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Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2021

Defined Benefit Plan Disclosure [Line Items]

Schedule of Funded Status Of Retirement Income Plan And Retirement Life Plan

December 31,						Pension Plan
($ in thousands)						2021						2020
Change in Benefit Obligation:
Benefit obligation, beginning of year						$	425,161					391,021
Interest cost						8,593						11,312
Actuarial (gains) losses						(12,844)						35,276
Benefits paid						(13,152)						(12,448)
Benefit obligation, end of year						$	407,758					425,161
Change in Fair Value of Assets:
Fair value of assets, beginning of year						$	432,716					385,087
Actual return on plan assets, net of expenses						30,741						60,077
Benefits paid						(13,152)						(12,448)
Fair value of assets, end of year						$	450,305					432,716
Funded status						$	42,547					7,555

Schedule of Amounts Recognized in Consolidated Balance Sheet

Amounts Recognized in the Consolidated Balance Sheet:
Net pension assets, end of year						$	42,547					7,555

Schedule of Amounts recognized in Accumulated Other than Comprehensive Income

Amounts Recognized in AOCI:
Net actuarial loss						$	78,304					101,414

Schedule of Other Information as of December 31

Other Information as of December 31:
Accumulated benefit obligation						$	407,758					425,161

Schedule of Components Of Net Periodic Benefit Cost And Other Amounts Recognized In Other Comprehensive Income

						Pension Plan
($ in thousands)						2021						2020						2019
Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income:
Net Periodic Benefit Cost (Benefit):
Interest cost						$	8,593					11,312						13,506
Expected return on plan assets						(22,976)						(21,907)						(21,114)
Amortization of unrecognized actuarial loss						2,501						2,817						2,575
Total net periodic pension cost (benefit)1						$	(11,882)					(7,778)						(5,033)
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income:
Net actuarial (gain) loss						$	(20,609)					(2,894)						11,643
Reversal of amortization of net actuarial loss						(2,501)						(2,817)						(2,575)
Total recognized in other comprehensive income						$	(23,110)					(5,711)						9,068
Total recognized in net periodic benefit cost and other comprehensive income						$	(34,992)					(13,489)						4,035

Schedule Of Weighted- Average Expense and Liability Assumptions

Weighted-Average Liability Assumptions as of December 31:
Discount rate						2.98		%				2.68

						Pension Plan
						2021						2020						2019
Weighted-Average Expense Assumptions for the years ended December 31:
Discount rate						2.68		%				3.33						4.46
Interest rate						2.06		%				2.95		%				4.12		%
Expected return on plan assets						5.40						5.80						6.50

Schedule of Allocation of Plan Assets

						2021															2020
						Target Percentage									Actual Percentage						Actual Percentage
						Minimum			Maximum
Return seeking assets1						50		%	70		%				66		%				64		%
Liability hedging assets						70		%	80		%				33		%				35		%
Short-term investments						-			-						1		%				1		%
Total						100		%	100		%				100		%				100		%

Schedule of Quantitative Disclosures of our Financial Assets that were Measured at Fair Value

December 31, 2021												Fair Value Measurements Using
($ in thousands)						Assets Measured at Fair Value						Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs  (Level 3)
Description
Measured on a recurring basis:
AFS fixed income securities:
U.S. government and government agencies						$	130,458					60,615						69,843						—
Foreign government						15,860						—						15,860						—
Obligations of states and political subdivisions						1,189,308						—						1,181,563						7,745
Corporate securities						2,573,603						—						2,459,476						114,127
CLO and other ABS						1,350,814						—						1,225,905						124,909
RMBS						776,252						—						776,007						245
CMBS						673,681						—						669,425						4,256
Total AFS fixed income securities						6,709,976						60,615						6,398,079						251,282
Equity securities:
Common stock1						333,449						249,846						—						—
Preferred stock						2,088						2,088						—						—
Total equity securities						335,537						251,934						—						—
Short-term investments						447,863						442,723						5,140						—
Total assets measured at fair value						$	7,493,376					755,272						6,403,219						251,282

December 31, 2020												Fair Value Measurements Using
($ in thousands)						Assets Measured at Fair Value						Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs  (Level 3)
Description
Measured on a recurring basis:
AFS fixed income securities:
U.S. government and government agencies						$	116,140					40,960						75,180						—
Foreign government						18,366						—						18,366						—
Obligations of states and political subdivisions						1,247,137						—						1,244,243						2,894
Corporate securities						2,328,052						—						2,257,352						70,700
CLO and other ABS						1,026,551						—						970,176						56,375
RMBS						1,051,788						—						1,051,788						—
CMBS						667,894						—						667,894						—
Total AFS fixed income securities						6,455,928						40,960						6,284,999						129,969
Equity securities:
Common stock1						308,632						261,846						—						—
Preferred stock						1,735						1,735						—						—
Total equity securities						310,367						263,581						—						—
Short-term investments						409,852						405,400						4,452						—
Total assets measured at fair value						$	7,176,147					709,941						6,289,451						129,969

1Investments amounting to $83.6 million and $46.8 million at December 31, 2021 and December 31, 2020, respectively, were measured at fair value using the net asset value per share (or its practical expedient) and have not been classified in the fair value hierarchy. These investments are not redeemable and the timing of liquidations of the underlying assets is unknown at each reporting period. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to total assets measured at fair value.

Schedule of Expected Benefit Payments

Payments

($ in thousands)						Pension Plan
Benefits Expected to be Paid in Future
Fiscal Years:
2022						$	14,900
2023						16,099
2024						17,232
2025						18,296
2026						19,394
2026-2030						108,742

Retirement Income Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Quantitative Disclosures of our Financial Assets that were Measured at Fair Value

December 31, 2021												Fair Value Measurements at 12/31/21 Using
($ in thousands)						Assets Measured at Fair Value At 12/31/21						Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Description
Return seeking assets:
Equities:
Global equity						$	144,634					144,634						—						—
Diversified credit						66,165						66,165						—						—
Real assets						89,590						89,590						—						—
Total equities						300,389						300,389						—						—
Limited partnerships (at net asset value)1:
Real assets						47						—						—						—
Private equity						413						—						—						—
Total limited partnerships						460						—						—						—
Total return seeking assets						300,849						300,389						—						—
Liability hedging assets:
Fixed income						86,183						86,183						—						—
U.S. Treasury overlay						65,304						65,304						—						—
Total liability hedging assets						151,487						151,487						—						—
Cash and short-term investments:
Short-term investments						1,744						1,744						—						—
Deposit administration contracts						2,422						—						2,422						—
Total cash and short-term investments						4,166						1,744						2,422						—
Total invested assets						$	456,502					453,620						2,422						—

December 31, 2020												Fair Value Measurements at 12/31/20 Using
($ in thousands)						Assets Measured at Fair Value At 12/31/20						Quoted Prices in Active Markets for Identical Assets/ Liabilities (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Description
Return seeking assets:
Equities:
Global equity						$	142,320					142,320						—						—
Diversified credit						73,762						73,762						—						—
Real assets						61,585						61,585						—						—
Total equities						277,667						277,667						—						—
Limited partnerships (at net asset value)1:
Real assets						73						—						—						—
Private equity						400						—						—						—
Private credit						29						—						—						—
Total limited partnerships						502						—						—						—
Total return seeking assets						278,169						277,667						—						—
Liability hedging assets:
Fixed income						99,490						99,490						—						—
U.S. Treasury overlay						52,756						52,756						—						—
Total liability hedging assets						152,246						152,246						—						—
Cash and short-term investments:
Short-term investments						3,273						3,273						—						—
Deposit administration contracts						2,073						—						2,073						—
Total cash and short-term investments						5,346						3,273						2,073						—
Total invested assets						$	435,761					433,186						2,073						—

1In accordance with the FASB issued ASU 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent), certain investments that are measured at fair value using the net asset value per share (or its practical expedient) have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to total Pension Plan invested assets.

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