Employee Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2015

Compensation and Retirement Disclosure [Abstract]

Schedule of Defined Benefit Plans Disclosures

A summary of plan assets, projected benefit obligation and funded status of the plans are as follows (in thousands):

	Qualified Pension Plans
	Nine Months ended September 30, 2015
Value of plan assets:
Beginning fair value of plan assets	$	195,410
Expected return on plan assets	14,445
Plan settlements	(6,416		)
Employer contributions	8,780
Benefits paid	(7,702		)
Ending value of plan assets	204,517
Projected benefit obligation:
Beginning projected benefit obligation	$	408,216
Service cost	6,822
Interest cost	11,146
Plan amendment	(40,049		)
Plan settlements	(21,847		)
Plan curtailment	(2,426		)
Benefits paid	(7,702		)
Actuarial gain	(4,768		)
Ending projected benefit obligation	349,392
Funded status	$	(144,875	)
Accumulated benefit obligation	$	349,392
Net amount recognized in long-term liabilities in the consolidated balance sheet	$	(144,875	)
Amounts recognized in accumulated other comprehensive income/(loss):
Prior service credit	$	33,772
Net actuarial loss	(98,106		)
Net amount recognized in accumulated other comprehensive income/(loss)	$	(64,334	)

	Other Post-employment Benefit Plans
	Nine Months ended September 30, 2015
Value of plan assets:
Beginning fair value of plan assets	$	—
Employer contributions	4,092
Benefits paid	(4,092		)
Ending value of plan assets	—
Projected benefit obligation:
Beginning projected benefit obligation	$	741,372
Service cost	4,479
Interest cost	6,683
Plan amendments	(609,619		)
Plan curtailment	(5,409		)
Benefits paid	(4,092		)
Actuarial gain	(27,075		)
Ending projected benefit obligation	106,339
Funded status	$	(106,339	)
Amounts recognized in the consolidated balance sheet:
Current liabilities	$	(5,166	)
Long-term liabilities	(101,173		)
Net amount recognized in the consolidated balance sheet	$	(106,339	)
Amounts recognized in accumulated other comprehensive income/(loss):
Net prior service credit	$	439,872
Net actuarial loss	(140,607		)
Net amount recognized in accumulated other comprehensive income/(loss)	$	299,265

Schedule of Net Periodic Benefit Costs of Pension and Post-Retirement Healthcare

Components of the net periodic benefit cost related to the Company's qualified pension plans and other post-employment benefit plans for the three and nine months ended September 30, 2015 and 2014 are as follows (in thousands):

	Three Months ended September 30, 2015						Three Months ended September 30, 2014
	Qualified Pension Plans			Other Post- employment Benefit Plans			Qualified Pension Plans			Other Post- employment Benefit Plans
Service cost	$	1,653		$	62		$	3,514		$	6,279
Interest cost	3,702			1,005			3,862			7,897
Expected return on plan assets	(3,688		)	—			(3,368		)	—
Amortization of actuarial loss	1,570			32,775			556			1,729
Amortization of prior service cost	(863		)	(89,550		)	—			—
Plan curtailment	(4,207		)	—			—			—
Plan settlement	110			—			650			—
Net periodic benefit cost	(1,723		)	(55,708		)	5,214			15,905
Less capitalized portion	(137		)	—			(322		)	(965		)
Other post-employment benefit and pension expense	$	(1,860	)	$	(55,708	)	$	4,892		$	14,940

	Nine Months ended September 30, 2015						Nine Months ended September 30, 2014
	Qualified Pension Plans			Other Post- employment Benefit Plans			Qualified Pension Plans			Other Post- employment Benefit Plans
Service cost	$	6,822		$	4,479		$	11,664		$	18,968
Interest cost	11,146			6,683			11,788			22,520
Expected return on plan assets	(10,911		)	—			(10,179		)	—
Amortization of actuarial loss	5,311			80,649			1,634			3,576
Amortization of prior service cost	(2,070		)	(215,076		)	—			—
Plan curtailment	(4,207		)	—			—			—
Plan settlement	717			—			650			—
Net periodic benefit cost	6,808			(123,265		)	15,557			45,064
Less capitalized portion	(469		)	—			(1,112		)	(3,192		)
Other post-employment benefit and pension expense	$	6,339		$	(123,265	)	$	14,445		$	41,872

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

Other Comprehensive Income/(Loss). Other pre-tax changes in plan assets and benefit obligations recognized in other comprehensive income/(loss) are as follows (in thousands):

	Qualified Pension Plans
	Three Months ended September 30, 2015			Nine Months ended September 30, 2015
Amounts recognized in other comprehensive income/(loss):
Prior service credit	$	—		$	40,049
Net gain arising during the period	—			8,302
Amortization of prior service credit	(863		)	(2,070		)
Amortization of net actuarial loss	1,570			5,311
Plan curtailment	(1,781		)	(1,781		)
Plan settlement	16,151			16,149
Total amount recognized in other comprehensive income/(loss)	$	15,077		$	65,960
Estimated amounts that will be amortized from accumulated other comprehensive income/(loss) in the next three months:
Prior service credit	$	(863	)
Net actuarial loss	1,407
Total amount estimated to be amortized from accumulated other comprehensive income/(loss) in the next three months	$	544

	Other Post-employment Benefit Plans
	Three Months ended September 30, 2015			Nine Months ended September 30, 2015
Amounts recognized in other comprehensive income/(loss):
Prior service credit	$	—		$	619,454
Prior service cost	—			(9,835		)
Plan curtailment	—			5,409
Net gain arising during the period	—			27,075
Amortization of prior service credit	(89,550		)	(215,076		)
Amortization of net actuarial loss	32,775			80,649
Total amount recognized in other comprehensive income	$	(56,775	)	$	507,676
Estimated amounts that will be amortized from accumulated other comprehensive income/(loss) in the next three months:
Net prior service credit	$	(89,550	)
Net actuarial loss	32,775
Total amount estimated to be amortized from accumulated other comprehensive income/(loss) in the next three months	$	(56,775	)

Schedule of Assumptions Used

Projected Benefit Obligation Assumptions. The weighted average assumptions used in determining projected benefit obligations for these plans at their respective measurement dates are as follows:

	September 30, 2015
Qualified Pension Plans:
Discount rate	4.34	%
Other Post-employment Benefit Plans:
Discount rate	3.77	%

Net Periodic Benefit Cost Assumptions. The weighted average assumptions used in determining net periodic benefit cost are as follows:

	Three Months ended September 30,
	2015		2014
Qualified Pension Plans:
Discount rate	4.34	%	4.92	%
Expected return on plan assets (a)	7.31	%	7.66	%
Other Post-employment Benefit Plans:
Discount rate	3.29	%	4.98	%

(a) The expected return on plan assets is the long-term rate-of-return the Company expects to earn on the plan assets. In developing the expected return on plan asset assumption, the Company evaluated historical investment performance, the plans' asset allocation strategies and return forecasts for each asset class and input from its advisors. Projected returns by such advisors were based on broad equity and fixed income indices. The expected return on plan assets is reviewed annually in conjunction with other plan assumptions and, if considered necessary, revised to reflect changes in the financial markets and the investment strategy.