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Retirement Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Assumptions Used in Accounting for the Defined Benefit Plan
The assumptions used in accounting for the defined benefit plans were as follows for the years ended December 31:
 20242023
Weighted average discount rates for pension benefit obligation
5.39% - 5.49%
5.02% - 5.04%
Weighted average discount rates for net periodic benefit cost
5.02% - 5.04%
5.36% - 5.40%
Expected long-term rate of return on assets for net periodic benefit cost5.00%7.00%
The assumptions used in accounting for the postretirement health care plans are set forth below for the years ended December 31:
 20242023
Weighted average discount rates for benefit obligation5.26 %4.98 %
Weighted average discount rates for net periodic benefit cost4.98 %5.29 %
Health care cost trend rate assumed for next year
6.50%
6.25% - 6.50%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)
4.75%
4.75%
Year that the rate reaches the ultimate trend rate
2033
2029 - 2033
Schedule of Net Periodic Benefit Income and Expense For the Defined Benefit Plan
Set forth below is detail of the net periodic pension expense for the defined benefit plans for the years ended December 31:
 20242023
Interest cost$1,360 $1,639 
Expected return on plan assets(1,641)(2,751)
Amortization of actuarial loss270 51 
Amortization of prior service cost58 58 
     Settlements 1,815 
Net periodic pension expense
$47 $812 
Set forth below is detail of the net periodic benefit expense for the postretirement health care plans for the years ended December 31:
 20242023
Service cost$8 $
Interest cost75 77 
Amortization of actuarial loss75 44 
Amortization of prior service credit(6)(50)
Net periodic benefit expense$152 $78 
Schedule of Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss (Income)
Set forth below is detail of other changes in plan assets and benefit obligations recognized in other comprehensive loss for the years ended December 31:
 20242023
Current year actuarial loss
$960 $2,560 
Amortization of actuarial loss(270)(51)
Amortization of prior service cost(58)(58)
     Settlements (1,815)
Total recognized in other comprehensive loss$632 $636 
Set forth below is detail of other changes in benefit obligations recognized in other comprehensive (income) loss for the years ended December 31:
 20242023
Current year actuarial (gain) loss
$(49)$173 
Amortization of actuarial loss(75)(44)
Amortization of prior service credit6 50 
Total recognized in other comprehensive (income) loss
$(118)$179 
Schedule of Changes in Benefit Obligations During the Year and Funded Status of Defined Benefit Plan
The following table sets forth the changes in the benefit obligation and the plan assets during the year and the funded status of the defined benefit plans at December 31:
 20242023
Change in benefit obligation  
Projected benefit obligation at beginning of year$28,357 $31,722 
Interest cost1,360 1,639 
Actuarial (gain) loss
(427)2,261 
Benefits paid(2,610)(2,614)
Settlements (4,651)
Projected benefit obligation at end of year$26,680 $28,357 
Accumulated benefit obligation at end of year$26,680 $28,357 
Change in plan assets 
Fair value of plan assets at beginning of year$30,128 $34,485 
Actual return on plan assets258 2,452 
Employer contributions475 456 
Benefits paid(2,610)(2,614)
Settlements (4,651)
Fair value of plan assets at end of year$28,251 $30,128 
Funded status at end of year$1,571 $1,771 
Amounts recognized in the balance sheets consist of: 
Non-current assets$5,624 $6,068 
Current liabilities(515)(510)
Non-current liabilities(3,538)(3,787)
 $1,571 $1,771 
Components of accumulated other comprehensive loss consist of:
Actuarial loss$12,072 $11,379 
Prior service cost528 586 
Deferred taxes(2,869)(2,724)
 $9,731 $9,241 
The following sets forth the changes in benefit obligations during the year and the funded status of the postretirement health care plans at December 31:
 20242023
Change in benefit obligation  
Benefit obligation at beginning of year$1,579 $1,551 
Service cost8 
Interest cost75 77 
Actuarial (gain) loss
(49)173 
Benefits paid(195)(229)
Benefit obligation at end of year$1,418 $1,579 
Funded status at end of year$(1,418)$(1,579)
Amounts recognized in the balance sheets consist of: 
Current liabilities$(169)$(183)
Noncurrent liabilities(1,249)(1,396)
 $(1,418)$(1,579)
Components of accumulated other comprehensive loss consist of: 
Actuarial loss$416 $542 
Prior service credit (6)
Deferred taxes(95)(123)
 $321 $413 
Schedule of Future Benefit Payments
Future pension benefit payments expected to be paid from assets of the pension plans are:
2025$2,750 
20262,631 
20272,575 
20282,514 
20292,435 
2030 - 203410,860 
 $23,765 
Future postretirement health care benefit payments expected to be paid are:
2025173 
2026182 
2027185 
2028174 
2029166 
2030 - 2034582 
 $1,462 
Schedule of Actual Allocation Percentage and Target Allocation Percentage for Pension Plan Assets
The following is the actual allocation percentage and target allocation percentage for the pension plan assets at December 31:
 2024 Actual
Allocation
2023 Actual
Allocation
Target Allocation
Range
Fixed income securities99.2 %99.1 %
90.0% - 100.0%
Money market funds0.8 %0.6 %
0.0% - 10.0%
Cash equivalents %0.3 %
0.0%
Schedule of Fair Value of Pension Plan Assets
The fair value of each major category of our pension plan assets are valued using quoted market prices in active markets for identical assets, or Level 1 in the fair value hierarchy. Following are the values as of December 31:
Level 1
 20242023
Fixed income securities$28,028 $29,866 
Money market funds223 181 
Cash equivalents 81 
Total$28,251 $30,128