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Employee Benefit Plans (Tables)
6 Months Ended
Jun. 30, 2023
Retirement Benefits [Abstract]  
Components of Net Periodic Benefit Expense

The components of the Company’s net periodic benefit expense for its pension and post-retirement obligations were as follows (in thousands):

 

 

 

Three months ended
June 30,

 

 

Six months ended
June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Service cost

 

$

447

 

 

$

871

 

 

$

895

 

 

$

1,742

 

Interest cost on projected benefit obligation

 

 

855

 

 

 

647

 

 

 

1,710

 

 

 

1,294

 

Expected return on plan assets

 

 

(878

)

 

 

(1,141

)

 

 

(1,756

)

 

 

(2,282

)

Amortization of unrecognized prior service credit

 

 

(123

)

 

 

 

 

 

(245

)

 

 

 

Amortization of unrecognized net actuarial loss

 

 

316

 

 

 

64

 

 

 

632

 

 

 

128

 

Net periodic benefit expense

 

$

617

 

 

$

441

 

 

$

1,236

 

 

$

882