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Employee benefit plans | 6 Months Ended
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Jun. 30, 2025
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 cost for the Company's pension benefit plans were as follows:
| Three Months Ended | Six Months Ended
| June 30, | June 30,
| 2025 | 2024 | 2025 | 2024
| (In thousands)
Components of net periodic benefit cost: |  |  |  |
Interest cost | $ | 3,303 |  | $ | 3,200 |  | $ | 6,606 |  | $ | 6,400 |
Expected return on assets | (3,645) |  | (4,028) |  | (7,290) |  | (8,056) |
Amortization of net actuarial loss | 1,194 |  | 1,037 |  | 2,387 |  | 2,074 |
Net periodic benefit cost | $ | 852 |  | $ | 209 |  | $ | 1,703 |  | $ | 418 |
Components of net periodic benefit credit for the Company's other postretirement benefit plans were as follows:
| Three Months Ended | Six Months Ended
| June 30, | June 30,
| 2025 | 2024 | 2025 | 2024
| (In thousands)
Components of net periodic benefit credit: |  |  |  |
Service cost | $ | 99 |  | $ | 126 |  | $ | 198 |  | $ | 252 |
Interest cost | 462 |  | 459 |  | 924 |  | 918 |
Expected return on assets | (1,292) |  | (1,329) |  | (2,584) |  | (2,658) |
Amortization of prior service credit | (289) |  | (330) |  | (579) |  | (660) |
Amortization of net actuarial gain | (80) |  | (72) |  | (160) |  | (144) |
Net periodic benefit credit, including amount capitalized | (1,100) |  | (1,146) |  | (2,201) |  | (2,292) |
Less amount capitalized | 18 |  | 47 |  | 36 |  | 69 |
Net periodic benefit credit | $ | (1,118) |  | $ | (1,193) |  | $ | (2,237) |  | $ | (2,361) |
The components of net periodic benefit cost (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 $716,000 and $733,000 for the three months ended June 30, 2025 and 2024, respectively, and $1.4 million and $1.5 million for the six months ended June 30, 2025 and 2024, 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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