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v3.23.1

Employee benefit plans | 3 Months Ended
--- | ---
Mar. 31, 2023
Retirement Benefits [Abstract] |
Employee benefit plans | Employee benefit plans Pension and other postretirement plans The Company has noncontributory qualified defined benefit pension plans and other postretirement benefit plans for certain eligible employees. Components of net periodic benefit credit for the Company's pension benefit plans were as follows:
| Three Months Ended |
| March 31, |
| 2023 | 2022 |  |
| (In thousands)
Components of net periodic benefit credit: |  |  |  |
Interest cost | $ | 3,789 |  | $ | 2,631 |  |  |
Expected return on assets | (4,749) |  | (4,864) |  |  |
Amortization of net actuarial loss | 901 |  | 1,671 |  |  |
Net periodic benefit credit | $ | (59) |  | $ | (562) |  |  |
Components of net periodic benefit credit for the Company's other postretirement benefit plans were as follows:
| Three Months Ended |
| March 31, |
| 2023 | 2022 |  |
| (In thousands)
Components of net periodic benefit credit: |  |  |  |
Service cost | $ | 227 |  | $ | 354 |  |  |
Interest cost | 670 |  | 474 |  |  |
Expected return on assets | (1,341) |  | (1,322) |  |  |
Amortization of prior service credit | (350) |  | (350) |  |  |
Amortization of net actuarial gain | (213) |  | (54) |  |  |
Net periodic benefit credit, including amount capitalized | (1,007) |  | (898) |  |  |
Less amount capitalized | 24 |  | 31 |  |  |
Net periodic benefit credit | $ | (1,031) |  | $ | (929) |  |  |
The components of net periodic benefit credit, other than the service cost component, are included in other income on the Consolidated Statements of Income. The service cost component is included in operation and maintenance expense on the Consolidated Statements of Income. Nonqualified defined benefit plans In addition to the qualified defined benefit pension plans reflected in the table at the beginning of this note, the Company also has unfunded, nonqualified defined benefit plans for executive officers and certain key management employees. The Company's net periodic benefit cost for these plans was $936,000 and $773,000 for the three months ended March 31, 2023 and 2022, respectively. The components of net periodic benefit cost for these plans are included in other income on the Consolidated Statements of Income.

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