XML 51 R37.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Post Retirement Benefits (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Retirement Benefits [Abstract] |
Schedule of Multiemployer Plan |
Pension Fund |  | EIN/Pension Plan Number |  | Pension Protection Act Zone Status |  | FIP/RP Status Pending/ Implemented |  | Contributions of the Company |  | Surcharge Imposed |  | Expiration Date of Collective Bargaining Agreement
2023 |  | 2022 | 2023 |  | 2022
IAM National Pension Fund / National Pension Plan (A) |  | 51-6031295 - 002 |  | Red Zone as of 12/31/22 |  | Red Zone as of 12/31/21 |  | Implemented |  | $ | 1,002,000 |  |  | $ | 1,191,000 |  |  | Yes |  | 8/7/2025
|  |  |  |  |  | Total Contributions: |  | $ | 1,002,000 |  |  | $ | 1,191,000 |  |  |  |  |
(A)The plan re-certified its zone status after using the amortization provisions of the Code. The Company's contributions to the plan did not represent more than 5% of total contributions to the plan as indicated in the plan's most recently available annual report for the plan year ended December 31, 2022. Under the terms of the collective-bargaining agreement, the Company is required to make contributions to the plan for each hour worked up to a maximum of 40 hours per person, per week at $1.55 per hour from August 10, 2019 through August 9, 2025. The Company is paying a surcharge of $0.16 for each hour worked up to a maximum of 40 hours per person, per week as a result of the pension plan being in the Red Zone.
Schedule of Benefit Obligation | The funded status of the Company's post retirement health and life insurance benefits plan as of December 31, 2023 and 2022 and reconciliation with the amounts recognized in the Consolidated Balance Sheets are provided below (in thousands):
| Post Retirement Benefits
2023 |  | 2022
Change in benefit obligation: |  |  |
Benefit obligation at January 1 | $ | 6,625 |  |  | $ | 9,080 |
Interest cost | 254 |  |  | 198 |
Unrecognized gain | (3,004) |  |  | (2,136) |
Benefits paid, net | (759) |  |  | (517) |
Benefit obligation at December 31 | $ | 3,116 |  |  | $ | 6,625 |
Plan Assets | — |  |  | — |
Amounts recorded in accumulated other comprehensive income: |  |  |
Prior service credit | $ | (3,648) |  |  | $ | (4,122) |
Net loss (gain) | (2,056) |  |  | 948 |
Total | $ | (5,704) |  |  | $ | (3,174) |
Weighted-average assumptions as of December 31: |  |  |
Discount rate used to determine benefit obligation and net periodic benefit cost | 4.7 | % |  | 4.9 | %
Schedule of Post Retirement Benefit Plans | The components of expense for all of the Company's post retirement benefit plans for the years ended December 31 (in thousands):
| 2023 |  | 2022 |  | 2021
Pension expense: |  |  |  |  |
Multi-employer plan | $ | 981 |  |  | $ | 1,137 |  |  | $ | 857 |
Defined contribution plans | 1,873 |  |  | 1,482 |  |  | 1,231 |
Total pension expense | 2,854 |  |  | 2,619 |  |  | 2,088 |
Health and life insurance: |  |  |  |  |
Interest cost | 254 |  |  | 198 |  |  | 161 |
Amortization of prior service credits | (496) |  |  | (496) |  |  | (496) |
Amortization of net loss | 22 |  |  | 174 |  |  | 173 |
Net periodic benefit credit | (220) |  |  | (124) |  |  | (162) |
Total post retirement benefits expense | $ | 2,634 |  |  | $ | 2,495 |  |  | $ | 1,926 |
Schedule of Future Benefit Payments | The estimated future benefit payments of the health care plan for the next ten years are as follows (in thousands):
| Postretirement Health Care Benefits Plan
2024 | $ | 156 |
2025 | 152 |
2026 | 159 |
2027 | 144 |
2028 | 149 |
2029 - 2033 | 745 |

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefit obligation and plan assets for defined benefit pension plan with projected benefit obligation in excess of plan assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480482/715-20-55-17 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-3 + Details
Name: | us-gaap_ScheduleOfBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480482/715-20-55-17 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-2 + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about multiemployer plan. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480547/715-80-55-8 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (e)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (e)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-5 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-9 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 80 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480576/715-80-50-9 + Details
Name: | us-gaap_ScheduleOfMultiemployerPlansTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration