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Postretirement Benefits (Tables)
 6 Months Ended
Jun. 30, 2025
Retirement Benefits [Abstract]  
Schedule of Pension Plan Cost (Income)
Pension plan cost (income) includes the following components:
Three months ended June 30,Six months ended June 30,
(in thousands)2025202420252024
Service cost for benefits earned$8,862 $8,641 $17,724 $17,292 
Interest cost on benefit obligation14,676 13,163 29,351 26,308 
Expected return on plan assets(20,069)(20,198)(40,138)(40,396)
Prior service cost amortization422 397 844 786 
Net actuarial gain amortization(655)(1,734)(1,309)(3,485)
Settlement gain (1)
— (1,030)(477)(1,279)
Pension plan cost (income) (2)
$3,236 $(761)$5,995 $(774)
(1)Settlement accounting was required due to lump sum payments made under the SERP to former officers in 2025 and 2024.
(2)Pension plan cost (income) represents total plan cost (income) before reimbursements between Indemnity and the Exchange and its insurance subsidiaries. The components of pension plan cost (income) other than the service cost components are included in the line item "Other income" in the Consolidated Statements of Operations, net of reimbursements between Indemnity and the Exchange and its insurance subsidiaries.