Pension Plan and Postretirement Benefits Other Than Pension (Tables)

12 Months Ended

Dec. 31, 2014

Pension Plan and Postretirement Benefits Other Than Pension

Schedule of changes in net funded status, disclosure of amounts recognized in the balance sheet, and the assumptions used to determine the benefit obligation

	Pension Benefits						Other Postretirement Benefits
	2014		2013		2012		2014		2013		2012
	(in thousands)
Change in projected benefit obligation:
Net benefit obligation at beginning of year	$	172,105		184,165		148,412		8,172		8,792		8,145
Service cost		10,084		11,011		9,373		719		788		693
Interest cost		8,395		7,711		7,570		397		361		400
Benefits paid		(8,733)		(19,283)		(5,760)		(527)		(283)		(560)
Actuarial (gain) loss		26,410		(11,499)		24,570		760		(1,807)		(223)
Plan amendments		(176)		—		—		—		—		—
Retiree contributions		—		—		—		381		321		337
Net benefit obligation at end of year	$	208,085		172,105		184,165		9,902		8,172		8,792

Schedule of pension plan asset allocation

	Pension Benefits						Other Postretirement Benefits
	2014		2013		2012		2014		2013		2012
	(in thousands)
Change in plan assets:
Fair value of plan assets at beginning of year	$	170,430		133,911		103,404		—		—		—
Actual return on plan assets		(6,149)		38,802		21,267		—		—		—
Employer contributions		20,000		17,000		15,000		146		(38)		223
Retiree contributions		—		—		—		381		321		337
Benefits paid		(8,733)		(19,283)		(5,760)		(527)		(283)		(560)
Fair value of plan assets at end of year	$	175,548		170,430		133,911		—		—		—
Funded status at end of year	$	(32,537)	$	(1,675)		(50,254)		(9,902)		(8,172)		(8,792)

	Pension Benefits						Other Postretirement Benefits
	2014		2013		2012		2014		2013		2012
	(in thousands, except percentage data)
Amounts recognized in the statement of financial position:
Current liabilities	$	—		—		—		(279)		(260)		(304)
Noncurrent liabilities		(32,537)		(1,675)		(50,254)		(9,623)		(7,912)		(8,488)
Net amount recognized at end of year	$	(32,537)		(1,675)		(50,254)		(9,902)		(8,172)		(8,792)
Amounts not yet reflected in net periodic benefit cost and included in accumulated other comprehensive income:
Transition obligation	$	(21)		(27)		(32)		—		—		—
Prior service cost		(1,179)		(1,822)		(2,377)		(17)		(72)		(127)
Accumulated gain (loss)		(75,681)		(30,602)		(74,286)		265		1,041		(765)
Accumulated other comprehensive income (loss)		(76,881)		(32,451)		(76,695)		248		969		(892)
Cumulative employer contributions in excess of net periodic benefit cost		44,344		30,776		26,441		(10,150)		(9,141)		(7,900)
Net amount recognized at end of year	$	(32,537)		(1,675)		(50,254)		(9,902)		(8,172)		(8,792)
Weighted average assumptions used to determine benefit obligation at December 31:
Discount rate		4.13%		4.97%		4.22%		4.07%		4.94%		4.18%
Rate of compensation increase		5.12%		5.12%		3.99%		Not applicable

Summary of entity's pension plan assets

Plan assets by category	Percentage of Plan Assets at December 31, 2014		Percentage of Plan Assets at December 31, 2013
Cash		23%		18%
Equity securities:
Domestic		51%		33%
International		17%		40%
Fixed income securities		1%		1%
Private equity		1%		1%
Gold bullion		7%		7%
Total		100%		100%

Summary of entity's pension plan assets fair value

2014	Level 1		Level 2		Level 3		Total
	(in thousands)
Equity securities:
Domestic	$	90,061		—		—		90,061
International		29,351		—		—		29,351
Equity derivatives		—		116		—		116
Fixed income securities:
Mortgage-backed securities		—		14		—		14
Corporate bond		—		—		1,884		1,884
Private equity		—		—		1,518		1,518
Gold bullion		12,209		—		—		12,209
Total investment securities		131,621		130		3,402		135,153
Cash and other								40,395
Total							$	175,548

2013	Level 1		Level 2		Level 3		Total
	(in thousands)
Equity securities:
Domestic	$	54,558		—		—		54,558
International		67,889		—		—		67,889
Equity derivatives		—		471		—		471
Fixed income securities:
Mortgage-backed securities		—		17		—		17
Corporate bond		—		—		1,900		1,900
Private equity		—		—		2,119		2,119
Gold bullion		12,316		—		—		12,316
Total investment securities		134,763		488		4,019		139,270
Cash and other								31,160
Total							$	170,430

Summary of the activity of plan assets categorized as Level 3

	2014		2013
	(in thousands)
Level 3 plan assets at beginning of year	$	4,019		1,772
Purchases, issuances and settlements		—		1,900
Valuation change		(617)		347
Level 3 plan assets at end of year	$	3,402		4,019

Schedule of components of net periodic pension and other postretirement costs

	Pension Benefits						Other Postretirement Benefits
	2014		2013		2012		2014		2013		2012
	(in thousands)
Components of net periodic benefit cost:
Service cost	$	10,084		11,011		9,373		719		788		693
Interest cost		8,395		7,711		7,570		397		361		400
Expected return on plan assets		(14,016)		(11,185)		(8,799)		—		—		—
Actuarial loss amortization		1,496		4,567		4,563		(17)		—		12
Prior service cost amortization		468		555		555		55		55		55
Transition obligation amortization		5		5		5		—		—		—
Net periodic benefit cost (1)	$	6,432		12,664		13,267		1,154		1,204		1,160

(1) Net periodic pension benefit and postretirement medical costs related to discontinued operations and included in the table above were $749 thousand for the year ended December 31, 2012.

Schedule of weighted average assumptions used to determine net periodic cost and benefit obligation

	Pension Benefits						Other Postretirement Benefits
	2014		2013		2012		2014		2013		2012
Discount rate		4.97%		4.22%		4.99%		4.94%		4.18%		5.00%
Expected return on plan assets		7.75%		7.75%		7.75%		Not applicable
Rate of compensation increase		5.12%		3.99%		4.04%		Not applicable

Schedule of expected benefit payments to be paid

	Pension Benefits		Other Postretirement Benefits
	(in thousands)
2015	$	6,813		279
2016		8,743		341
2017		9,929		378
2018		10,066		478
2019		12,161		558
2020 through 2024		74,734		3,839
	$	122,446		5,873