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Retirement Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2021
Retirement Benefits [Abstract]  
Assumptions used in accounting for the defined benefit plan
The assumptions used in accounting for the defined benefit plans were as follows for the years ended December 31:
 20212020
Weighted average discount rates for pension benefit obligation
2.53% - 2.77%
2.02% - 2.36%
Weighted average discount rates for net periodic benefit cost
2.02% - 2.36%
2.98% - 3.20%
Expected long-term rate of return on assets for net periodic benefit cost7.00 %7.00 %
The assumptions used in accounting for the postretirement health care plans are set forth below for the years ended December 31:
 20212020
Weighted average discount rates for benefit obligation2.12 %1.37 %
Weighted average discount rates for net periodic benefit cost1.37 %
1.37% - 2.65%
Health care cost trend rate assumed for next year6.50 %6.25 %
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)4.50 %5.00 %
Year that the rate reaches the ultimate trend rate20292027
Net periodic benefit income and expense for the defined benefit plan
Set forth below is detail of the net periodic pension income for the defined benefit plans for the years ended December 31:
 20212020
Interest cost$1,002 $1,285 
Expected return on plan assets(2,568)(2,435)
Amortization of actuarial loss718 597 
Amortization of prior service cost59 58 
Net periodic pension income$(789)$(495)
Set forth below is detail of the net periodic benefit expense (income) for the postretirement health care plans for the years ended December 31:
 20212020
Service cost$13 $21 
Interest cost27 52 
Amortization of actuarial loss (gain)19 (1)
Amortization of prior service credit(54)(59)
Amortization of curtailment— (31)
Net periodic benefit expense (income)$5 $(18)
Changes in plan assets and benefit obligations recognized in comprehensive income (loss)
Set forth below is detail of other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss for the years ended December 31:
 20212020
Current year actuarial (gain) loss$(3,793)$667 
Amortization of actuarial loss(718)(597)
Amortization of prior service cost(59)(58)
Total recognized in other comprehensive (income) loss$(4,570)$12 
Set forth below is detail of other changes in plan assets and benefit obligations recognized in other comprehensive loss for the years ended December 31:
 20212020
Current year actuarial (gain) loss$(48)$194 
Amortization of actuarial (loss) gain(19)1 
Amortization of prior service credit54 59 
Amortization of curtailment— 31 
Transfers126 46 
Total recognized in other comprehensive loss$113 $331 
Changes in benefit obligations during the year and funded status of defined benefit plan
The following table sets forth the changes in the benefit obligation and the plan assets during the year and the funded status of the defined benefit plans at December 31:
 20212020
Change in benefit obligation  
Projected benefit obligation at beginning of year$44,600 $41,854 
Interest cost1,002 1,285 
Actuarial (gain) loss(1,367)3,996 
Benefits paid(2,572)(2,535)
Projected benefit obligation at end of year$41,663 $44,600 
Accumulated benefit obligation at end of year$41,663 $44,600 
Change in plan assets  
Fair value of plan assets at beginning of year$41,099 $37,364 
Actual return on plan assets4,995 5,763 
Employer contributions487 507 
Benefits paid(2,572)(2,535)
Fair value of plan assets at end of year$44,009 $41,099 
Funded status at end of year$2,346 $(3,501)
Amounts recognized in the balance sheets consist of:  
Non-current assets$7,806 $4,070 
Current liabilities(542)(549)
Non-current liabilities(4,918)(7,022)
 $2,346 $(3,501)
Components of accumulated other comprehensive loss consist of:
Actuarial loss$9,510 $14,022 
Prior service cost703 761 
Deferred taxes(2,254)(3,316)
 $7,959 $11,467 
The following sets forth the changes in benefit obligations during the year and the funded status of the postretirement health care at December 31:
 20212020
Change in benefit obligation  
Benefit obligation at beginning of year$2,054 $2,049 
Service cost13 21 
Interest cost27 52 
Plan amendments— 49 
Actuarial (gain) loss(48)145 
Benefits paid(169)(262)
Benefit obligation at end of year$1,877 $2,054 
Funded status at end of year$(1,877)$(2,054)
Amounts recognized in the balance sheets consist of:  
Current liabilities$(190)$(238)
Noncurrent liabilities(1,687)(1,816)
 $(1,877)$(2,054)
Components of accumulated other comprehensive loss consist of: 
Actuarial loss$520 $466 
Prior service credit(108)(167)
Deferred taxes(195)(167)
 $217 $132 
Future benefit payments
Future pension benefit payments expected to be paid from assets of the pension plans are:
2022$2,710 
20232,697 
20242,716 
20252,684 
20262,672 
2027 - 203112,779 
 $26,258 
Future postretirement health care benefit payments expected to be paid are:
2022191 
2023191 
2024182 
2025176 
2026169 
2027 - 2031700 
 $1,609 
Actual allocation percentage and target allocation percentage for pension plan assets
The following is the actual allocation percentage and target allocation percentage for the pension plan assets at December 31:
 2021
Actual
Allocation		2020
Actual
Allocation		Target Allocation
Range
U.S. equity securities48.7 %45.4 %
36.0% - 54.0%
Non-U.S. equity securities19.7 %20.3 %
16.0% - 24.0%
Fixed income securities31.2 %33.9 %
30.0% - 40.0%
Money market0.4 %0.4 %
0.0% - 10.0%
Fair value of pension plan assets
The fair value of each major category of the Company's pension plan assets are valued using quoted market prices in active markets for identical assets, or Level 1 in the fair value hierarchy. Following are the values as of December 31:
Level 1
 20212020
U.S. equity securities$21,434 $18,640 
Non-U.S. equity securities8,678 8,335 
Fixed income securities13,723 13,948 
Money market174 176 
Total$44,009 $41,099