BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2016



in thousands	2016	2015
Change in Benefit Obligation
Projected benefit obligation at beginning of year	$ 988,453	$ 1,083,222
Service cost	5,343	4,851
Interest cost	36,505	44,065
Actuarial (gain) loss	24,675	(63,725)
Benefits paid	(48,302)	(79,960)
Projected benefit obligation at end of year	$ 1,006,674	$ 988,453
Change in Fair Value of Plan Assets
Fair value of assets at beginning of year	$ 745,686	$ 816,972
Actual return on plan assets	42,555	(5,373)
Employer contribution	9,576	14,047
Benefits paid	(48,302)	(79,960)
Fair value of assets at end of year	$ 749,515	$ 745,686
Funded status	(257,159)	(242,767)
Net amount recognized	$ (257,159)	$ (242,767)
Amounts Recognized in the Consolidated
Balance Sheets
Noncurrent assets	$ 0	$ 0
Current liabilities	(9,375)	(9,106)
Noncurrent liabilities	(247,784)	(233,661)
Net amount recognized	$ (257,159)	$ (242,767)
Amounts Recognized in Accumulated
Other Comprehensive Income
Net actuarial loss	$ 250,099	$ 222,580
Prior service credit	(361)	(404)
Total amount recognized	$ 249,738	$ 222,176



dollars in thousands	2016	2015	2014
Components of Net Periodic Pension
Benefit Cost
Service cost	$ 5,343	$ 4,851	$ 4,157
Interest cost	36,505	44,065	44,392
Expected return on plan assets	(51,562)	(54,736)	(50,802)
Settlement charge	0	2,031	0
Amortization of prior service cost (credit)	(43)	48	188
Amortization of actuarial loss	6,163	21,641	11,221
Net periodic pension benefit cost (credit)	$ (3,594)	$ 17,900	$ 9,156
Changes in Plan Assets and Benefit
Obligations Recognized in Other
Comprehensive Income
Net actuarial loss (gain)	$ 33,682	$ (3,615)	$ 118,915
Reclassification of actuarial loss	(6,163)	(23,672)	(11,221)
Reclassification of prior service (cost) credit	43	(48)	(188)
Amount recognized in other comprehensive
income	$ 27,562	$ (27,335)	$ 107,506
Amount recognized in net periodic pension
benefit cost and other comprehensive
income	$ 23,968	$ (9,435)	$ 116,662
Assumptions
Weighted-average assumptions used to
determine net periodic benefit cost for
years ended December 31
Discount rate — PBO	4.55%	4.14%	4.91%
Discount rate — service cost	4.68%	4.14%	4.91%
Discount rate — interest cost	3.79%	4.14%	4.91%
Expected return on plan assets	7.50%	7.50%	7.50%
Rate of compensation increase
(for salary-related plans)	3.50%	3.70%	3.50%
Weighted-average assumptions used to
determine benefit obligation at
December 31
Discount rate	4.29%	4.54%	4.14%
Rate of compensation increase
(for salary-related plans)	3.50%	3.50%	3.70%

Fair Value Measurements at December 31, 2016



in thousands	Level 1 1	Level 2 1	Level 3 1	Total
Asset Category
Debt securities	$ 0	$ 162,894	$ 0	$ 162,894
Investment funds
Commodity funds	0	16,594	0	16,594
Equity funds	530	124,407	0	124,937
Investments in the fair value hierarchy	$ 530	$ 303,895	$ 0	$ 304,425
Interest in common/collective trusts (at NAV) 2				358,345
Venture capital and partnerships (at NAV) 2				86,745
Total pension plan assets				$ 749,515

Fair Value Measurements at December 31, 2015



in thousands	Level 1 1	Level 2 1	Level 3 1	Total
Asset Category
Debt securities	$ 0	$ 154,745	$ 0	$ 154,745
Investment funds
Commodity funds	0	14,490	0	14,490
Equity funds	647	123,078	0	123,725
Investments in the fair value hierarchy	$ 647	$ 292,313	$ 0	$ 292,960
Interest in common/collective trusts (at NAV) 2				349,854
Venture capital and partnerships (at NAV) 2				102,872
Total pension plan assets				$ 745,686


1	See Note 1 under the caption Fair Value Measurements for a description of the fair value hierarchy.
2	As discussed in Note 1, we adopted ASU 2015-07 as of March 31, 2016. As a result, pension plan assets measured using the net asset value practical expedient were excluded from the fair value hierarchy.



in thousands			Pension
Estimated Future Benefit Payments
2017			$ 52,691
2018			55,221
2019			56,720
2020			57,664
2021			58,755
2022-2026			304,149



in thousands	2016	2015
Change in Benefit Obligation
Projected benefit obligation at beginning of year	$ 48,605	$ 85,336
Service cost	1,123	1,894
Interest cost	1,209	2,485
Actuarial gain	(111)	(35,195)
Benefits paid	(5,280)	(5,915)
Projected benefit obligation at end of year	$ 45,546	$ 48,605
Change in Fair Value of Plan Assets
Fair value of assets at beginning of year	$ 0	$ 0
Actual return on plan assets	0	0
Fair value of assets at end of year	$ 0	$ 0
Funded status	$ (45,546)	$ (48,605)
Net amount recognized	$ (45,546)	$ (48,605)
Amounts Recognized in the Consolidated
Balance Sheets
Current liabilities	$ (6,013)	$ (6,287)
Noncurrent liabilities	(39,533)	(42,318)
Net amount recognized	$ (45,546)	$ (48,605)
Amounts Recognized in Accumulated
Other Comprehensive Income
Net actuarial gain	$ (22,685)	$ (24,325)
Prior service credit	(19,692)	(23,928)
Total amount recognized	$ (42,377)	$ (48,253)



dollars in thousands	2016	2015	2014
Components of Net Periodic Postretirement
Benefit Cost
Service cost	$ 1,123	$ 1,894	$ 2,146
Interest cost	1,209	2,485	3,297
Curtailment gain	0	0	(3,832)
Amortization of prior service credit	(4,236)	(4,232)	(4,327)
Amortization of actuarial (gain) loss	(1,751)	37	227
Net periodic postretirement benefit cost (credit)	$ (3,655)	$ 184	$ (2,489)
Changes in Plan Assets and Benefit
Obligations Recognized in Other
Comprehensive Income
Net actuarial gain	$ (111)	$ (35,209)	$ (5,256)
Reclassification of actuarial gain (loss)	1,751	(37)	(227)
Reclassification of prior service credit	4,236	4,232	8,159
Amount recognized in other comprehensive
income	$ 5,876	$ (31,014)	$ 2,676
Amount recognized in net periodic
postretirement benefit cost and other
comprehensive income	$ 2,221	$ (30,830)	$ 187
Assumptions
Assumed Healthcare Cost Trend Rates
at December 31
Healthcare cost trend rate assumed
for next year	n/a	n/a	7.50%
Rate to which the cost trend rate gradually
declines	n/a	n/a	5.00%
Year that the rate reaches the rate it is
assumed to maintain	n/a	n/a	2025
Weighted-average assumptions used to
determine net periodic benefit cost for
years ended December 31
Discount rate — PBO	3.69%	3.50%	4.10%
Discount rate — service cost	3.77%	3.50%	4.10%
Discount rate — interest cost	2.81%	3.50%	4.10%
Weighted-average assumptions used to
determine benefit obligation at
December 31
Discount rate	3.58%	3.69%	3.50%



in thousands			Postretirement
Estimated Future Benefit Payments
2017			$ 6,013
2018			5,757
2019			5,510
2020			5,227
2021			4,826
2022–2026			18,546



in thousands			Postretirement
Participants Contributions
2014			$ 1,873
2015			2,031
2016			2,085