Company: MSEX
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001174947-25-000251
Chunk: 570

Company: MIDDLESEX WATER CO
Filing Date: 2025-02-28
Form: 10-K
Item: Item 2
Chunk 570
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    $933  
    $—  
    $— 
  
    Noncurrent Asset 
     (12,030) 
     (1,427) 
     (24,826) 
     (20,352)
  
    Net Asset Recognized 
    $(11,147) 
    $(494) 
    $(24,826) 
    $(20,352)

    (InThousands)

    Pension Plan 
    Other Benefits Plan

    Years Ended December 31,

    2024 
    2023 
    2022 
    2024 
    2023 
    2022
  
    Components of Net Periodic Benefit Cost 

    Service Cost 
    $1,270  
    $1,551  
    $2,362  
    $320  
    $391  
    $799 
  
    Interest Cost 
     4,280  
     4,270  
     3,042  
     1,313  
     1,608  
     1,325 
  
    Expected Return on Plan Assets 
     (6,322) 
     (5,865) 
     (7,041) 
     (3,384) 
     (3,082) 
     (3,547)
  
    Amortization of Net Actuarial Loss (Gain) 
     153  
     658  
     1,674  
     (1,098) 
     (191) 
     — 
  
    Net Periodic Benefit Cost* 
    $(619) 
    $614  
    $37  
    $(2,849) 
    $(1,274) 
    $(1,423)

*Service
cost is included in Operations and Maintenance expense on the consolidated statements of income; all other amounts are included in Other
Income, net.

Amounts that are expected to be amortized from Regulatory Assets into
Net Periodic Benefit Cost in 2025 are as follows:

    (In Thousands)

    Pension
 Plan
      
    Other
Benefits 
Plan
  
    Actuarial Loss (Gain) 
    $50  
    $(1,127)

60 

The discount rate and compensation increase rate for determining our
postretirement benefit plans’ benefit obligations and costs as of and for the years ended December 31, 2024