Pension and Other Postretirement Plans (Tables)

12 Months Ended

Dec. 31, 2018

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Defined Benefit Plans Disclosures

Obligations and Funded Status

	December 31,
	2018			2017
	(In thousands)
Changes in projected benefit obligations:
Projected benefit obligations at beginning of year	$	36,914		26,232
Service cost	361			818
Interest cost	852			1,387
Actuarial (gain) loss	(13,870		)	10,459
Benefits paid	(1,982		)	(1,982	)
Projected benefit obligations at end of year	22,275			36,914
Change in plan assets:
Fair value of plan assets at beginning of year	—			—
Contributions	1,982			1,982
Benefits paid	(1,982		)	(1,982	)
Fair value of plan assets at end of year	—			—
Funded status at end of year	$	(22,275	)	(36,914	)

 A detail of plan disclosures is provided below.

Obligations and Funded Status

	December 31,
	2018			2017
	(In thousands)
Changes in projected benefit obligations:
Projected benefit obligations at beginning of year	$	24,659		24,553
Service cost	111			106
Interest cost	899			957
Plan amendments	(1,396		)	—
Actuarial gain (loss)	494			558
Benefits paid	(2,829		)	(1,515	)
Projected benefit obligations at end of year	21,938			24,659
Changes in plan assets:
Fair value of plan assets at beginning of year	19,312			18,279
Actual return on plan assets	(414		)	2,442
Contributions	100			106
Benefits paid	(2,829		)	(1,515	)
Fair value of plan assets at end of year	16,169			19,312
Funded status at end of year	$	(5,769	)	(5,347	)

he company uses a December 31 measurement date for the plan.  A detail of plan disclosures related to the plan is provided below:

Obligations and Funded Status

	December 31,
	2018			2017
	(In thousands)
Changes in projected benefit obligations:
Projected benefit obligations at beginning of year	$	3,774		3,366
Interest cost	158			139
Actuarial loss (gain)	298			274
Benefits paid	—			(5	)
Projected benefit obligations at end of year	4,230			3,774
Changes in plan assets:
Fair value of plan assets at beginning of year	—			—
Contributions	—			5
Benefits paid	—			(5	)
Fair value of plan assets at end of year	—			—
Funded status at end of year	$	(4,230	)	(3,774	)

Schedule of Amounts Recognized in Consolidated Financial Statements and in Other Comprehensive Income

	December 31,
	2018			2017
	(In thousands)
Amounts recognized in the Company's Consolidated Financial Statements:
Assets	$	—		—
Liabilities	(5,769		)	(5,347	)
Net amount recognized	$	(5,769	)	(5,347	)
Amounts recognized in accumulated other comprehensive income:
Net loss	$	8,435		8,147
Prior service cost	—			—
Net amount recognized	$	8,435		8,147

	December 31,
	2018			2017
	(In thousands)
Amounts recognized in the Company's Consolidated Financial Statements:
Assets	$	—		—
Liabilities	(22,275		)	(36,914	)
Net amount recognized	$	(22,275	)	(36,914	)
Amounts recognized in accumulated other comprehensive income:
Net loss	$	4,475		19,049
Prior service cost	522			582
Net amount recognized	$	4,997		19,631

	December 31,
	2018			2017
	(In thousands)
Amounts recognized in the Company's Consolidated Financial Statements:
Assets	$	—		—
Liabilities	(4,230		)	(3,774	)
Net amount recognized	$	(4,230	)	(3,774	)
Amounts recognized in accumulated other comprehensive income:
Net loss	$	816		669
Prior service cost	51			155
Net amount recognized	$	867		824

Schedule of Components of Periodic Benefit Cost

Components of Net Periodic Benefit Cost

	Years Ended December 31,
	2018			2017		2016
	(In thousands)
Components of net periodic benefit costs:
Interest cost	$	899		957		1,000
Service cost	111			106		105
Expected return on plan assets	(1,300		)	(1,227	)	(1,215	)
Amortization of prior service cost	—			—		—
Amortization of net loss	524			638		772
Net periodic benefit cost	234			474		662
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net loss (gain)	812			(658	)
Amortization of prior service cost	—			—
Amortization of net loss (gain)	(524		)	(638	)
Total recognized in other comprehensive income	288			(1,296	)
Total recognized in net periodic benefit cost and other comprehensive income	$	522		(822	)

Components of Net Periodic Benefit Cost

	Years Ended December 31,
	2018			2017		2016
	(In thousands)
Components of net periodic benefit cost:
Service cost	$	361		818		438
Interest cost	852			1,387		1,058
Amortization of prior service cost	59			59		59
Amortization of net loss	704			3,274		2,003
Net periodic benefit cost	1,976			5,538		3,558
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net (gain) loss	(13,870		)	10,459
Amortization of prior service cost	(59		)	(59	)
Amortization of net (gain) loss	(704		)	(3,274	)
Total recognized in other comprehensive income	(14,633		)	7,126
Total recognized in net periodic benefit cost and other comprehensive income	$	(12,657	)	12,664

Components of Net Periodic Benefit Cost

	Years Ended December 31,
	2018			2017		2016
	(In thousands)
Components of net periodic benefit cost:
Interest cost	$	158		139		121
Amortization of prior service cost	103			103		103
Amortization of net loss	151			41		—
Net periodic benefit cost	412			283		224
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net (gain) loss	298			274
Amortization of prior service cost	(103		)	(103	)
Amortization of net (gain) loss	(151		)	(41	)
Total recognized in other comprehensive income	44			130
Total recognized in net periodic benefit cost and other comprehensive income	$	456		413

Schedule of Allocation of Plan Assets

 The following tables set forth the Company’s pension plan assets within the fair value hierarchy as of December 31, 2018 and 2017.

	December 31, 2018
	Total		Level 1	Level 2	Level 3
	(In thousands)
Cash and cash equivalents	$	209	209	—	—
Equity securities
Domestic	9,909		9,909	—	—
International	193		193	—	—
Debt securities
Corporate bonds	5,858			5,858	—
Total	$	16,169	10,311	5,858	—

Pension Allocation by Type of Fund and Target Allocation

The plan’s weighted-average asset allocations by asset category have been as follows:

	December 31,
	2018	2017	2016
Asset Category:
Equity securities	63%	64%	62%
Debt securities	36%	33%	31%
Cash and cash equivalents	1%	3%	7%
Total	100%	100%	100%

Schedule of Acceptable Ranges for Each Asset as per Investment Policy Statement

The investment policy statement sets forth the following acceptable ranges for each asset's class.

	Acceptable Range
Asset Category:
Equity securities	55-70%
Debt securities	30-40%
Cash and cash equivalents	0-15%

Schedule of Assumptions Used

	December 31,
	2018		2017
Weighted-average assumptions used to determine benefit obligations:
Discount rate	4.00	%	3.75	%
Rate of compensation increase	8.00	%	8.00	%

	December 31,
	2018		2017		2016
Weighted-average assumptions used to determine net periodic benefit costs:
Discount rate	3.75	%	4.00	%	4.00	%
Expected long-term return on plan assets	n/a		n/a		n/a
Rate of compensation increase	8.00	%	8.00	%	8.00	%

Assumptions

	December 31,
	2018		2017
Weighted-average assumptions used to determine benefit obligations:
Discount rate	4.00	%	3.75	%
Rate of compensation increase	n/a		n/a

	December 31,
	2018		2017		2016
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate	3.75	%	4.00	%	4.00	%
Expected long-term return on plan assets	7.00	%	7.00	%	7.00	%
Rate of compensation increase	n/a		n/a		n/a

Schedule of Expected Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands):

2019	$	1,982
2020	1,982
2021	1,982
2022	1,982
2023	1,982
2024-2028	7,228

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands):

2019	$	1,482
2020	1,472
2021	1,455
2022	1,415
2023	1,372
2024-2028	6,561

Defined Benefit Postretirement Healthcare Plans

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Assumptions Used

Assumptions

	December 31,
	2018		2017
Weighted-average assumptions used to determine benefit obligations:
Discount rate	4.00	%	3.75	%
Expected long-term return on plan assets	n/a		n/a

For measurement purposes, a 9% annual rate of increase in the per capita cost of covered health care benefits was assumed for 2019, decreasing annually by 0.5% until reaching an ultimate rate of 5%.

Assumed health care trend rates have a significant effect on the amounts reported for the health care plans.  A one percentage point change in assumed health care cost trend rates would have the following effects for the years ended.

	December 31, 2018				December 31, 2017
	1% Point Increase		1% Point Decrease		1% Point Increase	1% Point Decrease
	(In thousands)
Effect on total of service and interest cost components	$	24	(24	)	22	(21	)
Effect on postretirement benefit obligation	$	630	(624	)	607	(592	)

Schedule of Expected Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands):

2019	$	104
2020	111
2021	118
2022	124
2023	129
2024-2028	749