XML 37 R23.htm IDEA: XBRL DOCUMENT v3.8.0.1
Employee Benefit Plans
 9 Months Ended
Sep. 30, 2017
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]  
Employee Benefit Plans
Employee Benefit Plans
The following table details the components of pension benefit costs (credits):
 
Successor
Predecessor
 
Successor
Predecessor
 
Three Months Ended September 30, 2017
Three Months Ended September 30, 2016
 
Nine Months Ended September 30, 2017
Nine Months Ended September 30, 2016
(In thousands)
 
 
 
 
 
Interest cost
$
2,736

$
2,803

 
$
8,718

$
9,338

Expected return on plan assets
(3,913
)
(4,641
)
 
(12,909
)
(13,623
)
Pension settlement
(229
)
—

 
(716
)
454

Amortization of other actuarial losses
—

2,292

 
—

3,973

Net benefit cost (credit)
$
(1,406
)
$
454

 
$
(4,907
)
$
142


 
During the third quarter of 2017 the Company recorded a pension settlement related to its cash balance pension plan as the qualifying distributions from the plan exceeded the annual service and interest costs of the plan. Additionally, due to the pension settlement, the Company revalued the cash balance pension liability which reduced the liability by approximately $4.3 million with the offset to accumulated other comprehensive income. The discount rate used for the revaluation was 3.60%.

The following table details the components of other postretirement benefit costs (credits):
 
Successor
Predecessor
 
Successor
Predecessor
 
Three Months Ended September 30, 2017
Three Months Ended September 30, 2016
 
Nine Months Ended September 30, 2017
Nine Months Ended September 30, 2016
(In thousands)
 
 
 
 
 
Service cost
$
170

$
128

 
$
511

$
393

Interest cost
1,058

951

 
3,175

3,223

Curtailments
(520
)
—

 
(520
)
(970
)
Amortization of prior service credits
—

(2,509
)
 
—

(7,854
)
Amortization of other actuarial losses (gains)
—

283

 
—

(849
)
Net benefit cost (credit)
$
708

$
(1,147
)
 
$
3,166

$
(6,057
)


The curtailment reflected in three and nine months ended September 30, 2017 was related to the divestiture during the quarter and therefore was included in the line item, “Gain on sale of Lone Mountain Processing, Inc.,” within the Condensed Consolidated Statement of Operations. For additional information on the sale, please see Note 4, “Divestitures,” to the Condensed Consolidated Financial Statements.

Additionally, due to the curtailment discussed above, the Company revalued the postretirement health benefit liability which increased the liability by approximately $3.8 million with the offset to accumulated other comprehensive income. The discount rate used for the revaluation was 3.59%.