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Pension Plans and Other Postretirement Benefit Plans (Tables) | 9 Months Ended
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Sep. 30, 2023
Retirement Benefits, Description [Abstract] |
Components of Net Periodic Benefit Cost | The Company uses a December 31 measurement date for its defined benefit pension and other postretirement benefit plans. The following table sets forth the components of net periodic benefit costs for the three and nine months ended September 30 (dollars in thousands):
|  | Pension Benefits |  |  | Other Postretirement Benefits |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Three months ended September 30: |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 3,098 |  |  | $ | 5,914 |  |  | $ | 559 |  |  | $ | 1,095 |
Interest cost |  |  | 8,524 |  |  |  | 6,578 |  |  |  | 1,872 |  |  |  | 1,343 |
Expected return on plan assets |  |  | (10,922 | ) |  |  | (10,950 | ) |  |  | (891 | ) |  |  | (700 | )
Amortization of prior service cost (credit) |  |  | 123 |  |  |  | 75 |  |  |  | (263 | ) |  |  | (275 | )
Net loss (gain) recognition |  |  | 1,184 |  |  |  | 997 |  |  |  | (54 | ) |  |  | 826 |
Net periodic benefit cost |  | $ | 2,007 |  |  | $ | 2,614 |  |  | $ | 1,223 |  |  | $ | 2,289 |
Nine months ended September 30: |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 11,092 |  |  | $ | 17,914 |  |  | $ | 1,909 |  |  | $ | 3,255 |
Interest cost |  |  | 24,277 |  |  |  | 20,005 |  |  |  | 4,825 |  |  |  | 4,167 |
Expected return on plan assets |  |  | (32,766 | ) |  |  | (32,851 | ) |  |  | (2,673 | ) |  |  | (2,100 | )
Amortization of prior service cost (credit) |  |  | 369 |  |  |  | 225 |  |  |  | (789 | ) |  |  | (825 | )
Net loss recognition |  |  | 3,208 |  |  |  | 3,084 |  |  |  | 471 |  |  |  | 2,586 |
Net periodic benefit cost |  | $ | 6,180 |  |  | $ | 8,377 |  |  | $ | 3,743 |  |  | $ | 7,083 |

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- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (j) -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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