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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Changes in Benefit Obligation and Plan Assets
Changes in benefit obligation and plan assets and amounts recognized in the Consolidated Balance Sheets at December 31, were as follows:
Pension
Benefits
Other Postretirement Benefits
2025202420252024
(In thousands)
Change in benefit obligation:
Benefit obligation at beginning of year
$30,720 $33,380 $14,055 $14,759 
Service cost
— — 364 372 
Interest cost
1,583 1,542 745 697 
Actuarial (gain) loss
583 (1,549)1,628 (1,221)
Benefits paid
(2,559)(2,653)(570)(552)
Benefit obligation at end of year
30,327 30,720 16,222 14,055 
Change in net plan assets:
Fair value of plan assets at beginning of year
30,375 30,187 — — 
Actual return on plan assets
2,564 741 — — 
Employer contribution
— 2,100 570 552 
Benefits paid
(2,559)(2,653)(570)(552)
Fair value of net plan assets at end of year
30,380 30,375 — — 
Funded status - over (under)
$53 $(345)$(16,222)$(14,055)
Amounts recognized in the Consolidated Balance Sheets at December 31:
Other accrued assets
$533 $140 $— $— 
Other accrued liabilities
— — 795 702 
Noncurrent liabilities - other
480 485 15,427 13,353 
Benefit obligation assets (liabilities) - net
$53 $(345)$(16,222)$(14,055)
Amounts recognized in accumulated other comprehensive loss consist of:
Actuarial (gain) loss
$15,995 $16,742 $(1,815)$(3,663)
Prior service credit
— — — — 
Total
$15,995 $16,742 $(1,815)$(3,663)
Schedule of Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for these plans at December 31, were as follows:
20252024
(In thousands)
Projected benefit obligation$30,327 $30,720 
Accumulated benefit obligation$30,327 $30,720 
Fair value of plan assets$30,380 $30,375 
Schedule of Net Benefit Costs The components related to our pension and other postretirement benefit plans for the years ended December 31, were as follows:
Pension BenefitsOther Postretirement Benefits
202520242023202520242023
(In thousands)
Components of net periodic benefit cost:
Service cost
$— $— $— $364 $372 $361 
Interest cost
1,583 1,542 1,633 745 697 721 
Expected return on assets
(1,788)(1,812)(1,800)— — 11 
Amortization of prior service credit
— — — — (30)(79)
Amortization of actuarial gain (loss)
554 559 510 (220)(118)(175)
Net periodic benefit cost
349 289 343 889 921 839 
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive loss:
Net (gain) loss
(193)(479)(797)1,628 (1,221)(678)
Amortization of actuarial gain (loss)
(554)(559)(510)220 118 175 
Amortization of prior service credit
— — — — 30 79 
Total recognized in accumulated other comprehensive loss
(747)(1,038)(1,307)1,848 (1,073)(424)
Total recognized in net periodic benefit cost and accumulated other comprehensive loss
$(398)$(749)$(964)$2,737 $(152)$415 
The components of net periodic benefit cost are included in other income (expense) on the Consolidated Statements of Operations. The components related to our participation in the nonqualified defined benefit plans for the years ended December 31, were as follows:
202520242023
(In thousands)
Components of net periodic benefit cost:
Interest cost$720 $714 $765 
Recognized net actuarial loss— — — 
Net periodic benefit cost$720 $714 $765 
Schedule of Defined Benefit Plan, Assumptions
Weighted average assumptions used to determine benefit obligations at December 31, were as follows:
Pension BenefitsOther Postretirement Benefits
2025202420252024
Discount rate5.21%5.40%5.32%5.44%
Expected return on plan assets6.00%6.00%—%—%
Rate of compensation increaseN/AN/A3.50%4.00%
Weighted average assumptions used to determine net periodic benefit cost for the years ended December 31, were as follows:
Pension BenefitsOther Postretirement Benefits
2025202420252024
Discount rate5.40%4.83%5.44%4.84%
Expected return on plan assets6.00%6.50%—%—%
Rate of compensation increaseN/AN/A4.00%4.00%
Schedule of Health Care Cost Trend Rates
Health care rate assumptions for our other postretirement benefit plans as of December 31, were as follows:
20252024
Health care trend rate assumed for next year9.5%8.5%
Health care cost trend rate – ultimate4.5%4.5%
Year in which ultimate trend rate achieved20362035
Schedule of Expected Benefit Payments
The following benefit payments, which reflect future service, as appropriate, at December 31, 2025, are as follows:
Years
Pension
Benefits
Other
Postretirement
Benefits
(In thousands)
2026$2,780 $795 
20272,720 978 
20282,660 1,152 
20292,630 1,235 
20302,570 1,366 
2031-203511,690 7,621 
The amount of future benefit payments for the unfunded, nonqualified defined benefit plans at December 31, 2025 are expected to aggregate as follows:
202620272028202920302031-2035
(In thousands)
Nonqualified benefits$1,690 $1,640 $1,680 $1,400 $1,160 $4,860 
Schedule of Allocation of Plan Assets
The fair value of our pension plans’ assets by class were as follows:
Fair Value Measurements at December 31, 2025, Using
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Balance at
December 31, 2025
(In thousands)
Assets:
Cash equivalents$423 $— $— $423 
Collective and mutual funds
28,636 1,321 — 29,957 
Total assets measured at fair value$29,059 $1,321 $— $30,380 
Fair Value Measurements at December 31, 2024, Using
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Balance at
December 31, 2024
(In thousands)
Assets:
Cash equivalents$— $297 $— $297 
Collective and mutual funds
28,374 1,672 — 30,046 
Money market funds— 32 — 32 
Total assets measured at fair value$28,374 $2,001 $— $30,375 
Schedule of Accumulated and Projected Benefit Obligations
The projected benefit obligation and accumulated benefit obligation for our participants in these plans at December 31, were as follows:
20252024
(In thousands)
Projected benefit obligation$13,747 $14,468 
Accumulated benefit obligation$13,747 $14,468 
Schedule of Weighted Average Assumptions
Weighted average assumptions used at December 31, were as follows:
20252024
Benefit obligation discount rate5.01%5.29%
Benefit obligation rate of compensation increaseN/AN/A
Net periodic benefit cost discount rate5.29%4.74%
Net periodic benefit cost rate of compensation increaseN/AN/A
Schedule of Investment
The amount of investments that we anticipate using to satisfy obligations under these plans at December 31, was as follows:
20252024
(In thousands)
Investments
Insurance contract1
$33,982 $28,377 
Life insurance2
7,642 7,484 
Other2,775 4,082 
Total investments$44,399 $39,943 
__________________
1For more information on the insurance contract, see Note 8.
2Investments of life insurance are carried on plan participants (payable upon the employee’s death).
Schedule of Multiemployer Plan
Our participation in these plans is outlined in the following table. Unless otherwise noted, the most recent Pension Protection Act zone status available in 2025, 2024 and 2023 is for the plan’s year-end at December 31, 2024, December 31, 2023 and December 31, 2022, respectively. The zone status is based on information that we
received from the plan and is certified by the plan’s actuary. Among other factors, plans in the “red zone,” or critical status, are generally less than 65 percent funded, plans in the “yellow zone,” or endangered status, are between 65 percent and 80 percent funded, and plans in the “green zone,” or healthy status, are at least 80 percent funded.
Pension Fund
EIN/Pension
Plan Number
Pension Protection
Act
Zone Status
FIP/RP Status
Pending/
Implemented
Contributions
Surcharge
Imposed
Expiration
Date
of Collective
Bargaining
Agreement
20252024202520242023
(In thousands)
DB Pension Plan of AGC-IUOE Local 701 Pension Trust Fund
936075580-001
Green
Green
No
1,434 1,225 1,295 
No
12/31/2025
Minnesota Teamsters Construction Division Pension Fund
416187751-001
GreenGreenNo412 367 418 No4/30/2027
Pension Trust Fund for Operating Engineers
946090764-001
GreenGreenNo3,004 2,746 2,476 No
3/31/2026-
6/30/2026
Western Conference of Teamsters Pension Plan
916145047-001
GreenGreenNo3,753 3,396 3,307 No
12/31/2023-
6/30/2026
*
Other funds
5,619 5,427 5,245 
Total contributions
$14,222 $13,161 $12,741 
__________________
*Plan includes contributions required by collective bargaining agreements which have expired but contain provisions automatically renewing their terms in the absence of a subsequent negotiated agreement.
We were listed in the plans’ Forms 5500 as providing more than 5 percent of the total contributions for the following plans and plan years:
Pension Fund
Year Contributions to Plan Exceeded More Than 5 Percent of
Total Contributions (as of December 31, of the Plan’s Year-End)
Minnesota Teamsters Construction Division Pension Fund2024 and 2023
DB Pension Plan of AGC-IUOE Local 701 Pension Trust Fund2023