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Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2023
Retirement Benefits [Abstract] |
Schedule of Allocation of Plan Assets | The following tables summarize the fair values of the Rabbi Trust investment assets to fund CWC’s SERP by major categories as of December 31, 2023 and 2022:
|  |  |  | Fair Value Measurements at December 31, 2023
Asset Category |  | Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Money market funds |  | $ | 71 |  |  | 71 |  |  | — |  |  | — |
Mutual funds |  | 2,053 |  |  | 2,053 |  |  | — |  |  | — |
Fixed income |  | 709 |  |  | 709 |  |  | — |  |  | — |
Total |  | $ | 2,833 |  |  | 2,833 |  |  | — |  |  | — |
|  |  |  | Fair Value Measurements at December 31, 2022
Asset Category |  | Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Money market funds |  | $ | 49 |  |  | 49 |  |  | — |  |  | — |
Mutual funds |  | 2,032 |  |  | 2,032 |  |  | — |  |  | — |
Fixed income |  | 728 |  |  | 728 |  |  | — |  |  | — |
Total |  | $ | 2,809 |  |  | 2,809 |  |  | — |  |  | — |
Plan assets as of December 31 were as follows:
| Pension Benefits |  | Other Postretirement Benefits
| 2023 |  | 2022 |  | 2023 |  | 2022
Fair value of assets at end of year: |  |  |  |  |  |  |
Debt securities | $ | 101,498 |  |  | 90,914 |  |  | $ | 5,596 |  |  | 5,330 |
| 36 | % |  | 36 | % |  | 26 | % |  | 30 | %
Equity securities | 174,155 |  |  | 147,864 |  |  | 14,424 |  |  | 11,711 |
| 61 | % |  | 59 | % |  | 68 | % |  | 65 | %
Cash and equivalents | 9,851 |  |  | 13,182 |  |  | 1,187 |  |  | 911 |
| 3 | % |  | 5 | % |  | 6 | % |  | 5 | %
Total | $ | 285,504 |  |  | 251,960 |  |  | $ | 21,207 |  |  | 17,952 |
The following tables summarize the fair values of plan assets by major categories as of December 31, 2023 and 2022:
|  |  | Fair Value Measurements at December 31, 2023
Asset Category | Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Cash and cash equivalents | $ | 11,038 |  |  | 11,038 |  |  | — |  |  | — |
Equity securities (a) | 188,579 |  |  | 188,579 |  |  | — |  |  | — |
Fixed Income (b) | 107,094 |  |  | 39,048 |  |  | 68,046 |  |  | — |
Total | $ | 306,711 |  |  | 238,665 |  |  | 68,046 |  |  | — |
___________________________________ (a)Actively managed portfolio of equity securities with the goal to exceed the benchmark performance. (b)Actively managed portfolio of fixed income securities with the goal to exceed the benchmark performance
|  |  | Fair Value Measurements at December 31, 2022
Asset Category | Total |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Cash and cash equivalents | $ | 14,093 |  |  | 14,093 |  |  | — |  |  | — |
Equity securities | 159,575 |  |  | 159,575 |  |  | — |  |  | — |
Fixed Income | 96,244 |  |  | 30,863 |  |  | 65,381 |  |  | — |
Total | $ | 269,912 |  |  | 204,531 |  |  | 65,381 |  |  | — |
Schedule of Assumptions Used | Net periodic cost for the defined benefit plans and other postretirement benefits was calculated using the following assumptions:
| Pension Benefits |  | Other Postretirement Benefits
| 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021
| % |  | % |  | % |  | % |  | % |  | %
Discount rate | 4.95 - 5.24 |  | 2.65 - 2.82 |  | 2.29 - 2.48 |  | 4.96 - 5.21 |  | 2.61 - 2.76 |  | 2.18 - 2.41
Expected return on plan assets | 6.00, 6.75 |  | 6.50, 6.75 |  | 6.50, 6.75 |  | 4.20, 6.00 |  | 4.20, 6.00 |  | 4.20, 6.50
Rate of compensation increase | 4.50, 5.00 |  | 4.00, 4.50 |  | 4.00 |  | N/A |  | N/A |  | N/A
Benefit obligations for the defined benefit plans and other postretirement benefits were calculated using the following weighted-average assumptions as of December 31:
| Pension Benefits |  | Other Postretirement Benefits
| 2023 |  | 2022 |  | 2023 |  | 2022
| % |  | % |  | % |  | %
Discount rate | 4.99 - 5.03 |  | 4.95 - 5.24 |  | 4.95 - 5.01 |  | 4.96 - 5.21
Rate of compensation increase | 4.50, 5.00 |  | 4.50 - 5.00 |  | N/A |  | N/A
Schedule of Net Benefit Costs | Net periodic costs for the defined benefit plans and other postretirement benefits for the years ended December 31 was as follows:
| Pension Benefits |  | Other Postretirement Benefits
| 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021
Components of net periodic benefit cost |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | 7,569 |  |  | 9,359 |  |  | 9,730 |  |  | $ | 638 |  |  | 1,032 |  |  | 1,115 |
Interest cost | 14,234 |  |  | 10,708 |  |  | 9,415 |  |  | 1,268 |  |  | 883 |  |  | 806 |
Expected return on assets | (15,440) |  |  | (18,841) |  |  | (18,019) |  |  | (860) |  |  | (1,047) |  |  | (970) |
Amortization of prior service cost | 15 |  |  | 17 |  |  | 41 |  |  | — |  |  | — |  |  | — |
Amortization of actuarial loss (gain) | 2,210 |  |  | 4,620 |  |  | 6,901 |  |  | (350) |  |  | (115) |  |  | 257 |
Recognition of significant event | — |  |  | (1,595) |  |  | — |  |  | — |  |  | — |  |  | — |
Net periodic benefit cost | $ | 8,588 |  |  | 4,268 |  |  | 8,068 |  |  | $ | 696 |  |  | 753 |  |  | 1,208 |
Schedule of Net Funded Status | The projected benefit obligations and the funded status of the defined benefit pension and other postretirement plans as of December 31 were as follows:
| Pension Benefits |  | Other Postretirement Benefits
| 2023 |  | 2022 |  | 2023 |  | 2022
Change in benefit obligation |  |  |  |  |  |  |
Benefit obligation at beginning of year | $ | 289,123 |  |  | 383,838 |  |  | $ | 25,830 |  |  | 34,412 |
Service cost | 7,569 |  |  | 9,359 |  |  | 638 |  |  | 1,032 |
Interest cost | 14,234 |  |  | 10,708 |  |  | 1,268 |  |  | 883 |
Actuarial loss/(gain) | 5,794 |  |  | (94,793) |  |  | (2,645) |  |  | (9,360) |
Implicit rate subsidy | — |  |  | — |  |  | (237) |  |  | (236) |
Plan participants contributions | — |  |  | — |  |  | 179 |  |  | 207 |
Administrative expenses paid | (137) |  |  | (136) |  |  | — |  |  | — |
Benefits paid and settlements | (18,749) |  |  | (19,853) |  |  | (769) |  |  | (1,108) |
Benefit obligation at end of year | $ | 297,834 |  |  | 289,123 |  |  | $ | 24,264 |  |  | 25,830 |
Change in plan assets |  |  |  |  |  |  |
Fair value of assets at beginning of year | $ | 251,960 |  |  | 310,176 |  |  | $ | 17,952 |  |  | 21,767 |
Actual return on plan assets | 41,285 |  |  | (49,939) |  |  | 3,136 |  |  | (3,606) |
Employer contributions | 11,145 |  |  | 11,712 |  |  | 920 |  |  | 626 |
Plan participants contributions | — |  |  | — |  |  | 179 |  |  | 207 |
Administrative expenses paid | (137) |  |  | (136) |  |  | (67) |  |  | (65) |
Benefits paid and settlements | (18,749) |  |  | (19,853) |  |  | (913) |  |  | (977) |
Fair value of plan assets at end of year | 285,504 |  |  | 251,960 |  |  | 21,207 |  |  | 17,952 |
Funded status at end of year | $ | (12,330) |  |  | (37,163) |  |  | $ | (3,057) |  |  | (7,878) |
Schedule of Amounts Recognized in Balance Sheet | The amounts recognized on the balance sheet as of December 31 were as follows:
| Pension Benefits |  | Other Postretirement Benefits
| 2023 |  | 2022 |  | 2023 |  | 2022
Noncurrent assets | $ | 30,671 |  |  | 16,005 |  |  | $ | 3,123 |  |  | 679 |
Current liabilities | (2,365) |  |  | (2,089) |  |  | (113) |  |  | (139) |
Noncurrent liabilities | (40,636) |  |  | (51,079) |  |  | (6,067) |  |  | (8,418) |
| $ | (12,330) |  |  | (37,163) |  |  | $ | (3,057) |  |  | (7,878) |
Schedule of Accumulated and Projected Benefit Obligations | The following table provides selected information about plans with projected benefit obligation and accumulated benefit obligation in excess of plan assets as of December 31:
| 2023 |  | 2022
Pension Benefits: |  |  |
Plans with projected benefit obligation in excess of plan assets: |  |  |
Projected benefit obligation | $ | 43,001 |  |  | 217,358 |
Fair value of plan assets | — |  |  | 169,077 |
Plans with accumulated benefit obligation in excess of plan assets: |  |  |
Accumulated benefit obligation | 39,652 |  |  | 35,813 |
Fair value of plan assets | — |  |  | — |
Other Postretirement Benefits: |  |  |
Plans with accumulated benefit obligation in excess of plan assets: |  |  |
Accumulated benefit obligation | 15,580 |  |  | 16,411 |
Fair value of plan assets | 9,401 |  |  | 7,853 |
Schedule of Expected Benefit Payments | Benefits expected to be paid in the next five years and in the aggregate for the five years thereafter are:
| Pension Plans |  | Other Postretirement Benefit Plans
2024 | $ | 16,727 |  |  | $ | 1,461 |
2025 | 17,455 |  |  | 1,549 |
2026 | 22,753 |  |  | 1,619 |
2027 | 18,977 |  |  | 1,691 |
2028 | 19,121 |  |  | 1,647 |
2029 - 2033 | 104,931 |  |  | 8,580 |

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