EMPLOYEE BENEFIT PLANS

9 Months Ended

Sep. 30, 2017

Compensation And Retirement Disclosure [Abstract]

EMPLOYEE BENEFIT PLANS

NOTE 16 – EMPLOYEE BENEFIT PLANS

Multiemployer Defined Benefit Pension Plans.We are a participating employer in two trustee-managed multiemployer defined benefit pension plans (“Multiemployer Pension Plans”) for employees who are covered by collective bargaining agreements. The risks of participating in these Multiemployer Pension Plans are different from single-employer plans in that (i) assets contributed to the Multiemployer Pension Plan by one employer may be used to provide benefits to employees or former employees of other participating employers; (ii) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be required to be assumed by the remaining participating employers and (iii) if we choose to stop participating in any of our Multiemployer Pension Plans, we may be required to pay those plans a withdrawal amount based on the underfunded status of the plan. Pension contributions to these plans in 2016 were approximately $0.5 million. Based upon the latest information available, these plans were in critical status having an accumulated funding deficiency and have adopted a rehabilitation plan. We are currently in process of obtaining the most recent available Form 5500 of the Multiemployer Pension Plans. We expect to be considered individually significant as a result of providing more than 5% of the total contributions for each of the plans.