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Pension and Other Postretirement Plans (Tables)
12 Months Ended
Dec. 31, 2013
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Components of Periodic Benefit Cost
Components of Net Periodic Benefit Cost
 
Years Ended December 31,
 
2013
 
2012
 
2011
 
(In thousands)
 
 
 
 
 
 
Components of net periodic benefit costs:
 
 
 
 
 
Interest cost
$
873

 
928

 
1,000

Service cost
190

 
174

 
147

Expected return on plan assets
(1,134
)
 
(1,070
)
 
(1,094
)
Amortization of prior service cost
4

 
4

 
4

Amortization of net loss
812

 
786

 
542

 
 
 
 
 
 
Net periodic benefit cost
745

 
822

 
599

 
 
 
 
 
 
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
 

 
 

 
 

Net loss (gain)
(3,921
)
 
1,389

 
 

Amortization of prior service cost
(4
)
 
(4
)
 
 

Amortization of net loss (gain)
(812
)
 
(786
)
 
 

 
 
 
 
 
 
Total recognized in other comprehensive income
(4,737
)
 
599

 
 

 
 
 
 
 
 
Total recognized in net periodic benefit cost and other comprehensive income
$
(3,992
)
 
1,421

 
 

Schedule of Allocation of Plan Assets
 The following table sets forth the Company’s pension plan assets within the fair value hierarchy as of December 31, 2013.

 
December 31, 2013
 
Total
 
Level 1
 
Level 2
 
Level 3
 
(In thousands)
 
 
 
 
 
 
 
 
Cash
$
216

 
216

 

 

Equity securities
 

 
 
 
 
 
 
Domestic
13,037

 
13,037

 

 

International
248

 
248

 

 

Debt securities
 

 
 
 
 
 
 
U.S. government agencies

 

 

 

Corporate bonds
5,407

 

 
5,407

 

 
 
 
 
 
 
 
 
Total
$
18,908

 
13,501

 
5,407

 

Pension Allocation by Type of Fund and Target Allocation

The plan’s weighted-average asset allocations by asset category are as follows:

 
December 31,
 
2013
 
2012
 
2011
 
 
 
 
 
 
Asset Category:
 
 
 
 
 
Equity securities
70%
 
60%
 
57%
Debt securities
29%
 
35%
 
33%
Cash and cash equivalents
1%
 
5%
 
10%
 
 
 
 
 
 
Total
100%
 
100%
 
100%
Schedule of Acceptable Ranges for Each Asset as per Investment Policy Statement
The investment policy statement sets forth the following acceptable ranges for each asset's class.

 
Acceptable Range
 
 
Asset Category:
 
Equity securities
55-70%
Debt securities
30-40%
Cash and cash equivalents
0-15%
Schedule of Assumptions Used
Assumptions
 
December 31,
 
2013
 
2012
 
 
 
 
Weighted-average assumptions used to determine benefit obligations:
 
 
 
Discount rate
4.60
%
 
3.75
%
Rate of compensation increase
n/a

 
n/a


 
December 31,
 
2013
 
2012
 
2011
 
 
 
 
 
 
Weighted-average assumptions used to determine net periodic benefit cost:
 
 
 
 
 
Discount rate
3.75
%
 
4.25
%
 
5.25
%
Expected long-term return on plan assets
7.00
%
 
7.00
%
 
7.00
%
Rate of compensation increase
n/a

 
n/a

 
n/a

Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands):

2014
$
1,334

2015
1,318

2016
1,328

2017
1,412

2018
1,382

2019-2023
6,698

Defined Benefit Pension Plans [Member]
 
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Defined Benefit Plans Disclosures
 A detail of plan disclosures is provided below.

Obligations and Funded Status

 
December 31,
 
2013
 
2012
 
(In thousands)
 
 
 
 
Changes in projected benefit obligations:
 
 
 
Projected benefit obligations at beginning of year
$
23,535

 
21,890

Service cost
190

 
174

Interest cost
873

 
928

Actuarial loss
(2,088
)
 
1,833

Benefits paid
(1,323
)
 
(1,290
)
 
 
 
 
Projected benefit obligations at end of year
21,187

 
23,535

 
 
 
 
Changes in plan assets:
 

 
 

Fair value of plan assets at beginning of year
16,813

 
15,688

Actual return on plan assets
2,967

 
1,513

Contributions
451

 
902

Benefits paid
(1,323
)
 
(1,290
)
 
 
 
 
Fair value of plan assets at end of year
18,908

 
16,813

 
 
 
 
Funded status at end of year
$
(2,279
)
 
(6,722
)

Schedule of Amounts Recognized in Consolidated Financial Statements and in Other Comprehensive Income
 
December 31,
 
2013
 
2012
 
(In thousands)
 
 
 
 
Amounts recognized in the Company's consolidated financial statements:
 
 
 
Assets
$

 

Liabilities
(2,279
)
 
(6,722
)
 
 
 
 
Net amount recognized
$
(2,279
)
 
(6,722
)
 
 
 
 
Amounts recognized in accumulated other comprehensive income:
 
 
 
Net loss
$
6,551

 
11,283

Prior service cost
7

 
12

 
 
 
 
Net amount recognized
$
6,558

 
11,295

Chairman and President Non-Qualified Defined Benefit Plans [Member]
 
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Defined Benefit Plans Disclosures
Obligations and Funded Status

 
December 31,
 
2013
 
2012
 
(In thousands)
 
 
 
 
Changes in projected benefit obligations:
 
 
 
Projected benefit obligations at beginning of year
$
22,525

 
21,401

Service cost
177

 
168

Interest cost
801

 
912

Actuarial (gain) loss
(1,652
)
 
2,025

Benefits paid
(1,981
)
 
(1,981
)
 
 
 
 
Projected benefit obligations at end of year
19,870

 
22,525

 
 
 
 
Change in plan assets:
 

 
 

Fair value of plan assets at beginning of year

 

Contributions
1,981

 
1,981

Benefits paid
(1,981
)
 
(1,981
)
 
 
 
 
Fair value of plan assets at end of year

 

 
 
 
 
Funded status at end of year
$
(19,870
)
 
(22,525
)
Schedule of Amounts Recognized in Consolidated Financial Statements and in Other Comprehensive Income
 
December 31,
 
2013
 
2012
 
(In thousands)
 
 
 
 
Amounts recognized in the Company's consolidated financial statements:
 
 
 
Assets
$

 

Liabilities
(19,870
)
 
(22,525
)
 
 
 
 
Net amount recognized
$
(19,870
)
 
(22,525
)
 
 
 
 
Amounts recognized in accumulated other comprehensive income:
 

 
 

Net loss
$
8,293

 
11,117

Prior service cost
818

 
878

 
 
 
 
Net amount recognized
$
9,111

 
11,995

Schedule of Components of Periodic Benefit Cost
 
Years Ended December 31,
 
2013
 
2012
 
2011
 
(In thousands)
 
 
 
 
 
 
Components of net periodic benefit cost:
 
 
 
 
 
Service cost
$
177

 
168

 
93

Interest cost
801

 
912

 
1,033

Amortization of prior service cost
59

 
59

 
59

Amortization of net loss
1,173

 
1,142

 
888

 
 
 
 
 
 
Net periodic benefit cost
2,210

 
2,281

 
2,073

 
 
 
 
 
 
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
 
 
 
 
 
Net (gain) loss
(1,652
)
 
2,025

 
 
Amortization of prior service cost
(59
)
 
(59
)
 
 
Amortization of net (gain) loss
(1,173
)
 
(1,142
)
 
 
 
 
 
 
 
 
Total recognized in other comprehensive income
(2,884
)
 
824

 
 
 
 
 
 
 
 
Total recognized in net periodic benefit cost and other comprehensive income
$
(674
)
 
3,105

 
 
Schedule of Assumptions Used
 
December 31,
 
2013
 
2012
 
 
 
 
Weighted-average assumptions used to determine benefit obligations:
 
 
 
Discount rate
4.60
%
 
3.75
%
Rate of compensation increase
4.00
%
 
4.00
%

 
December 31,
 
2013
 
2012
 
2011
 
 
 
 
 
 
Weighted-average assumptions used to determine net periodic benefit costs:
 
 
 
 
 
Discount rate
3.75
%
 
4.25
%
 
5.25
%
Expected long-term return on plan assets
n/a

 
n/a

 
n/a

Rate of compensation increase
4.00
%
 
4.00
%
 
4.00
%
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands):

2014
$
1,982

2015
1,982

2016
1,982

2017
1,982

2018
1,982

2019-2023
9,908

Defined Benefit Postretirement Healthcare Plans [Member]
 
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Defined Benefit Plans Disclosures
Company uses a December 31 measurement date for the plan.  A detail of plan disclosures related to the plan is provided below:

Obligations and Funded Status
 
December 31,
 
2013
 
2012
 
(In thousands)
 
 
 
 
Changes in projected benefit obligations:
 
 
 
Projected benefit obligations at beginning of year
$
3,482

 
3,471

Interest cost
117

 
129

Actuarial loss (gain)
(827
)
 
(105
)
Benefits paid
(47
)
 
(13
)
 
 
 
 
Projected benefit obligations at end of year
2,725

 
3,482

 
 
 
 
Changes in plan assets:
 

 
 

Fair value of plan assets at beginning of year

 

Contributions
47

 
13

Benefits paid
(47
)
 
(13
)
 
 
 
 
Fair value of plan assets at end of year

 

 
 
 
 
Funded status at end of year
$
(2,725
)
 
(3,482
)

 
December 31,
 
2013
 
2012
 
(In thousands)
 
 
 
 
Amounts recognized in the Company's consolidated financial statements:
 
 
 
Assets
$

 

Liabilities
(2,725
)
 
(3,482
)
 
 
 
 
Net amount recognized
$
(2,725
)
 
(3,482
)
 
 
 
 
Amounts recognized in accumulated other comprehensive income:
 

 
 

Net loss
$
18

 
878

Prior service cost
567

 
670

 
 
 
 
Net amount recognized
$
585

 
1,548

Schedule of Amounts Recognized in Consolidated Financial Statements and in Other Comprehensive Income
 
December 31,
 
2013
 
2012
 
(In thousands)
 
 
 
 
Amounts recognized in the Company's consolidated financial statements:
 
 
 
Assets
$

 

Liabilities
(2,725
)
 
(3,482
)
 
 
 
 
Net amount recognized
$
(2,725
)
 
(3,482
)
 
 
 
 
Amounts recognized in accumulated other comprehensive income:
 

 
 

Net loss
$
18

 
878

Prior service cost
567

 
670

 
 
 
 
Net amount recognized
$
585

 
1,548

Schedule of Components of Periodic Benefit Cost
Components of Net Periodic Benefit Cost
 
Years Ended December 31,
 
2013
 
2012
 
2011
 
(In thousands)
 
 
 
 
 
 
Components of net periodic benefit cost:
 
 
 
 
 
Interest cost
$
117

 
129

 
143

Amortization of prior service cost
103

 
103

 
103

Amortization of net loss
33

 
41

 
19

 
 
 
 
 
 
Net periodic benefit cost
253

 
273

 
265

 
 
 
 
 
 
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
 

 
 

 
 

Net (gain) loss
(827
)
 
(105
)
 
 

Amortization of prior service cost
(103
)
 
(103
)
 
 
Amortization of net (gain) loss
(33
)
 
(41
)
 
 

 
 
 
 
 
 
Total recognized in other comprehensive income
(963
)
 
(249
)
 
 

 
 
 
 
 
 
Total recognized in net periodic benefit cost and other comprehensive income
$
(710
)
 
24

 
 

Schedule of Assumptions Used
Assumptions
 
December 31,
 
2013
 
2012
 
 
 
 
Weighted-average assumptions used to determine benefit obligations:
 
 
 
Discount rate
4.60
%
 
3.75
%
Expected long-term return on plan assets
n/a

 
n/a


For measurement purposes, a 9% annual rate of increase in the per capita cost of covered health care benefits was assumed for 2014 and future years.

Assumed health care trend rates have a significant effect on the amounts reported for the health care plans.  A one percentage point change in assumed health care cost trend rates would have the following effects for the years ended December 31:

 
December 31, 2013
 
December 31, 2012
 
1% Point Increase
 
1% Point Decrease
 
1% Point Increase
 
1% Point Decrease
 
(In thousands)
Effect on total of service and interest cost components
$
25

 
(20
)
 
29

 
(22
)
 
 
 
 
 
 
 
 
Effect on postretirement benefit obligation
$
575

 
(447
)
 
810

 
(622
)
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid (in thousands):

2014
$
71

2015
77

2016
84

2017
92

2018
100

2019-2023
654