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Postretirement Benefit Obligations (Tables)
12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Defined Benefit Plans Disclosures
The following tables summarize the balance sheet impact, including the benefit obligations, assets and funded status associated with the AdvanSix Retirement Earnings Plan.
Change in benefit obligation:
202420232022
Benefit obligation at January 1,
$93,270 $80,174 $91,389 
Service Cost
4,877 4,906 6,860 
Interest Cost
4,524 4,048 2,436 
Actuarial losses (gains)
(12,285)6,636 (18,665)
Benefits Paid(3,098)(2,494)(1,846)
Benefit obligation at December 31,
$87,288 $93,270 $80,174 
  
Change in plan assets:
 
Fair value of plan assets at January 1,
86,084 77,362 71,252 
Actual return on plan assets6,053 11,216 (12,044)
Benefits paid(3,098)(2,494)(1,846)
Company Contributions
— — 20,000 
Fair value of plan assets at December 31,
89,039 86,084 77,362 
Under (Over)-Funded status of plan
$(1,751)$7,186 $2,812 
  
Amounts recognized in Balance Sheet consists of:
 
Accrued pension liabilities-current (1)
$— $3,526 $2,812 
Accrued pension liabilities-noncurrent (2)
— 3,660 — 
Pension asset-noncurrent (3)
(1,751)— — 
Total pension liabilities (assets) recognized
$(1,751)$7,186 $2,812 

(1) Included in accrued liabilities on Balance Sheet
(2) Included in postretirement benefit obligations on Balance Sheet
(3) Included in other assets on Balance Sheet
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
Pension amount recognized in accumulated other comprehensive loss (income) associated with the Company's pension plan are as follows for:
Years Ended December 31,
202420232022
Transition obligation
$— $— $— 
Prior service cost
— — — 
Net actuarial (gain) loss
(14,725)(1,271)(1,087)
Pension amounts recognized in other comprehensive loss (income)
$(14,725)$(1,271)$(1,087)
Schedule of Net Benefit Costs
The components of net periodic benefit cost and other amounts recognized in other comprehensive income for our pension plan include the following components:
 Years Ended December 31,
202420232022
Net periodic pension cost (benefit)
Service cost
$4,877 $4,906 $6,860 
Interest cost
4,524 4,048 2,436 
Expected return on plan assets
(4,884)(4,396)(4,463)
Recognition of actuarial losses
— — — 
Net periodic Pension Cost
4,517 4,558 4,833 
Other changes in benefits obligations recognized in other comprehensive loss (income)
   
Actuarial losses (gains)
(13,455)(184)(2,157)
Total recognized in other comprehensive income
(13,455)(184)(2,157)
Total net periodic pension cost (benefit) recognized in Other comprehensive income
$(8,938)$4,374 $2,676 
Schedule of Assumptions Used
Significant actuarial assumptions used in determining the benefit obligations and net periodic benefit cost for our pension plan were as follows:
Key actuarial assumptions used to determine benefit obligations at December 31,
202420232022
Effective discount rate for benefit obligation5.8%5.1%5.3%
Expected annual rate of compensation increase2.9%2.9%2.9%
Key actuarial assumptions used to determine the net periodic benefit cost for the years ended December 31,202420232022
Effective discount rate for service cost5.1%5.3%3.1%
Effective discount rate for interest cost4.9%5.1%2.7%
Expected long-term rate of return6.5%6.5%6.5%
Expected annual rate of compensation increase2.9%2.9%2.4%
Schedule of Expected Benefit Payments
Benefit payments, including amounts to be paid from Company assets, and reflecting expected future service, as appropriate, are expected to be paid during the following years:
2025$3,942 
20264,485 
20274,985 
20285,427 
20296,072 
Thereafter35,584 
Schedule of Pension Plan Contributions The Company made pension plan contributions sufficient to satisfy pension funding requirements under the AdvanSix Retirement Earnings Plan as follows:
Years Ended December 31,
202420232022
1st Quarter$— $— $— 
2nd Quarter— — 10,000 
3rd Quarter— — 5,000 
4th Quarter— — 5,000 
Total$— $— $20,000 
Schedule of Target Asset Allocation of Pension Plan Assets
The target asset allocation percent for the Company's pension plan assets is summarized as follows:
Years Ended December 31,
20242023
Cash and cash equivalents3%3%
US and non-US equity securities44%64%
Fixed income / real estate / other securities33%33%
Alternative Equity20%—%
Total Pension Assets100%100%
Schedule of Fair Value of Plan Assets
 Fair Value at December 31,
Fair Value Measurements202420232022
Investments valued using NAV per share
Emerging Markets Region Equities$5,184 $4,839 $4,427 
International Region Equities17,618 16,975 14,370 
United States Equities41,235 38,324 31,235 
United States Bonds22,034 22,988 20,115 
Real Estate1,360 1,391 1,563 
Cash Fund1,608 1,567 5,652 
Total Pension Plan Assets at Fair Value$89,039 $86,084 $77,362