Employee Postretirement Benefits (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Net Periodic Benefit Cost (Income)

The following tables include the components of net periodic benefit cost (income) related to our defined benefit pension plans and other postretirement benefits for the three and six months ended June 30, 2025 and 2024:



	Three Months Ended June 30,
	Pension Benefits (Pension Plan)				Pension Benefits (ESSRP)				Postretirement Benefits
(in thousands)	2025		2024		2025		2024		2025		2024

Service Cost	$	875	$	971	$	—	$	—	$	122	$	122
Interest Cost	4,326		4,297		473		474		402		400
Expected Return on Assets	(6,191)		(6,379)		—		—		—		—
Amortization of Prior Service Cost	—		—		—		—		(949)		(1,575)
Amortization of Net Actuarial Loss	336		39		—		—		—		—
Net Periodic Benefit Cost (Income)	$	(654)	$	(1,072)	$	473	$	474	$	(425)	$	(1,053)

	Six Months Ended June 30,
	Pension Benefits (Pension Plan)				Pension Benefits (ESSRP)				Postretirement Benefits
(in thousands)	2025		2024		2025		2024		2025		2024

Service Cost	$	1,751	$	1,943	$	—	$	—	$	245	$	245
Interest Cost	8,652		8,594		947		948		805		800
Expected Return on Assets	(12,382)		(12,759)		—		—		—		—
Amortization of Prior Service Cost	—		—		—		—		(1,898)		(3,151)
Amortization of Net Actuarial Loss	671		79		—		—		—		—
Net Periodic Benefit Cost (Income)	$	(1,308)	$	(2,143)	$	947	$	948	$	(848)	$	(2,106)

The following table includes the impact of regulation on the recognition of periodic benefit cost (income) arising from pension and other postretirement benefits for the three and six months ended June 30, 2025 and 2024:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2025		2024		2025		2024

Net Periodic Benefit Cost (Income)	$	(606)	$	(1,651)	$	(1,209)	$	(3,301)
Net Amount Amortized Due to the Effect of Regulation	749		356		1,069		659
Net Periodic Benefit Cost (Income) Recognized	$	143	$	(1,295)	$	(140)	$	(2,642)

Otter Tail Corp 10-Q