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Pension Plans and Postretirement Benefits | 6 Months Ended
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Jun. 30, 2025
Retirement Benefits [Abstract] |
Pension Plans and Postretirement Benefits | PENSION PLANS AND POSTRETIREMENT BENEFITS We record the service cost component of net periodic benefit cost within Operating income on our condensed consolidated statements of income. For the three months ended June 30, 2025 and 2024, these amounts were $3.3 million and $1.9 million, respectively. For the six months ended June 30, 2025 and 2024, these amounts were $5.0 million and $4.0 million, respectively. All other components of net periodic benefit cost are included in Other – net within the condensed consolidated statements of income. For the three months ended June 30, 2025 and 2024, these amounts were $(2.0) million and $(2.7) million, respectively. For the six months ended June 30, 2025 and 2024, these amounts were $(3.7) million and $(5.7) million, respectively. Components of net periodic benefit cost included in net income were as follows:
|  | Pension Benefits |  | Other Benefits
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024
|  | (In thousands)
Service cost |  | $ | 2,897 |  |  | $ | 1,768 |  |  | $ | 4,580 |  |  | $ | 3,765 |  |  | $ | 384 |  |  | $ | 96 |  |  | $ | 469 |  |  | $ | 193 |
Interest cost |  | 13,782 |  |  | 11,133 |  |  | 25,235 |  |  | 22,763 |  |  | 869 |  |  | 503 |  |  | 1,401 |  |  | 1,008 |
Expected return on plan assets |  | (16,987) |  |  | (14,654) |  |  | (30,991) |  |  | (30,153) |  |  | (487) |  |  | (487) |  |  | (973) |  |  | (974) |
Amortization of prior service cost |  | 792 |  |  | 820 |  |  | 1,583 |  |  | 1,640 |  |  | 22 |  |  | 12 |  |  | 44 |  |  | 23 |
Net periodic benefit (income) / loss |  | $ | 484 |  |  | $ | (933) |  |  | $ | 407 |  |  | $ | (1,985) |  |  | $ | 788 |  |  | $ | 124 |  |  | $ | 941 |  |  | $ | 250 |

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