ESSENTIAL UTILITIES, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements (continued) (In thousands of dollars, except per share amounts)
The changes in the benefit obligation and fair value of plan assets, the funded status of the plans and the assumptions used in the measurement of the company’s benefit obligation are as follows:
Pension Benefits
Other Post-retirement Benefits
2025
2024
2025
2024
Change in benefit obligation: Benefit obligation at January 1,
$
295,036 $ 313,698 $
82,964 $ 91,502
Service cost Interest cost
1,218
1,429
1,488 4,529 1,548
1,453 4,450
15,964
15,632
Actuarial loss/(gain)
4,817
(12,579)
(1,071)
Plan participants' contributions
-
-
44
121
Benefits paid
(26,344)
(23,144)
(3,439)
(7,439)
Plan amendments
137 124
- - -
- -
- -
Curtailments Settlements
(2,791)
(6,052) 82,964
Benefit obligation at December 31,
288,161
295,036
87,134
Change in plan assets: Fair value of plan assets at January 1,
293,652 24,317
312,303
94,250
95,005 11,781
Actual return on plan assets Employer contributions Participants' contributions
(4,959)
9,824
3,945
9,393
-
-
-
-
44
121
Benefits paid Settlements
(26,286)
(23,085)
(3,642)
(6,605) (6,052) 94,250
-
-
-
Fair value of plan assets at December 31,
295,628
293,652
100,476
Funded status of plan: Net asset / (liability) recognized at December 31,
$
7,467 $ (1,384) $
13,342 $ 11,286
The following table provides the net liability recognized on the consolidated balance sheets at December 31: Pension Benefits Other Post-retirement Benefits 2025 2024 2025 2024 Non-current asset $ 25,873 $ 16,475 $ 29,344 $ 29,508 Current liability (18,406) (1,844) (761) (557) Noncurrent liability - (16,015) (15,241) (17,665) Net asset / (liability) recognized $ 7,467 $ (1,384) $ 13,342 $ 11,286
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