Benefit Plans (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Retirement Benefits [Abstract] |
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| Benefit Plans Disclosures |
The following tables summarize changes in the benefit obligation, plan assets and funded status of the Company’s defined benefit pension plans and other postretirement benefit plan:
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Defined Benefit Pension Plans |
|
Other Postretirement Benefit Plan |
|
December 31, |
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December 31, |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
| Change in benefit obligation: |
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| Benefit obligation at beginning of period |
$ |
61,721 |
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|
$ |
66,556 |
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|
$ |
463 |
|
|
$ |
475 |
|
|
|
|
|
|
|
|
|
| Interest cost |
3,278 |
|
|
3,227 |
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|
26 |
|
|
24 |
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|
|
|
|
|
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| Plan settlements |
(1,013) |
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|
(1,348) |
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|
— |
|
|
— |
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| Benefits paid |
(3,464) |
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|
(3,254) |
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— |
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— |
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|
|
|
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| Premiums paid |
— |
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|
— |
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|
(3) |
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|
(3) |
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| Actuarial loss (gain) |
1,529 |
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|
(3,460) |
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|
2 |
|
|
(33) |
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| Benefit obligation at end of the period |
62,051 |
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|
61,721 |
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|
488 |
|
|
463 |
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| Change in plan assets: |
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| Fair value of plan assets at beginning of period |
$ |
59,689 |
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|
$ |
61,618 |
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|
$ |
— |
|
|
$ |
— |
|
| Actual return on plan assets |
6,066 |
|
|
1,048 |
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|
— |
|
|
— |
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| Employer contributions |
480 |
|
|
1,625 |
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|
3 |
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|
3 |
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|
|
|
|
|
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| Plan settlements |
(1,013) |
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|
(1,348) |
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— |
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|
— |
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| Benefits paid |
(3,464) |
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|
(3,254) |
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|
— |
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|
— |
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|
|
|
|
|
|
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| Premiums paid |
— |
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|
— |
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|
(3) |
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|
(3) |
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| Fair value of plan assets at end of the period |
61,758 |
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|
59,689 |
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|
— |
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|
— |
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| Funded status of the plans (underfunded) |
$ |
(293) |
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$ |
(2,032) |
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$ |
(488) |
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$ |
(463) |
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| Amounts Recognized in Balance Sheet |
Amounts recognized in the consolidated balance sheets consist of:
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Defined Benefit Pension Plans |
|
Other Postretirement Benefit Plan |
|
December 31, |
|
December 31, |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
| Noncurrent asset |
$ |
1,043 |
|
|
$ |
90 |
|
|
$ |
— |
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|
$ |
— |
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| Current liability |
— |
|
|
— |
|
|
(22) |
|
|
(20) |
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| Noncurrent liability |
(1,337) |
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|
(2,122) |
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|
(466) |
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|
(443) |
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| AOCI, net of tax |
2,374 |
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|
1,386 |
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|
76 |
|
|
81 |
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| Net amount recognized |
$ |
2,080 |
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|
$ |
(646) |
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$ |
(412) |
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$ |
(382) |
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| Amounts Recognized in Other Comprehensive Income (Loss) |
Amounts recognized in AOCI consist of:
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|
Defined Benefit Pension Plans |
|
Other Postretirement Benefit Plan |
|
December 31, |
|
December 31, |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
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| Net gain |
$ |
3,143 |
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|
$ |
1,849 |
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|
$ |
101 |
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|
$ |
107 |
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| Gross amount recognized |
3,143 |
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|
1,849 |
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|
101 |
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|
107 |
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| Deferred income taxes |
(769) |
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|
(463) |
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|
(25) |
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|
(26) |
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| Net amount recognized |
$ |
2,374 |
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|
$ |
1,386 |
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|
$ |
76 |
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$ |
81 |
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| Net Periodic Expense |
Components of net periodic (benefit) expense consist of:
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Defined Benefit Pension Plans |
|
Other Postretirement Benefit Plan |
|
Years ended December 31, |
|
Years ended December 31, |
|
2025 |
|
2024 |
|
2023 |
|
2025 |
|
2024 |
|
2023 |
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| Interest cost |
$ |
3,278 |
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$ |
3,227 |
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$ |
3,453 |
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$ |
26 |
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|
$ |
24 |
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$ |
24 |
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| Expected return on plan assets |
(3,234) |
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|
(3,367) |
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|
(3,305) |
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|
— |
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— |
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|
— |
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| Amortization of prior service credit |
— |
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|
— |
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|
— |
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— |
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(30) |
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|
(125) |
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| Amortization of net (gain) loss |
— |
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— |
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— |
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(4) |
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(2) |
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(2) |
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| Settlement (gain) loss |
(1) |
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(6) |
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|
61 |
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— |
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— |
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|
— |
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| Net periodic (benefit) expense |
$ |
43 |
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|
$ |
(146) |
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$ |
209 |
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$ |
22 |
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$ |
(8) |
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$ |
(103) |
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| Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) |
Components of other changes in plan assets and benefit obligations recognized in other comprehensive income consists of:
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|
Defined Benefit Pension Plans |
|
Other Postretirement Benefit Plan |
|
December 31, |
|
December 31, |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
|
|
|
|
|
|
|
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| Net (gain) loss |
$ |
(1,297) |
|
|
$ |
(1,136) |
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|
$ |
2 |
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|
$ |
(33) |
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| Amortization of prior service credit |
— |
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|
— |
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|
— |
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|
30 |
|
| Amortization or settlement recognition of net gain |
1 |
|
|
6 |
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|
4 |
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|
2 |
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| Total recognized in other comprehensive (income) loss |
(1,296) |
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|
(1,130) |
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|
6 |
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|
(1) |
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| Total recognized in net periodic benefit cost and other comprehensive (income) loss |
$ |
(1,258) |
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|
$ |
(1,280) |
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$ |
28 |
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|
$ |
(9) |
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| Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets |
The following table presents selected information about the Company’s pension plans with projected benefit obligations and accumulated benefit obligations in excess of plan assets:
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|
Defined Benefit Pension Plans |
|
Other Postretirement Benefit Plan |
|
|
December 31, |
|
December 31, |
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
| Projected benefit obligation |
|
$ |
17,791 |
|
|
$ |
18,305 |
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|
$ |
488 |
|
|
$ |
463 |
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| Accumulated benefit obligation |
|
17,791 |
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|
18,305 |
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|
— |
|
|
— |
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| Fair value of plan assets |
|
16,454 |
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|
16,183 |
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|
— |
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|
— |
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| Assumptions Used |
Significant weighted average assumptions used in determining the pension obligations include the following:
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|
Defined Benefit Pension Plans |
|
Other Postretirement Benefit Plan |
|
December 31, |
|
December 31, |
|
2025 |
|
2024 |
|
2025 |
|
2024 |
| Discount rate |
5.40 |
% |
|
5.67 |
% |
|
5.50 |
% |
|
5.70 |
% |
| Rate of compensation increase |
N/A |
|
N/A |
|
N/A |
|
N/A |
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|
Defined Benefit Pension Plans |
|
Other Postretirement Benefit Plan |
|
Years ended December 31, |
|
Years ended December 31, |
|
2025 |
|
2024 |
|
2023 |
|
2025 |
|
2024 |
|
2023 |
| Discount rate |
5.47 |
% |
|
5.23 |
% |
|
5.39 |
% |
|
5.70 |
% |
|
5.20 |
% |
|
5.50 |
% |
| Expected return on assets |
5.69 |
% |
|
5.76 |
% |
|
5.74 |
% |
|
— |
% |
|
— |
% |
|
— |
% |
| Rate of compensation increase |
N/A |
|
N/A |
|
N/A |
|
N/A |
|
N/A |
|
N/A |
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| Allocation of Plan Assets |
The following tables set forth by level, within the fair value hierarchy, plan assets at fair value:
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December 31, 2025 |
|
Total |
|
Level 1 |
|
Level 2 |
|
Level 3 |
| Cash and cash equivalents |
$ |
298 |
|
|
$ |
298 |
|
|
$ |
— |
|
|
$ |
— |
|
| Equity securities: |
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|
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| Domestic stocks |
8,430 |
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|
8,430 |
|
|
— |
|
|
— |
|
| International stocks |
5,558 |
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|
5,558 |
|
|
— |
|
|
— |
|
| Fixed income securities: |
|
|
|
|
|
|
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| Treasury funds |
12,209 |
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|
12,209 |
|
|
— |
|
|
— |
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| Corporate and other bonds |
35,263 |
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|
35,263 |
|
|
— |
|
|
— |
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| Total |
$ |
61,758 |
|
|
$ |
61,758 |
|
|
$ |
— |
|
|
$ |
— |
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|
|
|
|
|
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December 31, 2024 |
|
Total |
|
Level 1 |
|
Level 2 |
|
Level 3 |
| Cash and cash equivalents |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
| Equity securities: |
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|
|
|
|
|
| Domestic stocks |
8,248 |
|
|
8,248 |
|
|
— |
|
|
— |
|
| International stocks |
5,335 |
|
|
5,335 |
|
|
— |
|
|
— |
|
| Fixed income securities: |
|
|
|
|
|
|
|
| Treasury funds |
11,853 |
|
|
11,853 |
|
|
— |
|
|
— |
|
| Corporate and other bonds |
34,253 |
|
|
34,253 |
|
|
— |
|
|
— |
|
| Total |
$ |
59,689 |
|
|
$ |
59,689 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
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| Expected Benefit Payments |
The following benefit payments, which reflect expected future service as appropriate, are expected to be paid:
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| Year |
Defined Benefit Pension Plans |
|
Other Postretirement Benefit Plan |
| 2026 |
$ |
7,186 |
|
|
$ |
22 |
|
| 2027 |
4,671 |
|
|
24 |
|
| 2028 |
4,813 |
|
|
25 |
|
| 2029 |
4,660 |
|
|
27 |
|
| 2030 |
5,149 |
|
|
29 |
|
| 2031-2035 |
21,801 |
|
|
177 |
|
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|
|
|
|