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Retirement Benefit Obligations (Tables) | 9 Months Ended
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Sep. 30, 2024
Key Weighted Average Assumptions Used in Determining Benefit Plan Costs and Obligations | The following table includes the key weighted average assumptions used in determining the Company’s benefit plan costs and obligations:
Used to Determine Plan Costs |  | 2024 |  |  | 2023 |
Discount Rate |  |  | 5.00 | % |  |  | 5.25 | %
Rate of Compensation Increase |  |  | 3.00 | % |  |  | 3.00 | %
Expected Long-term rate of return on plan assets |  |  | 7.50 | % |  |  | 7.50 | %
Components of Retirement Plan Costs | The following tables provide the components of the Company’s Retirement plan costs ($000’s):
|  | Pension Plan |  |  | PBOP Plan |  |  | SERP |
For the Three Months Ended September 30, |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Service Cost |  | $ | 498 |  |  | $ | 522 |  |  | $ | 497 |  |  | $ | 374 |  |  | $ | 53 |  |  | $ | 63 |
Interest Cost |  |  | 1,887 |  |  |  | 1,870 |  |  |  | 817 |  |  |  | 724 |  |  |  | 180 |  |  |  | 188 |
Expected Return on Plan Assets |  |  | (2,649 | ) |  |  | (2,673 | ) |  |  | (970 | ) |  |  | (852 | ) |  |  | — |  |  |  | — |
Prior Service Cost Amortization |  |  | 80 |  |  |  | 90 |  |  |  | — |  |  |  | 198 |  |  |  | 4 |  |  |  | 14 |
Actuarial (Gain) Loss Amortization |  |  | 361 |  |  |  | — |  |  |  | (218 | ) |  |  | (366 | ) |  |  | — |  |  |  | — |
Sub-total |  |  | 177 |  |  |  | (191 | ) |  |  | 126 |  |  |  | 78 |  |  |  | 237 |  |  |  | 265 |
Amounts Capitalized and Deferred |  |  | 30 |  |  |  | 333 |  |  |  | (8 | ) |  |  | 82 |  |  |  | (73 | ) |  |  | (82 | )
Net Periodic Benefit Cost Recognized |  | $ | 207 |  |  | $ | 142 |  |  | $ | 118 |  |  | $ | 160 |  |  | $ | 164 |  |  | $ | 183 |
|  | Pension Plan |  |  | PBOP Plan |  |  | SERP |
For the Nine Months Ended September 30, |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Service Cost |  | $ | 1,492 |  |  | $ | 1,568 |  |  | $ | 1,491 |  |  | $ | 1,120 |  |  | $ | 162 |  |  | $ | 188 |
Interest Cost |  |  | 5,659 |  |  |  | 5,610 |  |  |  | 2,451 |  |  |  | 2,174 |  |  |  | 542 |  |  |  | 565 |
Expected Return on Plan Assets |  |  | (7,947 | ) |  |  | (8,017 | ) |  |  | (2,908 | ) |  |  | (2,556 | ) |  |  | — |  |  |  | — |
Prior Service Cost Amortization |  |  | 242 |  |  |  | 267 |  |  |  | — |  |  |  | 595 |  |  |  | 8 |  |  |  | 42 |
Actuarial (Gain) Loss Amortization |  |  | 1,085 |  |  |  | — |  |  |  | (655 | ) |  |  | (1,098 | ) |  |  | — |  |  |  | — |
Sub-total |  |  | 531 |  |  |  | (572 | ) |  |  | 379 |  |  |  | 235 |  |  |  | 712 |  |  |  | 795 |
Amounts Capitalized and Deferred |  |  | 165 |  |  |  | 1,197 |  |  |  | 170 |  |  |  | 415 |  |  |  | (221 | ) |  |  | (246 | )
Net Periodic Benefit Cost Recognized |  | $ | 696 |  |  | $ | 625 |  |  | $ | 549 |  |  | $ | 650 |  |  | $ | 491 |  |  | $ | 549 |

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- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (k) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost. + 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 + Details
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