Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Change in Postretirement Benefit Obligation

The change in the Company's postretirement benefit obligation is as follows:

	Year Ended December 31,
(In thousands)	2020		2019		2018
Change in Benefit Obligation
Benefit obligation at beginning of year	$	34,438	$	29,777	$	31,050
Service cost	1,493		1,533		1,776
Interest cost	974		1,283		1,172
Actuarial (gain) loss	(2,119)		3,279		(3,165)
Benefits paid	(2,042)		(1,434)		(1,056)
Benefit obligation at end of year	$	32,744	$	34,438	$	29,777
Change in Plan Assets
Fair value of plan assets at end of year	—		—		—
Funded status at end of year	$	(32,744)	$	(34,438)	$	(29,777)

Schedule of Amounts Recognized in Balance Sheet

Amounts recognized in the balance sheet consist of the following:

	December 31,
(In thousands)	2020		2019		2018
Current liabilities	$	2,031	$	1,725	$	1,865
Non-current liabilities	30,713		32,713		27,912
	$	32,744	$	34,438	$	29,777

Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss)

Amounts recognized in accumulated other comprehensive income (loss) consist of the following:

	December 31,
(In thousands)	2020		2019		2018
Net actuarial (gain) loss	$	(57)	$	2,025	$	(1,253)
Prior service cost	(3,078)		(3,787)		(4,497)
	$	(3,135)	$	(1,762)	$	(5,750)

Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income (Loss)

	Year Ended December 31,
(In thousands)	2020		2019		2018
Components of Net Periodic Postretirement Benefit Cost
Service cost	$	1,493	$	1,533	$	1,776
Interest cost	974		1,283		1,172
Amortization of prior service cost	(709)		(709)		(709)
Amortization of net loss	(36)		—		—
Net periodic postretirement cost	$	1,722	$	2,107	$	2,239
Other Changes in Benefit Obligations Recognized in Other Comprehensive Income (Loss)
Net (gain) loss	$	(2,118)	$	3,279	$	(3,165)
Amortization of prior service cost	709		709		709
Amortization of net loss	36		—		—
Total recognized in other comprehensive income	(1,373)		3,988		(2,456)
Total recognized in net periodic benefit cost (income) and other comprehensive income	$	349	$	6,095	$	(217)

Assumptions Used to Determine Projected Postretirement Benefit Obligations and Postretirement Costs

Assumptions used to determine projected postretirement benefit obligations and postretirement costs are as follows:

	December 31,
	2020		2019		2018
Discount rate(1)	2.65	%	3.50	%	4.45	%
Health care cost trend rate for medical benefits assumed for next year (pre-65)	6.75	%	7.00	%	7.25	%
Health care cost trend rate for medical benefits assumed for next year (post-65)	5.00	%	5.25	%	5.50	%
Ultimate trend rate (pre-65)	4.50	%	4.50	%	4.50	%
Ultimate trend rate (post-65)	4.50	%	4.50	%	4.50	%
Year that the rate reaches the ultimate trend rate (pre-65)	2030		2030		2030
Year that the rate reaches the ultimate trend rate (post-65)	2023		2023		2023

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(1)Represents the year end rates used to determine the projected benefit obligation. To compute postretirement cost in 2020, 2019 and 2018, respectively, the beginning of year discount rates of 3.50 percent, 4.45 percent and 3.85 percent were used.

Schedule of Estimated Benefit Payments

The following estimated benefit payments under the Company's postretirement plans, which reflect expected future service, are expected to be paid as follows:

(In thousands)
2021	$	2,058
2022	2,085
2023	1,984
2024	1,860
2025	1,789
Years 2026 - 2030	9,018