Pension Plans (Tables)

12 Months Ended

Dec. 31, 2022

Defined Benefit Plan Disclosure [Line Items]

Funded Status and Accrued Pension Cost

The following table sets forth the funded status of the retirement plan at December 31 (amounts in thousands):

	2022		2021
CHANGE IN BENEFIT OBLIGATION:
Benefit obligation at beginning of year	$	76,680	$	86,748
Interest cost		2,253		1,715
Actuarial gain		(11,086)		(4,547)
Benefits paid		(6,925)		(7,236)
Benefit obligation at end of year		60,922		76,680
CHANGE IN PLAN ASSETS:
Fair value of plan assets at beginning of year		72,486		71,221
Actual return on plan assets		(13,292)		8,202
Employer contributions		—		299
Benefits paid		(6,925)		(7,236)
Fair value of plan assets at end of year		52,269		72,486
Funded status and accrued pension cost	$	(8,653)	$	(4,194)

Assumptions Used to Determine Benefit Obligations

The assumptions used to determine the benefit obligation at December 31 are as follows:

	2022		2021		2020
Discount rate	4.85	%	2.42	%	1.95	%
Rate of compensation increase	N/A		N/A		N/A

The weighted-average assumptions used to determine the net periodic pension expense for years ended December 31 are as follows:

	2022		2021		2020
Discount rate	3.33	%	2.13	%	2.40	%
Rate of compensation increase	N/A		N/A		N/A
Expected long-term rate of return on plan assets	6.00	%	6.00	%	6.50	%

Allocation of Defined Benefit Pension Plans Assets

The allocation of the defined benefit pension plan’s assets at December 31 is as follows (amounts in thousands):

Asset Class	2022		2021
Cash	$	1,015	$	935
Mutual funds		51,254		71,551
Total	$	52,269	$	72,486

Pension Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Net Periodic Pension and Postretirement Benefit (Income) Expense

Net periodic pension (income) expense reflected in other gains and (losses), net in the accompanying consolidated statements of operations included the following components for the years ended December 31 (amounts in thousands):

	2022		2021		2020
Interest cost	$	2,253	$	1,715	$	1,969
Expected return on plan assets		(3,701)		(4,253)		(4,101)
Amortization of net actuarial loss		667		689		1,004
Net settlement loss		1,894		1,379		1,740
Total net periodic pension (income) expense	$	1,113	$	(470)	$	612

Expected Future Benefit Payments

The Company does not expect to be required to contribute to its defined benefit pension plan in 2023. Based on the Company’s assumptions discussed above, the Company expects to make the following estimated future benefit payments under the plan during the years ending December 31 (amounts in thousands):

2023	$	7,242
2024		4,740
2025		6,586
2026		5,323
2027		6,174
2028 - 2032		24,491