| Schedule of Net Benefit Costs |
Information about the Celgar and Peace River defined benefit plans, in aggregate for the year ended December 31, 2025 was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
|
Pension |
|
|
Other Post-
Retirement
Benefits |
|
|
Total |
|
Change in benefit obligation |
|
|
|
|
|
|
|
|
|
Benefit obligation, December 31, 2024 |
|
$ |
82,382 |
|
|
$ |
9,254 |
|
|
$ |
91,636 |
|
Service cost |
|
|
2,658 |
|
|
|
140 |
|
|
|
2,798 |
|
Interest cost |
|
|
4,023 |
|
|
|
442 |
|
|
|
4,465 |
|
Benefit payments |
|
|
(4,123 |
) |
|
|
(514 |
) |
|
|
(4,637 |
) |
Actuarial gains |
|
|
(4,564 |
) |
|
|
(1,206 |
) |
|
|
(5,770 |
) |
Foreign currency exchange rate changes |
|
|
4,065 |
|
|
|
438 |
|
|
|
4,503 |
|
Benefit obligation, December 31, 2025 |
|
|
84,441 |
|
|
|
8,554 |
|
|
|
92,995 |
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of fair value of plan assets |
|
|
|
|
|
|
|
|
|
Fair value of plan assets, December 31, 2024 |
|
|
89,148 |
|
|
|
— |
|
|
|
89,148 |
|
Actual returns |
|
|
8,295 |
|
|
|
— |
|
|
|
8,295 |
|
Surplus refund |
|
|
(3,025 |
) |
|
|
— |
|
|
|
(3,025 |
) |
Benefit payments |
|
|
(4,049 |
) |
|
|
— |
|
|
|
(4,049 |
) |
Foreign currency exchange rate changes |
|
|
4,464 |
|
|
|
— |
|
|
|
4,464 |
|
Fair value of plan assets, December 31, 2025 |
|
|
94,833 |
|
|
|
— |
|
|
|
94,833 |
|
Funded status, December 31, 2025 |
|
$ |
10,392 |
|
|
$ |
(8,554 |
) |
|
$ |
1,838 |
|
|
|
|
|
|
|
|
|
|
|
Components of the net benefit cost recognized |
|
|
|
|
|
|
|
|
|
Service cost |
|
$ |
2,658 |
|
|
$ |
140 |
|
|
$ |
2,798 |
|
Interest cost |
|
|
4,023 |
|
|
|
442 |
|
|
|
4,465 |
|
Expected return on plan assets |
|
|
(5,504 |
) |
|
|
— |
|
|
|
(5,504 |
) |
Amortization of unrecognized items |
|
|
(324 |
) |
|
|
(743 |
) |
|
|
(1,067 |
) |
Net benefit cost |
|
$ |
853 |
|
|
$ |
(161 |
) |
|
$ |
692 |
|
Information about the Celgar and Peace River defined benefit plans, in aggregate for the year ended December 31, 2024 was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
|
Pension |
|
|
Other Post-
Retirement
Benefits |
|
|
Total |
|
Change in benefit obligation |
|
|
|
|
|
|
|
|
|
Benefit obligation, December 31, 2023 |
|
$ |
85,988 |
|
|
$ |
10,516 |
|
|
$ |
96,504 |
|
Service cost |
|
|
2,745 |
|
|
|
125 |
|
|
|
2,870 |
|
Interest cost |
|
|
3,861 |
|
|
|
461 |
|
|
|
4,322 |
|
Benefit payments |
|
|
(3,059 |
) |
|
|
(550 |
) |
|
|
(3,609 |
) |
Actuarial losses (gains) |
|
|
27 |
|
|
|
(469 |
) |
|
|
(442 |
) |
Foreign currency exchange rate changes |
|
|
(7,180 |
) |
|
|
(829 |
) |
|
|
(8,009 |
) |
Benefit obligation, December 31, 2024 |
|
|
82,382 |
|
|
|
9,254 |
|
|
|
91,636 |
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of fair value of plan assets |
|
|
|
|
|
|
|
|
|
Fair value of plan assets, December 31, 2023 |
|
|
88,783 |
|
|
|
— |
|
|
|
88,783 |
|
Actual returns |
|
|
10,242 |
|
|
|
— |
|
|
|
10,242 |
|
Contributions |
|
|
675 |
|
|
|
— |
|
|
|
675 |
|
Benefit payments |
|
|
(2,996 |
) |
|
|
— |
|
|
|
(2,996 |
) |
Foreign currency exchange rate changes |
|
|
(7,556 |
) |
|
|
— |
|
|
|
(7,556 |
) |
Fair value of plan assets, December 31, 2024 |
|
|
89,148 |
|
|
|
— |
|
|
|
89,148 |
|
Funded status, December 31, 2024 |
|
$ |
6,766 |
|
|
$ |
(9,254 |
) |
|
$ |
(2,488 |
) |
|
|
|
|
|
|
|
|
|
|
Components of the net benefit cost recognized |
|
|
|
|
|
|
|
|
|
Service cost |
|
$ |
2,745 |
|
|
$ |
125 |
|
|
$ |
2,870 |
|
Interest cost |
|
|
3,861 |
|
|
|
461 |
|
|
|
4,322 |
|
Expected return on plan assets |
|
|
(5,160 |
) |
|
|
— |
|
|
|
(5,160 |
) |
Amortization of unrecognized items |
|
|
55 |
|
|
|
(815 |
) |
|
|
(760 |
) |
Net benefit cost |
|
$ |
1,501 |
|
|
$ |
(229 |
) |
|
$ |
1,272 |
|
|
| Schedule of Defined Benefit Pension Plans' Assets Fair Value Measurements |
The following table presents the Celgar and Peace River defined benefit pension plans’ assets fair value measurements as of December 31, 2025 under the fair value hierarchy:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value measurements as of December 31, 2025 using: |
|
Asset Category |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Equity securities |
|
$ |
— |
|
|
$ |
58,286 |
|
|
$ |
— |
|
|
$ |
58,286 |
|
Debt securities |
|
|
— |
|
|
|
33,655 |
|
|
|
— |
|
|
|
33,655 |
|
Other |
|
|
— |
|
|
|
2,892 |
|
|
|
— |
|
|
|
2,892 |
|
Total assets |
|
$ |
— |
|
|
$ |
94,833 |
|
|
$ |
— |
|
|
$ |
94,833 |
|
The following table presents the Celgar and Peace River defined benefit pension plans’ assets fair value measurements as of December 31, 2024 under the fair value hierarchy:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value measurements as of December 31, 2024 using: |
|
Asset Category |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Equity securities |
|
$ |
— |
|
|
$ |
57,338 |
|
|
$ |
— |
|
|
$ |
57,338 |
|
Debt securities |
|
|
— |
|
|
|
29,621 |
|
|
|
— |
|
|
|
29,621 |
|
Other |
|
|
— |
|
|
|
2,189 |
|
|
|
— |
|
|
|
2,189 |
|
Total assets |
|
$ |
— |
|
|
$ |
89,148 |
|
|
$ |
— |
|
|
$ |
89,148 |
|
|