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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Components of Net Periodic Postretirement Benefit Cost

The following table sets forth the components of net periodic postretirement benefit cost for the years ended December 31, 2022, 2021 and 2020:

 

 

 

2022

 

 

2021

 

 

2020

 

 

 

(In thousands)

 

Service cost, benefits attributed for service of active employees for the period

 

$

91

 

 

$

104

 

 

$

103

 

Interest cost on the accumulated postretirement benefit obligation

 

 

119

 

 

 

99

 

 

 

154

 

Amortization of actuarial gain

 

 

(48

)

 

 

 

 

 

(22

)

Net periodic postretirement benefit cost

 

$

162

 

 

$

203

 

 

$

235

 

 

Reconciliation of Projected Benefit Obligation The following table provides a reconciliation of the projected benefit obligation at the Company's December 31 measurement date:

 

 

 

2022

 

 

2021

 

 

 

(In thousands)

 

Benefit obligation at beginning of year

 

$

5,544

 

 

$

6,145

 

Service cost

 

 

91

 

 

 

104

 

Interest cost

 

 

119

 

 

 

99

 

Actuarial gain

 

 

(833

)

 

 

(504

)

Plan participants' contributions

 

 

600

 

 

 

603

 

Benefits paid

 

 

(1,277

)

 

 

(903

)

Benefit obligation, end of year

 

$

4,244

 

 

$

5,544

 

Schedule of Amounts Recognized in Consolidated Balance Sheets

The amounts recognized in the Consolidated Balance Sheets at December 31 are:

 

 

 

2022

 

 

2021

 

 

 

(In thousands)

 

Accrued compensation and employee benefits

 

$

328

 

 

$

331

 

Accrued non-pension postretirement benefits

 

 

3,916

 

 

 

5,213

 

Amounts recognized at December 31

 

$

4,244

 

 

$

5,544

 

 

Schedule of Amounts Included in Accumulated Other Comprehensive Income, Net of Tax Expected to Recognized in Net Periodic Benefit Cost

Amounts included in accumulated other comprehensive income, net of tax, at December 31, 2022 that have not yet been recognized in net periodic benefit cost are as follows:

 

 

 

Pension
plans

 

 

Other
postretirement
benefits

 

 

 

(In thousands)

 

Net actuarial loss (gain)

 

$

101

 

 

$

(1,095

)