Pension Plan and Other Postretirement Benefits (Tables)

9 Months Ended

Sep. 30, 2016

Compensation and Retirement Disclosure [Abstract]

Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan

The following tables provide the benefit obligations, fair value of assets and a statement of the funded status as of the acquisition date (in thousands):

	Defined Benefit Pension Plan			Other Postretirement Benefit Plans
Benefit obligations, at acquisition	$	37,443		$	4,568
Fair value of plan assets, at acquisition	22,813			—
Funded status:
Total liability, at acquisition	(14,630		)	(4,568		)
Net pension income (expense) since acquisition date	39			(79		)
Total liability as of September 30, 2016	$	(14,591	)	$	(4,647	)

Components of Net Periodic Benefit Costs

The following table provides the components of net periodic benefit cost (income) for the plans for the period from acquisition date to December 31, 2016 (in thousands):

	Defined Benefit Pension Plan			Other Postretirement Benefit Plans
Components of net periodic benefit cost (income):
Service cost	$	—		$	18
Interest cost	956			108
Expected return on plan assets	(1,018		)	—
Net periodic cost (income)	$	(62	)	$	126

Assumptions Used to Determine Net Periodic Cost and Benefit Obligations

The assumptions used in the measurements of the Company’s benefit obligations at May 6, 2016 for the plans are shown in the following table:

	Defined Benefit Pension Plan		Other Postretirement Benefit Plans
Discount rate	3.85	%	3.85	%

The assumptions used in the measurements of the Company’s net periodic benefit cost (income) for the consolidated statement of operations for the period from acquisition date through December 31, 2016 are:

	Defined Benefit Pension Plan		Other Postretirement Benefit Plans
Discount rate	3.85	%	3.85	%
Expected return on plan assets	6.75	%	—	%

Actual and Target Allocation for Plan assets

The average actual asset allocations by asset category and the fair value by asset category as of May 6, 2016 were as follows (in thousands):

Asset Category	Actual Allocation		Fair Value
Large Cap Value	32	%	$	7,244
Mid Cap Blend	9	%	2,026
Small Cap Blend	5	%	1,151
Foreign Stock – Large Cap	30	%	6,867
Bond	20	%	4,611
Cash and cash equivalents	4	%	914
Total	100	%	$	22,813

The actual and target allocation for plan assets is broadly defined and measured as follows:

Asset Category	Actual Allocation		Target Allocation
Equity securities	76	%	65-75
Bond securities and cash equivalents	24	%	25-35
Total	100	%	100	%

Estimated Future Pension Benefit Payments and Other Postretirement Benefit Plan Payments

The following estimated future pension benefit payments and other postretirement benefit plan payments which reflect expected future service, as appropriate, are expected to be paid in the years indicated (in thousands):

	Defined Benefit Pension Plan		Other Postretirement Benefit Plans
Remainder of 2016	$	186	$	48
2017	700		136
2018	720		131
2019	768		134
2020	868		142
Aggregate of next five years	6,219		977