Benefit Plans

9 Months Ended

Sep. 30, 2023

Retirement Benefits [Abstract]

Benefit Plans

Benefit Plans

Tables 10.1 and 10.2 provide the components of net periodic benefit cost for our pension, supplemental executive retirement and other postretirement benefit plans for the three and nine months ended September 30, 2023 and 2022.

Components of net periodic benefit cost
Table	10.1
		Three Months Ended September 30,
		Pension and Supplemental Executive Retirement Plans				Other Postretirement Benefit Plans
(In thousands)		2023		2022		2023		2022
Company service cost		$	—	$	1,813	$	374	$	327
Interest cost		3,297		2,863		409		173
Expected return on plan assets		(3,426)		(4,907)		(2,059)		(2,625)
Amortization of:
Net actuarial losses (gains)		529		1,266		(38)		(776)
Prior service cost (credit)		87		(57)		465		123
Cost of settlements and curtailments		334		5,671		—		—
Net periodic benefit cost (benefit)		$	821	$	6,649	$	(849)	$	(2,778)
Components of net periodic benefit cost
Table	10.2
		Nine Months Ended September 30,
		Pension and Supplemental Executive Retirement Plans				Other Postretirement Benefit Plans
(In thousands)		2023		2022		2023		2022
Company service cost		$	—	$	5,439	$	1,122	$	981
Interest cost		10,278		8,588		1,225		521
Expected return on plan assets		(10,432)		(14,723)		(6,176)		(7,876)
Amortization of:
Net actuarial losses (gains)		1,656		3,798		(113)		(2,328)
Prior service cost (credit)		259		(163)		1,396		367
Cost of settlements and curtailments		9,181		5,671		—		—
Net periodic benefit cost (benefit)		$	10,942	$	8,610	$	(2,546)	$	(8,335)

Effective January 1, 2023, the defined benefit pension plan and supplemental executive retirement plan are frozen (no future benefits will be accrued for participants due to employment and no new participants will be added). Participants in these plans are fully vested in their benefits.