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Pension Benefit and Retirement Health and Life Insurance Benefits (Tables)
 12 Months Ended
Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]  
Change in benefit obligation
(Dollars in thousands)
Pension Benefits
 
Retirement Health and Life Insurance Benefits
Change in benefit obligation:
2014
2013
 
 
2014
2013
 
 
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
174,325

$
209,844

 
 
$
10,824

$
11,891

 
Service cost
—

2,473

 
 
556

627

 
Interest cost
8,015

7,753

 
 
305

262

 
Actuarial (gain) loss
34,006

(15,834
)
 
 
(1,071
)
(1,205
)
 
Benefit payments
(24,934
)
(7,276
)
 
 
(775
)
(751
)
 
Settlement charge
—

—

 
 
—

—

 
Special termination benefit
(3,530
)
(22,635
)
 
 
—

—

 
Benefit obligation at end of year
$
187,882

$
174,325

 
 
$
9,839

$
10,824

 
Change in plan assets
Change in plan assets:
2014
2013
 
 
2014
2013
 
 
 
 
 
 
 
 
 
Fair value of plan assets at the beginning of the year
$
171,218

$
143,540

 
 
$
—

$
—

 
Actual return on plan assets
10,445

21,954

 
 
—

—

 
Employer contributions
13,871

13,000

 
 
775

751

 
Benefit payments
(24,934
)
(7,276
)
 
 
(775
)
(751
)
 
Fair value of plan assets at the end of the year
170,600

171,218

 
 
—

—

 
Funded status
$
(17,282
)
$
(3,107
)
 
 
$
(9,839
)
$
(10,824
)
 
Amounts recognized in consolidated balance sheet
Amounts recognized in the consolidated statements of financial position consist of:
(Dollars in thousands)
Pension Benefits
 
Retirement Health and Life Insurance Benefits
 
2014
2013
 
 
2014
2013
 
Noncurrent assets
$
404

$
2,983

 
 
$
—

$
—

 
Current liabilities
(34
)
(654
)
 
 
(1,071
)
(1,175
)
 
Noncurrent liabilities
(17,652
)
(5,436
)
 
 
(8,768
)
(9,649
)
 
Net amount recognized at end of year
$
(17,282
)
$
(3,107
)
 
 
$
(9,839
)
$
(10,824
)
 
Schedule of net periodic benefit cost not yet recognized
(Dollars in thousands)
Pension Benefits
 
Retirement Health and Life Insurance Benefits
 
2014
 
2014
Net actuarial loss
$
62,053

 
$
707

Prior service cost
—

 
—

Net amount recognized at end of year
$
62,053

 
$
707
Components of net periodic benefit cost
Components of Net Periodic Benefit Cost
(Dollars in thousands)
Pension Benefits
 
Postretirement Health and Life Insurance Benefits
 
2014
 
2013
 
2012
 
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
—

 
$
2,473

 
$
4,596

 
 
$
556

 
$
627

 
$
630

Interest cost
8,015

 
7,753

 
8,420

 
 
305

 
262

 
364

Expected return of plan assets
(12,909
)
 
(11,247
)
 
(9,892
)
 
 
—

 
—

 
—

Amortization of prior service cost
—

 
124

 
463

 
 
—

 
(230
)
 
(451
)
Amortization of net loss
686

 
3,615

 
5,471

 
 
—

 
204

 
313

Settlement charge/(credit)
5,321

 
—

 
2,073

 
 
—

 
—

 
—

Special termination benefit
—

 
—

 
—

 
 
—

 
—

 
1,592

Curtailment charge
—

 
1,537

 
—

 
 
—

 
—

 
—

Net periodic benefit cost
$
1,113

 
$
4,255

 
$
11,131

 
 
$
861

 
$
863

 
$
2,448
Schedule of weighted-average assumptions used
Weighted-average assumptions used to determine benefit obligations at December 31:
 
Pension Benefits
 
Retirement Health and Life Insurance Benefits
 
2014
2013
 
 
2014
2013
 
 
 
 
 
 
 
 
 
Discount rate
4.00
%
4.75
%
 
 
3.00
%
3.25
%
 
Expected long-term rate of return on plan assets
6.50
%
7.50
%
 
 
—

—

 
Weighted-average assumptions used to determine net benefit cost for the years ended:
 
Pension Benefits
 
Retirement Health and Life Insurance Benefits
 
2014
2013
 
 
2014
2013
 
 
 
 
 
 
 
 
 
Discount rate
4.75
%
4.00
%
 
 
3.25
%
2.50
%
 
Expected long-term rate of return on plan assets
7.50
%
7.50
%
 
 
—

—

 
Rate of compensation increase
4.00
%
4.00
%
 
 
—

—

 
Schedule of effect of one-percentage-point change in assumed health care cost trend rates
A one-percentage point change in assumed health care cost trend rates would have the following effects:
(Dollars in thousands)
One Percentage Point
 
Increase
 
Decrease
 
 
 
 
Effect on total service and interest cost
$
60

 
$
527

Effect on other postretirement benefit obligations
(55
)
 
(495
)
Schedule of allocation of plan assets
The following table presents the fair value of the net assets by asset category at December 31, 2014 and 2013:
(Dollars in thousands)
2014
 
2013
 
 
 
 
Pooled separate accounts
$
5,204

 
$
38,584

Fixed income bonds
102,535

 
—

Mutual funds
51,097

 
119,277

Guaranteed deposit account
11,764

 
13,357

Total investments at fair value
$
170,600

 
$
171,218

The following tables set forth by level, within the fair value hierarchy, the assets carried at fair value as of December 31, 2014 and 2013.
 
Assets at Fair Value as of December 31, 2014
(Dollars in thousands)
Level 1
 
Level 2
 
Level 3
 
Total
Pooled separate accounts
$
—

 
$
5,204

 
$
—

 
$
5,204

Fixed income bonds
—

 
102,535

 
—

 
102,535

Mutual funds
51,097

 
—

 
—

 
51,097

Guaranteed deposit account
—

 
—

 
11,764

 
11,764

Total assets at fair value
$
51,097

 
$
107,739

 
$
11,764

 
$
170,600

 
 
 
 
 
 
 
 
 
Assets at Fair Value as of December 31, 2013
(Dollars in thousands)
Level 1
 
Level 2
 
Level 3
 
Total
Pooled separate accounts
$
—

 
$
38,584

 
$
—

 
$
38,584

Mutual funds
119,277

 
—

 
—

 
119,277

Guaranteed deposit account
—

 
—

 
13,357

 
13,357

Total assets at fair value
$
119,277

 
$
38,584

 
$
13,357

 
$
171,218
Changes in fair value of Level 3 assets
The table below sets forth a summary of changes in the fair value of the guaranteed deposit account's Level 3 assets for the year ended December 31, 2014.
(Dollars in thousands)
Guaranteed Deposit Account
 
 
Balance at beginning of year
$
13,357

Realized gains (losses)
—

Unrealized gains relating to instruments still held at the reporting date
785

Purchases, sales, issuances and settlements (net)
(2,378
)
Transfers in and/or out of Level 3
—

Balance at end of year
$
11,764
Schedule of future benefit payments
The following pension benefit payments, which reflect expected future employee service, as appropriate, are expected to be paid through the utilization of plan assets for the funded plans and from operating cash flows for the unfunded plans. The Retiree Health and Life Insurance benefits, for which no funding has been made, are expected to be paid from operating cash flows. The benefit payments are based on the same assumptions used to measure our benefit obligation at the end of fiscal 2014.
 
Pension Benefits
 
Retiree Health and Life Insurance Benefits
 
 
 
 
2015
$
8,126

 
$
1,071

2016
$
8,125

 
$
1,052

2017
$
8,355

 
$
1,017

2018
$
8,621

 
$
994

2019
$
8,944

 
$
1,038

2020-2024
$
50,043

 
$
5,839