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Employee Retirement Plans (Tables)
12 Months Ended
Dec. 31, 2015
Employee Retirement Plans  
Schedule of asset allocation for the Plan (in thousands)

 

 

 

 

 

 

 

 

    

2015

    

2014

 

 

Pooled fixed income funds

 

 —

%

42.1

%

 

Cash and cash equivalents

 

 —

 

57.9

 

 

 

 

 —

%  

100.0

%

 

 

Schedule of fair values of the Plan assets by asset category (in thousands)

 

 

 

 

 

 

 

 

 

    

2015

    

2014

 

Pooled fixed income funds

 

$

 —

 

$

785

 

Cash and cash equivalents

 

 

 —

 

 

1,077

 

 

 

$

 —

 

$

1,862

 

 

Schedule of funded status of the Plan accrued pension benefit obligation (in thousands)

 

 

 

 

 

 

 

 

 

    

2015

    

2014

 

Change in projected benefit obligation:

 

 

 

 

 

 

 

Projected benefit obligation at beginning of year

 

$

2,137

 

$

1,991

 

Interest cost

 

 

44

 

 

87

 

Actuarial (gain) loss on plan assets

 

 

(93)

 

 

171

 

Benefits paid

 

 

(2,088)

 

 

(112)

 

Projected benefit obligation at end of year

 

$

 —

 

$

2,137

 

Change in plan assets:

 

 

 

 

 

 

 

Fair value of plan assets at beginning of year

 

$

1,862

 

$

1,981

 

Employer contribution

 

 

233

 

 

 —

 

Actual loss on plan assets

 

 

(7)

 

 

(7)

 

Benefits paid

 

 

(2,088)

 

 

(112)

 

Fair value of plan assets at end of year

 

$

 

$

1,862

 

Underfunded status

 

$

 —

 

$

(275)

 

Accumulated benefit obligation

 

$

 —

 

$

2,137

 

 

Schedule of Pre-Settlement, Settlement and Post-Settlement funded status of the Plan (in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2015

 

 

    

Pre‑Settlement

    

Settlement

    

Post‑Settlement

 

Projected benefit obligation

 

$

2,039

 

$

(2,039)

 

$

 

Fair value of plan assets

 

 

2,039

 

 

(2,039)

 

 

 

Underfunded status

 

$

 

$

 

$

 

 

Schedule of net liability recognized for the Plan on the Company's Consolidated Balance Sheets (in thousands)

 

 

 

 

 

 

 

 

 

 

December 31,

 

December 31,

 

 

    

2015

    

2014

 

Accrued benefit cost

 

$

 —

 

$

275

 

 

Schedule of weighted-average assumptions used in the measurement of the Plan benefit obligation (in thousands)

 

 

 

 

 

 

 

 

    

2015

    

2014

 

 

Discount rate

 

 —

%  

3.75

%

 

Expected long-term return on plan assets

 

 —

%  

2.00

%

 

 

Schedule of components of the Plan net periodic benefit cost (in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

 

 

    

2015

    

2014

    

2013

 

Interest cost

 

$

44

 

$

87

 

$

77

 

Expected return on plan assets

 

 

(18)

 

 

(38)

 

 

(128)

 

Amortization of net actuarial loss

 

 

65

 

 

65

 

 

80

 

Net periodic benefit cost

 

$

91

 

$

114

 

$

29

 

Settlement  charge

 

 

814

 

 

 —

 

 

 —

 

Total net periodic benefit cost

 

$

905

 

$

114

 

$

29