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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Defined Benefit Plans
The status of the defined benefit pension plans at year-end was as follows:
 Year Ended December 31,
In thousands20242023
Change in benefit obligation
Benefit obligation at beginning of year$141,427 $143,521 
Interest cost5,032 7,088 
Settlements(77,891)— 
Actuarial gain (loss)(7,361)1,465 
Benefits paid(6,670)(10,647)
Benefit obligation at end of year$54,537 $141,427 
Change in plan assets
Fair value of plan assets at beginning of year$103,696 $103,891 
Actual return on plan assets1,790 7,128 
Settlements(77,891)— 
Contributions9,885 3,324 
Benefits paid(7,361)(10,647)
Fair value of plan assets at end of year$30,119 $103,696 
Funded status at end of year$(24,418)$(37,731)
Recognized in Balance Sheet
The following amounts have been recognized in the Consolidated Balance Sheets as of December 31:
In thousands20242023
Current pension liabilities within accrued expenses$1,870 $8,561 
Long term pension liabilities - Qualified plans5,445 10,540 
Long term pension liabilities - Nonqualified plan17,103 18,630 
Total pension liabilities$24,418 $37,731 
Recognized in Accumulated Other Comprehensive Loss
The following amounts have been recognized in accumulated other comprehensive losses, net of tax, as of December 31:
In thousands20242023
Accumulated other comprehensive losses, net of tax$10,183 $42,456 
Accumulated Benefit of Obligation in Excess of Plan Asset
The following information is presented for pension plans with an accumulated benefit obligation in excess of plan assets:
In thousands20242023
Projected benefit obligation$54,537 $141,427 
Accumulated benefit obligation$54,537 $141,427 
Fair value of plan assets$30,119 $103,696 
Net Period of Net Periodic Cost
The following table presents the components of net periodic benefit cost and other amounts recognized in other comprehensive income in the Consolidated Statements of Comprehensive Income for Qualified Pension Plan II and Restoration Pension Plans:
Year Ended December 31,
In thousands20242023
Net Periodic Benefit Cost
Interest cost$5,032 $7,088 
Expected return on plan assets(3,633)(6,216)
Recognized actuarial loss1,557 2,521 
Net periodic benefit cost2,956 3,393 
Amounts Recognized in Other Comprehensive Income
Adjustment to pension liabilities(32,273)(1,723)
Net cost recognized in net periodic benefit cost and other comprehensive income$(29,317)$1,670 
Weighted-Average Assumptions Used for Measurement of Defined Pension Plans
The weighted-average assumptions used for measurement of the defined pension plans were as follows:
Weighted-average assumptions used to determine net periodic benefit costYear Ended December 31,
20242023
Discount rate
Qualified Plan I5.64 %5.13 %
Qualified Plan II4.99 %5.18 %
Restoration Plan4.92 %5.12 %
  
Expected return on plan assets
Qualified Plan I4.85 %5.95 %
Qualified Plan II6.95 %7.05 %
Restoration Plann/a n/a
Weighted-average assumptions used to determine benefit obligationsDecember 31,
20242023
Discount rate
Qualified Plan In/a5.64 %
Qualified Plan II5.63 %4.99 %
Restoration Plan5.64 %4.92 %
Plan Assets
The funded pension plan assets as of December 31, 2024 and 2023, by asset category, were as follows:
In thousands2024%2023%
Equity securities$23,658 79 %$20,635 20 %
Debt securities5,252 17 %76,036 73 %
Other1,209 %7,025 %
Total plan assets$30,119 100 %$103,696 100 %
The following tables present the fair value measurements of the assets in our funded pension plan:
As of December 31, 2024
In thousandsTotalQuoted Prices in Active Markets
for Identical Assets
(Level 1)
Significant Other Observable
Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Equity securities$23,658 $23,658 $— $— 
Debt securities5,252 3,669 1,583 — 
Total investments, excluding investments valued at NAV28,910 27,327 1,583 — 
Investments valued at NAV(1)
1,209 — — — 
Total plan assets$30,119 $27,327 $1,583 $— 
As of December 31, 2023
In thousandsTotalQuoted Prices in Active Markets
for Identical Assets
(Level 1)
Significant Other Observable
Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
Equity securities$20,635 $20,635 $— $— 
Debt securities$76,036 66,847 9,189 — 
Total investments, excluding investments valued at NAV96,671 87,482 9,189 — 
Investments valued at NAV(1)
$7,025 — — — 
Total plan assets$103,696 $87,482 $9,189 $— 
(1)Investment valued at net asset value ("NAV") are comprised of cash, cash equivalents, and short-term investments used to provide liquidity for the payment of benefits and other purposes. The commingled funds are valued at NAV based on the market value of the underlying investments, which are primarily government issued securities.
Acceptable Level of Volatility The policy establishes the following investment mix, which is intended to subject the principal to an acceptable level of volatility while still meeting the desired return objectives:
Qualified Pension Plan IITarget Acceptable RangeBenchmark Index
Equities77%
62% - 87%
 
  U.S. Large Cap28%
18% - 38%
Russell 1000 TR
  U.S. Mid Cap18%
13% - 23%
Russell Mid Cap Index TR
  U.S. Small Cap9%
4% - 14%
Russell 2000 TR
International Equity   
  Developed16%
11% - 21%
MSCI EAFE Net TR USD Index
  Emerging Markets6%
0% - 9%
MSCI Emerging Net Total Return
Fixed Income21%
11% - 31%
 
  Investment Grade21%
11% - 31%
BBG BARC US Aggregate Bond Index
Cash Equivalent2%
0%-40%
ICE BofA US 3-Month Treasury Bill Index TR
Expected Future Benefit Payments
The expected future benefit payments for Qualified Pension Plan II and Restoration Pension Plan over the next ten years as of December 31, 2024, are as follows:
In thousands
2025$4,110 
20264,204 
20274,302 
20284,403 
20294,582 
2030 - 203422,944 
Total$44,545