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Pension and Postretirement Plans (Tables) | 6 Months Ended
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Jun. 30, 2025
Defined Benefit Pension Plan [Member] |
Schedule of Net Benefit Costs | The total benefit arising from the Company’s defined benefit pension plans consists of the following components:
| Three Months Ended June 30 |  | Six Months Ended June 30
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Service cost | $ | 11,699 |  |  | $ | 14,071 |  |  | $ | 23,891 |  |  | $ | 28,105 |
Interest cost | 6,956 |  |  | 11,246 |  |  | 13,377 |  |  | 22,440 |
Expected return on assets | (41,881) |  |  | (41,239) |  |  | (83,852) |  |  | (82,929) |
Amortization of prior service credit | (521) |  |  | (482) |  |  | (1,040) |  |  | (976) |
Recognized actuarial gain | — |  |  | (11,263) |  |  | — |  |  | (23,781) |
Net Periodic Benefit | (23,747) |  |  | (27,667) |  |  | (47,624) |  |  | (57,141) |
Special separation benefit expense | 6,015 |  |  | 16,410 |  |  | 6,639 |  |  | 16,828 |
Total Benefit | $ | (17,732) |  |  | $ | (11,257) |  |  | $ | (40,985) |  |  | $ | (40,313) |
Schedule of Allocation of Plan Assets | The assets of the Company’s pension plans were allocated as follows:
| As of
| June 30, 2025 |  | December 31, 2024
U.S. equities | 59 | % |  | 64 | %
Private investment funds | 17 | % |  | 19 | %
International equities | 19 | % |  | 12 | %
U.S. fixed income | 5 | % |  | 5 | %
| 100 | % |  | 100 | %
Supplemental Executive Retirement Plan (SERP) [Member] |
Schedule of Net Benefit Costs | The total cost arising from the Company’s Supplemental Executive Retirement Plan (SERP) consists of the following components:
| Three Months Ended June 30 |  | Six Months Ended June 30
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Service cost | $ | 238 |  |  | $ | 288 |  |  | $ | 477 |  |  | $ | 575 |
Interest cost | 1,197 |  |  | 1,129 |  |  | 2,394 |  |  | 2,257 |
Net Periodic Cost | $ | 1,435 |  |  | $ | 1,417 |  |  | $ | 2,871 |  |  | $ | 2,832 |
Other Postretirement Benefit Plan, Defined Benefit [Member] |
Schedule of Net Benefit Costs | Other Postretirement Plans. The total benefit arising from the Company’s other postretirement plans consists of the following components:
| Three Months Ended June 30 |  | Six Months Ended June 30
(in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Interest cost | $ | 12 |  |  | $ | 14 |  |  | $ | 22 |  |  | $ | 28 |
Recognized actuarial gain | (380) |  |  | (470) |  |  | (759) |  |  | (939) |
Net Periodic Benefit | $ | (368) |  |  | $ | (456) |  |  | $ | (737) |  |  | $ | (911) |

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- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (q) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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