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Pension plans and other postretirement benefits (Tables)
9 Months Ended
Sep. 30, 2023
Retirement Benefits [Abstract]  
Net Periodic Defined Benefit Cost for Defined Benefit Plans

The Company provides defined benefit pension and other postretirement benefits (including health care and life insurance benefits) to qualified retired employees. Net periodic cost (benefit) for defined benefit plans consisted of the following:

 

 

Pension
Benefits

 

 

Other
Postretirement
Benefits

 

 

 

Three Months Ended September 30

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

2,837

 

 

$

4,423

 

 

$

400

 

 

$

689

 

Interest cost on projected benefit obligation

 

 

28,862

 

 

 

22,060

 

 

 

703

 

 

 

581

 

Expected return on plan assets

 

 

(50,315

)

 

 

(50,188

)

 

 

 

 

 

 

Amortization of prior service cost (credit)

 

 

52

 

 

 

129

 

 

 

(515

)

 

 

(693

)

Amortization of net actuarial loss (gain)

 

 

(537

)

 

 

4,974

 

 

 

(692

)

 

 

(370

)

Net periodic cost (benefit)

 

$

(19,101

)

 

$

(18,602

)

 

$

(104

)

 

$

207

 

 

 

 

Pension
Benefits

 

 

Other
Postretirement
Benefits

 

 

 

Nine Months Ended September 30

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

8,512

 

 

$

13,237

 

 

$

1,200

 

 

$

1,914

 

Interest cost on projected benefit obligation

 

 

86,585

 

 

 

60,407

 

 

 

2,109

 

 

 

1,607

 

Expected return on plan assets

 

 

(150,945

)

 

 

(137,421

)

 

 

 

 

 

 

Amortization of prior service cost (credit)

 

 

155

 

 

 

387

 

 

 

(1,545

)

 

 

(2,079

)

Amortization of net actuarial loss (gain)

 

 

(1,610

)

 

 

14,921

 

 

 

(2,076

)

 

 

(1,111

)

Net periodic cost (benefit)

 

$

(57,303

)

 

$

(48,469

)

 

$

(312

)

 

$

331