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Employee benefit plans (Tables)
12 Months Ended
Dec. 31, 2021
Employee benefit plans  
Summary of pension and postretirement life insurance plans

 

Pension Benefits 

 

December 31

2021

2020

 

Change in benefit obligation:

    

    

Benefit obligation, beginning

$

19,113

$

17,491

Interest cost

 

419

 

544

Change in experience gain

 

(49)

 

(291)

Change in actuarial assumptions

 

(603)

 

2,159

Benefits paid

 

(814)

 

(790)

Benefit obligation, ending

 

18,066

 

19,113

Change in plan assets:

Fair value of plan assets, beginning

 

17,628

 

16,930

Actual return on plan assets

 

2,443

 

1,488

Employer contributions

 

 

Benefits paid

 

(814)

 

(790)

Fair value of plan assets, ending

 

19,257

 

17,628

Funded status at end of year

$

1,191

$

(1,485)

Schedule of amounts recognized in balance sheet

 

Pension Benefits 

 

December 31

2021

2020

 

(Other Assets)/Other Liabilities

    

$

(1,190)

    

$

1,485

    

Amounts recognized in the accumulated other comprehensive income (loss) consist of:

Net actuarial gain

 

(5,868)

 

(7,977)

Deferred taxes

 

1,232

 

1,675

Net amount recognized

$

(4,636)

$

(6,302)

Schedule of components of net periodic benefit cost

Pension Benefits

 

Years Ended December 31, 

2021

2020

2019

 

Net periodic pension income:

    

    

    

Interest cost

$

419

$

544

$

639

Expected return on plan assets

 

(1,288)

 

(1,236)

 

(1,084)

Amortization of unrecognized net loss

 

301

 

218

 

227

Net periodic pension income:

 

(568)

 

(474)

(218)

Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss):

Net loss (gain)

 

419

 

544

 

639

Deferred tax

 

(88)

 

(114)

 

(134)

Total recognized in other comprehensive income (loss)

 

331

 

430

 

505

Total recognized in net period pension cost and other comprehensive income (loss)

$

(237)

$

(44)

$

287

Schedule of weighted-average assumptions used to determine benefit obligations and related expenses

 

Pension Benefits

 

December 31, 

2021

2020

2019

 

Discount rate:

    

    

    

Obligation

 

2.59

%

2.25

%  

3.25

%  

Expense

 

2.25

3.25

4.00

Expected long-term return on plan assets

 

7.50

%

7.50

%  

7.50

%  

Schedule of pension plan weighted-average asset allocations

December 31, 

    

2021

    

2020

 

Asset Category:

Cash and cash equivalents

 

4.8

%

6.8

%

Equity securities

 

67.4

63.3

Corporate bonds

 

19.6

20.7

U.S. government securities

 

8.2

9.2

 

100.0

%  

100.0

%

Schedule of fair value measurement of pension plan assets

    

    

Quoted Prices in

    

    

 

Active Markets

Significant

Significant

 

for Identical

Observable

Observable

 

Assets

Inputs

Inputs

 

December 31, 2021

Total 

(Level 1) 

(Level 2) 

(Level 3) 

 

Cash and cash equivalents

$

918

$

918

 

$

Equity securities:

U.S. large cap

 

11,940

 

11,940

International

 

1,039

 

1,039

Fixed income securities:

U.S. Treasuries

 

214

$

214

U.S. government agencies

 

1,371

 

1,371

Corporate bonds

 

3,775

 

3,775

Total

$

19,257

$

13,897

$

5,360

$

    

    

Quoted Prices in

    

    

 

Active Markets

Significant

Significant

 

for Identical

Observable

Observable

 

Assets

Inputs

Inputs

 

December 31, 2020

Total 

(Level 1) 

(Level 2) 

(Level 3) 

 

Cash and cash equivalents

$

1,203

$

1,203

$

Equity securities:

U.S. large cap

 

10,266

 

10,266

International

 

888

 

888

Fixed income securities:

U.S. Treasuries

 

216

$

216

U.S. government agencies

 

1,400

 

1,400

Corporate bonds

 

3,655

 

3,655

Total

$

17,628

$

12,357

$

5,271

$

Schedule of expected benefit payments

    

Pension Benefits

 

2022

$

878

2023

 

901

2024

 

952

2025

 

984

2026

 

1,015

Thereafter

5,020