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Retirement Benefit Obligations (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Disclosure of Sensitivity Analysis for Actuarial Assumptions
The following rates of increase in the cost of covered health care benefits was assumed:
Other Post-retirement Benefits
20242023
2023N/A6.0 %
20247.5 %5.5 %
20257.5 %5.3 %
20267.3 %4.8 %
20277.0 %4.5 %
20286.8 %4.5 %
20296.3 %4.5 %
20306.0 %4.5 %
20315.8 %4.5 %
20325.5 %4.5 %
20335.3 %4.5 %
20345.0 %4.5 %
20354.8 %4.5 %
2036 and thereafter4.5 %4.5 %
A one percentage point change in the assumed rate of increase in healthcare costs would have the following effects:
IncreaseDecrease
2024
Effect on the aggregate current service cost and interest cost$3 $(3)
Effect on other post-retirement benefit obligations$73 $(65)
2023
Effect on the aggregate current service cost and interest cost$3 $(3)
Effect on other post-retirement benefit obligations$72 $(64)
2022
Effect on the aggregate current service cost and interest cost$2 $(2)
Effect on other post-retirement benefit obligations$70 $(62)
A one percentage point change in the assumed discount rate would have the following effects:
    
IncreaseDecrease
2024
Effect on the aggregate current service cost and interest cost$6 $(7)
Effect on pension and other post-retirement benefit obligations$(686)$786 
2023
Effect on the aggregate current service cost and interest cost$6 $(7)
Effect on pension and other post-retirement benefit obligations$(782)$902 
2022
Effect on the aggregate current service cost and interest cost$9 $(11)
Effect on pension and other post-retirement benefit obligations$(809)$934 
Disclosure Of Retirement Benefit Obligations
Retirement benefit obligations at December 31, 2024 and 2023, consist of the following:
20242023
Non-qualified deferred compensation plan4,037 3,386 
Pension benefits(173)(207)
Other post-retirement benefits1,253 1,131 
Retirement benefit obligations5,117 4,310 
Disclosure of Defined Benefit Plan Information
Information about the Company’s defined benefit pension and other post-retirement benefit plans is presented below:
Other Post-retirement
Pension BenefitsBenefits
202420232022202420232022
Benefit obligations$9,361 $10,294 $10,594 $1,253 $1,131 $1,097 
Fair value of plan assets9,534 10,501 10,235 — — — 
Accrued (gain)/cost, December 31$(173)$(207)$359 $1,253 $1,131 $1,097 
Changes in the present value of the defined benefit obligations for the years ended December 31, 2024 and 2023 are as follows:
Other Post-retirement
Pension BenefitsBenefits
2024202320242023
Benefit obligations, January 1$10,294 $10,594 $1,131 $1,097 
Service cost— — 3 3 
Interest cost461 502 53 53 
Benefits paid(952)(860)(99)(72)
Actuarial (gain)/loss(442)58 119 50 
Other— — 46 — 
Benefit obligations, December 31$9,361 $10,294 $1,253 $1,131 
Discount rate used in computing ending obligations5.35 %4.84 %5.35 %4.84 %
Changes in the fair value of plan assets for the years ended December 31, 2024 and 2023 are as follows:
Other Post-retirement
Pension BenefitsBenefits
2024202320242023
Fair value of plan assets, January 1$10,501 $10,235 $— $— 
Return on plan assets72 1,405 — — 
Contributions— — 99 72 
Administrative expenses(87)(279)— — 
Benefits paid(952)(860)(99)(72)
Fair value of plan assets, $9,534 $10,501 $— $— 
Movements in the net pension and other post-retirement benefit liabilities during the years ended 2024, 2023 and 2022 are as follows:
Other Post-retirement
Pension BenefitsBenefits
202420232022202420232022
Accrued cost, January 1$(207)$359 $417 $1,131 $1,097 $1,405 
Expense recognized in the income statement71 290 174 56 56 39 
Amount recognized as other comprehensive (income)/loss(37)(856)(232)119 50 (306)
Contributions— — — (99)(72)(41)
Other— — — 46 — — 
Accrued (gain)/loss, December 31$(173)$(207)$359 $1,253 $1,131 $1,097 
The components of net periodic pension and other post-retirement benefit costs for the years ended December 31, 2024, 2023, and 2022 are as follows:
                                                                                                   
Other Post-retirement
Pension BenefitsBenefits
202420232022202420232022
Service cost$— $— $— $3 $3 $4 
Administrative expenses87 279 170 — — — 
Net interest cost(16)11 4 53 53 35 
Net periodic pension expense71 290 174 56 56 39 
Other comprehensive (income)/loss(37)(856)(232)119 50 (306)
Total comprehensive (income)/loss$34 $(566)$(58)$175 $106 $(267)
The amounts recorded in other comprehensive (income)/loss for the years ended December 31, 2024, 2023, and 2022 are as follows:
202420232022
Cost of goods sold$90 $282 $174 
Finance cost37 64 39 
Net periodic expense127 346 213 
Other comprehensive (income)82 (806)(538)
Comprehensive (income)/loss$209 $(460)$(325)
The components of actuarial (gains)/losses included in other comprehensive (income)/loss for the years ended December 31, 2024, 2023, and 2022 are as follows:
202420232022
Asset loss/(gain)$404 $(914)$2,503 
Demographic (gain)/loss(23)(160)(243)
Assumption (gain)/loss(299)268 (2,798)
Total actuarial loss/(gain)$82 $(806)$(538)
Schedule Of Expected Future Benefit Payments
The estimated future benefit payments at December 31, 2024, 2023 and 2022 are as follows:
Other Post-retirement
Pension BenefitsBenefits
202420232022202420232022
Year 1$1,368 $1,368 $956 $135 $113 $103 
Year 2888 919 948 101 102 108 
Year 3861 896 926 108 99 111 
Year 4825 869 904 112 101 92 
Year 5796 833 877 107 96 94 
Years 6-103,540 3,736 3,924 462 405 409 
Years 10+6,489 7,189 7,917 733 688 715 
$14,767 $15,810 $16,452 $1,758 $1,604 $1,632