Pension (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Changes in Accumulated Postemployment Benefit Obligations

The reconciliation of changes in the benefit obligation, plan assets and funded status of the pension benefits is as follows:


	December 31,
	2020		2019
Change in Benefit Obligation:
Benefit Obligation at Beginning of Period	$	40,196	$	33,569
Service Cost	247		209
Interest Cost	1,179		1,338
Actuarial Loss	4,098		4,865
Plan Amendments	—		1,728


Benefits and Other Payments	(1,644)		(1,513)
Benefit Obligation at End of Period	$	44,076	$	40,196

Change in Plan Assets:
Fair Value of Plan Assets at Beginning of Period	$	—	$	—
Company Contributions	1,644		1,513
Benefits and Other Payments	(1,644)		(1,513)

Fair Value of Plan Assets at End of Period	$	—	$	—

Funded Status:
Current Liabilities	$	(1,787)	$	(1,587)
Noncurrent Liabilities	(42,289)		(38,609)

Net Obligation Recognized	$	(44,076)	$	(40,196)

Amounts Recognized in Accumulated Other Comprehensive Loss Consist of:
Net Actuarial Loss	$	19,075	$	15,361
Prior Service Cost	1,506		1,727
Total	20,581		17,088
Less: Tax Benefit	5,397		4,483
Net Amount Recognized	$	15,184	$	12,605

Schedule of Defined Benefit Plans Disclosures

The components of the net periodic benefit cost are as follows:


	For the Years Ended December 31,
	2020		2019		2018
Components of Net Periodic Benefit Cost:
Service Cost	$	247	$	209	$	302
Interest Cost	1,179		1,338		1,265
Amortization of Prior Service Cost (Credit)	221		(17)		(193)
Recognized Net Actuarial Loss	383		242		865
Curtailment Gain	—		—		(416)

Net Periodic Benefit Cost	$	2,030	$	1,772	$	1,823

Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets

The following table provides information related to the pension plan with an accumulated benefit obligation in excess of plan assets:


	As of December 31,
	2020		2019
Projected Benefit Obligation	$	44,076	$	40,196
Accumulated Benefit Obligation	$	43,886	$	40,196
Fair Value of Plan Assets	$	—	$	—

Schedule of Assumptions Used

The weighted-average assumptions used to determine benefit obligations are as follows:


	As of December 31,
	2020		2019
Discount Rate	2.47	%	3.36	%
Rate of Compensation Increase	—	%	—	%
Interest Credited Rate	2.26	%	3.01	%

The discount rates are determined using a Company-specific yield curve model (above-mean) developed with the assistance of an external actuary. The Company-specific yield curve models (above-mean) use a subset of the expanded bond universe to determine the Company-specific discount rate. Bonds used in the yield curve are rated AA by Moody's or Standard & Poor's as of the measurement date. The yield curve models parallel the plans' projected cash flows, and the underlying cash flows of the bonds included in the models exceed the cash flows needed to satisfy the Company plans.

The weighted-average assumptions used to determine net periodic benefit cost are as follows:


	For the Years ended December 31,
	2020		2019		2018
Discount Rate	3.36	%	4.37	%	4.28	%

Rate of Compensation Increase	—	%	3.63	%	4.05	%
Interest Credited Rate	2.47	%	3.39	%	3.94	%

Schedule of Expected Benefit Payments

The following benefit payments, which reflect expected future service, are expected to be paid:


	Pension
Year ended December 31,	Benefits
2021	$	1,787
2022	$	1,846
2023	$	1,913
2024	$	1,977
2025	$	2,049
Year 2026-2030	$	11,172