v3.24.2.u1
Pension and Other Postretirement Benefit Costs
 6 Months Ended
Jun. 30, 2024
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]  
Pension and Other Postretirement Benefit Costs PENSION AND OTHER POSTRETIREMENT BENEFIT COSTS
NW Natural maintains a qualified non-contributory defined benefit pension plan (Pension Plan), non-qualified supplemental pension plans for eligible executive officers and other key employees, and other postretirement employee benefit plans. NW Natural also has a qualified defined contribution plan (Retirement K Savings Plan) for all eligible employees. The Pension Plan and Retirement K Savings Plan have plan assets, which are held in qualified trusts to fund retirement benefits.

The service cost component of net periodic benefit cost for NW Natural pension and other postretirement benefit plans is recognized in operations and maintenance expense in the consolidated statements of comprehensive income. The other non-service cost components are recognized in other income (expense), net in the consolidated statements of comprehensive income.

The following table provides the components of net periodic benefit cost (credit) for the pension and other postretirement benefit plans:
 Three Months Ended June 30,Six Months Ended June 30,
Pension BenefitsOther Postretirement
Benefits		Pension BenefitsOther
Postretirement Benefits
In thousands20242023202420232024202320242023
Service cost$979 $1,049 $24 $28 $1,959 $2,098 $49 $56 
Interest cost5,159 5,218 247 248 10,319 10,436 495 496 
Expected return on plan assets(5,936)(6,210)— — (11,871)(12,871)— — 
Amortization of net actuarial loss1,496 140 — — 2,991 279 — — 
Net periodic benefit cost (credit)1,698 197 271 276 3,398 (58)544 552 
Amount allocated to construction(476)(439)(10)(9)(901)(913)(18)(20)
Net periodic benefit cost (credit) charged to expense1,222 (242)261 267 2,497 (971)526 532 
Amortization of regulatory balancing account1,281 1,281 — — 4,082 4,082 — — 
Net amount charged to expense$2,503 $1,039 $261 $267 $6,579 $3,111 $526 $532 

Net periodic benefit costs are reduced by amounts capitalized to NGD plant. In addition, net periodic benefit costs were recorded to a regulatory balancing account as approved by the OPUC and amortized accordingly.
The following table presents amounts recognized in accumulated other comprehensive loss (AOCL) and the changes in AOCL related to non-qualified employee benefit plans:
Three Months Ended June 30,Six Months Ended June 30,
In thousands2024202320242023
Beginning balance$(7,359)$(6,312)$(7,237)$(6,414)
Amounts reclassified to AOCL— — (183)— 
Amounts reclassified from AOCL:
Amortization of actuarial losses207 140 380 279 
Total reclassifications before tax207 140 197 279 
Tax expense (benefit)60 (37)(52)(74)
Total reclassifications for the period267 103 145 205 
Ending balance$(7,092)$(6,209)$(7,092)$(6,209)

Employer Contributions to Company-Sponsored Defined Benefit Pension Plans
NW Natural made $3.4 million of cash contributions to its qualified defined benefit pension plans during the six months ended June 30, 2024 and no cash contributions during the six months ended June 30, 2023. NW Natural expects to make cash contributions of approximately $17.2 million to the Pension Plan during the remainder of 2024.

Defined Contribution Plan
NW Natural's Retirement K Savings Plan is a qualified defined contribution plan under Internal Revenue Code Sections 401(a) and 401(k). NW Natural contributions totaled $5.8 million and $5.9 million for the six months ended June 30, 2024 and 2023, respectively.

See Note 10 in the 2023 Form 10-K for more information concerning these retirement and other postretirement benefit plans.