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Retirement plans (Tables)
 12 Months Ended
Dec. 31, 2023
Retirement Benefits [Abstract]  
Schedule of Pension Costs
Pension costs, which primarily include costs for our qualified TRP and non-qualified SERP, are presented in the following table (in thousands):
202320222021
Service cost-benefits earned during the period$— $— $2 
Interest cost on benefit obligation24,183 16,830 15,887 
Expected return on plan assets(20,940)(19,502)(34,679)
Amortization of prior service cost90 90 90 
Amortization of actuarial loss6,059 4,583 4,952 
Pension payment timing related charge— 300 946 
Expense for (income from) company-sponsored retirement plans$9,392 $2,301 $(12,802)
Schedule of Changes in Projected Benefit Obligations
The following table provides a reconciliation of pension benefit obligations (on a projected benefit obligation measurement basis), plan assets and funded status of company-sponsored retirement plans, along with the related amounts that are recognized in the Consolidated Balance Sheets (in thousands).
Dec. 31,
20232022
Change in benefit obligations
Benefit obligations as of beginning of year$464,309 $605,834 
Interest cost24,183 16,830 
Actuarial loss (gain)
9,443 (119,462)
Benefits paid(35,469)(36,943)
Settlements (1)
— (1,950)
Benefit obligations as of end of year$462,466 $464,309 
Change in plan assets
Fair value of plan assets as of beginning of year$385,005 $541,758 
Actual gains (losses) experienced by plan assets
32,739 (123,648)
Employer contributions3,833 5,788 
Benefits paid(35,469)(36,943)
Settlements (1)
— (1,950)
Fair value of plan assets as of end of year$386,108 $385,005 
Funded status as of end of year$(76,358)$(79,304)
Amounts recognized in Consolidated Balance Sheets
Accrued liabilities other—current$(5,875)$(5,620)
Pension liabilities—non-current$(70,483)$(73,684)
(1) Settlements represent lump sum benefit payments to certain SERP plan participants. When aggregate lump sums exceed the settlement threshold, pension payment timing related charges are incurred, and the lump sum payments prompting the charge are shown on a separate line from other benefit payments.
Schedule of Net Funded Status
The funded status (on a projected benefit obligation basis) of our principal retirement plans as of December 31, 2023, is as follows (in thousands):
Fair Value of Plan AssetsBenefit ObligationFunded Status
TRP$386,108 $415,041 $(28,933)
SERP (1)
— 47,128 (47,128)
All other— 297 (297)
Total$386,108 $462,466 $(76,358)
(1) The SERP is an unfunded, unsecured liability.
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
The following table presents information for our retirement plans for which accumulated benefit obligation exceed assets (in thousands):
Dec. 31,
20232022
Accumulated benefit obligation$462,466 $464,309 
Fair value of plan assets$386,108 $385,005 
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets
The following table presents information for our retirement plans for which projected benefit obligations exceed assets (in thousands):
Dec. 31,
20232022
Projected benefit obligation$462,466 $464,309 
Fair value of plan assets$386,108 $385,005 
Schedule of Net Periodic Benefit Cost Not Yet Recognized
The following table summarizes the pre-tax amounts recorded in accumulated other comprehensive loss that have not yet been recognized as a component of pension expense (in thousands):
Dec. 31,
20232022
Net actuarial losses$(159,086)$(167,502)
Prior service cost(1,436)(1,526)
Amounts in accumulated other comprehensive loss$(160,522)$(169,028)
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss), pre-tax, consist of the following (in thousands):
202320222021
Current year net actuarial (loss) gain$2,356 $(23,688)$4,463 
Amortization of actuarial loss6,059 4,583 4,952 
Amortization of previously deferred prior service costs90 90 90 
Pension payment timing related charges— 300 946 
Total$8,505 $(18,715)$10,451 
Schedule of Assumptions Used
Pension costs: The following assumptions were used to determine net pension costs:
202320222021
Discount rate5.50%2.89%2.54%
Expected return on plan assets5.75%3.75%6.50%
Schedule of Assumptions Used in Calculating Pension Benefit Obligations Table The following assumptions were used to determine the year-end benefit obligations:
Dec. 31,
20232022
Discount rate5.20%5.50%
Schedule of Allocation of Plan Assets The asset allocation for the TRP as of the end of 2023 and 2022, and target allocations for 2024, by asset category, are presented in the table below: 
Target AllocationActual allocation of Plan Assets
202420232022
Equity securities14 %17 %14 %
Debt securities86 %83 %86 %
Total100 %100 %100 %
Schedule of Expected Benefit Payments We estimate we will make the following benefit payments from either retirement plan assets or directly from our funds (in thousands):
2024$50,756 
202540,329 
202639,644 
202739,071 
202838,620 
2029 through 2033$173,387