ESSENTIAL UTILITIES, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements (continued) (In thousands of dollars, except per share amounts)
The following table provides selected information about plans with accumulated benefit obligation and projected benefit obligation in excess of plan assets:
December 31,
December 31,
2025
2024
Other Post- retirement Benefits
Other Post- retirement Benefits
Pension Benefits
Pension Benefits
Selected information for plans with projected benefit obligation in excess of plan assets: Projected benefit obligation $
$ $
N/A $ N/A $
17,858 $
N/A N/A
18,406
Fair value of plan assets
$
- $
-
Selected information for plans with accumulated benefit obligation in excess of plan assets: Accumulated benefit obligation
$ $
$ $
$ $
15,352 $
18,406
29,231 14,107
30,072
Fair value of plan assets 13,507 The following table provides the components of net periodic benefit costs for the years ended December 31: - - $
Pension Benefits
Other Post-retirement Benefits
2025
2024
2023
2025
2024
2023
Service cost Interest cost
$
1,218 $ 1,429 $ 1,507 $
1,488$ 1,453$ 1,347 4,529 4,450 4,476 (4,282) (4,420) (4,372)
15,964
15,632 16,007 (18,782) (22,223)
Expected return on plan assets Amortization of prior service cost Amortization of actuarial loss (gain) Net periodic benefit cost/(credit)
(17,065)
311
325
684
-
-
-
3,331
3,003 2,962
(1,606) (1,068) (1,317)
$
3,759 $ 1,607 $ (1,063) $
129$ 415$
134
The Company records the underfunded/overfunded status of its pension and other post-retirement benefit plans on its consolidated balance sheets and records a regulatory asset/liability for these costs that would otherwise be charged to stockholders’ equity, as the Company anticipates recoverability of the costs through customer rates to be probable. Changes in the plans’ funded status will affect the assets and liabilities recorded on the balance sheet. Due to the Company’s regulatory treatment, the recognition of the funded status is recorded as a regulatory asset pursuant to the FASB’s accounting guidance for regulated operations.
The following table provides the amounts recognized in regulatory assets and regulatory liabilities that have not been recognized as components of net periodic benefit cost as of December 31:
Pension Benefits
Other Post-retirement Benefits
2025
2024
2025
2024
Net actuarial loss (gain)
$
85,822 $ 92,190 $
(29,383) $
(24,504)
Prior service cost
1,366
1,540
-
-
Total recognized in regulatory assets
$
87,188 $ 93,730 $
(29,383) $
(24,504)
74
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