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RETIREMENT BENEFIT PLANS (Tables) | 12 Months Ended
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Dec. 31, 2022
Retirement Benefits [Abstract] |
Schedule Of Estimated Benefit Obligation Weighted Average Assumptions Table Text Block | Weighted-average assumptions used to determine the estimated benefit obligation and period costs as of and for the year ended December 31, 2022 and 2021 are as follows:
| Year Ended December 31,
| 2022 |  | 2021
| Pension Benefits |  | Postretirement Benefits |  | Pension Benefits |  | Postretirement Benefits
Weighted-average assumptions used to determine pension benefit obligation: |  |  |  |  |  |  |
Discount rate | 5.31 | % |  | 5.29 | % |  | 3.02 | % |  | 3.00 | %
Rate of compensation increase | 3.50 | % |  | N/A |  | 3.50 | % |  | N/A
Initial healthcare cost trend rate | N/A |  | 5.80 | % |  | N/A |  | 10% pre-Med; 3% Medicare
Ultimate healthcare cost trend rate | N/A |  | 3.94 | % |  | N/A |  | 3.94 | %
Year ultimate healthcare cost trend rate is reached | N/A |  | 2075 |  | N/A |  | 2075
Weighted-average assumptions used to determine net periodic pension and postretirement costs: |  |  |  |  |  |  |
Discount rate | 3.02 | % |  | 3.00 | % |  | 2.88 | % |  | 2.86 | %
Rate of compensation increases | 3.50 | % |  | N/A |  | 3.50 | % |  | N/A
Average future working lifetime | 11.01 years |  | 11.32 years |  | 10.93 years |  | 11.34 years
Initial healthcare cost trend rate | N/A |  | 6.00 | % |  | N/A |  | 6.00 | %
Ultimate healthcare cost trend rate | N/A |  | 3.94 | % |  | N/A |  | 3.80 | %
Year ultimate healthcare cost trend rate is reached | N/A |  | 2075 |  | N/A |  | 2075
Schedule of Expected Benefit Payments | The following benefit payments, which reflect expected future service and compensation increases, as appropriate, are expected to be made from the Transtar defined benefit plans:
| Pension Benefits |  | Postretirement Benefits
2023 | $ | 176 |  |  | $ | 428 |
2024 | 251 |  |  | 640 |
2025 | 406 |  |  | 900 |
2026 | 590 |  |  | 1,150 |
2027 | 756 |  |  | 1,336 |
Years 2028-2032 | 5,753 |  |  | 9,308 |
Schedule of Changes in Expected Benefit Obligation and Plan Assets | The following table summarizes the changes in our projected benefit obligation and plan assets as of December 31, 2022 and 2021. Service costs are recorded in Operating expenses, and interest costs are recorded in Other (expense) income in the Consolidated and Combined Consolidated Statements of Operations.
| Year Ended December 31,
| 2022 |  | 2021
| Pension Benefits |  | Postretirement Benefits |  | Pension Benefits |  | Postretirement Benefits
Projected Benefit Obligation |  |  |  |  |  |  |
Projected benefit obligation, beginning of period | $ | 9,805 |  |  | $ | 30,033 |  |  | $ | — |  |  | $ | — |
Transtar acquisition | — |  |  | (2,854) |  |  | 9,055 |  |  | 28,488 |
Plan amendment | — |  |  | 1,470 |  |  | — |  |  | — |
Service costs | 1,763 |  |  | 2,143 |  |  | 712 |  |  | 864 |
Interest costs | 315 |  |  | 917 |  |  | 108 |  |  | 337 |
Actuarial (gains) losses | (2,814) |  |  | (3,065) |  |  | (20) |  |  | 344 |
Benefit paid | (137) |  |  | (121) |  |  | (50) |  |  | — |
Projected benefit obligation, end of period | $ | 8,932 |  |  | $ | 28,523 |  |  | $ | 9,805 |  |  | $ | 30,033 |
Plan Assets |  |  |  |  |  |  |
Fair value of plan assets, beginning of period | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Asset adjustment | 1 |  |  | — |  |  | — |  |  | — |
Actual return on plan assets | 1 |  |  | — |  |  | — |  |  | — |
Employer contributions | 1,846 |  |  | — |  |  | 50 |  |  | — |
Other benefits paid | (137) |  |  | — |  |  | (50) |  |  | — |
Fair value of plan assets, end of period | $ | 1,711 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Funded status at end of year | $ | (7,221) |  |  | $ | (28,523) |  |  | $ | (9,805) |  |  | $ | (30,033) |
Schedule of Amounts Recognized in Balance Sheet | As of December 31, 2022 and 2021, the following amounts were recognized in the Consolidated and Combined Consolidated Balance Sheets:
| Year Ended December 31,
| 2022 |  | 2021
| Pension Benefits |  | Postretirement Benefits |  | Pension Benefits |  | Postretirement Benefits
Current liabilities | $ | — |  |  | $ | 251 |  |  | $ | 52 |  |  | $ | 102 |
Non-current liabilities | 7,221 |  |  | 28,272 |  |  | 9,753 |  |  | 29,931 |
Net amounts recognized at end of period | $ | 7,221 |  |  | $ | 28,523 |  |  | $ | 9,805 |  |  | $ | 30,033 |
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | The following table summarizes the components of net periodic pension cost and other amounts recognized in other comprehensive loss for the years ended December 31, 2022 and 2021:
| Year Ended December 31,
| 2022 |  | 2021
| Pension Benefits |  | Postretirement Benefits |  | Pension Benefits |  | Postretirement Benefits
Prior service cost (credit) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Amortization of prior service (cost) credit | — |  |  | 1,470 |  |  | — |  |  | — |
Actuarial loss (gain) | (2,814) |  |  | (3,065) |  |  | (20) |  |  | 334 |
Amortization of actuarial (loss) gain | — |  |  | — |  |  | — |  |  | — |
Total recognized in other comprehensive loss | $ | (2,814) |  |  | $ | (1,595) |  |  | $ | (20) |  |  | $ | 334 |

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- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
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