| Schedule of Recurring and Nonrecurring Fair Value Measurements |
The
following table summarizes recurring and nonrecurring fair value measurements by level at December 31, 2023 (in thousands):
| |
|
Fair
Value |
|
|
Level
1 |
|
|
Level
2 |
|
|
Level
3 |
|
|
Benefit
Plan
Percentage
Allocation |
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative
financial instruments |
|
$ |
2,412 |
|
|
$ |
2,412 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
Defined benefit plan
assets(1) (pooled separate accounts): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Large U.S. Equity(2) |
|
|
5,608 |
|
|
|
— |
|
|
|
5,608 |
|
|
|
— |
|
|
|
30 |
% |
| Small/Mid U.S. Equity(3) |
|
|
3,350 |
|
|
|
— |
|
|
|
3,350 |
|
|
|
— |
|
|
|
18 |
% |
| International Equity(4) |
|
|
2,682 |
|
|
|
— |
|
|
|
2,682 |
|
|
|
— |
|
|
|
15 |
% |
| Fixed Income(5) |
|
|
6,845 |
|
|
|
— |
|
|
|
6,845 |
|
|
|
— |
|
|
|
37 |
% |
| |
|
$ |
20,897 |
|
|
$ |
2,412 |
|
|
$ |
18,485 |
|
|
$ |
— |
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative
financial instruments |
|
$ |
13,849 |
|
|
$ |
13,849 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Benefit Plan |
|
| |
|
Fair |
|
|
|
|
|
|
|
|
|
|
|
Percentage |
|
| |
|
Value |
|
|
Level
1 |
|
|
Level
2 |
|
|
Level
3 |
|
|
Allocation |
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative
financial instruments |
|
$ |
4,973 |
|
|
$ |
4,973 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
— |
|
|
Defined benefit plan
assets(1) (pooled separate accounts): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Large U.S. Equity(2) |
|
|
4,586 |
|
|
|
— |
|
|
|
4,586 |
|
|
|
— |
|
|
|
28 |
% |
| Small/Mid U.S. Equity(3) |
|
|
2,986 |
|
|
|
— |
|
|
|
2,986 |
|
|
|
— |
|
|
|
18 |
% |
| International Equity(4) |
|
|
2,406 |
|
|
|
— |
|
|
|
2,406 |
|
|
|
— |
|
|
|
14 |
% |
| Fixed Income(5) |
|
|
6,710 |
|
|
|
— |
|
|
|
6,710 |
|
|
|
— |
|
|
|
40 |
% |
| |
|
$ |
21,661 |
|
|
$ |
4,973 |
|
|
$ |
16,688 |
|
|
$ |
— |
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative
financial instruments |
|
$ |
6,732 |
|
|
$ |
6,732 |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
| (1) |
See Note 11 for accounting discussion. |
| (2) |
This category includes investments in funds comprised of equity securities of large U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. |
| (3) |
This category includes investments in funds comprised of equity securities of small- and medium-sized U.S. companies. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. |
| (4) |
This category includes investments in funds comprised of equity securities of foreign companies, including emerging markets. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. |
| (5) |
This category includes investments in funds comprised of U.S. and foreign investment-grade fixed income securities, high-yield fixed income securities that are rated below investment-grade, U.S. treasury securities, mortgage-backed securities, and other asset-backed securities. The funds are valued using the net asset value method in which an average of the market prices for the underlying investments is used to value the fund. |
|