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Pension and Other Postretirement Plans (Tables)
6 Months Ended
Jun. 30, 2023
Retirement Benefits [Abstract]  
Schedule of Net Periodic Benefit Costs

The following table presents the components of net periodic benefit costs recognized.

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(In thousands)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Pension Benefits

 

 

 

 

 

 

 

 

 

 

 

 

Components of net periodic benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

694

 

 

$

1,195

 

 

$

1,446

 

 

$

2,532

 

Interest cost

 

 

4,337

 

 

 

2,784

 

 

 

8,659

 

 

 

5,580

 

Expected return on assets

 

 

(6,302

)

 

 

(7,844

)

 

 

(12,624

)

 

 

(15,695

)

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

Prior service credit

 

 

 

 

 

(5

)

 

 

 

 

 

(10

)

Actuarial loss

 

 

492

 

 

 

484

 

 

 

880

 

 

 

1,208

 

Net periodic benefit (credit) cost

 

$

(779

)

 

$

(3,386

)

 

$

(1,639

)

 

$

(6,385

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Postretirement Benefits

 

 

 

 

 

 

 

 

 

 

 

 

Components of net periodic benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

190

 

 

$

314

 

 

$

390

 

 

$

647

 

Interest cost

 

 

835

 

 

 

479

 

 

 

1,654

 

 

 

970

 

Expected return on assets

 

 

(646

)

 

 

(839

)

 

 

(1,297

)

 

 

(1,682

)

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

Transition obligation

 

 

 

 

 

 

 

 

1

 

 

 

1

 

Prior service credit

 

 

 

 

 

(75

)

 

 

 

 

 

(149

)

Actuarial (gain) loss

 

 

(65

)

 

 

24

 

 

 

(95

)

 

 

72

 

Net periodic benefit (credit) cost

 

$

314

 

 

$

(97

)

 

$

653

 

 

$

(141

)