Pension And Postretirement Benefits (Tables)

9 Months Ended

Sep. 30, 2022

Defined Benefit Plan, Assumptions [Table Text Block]

As part of our 2022 remeasurements, we updated the weighted-average discount rates used to measure our pension and postretirement benefit obligations as summarized in the table below.


	Pension Benefits								Postretirement Benefits
	Dec. 31, 2021		Mar. 31, 2022		Jun. 30, 2022		Sep. 30, 2022		Dec. 31, 2021		Jul. 1, 2022
Weighted-average discount rate for determining benefit obligation	3.00	%	3.70	%	4.80	%	5.50	%	2.80	%	4.70	%
Discount rate in effect for determining service cost, for period beginning	3.20	%	3.80	%	4.90	%	5.50	%	3.10	%	4.90	%
Discount rate in effect for determining interest cost, for period beginning	2.30	%	3.40	%	4.40	%	5.30	%	2.10	%	4.20	%
Expected long-term rate of return on plan assets (annual rate)	6.75	%							4.50	%
Actual return on plan assets (YTD rate)			(5.20	%)	(11.30	%)	(15.40	%)			(12.20	%)

Schedule of Pension and Postretirement Benefit (Credits) Costs [Table Text Block]

The following table details qualified pension and postretirement benefit costs included in the accompanying consolidated statements of income. The service cost component of net periodic pension (credit) cost is recorded in operating expenses in the consolidated statements of income while the remaining components are recorded in “Other income (expense) – net.”


	Three months ended				Nine months ended
	September 30,				September 30,
	2022		2021		2022		2021
Pension cost:
Service cost – benefits earned during the period	$	141	$	241	$	488	$	723
Interest cost on projected benefit obligation	481		321		1,216		951
Expected return on assets	(740)		(890)		(2,410)		(2,617)
Amortization of prior service credit	(33)		(36)		(100)		(108)
Net pension (credit) cost before remeasurement	(151)		(364)		(806)		(1,051)
Actuarial (gain) loss	(216)		(374)		(2,573)		(3,021)
Net pension (credit) cost	$	(367)	$	(738)	$	(3,379)	$	(4,072)

Postretirement cost:
Service cost – benefits earned during the period	$	7	$	11	$	25	$	34
Interest cost on accumulated postretirement benefit obligation	75		53		201		158
Expected return on assets	(23)		(38)		(88)		(114)
Amortization of prior service credit	(697)		(634)		(1,861)		(1,903)
Net postretirement (credit) cost before remeasurement	(638)		(608)		(1,723)		(1,825)
Actuarial (gain) loss	(1,084)		—		(1,084)		—
Net postretirement (credit) cost	$	(1,722)	$	(608)	$	(2,807)	$	(1,825)

Combined net pension and postretirement (credit) cost	$	(2,089)	$	(1,346)	$	(6,186)	$	(5,897)