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Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Defined Benefit Plan [Abstract]  
Change in Benefit Obligation The funded status and amounts recognized in the 2017 and 2016 consolidated balance sheets, as measured on December 31, 2017 and 2016, respectively, for the Retirement Account and Postretirement Plan were as follows.
 
Retirement Account Plan
Postretirement
Plan
Retirement Account Plan
Postretirement
Plan
($ in Thousands)
2017
2017
2016
2016
Change in Fair Value of Plan Assets
 
 
 
 
Fair value of plan assets at beginning of year
$
295,718

$
—

$
289,599

$
—

Actual return on plan assets
41,490

—

17,097

—

Employer contributions
6,242

235

—

248

Gross benefits paid
(11,841
)
(235
)
(10,978
)
(248
)
Fair value of plan assets at end of year (a)
$
331,609

$
—

$
295,718

$
—

Change in Benefit Obligation
 
 
 
 
Net benefit obligation at beginning of year
$
176,825

$
2,403

$
171,783

$
3,436

Service cost
6,955

—

6,780

—

Interest cost
7,121

101

7,121

142

Plan amendments
—

—

(823
)
(936
)
Actuarial (gain) loss
7,363

209

2,942

9

Gross benefits paid
(11,841
)
(235
)
(10,978
)
(248
)
Net benefit obligation at end of year (a)
$
186,423

$
2,478

$
176,825

$
2,403

Funded (unfunded) status
$
145,186

$
(2,478
)
$
118,893

$
(2,403
)
Noncurrent assets
145,186

—

118,893

—

Current liabilities
—

(233
)
—

(215
)
Noncurrent liabilities
—

(2,245
)
—

(2,188
)
Asset (Liability) Recognized in the Consolidated Balance Sheets
$
145,186

$
(2,478
)
$
118,893

$
(2,403
)
(a)
The fair value of the plan assets represented 178% and 167% of the net benefit obligation of the pension plan at December 31, 2017 and 2016, respectively.
AOCI Components Amounts recognized in accumulated other comprehensive loss, net of tax, as of December 31, 2017 and 2016 follow.
 
Retirement Account Plan
Postretirement
Plan
Retirement Account Plan
Postretirement
Plan
($ in Thousands)
2017
2017
2016
2016
Prior service cost
$
(295
)
$
(531
)
$
(342
)
$
(580
)
Net actuarial loss
24,926

205

35,443

79

Amount not yet recognized in net periodic benefit cost, but recognized in accumulated other comprehensive loss
$
24,631

$
(326
)
$
35,101

$
(501
)
Changes in OCI Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss) (“OCI”), net of tax, in 2017 and 2016 were as follows.
 
Retirement Account Plan
Postretirement
Plan
Retirement Account Plan
Postretirement
Plan
($ in Thousands)
2017
2017
2016
2016
Net gain (loss)
$
14,482

$
(209
)
$
(6,132
)
$
(9
)
Amortization of prior service cost
(73
)
(75
)
(73
)
—

Amortization of actuarial loss (gain)
2,278

4

2,115

—

Plan amendments
—

—

823

936

Income tax (expense) benefit
(6,219
)
107

1,168

(353
)
Total Recognized in OCI
$
10,468

$
(173
)
$
(2,099
)
$
574
Net period benefit cost for the pension and postretirement plans The components of net periodic benefit cost for the Retirement Account Plan and Postretirement Plans for 2017, 2016, and 2015 were as follows.
 
Retirement Account Plan
Postretirement
Plan
Retirement Account Plan
Postretirement
Plan
Retirement Account Plan
Postretirement
Plan
($ in Thousands)
2017
2017
2016
2016
2015
2015
Service cost
$
6,955

$
—

$
6,780

$
—

$
11,257

$
—

Interest cost
7,121

101

7,121

142

6,617

141

Expected return on plan assets
(19,646
)
—

(20,287
)
—

(21,438
)
—

Amortization of:
 
 
 
 
 
 
Prior service cost
(73
)
(75
)
(73
)
—

50

—

Actuarial (gain) loss
2,278

4

2,115

—

2,256

—

Total net pension cost
$
(3,365
)
$
30

$
(4,344
)
$
142

$
(1,258
)
$
141
Weighted Average Benefit Assumptions
 
Retirement Account Plan
Postretirement
 Plan
Retirement Account Plan
Postretirement
Plan
 
2017
2017
2016
2016
Weighted average assumptions used to determine benefit obligations
 
 
 
 
Discount rate
3.70
%
3.70
%
4.10
%
4.10
%
Rate of increase in compensation levels
3.00
%
N/A

4.00
%
N/A

Weighted average assumptions used to determine net periodic benefit costs
 
 
 
 
Discount rate
4.10
%
4.10
%
4.30
%
4.30
%
Rate of increase in compensation levels
4.00
%
N/A

4.00
%
N/A

Expected long-term rate of return on plan assets
6.50
%
N/A

7.00
%
N/A
Plan Asset Allocation Percentages The asset allocation for the Retirement Account Plan as of the December 31, 2017 and 2016 measurement dates, respectively, by asset category were as follows.
Asset Category
2017
2016
Equity securities
60
%
60
%
Fixed income securities
37
%
39
%
Other
3
%
1
%
Total
100
%
100
%
Pension Plan Investments Based on these inputs, the following table summarizes the fair value of the Retirement Account Plan’s investments as of December 31, 2017 and 2016.
 
 
Fair Value Measurements Using
($ in Thousands)
December 31, 2017
Level 1
Level 2
Level 3
Retirement Account Plan Investments
 
 
 
 
Money market account
$
9,577

$
9,577

$
—

$
—

Common /collective trust funds
133,210

133,210

—

—

Mutual funds
188,823

188,823

—

—

Total Retirement Account Plan Investments
$
331,610

$
331,610

$
—

$
—

 
 
Fair Value Measurements Using
($ in Thousands)
December 31, 2016
Level 1
Level 2
Level 3
Retirement Account Plan Investments
 
 
 
 
Money market account
$
3,624

$
3,624

$
—

$
—

Common /collective trust funds
126,741

126,741

—

—

Mutual funds
165,353

165,353

—

—

Total Retirement Account Plan Investments
$
295,718

$
295,718

$
—

$
—
Expected Benefit Payments The projected benefit payments for the Retirement Account and Postretirement Plans at December 31, 2017, reflecting expected future services, were as follows. The projected benefit payments were calculated using the same assumptions as those used to calculate the benefit obligations listed above.
($ in Thousands)
Retirement Account Plan
Postretirement Plan
Estimated future benefit payments
 
 
2018
$
14,697

$
237

2019
14,436

197

2020
15,096

194

2021
15,278

190

2022
16,020

186

2023-2027
71,781

839
One Percentage Point Change in Assumed Health Care Cost A one percentage point change in the assumed health care cost trend rate would have the following effect.
 
2017
2016
($ in Thousands)
100 bp Increase
100 bp Decrease
100 bp Increase
100 bp Decrease
Effect on total of service and interest cost
$
7

$
(6
)
$
7

$
(6
)
Effect on postretirement benefit obligation
$
162

$
(140
)
$
173

$
(149
)