Pensions and Other Employee Benefit Plans

6 Months Ended

Jun. 30, 2015

Pensions and Other Employee Benefit Plans [Abstract]

Pensions and Other Employee Benefit Plans

12. Pensions and Other Employee Benefit Plans

The following tables provide the components of net periodic cost included in general and administrative expenses for our qualified retirement plan (the “Pension Benefits”) and health care and life insurance benefits for retired employees and dependents (the “Other Benefits”) for the three and six months ended June 30, 2015 and 2014 (in thousands):

	Pension Benefits Three Months Ended June 30,				Other Benefits Three Months Ended June 30,
	2015		2014		2015		2014
Service cost	$	197	$	41	$	1	$	—
Interest cost		475		468		15		18
Expected return on plan assets		(516)		(473)		—		—
Recognition due to settlement		—		—		272		—
Amortization of net actuarial loss		193		93		14		7
Amortization of prior service credits		—		—		2		3
Net periodic cost	$	349	$	129	$	304	$	28

	Pension Benefits Six Months Ended June 30,				Other Benefits Six Months Ended June 30,
	2015		2014		2015		2014
Service cost	$	256	$	82	$	1	$	1
Interest cost		948		937		27		35
Expected return on plan assets		(1,054)		(947)		—		—
Recognition due to settlement		—		—		428		—
Amortization of net actuarial loss		398		186		22		15
Amortization of prior service credits		—		—		5		5
Net periodic cost	$	548	$	258	$	483	$	56

Effective January 1, 2015, retiree medical coverage for retirees age 65 or over and their dependents was discontinued. In January 2015, the Company made discretionary one-time payments to retirees affected to assist them in purchasing alternate coverage. In August 2015, the Company is making discretionary one-time payments of $0.8 million to other participants to settle the remaining liability for retiree medical coverage applicable to benefits at age 65 and later. The effect on postretirement benefit expense for the three and six months ended June 30, 2015 of the one-time payments to participants is included in the table above as recognition due to settlement.