v3.26.1
Employee Benefit Plans
 6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
Pension Benefits
The Company’s Pension Plan covers all active employees hired prior to April 1, 2007. Employees hired after March 31, 2007 are not eligible to participate in this plan, but can participate in a defined contribution profit sharing plan that provides an annual contribution at the discretion of the Company, based upon a percentage of the participants’ annual paid compensation. For each of the three-month periods ended June 30, 2026 and 2025, the Company did not make cash contributions to the Pension Plan. The Company expects to make cash contributions of approximately $0.9 million over the remainder of the current year.
Other Benefits
The Company’s Other Benefits Plan covers substantially all of its current retired employees. Employees hired after March 31, 2007 are not eligible to participate in this plan. Coverage includes healthcare and life insurance. For each of the three-month periods ended June 30, 2026 and 2025, the Company did not make cash contributions to its Other Benefits Plan. The Company expects to make additional Other Benefits Plan cash contributions of $1.1 million over the remainder of the current year.
The following tables set forth information relating to the Company’s periodic costs (benefit) for its employee retirement benefit plans:
(In Thousands)
Pension BenefitsOther Benefits
Three Months Ended June 30,
2026202520262025
Service Cost$286 $242 $86 $85 
Interest Cost1,209 1,159 441 430 
Expected Return on Assets(1,591)(1,687)(1,021)(928)
Amortization of Unrecognized Losses (Gains)18 12 (214)(153)
Net Periodic Benefit*$(78)$(274)$(708)$(566)

(In Thousands)
Pension BenefitsOther Benefits
Six Months Ended June 30,
2026202520262025
Service Cost$571 $483 $171 $170 
Interest Cost2,418 2,318 883 860 
Expected Return on Assets(3,181)(3,374)(2,042)(1,856)
Amortization of Unrecognized Losses (Gains)37 25 (428)(307)
Net Periodic Benefit*$(155)$(548)$(1,416)$(1,133)
*Service cost is included Operations and Maintenance expense on the consolidated statements of income; all other amounts are included in Other Income, net.