Employee Retirement Plans

12 Months Ended

Dec. 31, 2016

Employee Retirement Plans

Employee Retirement Plans

(6) Employee Retirement Plans

During the second quarter 2015, after receipt of a favorable determination letter from the Internal Revenue Service, the Company terminated a noncontributory defined benefit plan that, prior to the termination, covered substantially all of the union employees previously employed by its wholly owned subsidiary, Corson Lime Company (the “Plan”).  In 1997, the Company sold substantially all of the assets of Corson Lime Company, and all benefits for participants in the Plan were frozen. During 1997 and 1998, the Company made contributions to the Plan that were intended to fully fund the benefits earned by the participants. The Company recorded comprehensive income of $602, net of $344 tax expense, and comprehensive loss of $81, net of $46 tax benefit, for the years ended December 31, 2015 and 2014, respectively.  The Company made contributions of $233 and $0 to the Plan in 2015 and 2014, respectively. As a result of the termination, the Company will not be required to make any further contributions to the Plan.

The following table sets forth the Pre-Settlement, Settlement and Post-Settlement funded status of the Plan as of June 30, 2015 (the termination date):

	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	$	—	$	—	$	—

The following table provides the components of the Plan net periodic benefit cost:

	Years Ended December 31,
	2016		2015		2014
Interest cost	$	—	$	44	$	87
Expected return on plan assets		—		(18)		(38)
Amortization of net actuarial loss		—		65		65
Net periodic benefit cost	$	—	$	91	$	114
Settlement charge				814		—
Total net periodic benefit cost	$	—	$	905	$	114

The Company has a contributory retirement (401(k)) savings plans for non‑union employees and for union employees of Arkansas Lime Company and Texas Lime Company. Company contributions to these plans were $185, $174 and $184 in 2016, 2015 and 2014, respectively.