cost 1
1,934 582 109 
Interest Cost 2
1,365 191 249 
Plan Participants' Contributions— — 432 
Actuarial Loss(347)332 (1,240)
Benefits Paid(2,170)(470)(584)
Benefit Obligation, at December 31, 2021
45,659 6,455 7,994 
Change in Fair Value of Plan Assets
Fair Value of Plan Assets, at January 1, 2022
$68,925 $— $— 
Actual Return on Plan Assets(9,733)— — 
Employer Contributions— 462 279 
Plan Participants' Contributions— — 427 
Benefits Paid(4,892)(462)(706)
Fair Value of Plan Assets, at December 31, 2022
$54,300 $— $— 
Fair Value of Plan Assets, at January 1, 2021
$59,837 $— $— 
Actual Return on Plan Assets11,258 — — 
Employer Contributions— 470 152 
Plan Participants' Contributions— — 432 
Benefits Paid(2,170)(470)(584)
Fair Value of Plan Assets, at December 31, 2021
$68,925 $— $— 
Accumulated Benefit Obligation at December 31, 2022
$39,506 $6,024 $6,482 
Employees'
Pension
Plan
Select
Executive
Retirement
Plan
Postretirement
Benefit
Plans
Amounts Recognized in the Consolidated Balance Sheets
December 31, 2022
Prepaid Pension Asset$14,772 $— — 
Accrued Benefit Liability— (6,070)(6,482)
Net Benefit (Expense) Recognized$14,772 $(6,070)$(6,482)
December 31, 2021
Prepaid Pension Asset$23,266 $— — 
Accrued Benefit Liability— (6,455)(7,994)
Net Benefit (Expense) Recognized$23,266 $(6,455)$(7,994)
Amounts Recognized in Other Comprehensive Income (Loss)
For the Year Ended December 31, 2022
Net Unamortized Loss (Gain) Arising During the Period$9,492 $(983)$(1,571)
Amortization of Net (Loss) Gain— (212)156 
Amortization of Prior Service Cost(78)(44)(106)
Settlement Cost$(577)$— $— 
  Total Other Comprehensive Income (Loss) for Pension and
     Other Postretirement Benefit Plans
$8,837 $(1,239)$(1,521)
For the Year Ended December 31, 2021
Net Unamortized (Gain) Loss Arising During the Period$(7,826)$332 $(1,239)
Amortization of Net (Loss) Gain— (178)87 
Amortization of Prior Service Cost(78)(48)(106)
  Total Other Comprehensive (Loss) Income for Pension and
     Other Postretirement Benefit Plans
$(7,904)$106 $(1,258)
For the Year Ended December 31, 2020
Net Unamortized (Gain) Loss Arising During the Period$(182)$368 $151 
Net Prior Service Cost Arising During the Period349 123 — 
Amortization of Net Loss(81)(146)— 
Amortization of Prior Service Cost(63)(42)(106)
  Total Other Comprehensive Income for Pension and
     Other Postretirement Benefit Plans
$23 $303 $45 
Accumulated Other Comprehensive Income
December 31, 2022
Net Actuarial Loss (Gain)$6,574 $1,453 $(2,597)
Prior Service Cost376 370 366 
Total Accumulated Other Comprehensive Income (Loss), Before Tax$6,950 $1,823 $(2,231)
December 31, 2021
Net Actuarial (Gain) Loss$(2,341)$2,651 $(1,182)
Prior Service Cost453 411 472 
Total Accumulated Other Comprehensive (Loss) Income, Before Tax$(1,888)$3,062 $(710)
Employees'
Pension
Plan
Select
Executive
Retirement
Plan
Postretirement
Benefit
Plans
Net Periodic Benefit Cost
For the Year Ended December 31, 2022
Service Cost 1
$1,877 $835 $90 
Interest Cost 2
1,439 225 248 
Expected Return on Plan Assets 2
(4,314)— — 
Amortization of Prior Service Cost 2
77 44 106 
Amortization of Net Loss (Gain) 2
— 212 (156)
Settlement Cost 2
577 — — 
Net Periodic Benefit (Income) Cost$(344)$1,316 $288 
For the Year Ended December 31, 2021
Service Cost 1
$1,934 $582 $109 
Interest Cost 2
1,365 191 249 
Expected Return on Plan Assets 2
(3,780)— — 
Amortization of Prior Service Cost 2
78 48 106 
Amortization of Net Loss 2
— 179 (88)
Net Periodic Benefit (Income) Cost$(403)$1,000 $376 
For the Year Ended December 31, 2020
Service Cost 1
$1,663 $408 $123 
Interest Cost 2
1,544 192 310 
Expected Return on Plan Assets 2
(3,608)— — 
Amortization of Prior Service Cost 2
63 42 106 
Amortization of Net Loss (Gain) 2
81 146 — 
Net Periodic Benefit (Income) Cost$(257)$788 $539 
Weighted-Average Assumptions Used in
  Calculating Benefit Obligation
December 31, 2022
Discount Rate5.59 %5.61 %5.62 %
Rate of Compensation Increase3.50 %3.50 %3.50 %
Interest Rate Credit for Determining
  Projected Cash Balance Account
3.99 %3.99 %
Interest Rates segments to Annuitize Cash
      Balance Account (Segment 1, Segment 2 and Segment 3,
      respectively)
5.09%, 5.60% and 5.41%
5.09%, 5.60% and 5.41%
Interest Rates to Convert Annuities to Actuarially
      Equivalent Lump Sum Amounts (Segment 1, Segment 2 and
      Segment 3, respectively)
5.09%,5.60% and 5.41%
5.09%, 5.60% and 5.41%
December 31, 2021
Discount Rate3.30 %3.29 %3.32 %
Rate of Compensation Increase3.50 %3.50 %3.50 %
Interest Rate Credit for Determining
  Projected Cash Balance Account
3.00 %3.00 %
Employees'
Pension
Plan
Select
Executive
Retirement
Plan
Postretirement
Benefit
Plans
Weighted-Average Assumptions Used in
  Calculating Net Periodic Benefit Cost
December 31, 2022
Discount Rate3.30 %5.61 %3.32 %
Expected Long-Term Return on Plan Assets6.50 %
Rate of Compensation Increase3.50 %3.50 %3.50 %
Interest Rate Credit for Determining
      Projected Cash Balance Account
3.00 %3.99 %
Interest Rates to Annuitize Cash
    Balance Account (Segment 1, Segment 2, and Segment 3,
    respectively)
5.09%, 5.60% and 5.41%
5.09%, 5.60% and 5.41%
Interest Rates to Convert Annuities to Actuarially
    Equivalent Lump Sum Amounts (Segment 1, Segment 2 and
    Segment 3, respectively)
5.09%, 5.60% and 5.41%
5.09%, 5.60% and 5.41%
December 31, 2021
Discount Rate3.14 %3.19 %3.17 %
Expected Long-Term Return on Plan Assets6.50 %
Rate of Compensation Increase3.50 %3.50 %3.50 %
Interest Rate Credit for Determining
      Projected Cash Balance Account
3.00 %3.00 %
Interest Rates to Annuitize Cash
    Balance Account (Segment 1, Segment 2, and Segment 3,
    respectively)
1.02%, 2.72% and 3.08%
1.02%, 2.72% and 3.08%
Interest Rates to Convert Annuities to Actuarially
    Equivalent Lump Sum Amounts (Segment 1, Segment 2 and
    Segment 3, respectively)
1.02%, 2.72% and 3.08%
1.02%, 2.72% and 3.08%
December 31, 2020
Discount Rate3.72 %3.75 %3.76 %
Expected Long-Term Return on Plan Assets6.50 %
Rate of Compensation Increase3.50 %3.50 %3.50 %
Interest Rate Credit for Determining
      Projected Cash Balance Account
3.00 %3.00 %
Footnotes:
1.Included in Salaries and Employee Benefits on the Consolidated Statements of Income
2.Included in Other Operating Expense on the Consolidated Statements of Income
Schedule of Defined Benefit Plan Disclosures
Information about Defined Benefit Plan Assets - Employees' Pension Plan
Fair Value Measurements Using:
Asset CategoryQuoted Prices
in Active Markets
for Identical Assets
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
TotalPercent of TotalTarget Allocation MinimumTarget Allocation Maximum
December 31, 2022
Cash$— $— $— $— — %— %15.0 %
Interest-Bearing Money Market Fund1,291 — — 1,291 2.4 %— %15.0 %
Arrow Common Stock1
6,411 — — 6,411 11.8 %— %10.0 %
North Country Funds - Equity 2
20,714 — — 20,714 38.2 %
Other Mutual Funds - Equity15,059 — — 15,059 27.7 %
Total Equity Funds35,773 — — 35,773 65.9 %55.0 %85.0 %
Other Mutual Funds - Fixed Income6,094 — — 6,094 11.2 %
Total Fixed Income Funds6,094 — — 6,094 11.2 %10.0 %30.0 %
Alternative ETF4,731 — — 4,731 8.7 %— %20.0 %
  Total$54,300 $— $— $54,300 100.0 %
December 31, 2021
Cash$— $— $— $— — %— %15.0 %
Interest-Bearing Money Market Fund2,439 — — 2,439 3.5 %— %15.0 %
Arrow Common Stock1
6,469 — — 6,469 9.4 %— %10.0 %
North Country Funds - Equity 2
29,490 — — 29,490 42.8 %
Other Mutual Funds - Equity16,761 — — 16,761 24.3 %
Total Equity Funds46,251 — — 46,251 67.1 %55.0 %85.0 %
North Country Funds - Fixed income 2
6,317 — — 6,317 9.2 %
Other Mutual Funds - Fixed Income2,675 — — 2,675 3.9 %
Total Fixed Income Funds8,992 — — 8,992 13.1 %10.0 %30.0 %
Alternative ETF4,774 — — 4,774 6.9 %— %20.0 %
Total$68,925 $— $— $68,925 100.0 %

Footnotes:
1 Payment for the acquisition of Common Stock was under 10% of the total fair value of the employee's pension plan assets
at the time of acquisition.
2 The North Country Funds - Equity and the North Country Funds - Fixed Income are publicly traded mutual funds advised
by Arrow's subsidiary, North Country Investment Advisers, Inc. North Country Funds - Fixed Income was liquidated and
dissolved in 2022.
Schedule of Defined Benefit Plan Disclosures
Employees'
Pension
Plan
Select
Executive
Retirement
Plan
Postretirement
Benefit
Plans
Expected Future Benefit Payments
2023$3,192 $432 $616 
20243,469 675 629 
20253,215 656 637 
20262,778 628 665 
20273,299 630 680 
2028 - 203215,355 2,736 2,910 
Estimated Contributions During 2023
$— $432 $616 
Assumed Health Care Cost Trend Rates
December 31, 2022
Health Care Cost Trend
  Rate Assumed for Next Year
7.75 %
Rate to which the Cost Trend
  Rate is Assumed to Decline
  (the Ultimate Trend Rate)
4.04 %
Year that the Rate Reaches
   the Ultimate Trend Rate
2075
December 31, 2021
Health Care Cost Trend
  Rate Assumed for Next Year
7.00 %
Rate to which the Cost Trend
  Rate is Assumed to Decline
  (the Ultimate Trend Rate)
3.78 %
Year that the Rate Reaches
   the Ultimate Trend Rate
2075