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Pension and Other Postretirement Plans (Tables)
3 Months Ended
Mar. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Net Periodic Benefit Costs

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

 

 

 

Three Months Ended

 

 

 

March 31,

 

(In thousands)

 

2024

 

 

2023

 

Pension Benefits

 

 

 

 

 

 

Components of net periodic benefit cost:

 

 

 

 

 

 

Service cost

 

$

759

 

 

$

752

 

Interest cost

 

 

4,244

 

 

 

4,322

 

Expected return on assets

 

 

(7,151

)

 

 

(6,322

)

Amortization of:

 

 

 

 

 

 

Actuarial loss

 

 

116

 

 

 

388

 

Net periodic benefit (credit) cost

 

$

(2,032

)

 

$

(860

)

 

 

 

 

 

 

 

Postretirement Benefits

 

 

 

 

 

 

Components of net periodic benefit cost:

 

 

 

 

 

 

Service cost

 

$

211

 

 

$

200

 

Interest cost

 

 

797

 

 

 

819

 

Expected return on assets

 

 

(691

)

 

 

(651

)

Amortization of:

 

 

 

 

 

 

Transition obligation

 

 

1

 

 

 

1

 

Prior service credit

 

 

(4

)

 

 

 

Actuarial (gain) loss

 

 

(77

)

 

 

(30

)

Net periodic benefit (credit) cost

 

$

237

 

 

$

339