Pension Plan (Tables)

12 Months Ended

Dec. 31, 2013

Reconciliation of Defined Benefit Pension Plan

The following table shows the reconciliation of the defined benefit pension plan as of December 31, 2013 and 2012:

	2013			2012
	(000s)
Change in plan assets:
Fair value of plan assets at beginning of year	$	104,074		$	87,940
Actual return (loss) on plan assets		8,037			13,824
Employer contributions		0			7,786
Benefits paid		(5,042	)		(4,946	)
Administrative expenses		(600	)		(530	)
Fair value of plan assets at end of year	$	106,469		$	104,074
Change in benefit obligation:
Benefit obligation at beginning of year	$	114,529		$	108,446
Service cost		1,060			1,144
Interest cost		4,528			4,659
Benefits paid		(5,042	)		(4,946	)
Actuarial (gain) loss		(11,517	)		5,226
Benefit obligation at end of year	$	103,558		$	114,529
Amounts recognized in the Consolidated Balance Sheet:
Other non-current assets	$	2,911		$	0
Other non-current liabilities		0			10,455
Total amounts recognized at end of year	$	2,911		$	10,455

Components of Net Periodic Pension Cost (Benefit)

	2013			2012			2011
	(000s)
Components of net periodic cost (benefit)
Service cost	$	1,060		$	1,144		$	1,162
Interest cost		4,528			4,659			5,047
Expected return on plan assets		(7,601	)		(7,301	)		(6,566	)
Recognized actuarial loss		3,305			4,219			2,427
Net periodic cost	$	1,292		$	2,721		$	2,070

Measurement Dates

	2013		2012
Measurement Dates
Benefit obligations		12/31/2013		12/31/2012
Fair value of plan assets		12/31/2013		12/31/2012

Weighted-average Assumptions for Net Periodic Benefit Cost

	2013			2012
Weighted average assumptions as of December 31
Discount rate		4.95	%		4.05	%
Rate of compensation increase		4.00	%		4.00	%

Weighted Average Assumptions

	2013			2012			2011
Weighted-average assumptions for net periodic benefit cost calculations
Discount rate		4.05	%		4.40	%		5.54	%
Expected long-term rate at return on plan assets		7.50	%		8.00	%		8.00	%
Rate of compensation increase		4.00	%		4.00	%		4.00	%

Market Values of Our Pension Plan Assets

The market values of our pension plan assets at December 31, 2013 and December 31, 2012 by asset category are as follows:

December 31, 2013	Total		Level 1		Level 2		Level 3
Equities:
U.S. Large Cap	$	8,600	$	—	$	8,600	$	—
U.S. Mid Cap		2,740		—		2,740		—
U.S. Small Cap		2,725		—		2,725		—
International Developed		6,508		—		6,508		—
Emerging Markets		4,154		—		4,154		—
Fixed income:
Core Fixed Income		23,222		—		23,222		—
Long Duration Fixed Income		55,933		—		55,933		—
Real Estate:
REIT Fund		2,124		—		2,124		—
Cash/Currency:
Cash Equivalents		463		—		463		—
Total market value	$	106,469	$	—	$	106,469	$	—

December 31, 2012	Total		Level 1		Level 2		Level 3
Equities:
U.S. Large Cap	$	22,800	$	—	$	22,800	$	—
U.S. Mid Cap		1,566		—		1,566		—
U.S. Small-Mid Cap		7,738		—		7,738		—
U.S. Small Cap		1,583		—		1,583		—
International Developed		10,779		—		10,779		—
Emerging Markets		3,912		—		3,912		—
Fixed income:
Long Duration Fixed Income		51,355		—		51,355		—
Real Estate:
REIT Fund		3,904		—		3,904		—
Cash/Currency:
Cash Equivalents		437		—		437		—
Total market value	$	104,074	$	—	$	104,074	$	—

Estimated Future Benefit

There will be benefit payments under this plan beyond 2023.

Estimated Future Benefit Payments (000s)
2014	$	5,677
2015		5,966
2016		6,205
2017		6,407
2018		6,612
2019-2023		34,931
Total	$	65,798

Plan Assets

	2013			2012
Plan Assets
Asset Category
Equity securities		23	%		47	%
Fixed income securities		74	%		49	%
Other		3	%		4	%
Total		100	%		100	%

Asset Allocation Policy and Ranges Established in accordance with Overall Risk and Return Objectives of Portfolio

The following asset allocation policy and ranges have been established in accordance with the overall risk and return objectives of the portfolio:

	As of 12/31/13			Permitted Range
Total Equity		23	%		10-30	%
Total Fixed Income		74	%		70-90	%
Other		3	%		0-10	%