Pension Plans and Other Postretirement Benefits

6 Months Ended

Jun. 30, 2025

Retirement Benefits [Abstract]

Pension Plans and Other Postretirement Benefits

Pension Plans and Other Postretirement Benefits:

The components of pension and postretirement benefits cost (credit) for the three-month and six-month periods ended June 30, 2025 and 2024 were as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Pension Benefits Cost (Credit):
Service cost	$	1,447	$	1,563	$	2,844	$	3,129
Interest cost	8,454		8,140		16,793		16,285
Expected return on assets	(8,588)		(8,838)		(17,123)		(17,668)
Amortization of prior service benefit	20		19		39		39
Total net pension benefits cost	$	1,333	$	884	$	2,553	$	1,785
Postretirement Benefits Cost:
Service cost	$	5	$	11	$	10	$	23
Interest cost	470		361		941		721
Total net postretirement benefits cost	$	475	$	372	$	951	$	744
Total net pension and postretirement benefits cost	$	1,808	$	1,256	$	3,504	$	2,529

All components of net benefit cost, other than service cost, are included in Other (expenses) income, net on the consolidated statements of income (loss).

During the three-month and six-month periods ended June 30, 2025, the Company made contributions of $4.7 million and $9.9 million, respectively, to its qualified and nonqualified plans and the U.S. postretirement benefit plan. During the three-month and six-month periods ended June 30, 2024, the Company made contributions of $4.6 million and $9.4 million, respectively, to its qualified and nonqualified pension plans and the U.S. postretirement benefit plan.