Pension Plans And Other Post-Retirement Benefits	12 Months Ended
	Dec. 31, 2021
Pension Plans And Other Post-Retirement Benefits [Abstract]
Pension Plans And Other Post-Retirement Benefits	Note 16 – Pension Plans and Other Post-retirement Benefits The Company maintains a qualified, defined benefit pension plan that covers its full-time employees who were hired prior to the date their respective pension plan was closed to new participants. Retirement benefits under the plan are generally based on the employee’s total years of service and compensation during the last five years of employment. The Company’s policy is to fund the plan annually at a level which is deductible for income tax purposes and which provides assets sufficient to meet its pension obligations over time. To offset some limitations imposed by the Internal Revenue Code with respect to payments under qualified plans, the Company has a non-qualified Supplemental Pension Benefit Plan for Salaried Employees in order to prevent some employees from being penalized by these limitations, and to provide certain retirement benefits based on employee’s years of service and compensation. The net pension costs and obligations of the qualified and non-qualified plans are included in the tables which follow. Employees hired after their respective pension plan was closed, may participate in a defined contribution plan that provides a Company matching contribution on amounts contributed by participants and an annual profit-sharing contribution based upon a percentage of the eligible participants’ compensation. On March 16, 2020, the Company completed the Peoples Gas Acquisition and assumed the pension and other postretirement benefit plans for its employees. On April 1, 2020, the Company merged the pension plans acquired in the Peoples Gas Acquisition into the Company’s Pension Plan. Effective July 1, 2015, the Company added a permanent lump sum option to the form of benefit payments offered to participants of the qualified defined benefit pension plan upon retirement or termination. The plan paid $11,069 and $10,889 to participants who elected this option during 2021 and 2020, respectively. In addition to providing pension benefits, the Company offers post-retirement benefits other than pensions to employees retiring with a minimum level of service and hired before their respective plan closed to new participants. These benefits include continuation of medical and prescription drug benefits, or a cash contribution toward such benefits, for eligible retirees and life insurance benefits for eligible retirees. The Company funds these benefits through various trust accounts. The benefits of retired officers and other eligible retirees are paid by the Company and not from plan assets due to limitations imposed by the Internal Revenue Code. ‎ The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid in the years indicated: Pension Benefits Other Post-retirement BenefitsYears: 2022$ 31,670 $ 5,5142023 32,165 5,7032024 31,666 5,6442025 32,154 5,7862026 31,513 5,9612027-2031 149,483 31,739 The changes in the benefit obligation and fair value of plan assets, the funded status of the plans and the assumptions used in the measurement of the company’s benefit obligation are as follows: Pension Benefits Other Post-retirement Benefits 2021 2020 2021 2020Change in benefit obligation: Benefit obligation at January 1,$ 486,219$ 310,381 $ 125,375$ 79,542Service cost 3,503 3,775 2,793 2,276Interest cost 13,018 13,710 3,358 3,687Actuarial (gain) loss (17,378) 37,632 (12,001) 5,181Plan participants' contributions - - 36 795Benefits paid (32,415) (28,150) (4,910) (6,287)Acquisitions - 148,871   40,181Benefit obligation at December 31, 452,947 486,219 114,651 125,375 Change in plan assets: Fair value of plan assets at January 1, 426,801 266,461 98,995 54,011Actual return on plan assets 23,901 54,732 12,484 11,910Employer contributions 14,834 16,274 598 5,034Participants' contributions - - 36 795Benefits paid (32,415) (28,150) (4,805) (6,199)Acquisitions - 117,484 - 33,444Fair value of plan assets at December 31, 433,121 426,801 107,308 98,995 Funded status of plan: Net liability recognized at December 31,$ 19,826$ 59,418 $ 7,343$ 26,380 The following table provides the net liability recognized on the consolidated balance sheets at December 31,: Pension Benefits Other Post-retirement Benefits 2021 2020 20212020Non-current asset$ 2,474$ - $ 23,504$ 11,446Current liability (1,144) (551) (1,777) (895)Noncurrent liability (21,156) (58,867) (29,070) (36,931)Net liability recognized$ (19,826)$ (59,418) $ (7,343)$ (26,380) The following table provides selected information about plans with accumulated benefit obligation and projected benefit obligation in excess of plan assets: December 31, 2021 December 31, 2020 Pension Benefits Other ‎Post-retirement Benefits Pension Benefits Other ‎Post-retirement BenefitsSelected information for plans with projected benefit obligation in excess of plan assets: Projected benefit obligation$ 23,601 $N/A $ 486,219 $N/AFair value of plan assets - N/A 426,801 N/A Selected information for plans with accumulated benefit obligation in excess of plan assets: Accumulated benefit obligation$ 17,129 $ 42,463 $ 458,658 $ 96,342Fair value of plan assets - 11,616 426,801 63,567 The following table provides the components of net periodic benefit costs for the years ended December 31,: Pension Benefits Other Post-retirement Benefits 2021 2020 2019 2021 2020 2019Service cost$ 3,503 $ 3,775 $ 2,718  $ 2,793 $ 2,276 $ 819 Interest cost 13,018  13,710  11,817  3,358  3,687  2,999 Expected return on plan assets (23,165) (21,249) (15,272) (4,155) (4,079) (2,482)Amortization of prior service cost (credit) 559  591  620  (432) (464) (464)Amortization of actuarial loss 2,907  7,967  7,927  219  622  664 Net periodic benefit cost (credit)$ (3,178)$ 4,794 $ 7,810  $ 1,783 $ 2,042 $ 1,536  The Company records the underfunded/overfunded status of its pension and other post-retirement benefit plans on its consolidated balance sheets and records a regulatory asset/liability for these costs that would otherwise be charged to stockholders’ equity, as the Company anticipates recoverability of the costs through customer rates to be probable. Changes in the plans’ funded status will affect the assets and liabilities recorded on the balance sheet. Due to the Company’s regulatory treatment, the recognition of the funded status is recorded as a regulatory asset pursuant to the FASB’s accounting guidance for regulated operations. The following table provides the amounts recognized in regulatory assets and regulatory liabilities that have not been recognized as components of net periodic benefit cost as of December 31: Pension Benefits Other Post-retirement Benefits 2021 2020 20212020Net actuarial loss (gain)$ 64,247$ 83,967 $ (16,323)$ 7,224Prior service cost (credit) 965 1,524 - (432)Total recognized in regulatory assets (liabilities)$ 65,212$ 85,491 $ (16,323)$ 6,792 Accounting for pensions and other post-retirement benefits requires an extensive use of assumptions about the discount rate, expected return on plan assets, the rate of future compensation increases received by the Company’s employees, mortality, turnover and medical costs. Each assumption is reviewed annually with assistance from the Company’s actuarial consultant who provides guidance in establishing the assumptions. The assumptions are selected to represent the average expected experience over time and may differ in any one year from actual experience due to changes in capital markets and the overall economy. These differences will impact the amount of pension and other post-retirement benefit expense that the Company recognizes. The significant assumptions related to the Company’s benefit obligations are as follows: Pension Benefits Other Post-retirement Benefits 20212020 20212020Weighted Average Assumptions Used to Determine Benefit Obligations as of December 31, Discount rate2.91%2.57% 2.96%2.68%Rate of compensation increase 3.0-4.0%3.0-4.0% n/an/a Assumed Health Care Cost Trend Rates Used to Determine Benefit Obligations as of December 31, Health care cost trend raten/an/a 6.25%6.25%Rate to which the cost trend is assumed to decline (the ultimate trend rate)n/an/a 5.0%5.0%Year that the rate reaches the ultimate trend raten/an/a 20272025 n/a – Assumption is not applicable. The significant assumptions related to the Company’s net periodic benefit costs are as follows: Pension Benefits Other Post-retirement Benefits 202120202019 202120202019Weighted Average Assumptions Used to Determine Net Periodic Benefit Costs for Years Ended December 31, Discount rate2.57%3.35%4.30% 2.68%3.42%4.34%Expected return on plan assets5.60%6.00%6.50% 5.60%6.00%4.1-6.5%Rate of compensation increase3.0-4.0%3.0-4.0%3.0-4.0% n/an/an/a Assumed Health Care Cost Trend Rates Used to Determine Net Periodic Benefit Costs for Years Ended December 31, Health care cost trend raten/an/an/a 6.3%6.3%6.6%Rate to which the cost trend is assumed to decline (the ultimate trend rate)n/an/an/a 5.0%5.0%5.0%Year that the rate reaches the ultimate trend raten/an/an/a 202520252023 n/a – Assumption is not applicable. The Company’s discount rate assumption, which is utilized to calculate the present value of the projected benefit payments of our post-retirement benefits, was determined by selecting a hypothetical portfolio of high quality corporate bonds appropriate to match the projected benefit payments of the plans. The selected bond portfolio was derived from a universe of Aa-graded corporate bonds. The discount rate was then developed as the rate that equates the market value of the bonds purchased to the discounted value of the plan’s benefit payments. The Company’s pension expense and liability (benefit obligations) increases as the discount rate is reduced. The Company’s expected return on plan assets is determined by evaluating the asset class return expectations with its advisors as well as actual, long-term, historical results of our asset returns. The Company’s market related value of plan assets is equal to the fair value of the plan’s assets as of the last day of its fiscal year, and is a determinant for the expected return on plan assets which is a component of post-retirement benefits expense. The Company’s pension expense increases as the expected return on plan assets decreases. For 2021, the Company used a 5.6% expected return on plan assets assumption. The Company believes its actual long-term asset allocation on average will approximate the targeted allocation. The Company’s investment strategy is to earn a reasonable rate of return while maintaining risk at acceptable levels. Risk is managed through fixed income investments to manage interest rate exposures that impact the valuation of liabilities and through the diversification of investments across and within various asset categories. Investment returns are compared to a total plan benchmark constructed by applying the plan’s asset allocation target weightings to passive index returns representative of the respective asset classes in which the plan invests. The Retirement and Employee Benefits Committee meets quarterly to review plan investments and management monitors investment performance quarterly through a performance report prepared by an external consulting firm. The Company’s pension plan asset allocation and the target allocation by asset class are as follows: Percentage of Plan Assets at December 31, Target Allocation 20212020 Return seeking assets50 to 70% 53%54% Liability hedging assets30 to 50% 47%46% Total100% 100%100% The fair value of the Company’s pension plans’ assets at December 31, 2021 by asset class are as follows: Level 1 Level 2 Level 3 Assets measured at NAV (a) TotalCommon stock$ 20,290$ -$ -$ - $ 20,290Return seeking assets: Global equities - - - 134,394 134,394Hedge / diversifying strategies - - - 39,163 39,163Credit - - - 56,191 56,191Liability hedging assets - - - 177,574 177,574Cash and cash equivalents 5,509 - - - 5,509Total pension assets$ 25,799$ -$ -$ 407,322 $ 433,121 (a)Assets that are measured at fair value using the NAV per share practical expedient have not been classified in the fair value hierarchy. The fair value of the Company’s pension plans’ assets at December 31, 2020 by asset class are as follows: Level 1 Level 2 Level 3 Assets measured at NAV (a) TotalCommon stock$ 17,620$ -$ -$ - $ 17,620Return seeking assets: Global equities - - - 120,220 120,220Hedge / diversifying strategies - - - 38,417 38,417Credit - - - 53,378 53,378Liability hedging assets - - - 140,891 140,891Cash and cash equivalents 56,275 - - - 56,275Total pension assets$ 73,895$ -$ -$ 352,906 $ 426,801 Equity securities include our common stock in the amounts of $20,290 or 4.7% and $17,620 or 4.1% of total pension plans’ assets as of December 31, 2021 and 2020, respectively. The asset allocation for the Company’s other post-retirement benefit plans and the target allocation by asset class are as follows: Percentage of Plan Assets at December 31, Target Allocation 20212020 Return seeking assets50 to 70% 68%64% Liability hedging assets30 to 50% 32%36% Total100% 100%100% The fair value of the Company’s other post-retirement benefit plans’ assets at December 31, 2021 by asset class are as follows: Level 1 Level 2 Level 3 Assets measured at NAV (a) TotalReturn seeking assets: Global equities$ 36,753$ -$ -$ 22,544 $ 59,297Real estate securities 9,609 - - 4,391 14,000Liability hedging assets 17,241 - - 12,364 29,605Cash and cash equivalents 4,406 - - 4,406Total other post-retirement assets$ 68,009$ -$ -$ 39,299 $ 107,308 (a)Assets that are measured at fair value using the NAV per share practical expedient have not been classified in the fair value hierarchy. The fair value of the Company’s other post-retirement benefit plans’ assets at December 31, 2020 by asset class are as follows: Level 1 Level 2 Level 3 Assets measured at NAV (a) TotalReturn seeking assets: Global equities$ 31,984$ -$ -$ 20,673 $ 52,657Real estate securities 6,761 - - 3,453 10,214Liability hedging assets 17,021 - - 11,605 28,626Cash and cash equivalents 7,498 - - - 7,498Total other post-retirement assets$ 63,264$ -$ -$ 35,731 $ 98,995 Valuation Techniques Used to Determine Fair Value Common Stocks - Investments in common stocks are valued using unadjusted quoted prices obtained from active markets. Return Seeking Assets – Investments in return seeking assets consists of the following:oGlobal equities, which consist of common and preferred shares of stock, traded on U.S. or foreign exchanges that are valued using unadjusted quoted prices obtained from active markets, or commingled fund vehicles, consisting of such securities valued using NAV, which are not classified within the fair value hierarchy. oReal estate securities, which consist of securities, traded on U.S. or foreign exchanges that are valued using unadjusted quoted prices obtained from active markets, or for real estate commingle fund vehicles that are not publicly quoted, the fund administrators value the funds using the NAV per fund share, derived from the quoted prices in active markets of the underlying securities and are not classified within the fair value hierarchy. oHedge / diversifying strategies, which consist of a multi-manager fund vehicle having underlying exposures that collectively seek to provide low correlation of return to equity and fixed income markets, thereby offering diversification. As a multi-manager fund investment, NAV is derived from underlying manager NAVs, which are derived from the quoted prices in active markets of the underlying securities and are not classified within the fair value hierarchy. oCredit, which consist of certain opportunistic, return-oriented credits which primarily include below investment grade bonds (i.e. high yield bonds), bank loans, and securitized debt. Credits are valued using the NAV per fund share, derived from either quoted prices in active markets of the underlying securities, or less active markets, or quotes of similar assets, and are not classified within the fair value hierarchy. Liability Hedging Assets – Investments in liability hedging assets consist of funds investing in high-quality fixed income (i.e. U.S. Treasury securities and government bonds), and for funds for which market quotations are readily available, are valued at the last reported closing price on the primary market or exchange on which they are traded. Funds for which market quotations are not readily available, are valued using the NAV per fund share, derived from the quoted prices in active markets of the underlying securities and are not classified within the fair value hierarchy. Cash and Cash Equivalents – Investments in cash and cash equivalents are comprised of both uninvested cash and money market funds. The uninvested cash is valued based on its carrying value, and the money market funds are valued utilizing the net asset value per unit obtained from published market prices. Funding requirements for qualified defined benefit pension plans are determined by government regulations and not by accounting pronouncements. In accordance with funding rules and the Company’s funding policy, during 2022 our pension contribution is expected to be $20,390. The Company has a 401(k) savings plan, which is a defined contribution plan and covers substantially all employees. The Company makes matching contributions that are based on a percentage of an employee’s contribution, subject to specific limitations, as well as, non-discretionary contributions based on eligible hourly wages for certain union employees, discretionary year-end contributions based on an employee’s eligible compensation, and employer profit sharing contributions. Participants may diversify their Company matching account balances into other investments offered under the 401(k) savings plan. The Company’s contributions, which are recorded as compensation expense, were $19,569, $15,445, and $6,259, for the years ended December 31, 2021, 2020, and 2019, respectively.