XML 30 R19.htm IDEA: XBRL DOCUMENT v3.22.2.2
Employee Benefit Plans:
 9 Months Ended
Sep. 30, 2022
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
Components of Net Periodic Expense

The components of net periodic expense were as follows (in thousands):

Defined Benefit Pension PlanSupplemental Non-qualified Defined Benefit PlansNon-pension Defined Benefit Postretirement Healthcare Plan
Three Months Ended September 30,202220212022202120222021
Net Service cost$982 $1,260 $(271)$235 $492 $560 
Interest cost2,705 2,328 209 176 321 264 
Expected return on plan assets(4,631)(5,219)— — (31)(34)
Net amortization of prior service costs(17)— — — (72)(108)
Recognized net actuarial loss1,522 1,828 69 439 16 116 
Net periodic expense (benefit)$561 $197 $7 $850 $726 $798 

Defined Benefit Pension PlanSupplemental Non-qualified Defined Benefit PlansNon-pension Defined Benefit Postretirement Healthcare Plan
Nine Months Ended September 30,202220212022202120222021
Net Service cost$2,946 $3,779 $(2,018)$1,948 $1,476 $1,678 
Interest cost8,114 6,984 626 530 963 793 
Expected return on plan assets(13,892)(15,657)— — (93)(102)
Net amortization of prior service costs(51)— — — (217)(326)
Recognized net actuarial loss4,568 5,486 207 1,316 48 350 
Net periodic expense (benefit)$1,685 $592 $(1,185)$3,794 $2,177 $2,393 
Plan Contributions

Contributions to the Defined Benefit Pension Plan are cash contributions made directly to the Pension Plan Trust account. Contributions to the Postretirement Healthcare and Supplemental Plans are made in the form of benefit payments. Contributions made in the first nine months of 2022 and anticipated contributions for 2022 and 2023 are as follows (in thousands):

Contributions MadeAdditional ContributionsContributions
Nine Months Ended September 30, 2022Anticipated for 2022Anticipated for 2023
Defined Benefit Pension Plan$— $— $— 
Non-pension Defined Benefit Postretirement Healthcare Plan$3,828 $1,276 $5,062 
Supplemental Non-qualified Defined Benefit and Defined Contribution Plans$1,617 $539 $2,224 

Funding Status of Employee Benefit Plans

Based on the fair value of assets and estimated discount rate used to value benefit obligations as of September 30, 2022, we estimate the unfunded status of our employee benefit plans to be approximately $32 million compared to $20 million at December 31, 2021. In 2012, we froze our pension plan and closed it to new participants. Since then, we have implemented various de-risking strategies including lump sum buyouts, the purchase of annuities and the reduction of return-seeking assets over time to a more liability-hedged portfolio. As a result, recent capital markets volatility had a limited impact to our unfunded status and does not require interim re-measurement of our pension plan assets or defined benefit obligations.