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EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2018
Defined Benefit Plan [Abstract]  
Schedule of obligation and funded status
The following table sets forth the obligation and funded status as of December 31, 2018 and 2017:
(In Thousands)
 
2018
 
2017
Change in benefit obligation:
 
 

 
 

Benefit obligation at beginning of year
 
$
20,669

 
$
19,289

Interest cost
 
706

 
756

Actuarial loss
 
141

 
159

Benefits paid
 
(797
)
 
(782
)
Other, change in actuarial assumptions
 
(1,697
)
 
1,247

Benefit obligation at end of year
 
$
19,022

 
$
20,669

 
 
 
 
 
Change in plan assets:
 
 

 
 

Fair value of plan assets at beginning of year
 
$
17,486

 
$
15,090

Actual return on plan assets
 
(1,078
)
 
2,424

Employer contribution
 
750

 
750

Benefits paid
 
(797
)
 
(782
)
Adjustment to fair value of plan assets
 
5

 
4

Fair value of plan assets at end of year
 
16,366

 
17,486

Funded status
 
$
(2,656
)
 
$
(3,183
)
 
 
 
 
 
Accounts recognized on balance sheet as:
 
 

 
 

Total liabilities
 
$
(2,656
)
 
$
(3,183
)
 
 
 
 
 
Amounts not yet recognized as a component of net periodic pension cost:
 
 

 
 

Amounts recognized in accumulated other comprehensive income (loss) consist of:
 
 

 
 

Net loss
 
$
6,678

 
$
6,227

Schedule of components of the net periodic cost and other amounts recognized in other comprehensive income (loss)
Components of Net Periodic Cost and Other Amounts Recognized in Other Comprehensive Income (Loss) as of December 31, 2018, 2017, and 2016 are as follows:
(In Thousands)
 
2018
 
2017
 
2016
Net periodic pension cost:
 
 

 
 

 
 

Service cost
 
$

 
$

 
$
55

Interest cost
 
706

 
756

 
775

Expected return on plan assets
 
(1,098
)
 
(926
)
 
(989
)
Amortization of unrecognized net loss
 
165

 
174

 
153

Net periodic (benefit) cost
 
$
(227
)
 
$
4

 
$
(6
)
Schedule of weighted-average assumptions used to determine benefit obligations and net periodic cost
Weighted-average assumptions used to determine benefit obligations at December 31, 2018, 2017, and 2016
 
2018
 
2017
 
2016
Discount rate
4.10
%
 
3.47
%
 
3.98
%
Rate of compensation increase
N/A

 
N/A

 
N/A


Weighted-average assumptions used to determine net periodic cost for years ended December 31, 2018, 2017, and 2016:
 
2018
 
2017
 
2016
Discount rate
3.47
%
 
3.98
%
 
4.17
%
Expected long-term return on plan assets
7.00
%
 
7.00
%
 
7.00
%
Schedule of plan's weighted-average asset allocations by asset category

The Plan’s weighted-average asset allocations at December 31, 2018 and 2017 by asset category are as follows:
Asset Category
 
2018
 
2017
Cash
 
4.70
%
 
4.96
%
Fixed income securities
 
12.98
%
 
11.42
%
Equity
 
64.26
%
 
66.90
%
Inflation Hedges/Real Assets
 
5.90
%
 
5.82
%
Hedged Strategies
 
12.16
%
 
10.90
%
Total
 
100.00
%
 
100.00
%
Schedule setting forth by level, within the fair value hierarchy the Plan's assets at fair value
The following table sets forth by level, within the fair value hierarchy detailed in Note 21 - Fair Value Measurements, the Plan’s assets at fair value as of December 31, 2018 and 2017:
 
 
2018
(In Thousands)
 
Level I
 
Level II
 
Level III
 
Total
Assets:
 
 

 
 

 
 

 
 

Cash and cash equivalents
 
$
770

 
$

 
$

 
$
770

Mutual funds - taxable fixed income
 
2,120

 

 

 
2,120

Mutual funds - domestic equity
 
8,550

 

 

 
8,550

Mutual funds - international equity
 
1,970

 

 

 
1,970

Inflation Hedges/Real Assets
 
965

 

 

 
965

Hedged Strategies
 
1,991

 

 

 
1,991

Total assets at fair value
 
$
16,366

 
$

 
$

 
$
16,366


 
 
2017
(In Thousands)
 
Level I
 
Level II
 
Level III
 
Total
Assets:
 
 

 
 

 
 

 
 

Cash and cash equivalents
 
$
868

 
$

 
$

 
$
868

Mutual funds - taxable fixed income
 
1,992

 

 

 
1,992

Mutual funds - domestic equity
 
9,358

 

 

 
9,358

Mutual funds - international equity
 
2,343

 

 

 
2,343

Inflation Hedges/Real Assets
 
1,019

 

 

 
1,019

Hedged Strategies
 
1,906

 

 

 
1,906

Total assets at fair value
 
$
17,486

 
$

 
$

 
$
17,486

Schedule of future benefit payments expected to be paid
The following future benefit payments are expected to be paid:
(In Thousands)
 
2019
$
886

2020
918

2021
910

2022
929

2023
1,000

2024-2028
5,444

 
$
10,087