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Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2024

Retirement Benefits [Abstract]

Components of Company Plan Benefit Expense

The following table summarizes key information related to the Company’s pension plans and retirement agreements (in thousands):

		Six Months Ended June 30, 2024				Year Ended December 31, 2023
Change in Projected Benefit Obligation
Projected benefit obligation, beginning of period		$	27,790			$	26,207
Service cost			326				745
Interest cost			682				1,345
Actuarial gain			—				421
Benefits paid			(502	)			(928	)
Projected benefit obligation, end of period		$	28,296			$	27,790
Change in Plan Assets
Plan assets at fair value, beginning of period		$	—			$	—
Company contributions			502				928
Benefits paid			(502	)			(928	)
Plan assets at fair value, end of period		$	—			$	—
Unfunded Status of the Plan		$	28,296			$	27,790

Components of Net Periodic Benefit Cost

		Three Months Ended								Six Months Ended
		June 30, 2024				June 30, 2023				June 30, 2024				June 30, 2023
Components of Net Periodic Benefit Cost
Service cost		$	163			$	186			$	326			$	373
Interest cost			341				336				682				673
Net loss			15				-				30				-
Net periodic benefit cost		$	519			$	522			$	1,038			$	1,046

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- References

No definition available.

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- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 20
-Topic 715
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

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-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 715
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-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 715
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-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-4

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-2

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Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

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-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

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