EMPLOYEE BENEFIT PLANS

6 Months Ended

Jun. 30, 2015

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

The Company has one qualified non-contributory defined benefit pension plan covering a portion of its employees and an unfunded plan that provides benefits in excess of amounts allowable under current tax law in the qualified plan. Currently, the pension plans are closed to new participants. Employee benefit plan liabilities are calculated using actuarial estimates and management assumptions. These estimates are based on historical information, along with certain assumptions about future events. Changes in assumptions, as well as changes in actual experience, could cause the estimates to change. In the first quarter of 2015, the Company lowered its return on asset assumption from 8.5 percent to 7.7 percent for 2015.

The net pension and postretirement benefit costs that have been recorded are shown in the following table:

	Pension						Postretirement
	Three Months Ended June 30,						Three Months Ended June 30,
	2015			2014			2015		2014
Components of Net Periodic Benefit Cost
Service cost		$371			$1,544			$3		$147
Interest cost	830			4,452			13		199
Expected return on plan assets	(1,007		)	(6,330		)	—		—
Amortization of prior service cost	3			277			—		4
Amortization of losses	916			2,603			3		116
Amortization of negative plan amendment	—			—			—		(133		)
Net periodic benefit cost (a)		$1,113			$2,546			$19		$333

	Pension						Postretirement
	Six Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015		2014
Components of Net Periodic Benefit Cost
Service cost		$742			$3,168			$6		$326
Interest cost	1,659			9,135			26		405
Expected return on plan assets	(2,014		)	(12,988		)	—		—
Amortization of prior service cost	6			569			—		8
Amortization of losses	1,849			5,340			6		245
Amortization of negative plan amendment	—			—			—		(267		)
Net periodic benefit cost (a)		$2,242			$5,224			$38		$717

(a) Net periodic benefit cost for the three and six months ended June 30, 2014 includes $2.0 million and $4.0 million, respectively, recorded in “Income from discontinued operations, net” on the Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income.

In 2015, the Company has no mandatory pension contribution requirement.