Pension Plan and Postretirement Benefits Other Than Pension (Tables)

12 Months Ended

Dec. 31, 2019

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

A reconciliation of the funded status of these plans and the assumptions related to the obligations at December 31, 2019, 2018 and 2017 are as follows:

					Other
	Pension Benefits				Postretirement Benefits
	2019		2018	2017	2019	2018	2017
	(in thousands)
Change in projected benefit obligation:
Net benefit obligation at beginning of year	$	154,528	184,245	180,921	1,048	2,195	2,446
Service cost		—	—	8,367	—	—	—
Interest cost		6,146	5,986	6,248	33	54	58
Benefits paid		(13,221)	(13,690)	(8,511)	(677)	(602)	(954)
Actuarial loss (gain)		39,027	(22,013)	28,841	47	(965)	139
Retiree contributions		—	—	—	275	366	506
Curtailment gain		—	—	(31,621)	—	—	—
Net benefit obligation at end of year	$	186,480	154,528	184,245	726	1,048	2,195

					Other
	Pension Benefits				Postretirement Benefits
	2019		2018	2017	2019	2018	2017
	(in thousands)
Change in plan assets:
Fair value of plan assets at beginning of year	$	162,999	170,881	144,529	—	—	—
Actual return on plan assets		34,125	1,808	24,863	—	—	—
Employer contributions		—	4,000	10,000	402	236	448
Retiree contributions		—	—	—	275	366	506
Benefits paid		(13,221)	(13,690)	(8,511)	(677)	(602)	(954)
Fair value of plan assets at end of year	$	183,903	162,999	170,881	—	—	—
Funded status at end of year	$	(2,577)	8,471	(13,364)	(726)	(1,048)	(2,195)

								Other
	Pension Benefits							Postretirement Benefits
	2019			2018		2017		2019		2018		2017
	(in thousands, except percentage data)
Amounts recognized in the statement of financial position:
Noncurrent assets	$	—		8,471		—		—		—		—
Current liabilities		—		—		—		(158)		(250)		(422)
Noncurrent liabilities		(2,577)		—		(13,364)		(568)		(798)		(1,773)
Net amount recognized at end of year	$	(2,577)		8,471		(13,364)		(726)		(1,048)		(2,195)
Weighted average assumptions used to determine benefit obligation at December 31:
Discount rate		3.32	%	4.45	%	3.76	%	2.87	%	4.08	%	3.28	%

Schedule of Pension Plan asset allocation

Our Pension Plan asset allocation at December 31, 2019 and 2018 is as follows:

	Percentage of		Percentage of
	Plan Assets at		Plan Assets at
Plan assets by category	December 31, 2019		December 31, 2018
Cash	51	%	2	%
Fixed income securities	49	%	98	%
Total	100	%	100	%

Summary of entity's pension plan assets fair value

2019	Level 1		Level 2	Level 3	Total
	(in thousands)
Cash equivalents	$	—	91,989	—		91,989
Fixed income securities:
U.S. Treasuries		—	19,311	—		19,311
Corporate bond		—	62,313	—		62,313
Foreign bonds		—	8,913	—		8,913
Total investment securities		—	182,526	—		182,526
Cash						1,377
Total					$	183,903

2018	Level 1		Level 2	Level 3	Total
	(in thousands)
Cash equivalents	$	—	465	—		465
Equity securities:
International		—	4	—		4
Fixed income securities:
U.S. Treasuries		—	46,415	—		46,415
Corporate bond		—	91,521	—		91,521
Foreign Bonds		—	21,870	—		21,870
Total investment securities		—	160,275	—		160,275
Cash						2,724
Total					$	162,999

Schedule of components of net periodic pension and other postretirement costs

The components of net periodic pension and other postretirement costs consisted of the following for the years ended December 31, 2019, 2018 and 2017:

					Other
	Pension Benefits				Postretirement Benefits
	2019		2018	2017	2019	2018	2017
	(in thousands)
Components of net periodic benefit cost:
Service cost	$	—	—	8,367	—	—	—
Interest cost		6,146	5,986	6,248	33	54	58
Expected return on plan assets		(6,315)	(8,320)	(10,113)	—	—	—
Actuarial loss (gain)		11,217	(15,501)	14,091	—	—	—
Actuarial gain amortization		—	—	—	(495)	(120)	(180)
Prior service cost amortization		—	—	—	—	(2)	(4)
Curtailment gain		—	—	(31,621)	—	—	—
Total	$	11,048	(17,835)	(13,028)	(462)	(68)	(126)

Schedule of weighted average assumptions used to determine net periodic cost

The weighted average assumptions used to determine net periodic benefit cost for the years ended December 31, 2019, 2018 and 2017 are as follows:

							Other
	Pension Benefits						Postretirement Benefits
	2019		2018		2017		2019		2018		2017
Discount rate	4.45	%	3.76	%	4.39% / 3.96	1%	4.08	%	3.28	%	3.46	%
Expected return on plan assets	4.00	%	5.00	%	7.00% / 6.00	1%	Not applicable
Rate of compensation increase	Not applicable				5.12	%	Not applicable

________________________

(1) Due to the Pension Plan freeze and associated remeasurement as of July 31, 2017, the discount rate changed from 4.39% to 3.96% and the expected return on assets changed from 7.00% to 6.00%.

Schedule of expected benefit payments to be paid

Under current plan provisions, we expect the following benefit payments to be paid.  For the Pension Plan, the timing of benefit payments does not include anticipated acceleration of payments for the plan termination, as the payment timing is based on the same assumptions used to measure the benefit obligation as of December 31, 2019, which does not reflect plan termination.

			Other
	Pension		Postretirement
	Benefits		Benefits
	(in thousands)
2020	$	8,947	158
2021		9,491	116
2022		9,164	99
2023		9,469	66
2024		9,770	66
2025 through 2029		50,283	143
	$	97,124	648