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Postretirement Benefits Other than Pensions (Tables)
12 Months Ended
Dec. 31, 2013
Change in Benefit Obligation of the Postretirement Plans to the Accrued Postretirement Liability

The following table reconciles the change in benefit obligation of the postretirement plans to the accrued postretirement liability as reflected in other liabilities in the accompanying consolidated balance sheets at December 31 (amounts in thousands):

 

     2013     2012  

Benefit obligation at beginning of year

   $ 8,747      $ 24,621   

Service cost

     —          42   

Interest cost

     194        790   

Actuarial loss

     319        958   

Amendments

     (2,828     (16,508

Benefits paid

     (584     (1,156
  

 

 

   

 

 

 

Benefit obligation at end of year

   $ 5,848      $ 8,747   
  

 

 

   

 

 

 
Pension Plans, Defined Benefit [Member]
 
Net Periodic Pension Expense

Net periodic pension expense reflected in the accompanying consolidated statements of operations included the following components for the years ended December 31 (amounts in thousands):

 

     2013     2012     2011  

Interest cost

   $ 3,376      $ 3,655      $ 4,151   

Expected return on plan assets

     (5,197     (4,808     (5,280

Recognized net actuarial loss

     839        3,611        2,404   

Net settlement loss

     1,878        1,960        —     
  

 

 

   

 

 

   

 

 

 

Total net periodic pension expense

   $ 896      $ 4,418      $ 1,275   
  

 

 

   

 

 

   

 

 

 
Expected Future Benefit Payments

Company expects to make the following estimated future benefit payments under the plan during the years ending December 31 (amounts in thousands):

 

2014

   $ 2,834   

2015

     4,385   

2016

     3,955   

2017

     4,206   

2018

     5,130   

2019 - 2023

     27,403   
Pension Plans, Defined Benefit [Member] | Benefit Obligation [Member]
 
Weighted Average Assumptions

The weighted-average assumptions used to determine the benefit obligation at December 31 are as follows:

 

     2013     2012     2011  

Discount rate

     4.49     3.60     4.13

Rate of compensation increase

     N/A        N/A        N/A   

Measurement date

     12/31/2013        12/31/2012        12/31/2011   
Pension Plans, Defined Benefit [Member] | Pension Expense [Member]
 
Weighted Average Assumptions

The weighted-average assumptions used to determine the net periodic pension expense for years ended December 31 are as follows:

 

     2013     2012     2011  

Discount rate

     3.85     3.98     5.28

Rate of compensation increase

     N/A        N/A        N/A   

Expected long-term rate of return on plan assets

     7.50     7.50     8.00

Measurement date

     12/31/2013        12/31/2012        12/31/2011   
Other Postretirement Benefit Plans, Defined Benefit [Member]
 
Net Periodic Pension Expense

Net postretirement benefit expense reflected in the accompanying consolidated statements of operations included the following components for the years ended December 31 (amounts in thousands):

 

     2013     2012     2011  

Service cost

   $ —        $ 42      $ 46   

Interest cost

     194        790        1,052   

Amortization of net actuarial loss

     477        491        2   

Amortization of prior service credit

     (1,331     (682     (678

Curtailment gain

     —          (310     —     
  

 

 

   

 

 

   

 

 

 

Net postretirement benefit expense

   $ (660   $ 331      $ 422   
  

 

 

   

 

 

   

 

 

 

Expected Future Benefit Payments

The Company expects to contribute $0.6 million to the plan in 2014. Based on the Company’s assumptions discussed above, the Company expects to make the following estimated future benefit payments under the plan during the years ending December 31 (amounts in thousands):

 

2014

   $ 623   

2015

     593   

2016

     564   

2017

     537   

2018

     497   

2019-2023

     2,042   
Other Postretirement Benefit Plans, Defined Benefit [Member] | Benefit Obligation [Member]
 
Weighted Average Assumptions

The weighted-average assumptions used to determine the benefit obligation at December 31 are as follows:

 

     2013     2012     2011  

Discount rate

     3.94     3.08     4.21

Measurement date

     12/31/2013        12/31/2012        12/31/2011   
Other Postretirement Benefit Plans, Defined Benefit [Member] | Postretirement Benefit Expense[Member]
 
Weighted Average Assumptions

The weighted-average assumptions used to determine the net postretirement benefit expense for years ended December 31 are as follows:

 

     2013     2012     2011  

Discount rate

     3.08     3.92     5.29

Measurement date

     12/31/2013        12/31/2012        12/31/2011