Schedule of the amounts recognized in the consolidated balance sheets

The following table provides the amounts recognized in the consolidated balance sheets as of December 31, 2024 and 2023 (in thousands):


	Pension Benefits
	2024			2023
Non-current assets:
Accrued benefit asset	$	19,879		$	28,399
Pension liability
Accrued current benefit liability		(1,556	)		(867	)
Accrued benefit liability		(1,993	)		—
Accumulated other comprehensive loss		19,489			8,031
Net amount recognized	$	35,819		$	35,563

Schedule of net periodic pension cost

Net periodic pension cost for the plans consisted of the following in 2024, 2023, and 2022 (in thousands):


	Pension Benefits
	2024			2023			2022
Service cost	$	3,659		$	3,794		$	6,262
Interest cost		8,302			7,974			5,476
Expected return on plan assets		(12,544	)		(12,428	)		(13,452	)
Amortization of prior service cost		265			500			511
Amortization of net loss (gain)		61			(188	)		2,049
Net periodic pension (benefit) cost	$	(257	)	$	(348	)	$	846

Schedule of fair values of plan by asset category

The fair values by asset category in each pension plan, along with their hierarchy levels, are as follows as of December 31, 2024 (in thousands):


	Hecla plans								Lucky Friday
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Investments measured at fair value
Interest-bearing cash	$	2,699	$	—	$	—	$	2,699	$	123	$	—	$	—	$	123
Common stock		18,874		—		—		18,874		2,932		—		—		2,932
Mutual funds		87,823		—		—		87,823		13,016		—		—		13,016
Total investments in the fair value hierarchy		109,396		—		—		109,396		16,071		—		—		16,071
Investments measured at net asset value
Real estate funds		—		—		—		16,318		—		—		—		3,698
Common collective funds		—		—		—		31,688		—		—		—		7,163
Total investments measured at net asset value		—		—		—		48,006		—		—		—		10,861
Total fair value	$	109,396	$	—	$	—	$	157,402	$	16,071	$	—	$	—	$	26,932


	Hecla plans								Lucky Friday
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Investments measured at fair value
Interest-bearing cash	$	525	$	—	$	—	$	525	$	117	$	—	$	—	$	117
Common stock		19,933		—		—		19,933		2,872		—		—		2,872
Mutual funds		83,504		—		—		83,504		12,792		—		—		12,792
Total investments in the fair value hierarchy		103,962		—		—		103,962		15,781		—		—		15,781
Investments measured at net asset value
Real estate funds		—		—		—		18,029		—		—		—		4,173
Common collective funds		—		—		—		28,386		—		—		—		6,627
Total investments measured at net asset value		—		—		—		46,415		—		—		—		10,800
Total fair value	$	103,962	$	—	$	—	$	150,377	$	15,781	$	—	$	—	$	26,581

Schedule of indication of whether pension plans had accumulated benefit obligations (ABO) in excess of plan assets, or plan assets exceeded ABO

The following table indicates whether our pension plans had accumulated benefit obligations (“ABO”) in excess of plan assets, or plan assets exceeded ABO. During 2024 two of our plans had plan assets in excess of the ABO and one did not. During 2023 all three of our plans assets exceeded the ABO (in thousands).


	2024		2024		2023
	Plan Assets Exceed ABO		ABO Exceed Plan Assets		Plan Assets Exceed ABO
Projected benefit obligation	$	48,251	$	119,753	$	149,426
Accumulated benefit obligation	$	47,262	$	116,148	$	146,336
Fair value of plan assets	$	66,573	$	117,761	$	176,958