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Pension Plans And Other Postretirement Benefits | 9 Months Ended
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Sep. 30, 2024
Pension Plans And Other Postretirement Benefits [Abstract] |
Pension Plans And Other Postretirement Benefits | Note 10 – Pension Plans and Other Postretirement Benefits The Company maintains a qualified defined benefit pension plan (the “Pension Plan”), a nonqualified pension plan, and other postretirement benefit plans for certain of its employees. The following tables provide the components of net periodic benefit cost for the Company’s pension and other postretirement benefit plans:
|  | Pension Benefits
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, |  | September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost |  | $ | 358 |  | $ | 400 |  | $ | 1,072 |  | $ | 1,201
Interest cost |  |  | 3,908 |  |  | 4,309 |  |  | 11,724 |  |  | 12,926
Expected return on plan assets |  |  | (4,696) |  |  | (5,673) |  |  | (14,088) |  |  | (17,018)
Amortization of prior service cost |  |  | 82 |  |  | 171 |  |  | 244 |  |  | 513
Amortization of actuarial loss |  |  | 751 |  |  | 810 |  |  | 2,253 |  |  | 2,428
Net periodic benefit cost |  | $ | 403 |  | $ | 17 |  | $ | 1,205 |  | $ | 50
|  | Other
|  | Postretirement Benefits
|  |  | Three Months Ended |  |  | Nine Months Ended
|  |  | September 30, |  |  | September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost |  | $ | 363 |  | $ | 337 |  | $ | 1,089 |  | $ | 1,011
Interest cost |  |  | 1,113 |  |  | 1,119 |  |  | 3,337 |  |  | 3,357
Expected return on plan assets |  |  | (1,105) |  |  | (1,093) |  |  | (3,315) |  |  | (3,279)
Amortization of actuarial gain |  |  | (267) |  |  | (329) |  |  | (801) |  |  | (988)
Net periodic benefit cost |  | $ | 104 |  | $ | 34 |  | $ | 310 |  | $ | 101
The net periodic benefit cost is based on estimated values and an extensive use of assumptions about the discount rate, expected return on plan assets, the rate of future compensation increases received by the Company’s employees, mortality, turnover, and medical costs. The Company presents the components of net periodic benefit cost other than service cost in the condensed consolidated statements of operations and comprehensive income on the line item “Other, net”. The Company made a cash contribution of $9,394 to the Pension Plan during the third quarter of 2024, which completed the Company’s expected cash contributions for the year.

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