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Pension Plans and Other Postretirement Benefit Plans (Tables)

9 Months Ended

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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- References

No definition available.

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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

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