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Pension and Other Postretirement Plans (Tables)
9 Months Ended
Sep. 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

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

(In thousands)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Pension Benefits

 

 

 

 

 

 

 

 

 

 

 

 

Components of net periodic benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

723

 

 

$

1,266

 

 

$

2,169

 

 

$

3,798

 

Interest cost

 

 

4,330

 

 

 

2,791

 

 

 

12,989

 

 

 

8,371

 

Expected return on assets

 

 

(6,312

)

 

 

(7,848

)

 

 

(18,936

)

 

 

(23,543

)

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

Prior service credit

 

 

 

 

 

(5

)

 

 

 

 

 

(15

)

Actuarial loss

 

 

440

 

 

 

604

 

 

 

1,320

 

 

 

1,812

 

Net periodic benefit (credit) cost

 

$

(819

)

 

$

(3,192

)

 

$

(2,458

)

 

$

(9,577

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Postretirement Benefits

 

 

 

 

 

 

 

 

 

 

 

 

Components of net periodic benefit cost:

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

195

 

 

$

323

 

 

$

585

 

 

$

970

 

Interest cost

 

 

827

 

 

 

485

 

 

 

2,481

 

 

 

1,455

 

Expected return on assets

 

 

(649

)

 

 

(842

)

 

 

(1,946

)

 

 

(2,524

)

Amortization of:

 

 

 

 

 

 

 

 

 

 

 

 

Transition obligation

 

 

1

 

 

 

1

 

 

 

2

 

 

 

2

 

Prior service credit

 

 

 

 

 

(74

)

 

 

 

 

 

(223

)

Actuarial (gain) loss

 

 

(48

)

 

 

37

 

 

 

(143

)

 

 

109

 

Net periodic benefit (credit) cost

 

$

326

 

 

$

(70

)

 

$

979

 

 

$

(211

)