Pension and Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Schedule of Changes in Projected Benefit Obligations

The following tables set forth the plans’ changes in benefit obligations, plan assets and funded status on the measurement dates, December 31, 2014, 2013 and 2012, and amounts recognized in our consolidated balance sheets as of those dates.

	Pension Benefits									Other Benefits
(Table only in thousands)	2014			2013			2012			2014			2013			2012
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	32,311		$	8,535		$	7,886			n/a			n/a			n/a
Accumulated postretirement benefit obligation		n/a			n/a			n/a		$	116		$	89		$	146
Projected benefit obligation from acquisition		—			24,364			—			—			—			—
Service cost		204			126			58			—			—			—
Interest cost		1,428			676			328			5			3			6
Amendments		—			—			—			24			44			—
Actuarial (gain)/loss		6,015			(509	)		629			38			8			(43	)
Administrative expenses		(174	)		(126	)		—			—			—			—
Benefits paid		(1,576	)		(755	)		(366	)		(28	)		(28	)		(20	)
Projected benefit obligation at end of year		38,208			32,311			8,535			155			116			89
Change in plan assets:
Fair value of plan assets at beginning of year		25,822			5,549			5,020			—			—			—
Fair value of plan assets from acquisition		—			18,654			—			—			—			—
Actual return on plan assets		1,404			2,291			603			—			—			—
Employer contribution		1,826			209			292			28			28			20
Administrative expenses		(174	)		(126	)		—			—			—			—
Benefits paid		(1,576	)		(755	)		(366	)		(28	)		(28	)		(20	)
Fair value of plan assets at end of year		27,302			25,822			5,549			—			—			—
Funded status	$	(10,906	)	$	(6,489	)	$	(2,986	)	$	(155	)	$	(116	)	$	(89	)
Defined benefit liabilities included in accounts payable and accrued expenses	$	—		$	—		$	—		$	(25	)	$	(21	)	$	(15	)
Defined benefit liabilities included in other liabilities		(10,906	)		(6,489	)		(2,986	)		(130	)		(95	)		(74	)
Deferred tax benefit (expense) associated with accumulated other comprehensive loss (income)		2,983			608			1,505			8			(18	)		(45	)
Accumulated other comprehensive loss (income), net of tax		4,865			856			2,257			14			(27	)		(67	)
Net amount recognized	$	(3,058	)	$	(5,025	)	$	776		$	(133	)	$	(161	)	$	(201	)
Other comprehensive income (loss):
Net loss (gain)	$	6,561		$	(1,926	)	$	404		$	38		$	8		$	(43	)
Prior service cost		—			—			—			24			44			—
Amortization of prior service cost		(4	)		(1	)		(1	)		(6	)		—			—
Amortization of net actuarial loss		(173	)		(370	)		(332	)		11			14			8
Total recognized in other comprehensive income	$	6,384		$	(2,297	)	$	71		$	67		$	66		$	(35	)
Accumulated other comprehensive income (loss):
Net (gain) loss	$	7,848		$	1,460		$	3,757		$	(40	)	$	(89	)	$	(112	)
Prior service cost		—			4			5			62			44			—
Amount recognized in accumulated other comprehensive income (loss)	$	7,848		$	1,464		$	3,761		$	22		$	(45	)	$	(112	)
Weighted-average assumptions used to determine benefit obligations for the year ended December 31:
Discount rate		3.75	%		4.50	%		3.75	%		3.75	%		4.50	%		3.75	%
Compensation increase rate		n/a			n/a			n/a			n/a			n/a			n/a

Components of Pension and Employee Benefit Expenses

The details of net periodic benefit cost for pension benefits included in the accompanying Consolidated Statements of Income for the years ended December 31, 2014, 2013 and 2012 are as follows:

(Table only in thousands)	2014			2013			2012
Service cost	$	204		$	126		$	58
Interest cost		1,428			676			328
Expected return on plan assets		(1,950	)		(871	)		(377	)
Net amortization and deferral		177			370			333
Net periodic benefit cost	$	(141	)	$	301		$	342

Weighted-average Assumptions Used to Determine Net Periodic Benefit Cost

(Table only in thousands)	2014			2013			2012
Service cost	$	204		$	126		$	58
Interest cost		1,428			676			328
Expected return on plan assets		(1,950	)		(871	)		(377	)
Net amortization and deferral		177			370			333
Net periodic benefit cost	$	(141	)	$	301		$	342
Weighted-average assumptions used to determine net periodic benefit costs for the years ended December 31:
Discount rate		4.50	%		3.75% to 4.50%			4.25	%
Expected return on assets		7.50	%		7.50%			7.50	%
Compensation increase rate		n/a			n/a			n/a

Details of Defined Benefit Pension Plan Asset Allocation by Asset Category

by an underlying inflation rate. Our defined benefit pension plan asset allocation by asset category is as follows:

	Target Allocation 2015			Percentage of Plan Assets
				2014			2013
Asset Category:
Equity securities		70	%		64% - 67	%		64% - 73	%
Debt securities		30	%		33% - 36	%		27% - 36	%
Total		100	%		100	%		100	%

Disclosure of Fair Value Measurements of Pension Plan Assets

The levels assigned to the defined benefit plan assets as of December 31, 2014, are summarized in the tables below:

(Table only in thousands)	Level 1		Level 2		Level 3		Total
Pension assets, at fair value:
Cash and cash equivalents	$	1,310	$	—	$	—	$	1,310
Equity securities		18,274		—		—		18,274
Debt securities		7,718		—		—		7,718
Total assets	$	27,302	$	—	$	—	$	27,302

The levels assigned to the defined benefit plan assets as of December 31, 2013, are summarized in the tables below:

(Table only in thousands)	Level 1		Level 2		Level 3		Total
Pension assets, at fair value:
Cash and cash equivalents	$	1,106	$	—	$	—	$	1,106
Equity securities		17,590		—		—		17,590
Debt securities		7,126		—		—		7,126
Total assets	$	25,822	$	—	$	—	$	25,822

Summary of Pension Fund General Information

Pension Fund	EIN/Pension Plan Number	Pension Protection Act Zone Status 2012	FIF/RP Status Pending/ Implemented	Surcharge Imposed		Expiration of Collective Bargaining Agreement
Sheet Metal Workers’ National Pension Fund	52-6112463/001	Yellow	FIF: Yes -Implemented RP: Yes - Implemented		No	various
Sheet Metal Workers Local 224 Pension Plan	31-6171353/001	Red	RP: Yes - Implemented		No	May 31, 2016
Sheet Metal Workers Local No. 20, Indianapolis Area Pension fund	51-0168516/001	Green	Is not subject		No	May 31, 2017
Sheet Metal Workers Local No. 177 Pension Fund	62-6093256/001	Green	Is not subject		No	May 1, 2018