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Benefit Plans (Tables)
3 Months Ended
Mar. 31, 2023
Retirement Benefits [Abstract]  
Components of Company Plan Benefit Expense

The following table summarizes key information related to the Company’s pension plans and retirement agreements (in thousands):

 

 

 

Three Months Ended
March 31,
2023

 

 

Year Ended
December 31,
2022

 

Change in Projected Benefit Obligation

 

 

 

 

 

 

Projected benefit obligation, beginning of period

 

$

26,207

 

 

$

31,830

 

Service cost

 

 

186

 

 

 

1,118

 

Interest cost

 

 

336

 

 

 

962

 

Actuarial gain

 

 

 

 

 

(6,710

)

Benefits paid

 

 

(213

)

 

 

(993

)

Projected benefit obligation, end of period

 

$

26,516

 

 

$

26,207

 

Change in Plan Assets

 

 

 

 

 

 

Plan assets at fair value, beginning of period

 

$

 

 

$

 

Company contributions

 

 

213

 

 

 

993

 

Benefits paid

 

 

(213

)

 

 

(993

)

Plan assets at fair value, end of period

 

$

 

 

$

 

Unfunded Status of the Plan

 

$

26,516

 

 

$

26,207

 

Components of Net Periodic Benefit Cost

 

 

Three Months Ended

 

 

 

 

March 31,
2023

 

 

March 31,
2022

 

 

Components of Net Periodic Benefit Cost

 

 

 

 

 

 

 

Service cost

 

$

186

 

 

$

280

 

 

Interest cost

 

 

336

 

 

 

240

 

 

Net loss

 

 

0

 

 

 

108

 

 

Net periodic pension cost

 

$

522

 

 

$

628