Schedule of the amounts recognized in the consolidated balance sheets

The following table provides the amounts recognized in the consolidated balance sheets as of December 31, 2025 and 2024 (in thousands):


	Pension Benefits
	2025			2024
Non-current assets:
Accrued benefit asset	$	22,369		$	19,879
Pension liability
Accrued current benefit liability		—			(1,556	)
Accrued benefit liability		(22,455	)		(1,993	)
Accumulated other comprehensive loss		3,870			19,489
Net amount recognized	$	3,784		$	35,819

Schedule of net periodic pension cost

Net periodic pension cost for the plans consisted of the following for the three months ended March 31, 2026 and 2025 (in thousands):


	Three Months Ended March 31,
	2026			2025
Service cost	$	999		$	1,068
Interest cost		2,181			2,094
Expected return on plan assets		(2,969	)		(3,251	)
Amortization of prior service cost		20			20
Amortization of net loss		—			326
Net periodic pension cost	$	231		$	257

Net periodic pension cost for the plans consisted of the following in 2025, 2024, and 2023 (in thousands):


	Pension Benefits
	2025			2024			2023
Service cost	$	4,270		$	3,659		$	3,794
Interest cost		8,377			8,302			7,974
Expected return on plan assets		(10,187	)		(12,544	)		(12,428	)
Amortization of prior service cost		82			265			500
Amortization of net loss (gain)		2,030			61			(188	)
Net periodic pension (benefit) cost	$	4,572		$	(257	)	$	(348	)

Schedule of fair values of plan by asset category

The fair values by asset category in each pension plan, along with their hierarchy levels, are as follows as of December 31, 2025 (in thousands):


	Hecla plan				Lucky Friday
	Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
Investments measured at fair value
Interest-bearing cash	$568	$—	$—	$568	$156	$—	$—	$156
Common stock	7	—	—	7	—	—	—	—
Mutual funds	78,805	—	—	78,805	18,574	—	—	18,574
Total investments in the fair value hierarchy	79,380	—	—	79,380	18,730	—	—	18,730
Investments measured at net asset value
Real estate funds	—	—	—	18,585	—	—	4,348	4,348
Common collective funds	—	—	—	38,356	—	5,270	3,435	8,705
Total investments measured at net asset value	—	—	—	56,941	—	5,270	7,783	13,053
Total fair value	$79,380	$—	$—	$136,321	$18,730	$5,270	$7,783	$31,783

The fair values by asset category in each defined benefit pension plan, along with their hierarchy levels, were as follows as of December 31, 2024 (in thousands):


	Hecla plans				Lucky Friday
	Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
Investments measured at fair value
Interest-bearing cash	$2,699	$—	$—	$2,699	$123	$—	$—	$123
Common stock	18,874	—	—	18,874	2,932	—	—	2,932
Mutual funds	87,823	—	—	87,823	13,016	—	—	13,016
Total investments in the fair value hierarchy	109,396	—	—	109,396	16,071	—	—	16,071
Investments measured at net asset value
Real estate funds	—	—	—	16,318	—	—	—	3,698
Common collective funds	—	—	—	31,688	—	—	—	7,163
Total investments measured at net asset value	—	—	—	48,006	—	—	—	10,861
Total fair value	$109,396	$—	$—	$157,402	$16,071	$—	$—	$26,932

Schedule of indication of whether pension plans had accumulated benefit obligations (ABO) in excess of plan assets, or plan assets exceeded ABO

The following table indicates whether our pension plans had accumulated benefit obligations (“ABO”) in excess of plan assets, or plan assets exceeded ABO. In 2025, one of our plans had ABOs in excess of plan assets. During 2024 two of our plans had plan assets in excess of the ABO and one did not (in thousands).


	2025		2025		2024		2024
	Plan Assets Exceed ABO		ABO Exceed Plan Assets		Plan Assets Exceed ABO		ABO Exceed Plan Assets
Projected benefit obligation	$	145,736	$	22,454	$	48,251	$	119,753
Accumulated benefit obligation		142,230		21,834		47,262		116,148
Fair value of plan assets		168,104		—		66,573		117,761