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Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2018
Defined Benefit Plan [Abstract]  
Schedule of plan assets and benefit obligation activity
Using accrual measurement dates of December 31, 2018 and 2017, plan assets and benefit obligation activity for the Pension Plan are listed below:

(In thousands)
 
2018
 
2017
Change in fair value of plan assets
 
 
 
 
Fair value at beginning of measurement period
 
$
195,735

 
$
167,047

Actual return on plan assets
 
(8,118
)
 
21,573

Employer contributions
 
—

 
15,000

Benefits paid
 
(10,540
)
 
(7,885
)
Fair value at end of measurement period
 
$
177,077

 
$
195,735

Change in benefit obligation
 
 
 
 
Projected benefit obligation at beginning of measurement period
 
$
138,698

 
$
114,455

Service cost
 
6,547

 
5,270

Interest cost
 
5,236

 
5,085

Actuarial (gain) loss
 
(16,413
)
 
21,773

Benefits paid
 
(10,540
)
 
(7,885
)
Projected benefit obligation at the end of measurement period
 
$
123,528

 
$
138,698

Funded status at end of year (fair value of plan assets less benefit obligation)
 
$
53,549

 
$
57,037
Schedule of allocation of plan assets
The asset allocation for the Pension Plan as of each measurement date, by asset category, was as follows:
 
 
 
 
 
Percentage of Plan Assets
Asset category
 
Target Allocation
 
2018
 
2017
Equity securities
 
50% - 100%
 
82
%
 
79
%
Fixed income and cash equivalents
 
remaining balance
 
18
%
 
21
%
Total
 
 
 
100
%
 
100
%
Schedule of assumptions used to determine benefit obligations
The weighted average assumptions used to determine benefit obligations at December 31, 2018, 2017 and 2016 were as follows:
 
 
 
2018
 
2017
 
2016
Discount rate
 
4.60
%
 
3.89
%
 
4.58
%
Rate of compensation increase
 
 
 


 

Under age 30
 
10.00
%
 
10.00
%
 
10.00
%
Ages 30-39
 
6.00
%
 
6.00
%
 
6.00
%
Ages 40-49
 
4.00
%
 
4.00
%
 
4.00
%
Ages 50 and over
 
3.00
%
 
3.00
%
 
3.00
%
Schedule of estimated future pension benefit Payments
The estimated future pension benefit payments reflecting expected future service for the next ten years are shown below (in thousands):

2019
$
8,428

2020
8,733

2021
9,787

2022
10,324

2023
9,698

2024-2028
51,726

Total
$
98,696
Schedule of balances of accumulated other comprehensive income loss
The following table shows ending balances of accumulated other comprehensive loss at December 31, 2018 and 2017.
 
(In thousands)
 
2018
 
2017
Prior service cost
 
$
—

 
$
—

Net actuarial loss
 
(37,560
)
 
(33,799
)
Total
 
(37,560
)
 
(33,799
)
Deferred taxes
 
7,888

 
7,098

  Disparate tax effect (1)
 
—

 
3,175

Accumulated other comprehensive loss
 
$
(29,672
)
 
$
(23,526
)
Schedule of components of net periodic benefit cost and other amounts recognized in other comprehensive income (loss)
Using actuarial measurement dates of December 31 for 2018, 2017 and 2016, components of net periodic benefit income and other amounts recognized in other comprehensive income were as follows:
 
(In thousands)
 
2018
 
2017
 
2016
Affected Line Item in the Consolidated Statements of Income
Components of net periodic benefit income and other amounts recognized in other comprehensive income (loss)
Service cost
 
$
(6,547
)
 
$
(5,270
)
 
$
(5,055
)
Employee benefits
Interest cost
 
(5,236
)
 
(5,085
)
 
(4,869
)
Other components of net periodic benefit income
Expected return on plan assets
 
13,417

 
11,455

 
10,950

Other components of net periodic benefit income
Recognized net actuarial loss
 
(1,361
)
 
(576
)
 
(773
)
Other components of net periodic benefit income
Net periodic benefit income
 
$
273

 
$
524

 
$
253

 
Net (loss) gain
 
$
(5,122
)
 
$
(11,698
)
 
$
168

 
Amortization of net loss
 
1,361

 
576

 
773

 
Total recognized in other comprehensive income (loss)
 
(3,761
)
 
(11,122
)
 
941

 
Total recognized in net benefit income and other comprehensive income (loss)
 
$
(3,488
)
 
$
(10,598
)
 
$
1,194

 
Schedule of assumptions used to determine costs
The weighted average assumptions used to determine net periodic benefit income for the years ended December 31, 2018, 2017 and 2016 are listed below:
 
 
 
2018
 
2017
 
2016
Discount rate
 
3.89
%
 
4.58
%
 
4.88
%
Rate of compensation increase
 


 


 


     Under age 30
 
10.00
%
 
10.00
%
 
10.00
%
     Ages 30-39
 
6.00
%
 
6.00
%
 
6.00
%
     Ages 40-49
 
4.00
%
 
4.00
%
 
3.00
%
     Ages 50 and over
 
3.00
%
 
3.00
%
 
3.00
%
Expected long-term return on plan assets
 
7.00
%
 
7.00
%
 
7.25
%