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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2017
Defined Benefit Post-retirement Plans [Abstract]  
Components of accumulated other comprehensive income (loss), net periodic benefit cost
The components of AOCI, which have not yet been recognized as components of net periodic benefit cost, related to pensions and other post-retirement benefits are summarized below:

 
 
Pension Benefits
  
Other Benefits
 
(In thousands)
 
2017
  
2016
  
2017
  
2016
 
Net actuarial loss
 
$
23,585
  
$
28,328
  
$
1,731
  
$
1,430
 
Prior service cost (credit)
  
94
   
140
   
196
   
(38
)
Total amounts recognized in AOCI (pre-tax)
 
$
23,679
  
$
28,468
  
$
1,927
  
$
1,392
 
 
Changes in benefit obligations, changes in plan assets, and the funded status of the pension plans and postretirement benefits
A December 31 measurement date is used for the pension, supplemental pension and post-retirement benefit plans.  The following table sets forth changes in benefit obligations, changes in plan assets and the funded status of the pension plans and other post-retirement benefits:

 
 
Pension Benefits
  
Other Benefits
 
(In thousands)
 
2017
  
2016
  
2017
  
2016
 
Change in benefit obligation:
            
Benefit obligation at beginning of year
 
$
90,477
  
$
92,445
  
$
7,478
  
$
8,322
 
Service cost
  
1,511
   
2,162
   
12
   
14
 
Interest cost
  
4,168
   
4,223
   
357
   
353
 
Plan participants' contributions
  
-
   
-
   
218
   
234
 
Actuarial loss (gain)
  
4,028
   
(1,635
)
  
388
   
(786
)
Curtailment/ settlement
  
-
   
(715
)
  
286
   
-
 
Benefits paid
  
(9,234
)
  
(6,003
)
  
(689
)
  
(659
)
Projected benefit obligation at end of year
 $
90,950
  $
90,477
  $
8,050
  $
7,478
 
Change in plan assets:
                
Fair value of plan assets at beginning of year
 $
116,216
  $
107,529
  $
-
  $
-
 
Actual return on plan assets
  
15,032
   
8,259
   
-
   
-
 
Employer contributions
  
2,212
   
6,431
   
471
   
425
 
Plan participants' contributions
  
-
   
-
   
218
   
234
 
Benefits paid
  
(9,234
)
  
(6,003
)
  
(689
)
  
(659
)
Fair value of plan assets at end of year
 $
124,226
  $
116,216
  $
-
  $
-
 
 
                
Funded (unfunded) status at year end
 
$
33,276
  
$
25,739
  
$
(8,050
)
 
$
(7,478
)
Amounts recognized in balance sheet
An asset is recognized for an overfunded plan and a liability is recognized for an underfunded plan. The accumulated benefit obligation for pension benefits was $91.0 million and $90.5 million at December 31, 2017 and 2016, respectively. The accumulated benefit obligation for other post-retirement benefits was $8.1 million and $7.5 million at December 31, 2017 and 2016, respectively. The funded status of the pension and other post-retirement benefit plans has been recognized as follows in the consolidated balance sheets at December 31, 2017 and 2016. 

 
 
Pension Benefits
  
Other Benefits
 
(In thousands)
 
2017
  
2016
  
2017
  
2016
 
Other assets
 
$
52,775
  
$
45,344
  
$
-
  
$
-
 
Other liabilities
  
(19,499
)
  
(19,605
)
  
(8,050
)
  
(7,478
)
Funded status
 
$
33,276
  
$
25,739
  
$
(8,050
)
 
$
(7,478
)
 
Assumptions used to determine benefit obligations and net periodic pension cost
The following assumptions were used to determine the benefit obligation and the net periodic pension cost for the years indicated:

 
 
Years ended December 31,
 
 
 
2017
  
2016
  
2015
 
Weighted average assumptions:
         
The following assumptions were used to determine benefit obligations:
         
Discount rate
  
4.20% - 4.21
%
  
4.76%-4.84
%
  
4.69%-4.71
%
Expected long-term return on plan assets
  
7.00
%
  
7.00
%
  
7.00
%
Rate of compensation increase
  
3.00
%
  
3.00
%
  
3.00
%
 
            
The following assumptions were used to determine net periodic pension cost:
            
Discount rate
  
4.76% - 4.84
%
  
4.69%-4.71
%
  
4.19%-4.30
%
Expected long-term return on plan assets
  
7.00
%
  
7.00
%
  
7.50
%
Rate of compensation increase
  
3.00
%
  
3.00
%
  
3.00%-3.75
%
 
Components of net periodic pension benefits and other benefit costs
Net periodic benefit cost and other amounts recognized in OCI for the years ended December 31 included the following components:

 
 
Pension Benefits
  
Other Benefits
 
(In thousands)
 
2017
  
2016
  
2015
  
2017
  
2016
  
2015
 
Components of net periodic benefit cost:
                  
Service cost
 
$
1,511
  
$
2,162
  
$
2,677
  
$
12
  
$
14
  
$
17
 
Interest cost
  
4,168
   
4,223
   
3,977
   
357
   
353
   
374
 
Expected return on plan assets
  
(7,929
)
  
(7,430
)
  
(8,589
)
  
-
   
-
   
-
 
Amortization of gain due to curtailment
  
-
   
(768
)
  
(154
)
  
-
   
-
   
-
 
Amortization of prior service cost (credit)
  
46
   
32
   
21
   
51
   
(57
)
  
(219
)
Amortization of unrecognized net loss
  
1,668
   
2,235
   
2,174
   
87
   
117
   
263
 
Net periodic pension cost
 
$
(536
)
 
$
454
  
$
106
  
$
507
  
$
427
  
$
435
 
 
                        
Other changes in plan assets and benefit obligations recognized in OCI (pre-tax):
                        
Net (gain) loss
 
$
(3,075
)
 
$
(2,464
)
 
$
6,523
  
$
388
  
$
(786
)
 
$
(333
)
Prior service cost
  
-
   
96
   
-
   
286
   
-
   
-
 
Amortization of gain due to settlement
  
-
   
(43
)
  
(46
)
  
-
   
-
   
-
 
Amortization of prior service (cost) credit
  
(46
)
  
(32
)
  
(21
)
  
(51
)
  
57
   
219
 
Amortization of unrecognized net (loss)
  
(1,668
)
  
(2,235
)
  
(2,174
)
  
(87
)
  
(117
)
  
(263
)
Total recognized in OCI
 
$
(4,789
)
 
$
(4,678
)
 
$
4,282
  
$
536
  
$
(846
)
 
$
(377
)
 
                        
Total recognized in net periodic benefit cost and OCI, pre-tax
 
$
(5,325
)
 
$
(4,224
)
 
$
4,388
  
$
1,043
  
$
(419
)
 
$
58
 
 
Estimated future benefit payments for the pension plans and other postretirement benefit plans
The following table sets forth estimated future benefit payments for the pension plans and other post-retirement benefit plans as of December 31, 2017:

(In thousands)
 
Pension
Benefits
  
Other
Benefits
 
2018
 
$
7,256
  
$
606
 
2019
  
7,087
   
598
 
2020
  
6,997
   
583
 
2021
  
6,728
   
559
 
2022
  
6,666
   
566
 
2023 - 2027
 
 
37,688
  
 
2,818
 
 
Effect of one-percentage point change in assumed health care cost trend rates
For measurement purposes, the annual rates of increase in the per capita cost of covered medical and prescription drug benefits for fiscal year 2017 were assumed to be 6.3 % to 10.5 % percent. The rates were assumed to decrease gradually to 3.9 % for fiscal year 2075 and remain at that level thereafter. Assumed health care cost trend rates have a significant effect on amounts reported for health care plans. A one-percentage point change in the health care trend rates would have the following effects as of and for the year ended December 31, 2017: 

(In thousands)
 
One
Percentage
Point
Increase
  
One
Percentage
Point
Decrease
 
Increase (decrease) on total service and interest cost components
 
$
40
  
$
(34
)
Increase (decrease) on post-retirement accumulated benefit obligation
  
855
   
(738
)
Target and actual allocations of defined benefit pension plan's assets
The target and actual allocations expressed as a percentage of the defined benefit pension plan’s assets are as follows:

 
 
Target 2017
  
2017
  
2016
 
Cash and cash equivalents
  
0 - 20%
 
  
3%
 
  
2%
 
Fixed income securities
  
25 - 55%
 
  
45%
 
  
46%
 
Equities
  
40 - 65%
 
  
52%
 
  
52%
 
Total
      
100%
 
  
100%
 
 
Financial instruments recorded at fair value on a recurring basis by the Plan
The following table presents the financial instruments recorded at fair value on a recurring basis by the Plan:

(In thousands)
 
Level 1
  
Level 2
  
December 31, 2017
 
Cash and cash equivalents
 
$
3,684
  
$
-
  
$
3,684
 
Foreign equity mutual funds
  
44,508
   
-
   
44,508
 
Equity mutual funds
  
26,747
   
-
   
26,747
 
U.S. government bonds
  
-
   
99
   
99
 
Corporate bonds
  
-
   
49,188
   
49,188
 
Total
 
$
74,939
  
$
49,287
  
$
124,226
 
 
 
 
Level 1
  
Level 2
  
December 31, 2016
 
Cash and cash equivalents
 
$
3,500
  
$
-
  
$
3,500
 
Foreign equity mutual funds
  
33,687
   
-
   
33,687
 
Equity mutual funds
  
28,256
   
-
   
28,256
 
U.S. government bonds
  
-
   
1,283
   
1,283
 
Corporate bonds
  
-
   
49,490
   
49,490
 
Total
 
$
65,443
  
$
50,773
  
$
116,216