Pension and Post-Retirement Benefit Plans

3 Months Ended

Mar. 31, 2017

Compensation And Retirement Disclosure [Abstract]

Pension and Post-Retirement Benefit Plans

8. Pension and Post-Retirement Benefit Plans

The Company maintains pension plans covering union and certain non-union employees. For more information on the Company’s retirement plans, see Note 13 – “Pension Plans and Defined Contribution Plan” to the Company’s Consolidated Financial Statements in the 2016 Form 10-K. A summary of net periodic pension cost related to the Company’s pension plans for the three months ended March 31, 2017 and 2016 was as follows (dollars in thousands):

	For the Three Months Ended March 31,
	2017			2016
Service cost - benefit earned during the period	$	321		$	317
Interest cost on projected benefit obligation		1,862			2,343
Expected return on plan assets		(2,272	)		(2,718	)
Amortization of prior service cost		72			74
Amortization of actuarial loss		1,062			1,419
Net periodic pension cost	$	1,045		$	1,435

The Company made cash contributions of $10.0 million in April 2017 and $10.0 million during the three months ended March 31, 2016 to its pension plans. Additional contributions, if any, for 2017 have not yet been determined. As of March 31, 2017 and December 31, 2016, respectively, the Company had accrued $40.1 million and $40.2 million of pension liability within “Other long-term liabilities” on the Condensed Consolidated Balance Sheets.

Defined Contribution Plan

The Company has defined contribution plans covering certain salaried associates and non-union hourly paid associates (the “Plan”). The Plan permits associates to defer a portion of their pre-tax and after-tax salary as contributions to the Plan. The Plan also provides for Company-funded discretionary contributions as well as matching associates’ salary deferral contributions, at the discretion of the Board of Directors. The Company recorded expense of $1.9 million and $1.8 million, respectively, for the Company match of employee contributions to the Plan for the three months ended March 31, 2017 and 2016, respectively.