BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2019



in thousands	2019	2018
Change in Benefit Obligation
Projected benefit obligation at beginning of year	$ 958,936	$ 1,091,223
Service cost	4,995	5,716
Interest cost	37,640	35,503
Actuarial (gain) loss	141,922	(118,827)
Benefits paid	(52,600)	(54,679)
Projected benefit obligation at end of year	$ 1,090,893	$ 958,936
Change in Fair Value of Plan Assets
Fair value of assets at beginning of year	$ 836,770	$ 840,901
Actual return on plan assets	155,955	(59,083)
Employer contribution	8,882	109,631
Benefits paid	(52,600)	(54,679)
Fair value of assets at end of year	$ 949,007	$ 836,770
Funded status	(141,886)	(122,166)
Net amount recognized	$ (141,886)	$ (122,166)
Amounts Recognized in the Consolidated
Balance Sheets
Noncurrent assets	$ 9,056	$ 6,488
Current liabilities	(8,579)	(9,067)
Noncurrent liabilities	(142,363)	(119,587)
Net amount recognized	$ (141,886)	$ (122,166)
Amounts Recognized in Accumulated
Other Comprehensive Income
Net actuarial loss	$ 268,483	$ 240,199
Prior service cost	6,488	7,828
Total amount recognized	$ 274,971	$ 248,027



dollars in thousands	2019	2018	2017
Components of Net Periodic Pension
Benefit Cost
Service cost	$ 4,995	$ 5,716	$ 6,715
Interest cost	37,640	35,503	36,230
Expected return on plan assets	(47,751)	(59,188)	(48,506)
Amortization of prior service cost	1,340	1,340	1,340
Amortization of actuarial loss	5,433	9,826	7,397
Net periodic pension benefit cost (credit)	$ 1,657	$ (6,803)	$ 3,176
Changes in Plan Assets and Benefit
Obligations Recognized in Other
Comprehensive Income
Net actuarial loss (gain)	$ 33,717	$ (555)	$ 7,879
Prior service cost	0	0	10,868
Reclassification of prior service cost	(1,340)	(1,340)	(1,340)
Reclassification of actuarial loss	(5,433)	(9,826)	(7,397)
Amount recognized in other comprehensive
income	$ 26,944	$ (11,721)	$ 10,010
Amount recognized in net periodic pension
benefit cost and other comprehensive
income	$ 28,601	$ (18,524)	$ 13,186
Assumptions
Weighted-average assumptions used to
determine net periodic benefit cost for
years ended December 31
Discount rate — PBO	4.39%	3.72%	4.29%
Discount rate — service cost	4.59%	3.90%	4.63%
Discount rate — interest cost	4.02%	3.35%	3.63%
Expected return on plan assets	5.75%	7.00%	7.00%
Weighted-average assumptions used to
determine benefit obligation at
December 31
Discount rate	3.28%	4.39%	3.72%

Fair Value Measurements at December 31, 2019



in thousands	Level 1	Level 2	Level 3	Total
Asset Category
Debt funds	$ 0	$ 435,692	$ 0	$ 435,692
Equity funds	549	120,253	0	120,802
Investments in the fair value hierarchy	$ 549	$ 555,945	$ 0	$ 556,494
Interest in common/collective trusts (at NAV)				387,785
Private partnerships (at NAV)				4,728
Total pension plan assets				$ 949,007

Fair Value Measurements at December 31, 2018



in thousands	Level 1	Level 2	Level 3	Total
Asset Category
Debt funds	$ 0	$ 168,953	$ 0	$ 168,953
Commodity funds	0	14,697	0	14,697
Equity funds	246	135,656	0	135,902
Investments in the fair value hierarchy	$ 246	$ 319,306	$ 0	$ 319,552
Interest in common/collective trusts (at NAV)				462,566
Private partnerships (at NAV)				54,652
Total pension plan assets				$ 836,770



in thousands			Pension
Estimated Future Benefit Payments
2020			$ 58,857
2021			58,914
2022			60,476
2023			61,475
2024			62,138
2025-2029			303,663



in thousands	2019	2018
Change in Benefit Obligation
Projected benefit obligation at beginning of year	$ 40,834	$ 43,480
Service cost	1,317	1,357
Interest cost	1,388	1,240
Actuarial loss	2,677	856
Benefits paid	(5,029)	(6,099)
Projected benefit obligation at end of year	$ 41,187	$ 40,834
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	$ (41,187)	$ (40,834)
Net amount recognized	$ (41,187)	$ (40,834)
Amounts Recognized in the Consolidated
Balance Sheets
Current liabilities	$ (5,339)	$ (5,560)
Noncurrent liabilities	(35,848)	(35,274)
Net amount recognized	$ (41,187)	$ (40,834)
Amounts Recognized in Accumulated
Other Comprehensive Income
Net actuarial gain	$ (14,642)	$ (18,624)
Prior service credit	(7,575)	(11,494)
Total amount recognized	$ (22,217)	$ (30,118)



dollars in thousands	2019	2018	2017
Components of Net Periodic Postretirement
Benefit Cost
Service cost	$ 1,317	$ 1,358	$ 1,167
Interest cost	1,388	1,240	1,260
Amortization of prior service credit	(3,919)	(3,962)	(4,236)
Amortization of actuarial gain	(1,309)	(1,298)	(1,587)
Net periodic postretirement benefit credit	$ (2,523)	$ (2,662)	$ (3,396)
Changes in Plan Assets and Benefit
Obligations Recognized in Other
Comprehensive Income
Net actuarial loss	$ 2,673	$ 835	$ 342
Reclassification of prior service credit	3,919	3,962	4,236
Reclassification of actuarial gain	1,309	1,298	1,587
Amount recognized in other comprehensive
income	$ 7,901	$ 6,095	$ 6,165
Amount recognized in net periodic
postretirement benefit cost and other
comprehensive income	$ 5,378	$ 3,433	$ 2,769
Assumptions
Weighted-average assumptions used to
determine net periodic benefit cost for
years ended December 31
Discount rate — PBO	4.01%	3.34%	3.59%
Discount rate — service cost	4.23%	3.56%	3.96%
Discount rate — interest cost	3.63%	2.90%	2.89%
Weighted-average assumptions used to
determine benefit obligation at
December 31
Discount rate	2.84%	4.01%	3.33%



in thousands			Postretirement
Estimated Future Benefit Payments
2020			$ 5,340
2021			5,049
2022			4,669
2023			4,500
2024			4,257
2025–2029			16,282



in thousands			Postretirement
Participants Contributions
2017			$ 2,025
2018			1,984
2019			2,239