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Employee Benefit Plans | 12 Months Ended
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Dec. 31, 2025
Retirement Benefits [Abstract] |
Employee Benefit Plans | Employee Benefit Plans The Company provides a wide range of benefits to existing employees, including a defined contribution plan and health and welfare benefits, as well as post-employment benefits to qualified retired employees. The Company does not pre-fund post-employment health care plans and has the right to modify or terminate certain of these plans in the future. Certain groups of retirees pay a portion of the post-employment benefit costs. Benefit Obligations, Plan Assets and Funded Status of the Plans: The measurement date for the Company’s benefit plan disclosures is December 31 of each year. The status of the unfunded accumulated post-retirement benefit plans as of December 31, 2025 and 2024, and are shown below (in thousands):
|  |  |  | Other Post-retirement Benefits |  | Non-qualified Plan Benefits
|  |  |  |  |  | 2025 |  | 2024 |  | 2025 |  | 2024
Change in Benefit Obligation |  |  |  |  |  |  |  |  |  |  |  |
Benefit obligation at beginning of year |  |  |  |  |  | $ | 7,105 |  |  | $ | 7,847 |  |  | $ | 477 |  |  | $ | 2,125 |
Service cost |  |  |  |  |  | 18 |  |  | 29 |  |  | — |  |  | — |
Interest cost |  |  |  |  |  | 383 |  |  | 386 |  |  | 27 |  |  | 26 |
Plan participants’ contributions |  |  |  |  |  | 530 |  |  | 569 |  |  | — |  |  | — |
Actuarial (gain) loss |  |  |  |  |  | 321 |  |  | (533) |  |  | 44 |  |  | (19) |
Benefits paid |  |  |  |  |  | (1,148) |  |  | (1,193) |  |  | — |  |  | — |
Settlement |  |  |  |  |  | — |  |  | — |  |  | — |  |  | (1,655) |
Benefit obligation at end of year |  |  |  |  |  | $ | 7,209 |  |  | $ | 7,105 |  |  | $ | 548 |  |  | $ | 477 |
Change in Plan Assets |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year |  |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Employer contributions |  |  |  |  |  | 618 |  |  | 624 |  |  | — |  |  | 1,655 |
Participant contributions |  |  |  |  |  | 530 |  |  | 569 |  |  | — |  |  | — |
Benefits paid |  |  |  |  |  | (1,148) |  |  | (1,193) |  |  | — |  |  | — |
Settlement |  |  |  |  |  | — |  |  | — |  |  | — |  |  | (1,655) |
Fair value of plan assets at end of year |  |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Funded Status (Recognized Liability 1) |  |  |  |  |  | $ | (7,209) |  |  | $ | (7,105) |  |  | $ | (548) |  |  | $ | (477) |
1 Presented as Accrued post-retirement benefits in the accompanying consolidated balance sheets as of December 31, 2025 and 2024.
Estimated Benefit Payments: The estimated future benefit payments for the next ten years are as follows (in thousands):
|  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | 2030 |  | 2031-2035
Estimated Benefit Payments |  |  |  |  |  |  |  |  |  |  |  |
Post-retirement Benefits |  | $ | 585 |  |  | $ | 573 |  |  | $ | 562 |  |  | $ | 554 |  |  | $ | 549 |  |  | $ | 2,500 |
Non-qualified Plan Benefits |  | 491 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 106 |
Total |  | $ | 1,076 |  |  | $ | 573 |  |  | $ | 562 |  |  | $ | 554 |  |  | $ | 549 |  |  | $ | 2,606 |
Net Benefit Cost Recognized and Amounts Recognized in Other Comprehensive Income: Components of the net periodic benefit cost and other amounts recognized in other comprehensive income (loss) for the defined benefit pension plans and the post-retirement health care and life insurance benefit plans during the years ended December 31, 2025, 2024, and 2023, are shown below (in thousands):
|  | Other Post-retirement Benefits |  | Non-qualified Plan Benefits
Components of Net Periodic Benefit Cost |  | 2025 |  | 2024 |  | 2023 |  | 2025 |  | 2024 |  | 2023
Service cost |  | $ | 18 |  |  | $ | 29 |  |  | $ | 69 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest cost |  | 383 |  |  | 386 |  |  | 420 |  |  | 27 |  |  | 26 |  |  | 106 |
Settlement loss (gain) |  | — |  |  | — |  |  | — |  |  | — |  |  | 14 |  |  | — |
Net periodic benefit cost |  | $ | 401 |  |  | $ | 415 |  |  | $ | 489 |  |  | $ | 27 |  |  | $ | 40 |  |  | $ | 106 |
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) |  |  |  |  |  |  |  |  |  |  |
Net gain (loss) |  | $ | (366) |  |  | $ | 532 |  |  | $ | 143 |  |  | $ | (4) |  |  | $ | 2 |  |  | $ | (34) |
Settlement recognition of net loss (gain) |  | — |  |  | — |  |  | — |  |  | — |  |  | 14 |  |  | — |
Total recognized in Other comprehensive income (loss) |  | (366) |  |  | 532 |  |  | 143 |  |  | (4) |  |  | 16 |  |  | (34) |
Total recognized in net periodic benefit cost and Other comprehensive income (loss) |  | $ | (767) |  |  | $ | 117 |  |  | $ | (346) |  |  | $ | (31) |  |  | $ | (24) |  |  | $ | (140) |
Other components of net periodic benefit costs (other than the service cost component) are recorded in Interest and other income (expense), net in the consolidated statements of operations. Amounts recognized on the consolidated balance sheets in accumulated other comprehensive income (loss) as of December 31, 2025 and 2024, were as follows (in thousands):
|  | Other Post-retirement Benefits |  | Non-qualified Plan Benefits
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Net gain (loss), net of taxes |  | $ | 16 |  |  | $ | 382 |  |  | $ | (19) |  |  | $ | (15) |
Unrecognized prior service credit (cost), net of taxes |  | — |  |  | — |  |  | — |  |  | — |
Total Accumulated other comprehensive income (loss) |  | $ | 16 |  |  | $ | 382 |  |  | $ | (19) |  |  | $ | (15) |
Unrecognized gains and losses of the post-retirement benefit plans are amortized over the average future lifetime of inactive participants in excess of a 10% corridor. Although current health costs are expected to increase, the Company attempts to mitigate these increases by maintaining caps on certain of its benefit plans, using lower cost health care plan options where possible, requiring that certain groups of employees pay a portion of their benefit costs, self-insuring for certain insurance plans, encouraging wellness programs for employees, and implementing measures to mitigate future benefit cost increases. Assumptions in Plan Accounting: The weighted average assumptions used to determine benefit information during the years ended December 31, 2025, 2024, and 2023, were as follows:
|  | Other Post-retirement Benefits |  | Non-qualified Plan Benefits
|  | 2025 |  | 2024 |  | 2023 |  | 2025 |  | 2024 |  | 2023
Weighted Average Assumptions |  |  |  |  |  |  |  |  |  |  |  |
Discount rate to determine benefit obligations |  | 5.50% |  | 5.66% |  | 5.15% |  | 4.78% |  | 5.26% |  | 5.19%
Discount rate to determine net cost |  | 5.66% |  | 5.15% |  | 5.41% |  | 5.26% |  | 5.19% |  | 5.24%
Rate of compensation increase |  | 0.5%-3.0% |  | 0.5%-3.0% |  | 0.5%-3.0% |  | N/A |  | N/A |  | N/A
Expected return on plan assets |  | N/A |  | N/A |  | N/A |  | N/A |  | N/A |  | N/A
Interest crediting rates |  | N/A |  | N/A |  | N/A |  | 2.15% |  | 2.15% |  | 2.15%
Initial health care cost trend rate |  | 7.50% |  | 6.70% |  | 6.20% |  | N/A |  | N/A |  | N/A
Ultimate rate |  | 4.00% |  | 4.00% |  | 4.00% |  | N/A |  | N/A |  | N/A
Year ultimate rate is reached |  | 2049 |  | 2048 |  | 2045 |  | N/A |  | N/A |  | N/A
A&B Defined Contribution Plans: The Company sponsors defined contribution plans that qualify under Section 401(k) of the Code and provides matching contributions of up to 3% of eligible compensation. The Company’s matching contributions expensed under these plans totaled $0.5 million, $0.5 million, and $0.5 million for the years ended December 31, 2025, 2024, and 2023, respectively. The Company also provides a non-elective contribution of 3% of the participant's annual eligible compensation made by the Company into the participant's defined contribution plan. The Company's contribution expensed under this non-elective component of the defined contribution plan totaled $0.6 million, $0.5 million, and $0.7 million for the years ended December 31, 2025, 2024, and 2023, respectively. Lastly, the Company maintains profit sharing plans and, if a minimum threshold of Company performance is achieved, provides contributions of 1% to 5%, depending upon Company performance above the minimum threshold. There were $0.5 million, $0.6 million and $0.5 million of profit sharing contribution expenses recognized in the years ended December 31, 2025, 2024, and 2023, respectively.

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