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Pension and other post-retirement benefits (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of Benefit Obligations Fair Value of Plan Assets and Funded Status

The following table sets forth the projected benefit obligations, fair value of plan assets, and funded status of the Company’s plans as of December 31:

			Pension benefits												OPEB
			2022						2021						2022						2021
Change in projected benefit obligation
Projected benefit obligation, beginning of year			$	765,618					$	834,913					$	292,646					$	306,524
Projected benefit obligation assumed from business combination			87,933						—						5,195						—
Plan Settlements			(112)						(1,294)						—						—
Service cost			16,309						14,673						6,277						7,307
Interest cost			24,787						20,676						9,146						8,048
Actuarial gain			(198,074)						(36,597)						(82,991)						(18,977)
Contributions from retirees			—						—						2,220						2,040
Plan amendments			—						237						(2,452)						310
Medicare Part D			—						—						367						373
Benefits paid			(68,197)						(66,800)						(13,078)						(12,979)
Foreign exchange			(129)						(190)						—						—
Projected benefit obligation, end of year			$	628,135					$	765,618					$	217,330					$	292,646
Change in plan assets
Fair value of plan assets, beginning of year			648,864						629,157						192,375						176,616
Plan assets acquired in business combination			74,532						—						8,577						—
Actual return on plan assets			(109,118)						58,721						(30,105)						15,200
Employer contributions			23,296						29,058						11,811						11,178
Plan Settlements			(112)						(1,294)						—						—
Contributions from retirees			—						—						2,220						1,988
Medicare Part D subsidy receipts			—						—						367						372
Benefits paid			(68,197)						(66,800)						(13,078)						(12,979)
Foreign exchange			(10)						22						—						—
Fair value of plan assets, end of year			$	569,255					$	648,864					$	172,167					$	192,375
Unfunded status			$	(58,880)					$	(116,754)					$	(45,163)					$	(100,271)
Amounts recognized in the consolidated balance sheets consist of:
Non-current assets (note 11)			12,264						11,751						14,218						11,879
Current liabilities			(1,907)						(1,902)						(3,039)						(699)
Non-current liabilities			(69,237)						(126,603)						(56,342)						(111,451)
Net amount recognized			$	(58,880)					$	(116,754)					$	(45,163)					$	(100,271)

Information for pension and OPEB plans with an accumulated benefit obligation in excess of plan assets:

			Pension												OPEB
			2022						2021						2022						2021
Accumulated benefit obligation			$	413,041					$	489,043					$	198,463					$	274,649
Fair value of plan assets			$	364,229					$	396,679					$	139,368					$	162,592

Information for pension and OPEB plans with a projected benefit obligation in excess of plan assets:

			Pension												OPEB
			2022						2021						2022						2021
Projected benefit obligation			$	489,140					$	580,841					$	198,463					$	274,649
Fair value of plan assets			$	417,994					$	452,333					$	139,368					$	162,592

Schedule of Amounts Recognized in Other Comprehensive Loss

Pension and post-employment actuarial changes

Change in AOCI, before tax			Pension												OPEB
			Actuarial losses (gains)						Past service gains						Actuarial losses (gains)						Past service losses (gains)
Balance, January 1, 2021			$	57,231					$	(5,306)					$	(4,299)					$	—
Additions to AOCI			(59,754)						237						(24,126)						(24)
Amortization in current period			(13,130)						1,626						(2,021)						334
Amortization due to plan settlements			(210)						—						—						—
Reclassification to regulatory accounts			31,670						(752)						14,816						—
Balance, December 31, 2021			$	15,807					$	(4,195)					$	(15,630)					$	310
Additions to AOCI			(47,473)						—						(41,527)						(24)
Amortization in current period			(3,429)						1,584						56						(2,476)
Amortization due to plan settlements			15						—						—						—
Reclassification to regulatory accounts			34,409						(752)						23,551						—
Balance, December 31, 2022			$	(671)					$	(3,363)					$	(33,550)					$	(2,190)

Schedule of Weighted Average Assumptions Used to Determine Net Benefit Obligation

Weighted average assumptions used to determine net benefit obligation for 2022 and 2021 were as follows: 

			Pension benefits												OPEB
			2022						2021						2022						2021
Discount rate			5.48		%				2.94		%				5.49		%				3.00		%
Interest crediting rate (for cash balance plans)			4.50		%				4.00		%				N/A						N/A
Rate of compensation increase			3.70		%				4.00		%				N/A						N/A
Health care cost trend rate
Before age 65															6.00		%				5.88		%
Age 65 and after															6.00		%				5.88		%
Assumed ultimate medical inflation rate															4.75		%				4.75		%
Year in which ultimate rate is reached															2033						2031

Schedule of Weighted Average Assumptions Used to Determine Net Benefit Cost

Weighted average assumptions used to determine net benefit cost for 2022 and 2021 were as follows: 

			Pension benefits												OPEB
			2022						2021						2022						2021
Discount rate			2.94		%				2.49		%				3.00		%				2.58		%
Expected return on assets			6.19		%				6.20		%				6.48		%				4.79		%
Rate of compensation increase			3.91		%				3.99		%				n/a						n/a
Health care cost trend rate
Before Age 65															5.88		%				5.12		%
Age 65 and after															5.88		%				5.12		%
Assumed ultimate medical inflation rate															4.75		%				4.05		%
Year in which ultimate rate is reached															2031						2031

Components of Net Benefit Costs For Pension Plans and OPEB Recorded as Part of Administrative Expenses

The following table lists the components of net benefit cost for the pension and OPEB plans. Service cost is recorded as part of operating expenses and non-service costs are recorded as part of other net losses in the consolidated statements of operations. The employee benefit costs related to businesses acquired are recorded in the consolidated statements of operations from the date of acquisition.

			Pension benefits												OPEB
			2022						2021						2022						2021
Service cost			$	16,309					$	14,673					$	6,277					$	7,307
Non-service costs
Interest cost			24,787						20,676						9,146						8,048
Expected return on plan assets			(41,226)						(35,972)						(11,359)						(10,052)
Amortization of net actuarial loss			3,452						13,126						(56)						2,021
Amortization of prior service credits			(1,584)						(1,626)						24						11
Amortization due to plan settlements			(15)						198						—						—
Amortization of regulatory accounts			22,951						19,665						4,829						218
			$	8,365					$	16,067					$	2,584					$	246
Net benefit cost			$	24,674					$	30,740					$	8,861					$	7,553

Schedule of Target Asset Allocation

The Company’s target asset allocation is as follows:

Asset class						Target (%)						Range (%)
Equity securities						41		%				30% -100%
Debt securities						49		%				20% - 60%
Other						10		%				0% - 20%
						100		%

The fair values of investments as of December 31, 2022, by asset category, are as follows:

Asset class												2022						Percentage
Equity securities												$	317,088					43		%
Debt securities												356,654						48		%
Other												67,680						9		%
												$	741,422					100		%

Schedule of Changes in Fair Value of Plan Assets

The following table summarizes the changes fair value of these level 3 assets as of December 31:

												Level 3
Balance, January 1, 2022												$	17,314
Contributions into funds												4,781
Return on assets												2,094
Distributions												(2,285)
Balance, December 31, 2022												$	21,904

Schedule of Expected Benefit Payments

The expected benefit payments over the next ten years are as follows: 

			2023						2024						2025						2026						2027						2028-2032
Pension plan			$	48,174					$	47,428					$	49,794					$	50,585					$	50,433					$	259,082
OPEB			$	11,483					$	12,025					$	12,548					$	12,925					$	13,479					$	72,684

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