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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2016
Multiemployer Plans [Line Items]  
Summary Of Stock Option Activity
A summary of the Company’s stock option activity and related information is presented below: 
 
2016
2015
2014
 
Options
Weighted-Average Exercise Price
Options
Weighted-Average Exercise Price
Options
Weighted-Average Exercise Price
Outstanding at January 1
95,015

$
38.38

167,554

$
36.74

173,601

$
35.26

     Granted
24,348

43.73

12,961

46.41

13,953

44.43

     Exercised
(32,750
)
35.28

(81,500
)
36.63

(20,000
)
29.19

     Forfeited
—

—

(4,000
)
31.66

—

—

Outstanding at December 31
86,613

$
41.08

95,015

$
38.38

167,554

$
36.74

 
 
 
 
 
 
 
Exercisable at end of year
3,000

$
29.45

19,750

$
34.54

89,750

$
36.73

 
 
 
 
 
 
 
Nonvested at beginning of year
75,265

39.38

77,804

36.76

96,769

33.10

Granted during the year
24,348

43.73

12,961

46.41

13,953

44.43

Vested during the year
(16,000
)
35.09

(15,500
)
32.09

(32,918
)
29.25

Forfeited during the year
—

—

—

—

—

—

Nonvested at end of year
83,613

$
41.47

75,265

$
39.38

77,804

$
36.76



Information regarding stock option exercises and stock-based compensation expense associated with stock options is provided in the following table (in millions):
 
For the year ended December 31,
 
2016
2015
2014
Proceeds from stock option exercises
$
1.2

$
3.0

$
0.6

Intrinsic value of stock options exercised
0.6

0.9

0.3

 
 
 
 
Stock-based compensation expense associated with stock options
$
0.2

$
0.2

$
0.2

Income tax benefit recognized related to stock-based compensation
0.1

0.1

0.1

 
 
 
 
At period-end:
2016
 
 
Unrecognized stock-based compensation expense
$
0.4

 
 
Weighted average period in which the above amount is expected to be recognized
2.4

years
 
Stock Options Outstanding And Exercisable
Additional information regarding the Company's stock options outstanding and exercisable at December 31, 2016, is provided in the following table:  
Ranges of Exercise Prices
No. of Options Outstanding
Weighted-Average Exercise Price
Weighted-Average Remaining Contractual Life (Months)
Aggregate Intrinsic Value
(in thousands)
No. of Options Currently Exercisable
Weighted-Average Exercise Price of Options Currently Exercisable
Weighted-Average Remaining Contractual Life (Months)
Aggregate Intrinsic Value of Options Currently Exercisable 
(in thousands)
$ 25.00 - 29.99
1,250

$
28.15

2.2
$
49

1,250

$
28.15

2.2

$
49

     30.00 - 34.99
1,750

30.38

1.9
65

1,750

30.38

1.9

65

     35.00 - 39.99
32,351

36.51

5.7
1,006

—

—

—

—

     40.00 - 44.99
38,301

43.99

8.5
904

—

—

—

—

     45.00 - 50.00
12,961

46.61

8.2
272

—

—

—

—

 
86,613

 
 
$
2,296

3,000

 
 
$
114
Weighted Average Assumptions Estimate The Fair Value Of Options Granted
The following weighted average assumptions were used to estimate the fair value of options granted by the Company:
 
2016
2015
2014
 
 
 
 
Risk-free interest rate
1.43
%
1.95
%
2.42
%
Expected dividend yield
3.86
%
3.50
%
3.60
%
Volatility factor
30.76
%
45.40
%
48.75
%
Expected life of option
7.0 years

7.0 years

8.0 years
Restricted Shares Activity And Related Information
A summary of the Company’s restricted shares activity and related information is presented below:
 
 
2016
2015
2014
 
Restricted Awards
Average Market Price at Grant
Restricted Awards
Average Market Price at Grant
Restricted Awards
Average Market Price at Grant
 
 
 
 
 
 
 
Outstanding at January 1
172,921

 
163,431

 
142,469

 
     Granted
30,601

$
46.39

26,840

$
46.45

27,162

$
39.72

     Forfeited/Vested
(22,900
)
 
(17,350
)
 
(6,200
)
 
Outstanding at December 31
180,622

 
172,921

 
163,431

 
Summary Of Activity Within The Defined Benefit Plan
The following table summarizes activity within the Company's Defined Benefit Plans (dollars in thousands):

 
Pension Benefits
 
2016
2015
 
 
 
Change in fair value of plan assets:
 
 
Fair value at beginning of measurement period
$
17,435

$
14,667

Actual gain (loss) on plan assets
669

(231
)
Contributions
—

4,399

Benefits paid
(987
)
(1,400
)
Fair value at end of measurement period
17,117

17,435

 
 
 
Change in benefit obligation:
 
 
Benefit obligation at beginning of measurement period
(19,700
)
(21,390
)
Interest cost
(820
)
(813
)
Actuarial (loss) gain
(263
)
334

Assumption changes
54

769

Benefits paid
987

1,400

Benefit obligation at end of measurement period
(19,742
)
(19,700
)
 
 
 
Funded status
$
(2,625
)
$
(2,265
)
 
 
 
Weighted-average assumptions for benefit obligation:
 
 
Discount rate
4.01
%
4.26
%
Expected long-term rate of return
5.83
%
5.75
%
 
 
 
Weighted-average assumptions for net periodic pension cost:
 
 
Discount rate
4.26
%
3.93
%
Expected long-term rate of return
5.75
%
6.92
%
Net Periodic Pension Cost Of The Defined Benefit Plan
The following table presents the components of the net periodic pension cost of the Company's Defined Benefit Plans (in thousands):
 
2016
2015
2014
 
 
 
 
Components of net periodic benefit:
 
 
 
Interest cost
$
820

$
813

$
836

Expected return on plan assets
(1,154
)
(937
)
(1,032
)
Net amortization and deferral
849

960

696

Net Periodic Pension Cost
$
515

$
836

$
500
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
Amounts related to the Company's Defined Benefit Pension Plans recognized as a component of other comprehensive income were as follows (in thousands):
 
2016
2015
2014
Net actuarial gain (loss)
$
157

$
935

$
(3,915
)
Deferred tax (expense) benefit
(58
)
(345
)
1,445

   Other comprehensive income (loss), net of tax
$
99

$
590

$
(2,470
)

Amounts recognized as a component of accumulated other comprehensive loss as of December 31, 2016 and 2015 were as follows (in thousands):
 
2016
2015
Net actuarial loss
$
7,399

$
7,551

Deferred tax benefit
(2,739
)
(2,792
)
   Amounts included in accumulated other comprehensive loss, net of tax
$
4,660

$
4,759
Summary Of Expected Benefit Payments
The following table summarizes the expected benefits to be paid in each of the next five years and in the aggregate for the five years thereafter (in thousands):
Plan Year Ending December 31,
Expected Benefits to be Paid
 
 
2017
$
1,134

2018
1,243

2019
1,094

2020
1,079

2021
1,114

2022 through 2026
5,697
Summary Of Assets Segregated By Level Of Valuation Inputs Within The Fair Value Hierarchy
The major categories of assets in the Company’s Defined Benefit Plans as of year-end are presented in the following table (in thousands).  Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 utilized to measure fair value (See Note Nineteen).

 
Total
Level 1
Level 2
Level 3
2016
 
 
 
 
Cash and cash equivalents
$
2,101

$
2,101

$
—

$
—

Mutual funds/Investment funds
6,063

5,797

266

—

Common stocks
4,284

3,103

1,181

—

Mortgage-backed securities
514

—

514

—

U.S. Treasuries
971

—

971

—

Corporate bonds
1,597

—

1,597

—

Alternative investments**
1,587

972

—

—

Total
$
17,117

$
11,973

$
4,529

$
—

** Includes an investment of $615 that has not been categorized in the fair value hierarchy, as permitted by ASU No. 2015-07.
 
 
 
 
 
2015
 
 
 
 
Cash and cash equivalents
$
1,441

$
1,441

$
—

$
—

Mutual funds/Investment funds
5,617

5,473

144

—

Common stocks
5,082

3,880

1,202

—

Mortgage-backed securities
288

—

288

—

U.S. Treasuries
1,313

—

1,313

—

Corporate bonds
1,043

—

1,043

—

Alternative investments
2,651

607

1,371

673

Total
$
17,435

$
11,401

$
5,361

$
673
Horizon Defined Benefit Plan  
Multiemployer Plans [Line Items]  
Schedule of Allocation of Plan Assets
The target, allowable, and current allocation percentages of plan assets are as follows:
 
Target Allocation 2016
Allowable- Allocation Range
Percentage of Plan Assets
At December 31
 
2016
2015
 
 
 
 
 
Equity securities
62.5
%
35-88%
48
%
51
%
Fixed income securities
15.0
%
10-40%
25
%
20
%
Cash and cash equivalents
2.5
%
2-20%
15
%
10
%
Alternative investments
20.0
%
0-25%
12
%
19
%
Total
100.0
%
 
100
%
100
%
Community Defined Benefit Plan  
Multiemployer Plans [Line Items]  
Schedule of Allocation of Plan Assets
The target, allowable, and current allocation percentages of plan assets are as follows:

 
Target Allocation 2016
Allowable- Allocation Range
Percentage of Plan Assets
At December 31
 
2016
2015
 
 
 
 
 
Equity securities
40
%
29%-51%
41
%
25
%
Fixed income securities
60
%
42%-81%
59
%
75
%
 
100
%
 
100
%
100
%