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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2020
Defined Benefit Plan [Abstract]  
Schedule of Obligation and Funded Status of Pension and Postretirement 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 obligation2020201920202019
Benefit obligation at beginning of year$3,088 $4,362 $24,872 $20,638 
Service cost— — 221 365 
Interest cost48 116 719 854 
Actuarial (gains) losses68 44 452 4,687 
Participant contributions— — 298 297 
Benefits paid(1,320)(1,434)(1,238)(1,969)
Benefit obligation at end of year$1,884 $3,088 $25,324 $24,872 
(in thousands)Pension BenefitsPostretirement Benefits
Change in plan assets2020201920202019
Fair value of plan assets at beginning of year$— $— $— $— 
Company contributions1,320 1,434 940 1,672 
Participant contributions— — 298 297 
Benefits paid(1,320)(1,434)(1,238)(1,969)
Fair value of plan assets at end of year$— $— $— $— 
Under funded status of plans at end of year$(1,884)$(3,088)$(25,324)$(24,872)
Schedule of Amounts Recognized in the Consolidated Balance Sheets
Amounts recognized in the Consolidated Balance Sheets at December 31, 2020 and 2019 consist of:
Pension BenefitsPostretirement Benefits
(in thousands)2020201920202019
Accrued expenses and other current liabilities$1,014 $1,309 $1,310 $1,292 
Other long-term liabilities870 1,779 24,014 23,580 
Net amount recognized$1,884 $3,088 $25,324 $24,872 
Schedule of 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, 2020:
Pension BenefitsPostretirement Benefits
(in thousands)Unamortized Actuarial Net LossesUnamortized Prior Service CostsUnamortized Actuarial Net LossesUnamortized Prior Service Costs
Balance at beginning of year$3,034 $— $(4,442)$2,276 
Amounts arising during the period68 — 452 — 
Amounts recognized as a component of net periodic benefit cost(248)— (79)911 
Balance at end of year$2,854 $— $(4,069)$3,187 
Schedule of 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)20202019
Projected benefit obligation$1,884 $3,088 
Accumulated benefit obligation$1,884 $3,088 
Schedule of Benefits Expected to be Paid for Company's Defined Benefit Plans
The combined benefits expected to be paid for all Company defined benefit plans over the next ten years are as follows:
(in thousands)Expected Pension Benefit PayoutExpected Postretirement Benefit Payout
2021$1,014 $1,310 
2022259 1,328 
2023207 1,324 
2024207 1,316 
2025193 1,328 
2026-20304 6,577 
Schedule of Components of Net Periodic Benefit Costs
Following are components of the net periodic benefit cost for each year:
 Pension BenefitsPostretirement Benefits
December 31,December 31,
(in thousands)202020192018202020192018
Service cost$— $— $— $221 $365 $319 
Interest cost48 116 130 719 854 752 
Expected return on plan assets— — — (911)(911)(910)
Recognized net actuarial loss248 232 243 79 — — 
Net periodic benefit cost$296 $348 $373 $108 $308 $161 
Schedule of Weighted Average Assumptions of Pension and Postretirement Benefits
Following are weighted average assumptions of pension and postretirement benefits for each year:
Postretirement Benefits
202020192018
Used to Determine Benefit Obligations at Measurement Date
Discount rate (a)2.2 %3.0 %4.1 %
Used to Determine Net Periodic Benefit Cost for Years ended December 31
Discount rate (b)3.0 %4.1 %3.4 %
Expected long-term return on plan assets— — — 
Rate of compensation increases— — — 
(a)The calculated rate for the unfunded employee retirement plan was 0.50%, 2.00% and 3.20% in 2020, 2019, and 2018, respectively. Since it was terminated in 2015, the defined benefit pension plan did not have a discount rate during the three-year period presented above.
(b)The calculated rate for the unfunded employee retirement plan was 2.00%, 3.20% and 2.50% in 2020, 2019, and 2018, respectively. Since it was terminated in 2015, the defined benefit pension plan did not have a discount rate during the three-year period presented above.
Schedule of Assumed Health Care Cost Trend Rate at Beginning of Year
Assumed Health Care Cost Trend Rates at Beginning of Year
20202019
Health care cost trend rate assumed for next year3.0 %3.0 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) (a)N/AN/A
Year that the rate reaches the ultimate trend rate (a)N/AN/A
(a)In 2017, the Company's remaining uncapped participants were converted to a Medicare Exchange Health Reimbursement Arrangement, which put a 2% cap on the Company's share of the related costs.