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Employee Benefit Plans (Table Text Block)
12 Months Ended
Mar. 31, 2025
Table Text Block [Abstract]  
Summary Of Financing Arrangements for Leveraged ESOP Debt

 

 

Years Ended March 31,

 

 

 

2025

 

 

2024

 

 

 

(In thousands)

 

Allocated shares - Voting Common Stock

 

 

733

 

 

 

777

 

Allocated shares - Non-Voting Common Stock

 

 

7,845

 

 

 

7,778

 

Shares Held by the ESOP Plan

The components of net periodic post retirement benefit cost were as follows:

 

 

 

Years Ended March 31,

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(In thousands)

 

Service cost for benefits earned during the period

 

$

982

 

$

 

1,188

 

$

 

1,326

 

Other components of net periodic benefit costs:

 

 

 

 

 

 

 

 

 

Interest cost on accumulated postretirement benefit

 

 

1,499

 

 

 

1,469

 

 

 

1,148

 

Other components

 

 

(11

)

 

 

(11

)

 

 

68

 

Total other components of net periodic benefit costs

 

 

1,488

 

 

 

1,458

 

 

 

1,216

 

Net periodic postretirement benefit cost

 

$

2,470

 

$

 

2,646

 

$

 

2,542

 

Components of Net Periodic Post Retirement Benefit Cost

 

 

Years Ended March 31,

 

 

 

2025

 

 

2024

 

 

 

(In thousands)

 

Beginning of year

$

 

28,326

 

$

 

28,770

 

Service cost for benefits earned during the period

 

 

982

 

 

 

1,188

 

Interest cost on accumulated post retirement benefit

 

 

1,499

 

 

 

1,469

 

Net benefit payments and expense

 

 

(1,327

)

 

 

(1,240

)

Actuarial gain

 

 

(496

)

 

 

(1,861

)

Prior service credit

 

 

(1,579

)

 

 

 

Accumulated postretirement benefit obligation

 

 

27,405

 

 

 

28,326

 

 

 

 

 

 

 

 

Current liabilities

 

 

1,790

 

 

 

1,741

 

Non-current liabilities

 

 

25,614

 

 

 

26,585

 

 

 

 

 

 

 

 

Total post retirement benefit liability recognized in statement of financial position

 

 

27,404

 

 

 

28,326

 

Components included in accumulated other comprehensive income (loss):

 

 

 

 

 

 

Unrecognized net loss

 

 

3,449

 

 

 

1,385

 

Cumulative net periodic benefit cost (in excess of employer contribution)

$

 

30,853

 

$

 

29,711

 

Components of Post Retirement Benefit Liabilities

 

 

Years Ended March 31,

 

 

2025

2024

2023

 

 

(In percentages)

 

 

Accumulated postretirement benefit obligation

 

 

5.45

 

%

 

5.34

 

%

 

5.08

 

%

Discount Rate Assumptions for Accumulated Postretirement Benefit Obligations

 

 

Future Net Benefit Payments

 

 

 

(In thousands)

 

Year-ended:

 

 

 

2026

$

 

1,789

 

2027

 

 

2,010

 

2028

 

 

2,211

 

2029

 

 

2,387

 

2030

 

 

2,596

 

2031 Through 2035

 

 

13,158

 

Total

$

 

24,151