v3.26.1
Postretirement Benefits (Tables)
 6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Schedule of Pension Plan Cost
Pension plan cost includes the following components:
Three months ended June 30,Six months ended June 30,
(in thousands)2026202520262025
Service cost for benefits earned$9,591 $8,862 $19,181 $17,724 
Interest cost on benefit obligation15,513 14,676 31,027 29,351 
Expected return on plan assets(19,889)(20,069)(39,778)(40,138)
Prior service cost amortization458 422 916 844 
Net actuarial gain amortization(68)(655)(135)(1,309)
Settlement gain (1)
— — — (477)
Pension plan cost (2)
$5,605 $3,236 $11,211 $5,995 
(1)Settlement accounting was required due to lump sum payments made under the SERP to former officers in 2025.
(2)Pension plan cost represents total plan cost before reimbursements between Indemnity and the Exchange and its insurance subsidiaries. The components of pension plan cost other than the service cost components are included in the line item "Other income" in the Consolidated Statements of Operations, net of reimbursements between Indemnity and the Exchange and its insurance subsidiaries.