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EMPLOYEE BENEFIT PLANS (Tables) | 12 Months Ended
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Dec. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] |
Schedule of Changes in Projected Benefit Obligations | The following tables set forth the change in the projected benefit obligation and plan assets and reconcile the funded status and the amounts recognized in the Consolidated Balance Sheets for the pension and postretirement benefit plans for the two years ended December 31:
| Pension |  | Postretirement
| 2024 |  | 2023 |  | 2024 |  | 2023
Change in Projected Benefit Obligation |  |  |  |  |  |  |
Projected benefit obligation at beginning of year | $63,142 |  |  | $70,062 |  |  | $1,491 |  |  | $1,421 |
Service cost | — |  |  | — |  |  | 3 |  |  | 4 |
Interest cost | 535 |  |  | 3,374 |  |  | 70 |  |  | 70 |
Actuarial (gain) loss | (5,046) |  |  | 4,356 |  |  | (145) |  |  | 10 |
Benefits paid | (742) |  |  | (3,924) |  |  | (15) |  |  | (14) |
Expenses paid | (10) |  |  | (653) |  |  | — |  |  | — |
Settlement | (57,879) |  |  | (10,073) |  |  | — |  |  | — |
Projected benefit obligation at end of year | — |  |  | $63,142 |  |  | $1,404 |  |  | $1,491 |
Funded Status at End of Year |  |  |  |  |  |  |
Net accrued benefit cost | — |  |  | ($8,392) |  |  | ($1,404) |  |  | ($1,491) |
Schedule of Changes in Fair Value of Plan Assets |
Change in Plan Assets |  |  |  |  |  |  |
Fair value of plan assets at beginning of year | $54,750 |  |  | $62,843 |  |  | — |  |  | — |
Actual return on plan assets | 603 |  |  | 6,356 |  |  | — |  |  | — |
Employer contributions | 3,441 |  |  | 201 |  |  | 15 |  |  | 14 |
Benefits paid | (742) |  |  | (3,924) |  |  | (15) |  |  | (14) |
Other expense | (173) |  |  | (653) |  |  | — |  |  | — |
Settlement | (57,879) |  |  | (10,073) |  |  | — |  |  | — |
Fair value of plan assets at end of year | — |  |  | $54,750 |  |  | — |  |  | — |
Schedule of Amounts Recognized in Balance Sheet |
Amounts Recognized in the Consolidated Balance Sheets Consist of: |  |  |  |  |  |  |
Current liabilities | — |  |  | ($8,392) |  |  | ($57) |  |  | ($52) |
Noncurrent liabilities | — |  |  | — |  |  | (1,347) |  |  | (1,439) |
Net amount recognized | — |  |  | ($8,392) |  |  | ($1,404) |  |  | ($1,491) |
Schedule of Projected Benefit Obligation and Accumulated Benefit Obligation in Excess of Fair Value | For pension and postretirement plans with accumulated benefit obligations in excess of plan assets, the following table sets forth the projected and accumulated benefit obligations and the fair value of plan assets for the two years ended December 31:
| 2024 |  | 2023
Projected benefit obligation | — |  |  | $63,142 |
Accumulated benefit obligation | — |  |  | 63,142 |
Accumulated postretirement benefit obligation | 1,404 |  |  | 1,491 |
Fair value of plan assets | — |  |  | 54,750 |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | Net gains or losses recognized in other comprehensive income (loss) for the three years ended December 31 are as follows:
| Pension |  | Postretirement
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Net gains (losses) | $5,106 |  |  | ($1,438) |  |  | $362 |  |  | $145 |  |  | ($11) |  |  | $512 |
Net gains or losses reclassified from other comprehensive income (loss) and recognized as a component of pension and postretirement expense for the three years ended December 31 are as follows:
| Pension |  | Postretirement
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Amortization of losses | $1 |  |  | $6 |  |  | $738 |  |  | — |  |  | — |  |  | $15 |
Net settlement loss | 5,816 |  |  | 2,036 |  |  | — |  |  | — |  |  | — |  |  | — |
Schedule of Net Periodic Benefit Cost Not yet Recognized | Net losses that have not yet been included in pension and postretirement expense for the two years ended December 31, but have been recognized as a component of AOCI are as follows:
| Pension |  | Postretirement
| 2024 |  | 2023 |  | 2024 |  | 2023
Net (losses) income | — |  |  | ($10,923) |  |  | $230 |  |  | $85 |
Deferred income tax benefit | — |  |  | 1,216 |  |  | — |  |  | 6 |
AOCI | — |  |  | ($9,707) |  |  | $230 |  |  | $91 |
Schedule of Net Benefit Costs | The following tables set forth the components of net pension and postretirement benefit cost (credit) that have been recognized during the three years ended December 31:
| Pension |  | Postretirement
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Components of Net Periodic Benefit Cost (Credit) |  |  |  |  |  |  |  |  |  |  |
Service cost | — |  |  | — |  |  | — |  |  | $3 |  |  | $4 |  |  | $7 |
Interest cost | 535 |  |  | 3,374 |  |  | 2,434 |  |  | 70 |  |  | 70 |  |  | 51 |
Expected return on plan assets | (542) |  |  | (3,439) |  |  | (3,486) |  |  | — |  |  | — |  |  | — |
Amortization of losses | 1 |  |  | 6 |  |  | 738 |  |  | — |  |  | — |  |  | 15 |
Settlement expense | 5,816 |  |  | 2,036 |  |  | — |  |  | — |  |  | — |  |  | — |
Net periodic benefit cost (credit) | $5,810 |  |  | $1,977 |  |  | ($314) |  |  | $73 |  |  | $74 |  |  | $73 |
Schedule of Assumptions Used | The following table sets forth the principal assumptions inherent in the determination of benefit obligations and net periodic benefit cost of the pension and postretirement benefit plans as of December 31:
| Pension |  | Postretirement
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Assumptions used to determine benefit obligations at December 31: |  |  |  |  |  |  |  |  |  |  |
Discount rate | N/A |  | 4.99 | % |  | 4.96 | % |  | 5.49 | % |  | 4.81 | % |  | 5.01 | %
Assumptions used to determine net periodic benefit cost for years ended December 31: |  |  |  |  |  |  |  |  |  |  |
Discount rate | 5.00% |  | 4.96 | % |  | 2.65 | % |  | 4.81 | % |  | 5.01 | % |  | 2.75 | %
Expected long-term return on plan assets | 4.97% |  | 4.97 | % |  | 4.97 | % |  | — |  |  | — |  |  | — |
Schedule of Allocation of Plan Assets | Our pension plans’ asset allocation (excluding short-term investments) at December 31, 2024 and 2023 are as follows:
| Percentage of Plan Assets |
Asset Category | 2024 |  | 2023
Domestic equity securities | — |  |  | 15 | % |
International equity securities | — |  |  | 9 | % |
Domestic fixed income securities | — |  |  | 75 | % |
Real estate fund | — |  |  | 1 | % |
Total (a) | — |  |  | 100 | % |
(a)As of December 31, 2024 all plan assets were distributed as part of the previously discussed plan settlements. The following table sets forth the net asset value of the plan assets as of December 31, 2024 or 2023:
Asset Category | December 31, 2024 |  | December 31, 2023
Investments at Net Asset Value: |  |  |
Separate Investment Accounts (a) | — |  |  | $54,750 |
Total Investments at Net Asset Value | — |  |  | $54,750 |
(a)As of December 31, 2024 all plan assets were distributed as part of the previously discussed plan settlements.
Schedule of Expected Benefit Payments | Our expected benefit payments to be made for the next 10 years are as follows:
| Pension Benefits |  | Postretirement Benefits
2025 | — |  |  | $57 |
2026 | — |  |  | 62 |
2027 | — |  |  | 67 |
2028 | — |  |  | 71 |
2029 | — |  |  | 76 |
2030-2034 | — |  |  | 440 |

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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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