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Employee Benefit Plans and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of obligation and funded status
The changes in the benefit obligation, fair value of plan assets and the funded status of the Company’s pension and SERPA plans and the postretirement healthcare plans as of the Company’s measurement dates of December 31, were as follows (in thousands):
 Pension and SERPA BenefitsPostretirement Healthcare Benefits
 2024202320242023
Change in benefit obligation:
Benefit obligation, beginning of period$1,568,277 $1,553,912 $206,506 $210,811 
Service cost4,698 5,174 2,892 3,184 
 Pension and SERPA BenefitsPostretirement Healthcare Benefits
 2024202320242023
Interest cost80,478 81,911 10,775 11,089 
Actuarial loss / (gains)
(41,748)35,608 (15,269)(18,350)
Plan participant contributions— — 564 1,790 
Special early retirement benefits1,722 — — — 
Plan amendments
5,601 — — 12,959 
Benefits paid(112,281)(106,493)(13,721)(14,977)
Settlements
— (1,835)— — 
Benefit obligation, end of period1,506,747 1,568,277 191,747 206,506 
Change in plan assets:
Fair value of plan assets, beginning of period1,901,824 1,809,543 225,167 205,803 
Return on plan assets49,572 198,212 28,067 29,211 
Plan participant contributions— — 564 1,790 
Benefits paid(111,617)(105,931)(9,308)(11,637)
Fair value of plan assets, end of period1,839,779 1,901,824 244,490 225,167 
Funded status of the plan$333,032 $333,547 $52,743 $18,661 
Funded status as recognized on the Consolidated balance sheets:
Pension and postretirement assets$342,569 $343,619 $98,256 $69,489 
Accrued liabilities(1,176)(1,129)— — 
Pension and postretirement liabilities(8,361)(8,943)(45,513)(50,828)
$333,032 $333,547 $52,743 $18,661 
Amounts included in Accumulated other comprehensive loss, net of tax:
Prior service credits$6,597 $2,886 $8,087 $8,542 
Actuarial losses (gains)310,065 277,825 (75,603)(59,631)
$316,662 $280,711 $(67,516)$(51,089)
Schedule of amounts recognized in balance sheet
The changes in the benefit obligation, fair value of plan assets and the funded status of the Company’s pension and SERPA plans and the postretirement healthcare plans as of the Company’s measurement dates of December 31, were as follows (in thousands):
 Pension and SERPA BenefitsPostretirement Healthcare Benefits
 2024202320242023
Change in benefit obligation:
Benefit obligation, beginning of period$1,568,277 $1,553,912 $206,506 $210,811 
Service cost4,698 5,174 2,892 3,184 
 Pension and SERPA BenefitsPostretirement Healthcare Benefits
 2024202320242023
Interest cost80,478 81,911 10,775 11,089 
Actuarial loss / (gains)
(41,748)35,608 (15,269)(18,350)
Plan participant contributions— — 564 1,790 
Special early retirement benefits1,722 — — — 
Plan amendments
5,601 — — 12,959 
Benefits paid(112,281)(106,493)(13,721)(14,977)
Settlements
— (1,835)— — 
Benefit obligation, end of period1,506,747 1,568,277 191,747 206,506 
Change in plan assets:
Fair value of plan assets, beginning of period1,901,824 1,809,543 225,167 205,803 
Return on plan assets49,572 198,212 28,067 29,211 
Plan participant contributions— — 564 1,790 
Benefits paid(111,617)(105,931)(9,308)(11,637)
Fair value of plan assets, end of period1,839,779 1,901,824 244,490 225,167 
Funded status of the plan$333,032 $333,547 $52,743 $18,661 
Funded status as recognized on the Consolidated balance sheets:
Pension and postretirement assets$342,569 $343,619 $98,256 $69,489 
Accrued liabilities(1,176)(1,129)— — 
Pension and postretirement liabilities(8,361)(8,943)(45,513)(50,828)
$333,032 $333,547 $52,743 $18,661 
Amounts included in Accumulated other comprehensive loss, net of tax:
Prior service credits$6,597 $2,886 $8,087 $8,542 
Actuarial losses (gains)310,065 277,825 (75,603)(59,631)
$316,662 $280,711 $(67,516)$(51,089)
Schedule of PBO in excess of fair value of plan assets
The funded status of the qualified pension plan and the SERPA plans are combined above. The SERPA plans had projected benefit obligations (PBO) and accumulated benefit obligations (ABO) in excess of the fair value of plan assets at December 31, as presented below (in thousands):
20242023
Plans with PBO in excess of fair value of plan assets:
PBO$9,537 $10,072 
Fair value of plan assets$— $— 
Plans with ABO in excess of fair value of plan assets:
ABO$9,516 $10,035 
Fair value of plan assets$— $— 
Schedule of ABO in excess of fair value of plan assets
The funded status of the qualified pension plan and the SERPA plans are combined above. The SERPA plans had projected benefit obligations (PBO) and accumulated benefit obligations (ABO) in excess of the fair value of plan assets at December 31, as presented below (in thousands):
20242023
Plans with PBO in excess of fair value of plan assets:
PBO$9,537 $10,072 
Fair value of plan assets$— $— 
Plans with ABO in excess of fair value of plan assets:
ABO$9,516 $10,035 
Fair value of plan assets$— $— 
Schedule of components of net periodic benefit costs Components of net periodic benefit costs for the Company's defined benefit plans for the years ended December 31, were as follows (in thousands):
 Pension and SERPA BenefitsPostretirement Healthcare Benefits
 202420232022202420232022
Service cost$4,698 $5,174 $19,052 $2,892 $3,184 $4,642 
Interest cost80,478 81,911 61,890 10,775 11,089 7,617 
Expected return on plan assets(132,574)(146,076)(125,904)(17,696)(17,124)(15,237)
Amortization of unrecognized:
Prior service credit751 751 (1,312)595 (665)(2,323)
Net loss(650)(722)31,912 (4,999)(4,388)488 
Settlement (gain) loss1,722 (759)(1,471)— — (1,244)
Net periodic benefit cost$(45,575)$(59,721)$(15,833)$(8,433)$(7,904)$(6,057)
Schedule of assumptions used to determine net periodic benefit cost
Weighted-average assumptions used to determine benefit obligations and net periodic benefit cost at December 31, were as follows:
Pension and SERPA BenefitsPostretirement Healthcare Benefits
 202420232022202420232022
Assumptions for benefit obligations:
Discount rate5.65 %5.31 %5.45 %5.63 %5.36 %5.42 %
Rate of compensation increase4.00 %4.00 %4.00 %n/an/an/a
Assumptions for net periodic benefit cost:
Discount rate5.31 %5.45 %2.89 %5.36 %5.42 %2.72 %
Expected return on plan assets6.20 %6.80 %5.60 %7.46 %7.48 %6.77 %
Rate of compensation increase4.00 %4.00 %3.49 %n/an/an/a
Schedule of allocation of plan assets The fair values of the Company’s pension plan assets at December 31, 2024 were as follows (in thousands):
BalanceLevel 1Level 2
Cash and cash equivalents$26,111 $26,111 $— 
Equity holdings:
U.S. companies190,113 190,058 55 
Foreign companies32 32 — 
Pooled equity funds237,473 135,631 101,842 
427,618 325,721 101,897 
Fixed-income holdings:
U.S. Treasuries120,028 120,028 — 
Federal agencies11,271 — 11,271 
Corporate bonds694,002 — 694,002 
Pooled fixed income funds463,769 — 463,769 
Foreign bonds86,071 — 86,071 
Municipal bonds10,020 — 10,020 
1,385,161 120,028 1,265,133 
Plan assets subject to fair value leveling1,838,890 $471,860 $1,367,030 
Plan assets measured at net asset value:
Private equity investments334 
Real estate investments555 
889 
$1,839,779 
The fair values of the Company’s postretirement healthcare plan assets at December 31, 2024 were as follows (in thousands): 
BalanceLevel 1Level 2
Cash and cash equivalents$1,824 $1,824 $— 
Equity holdings:
U.S. companies88,083 88,083 — 
Foreign companies27,430 27,430 — 
Pooled equity funds53,987 40,785 13,202 
169,500 156,298 13,202 
Fixed-income holdings:
U.S. Treasuries415 415 — 
Federal agencies39 — 39 
Corporate bonds2,388 — 2,388 
Pooled fixed income funds55,119 14,720 40,399 
Foreign bonds296 — 296 
Municipal bonds34 — 34 
58,291 15,135 43,156 
Plan assets subject to fair value leveling229,615 $173,257 $56,358 
Plan assets measured at net asset value:
Limited partnership interests
$14,537 
Real estate investments338 
$244,490 
The fair values of the Company’s pension plan assets at December 31, 2023 were as follows (in thousands):
BalanceLevel 1Level 2
Cash and cash equivalents$27,730 $— $27,730 
Equity holdings:
U.S. companies346,895 346,844 51 
Foreign companies22,425 22,425 — 
Pooled equity funds124,853 124,853 — 
Other21 21 — 
494,194 494,143 51 
Fixed-income holdings:
U.S. Treasuries110,767 110,767 — 
Federal agencies11,028 — 11,028 
Corporate bonds708,790 — 708,790 
Pooled fixed income funds442,409 55,487 386,922 
Foreign bonds93,034 462 92,572 
Municipal bonds11,486 — 11,486 
1,377,514 166,716 1,210,798 
Plan assets subject to fair value leveling1,899,438 $660,859 $1,238,579 
Plan assets measured at net asset value:
Private equity investments794 
Real estate investments1,592 
2,386 
$1,901,824 
The fair values of the Company’s postretirement healthcare plan assets at December 31, 2023 were as follows (in thousands):
BalanceLevel 1Level 2
Cash and cash equivalents$2,391 $— $2,391 
Equity holdings:
U.S. companies113,135 113,135 — 
Foreign companies21,034 21,034 — 
Pooled equity funds26,355 26,355 — 
Other5 5 — 
160,529 160,529 — 
Fixed-income holdings:
U.S. Treasuries359 359 — 
Federal agencies36 — 36 
Corporate bonds2,286 — 2,286 
Pooled fixed income funds44,512 43,248 1,264 
Foreign bonds300 2 298 
Municipal bonds37 — 37 
47,530 43,609 3,921 
Plan assets subject to fair value leveling210,450 $204,138 $6,312 
Plan assets measured at net asset value:
Limited partnership interests$13,773 
Real estate investments944 
$225,167 
Schedule of weighted average health care cost trend rate
The weighted-average healthcare cost trend rates used in determining the accumulated postretirement benefit obligation of the healthcare plans were as follows:
20242023
Healthcare cost trend rate for next year6.89 %7.50 %
Rate to which the cost trend rate is assumed to decline (the ultimate rate)5.00 %5.00 %
Year that the rate reaches the ultimate trend rate20332032
Schedule of expected benefit payments for next five years and thereafter
The Company's future expected benefit payments as of December 31, 2024 were as follows (in thousands):
Pension BenefitsSERPA BenefitsPostretirement Healthcare Benefits
2025$118,693 $1,209 $17,228 
2026$119,276 $1,129 $17,745 
2027$119,461 $999 $18,205 
2028$117,977 $892 $18,512 
2029$117,909 $809 $18,712 
2030-2034$579,375 $3,533 $90,946