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Pension and Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2024

Retirement Benefits [Abstract]

Schedule of Changes in Projected Benefit Obligations

The following tables set forth the plan changes in benefit obligations, plan assets and funded status on the measurement dates:

		December 31,
(table only in thousands)		2024				2023				2022
Change in projected benefit obligation:
Projected benefit obligation at beginning of year		$	26,760			$	27,350			$	35,035
Interest cost			1,215				1,274				877
Actuarial (gain) loss			(1,237	)			183				(6,540	)
Benefits paid			(2,073	)			(2,047	)			(2,022	)
Projected benefit obligation at end of year			24,665				26,760				27,350
Change in plan assets:
Fair value of plan assets at beginning of year			22,646				21,821				29,474
Actual return on plan assets			3,236				2,872				(5,631	)
Employer contributions			1,335				—				—
Benefits paid			(2,073	)			(2,047	)			(2,022	)
Fair value of plan assets at end of year			25,144				22,646				21,821
Funded status at end of year		$	479			$	(4,114	)		$	(5,529	)
Weighted-average assumptions used to determine benefit obligations for the year ended December 31:
Discount rate			5.35	%			4.70	%			4.90	%

Schedule of Net Periodic Benefit Cost for Pension Benefits

The details of net periodic benefit cost for pension benefits included in the accompanying Consolidated Statements of Income are as follows:

		December 31,
(table only in thousands)		2024				2023				2022
Interest cost		$	1,215			$	1,274			$	877
Expected return on plan assets			(1,223	)			(1,142	)			(1,560	)
Amortization of net loss			226				297				263
Net periodic benefit income (expense)		$	218			$	429			$	(420	)

Schedule of Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income

Other changes in plan assets and benefit obligations recognized in other comprehensive income are as follows:

		December 31,
(table only in thousands)		2024				2023				2022
Net (gain) loss		$	(3,249	)		$	(1,548	)		$	651
Amortization of net actuarial loss			(226	)			(297	)			(263	)
Total recognized in other comprehensive income (loss)		$	(3,475	)		$	(1,845	)		$	388
Total recognized in net periodic benefit cost and other comprehensive income (loss)		$	(3,257	)		$	(1,416	)		$	(32	)

Weighted-average Assumptions Used to Determine Net Periodic Benefit Cost

Weighted-average assumptions used to determine net periodic benefit costs are as follows:

		December 31,
		2024		2023		2022
Discount Rate		4.70%		4.90%		2.55%
Expected return on assets		5.50%		5.50%		5.50%

Details of Defined Benefit Pension Plan Asset Allocation by Asset Category

The Company's defined benefit pension plan asset allocation by asset category is as follows:

		Target Allocation		Percentage of Plan Assets
		2024		2024		2023
Asset Category:
Cash and cash equivalents		0%		1%		1%
Equity securities		70%		74%		76%
Debt securities		30%		25%		23%
Total		100%		100%		100%

Disclosure of Fair Value Measurements of Pension Plan Assets

The levels assigned to the defined benefit plan assets as of December 31, 2024, are summarized in the tables below:

(table only in thousands)		Level 1				Level 2				Level 3				Total
Pension assets, at fair value:
Cash and cash equivalents		$	198			$	—			$	—			$	198
Equity securities			18,622				—				—				18,622
Debt securities			6,324				—				—				6,324
Total assets		$	25,144			$	—			$	—			$	25,144

The levels assigned to the defined benefit plan assets as of December 31, 2023, are summarized in the tables below:

(table only in thousands)		Level 1				Level 2				Level 3				Total
Pension assets, at fair value:
Cash and cash equivalents		$	311			$	—			$	—			$	311
Equity securities			17,233				—				—				17,233
Debt securities			5,102				—				—				5,102
Total assets		$	22,646			$	—			$	—			$	22,646

Summary of Pension Fund General Information

The Company’s participation in these plans for the year ended December 31, 2024, is outlined in the table below. The “EIN/Pension Plan Number” column provides the Employer Identification Number and the three-digit plan number, if applicable. Unless otherwise noted, the most recent Pension Protection Act zone status available in 2024 is for the plan’s year-end at December 31, 2023. The zone status is based on information that the Company received from the plan and is certified by the plan’s actuary. Among other factors, plans in the red zone are generally less than 65% funded, plans in the yellow zone are less than 80% funded, and plans in the green zone are at least 80% funded. The “FIP/RP Status Pending/Implemented” column indicates plans for which a financial improvement plan (FIP) or a rehabilitation plan (RP) is either pending or has been implemented. The last column lists the expiration date(s) of the collective-bargaining agreement(s) to which the plans are subject.

Pension Fund		EIN/Pension Plan Number		Pension Protection Act Zone Status 2012		FIF/RP Status Pending/Implemented		Surcharge Imposed		Expiration of Collective Bargaining Agreement
Sheet Metal Workers’ National Pension Fund		52-6112463/001		Green		FIF: Yes - Implemented  RP: Yes - Implemented		No		Various
Sheet Metal Workers Local 224 Pension Plan		31-6171353/001		Yellow		FIF: Yes - Implemented		No		n/a
Sheet Metal Workers Local No. 177 Pension Fund		62-6093256/001		Green		Is not subject		No		April 30, 2026

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