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Pension Plans and Other Postretirement Benefit Plans (Tables)
3 Months Ended
Mar. 31, 2024
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 months ended March 31 (dollars in thousands):

 

 

Pension Benefits

 

 

Other Postretirement Benefits

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Service cost

 

$

3,762

 

 

$

4,894

 

 

$

620

 

 

$

818

 

Interest cost

 

 

8,365

 

 

 

7,232

 

 

 

1,746

 

 

 

1,044

 

Expected return on plan assets

 

 

(11,228

)

 

 

(10,922

)

 

 

(974

)

 

 

(891

)

Amortization of prior service cost (credit)

 

 

123

 

 

 

123

 

 

 

(263

)

 

 

(263

)

Net loss recognition

 

 

790

 

 

 

839

 

 

 

91

 

 

 

533

 

Net periodic benefit cost

 

$

1,812

 

 

$

2,166

 

 

$

1,220

 

 

$

1,241