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PENSION, PROFIT SHARING, AND OTHER EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
The Plan's Funded Status
The Pension Plan’s funded status at December 31 is as follows:

(In thousands)20222021
Reconciliation of Projected Benefit Obligation:
Projected obligation at January 1$48,079 $52,426 
Interest cost1,301 1,269 
Actuarial (gain)/ loss376 (22)
Benefit payments(2,106)(1,115)
Increase/ (decrease) related to change in assumptions(12,111)(2,040)
Settlement - lump sum payments— (2,439)
Projected obligation at December 3135,539 48,079 
Reconciliation of Fair Value of Plan Assets:
Fair value of plan assets at January 145,207 48,357 
Actual return on plan assets(10,814)(596)
Employer contributions— 1,000 
Benefit payments(2,106)(1,115)
Settlement - lump sum payments— (2,439)
Fair value of plan assets at December 31$32,287 $45,207 
Funded status at December 31$(3,252)$(2,872)
Accumulated benefit obligation at December 31$35,539 $48,079 
Unrecognized net actuarial loss$10,736 $11,030 
Net periodic pension cost not yet recognized$10,736 $11,030 
Weighted-Average Assumptions Used To Determine Benefit Obligations
Weighted average assumptions used to determine benefit obligations at December 31 are presented in the following table:

202220212020
Discount rate5.10%2.80%2.50%
Rate of compensation increaseN/AN/AN/A
Net Periodic Benefit Cost
The components of net periodic benefit cost for the years ended December 31 are presented in the following table:

(In thousands)202220212020
Interest cost on projected benefit obligation$1,301 $1,269 $1,437 
Expected return on plan assets(1,410)(1,247)(1,821)
Recognized net actuarial loss783 909 874 
Settlement charge— 560 — 
Net periodic benefit cost$674 $1,491 $490 
Weighted-Average Assumptions Used To Determine Net Periodic Benefit Cost
Weighted average assumptions used to determine net periodic benefit cost for years ended December 31 are presented in the following table:

202220212020
Discount rate2.80%2.50%3.25%
Expected return on plan assets3.75%3.25%4.75%
Rate of compensation increaseN/AN/AN/A
Components Of Net Unrecognized Benefits Costs That Is Reflected In Accumulated Other Comprehensive Income (Loss) Reclassifications represent the portion of the unrecognized benefits that are recognized each period as a component of the net periodic benefit cost.


(In thousands)
Unrecognized Net
Loss
Included in accumulated other comprehensive loss at January 1, 2020$11,177 
Reductions during the year(4,256)
Reclassifications due to recognition as net periodic pension cost(874)
Increase related to change in assumptions6,672 
Included in accumulated other comprehensive loss as of December 31, 202012,719 
Reductions during the year1,842 
Reclassifications due to recognition as net periodic pension cost(909)
Settlement charge(560)
Increase related to change in assumptions(2,062)
Included in accumulated other comprehensive loss as of December 31, 202111,030 
Additions during the year12,224 
Reclassifications due to recognition as net periodic pension cost(783)
Settlement charge— 
Decrease related to change in assumptions(11,735)
Included in accumulated other comprehensive loss as of December 31, 202210,736 
Applicable tax effect(2,734)
Included in accumulated other comprehensive loss net of tax effect at December 31, 2022$8,002 
Amount expected to be recognized as part of net periodic pension cost in the next fiscal year$1,160 
Component of Net Periodic Benefit
The following items have not yet been recognized as a component of net periodic benefit cost at December 31:
(In thousands)202220212020
Net actuarial loss$10,736 $11,030 $12,719 
Net periodic benefit cost not yet recognized$10,736 $11,030 $12,719 
Pension Plan Weighted Average Allocations
The Company’s Pension Plan weighted average allocations at December 31 are presented in the following table:

20222021
Asset Category:
Equity Securities Mutual Funds— %11.5 %
Fixed Income Mutual Funds100.0 %88.5 %
Total pension plan assets100.0 %100.0 %
Fair Values Of Pension Plan Assets By Asset Category
The fair values of the Company’s Pension Plan assets by asset category at December 31 are presented in the following tables:

2022
(In thousands)Quoted Prices in Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
Asset Category:
Mutual funds:
Large cap U.S. equity funds$— $— $— $— 
Small/Mid cap U.S. equity funds— — — — 
International equity funds— — — — 
Short-term fixed income funds9,517 22,770 — 32,287 
Total mutual funds9,517 22,770 — 32,287 
Total pension plan assets$9,517 $22,770 $— $32,287 
2021
(In thousands)Quoted Prices In Active Markets for
 Identical Assets
 (Level 1)		Significant Other
 Observable
 Inputs
 (Level 2)		Significant
Unobservable
 Inputs
 (Level 3)		Total
Asset Category:
Mutual funds:
Large cap U.S. equity funds$2,231 $575 $— $2,806 
Small/Mid cap U.S. equity funds— 1,536 — 1,536 
International equity funds875 — — 875 
Short-term fixed income funds9,558 30,432 — 39,990 
Total mutual funds12,664 32,543 — 45,207 
Total pension plan assets$12,664 $32,543 $— $45,207 
Schedule of Benefit Payments
Benefit payments, which reflect expected future service, as appropriate, that are expected to be paid for the years ending December 31 are presented in the following table:
(In thousands)Pension Benefits
2023$2,430 
20242,900 
20252,280 
20262,880 
20272,950 
Thereafter13,590