Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2018

Defined Benefit Plan Disclosure [Line Items]

Schedule of Amount Recognized in Accumulated Other Comprehensive Income (Loss)

Upon adoption of ASU 2016-01, Financial Instruments-Overall, the Company recorded, on January 1, 2018, a cumulative effect adjustment, net of income taxes, to increase retained earnings by $41.0 million with an offset to AOCI. Changes in Accumulated Other Comprehensive Income (Loss) (net of tax) by component are presented below (in thousands):
		Unrecognized Pension and Post-retirement Benefit Costs			Net Unrealized Gains (Losses) on Marketable Securities			Net Losses on Cash Flow Hedges			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2015		$	(29,869	)	$	27,765		$	(11,810	)	$	(13,914	)
	Other comprehensive income before reclassifications	7,363			6,904			—			14,267
	Amounts reclassified from accumulated other comprehensive income (loss)	(1,422		)	(6,206		)	159			(7,469		)
Balance at December 31, 2016		(23,928		)	28,463			(11,651		)	(7,116		)
	Other comprehensive income before reclassifications	7,951			20,251			—			28,202
	Amounts reclassified from accumulated other comprehensive income (loss)	(1,813		)	(8,524		)	309			(10,028		)
Balance at December 31, 2017		(17,790		)	40,190			(11,342		)	11,058
	Cumulative effect adjustment	—			(41,028		)	—			(41,028		)
	Other comprehensive loss before reclassifications	(4,589		)	(3,240		)	—			(7,829		)
	Amounts reclassified from accumulated other comprehensive income (loss)	(2,544		)	1,136			423			(985		)
Balance at December 31, 2018		$	(24,923	)	$	(2,942	)	$	(10,919	)	$	(38,784	)

Retirement Income Plan

Defined Benefit Plan Disclosure [Line Items]

Schedule of Net Funded Status

The obligations and funded status of the plans are presented below (in thousands):

	December 31,
	2018						2017
	Retirement Income Plan			Non-Qualified Retirement Plans			Retirement Income Plan			Non-Qualified Retirement Plans
Change in projected benefit obligation:
Benefit obligation at end of prior year	$	361,989		$	28,392		$	337,768		$	27,462
Service cost (a)	9,086			480			8,156			362
Interest cost	12,013			865			12,196			863
Actuarial (gain) loss	(29,911		)	(1,087		)	20,829			2,217
Benefits paid	(17,681		)	(1,931		)	(16,960		)	(2,512		)
Benefit obligation at end of year	335,496			26,719			361,989			28,392
Change in plan assets:
Fair value of plan assets at end of prior year	304,389			—			269,766			—
Actual return (loss) on plan assets	(19,683		)	—			44,283			—
Employer contribution	7,300			1,931			7,300			2,512
Benefits paid	(17,681		)	(1,931		)	(16,960		)	(2,512		)
Assumed expenses	(1,522		)	—			—			—
Fair value of plan assets at end of year	272,803			—			304,389			—
Funded status at end of year	$	(62,693	)	$	(26,719	)	$	(57,600	)	$	(28,392	)

_____________________

(a) Service cost for the Retirement Plan for 2018 excludes assumed expenses of $1,522 thousand for administrative and investment expenses paid from plan assets during the year.

Schedule of Amounts Recognized in Balance Sheet

Amounts recognized in the Company's balance sheets consist of the following (in thousands):

	December 31,
	2018						2017
	Retirement Income Plan			Non-Qualified Retirement Plans			Retirement Income Plan			Non-Qualified Retirement Plans
Current liabilities	$	—		$	(2,153	)	$	—		$	(2,154	)
Noncurrent liabilities	(62,693		)	(24,566		)	(57,600		)	(26,238		)
Total	$	(62,693	)	$	(26,719	)	$	(57,600	)	$	(28,392	)

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

The accumulated benefit obligation in excess of plan assets is as follows (in thousands):    

	December 31,
	2018						2017
	Retirement Income Plan			Non-Qualified Retirement Plans			Retirement Income Plan			Non-Qualified Retirement Plans
Projected benefit obligation	$	(335,496	)	$	(26,719	)	$	(361,989	)	$	(28,392	)
Accumulated benefit obligation	(308,582		)	(24,251		)	(329,279		)	(25,370		)
Fair value of plan assets	272,803			—			304,389			—

Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Loss)

Pre-tax amounts recognized in accumulated other comprehensive income consist of the following (in thousands):    

	Years Ended December 31,
	2018						2017
	Retirement Income Plan			Non-Qualified Retirement Plans			Retirement Income Plan			Non-Qualified Retirement Plans
Net loss	$	112,532		$	9,300		$	109,215		$	11,408
Prior service benefit	(16,942		)	(107		)	(20,410		)	(146		)
Total	$	95,590		$	9,193		$	88,805		$	11,262

Schedule of Net Periodic Benefit Costs

The components of net periodic benefit cost are presented below (in thousands):

	Years Ended December 31,
	2018						2017						2016
	Retirement Income Plan			Non-Qualified Retirement Plans			Retirement Income Plan			Non-Qualified Retirement Plans			Retirement Income Plan			Non-Qualified Retirement Plans
Service cost (a)	$	10,608		$	480		$	8,156		$	362		$	7,705		$	296
Interest cost	12,013			865			12,196			863			12,161			878
Expected return on plan assets	(21,076		)	—			(19,189		)	—			(18,879		)	—
Amortization of:
Net loss	7,531			1,022			7,572			882			6,554			785
Prior service benefit	(3,467		)	(39		)	(3,467		)	(39		)	(3,467		)	(39		)
Net periodic benefit cost	$	5,609		$	2,328		$	5,268		$	2,068		$	4,074		$	1,920

_____________________

(a) Service cost for the Retirement Plan for 2018 includes assumed expenses of $1,522 thousand for administrative and investment expenses paid from plan assets during the year.

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

The changes in benefit obligations recognized in other comprehensive income are presented below (in thousands):

	Years Ended December 31,
	2018						2017						2016
	Retirement Income Plan			Non-Qualified Retirement Plans			Retirement Income Plan			Non-Qualified Retirement Plans			Retirement Income Plan			Non-Qualified Retirement Plans
Net (gain) loss	$	10,848		$	(1,087	)	$	(4,265	)	$	2,217		$	8,644		$	1,266
Amortization of:
Net loss	(7,531		)	(1,022		)	(7,572		)	(882		)	(6,554		)	(785		)
Prior service benefit	3,467			39			3,467			39			3,467			39
Total recognized in other comprehensive income	$	6,784		$	(2,070	)	$	(8,370	)	$	1,374		$	5,557		$	520

Schedule of Recognized Net Periodic Benefit Obligation and Other Comprehensive Income

The total amount recognized in net periodic benefit costs and other comprehensive income are presented below (in thousands):

	Years Ended December 31,
	2018				2017					2016
	Retirement Income Plan		Non-Qualified Retirement Plans		Retirement Income Plan			Non-Qualified Retirement Plans		Retirement Income Plan		Non-Qualified Retirement Plans
Total recognized in net periodic benefit cost and other comprehensive income	$	12,393	$	258	$	(3,102	)	$	3,442	$	9,631	$	2,440

Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

The following are amounts in accumulated other comprehensive income that are expected to be recognized as components of net periodic benefit cost during 2019 (in thousands):

	Retirement Income Plan			Non-Qualified Retirement Plans
Net loss	$	4,905		$	763
Prior service benefit	(3,467		)	(39		)

Schedule of Allocation of Plan Assets

The Company’s target allocations for the plan’s assets are presented below:

	December 31, 2018
Equity securities	49.0	%
Fixed income	41.2	%
Alternative investments	9.8	%
Total	100.0	%

Fair Value, Measurement Inputs, Disclosure

The fair value of the Company’s Retirement Plan assets at December 31, 2018 and 2017, and the level within the three levels of the fair value hierarchy defined by the FASB guidance on fair value measurements are presented in the table below (in thousands):

Description of Securities	Fair Value as of December 31, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and Cash Equivalents	$	1,911	$	1,911	$	—	$	—
Common Collective Trusts (a)
Equity funds	140,214		140,214		—		—
Fixed income funds	110,333		110,333		—		—
Real asset funds	16,990		16,990		—		—
Total Common Collective Trusts	267,537		267,537		—		—
Limited Partnership Interest in Real Estate (b)	3,355
Total Plan Investments	$	272,803	$	269,448	$	—	$	—

Description of Securities	Fair Value as of December 31, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and Cash Equivalents	$	1,582	$	1,582	$	—	$	—
Common Collective Trusts (a)
Equity funds	158,684		158,684		—		—
Fixed income funds	124,491		124,491		—		—
Real asset funds	15,779		15,779		—		—
Total Common Collective Trusts	298,954		298,954		—		—
Limited Partnership Interest in Real Estate (b)	3,853
Total Plan Investments	$	304,389	$	300,536	$	—	$	—

 _____________________

(a) The Common Collective Trusts are invested in equity and fixed income securities, or a combination thereof. The investment objective of each fund is to produce returns in excess of, or commensurate with, its predefined index.

(b) This investment is a commercial real estate partnership that purchases land, develops limited infrastructure and sells it for commercial development. The Company was restricted from selling its partnership interest during the life of the partnership, which spanned 7 years. Return on investment is realized as land is sold. The fair value of the limited partnership interest in real estate is based on the NAV of the partnership which reflects the appraised value of the land. The partnership term expired on June 30, 2016. Upon expiration, dissolution of the partnership commenced and, as a result, the general partner of the partnership is attempting to sell the remaining inventory as soon as possible at the highest pricing possible.

Changes in Fair Value of Investments in Real Estate

The table below reflects the changes in the fair value of investments in the real estate limited partnership during the period (in thousands):

	Fair Value of Investments in Real Estate
Balances at December 31, 2016	$	6,991
Sale of land	(2,687		)
Unrealized loss in fair value	(451		)
Balances at December 31, 2017	3,853
Sale of land	(48		)
Unrealized loss in fair value	(450		)
Balances at December 31, 2018	$	3,355

Schedule of Expected Benefit Payments

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

	Retirement Income Plan		Non-Qualified Retirement Plans
2019	$	17,745	$	2,154
2020	18,278		2,094
2021	18,775		2,042
2022	19,276		1,988
2023	20,545		1,956
2024-2028	108,371		8,811

Retirement Income Plan | Benefit Obligations

Defined Benefit Plan Disclosure [Line Items]

Schedule of Assumptions Used

The following are the weighted-average actuarial assumptions used to determine the benefit obligations:

	December 31,
	2018						2017
			Non-Qualified						Non-Qualified
	Retirement Income Plan		Supplemental Retirement Plan		Excess Benefit Plan		Retirement Income Plan		Supplemental Retirement Plan		Excess Benefit Plan
Discount rate	4.42	%	4.11	%	4.45	%	3.77	%	3.40	%	3.81	%
Rate of compensation increase	4.5	%	N/A		4.5	%	4.5	%	N/A		4.5	%

Retirement Income Plan | Net Periodic Benefit Costs

Defined Benefit Plan Disclosure [Line Items]

Schedule of Assumptions Used

The following are the weighted-average actuarial assumptions used to determine the net periodic benefit cost for the twelve months endedDecember 31:

	2018						2017						2016
			Non-Qualified						Non-Qualified						Non-Qualified
	Retirement Income Plan		Supplemental Retirement Plan		Excess Benefit Plan		Retirement Income Plan		Supplemental Retirement Plan		Excess Benefit Plan		Retirement Income Plan		Supplemental Retirement Plan		Excess Benefit Plan
Discount rate
Benefit     obligation	3.77	%	3.40	%	3.81	%	4.30	%	3.76	%	4.35	%	4.57	%	3.99	%	4.63	%
Service cost	3.86	%	N/A		3.89	%	4.51	%	N/A		4.52	%	4.83	%	N/A		4.87	%
Interest cost	3.40	%	2.84	%	3.48	%	3.70	%	2.94	%	3.78	%	3.86	%	3.04	%	3.90	%
Expected long-term return on plan assets	7.5	%	N/A		N/A		7.0	%	N/A		N/A		7.0	%	N/A		N/A
Rate of compensation increase	4.5	%	N/A		4.5	%	4.5	%	N/A		4.5	%	4.5	%	N/A		4.5	%

Other Postretirement Benefits Plan

Defined Benefit Plan Disclosure [Line Items]

Schedule of Net Funded Status

The following table contains a reconciliation of the change in the benefit obligation, the fair value of plan assets and the funded status of the OPEB Plan (in thousands):

	December 31,
	2018			2017
Change in benefit obligation:
Benefit obligation at end of prior year	$	67,290		$	73,515
Service cost (a)	2,591			2,236
Interest cost	2,252			2,723
Actuarial gain	(9,295		)	(8,319		)
Benefits paid from plan assets	(3,003		)	(4,087		)
Benefits paid from corporate assets	(141		)	—
Retiree contributions	1,168			1,222
Benefit obligation at end of year	60,862			67,290
Change in plan assets:
Fair value of plan assets at end of prior year	40,873			39,115
Actual return (loss) on plan assets	(2,997		)	4,173
Employer contribution	450			450
Benefits paid from plan assets	(3,003		)	(4,087		)
Retiree contributions	1,168			1,222
Assumed expenses	(204		)	—
Fair value of plan assets at end of year	36,287			40,873
Funded status at end of year	$	(24,575	)	$	(26,417	)

_____________________

(a) Service cost for 2018 excludes assumed expenses of $204 thousand for administrative and investment expenses paid from plan assets during the year.

Schedule of Amounts Recognized in Balance Sheet

Amounts recognized in the Company's balance sheets consist of the following (in thousands):

	December 31,
	2018			2017
Current liabilities	$	—		$	—
Noncurrent liabilities	(24,575		)	(26,417		)
Total	$	(24,575	)	$	(26,417	)

Schedule of Amount Recognized in Accumulated Other Comprehensive Income (Loss)

Pre-tax amounts recognized in accumulated other comprehensive income consist of the following (in thousands):

	December 31,
	2018			2017
Net gain	$	(36,890	)	$	(35,194	)
Prior service benefit	(28,706		)	(34,857		)
Total	$	(65,596	)	$	(70,051	)

Schedule of Net Periodic Benefit Costs

Net periodic benefit cost is made up of the components listed below (in thousands):

	Years Ended December 31,
	2018			2017			2016
Service cost (a)	$	2,795		$	2,236		$	2,769
Interest cost	2,252			2,723			3,167
Expected return on plan assets	(2,435		)	(1,907		)	(1,835		)
Amortization of:
Prior service benefit	(6,151		)	(6,151		)	(3,901		)
Net gain	(2,166		)	(1,678		)	(2,374		)
Net periodic benefit cost	$	(5,705	)	$	(4,777	)	$	(2,174	)

_____________________

(a) Service cost for 2018 includes assumed expenses of $204 thousand for administrative and investment expenses paid from plan assets during the year.

Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)

The changes in benefit obligations recognized in other comprehensive income are presented below (in thousands):

	Years Ended December 31,
	2018			2017			2016
Net (gain) loss	$	(3,863	)	$	(10,586	)	$	10,143
Prior service benefit (a)	—			—			(32,697		)
Amortization of:
Prior service benefit	6,151			6,151			3,901
Net gain	2,166			1,678			2,374
Total recognized in other comprehensive income	$	4,454		$	(2,757	)	$	(16,279	)

____________________

(a) During October 2016, the Company approved and communicated a plan amendment that resulted in a remeasurement of the Company's OPEB Plan. Effective January 1, 2017, retirees and dependents that are less than 65 years of age are offered a choice between a $1,000 and $2,250 deductible plan. Additionally, retirees and dependents that are 65 years of age or greater were covered by a fully insured Medicare advantage plan.

Schedule of Recognized Net Periodic Benefit Obligation and Other Comprehensive Income

The total amount recognized in net periodic benefit cost and other comprehensive income are presented below (in thousands):

	Years Ended December 31,
	2018			2017			2016
Total recognized in net periodic benefit cost and other comprehensive income	$	(1,251	)	$	(7,534	)	$	(18,453	)

Schedule of Allocation of Plan Assets

The Company’s target allocations for the plan’s assets are presented below:

	December 31, 2018
Equity securities	49.3	%
Fixed income	34.3	%
Alternative investments	16.4	%
Total	100.0	%

Fair Value, Measurement Inputs, Disclosure

The fair value of the Company’s OPEB Plan assets at December 31, 2018 and 2017 and the level within the three levels of the fair value hierarchy defined by the FASB guidance on fair value measurements are presented in the table below (in thousands):

Description of Securities	Fair Value as of December 31, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and Cash Equivalents	$	1,353	$	1,353	$	—	$	—
Institutional Funds (a)
Equity funds	17,887		17,887		—		—
Fixed income funds	11,437		11,437		—		—
Multi asset funds	3,576		3,576		—		—
Real asset funds	1,405		1,405		—		—
Total Institutional Funds	34,305		34,305		—		—
Limited Partnership Interest in Real Estate (b)	629
Total Plan Investments	$	36,287	$	35,658	$	—	$	—
Description of Securities	Fair Value as of December 31, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and Cash Equivalents	$	809	$	809	$	—	$	—
Institutional Funds (a)
Equity funds	19,862		19,862		—		—
Fixed income funds	13,686		13,686		—		—
Multi asset funds	4,137		4,137		—		—
Real asset funds	1,657		1,657		—		—
Total Institutional Funds	39,342		39,342		—		—
Limited Partnership Interest in Real Estate (b)	722
Total Plan Investments	$	40,873	$	40,151	$	—	$	—

 ___________________

(a) The institutional funds are invested in equity or fixed income securities, or a combination thereof. The investment objective of each fund is to produce returns in excess of, or commensurate with, its predefined index.

(b) This investment is a commercial real estate partnership that purchases land, develops limited infrastructure and sells it for commercial development. The OPEB Plan trust was restricted from selling its partnership interest during the life of the partnership, which spanned 7 years. Return of investment is realized as land is sold. The fair value of the limited partnership interest in real estate is based on the NAV of the partnership which reflects the appraised value of the land. The partnership term expired on June 30, 2016. Upon expiration, dissolution of the partnership commenced and, as a result, the general partner of the partnership is attempting to sell the remaining inventory as soon as possible at the highest pricing possible.

Changes in Fair Value of Investments in Real Estate

The table below reflects the changes in the fair value of the investments in real estate during the period (in thousands):

	Fair Value of Investments  in Real Estate
Balance at December 31, 2016	$	1,311
Sale of land	(504		)
Unrealized loss in fair value	(85		)
Balance at December 31, 2017	722
Sale of land	(9		)
Unrealized loss in fair value	(84		)
Balance at December 31, 2018	$	629

Schedule of Expected Benefit Payments

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

2019	$	2,145
2020	2,542
2021	2,719
2022	2,869
2023	2,999
2024-2028	16,803

Other Postretirement Benefits Plan | Accrued Postretirement Benefit

Defined Benefit Plan Disclosure [Line Items]

Schedule of Assumptions Used

The following are the weighted-average actuarial assumptions used to determine the accrued benefit obligations:

	December 31,
	2018		2017
Discount rate at end of year	4.43	%	3.79	%
Health care cost trend rates:
Initial
Pre-65 medical	6.00	%	6.25	%
Post-65 medical	4.50	%	4.50	%
Pre-65 drug	7.00	%	7.25	%
Post-65 drug	8.50	%	10.00	%
Ultimate	4.50	%	4.50	%
Year ultimate reached (a)	2026		2026

_____________________

(a) Pre-65 medical reaches the ultimate trend rate in 2025. Additionally, the Post-65 medical trend is assumed to be 4.50% for all years into the future.

Other Postretirement Benefits Plan | Net Periodic Benefit Costs

Defined Benefit Plan Disclosure [Line Items]

Schedule of Assumptions Used

The following are the weighted-average actuarial assumptions used to determine the net periodic benefit cost for the twelve months endedDecember 31:

	2018		2017		2016 (a)
Discount rate:					January 1 - September 30		October 1 - December 31
Benefit obligation	3.79	%	4.37	%	4.59	%	3.75	%
Service cost	3.87	%	4.59	%	4.91	%	4.03	%
Interest cost	3.38	%	3.76	%	3.86	%	3.15	%
Expected long-term return on plan assets	6.12	%	4.875	%	4.875	%	4.875	%
Health care cost trend rates:
Initial
Pre-65 medical	6.25	%	6.5	%	7.0	%	7.0	%
Post-65 medical	4.5	%	4.5	%	7.0	%	7.0	%
Pre-65 drug	7.25	%	7.5	%	7.0	%	7.0	%
Post-65 drug	10.0	%	10.5	%	7.0	%	7.0	%
Ultimate	4.5	%	4.5	%	4.5	%	4.5	%
Year ultimate reached (b)	2026		2026		2026		2026

_____________________

(a) The actuarial assumptions are evaluated by the Company at each measurement date. The OPEB Plan was remeasured at October 1, 2016 due to a plan amendment.

(b) Pre-65 medical reaches the ultimate trend rate in 2025. Additionally, the Post-65 medical trend is assumed to be 4.50% for all years into the future.