Quarterly report pursuant to Section 13 or 15(d)

Employee Benefit Plans

v3.21.4
Employee Benefit Plans
9 Months Ended
Sep. 30, 2021
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Employee Benefit Plans
NOTE 15 – Employee Benefit Plans
401(k) Plans
The Company maintains two separate qualified tax deferred 401(k) plans, which cover all employees who meet the one of 401(k) plan’s eligibility requirements. The Company matches up to 100% of each participant’s contribution up to a maximum of 5% of the participant’s eligible compensation.
Postretirement Obligations
Effective with the Business Combinations, the Company sponsors an unfunded defined benefit health care plan that provides postretirement medical benefits to certain legacy Aria full-time employees who meet minimum age and service requirements.
Net periodic benefit cost recognized in the consolidated statements of comprehensive loss following the Business Combinations was as follows:
Three Months Ended September 30, Nine Months Ended September 30,
(in thousands)
2021 2020 2021 2020
Service cost
$ 2 $ $ 2 $
Interest cost
—  — 
Net periodic benefit cost $ 6 $ $ 6 $
Aria Energy LLC  
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]  
Employee Benefit Plans Benefit Plans - Predecessor
401(k) Plan
Aria maintains a qualified tax deferred 401(k) retirement plan (the Plan). Under the provisions of the Plan, substantially all employees meeting minimum age and service requirements are entitled to contribute on a before and after-tax basis a certain percentage of their compensation. Aria matches up to 100% of employees’ first 3% contribution and 50% of the employees’ next 2% contribution. Employees vest immediately in their contributions and Aria’s contribution.
Postretirement Obligations
Aria sponsors an unfunded defined benefit health care plan that provides postretirement medical benefits to certain full-time employees who meet minimum age and service requirements.
Net periodic benefit cost recognized in the consolidated statements of comprehensive income was as follows:
(in thousands) July 1 to September 14, 2021 July 1 to September 30, 2020 January 1 to September 14, 2021 January 1 to September 30, 2020
Service cost $ $ 12  $ 27  $ 36 
Interest cost 19  26  64  77 
Amortization of prior service cost
Recognition of net actuarial loss 17  22  57  66 
Net periodic benefit cost $ 46  $ 63  $ 156  $ 188