Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Obligation and funded status of the pension and postretirement benefit plans

Following are the details of the obligation and funded status of the pension and postretirement benefit plans:

(in thousands)	Pension Benefits						Postretirement Benefits
Change in benefit obligation	2013			2012			2013			2012
Benefit obligation at beginning of year	$	117,890		$	109,976		$	36,054		$	31,558
Service cost	—			—			841			752
Interest cost	4,227			4,496			1,366			1,319
Actuarial (gains) losses	(15,393		)	5,560			(4,359		)	2,969
Participant contributions	—			—			514			487
Retiree drug subsidy received	—			—			61			168
Benefits paid	(3,112		)	(2,142		)	(1,094		)	(1,199		)
Benefit obligation at end of year	$	103,612		$	117,890		$	33,383		$	36,054

(in thousands)	Pension Benefits						Postretirement Benefits
Change in plan assets	2013			2012			2013			2012
Fair value of plan assets at beginning of year	$	99,857		$	87,605		$	—		$	—
Actual gains on plan assets	12,487			11,178			—			—
Company contributions	1,630			3,216			580			712
Participant contributions	—			—			514			487
Benefits paid	(3,112		)	(2,142		)	(1,094		)	(1,199		)
Fair value of plan assets at end of year	$	110,862		$	99,857		$	—		$	—
Over (under) funded status of plans at end of year	$	7,250		$	(18,033	)	$	(33,383	)	$	(36,054	)

Amounts recognized in the Consolidated Balance Sheets

Amounts recognized in the Consolidated Balance Sheets at December 31, 2013 and 2012 consist of:

	Pension Benefits						Postretirement Benefits
(in thousands)	2013			2012			2013			2012
Accrued expenses	$	(254	)	$	(202	)	$	(1,244	)	$	(1,241	)
Employee benefit plan assets	14,328			—			—			—
Employee benefit plan obligations	(6,824		)	(17,831		)	(32,139		)	(34,813		)
Net amount recognized	$	7,250		$	(18,033	)	$	(33,383	)	$	(36,054	)

Pre-tax amounts recognized in accumulated other comprehensive loss

Following are the details of the pre-tax amounts recognized in accumulated other comprehensive loss at December 31, 2013:

	Pension Benefits					Postretirement Benefits
(in thousands)	Unamortized Actuarial Net Losses			Unamortized Prior Service Costs		Unamortized Actuarial Net Losses			Unamortized Prior Service Costs
Balance at beginning of year	$	59,941		$	—	$	17,570		$	(1,984	)
Amounts arising during the period	(20,875		)	—		(4,359		)	—
Amounts recognized as a component of net periodic benefit cost	(1,530		)	—		(1,473		)	543
Balance at end of year	$	37,536		$	—	$	11,738		$	(1,441	)

Amounts in accumulated other comprehensive loss expected to be recognized as components of net periodic benefit cost

The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the next fiscal year are as follows:

(in thousands)	Pension		Postretirement			Total
Prior service cost	$	—	$	(543	)	$	(543	)
Net actuarial loss	1,530		1,473			3,003

Amounts applicable to the Company's defined benefit plans with accumulated benefit obligations in excess of plan assets

Amounts applicable to the Company's defined benefit plans with accumulated benefit obligations in excess of plan assets are as follows:

	December 31,
(in thousands)	2013		2012
Projected benefit obligation	$	7,078	$	117,890
Accumulated benefit obligation	$	7,078	$	117,890

Defined benefit plan estimated future benefit payments

The combined benefits expected to be paid for all Company defined benefit plans over the next ten years (in thousands) are as follows:

Year	Expected Pension Benefit Payout		Expected Postretirement Benefit Payout		Medicare Part D Subsidy
2014	$	4,155	$	1,399	$	(155	)
2015	4,891		1,505		(175		)
2016	5,194		1,609		(200		)
2017	6,046		1,718		(229		)
2018	6,299		1,817		(260		)
2019-2023	33,076		10,683		(1,832		)

Components of the net periodic benefit cost

Following are components of the net periodic benefit cost for each year:

	Pension Benefits									Postretirement Benefits
	December 31,									December 31,
(in thousands)	2013			2012			2011			2013			2012			2011
Service cost	$	—		$	—		$	—		$	841		$	752		$	555
Interest cost	4,227			4,496			4,578			1,366			1,319			1,285
Expected return on plan assets	(7,005		)	(6,145		)	(6,236		)	(543		)	(543		)	(543		)
Recognized net actuarial loss	1,530			1,497			940			1,473			1,280			901
Benefit cost (income)	$	(1,248	)	$	(152	)	$	(718	)	$	3,137		$	2,808		$	2,198

Schedule of assumptions used

Following are weighted average assumptions of pension and postretirement benefits for each year:

	Pension Benefits						Postretirement Benefits
	2013		2012		2011		2013		2012		2011
Used to Determine Benefit Obligations at Measurement Date
Discount rate (a)	4.7	%	3.8	%	4.3	%	4.8	%	3.9	%	4.3	%
Used to Determine Net Periodic Benefit Cost for Years ended December 31
Discount rate (b)	3.8	%	4.3	%	5.2	%	3.9	%	4.3	%	5.3	%
Expected long-term return on plan assets	7.25	%	7.25	%	7.75	%	—		—		—
Rate of compensation increases	N/A		N/A		3.5	%	—		—		—

(a) In 2013, 2012 and 2011, the calculated discount rate for the unfunded pension plan was different than the defined benefit pension plan. The calculated rate for the supplemental employee retirement plan was 2.90%, 2.10% and 3.20% in 2013, 2012 and 2011, respectively.

(b) In 2013, 2012 and 2011, the calculated discount rate for the unfunded pension plan was different than the defined benefit pension plan. The calculated rate for the supplemental employee retirement plan was 2.10%, 3.20% and 4.20% in 2013, 2012 and 2011, respectively.

Assumed health care cost trend rates at beginning of year

The plan strives to have assets sufficiently diversified so that adverse or unexpected results from one security class will not have an unduly detrimental impact on the entire portfolio.

Assumed Health Care Cost Trend Rates at Beginning of Year
	2013		2012
Health care cost trend rate assumed for next year	6.5	%	7	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5.0	%	5.0	%
Year that the rate reaches the ultimate trend rate	2017		2017

Assumed health care cost trend rate has an effect on the amounts reported for postretirement benefits

The assumed health care cost trend rate has an effect on the amounts reported for postretirement benefits. A one-percentage-point change in the assumed health care cost trend rate would have the following effects:

	One-Percentage-Point
(in thousands)	Increase			Decrease
Effect on total service and interest cost components in 2013	$	—		$	—
Effect on postretirement benefit obligation as of December 31, 2013	(116		)	101

Company's pension plan weighted average asset allocations

The Company's pension plan weighted average asset allocations at December 31 by asset category, are as follows:

Asset Category	2013		2012
Equity securities	51	%	54	%
Fixed income securities	48	%	45	%
Cash and equivalents	1	%	1	%
	100	%	100	%

Defined benefit plan assets target allocations

The overall expected long-term rate of return is determined by using long-term historical returns for equity and fixed income securities in proportion to their weight in the investment portfolio.

	Percentage of Total Portfolio Market Value
	Minimum		Maximum		Single Security
Equity based	30	%	70	%	<5%
Fixed income based	20	%	70	%	<5%
Cash and equivalents	1	%	5	%	<5%
Alternative investments	—	%	20	%	<5%

Fair value of the assets (by asset category) in the Company's defined benefit pension plan

The following table presents the fair value of the assets (by asset category) in the Company's defined benefit pension plan at December 31, 2013 and 2012:

(in thousands)	December 31, 2013
Assets	Level 1		Level 2		Level 3		Total
Mutual funds	$	15,898	$	—	$	—	$	15,898
Money market fund	—		987		—		987
Equity funds	—		40,702		—		40,702
Fixed income funds	—		53,275		—		53,275
Total	$	15,898	$	94,964	$	—	$	110,862

(in thousands)	December 31, 2012
Assets	Level 1		Level 2		Level 3		Total
Mutual funds	$	12,909	$	—	$	—	$	12,909
Money market fund	—		779		—		779
Equity funds	—		40,807		—		40,807
Fixed income funds	—		45,362		—		45,362
Total	$	12,909	$	86,948	$	—	$	99,857