Company: PRSU
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0000950170-25-040127
Chunk: 84

Company: Pursuit Attractions & Hospitality, Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 1B
Chunk 84
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 trust for certain employees which are funded by the companies, and unfunded defined benefit pension plans providing supplemental benefits to select management employees. These plans use traditional defined benefit formulas based on years of service and final average compensation. Funding policies provide that payments to defined benefit pension trusts shall be at least equal to the minimum funding required by applicable regulations. During 2024, we communicated the termination of the Retirement Plan for Management Employees of Brewster Inc, which was frozen in 2024, to applicable participants. The termination of the plan, which had $5.5 million in assets and $5.5 million in estimated obligations on a termination accounting basis as of December 31, 2024, is expected to be completed in the second half of 2025.The components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss) included the following:

        December 31,

        (in thousands)
         
        2024

        2023

        2022

        Net periodic benefit cost:

        Service cost
         
        $
        201

        $
        176

        $
        281

        Interest cost

        308

        335

        307

        Expected return on plan assets

        (315
        )

        (330
        )

        (375
        )

        Recognized net actuarial loss

        95

        105

        105

        Settlement

        —

        —

        594

        Net periodic benefit cost

        289

        286

        912

        Other changes in plan assets and benefit obligations recognized in other    comprehensive income (loss):

        Net actuarial (income) loss

        (282
        )

        5

        (487
        )

        Prior service credit

        42

        —

        —

        Net actuarial loss

        (95
        )

        (105
        )

        (105
        )

        Total recognized in other comprehensive income

        (335
        )

        (100
        )

        (592
        )

        Total recognized in net periodic benefit cost and other    comprehensive income (loss)
         
        $
        (46
        )
         
        $
        186

        $
        320

63

PURSUIT ATTRACTIONS AND HOSPITALITY, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

 The following table represents