Note 8 - Accrued Retirement Benefits

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

8 . ACCRUED RETIREMENT BENEFITS

Accrued retirement benefits at September 30, 2016 and December 31, 2015 consisted of the following:

	September 30,			December 31,
	2016			2015
	(in thousands)
Defined benefit pension plans	$	6,274		$	6,264
Non-qualified retirement plans		3,142			4,366
Total		9,416			10,630
Less current portion		(989	)		(378	)
Non-current portion of accrued retirement benefits	$	8,427		$	10,252

The net periodic benefit costs for pension and postretirement benefits for the three and nine months ended September 30, 2016 and 2015 were as follows:

	Three Months						Nine Months
	Ended September 30,						Ended September 30,
	2016			2015			2016			2015
	(in thousands)						(in thousands)
Interest cost	$	803		$	692		$	2,182		$	2,075
Expected return on plan assets		(659	)		(826	)		(1,977	)		(2,478	)
Amortization of net loss		253			210			760			632
Recognized gain due to settlements		(654	)		-			(654	)		-
Pension and other postretirement expenses	$	(257	)	$	76		$	311		$	229
Other changes in plan assets and benefit obligations recognized in comprehensive income:
Net loss	$	253		$	210		$	760		$	632
Recognized actuarial loss due to settlement		721			-			721			-
Total recognized loss in comprehensive income	$	974		$	210		$	1,481		$	632

Included in pension and other postretirement expenses and loss in comprehensive income for the three and nine months ended September 30, 2016 are adjustments of approximately $0.7 million resulting from a one-time payment settlement with certain participants of our non-qualified retirement plans, which was paid in October 2016.