Pension and Postretirement Plans (Tables)

3 Months Ended

Mar. 31, 2021

Defined Benefit Pension Plan [Member]

Schedule of Net Benefit Costs

The total benefit arising from the Company’s defined benefit pension plans consists of the following components:

	Three Months Ended   March 31
(in thousands)	2021		2020
Service cost	$	5,602	$	5,783
Interest cost	6,654		8,169
Expected return on assets	(34,576)		(28,444)
Amortization of prior service cost	711		708
Recognized actuarial gain	(2,892)		—
Net Periodic Benefit	$	(24,501)	$	(13,784)

Schedule of Allocation of Plan Assets

The assets of the Company’s pension plans were allocated as follows:

	As of
	March 31, 2021		December 31, 2020
U.S. equities	61	%	58	%
Private investment fund	17	%	18	%
U.S. stock index fund	9	%	9	%
International equities	8	%	8	%
U.S. fixed income	5	%	7	%
	100	%	100	%

Supplemental Executive Retirement Plan (SERP) [Member]

Schedule of Net Benefit Costs

The total cost arising from the Company’s Supplemental Executive Retirement Plan (SERP) consists of the following components:

	Three Months Ended   March 31
(in thousands)	2021		2020
Service cost	$	255	$	238
Interest cost	736		919
Amortization of prior service cost	83		83
Recognized actuarial loss	1,482		1,317
Net Periodic Cost	$	2,556	$	2,557

Other Postretirement Benefit Plan, Defined Benefit [Member]

Schedule of Net Benefit Costs

Other Postretirement Plans. The total cost arising from the Company’s other postretirement plans consists of the following components:

	Three Months Ended   March 31
(in thousands)	2021		2020
Interest cost	$	36	$	62
Amortization of prior service credit	(2)		(120)
Recognized actuarial gain	(1,019)		(1,097)
Net Periodic Benefit	$	(985)	$	(1,155)