Changes during the year in the projected benefit obligations and in the fair value of plan assets are as follows for 2021 and 2020 (in thousands):


	2021				2020

	Pension Benefits		Postretirement Benefits		Pension Benefits		Postretirement Benefits
Projected benefit obligations:
Balance at beginning of year:	$	88,772	$	5,510	$	81,977	$	4,899
Alaska acquisition		15,399		392		—		—
Service cost		229		143		439		139
Interest cost		2,043		127		2,585		163
Benefits and settlements paid		(4,488)		(390)		(4,791)		(450)
Actuarial (gain) loss		(1,297)		(439)		8,651		759
Settlement		(34)		—		(89)		—
Balance at end of year	$	100,624	$	5,343	$	88,772	$	5,510
Plan net assets:
Balance at beginning of year:	$	89,352	$	—	$	83,350	$	—
Alaska acquisition		12,147		—		—		—
Actual return on plan assets		7,246		—		10,398		—
Company contributions		—		390		958		450
Benefits and settlements paid		(5,027)		(390)		(5,354)		(450)
Balance at end of year	$	103,718	$	—	$	89,352	$	—
Over/ (Under) funded status of plan	$	3,094	$	(5,343)	$	580	$	(5,510)

The fair values for the pension plan’s net assets, by asset category, at December 31, 2021 are as follows (in thousands):


Asset Category	Total		Level 1		Level 2
Cash, cash equivalents, money markets and other	$	17,908	$	17,908	$	—
Common stock		28,041		28,041		—
Mutual funds - fixed income		9,599		9,599		—
Mutual funds - equities		9,299		9,299		—
Fixed income securities		32,332		—		32,332
Other		6,539		6,539		—
Total	$	103,718	$	71,386	$	32,332

The fair values for the pension plan’s net assets, by asset category, at December 31, 2020 are as follows (in thousands):


Asset Category	Total		Level 1		Level 2
Cash, cash equivalents, money markets and other	$	5,037	$	5,037	$	—
Common stock		27,785		24,781		3,004
Mutual funds - fixed income		9,494		9,494		—
Mutual funds - equities		8,278		8,278		—
Fixed income securities		37,225		—		37,225
Other		1,533		1,533		—
Total	$	89,352	$	49,123	$	40,229

Amounts recognized on the Company’s consolidated balance sheets consist of (in thousands):


	As of December 31,
	2021				2020
	Pension benefits		Postretirement benefits		Pension benefits		Postretirement benefits

Accrued and current liabilities	$	—	$	370	$	—	$	381
Other Liabilities		2,687		4,616		—		5,129
Other Assets		5,780		—		580		—
Accumulated other comprehensive income, net of tax		4,419		27		(158)		(411)

Components of the plan’s net periodic pension cost are as follows for the years ended December 31, 2021, 2020 and 2019 (in thousands):


	2021				2020				2019
	Pension benefits		Postretirement benefits		Pension benefits		Postretirement benefits		Pension benefits		Postretirement benefits
Operating expense
Service cost	$	229	$	143	$	439	$	139	$	1,709	$	126
Non-operating expense
Interest cost		2,043		127		2,585		163		3,472		182
Expected return on plan assets		(3,366)		—		(3,060)		—		(4,571)		—
Amortization of actuarial (gain) loss		—		—		—		(11)		29		(58)
Settlement		34		—		89		—		(35)		—
Net periodic pension cost	$	(1,060)	$	270	$	53	$	291	$	604	$	250