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EMPLOYEE BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]  
Schedule of Changes in Projected Benefit Obligations
The following tables set forth the change in the projected benefit obligation and plan assets and reconcile the funded status and the amounts recognized in the Consolidated Balance Sheets for the pension and postretirement benefit plans for the two years ended December 31:
 PensionPostretirement
 2020201920202019
Change in Projected Benefit Obligation
Projected benefit obligation at beginning of year$90,261 $79,559 $1,634 $1,303 
Service cost— — 6 6 
Interest cost2,706 3,197 51 54 
Actuarial loss (gain)10,915 10,828 209 285 
Benefits paid(3,413)(3,323)(14)(14)
Projected benefit obligation at end of year$100,469 $90,261 $1,886 $1,634 
Funded Status at End of Year:
Net accrued benefit cost($21,586)($23,801)($1,886)($1,634)
Schedule of Changes in Fair Value of Plan Assets
Change in Plan Assets
Fair value of plan assets at beginning of year$66,460 $50,949 — — 
Actual return on plan assets13,329 12,975 — — 
Employer contributions3,005 6,413 14 14 
Benefits paid(3,413)(3,284)(14)(14)
Other expense(498)(593)— — 
Fair value of plan assets at end of year$78,883 $66,460 — — 
Schedule of Amounts Recognized in Balance Sheet
Amounts Recognized in the Consolidated
Balance Sheets Consist of:
Current liabilities($86)($86)($41)($38)
Noncurrent liabilities(21,500)(23,715)(1,845)(1,596)
Net amount recognized($21,586)($23,801)($1,886)($1,634)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
Net gains or losses recognized in other comprehensive (loss) income for the three years ended December 31 are as follows:
 PensionPostretirement
 202020192018202020192018
Net (losses) gains ($1,587)($1,514)($1,743)($207)($285)$149 
In 2020, net losses recognized in other comprehensive income for our pension plan was primarily due to an approximate 80 bps decline in the discount rate ($11.2 million) and unfavorable demographic experience ($0.4 million), partially offset by higher than expected return on plan assets ($9.3 million) and updates to mortality rates ($0.7 million). Net losses recognized in other comprehensive income for our postretirement plan was primarily due to an approximate 74 bps decline in the discount rate ($0.2 million).
Net gains or losses reclassified from other comprehensive income and recognized as a component of pension and postretirement expense for the three years ended December 31 are as follows:
 PensionPostretirement
 202020192018202020192018
Amortization of losses (gains)$861 $449 $673 $8 — $2 
Schedule of Net Periodic Benefit Cost Not yet Recognized
Net losses that have not yet been included in pension and postretirement expense for the two years ended December 31, but have been recognized as a component of AOCI are as follows:
 PensionPostretirement
 2020201920202019
Net losses($25,043)($24,317)($491)($292)
Deferred income tax benefit 1,216 1,216 6 6 
AOCI($23,827)($23,101)($485)($286)
Schedule of Projected Benefit Obligation and Accumulated Benefit Obligation in Excess of Fair Value
For pension and postretirement plans with accumulated benefit obligations in excess of plan assets, the following table sets forth the projected and accumulated benefit obligations and the fair value of plan assets for the two years ended December 31:
 20202019
Projected benefit obligation$100,469 $90,261 
Accumulated benefit obligation100,469 90,261 
Fair value of plan assets78,883 66,460 
Schedule of Net Benefit Costs
The following tables set forth the components of net pension and postretirement benefit cost (credit) that have been recognized during the three years ended December 31:
 PensionPostretirement
 202020192018202020192018
Components of Net Periodic Benefit Cost (Credit)
Service cost— — — $6 $6 $7 
Interest cost2,706 3,197 3,021 51 54 38 
Expected return on plan assets(3,504)(3,107)(3,934)— — — 
Amortization of losses (gains)861 449 673 8 — 2 
Net periodic benefit cost (credit)$63 $539 ($240)$65 $60 $47 
Schedule of Assumptions Used
The following table sets forth the principal assumptions inherent in the determination of benefit obligations and net periodic benefit cost of the pension and postretirement benefit plans as of December 31:
 PensionPostretirement
 202020192018202020192018
Assumptions used to determine benefit obligations at December 31:
Discount rate2.26 %3.06 %4.11 %2.42 %3.16 %4.18 %
Assumptions used to determine net periodic benefit cost for years ended December 31:
Discount rate 3.06 %4.11 %3.48 %3.16 %4.18 %3.56 %
Expected long-term return on plan assets5.72 %5.72 %7.17 %— — — 
Schedule of Allocation of Plan Assets
Our pension plans’ asset allocation (excluding short-term investments) at December 31, 2020 and 2019 are as follows:
 Percentage of 
Plan Assets
Asset Category20202019
Domestic equity securities44 %41 %
International equity securities30 %28 %
Domestic fixed income securities21 %25 %
International fixed income securities3 %4 %
Real estate fund2 %2 %
Total100 %100 %
The following table sets forth the net asset value of the plan assets as of December 31, 2020 or 2019.
December 31, 2020December 31, 2019
Asset Category
Investments at Net Asset Value:
     Separate Investment Accounts$78,883 $66,460 
Total Investments at Net Asset Value$78,883 $66,460 
Schedule of Expected Benefit Payments
Our expected benefit payments to be made for the next 10 years are as follows:
 Pension
Benefits		Postretirement
Benefits
2021$3,774 $41 
20224,026 45 
20234,135 48 
20244,327 52 
20254,445 55 
2026-203023,200 328