Alpha Metallurgical Resources Inc
For the period ended Mar 31, 2024. Filed May 6, 2024.
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Mar 31, 2024 · Filed May 6, 2024
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(12) Employee Benefit Plans
The components of net periodic benefit cost other than the service cost component for black lung are included in the line item miscellaneous (expense) income, net in the Condensed Consolidated Statements of Operations.
Pension
The following table details the components of the net periodic benefit cost for pension obligations:
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Interest cost | $5,749 | $5,958 |
| Expected return on plan assets | (5,742) | (5,484) |
| Amortization of net actuarial loss | 298 | 137 |
| Net periodic benefit cost | $305 | $611 |
The Company expects to pay $12,320 in minimum required contributions to the pension plan in 2024.
Black Lung
The following table details the components of the net periodic benefit cost for black lung obligations:
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Service cost | $601 | $513 |
| Interest cost | 1,307 | 1,165 |
| Expected return on plan assets | (13) | (13) |
| Amortization of net actuarial loss (gain) | 721 | (708) |
| Net periodic benefit cost | $2,616 | $957 |
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